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...standard-of-living increases over the past 25 years. “It is very clear that, from the perspective of an economist, China really is the story of our lifetimes,” said Friedman, who also serves as an adviser to the Federal Reserve Bank of New York. Friedman called himself cautiously optimistic about whether China’s growth could continue in the face of threats such as overproduction, dramatic rises in income inequality, and bad lending practices. “If the Chinese are able to sustain the level of growth that they have experienced, [they...
...Barack Obama continue to raise money faster and from more people than any Democrat has before, or will Hillary Clinton edge him out in this latest period? Has onetime front-runner John McCain, having upended the organization that had spent his campaign into near insolvency, begun to rebuild his bank account and his viability? How much of his own vast fortune is Mitt Romney going to put into his own campaign, and will that put his total over Rudy Giuliani...
...Meyer Ministries came to agreement with local authorities to pay 52% taxes on parts of its headquarters, which the county had maintained were a business. Nonetheless, Hank Hanegraaff, a non-Pentecostal evangelical broadcaster who calls himself the Bible Answer Man, expresses concern "about people out there emptying out their bank accounts so their daughter with leukemia can be healed." He recently read on the air a editorial by Grady denouncing "Celebrity Christianity," which described the case of an unnamed female evangelist whose appearance contract included a five-figure honorarium, a $10,000 fuel deposit for a private plane, a five...
There may be a high environmental price to pay as poor nations convert from two wheels to four. John Rogers, a consultant for the Asian Development Bank, estimates that the number of cars in India will increase from 6.2 million in 2005 to 41.6 million by 2025. Putting millions of new vehicles on roads will increase pollution and further strain overtaxed transportation networks. "We cannot afford this type of congestion," says Anumita Roychowdhury, associate director of the New Delhi-based nongovernmental group Center for Science and Environment. "It's defeating the reason people buy cars: for mobility." Roychowdhury and other...
Since most Harvard students spent their summers either in a musically backward part of the world or trapped in investment banking hell, here’s a recap of the summer’s notable pop hits. Soulja Boy – “Crank That” If a breakthrough single is tied to a specific dance, it’s a good indicator that the musician’s not going to be around for long. As Los Del Rio could tell you, originating a fad is the same as having an expiration date. Fortunately for Soulja...