Word: understood
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...with Anke in Berlin. I chose not to. Perseverance had become my default stance, even when there was no motivation to persevere, even when my determination to make the best of a difficult situation paradoxically meant that I didn’t try to improve the situation. What I understood that July day in the Kreuzberg, a week before I finally packed my things and moved out, was that I needed to step back and think about why I was sticking it out. What I found was that there was no reason...
...union wage pressures and price increases by large, market-dominating firms; however, the abilities of unions and firms to push through inflationary wage and price increases were symptoms of the problem, not the underlying cause. Several years passed before the Federal Reserve gained a new leadership that better understood the central bank's role in the inflation process and that sustained anti-inflationary monetary policies would actually work. Beginning in 1979, such policies were implemented successfully--although not without significant cost in terms of lost output and employment--under Fed Chairman Paul Volcker. For the Federal Reserve, two crucial lessons...
...grandmother is just as real as that of radical cleric Moqtada al-Sadr. Every nation is built on a story that explains its past to its own people and the outside world. But the story of every nation is complex. Iraq, like any other country, must be understood as a combination of many stories, and not only those that grab headlines...
...admissions office, the same message has been repeated to prospective students for years. It is a message that I wrote in my college essay four years ago, but I never fully understood until I came through the Harvard experience: Don’t be afraid to experience failure...
...middle class nerd in my home town of East St. Louis,” Hudlin said. “I never really understood how ghetto I was until I talked with my black Harvard classmates...