Word: wall
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From his perch on the ultra-posh side of the income distribution, Griffiths sounded piggish. But is there anything to his statement? Will big profits and bonuses at Wall Street firms really bring greater prosperity and opportunity for all? (See the top 10 crooked CEOs...
...been a bust. Yet the financial sector was relatively tiny in the 1960s and huge in the 2000s. Could this mean that good times for finance are bad for the rest of us? Philippon says it isn't that simple. The 1990s, for example, were good for both Wall Street and Main Street. His theory, which fits the historical evidence well, is that the financial sector's share of the economy should increase when there are fast-growing companies needing outside funding, like railroads in the late 19th century, manufacturers in the 1920s and tech firms in the 1990s...
...pictures of TIME's Wall Street covers...
...years, the Berlin Wall stood as a symbol of the division between Eastern and Western Europe. So when East and West Berliners tore it down one night in November of 1989, it seemed as though this division would break down, too. Communist regimes throughout the region were replaced by democratically elected governments, and in 1991 even the mighty Soviet Union broke apart...
...years later, the division in Europe that seemed as if it could be broken down as easily as the wall persists. Although it has moved hundreds of miles eastward, the geographic line between members and non-members of the North Atlantic Treaty Organization is as divisive as it was when the organization was first formed in 1949. Beyond where NATO’s membership ends in Eastern Europe, a resurgent Russia now tries to assert its influence, with little interference from Western powers...