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...than $73,000 in debt. Larry Kramer, dean of Stanford Law School in Palo Alto, Calif., acknowledges there's a problem. "Something about the way the system works has to give," he says. "If you're going to defer someone for a year, there really needs to be a certain degree of loan forgiveness to ease the burden [on associates]." (See pictures of the evolution of the college dorm...

Author: /time Magazine | Title: Law-School Grads See Promised Jobs Put On Hold | 3/26/2009 | See Source »

Using information technology to figure out which treatments are most effective seems eminently sensible. Certain heart patients, for example, do just as well with clot-busting drugs as they would with angioplasty procedures, which typically cost thousands more. Crunching huge amounts of data from a wide cross section of patients could help us do better research than we are doing now. But what will happen when the new computerized research turns up a treatment that works a little better but costs a lot more? Will the government-sponsored researchers tell us? What happens to the patient whose particular circumstances argue...

Author: /time Magazine | Title: Wrong Prescription | 3/26/2009 | See Source »

...thing about being optimistic, though, is that it takes hard work - and that's a drag. It's an active process, say psychologists, through which you force yourself to see your life a certain way. Indeed, the leading optimism and happiness experts consider themselves born pessimists. But if they have learned over time and with lots of practice to become more hopeful, take heart...

Author: /time Magazine | Title: A Primer for Pessimists | 3/26/2009 | See Source »

...political convictions won't provide any easy way out. Given that it was our unthinking trust in the unthinking certainty of "experts" that got us here - securitized debt? credit-default swaps? uh, sure, whatever - Americans can now revert to their ruthlessly pragmatic, commonsensical selves. Admitting that we aren't certain exactly how to proceed is liberating, and key. Hyperbolic rants and rigid talking points, in either Limbaughian or Olbermannian flavors, now seem worse than useless, artifacts of a bumptious barroom...

Author: /time Magazine | Title: The End of Excess: Is This Crisis Good for America? | 3/26/2009 | See Source »

...embodied by the founders: sobriety, hard work, practical ingenuity, common sense, fair play. And then there's our wilder, faster and looser side, that packet of attributes that makes us American instead of Canadian: impatient, hell-bent, self-invented gamblers, with a weakness for blue smoke and mirrors. A certain fired-up imprudence was present from the beginning, but it required a couple of centuries for the most extravagant version of the American Dream to take hold: starting with the California Gold Rush in 1849 - riches for the plucking, with no adult supervision - we have been repeatedly wont to abandon...

Author: /time Magazine | Title: The End of Excess: Is This Crisis Good for America? | 3/26/2009 | See Source »

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