Word: systemic
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...truly work may determine the fate of Taiwan's economy. "The old model is a top-down approach," says ITRI president Johnsee Lee. "The innovation economy has to be more bottom-up. It needs more talent." Morris Chang says Taiwan lacks that talent, because the country's education system stresses rote learning, resulting in "very little independent thinking and very little creativity." Chang also points out that Taiwan has to contend with a greatly changed international environment. "China wasn't in the picture 30 years ago, neither was India," Chang says. "You have a big competitor that...
...case for happy is that a mere nine months after the U.S. and Europe teetered on the brink of financial collapse, one of the stalwarts of the global financial system appears to have returned to robust health. Goldman has paid back, with interest, the $10 billion that taxpayers gave it in October. It's making bets and taking risks again (most of the profits came from Goldman's trading operations), which is what capitalism is about. "Is there a law in the United States that you can't make profits?" Democrat Paul Kanjorski, a senior member of the House Financial...
California's system of governance seems designed to thwart any solution its lawmakers propose. With a two-thirds majority required to raise taxes or pass a budget, 40% of public funds earmarked for public schools and no method of overriding voter initiatives, California seems stymied by a complex puzzle that no one can solve...
...plans to reform health care and stop global warming. But listen closely, and you’ll hear subtle differences. For instance, Caligiuri wanted “strong financial incentives” to curb emissions, while Foley acknowledged, “I think the cap and trade system should be a small part of the solution...
...Angeles didn't bother me. I was used to it. I'm one of the few people over 14 and under 65 who's actually set foot on the "subway," a Metro-run underground train that is approximately one-twentieth the length of any other metropolitan rail system in America. Starting at age 16, I worked three summers in L.A. without a license, which meant daily hour-and-a-half-long commutes (and that's just one-way). On subsequent visits home, having to beg for a car ride from a friend never seemed as bad as those mind-numbing...