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...months now, the only silver lining for many amid the gathering economic gloom has been the pleasant sensation of filling their cars with ever cheaper gasoline. But that relief at the gas pump has slashed the revenues of the oil-producing countries, and on Wednesday they pushed back when the 11 oil ministers of the Opec cartel agreed to cut their combined output by about 2.2 million barrels a day starting January 1. The biggest production cut in Opec's 48-year history is an emergency measure aimed at reversing the precipitous slide in world oil prices, which the cartel...

Author: /time Magazine | Title: OPEC Cuts Production in Effort to Reverse Price Slide | 12/17/2008 | See Source »

...Decades of research show that two main factors result in better educational outcomes for poor and minority children: intensive, individualized early preschooling and small elementary-school classes. Yet for the past decade, the focus has been entirely on teacher quality. Why? It's cheaper and more palatable politically. Of course, it's better to have a good teacher than a poor one. But if you put the best teacher in a run-down school with a class of 35 students, most of them not up to par with their class level and some with developmental and discipline problems, that teacher...

Author: /time Magazine | Title: Inbox | 12/17/2008 | See Source »

...same logic applies to video games. The game Renaissance 2 costs six times the price of seeing the movie Madagascar 2, but games are actually cheaper if you measure their cost by the hour. If we say that movies cost $10, and assume that the typical movie lasts 2 hours, then a moviegoer spends $5 per hour of entertainment. Most games last much longer. A triple-A video game title like Fallout 3, for instance, is priced at $60, but reviews have claimed anywhere between 50 and 100 hours of playtime. Even using the conservative estimate of 20 hours...

Author: By Adam R. Gold | Title: No Recession in this Castle | 12/14/2008 | See Source »

Getting your tubes tied is not the most appealing phrase, but it's way more user-friendly than sterilization. Maybe that's why the maker of Essure--a newer, cheaper, faster, scalpel-free alternative to tubal ligation--is marketing the procedure as "permanent birth control...

Author: /time Magazine | Title: Permanent Birth Control | 12/11/2008 | See Source »

...Simpfendorfer says he believes the 2.2% contraction - exports grew by 19% in October - was caused by a lack of overseas consumer demand for Chinese manufactured electronics. Electronics are shipped closer to the Christmas rush period, he notes, unlike toys and cheaper goods that are sent out months in advance. The fall indicates that weak markets in the U.S. and Europe aren't the only culprit. "To get a decline of this magnitude does suggest that this is a global story," he says...

Author: /time Magazine | Title: China's Exports Unexpectedly Fall | 12/11/2008 | See Source »

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