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...Rutgers research reflects a much-needed, if slow, renewal of scientific interest in antibiotics development. The last two decades of the 20th century saw nearly zero progress, and in those years several disease-causing bacteria evolved resistance to commonly used drugs. Researchers at the Centers for Disease Control and Prevention found that more than 40% of staph infections in the U.S. in 2006 were MRSA - a bug that now kills more Americans a year than AIDS. Today, the first line of treatment against MRSA is vancomycin, a formidable antibiotic that has been around since the 1950s and is otherwise typically...
...concern among economists such as Krugman. Low productivity growth explained much of what had gone wrong with the U.S. economy: stagnant wages, high inflation, ground lost to Japan. But what caused it? The most convincing explanation came from Northwestern University's Robert J. Gordon. In the early and mid-20th century, he argued, the U.S. benefited from a spectacular confluence of technological innovation involving electricity, the internal combustion engine, petrochemicals and communications. By the 1970s the economic impact of innovation in these fields had waned, and nothing came along to replace...
...falling economic output in the coming months as we work off the financial excesses of recent years. Higher productivity makes higher economic growth possible; it doesn't guarantee it. What's more, a financial breakdown can trump long-term fundamentals for years. Gordon identifies the peak years of the 20th century's big wave of productivity growth as 1928 to 1950. A lot of good that did anybody...
Peace and prosperity. During the last decade of the 20th century, Americans enjoyed more of both than any other people in history. Not all Americans, but most. Certainly most voters. Then came 9/11, and out went secure peace, but we still had prosperity. And then last month, the other shoe dropped. Now both peace and prosperity seem uncertain. When we were riding high, we called it "business as usual" and found it intolerable. Politicians of every stripe promised to rescue us with a magic elixir: "change." Well, now we have change. Kind of makes you miss that old business...
...sure what the new global system is going to be like for them. Our challenge is to make the system work for all these people.” Summers closed his speech noting that capitalism had successfully faced down similar challenges in the past. “In the 20th century, we saw a Republican Roosevelt and a Democratic Roosevelt preside over periods when capitalism was saved from itself,” Summers said. “This is our challenge today.” CAPITALISM IN DANGER?A panel moderated by Business School professor Michael E. Porter further explored...