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...terms of sheer financial disaster, however, it would be hard to match Montreal's 1976 Games. It has taken the city more than 30 years to pay off its extravaganza, the cost of which is still not entirely known, according to Humphreys. The Olympic stadium was a particular disaster; originally budgeted for C$156 million, it ended up costing the city C$2 billion, including numerous fixes to the roof and years of interest payments. The Quebec government had to introduce a special tobacco tax to help pay down its Olympic investment...
...trade in question is known as the "dollar carry trade" because it allows traders to borrow dollars at low rates while investing in another currency that offers a significantly higher short-term yield. One factor behind its growing popularity in Asia is because the other side of the trade - the currency one buys with the dollars one cheaply borrows - are mostly to be found in the Asia-Pacific region. Most coveted, according to traders, are the Australian dollar, the Indonesian rupiah, and even the infrequently circulated Sri Lankan rupee...
...government should see this as a sign that advertising works and duly subsidize or commission media campaigns targeted at lesser-known, cost-effective drugs. Even better, it should support new types of treatments, bringing their effectiveness into public consciousness and increasing the placebo effect associated with them. But even more importantly, the government should extend the provisions for research on the comparative effectiveness of different treatments and of different treatments against a placebo. We should be pleased that placebos provide these opportunities for saving money to use in health care—now we must pursue them...
...flimsy but in-your-face blue sign near the entrance displays one of Khomeini's best-known declarations: "We will stand until our last breath, last house, last drop of our blood to elevate the word of God." The shrine's interior, reminiscent of an airport hanger, reflects the Imam's austere outlook. During his rule, Khomeini received all manner of dignitaries in a bare room at his daughter's modest residence in the theological center of Qum, and refused to eat anything more extravagant than fruit, yogurt and rice. In contrast, his sarcophagus has now been enclosed within...
...first known use of economic sanctions took place in 432 B.C., when Athenian officials, irked by the assistance the Greek state of Megara had afforded its rivals in Corinth, banned Megaran merchants from its ports. The move didn't go over very well - instead of reasserting Athenian supremacy, it helped trigger the 27-year-long Peloponnesian War, which ultimately stripped Athens of its empire. But the tactic caught on. Venice imposed sanctions against Bologna in 1270 in order to coerce them into buying their wheat instead of grain from Ravenna, and in subsequent centuries, the Hanseatic League tried trade bans...