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Recessions make their presence felt in myriad ways. Aside from the obvious fiscal consequences, the prospect of a global economic downturn also induces subtle, yet profound, psychological changes. Researchers have found that in hard times people prefer models who look mature—probably because evolutionary instincts compel them to search for a capable provider—while slow, contemplative tunes like “That’s What Friends Are For” are favored over more upbeat melodies...

Author: By Daniel E. Herz-roiphe | Title: The Second Coming | 10/23/2008 | See Source »

Roubini has been particularly apocalyptic, but given how things have gone in the world economy over the past few weeks, it's worth listening to this prophet of doom. Maybe things aren't as dire as he says. But maybe only the prospect of global catastrophe can compel world leaders to act forcefully while we still have some money left...

Author: /time Magazine | Title: Can the G-7 Save the World from Financial Chaos? | 10/10/2008 | See Source »

...least for the moment, there just might be that perfect storm of trends that could compel students—at least in the Classes of 2009 and 2010—to seek out the options that Faust urged upon us before the Street imploded. And there’s some evidence that we are: Officials from Teach for America, the national teacher-placing service that has made significant inroads on elite campuses, report that the number of students turning in applications by the first deadline skyrocketed. Peace Corps administrators report an uptick in applicants, as do graduate schools...

Author: By Paras D. Bhayani, CRIMSON STAFF WRITER | Title: Wall Street Meltdown | 10/1/2008 | See Source »

...this comfortable if unedifying rut for too long. In fact, the most striking thing about McCain's plan was how closely it mimicked the dismal debates of over 20 years ago, when Congress passed massive tax cuts and then pasted on Band-Aids like Gramm-Rudman-Hollings legislation to compel reductions in spending that never materialized. The mildewy whiff of McCain's economic policies intensified three days after the budget speech, when Phil Gramm himself appeared, in his capacity as McCain's economic guru, and pronounced that the country was in the midst of a "mental recession...

Author: /time Magazine | Title: The Recession Election | 7/31/2008 | See Source »

...introduced his managed competition act. Like the White House plan, Cooper's would subsidize coverage for the poor, establish a base-line benefits package and create insurance cooperatives. It would also prevent discrimination against people considered bad insurance risks. But unlike Clinton's program, Cooper's would not compel employers to provide coverage, only encourage them to do so with tax incentives. Cooper's proposal differs from Clinton's in another important way: it has significant bipartisan support. It is sponsored by 50 members of the House, including 22 Republicans; in the Senate eight moderate Republicans and Democrats are writing...

Author: /time Magazine | Title: OXYGEN, PLEASE | 7/21/2008 | See Source »

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