Word: crisises
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The half-decade before the financial crisis was a go-go time for the global economy. Consumption reached unprecedented heights; so did oil prices and shipping rates. And that frantic buying and selling was a boon for manufacturing. As U.S. consumers flexed their credit cards for flat-panel TVs and...
A slowdown on the world's assembly lines is a normal part of any recession. As demand shrinks, so must production. But now that the recession is easing, there is considerable debate among economists about whether manufacturers will be rehiring workers and restarting assembly lines anytime soon. Despite aggressive downsizing...
The rest of the industrialized world may be in worse shape. To measure excess capacity, economists use a metric called the "output gap," defined as the difference between the potential output of a given economy and what is actually being produced (including services). The Organization for Economic Cooperation and Development...
The recession also provoked an identity crisis for the magazine; its latest cover touted a story on where to eat a restaurant steak for $14.50. "When you're catering to an affluent audience and you're talking about huddling at home or cooking inexpensive stews, there's a disconnect," says...
When Afghans went to the polls on Aug. 20, it was with the hope that real democracy could deliver a more responsible, more accountable and functional government. On most counts, they were disappointed. Six weeks on, the results are mired in widespread allegations of fraud mostly favoring the incumbent, President...