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Mass Effect of Global Downturn

August 17, 2009
In 2004, news of a tiny Kerala church in India holding a Mass to pray for the renowned British soccer player David Beckham fascinated the global media. Although Beckham’s celebrity certainly contributed to the focus, “Mass intentions” – applying a Mass for a specific purpose – had been around long...

On a Russian Site, Cheap Songs With a Backbeat of Illegality

June 4, 2006
AllofMP3.com owes its global success to low prices and a large collection of music that is normally not available for sale online. However, despite its allure, Allofmp3.com may be illegal. Record companies complain and try to stop the site, but with little luck in a country where digital piracy...

The New Dot-Economy

December 11, 2006
Half a decade after the dot-com bubble burst, the US is experiencing another boom in internet business. Economic and technological innovation has sent costs into free-fall, encouraging small start-ups to enter high-tech markets considered too expensive until recently. Advances in computer chips...

New Activism by African Nations: Joining Forces to Solve Disputes

August 12, 2003
Charles Taylor resigned the presidency of Liberia yesterday in front of leaders from Nigeria, South Africa, and Ghana. The president of Ghana announced the terms of Taylor's succession, while troops from Nigeria and South Africa stood guard in the city of Monrovia to ensure that the civil war...

Romania, a Poor Land, Imports Poorer Workers

April 16, 2007
Foreign investors appreciate Romania for its low labor costs. But once Romania joined the European Union as of January 1, 2007, many of its young, skilled workers moved away to Europe’s wealthiest cities. As a result, some employers – especially those in small dreary factory towns – confront...

Europe Close to Creating “Budget Tsar”

November 15, 2011
With European countries struggling to get a control on debt, the European Commission is taking steps to appoint one person responsible for scrutinizing finances. Rival commissioners could not over-ride disciplinary measures imposed by the commissioner for economics and monetary affairs on nations...

Koizumi Visits Energy-Rich Russian Region, Seeking Oil

January 13, 2003
Search for a secure source of energy has been a major concern for industry-rich, resource-poor Japan. It is a concern that has been further heightened by growing insecurity in the world and rising tension in the Middle East -- its principal energy source. A new geopolitical concern about...

Rolling Shocks Explain Why the World Is So Depressed

August 12, 2011
It’s an expectation that free economies and political systems return to normal after periods of volatility. But that’s not always so, explains David Ignatius in his column for the Daily Star. “A disruption that initially seems manageable gets bigger and more dangerous as the system oscillates up...
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