Word: third world
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...Bretton Woods system itself collapsed in 1971, when President Richard Nixon severed the link between the dollar and gold - a decision made to prevent a run on Fort Knox, which contained only a third of the gold bullion necessary to cover the amount of dollars in foreign hands. By 1973, most major world economies had allowed their currencies to float freely against the dollar. It was a rocky transition, characterized by plummeting stock prices, skyrocketing oil prices, bank failures and inflation...
...intense financial crisis. In a September 2008 survey by Campbell Communications, an outfit that works with the mortgage industry, property taxes were the third most cited reason people thought they might stop making mortgage payments, illustrating that the financial pressures on overwhelmed homeowners go far beyond the terms of their loans. "Many of the people who bought homes were not prepared to be homeowners," says survey designer Tom Popik. And all the loan modifications in the world can't change that...
Google, whose announcement of the grant is part of the company’s effort to facilitate third-world development, cited the Harvard team’s innovation in developing metrics to deal with such intangibles as bargaining ability, number-sense, and money management skills...
...making it one of the oldest and most celebrated symphonies in the United States. In celebration of the anniversary, James Levine, the BSO’s Music Director since 2003, has commissioned several works to world premiere with the BSO. On Friday afternoon, he led the orchestra through Pyotr Ilyich Tchaikovsky’s “Symphony No. 6,” a world premiere of Leon Kirchner’s “The Forbidden,” and Robert Schumann’s “Piano Concerto in A Minor” with soloist Maurizio Pollini...
...year-old soloist, George Li, who has already toured around the world. Li’s playing was spectacular. Sitting at the bench, his feet barely reaching the pedals, he commanded the keyboard like a professional, with dazzling technical ability and power.The virtuosic writing did not hinder Li’s musicality, as he expressed dark, haunting melodies in the first movement. The second movement highlighted the depth of Li’s ability, alternating mercurial running scales with a jovial, romping tune. The stormy third movement was the most technically demanding, but Li combined a bell-like power with...