Word: system
(lookup in dictionary)
(lookup stats)
Dates: during 2000-2009
Sort By: most recent first
(reverse)
...past 38 years, the world has been engaged in the historical experiment of a monetary system based on a single currency (the U.S. dollar) that has no link to gold. This arrangement was shaky in its early days, in the 1970s, but seemed to work passably well for the next two decades. Lately, though, the dollar standard has been blamed for everything from China's huge buildup of dollars to the financial crisis of 2007 and '08 and a future of rampant inflation that hasn't materialized yet but that many doomsayers are convinced is on the way. And while...
...Gold is the one currency a central bank can't print," says Martin Murenbeeld, a veteran gold watcher who is chief economist for Canadian money-management firm DundeeWealth. Gold's big attraction as a pillar of the global monetary system is that it isn't beholden to national politics. The downside is that its supply increases fitfully, with no regard for the state of the world economy. That's why John Maynard Keynes called the gold standard a "barbarous relic," and why you won't find anyone outside the goldbug fringe calling for a full return to the gold standard...
...loved the illustration of the Chinese educational system as told through the story of 7-year-old Liu. Although Liu's parents work, he is met each afternoon by his grandparents, who are active participants in his after-school activities. Liu was surrounded by his extended family at his great-grandmother's 90th birthday party before he headed to his Saturday classes. I was struck by how enriched he must be--not just by his teachers but also by his family...
China's rampant development has produced a legacy of terrible pollution, and China gives its citizens no voice in what happens to their neighborhoods. Our system may be inconvenient, but it allows our society to balance individual rights with the benefits of development. As you noted, that's one thing China can learn from...
...University of California regents board voted Nov. 19 to hike education fees 32%, spurring students across the system to barricade themselves in buildings and clash with police. Cash-strapped pupils say the increase, scheduled to take effect next fall, will force many to drop out or transfer to community colleges. UC president Mark Yudof said the measure was unavoidable because of the state's ongoing budget crisis...