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...which has driven farmers in the wheat-belt states to plow under their winter wheat and plant corn or other crops. Inventories of winter wheat have fallen to a 50 year low, and commodity exchanges are seeing record wheat prices. The price of a May wheat futures contract has risen to around $7.00 per bushel, up from $4.95 at the beginning of February. The shortage of winter wheat is part of an overall global grain problem. Global grain production has not grown since 1990, although the world's population has increased by 440 million since then. Huge Chinese consumption exerts...

Author: /time Magazine | Title: Grim Harvest: The Rising Cost Of Corn Flakes | 4/26/1996 | See Source »

Year in and year out, economists have vainly predicted a rebound in Japan's fortunes. Now there are again some signs of improvement: last year the economy did grow a bit faster, if only 0.9%; the stock market has risen, although it is still at just over half its 1989 high; corporate profits have improved; the dollar has strengthened against the yen, making Japanese exports more affordable...

Author: /time Magazine | Title: THE FAILED MIRACLE | 4/22/1996 | See Source »

...still is in America's expanding Fundamentalist and Evangelical congregations) that the Gospels, the Acts of the Apostles and Paul's Epistles were the best history of all: a Christian would no more consider asking whether Jesus had raised Lazarus from the dead than question his status as the risen Messiah. But Martin Luther, in pioneering Protestantism, stressed that every Christian could and should establish his own relationship with Christ by the reading of Scripture. And from the 17th century on, Western civilization, which had previously understood itself according to faith, found a new way to apprehend the world...

Author: /time Magazine | Title: THE GOSPEL TRUTH? | 4/8/1996 | See Source »

Even at Harvard, the changes have been more than noticeable. The student body has become steadily more qualified and hard-working: Competition for academic and extracurricular achievement and summer jobs, which is crucial for success in both graduate school admissions and recruiting, has risen to new heights every year. Also, the increased influx into concentrations such as economics, applied mathematics and computer science may be attributed to these factors. John Boynton, a senior consultant at Mercer Management Consulting, once summarized this development concisely: "When I was an undergraduate at Harvard in the mid-eighties, Harvard students knew essentially nothing about...

Author: By Gerald B. Horhan, | Title: The Global Evolution | 4/5/1996 | See Source »

...Buchanan: "Students of this university and this class will be those who benefit most from the drastic changes in our economy. The demand for lowly-skilled workers and their standard of living have decreased sharply. On the other hand, the need for smart and highly-qualified people has risen dramatically, and their incomes have adjusted accordingly...

Author: By Gerald B. Horhan, | Title: The Global Evolution | 4/5/1996 | See Source »

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