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...Industry insiders--the folks who have designed the systems--argue that the infrastructure they have built is secure enough to survive any tampering and that the markets themselves will factor in the risks of rogue or inexperienced traders. "There is no chance that a money market will fail and threaten the underpinnings of the system," says Cone of Fidelity Investments. This new electronic world challenges everything we thought we knew about finance, but maybe not what we know about economics. Will a high-speed global economy put an end to the boom and bust of the business cycle, or will...

Author: /time Magazine | Title: The Big Bank Theory | 4/27/1998 | See Source »

...thoughts of the taxman threaten to befoul even the sweetest of spring breezes, take heart: You, the American people, are in the money. Among the roses that came up Tuesday: The Labor Department announced Tuesday that inflation in March was -- get this -- zero. That's the second nil reading in three months this year. The Dow, meanwhile, was up 100 in afternoon trading, and traders seem intent on dancing on 9000's grave...

Author: /time Magazine | Title: America: We're Still Flush | 4/14/1998 | See Source »

...what Cornel R. West '74 calls a crisis of black leadership. One problem is that black leaders aren't even sure what to lead black people to. The persistent problem of racism has gone underground, surfacing in subtle ways that frustrate and humiliate blacks, but does not often threaten our lives. Segregation is self-imposed (although, to be fair, many blacks like it that way), not placed there...

Author: NO WRITER ATTRIBUTED | Title: No One Is H.N.I.C. | 4/13/1998 | See Source »

...more fierce religious challenge that rejects individual liberties as well as the materialism that comes with capitalism. Finally, there is the radical environmentalism of the Green movements, which could start seeming less radical and more urgent if the quest for economic growth that is inherent in capitalism continues to threaten the health of the planet. To counter this, humans will have to become the first species to learn how to control its own population growth...

Author: /time Magazine | Title: Our Century...And The Next One | 4/13/1998 | See Source »

...than a third of a century ago, before anyone had ever heard of videotapes or the World Wide Web or 24-hour TV news stations, Daniel Boorstin, in his uncannily prescient book The Image, described how, as we move deeper into what he called the Graphic Revolution, technology would threaten to diminish us. Ideas, even ideals, would be reduced to the level of images, he argued, and faith itself might be simplified into credulity. "Two centuries ago, when a great man appeared," the historian wrote, "people looked for God's purpose in him; today we look for his press agent...

Author: /time Magazine | Title: The Unknown Rebel | 4/13/1998 | See Source »

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