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...ensure producers could produce. Political and business leaders resorted to guaranteed job security and total employment as the primary forms of welfare, while workers were supposed to plug any gaps in the social safety net themselves with prodigious savings. Strategic industries were propped up to protect jobs. This system worked fine when earnings were plentiful during the postwar boom. But today the policies sap the strength of small- and medium-sized businesses, a major source of new jobs. At the same time, younger Japanese are crowded out of the workforce by graying incumbents in cradle-to-grave employment. (Read "Japan...

Author: /time Magazine | Title: A New Deal | 8/31/2009 | See Source »

...Moreover, as Japanese must rely on private savings as their biggest cushion when times are tough, they tend to save more than they would otherwise. Even workers eligible to receive government benefits cannot rely on the public pension system for adequate retirement funding. In short, this thin social safety net perpetuates the population decline and prevents private consumption from rising to offset the shrinking number of consumers. You can't expect the population and the economy to grow by guaranteeing survival to only the oldest workers and businesses while subjecting everyone else to market forces...

Author: /time Magazine | Title: A New Deal | 8/31/2009 | See Source »

...Listening to Grasshoppers is powered by a thorough critique of Indian democracy. Free elections, she writes, have failed to challenge the rich and powerful. "The hoary institutions of Indian democracy - the judiciary, the police, the 'free' press and, of course, elections - far from working as a system of checks and balances, quite often do the opposite." But there is more passion than reasoned argument here. Urbanization, for example, may be destroying rural communities, but it also liberates people from the appalling restrictions of village life. Roy couldn't care a whit for such subtleties - yet to fault her for that...

Author: /time Magazine | Title: Torch Songs | 8/31/2009 | See Source »

...keep it simple. I'm not one of those guys who likes to measure all that crap." As he's gotten older, Couture has also paid more attention to blood chemistry. He's now cutting down on his iron intake. "I had way too much iron in my system," Couture says. Of course, it's natural to wonder if a 46-year-old man can last without performance-enhancers like steroids. UFC fighters, however, do get tested, and Couture's record is clean...

Author: /time Magazine | Title: Randy Couture: Ultimate Fighting's Ageless Wonder | 8/29/2009 | See Source »

...recently stripped nine Ph.D. holders of their titles," Henning Radtke, Dean of the Law Faculty at the University of Hanover tells TIME. Those students are now appealing the decision. "This scandal is a disaster for Germany's education system," he says. "It's completely unacceptable that some teachers have accepted bribes to take on often unqualified students to do a Ph.D...

Author: /time Magazine | Title: Germany's Ph.D. Scandal: Were Degrees Bought? | 8/28/2009 | See Source »

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