Word: turmoils
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...cannot afford to consider these threats to world prosperity simply as natural expressions of the ups and downs of economic life. The turmoil of the past 18 months reflects the first systemic crisis of the global economy of the 21st century dominated by financial capitalism. It shows how much we are lagging behind in managing the implications and the initial results of the globalization process. And it illustrates the urgency to put in place the structures and the processes that will allow us to manage this new global reality, or globality, in a responsible...
...women, Cindy and Mary; two lives in turmoil because of adoption laws written in another era. Before the late '60s, states thought they were doing birth mothers a favor by confining their identities to dusty registrars' books. At the time, only "bad" girls got pregnant out of wedlock, and they were cloistered with fake names until they gave birth. Today, of course, that attitude seems quaintly outmoded. What's more, we have become sensitized to the rights of adoptees, who as they grow up want to know what everyone else already knows: who they are. "We are besieged by ghosts...
...help resolve the riddle of imperfect markets, the committee has spent six years working on an experiment. It's called the U.S. economy. The current boom is as much a part of the committee's legacy as is its battle to stem global turmoil. It was Rubin--via the 1993 deficit-reduction plan--who navigated the Clinton Administration into budgetary agreements that helped create the first surplus in 29 years. This fiscal responsibility helped lower interest rates, which kicked off a surge in business spending. Greenspan, who dovetailed his own monetary policy with those goals, let the economy build...
...Washington in this week's cover story on the Committee to Save the World, a.k.a. Fed Chairman Alan Greenspan, Treasury Secretary Robert Rubin and Deputy Treasury Secretary Larry Summers. As volatility has upset foreign markets and economic models, the three men have forged a unique partnership to prevent the turmoil from engulfing the globe. "They are motivated by the prospect of confronting entirely unprecedented economic challenges," says Ramo. Reporting this tale proved a challenge too. Ramo followed Summers to Russia this summer as that country's economy unraveled. Greenspan stayed put, but until TIME's exclusive, he's been understandably...
Herbert is a rare find in 1998: he is old andwise, having lived through the turmoil of EasternEurope under communism, yet he is a storytellerpoet more concerned with the forests than withpeople. He does not run from his own historicalcontext; but he, in a move that will perhaps beincreasingly repeated, bravely attends to himselfand many of the old cares of poetry in their turn.He certainly does not flee his time, carelesslyrutting in transcendentalism or other naiveaesthetics. In fact, his language and reliance onoblique image is, if anything, a testament to thecomplexities of the present and the wisdom ofcontemporary poetry...