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...wellbeing ever since the economist Simon Kuznets devised a way to measure that activity at the end of the Great Depression. Kuznets himself warned that "the welfare of a nation can ... scarcely be inferred from a measure of national income." Seventy-five years on, GDP feels like an idea whose time has finally passed. "GDP measures, in a certain sense, how much stuff we can produce that we can drop on an enemy," Alan Krueger - now a top-ranked economist in the Obama Administration - said at the Organization for Economic Cooperation and Development (OECD) World Forum...
Many will still wonder if Dylan is kidding--and that's as engaging and fruitless a question as whether a Coen brothers movie is a parable or a joke. (Those Jewish kids from Minnesota ...) But for an artist whose motives always keep his fans guessing, Dylan seems on the level here. When he warbles, "Have yourself a merry little Christmas now," he pitches it with a sincerity that could warm Scrooge's heart...
...attacks by Taliban militants that killed more than 100 people in the first three weeks of October, Pakistan's government launched a new offensive in insurgent-plagued South Waziristan that it dubbed Operation Path of Riddance. Pakistan's army chief requested the support of the area's Mehsud tribe, whose members fill many of the Taliban's top posts. Thousands of civilians fled the region, where 30,000 troops were fighting...
...major insider-trading ring, the largest ever centered in the hedge-fund industry. Raj Rajaratnam, a billionaire co-founder of the Galleon Group, and five others were arrested and charged with earning $20 million off stock trades on the basis of information unavailable to the public. Rajaratnam, whose firm manages $3.7 billion, allegedly relied on a broad network of sources, including executives at IBM and McKinsey & Co., for lucrative tips; one leak about a Google earnings report yielded his firm $8 million in profits in 2007, authorities said. The investigation was the first insider-trading probe to make...
...national tour. Chicago theater's most celebrated export, David Mamet, will be represented on Broadway with two works this fall: a revival of his 1992 drama Oleanna and a new play, about black-white tensions at a law firm, titled Race. Meanwhile, hot Chicago director David Cromer--whose moving, teacup-size revival of Our Town is a megahit downtown--will tackle the work of that quintessential New York wiseacre, Neil Simon, directing revivals of his autobiographical plays Brighton Beach Memoirs and Broadway Bound...