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...academic papers showing how their errors could move prices) and lamented at the 1984 meeting of the American Finance Association that "virtually no mainstream research in the field of finance in the past decade has attempted to account for the stock-market boom of the 1960s or the spectacular decline in real stock prices during the mid-1970s...

Author: /time Magazine | Title: The Myth Of the Rational Market | 6/22/2009 | See Source »

...Veta la Palma transformed itself not just into a fish farm, but, somewhat unwittingly, into a refuge for migrating aquatic birds as well. Instead of the 50 bird species that inhabited the area when the farm started, there are now 250, many of them endangered: spoonbills, egrets and those spectacular pink flamingos...

Author: /time Magazine | Title: Sustainable Aquaculture: Net Profits | 6/15/2009 | See Source »

...earlier Washington movies Crimson Tide, Déjà Vu and Man on Fire, directs with his trademark gusto and a surfeit of many circling camera movements. A congestion of cars, arranged as carefully as clusters of Rockettes, isn't traffic; it's just the backdrop for a spectacular crash...

Author: /time Magazine | Title: Pelham 1 2 3: Riding into the Past | 6/12/2009 | See Source »

...most spectacular result was in the U.K., where beleaguered Prime Minister Gordon Brown's Labour Party scraped a mere 15.7% of the national vote. It limped into third place behind the Conservative Party, with 28.5%, and the U.K. Independence Party (UKIP) - campaigning to pull Britain out of the E.U. - which mustered 17.4% of the vote. (See pictures of Brown...

Author: /time Magazine | Title: Europe's Voters Reward the Right | 6/8/2009 | See Source »

...people high levels of prosperity, health care, and education. None of those societies had easy births. In the 1950s, Singapore was a backwater of the British Empire. Taiwan was deeply divided, in the years after the Communist party took control on the Chinese mainland, between exiles and locals. The spectacular growth of Hong Kong between 1950 and 1980 (Arab states would do well to remember) was fueled by the dynamism and determination of poor refugees from communism looking to build a better future for their children. Indeed, the predominantly Asian Muslim states of Indonesia and Malaysia, even though both have...

Author: /time Magazine | Title: Obama's Subtle Message: Why Can't the Arabs Be More Like Asia? | 6/4/2009 | See Source »

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