Word: systemically
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...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...
...topic, "Some experts believed that less than half of all medical care is based on or supported by adequate evidence about its effectiveness." Instead, said the CBO, health care in the U.S. is often motivated by factors like "enthusiasm for the newest technology" and a fee-for-service payment system that rewards doctors based not on outcomes but the number and price of treatments they prescribe and perform...