Word: systemic
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...system was fool-proof. Even remarkably intelligent economists and journalists talked and wrote about "the Chinese Miracle." In 2007, the nation's GDP was $3.2 trillion, but was growing at 11%. U.S. GDP was well over $14 trillion that year, but its growth rate was 3%. It was only a matter of time before the lines crossed. (See pictures of China's wild side...
...that if you're not rational ... you'll be driven out of business," he says. "It's clear that traders aren't rational. They can be. But whether they're rational or not really depends on how they interpret information. It depends on the amount of steroid in the system." For anyone trying to come to terms with the global economic slowdown and the financial-market ruin that caused it, that ought to be little comfort...
...Harvard examination system is designed, according to its promulgators, to test two specific things: knowledge of trends and knowledge of detail. Men approaching the examination problem have three choices: 1.) flunking out; 2.) doing work; or 3.) working out some system of fooling the grader. The first choice of solution is too permanent and the second takes too long...
...Strasbourg, France. Upon entering the French lycée system—the last stage in Frane’s secondary-education system—Yelbi pushed himself to take as many baccalauréat classes as possible while maintaining his hobby, basketball.But, the limitations of the French education system threatened to put a hold on Yelbi’s ambitions. With an overburdened network of public universities, the French system offers fewer openings than the much larger network in the United States. Yelbi adds that in France admissions are oftentimes more influenced by factors like geographic distribution and family...
...From 1993 to 2002, the College Board maintained the Score Choice policy for the SAT II subject tests, allowing students to take them as many times as they wanted and to report only their best scores. However, the College Board ended the policy because it became apparent that the system advantaged students with greater financial resources, who had the means to continue pouring time and money into test prep. There is no compelling evidence to argue that this problem will not repeat itself. Although students taking the SAT may apply for fee-waivers, some students will not obtain them...