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...some extent, every economic transaction is psychological. There's no inherent value to a house, a stock or even the U.S. dollar--just the value on which a buyer and seller can agree. IndyMac bank failed because of a perception that it was dangerously overextended. Once the panic began, the reality was irrelevant. McCain himself has argued that eliminating a moratorium on offshore drilling would have a positive "psychological impact" that could reduce gas prices...

Author: /time Magazine | Title: Confidence Game. | 7/17/2008 | See Source »

...well as a 12-page letter that she had written to her mother and family last year as proof that she was still alive. The poignant letter, penned in cramped handwriting, was immediately published as a book in France, where Betancourt grew up, and quickly became a best seller. An English edition was published by Harry N. Abrams in the U.S. this...

Author: /time Magazine | Title: Betancourt's Surprise Best Seller | 7/11/2008 | See Source »

Such tactical shifts to the center are a general-election ritual for Democratic presidential candidates, a pre-emptive defense against the Republican attack machine. But Obama isn't like other candidates. In his 2006 best seller, The Audacity of Hope, Obama wrote of himself, "I serve as a blank screen on which people of vastly different political stripes project their own views." So as his pragmatic side fills that screen, those loyal foot soldiers who got used to seeing their own reflections are beginning to cry betrayal. The people in Obama's movement feel they have an open line directly...

Author: /time Magazine | Title: Caught in the Middle | 7/10/2008 | See Source »

...Myth of the Orient, contains soy sauce and chili peppers. Proprietor Loh Lik Peng, who also owns the New Majestic boutique hotel next door, says that the bar's menu was intended to offer "a more substantial dim sum that can be paired with alcohol." And the biggest seller? Crispy pig intestines...

Author: /time Magazine | Title: In Singapore, they're making a meal out of gastrobars | 7/9/2008 | See Source »

...book was published June 10, and got a great review in the Times four days later. The following week it hit the best-seller list. This should please him, but Wroblewski is still a software dude. "What bothers me is there's not 2.0 process," he says. "I can't go back and release a new version." Then again, he doesn't have to worry about Google stealing his business...

Author: /time Magazine | Title: A Software Dude Is a Best Seller | 7/8/2008 | See Source »

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