Word: systemic
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...funded largely by high commodity prices, most of which have now plummeted. But Brazil seems to have invested the windfall smartly. Exports have been diversified so as to reduce reliance on commodities, and before the downturn the nation socked away a record $208 billion in foreign reserves. The banking system has remained well regulated, and so far seems to have been less exposed to the toxic assets that have wrecked many U.S. and European banks. All this has "buffered Brazil quite a bit against the global downturn," says Paulo Leme, emerging-markets director at Goldman Sachs...
ENVIRONMENTAL PROTECTION AGENCY $10.5 billion, a 35% budget increase. Calls for the creation of a cap-and-trade system for greenhouse-gas emissions, funding for Great Lakes cleanup and investments in water-infrastructure projects...
...rush of prosecutions, however, just reminds us that the law makes a lousy parent. A legal system naturally depends on deterrence; you make an example of those you manage to catch, so that potential offenders think twice. But to many a teen, danger is as likely to feed desire as to frustrate it. The qualities required to shape their behavior, the humor and patience mixed just a certain way with clarity and resolve, are too much to expect from laws written to apply equally to everyone. Don't we need to exempt them from prosecution for being idiots...
...qualities that helped eastern Europeans survive more than four decades of communist rule was a keen sense of irony. The sentiment was on show even as the old system of central control began to unravel and democracy and capitalism rushed in. The summer and fall of 1989 were full of passionate protestors and revolutionary honesty. But the millions of people who ripped open the Iron Curtain generally did so with an eyebrow cocked at what was replacing their decayed regimes. In the street markets of Warsaw and Prague in those early years of freedom, the symbols of communism - badges, pins...
...good amount of our euphoria comes from bicycles’ perfect compatibility with a green lifestyle. Boston’s bike-sharing system is expected to replace 315,000 car trips per year, amounting to 750 tons of greenhouse emissions. In addition to making a real difference in pollution levels, however, over 6,000 additional bikes on the road would also change the way Bostonians think about the environment. As car commutes fall out of fashion, so will other energy-wasting activities, similar to the contagion of sustainability on the Harvard campus. To this end, Boston would do well...