Word: frankfurt
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...understand why people bullshit in class. It’s a necessary skill, fabrication for survival, forced upon us by the combination of too little sleep and too many commitments. But some argue that faking it has become an integral part of American life. In 2005, philosophy professor Harry Frankfurt came out with “On Bullshit,” a slim volume that claimed bullshit is abundant in all parts of our culture. With a variety of sources, Frankfurt attempted to formulate a theory of how the process of bullshitting functions. He ultimately decided that bullshit...
...Europe that has the ability to expand traffic. This summer, for instance, it is increasing capacity 5.4%, even adding a Seattle-Paris nonstop flight. Analyst Derocles says C.D.G., the main airport serving Paris, has increased traffic 18%--or by 9 million passengers--since 2004. "London and Frankfurt don't have that advantage," he says, "and it has let Air France--KLM develop sales by 7% to 8% per year...
London's pre-eminence wasn't guaranteed by the Big Bang, however. More recently, the U.K.'s decision to opt out of the euro in the early '90s stoked concern that Frankfurt - now home to the European Central Bank - would eclipse the City as Europe's leading financial center. Those concerns have gone the way of the franc, lira and deutsche mark. Thanks to London's ability to exploit its long-standing expertise in marketmaking and English's position as one of Europe's primary languages, there are now more euros traded for dollars, pounds and yen each...
Agglomeration applies to labor talent as well. In a survey of international financial services execs published in 2005 by Z/Yen, a London consultancy, almost a third of those polled rated the availability of skilled labor in Paris and Frankfurt as poor. Three-quarters thought London's was excellent. Hourly productivity among the U.K.'s financial-services workers is estimated to have climbed 3.6% per year between 1997 and 2001, according to a 2005 report, well above the 2% growth in the British economy as a whole over that period. No doubt, London's captains of capital are handsomely paid...
...soft for much of the year, "we're pretty confident that the rest of the world will withstand it." So far at least, businesses ranging from Hong Kong electronics makers to German machine-tool producers are riding out a period of U.S. weakness. At the German Engineering Federation in Frankfurt, chief economist Ralph Wiechers concurs. "It used to be that the U.S. economy supported the world economy," he says. "Now it's the other way around...