Word: fasters
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...What are we doing wrong? European countries have been able to achieve faster speeds by forcing telephone companies to rent lines to local Internet service providers for use with broadband DSL. The Federal Communications Commission attempted to do the same during the middle of the decade to allow competition, but it had to back down from this practice after phone companies threatened to sue. Worse, the FCC and the courts allowed SBC to buy both AT&T and Bellsouth in 2005 and 2006, creating a huge monopoly that rivaled AT&T of the 1980s. Lack of competition...
...United States does have a significant geographic disadvantage when compared to tiny countries with faster networks, like Sweden or the Netherlands. Stringing high-speed access to rural areas is much easier when your entire country is the size of Illinois. But while a significant access gap exists between urban and rural America, even the fastest regions of the U.S. (the northern Atlantic states) can’t crack the 10 megabits per second mark. South Korea’s average connection speed is over twice that fast...
...really more of a rule of thumb) says that when the economy grows, it produces jobs at a predictable rate, and when it shrinks, it sheds them at a similarly regular pace. It's a labor version of how the accelerator on your car works: add gas, go faster; less gas, go slower...
...What made Summers' frank comment important is that it suggests this just-add-gas relationship may now be malfunctioning. The American economy has been shedding jobs much, much faster than Okun's law predicts. According to that rough rule, we should be at about 8.5% unemployment today, not slipping toward 10%. Something new and possibly strange seems to be happening in this recession. Something unpredicted by the experts. "I don't think," Summers told the Peterson Institute crowd - deviating again from his text - "that anyone fully understands this phenomenon." And that raises some worrying questions. Will creating jobs be that...
...President's advisers grasp the urgency of the task. "Would I like Americans to be more skilled?" Summers muses. "Yes. Would I like to be able to increase skill faster than is likely to be possible? Sure. Would I like a larger fraction of good entrepreneurial ideas to happen in the U.S.? Of course. There are millions of people who need work." But Summers need only read his own research to recall that traditional government policies are not going to pull us out of the job trap...