The Promise & Perils of the New Economy

Table of Contents

In Essence

A Survey of Recent ArticlesIs there a child-care crisis in America? A speaker at a White House conference on the subject a year ago said, to much applause, that there is a crisis â??so acute that child care workers in many areas of the country are unable to find adequate day care for their own children.â?쳌 Though this image of mothers stymied in their desire to rush off to care for other peopleâ??s children their inability to hand off their own seemed to put the situation in...

Steve Pincus, in American Historical Review (June 1998), 914 Atwater, Indiana Univ., Bloomington, Ind. 47405. Many historians believe that a fateful â??republican momentâ?쳌 (or â??Machiavellian moment,â?쳌 as the title of J. G. A. Pocockâ??s 1975 work has it) occurred in England in the 1650s, a moment that had a formative impact on the creation of the American republic more than a century later. The moment occurred when John Milton, James Harrington, and others adopted t...

Steve Pincus, in American Historical Review (June 1998), 914 Atwater, Indiana Univ., Bloomington, Ind. 47405. Many historians believe that a fateful â??republican momentâ?쳌 (or â??Machiavellian moment,â?쳌 as the title of J. G. A. Pocockâ??s 1975 work has it) occurred in England in the 1650s, a moment that had a formative impact on the creation of the American republic more than a century later. The moment occurred when John Milton, James Harrington, and others adopted t...




In 1918, Wilson was on the minds of 21,000 army officers and enlisted men at Camp Sherman, Ohio.

making direct appeals to the public and needs immediate public approval to sustain his influence. Other political scientists worry that Congress, now more open and responsive than ever, can no longer legislate effectively.Since the 1960s, Quirk and Hinchliffe argue, American political leaders have increasingly pandered to the â??uninformed prejudices of the mass publicâ?쳌 and slighted the counsel of â??disinterestedâ?쳌 policy experts. The authorsâ?? long list of examples...

â??Women, Biology, and World Politicsâ?쳌 Francis Fukuyama, in Foreign Affairs (Sept.â??Oct. 1998), 58 E. 68th St., New York, N.Y. 10021.If women ran the world, many feminists say, it would be a very different place, with much less aggression and violence. Fukuyama, author of The End of History and the Last Man (1992) and a professor of public policy at George Mason University, not only agrees but believes that â??all postindustrial or Western societies are movingâ?쳌...

young, ambitious, unconstrained men,â?쳌 such as, say, a future Saddam Hussein armed with nuclear weapons. That doesnâ??t mean that men must rule the world, Fukuyama adds.â??Masculine policies will still be required, though not necessarily masculine leaders.â?쳌 Tough female leaders like former British prime minister Margaret Thatcher, rather than more stereotypically feminine ones like Gro Harlem Brundtland, the former prime minister of Norway, may be the wave of the future.ECONOMICS,...

young, ambitious, unconstrained men,â?쳌 such as, say, a future Saddam Hussein armed with nuclear weapons. That doesnâ??t mean that men must rule the world, Fukuyama adds.â??Masculine policies will still be required, though not necessarily masculine leaders.â?쳌 Tough female leaders like former British prime minister Margaret Thatcher, rather than more stereotypically feminine ones like Gro Harlem Brundtland, the former prime minister of Norway, may be the wave of the future.ECONOMICS,...

regulating the supply of money, could do very much to control inflation. Monetary policy influenced interest rates, and that might well affect the confidence of businessmen and their willingness to invest. But otherwise, monetary policy was of scant value, in his view, which was also the conventional wisdom of the day. Monetarist economists such as Milton Friedman, who believed that controlling inflation meant regulating the money supply, were then in a minority. Keynesian economists, who wanted...

A Survey of Recent ArticlesProgress is the largely suppressed story of race and race relations over the past halfcentury,â?쳌 assert Abigail and Stephan Thernstrom, co-authors of last yearâ??s controversial America in Black and White, writing in a special Brookings Review (Spring 1998) issue on black America. More than 40 percent of African Americans now consider themselves middle class. But the Thernstroms also note that close to 30 percent of black families still live in poverty,...

universe of some Ivy Leaguers, he says, â??a more astringent meritocracy lets countless individuals rise.â?쳌 â??Eliteâ?쳌 liberals who favor racial preferences, Sleeper charges, are â??deeply fatalistic . . . about blacksâ?? capacities and prospectsâ??and dismayingly fainthearted about undertaking any social and moral initiatives that might really reduce blacksâ?? measured deficiencies.â?쳌 The best way to refute the notionsâ??privately held,...

â??Transitions in Family Structure and Adolescent Well-Beingâ?쳌 Ed Spruijt and Martijn de Goede, in Adolescence (Winter 1997), Libra Publishers, Inc., 3089C Clairemont Dr., Ste. 383,San Diego, Calif. 92117. Should parents who are always at each otherâ??s throats stay together for the sake of the children? The traditional answer is yes; the modern one is no. A study of 2,517 Dutch youths (ages 15â??24) suggests there may be something to the older view.The overwhelming m...

black migrants from the West, as well as from the Northeast and Midwest, reports Frey, a demographer with the University of Michiganâ??s Population Studies Center.The historic black exodus from the South between 1910 and the late 1960s began to be reversed in the 1970s, Frey notes, as the result of â??industrial downsizing in the North and an improving racial and economic climate in the South.â?쳌 Between 1975 and 1980, and between 1985 and 1990, the South gained black migrants,...

their teams.) â??Professional teams have become an integral part of our community fabric and our emotional and civic lives,â?쳌 they maintain. â??This may justify stadium subsidies in certain communities, but common sense dictates that when an owner demands a subsidy two to three times the value of the team itself, fans would be much better off purchasing the team themselvesâ?쳌 (assuming the owner will sell it).Maybe so. But the Packers â??are not a model likely to...

their teams.) â??Professional teams have become an integral part of our community fabric and our emotional and civic lives,â?쳌 they maintain. â??This may justify stadium subsidies in certain communities, but common sense dictates that when an owner demands a subsidy two to three times the value of the team itself, fans would be much better off purchasing the team themselvesâ?쳌 (assuming the owner will sell it).Maybe so. But the Packers â??are not a model likely to...

former vice president Dan Quayleâ??s family, have led the way, showing in hard-hitting series how the Indiana legislature had been â??hijackedâ?쳌 and â??plunderedâ?쳌 â??an extraordinary coalition of about 40 big-business interests, led by the Indiana Chamber of Commerce.â?쳌 â??As editors seek alternatives to â??boringâ?? governmental process stories,â?쳌 say Layton and Walton, â??database journalism (despite a name that suggests...

former vice president Dan Quayleâ??s family, have led the way, showing in hard-hitting series how the Indiana legislature had been â??hijackedâ?쳌 and â??plunderedâ?쳌 â??an extraordinary coalition of about 40 big-business interests, led by the Indiana Chamber of Commerce.â?쳌 â??As editors seek alternatives to â??boringâ?? governmental process stories,â?쳌 say Layton and Walton, â??database journalism (despite a name that suggests...

Glenn Tinder, a Lutheran, in The Political Meaning of Christianity (1989), and French Catholic philosopher Jacques Maritain (1882â??1973), in Christianity and Democracy (1945) and other works. Tinder claims that the conception of â??the exalted individualâ?쳌 underlies Christian social and political thinking, while Maritain defends the â??dignity of the human personâ?쳌 and a political theory of â??personalist democracy.â?쳌 The outlook of the two philosophers,...

the Los Angeles Times, only 70 percent of Jews said they were raising their children as Jews. Clearly, Krauthammer notes, â??a population in which the biological replacement rate is 80 percent and the cultural replacement rate is 70 percent is headed for extinction.â?쳌Greenberg, the editor of MindField (a series of books on current issues), also fears that Israel has increased the vulnerability of the Jews, but for very different reasons. Before the founding of Israel, she says, the...

the same dilemma. â??Einsteinâ??s relativity and the oddities of quantum mechanics both drew attention to the inescapable involvement of the act of measurement with what is measured,â?쳌 McNeill notes.Cosmologists, he continues, now debate whether the universe of their surmise may be forced â??to conform to what human minds and humanly created instruments are capable of observing. The resulting epistemological dilemma is acute, even though practicing scientists usually prefer...

Richard A. Kerr, in Science (Oct. 24, 1997), 1200 New York Ave. N.W., Washington, D.C. 20005. Does evolution ever take a holiday? Strict Darwinists maintain that life is always in a state of change, with species continually coming and going. But some paleontologists, reports Kerr, a Science staff writer, are suggesting that hundreds of millions of years ago, entire communities of marine animals of various species remained virtually unchanged for millions of years, then plunged into brief frenzies o...

Richard A. Kerr, in Science (Oct. 24, 1997), 1200 New York Ave. N.W., Washington, D.C. 20005. Does evolution ever take a holiday? Strict Darwinists maintain that life is always in a state of change, with species continually coming and going. But some paleontologists, reports Kerr, a Science staff writer, are suggesting that hundreds of millions of years ago, entire communities of marine animals of various species remained virtually unchanged for millions of years, then plunged into brief frenzies o...

â??The Indian Conquest of Catholic Artâ?쳌 Gauvin Alexander Bailey, in Art Journal (Spring 1998), College Art Assn., 275 Seventh Ave., New York, N.Y. 10001. It was by conquest, not choice, that the art of the Amerindians of early colonial Latin America became more European. But in 16th- and early 17th-century India, the story was different. There, writes Bailey, a profes-sor of Renaissance and Baroque art at Clark University, the Mughal emperor elected, on his own initiative, to s...

on the verge of conversion, but, in fact, the Mughals were using the Christian art for their own purposes.As Muslims presiding over a predominantly Hindu people, Akbar and his son Jahangir (r. 1605â??27), who succeeded him, encouraged religious tolerance and â??forged a syncretic ideology of kingship that would reflect the multicultural makeup of their growing empire, while promoting their own unifying image as divinely chosen rulersâ?쳌 for the new Muslim millennium that began...

evision dominate American life, the sense to honky-tonk, the Nashville Sound, New of isolation and disenfranchisement that was Traditionalism, and todayâ??s sound. once central to the South has all but disap-And the latest music is not all bad, Feiler peared.â?쳌 The old stereotypes of â??barefoot, says. â??To be sure, much of whatâ??s heard on pregnant women and toothless, racist menâ?쳌 country radio is the worst representation have receded, and other Americans...

Dave Hickey, in Art Issues (Summer 1998), 8721 Santa Monica Blvd., Ste. 6, Los Angeles, Calif. 90069. The art world has grown to massive proportions in recent decades, thanks to the largesse of the federal government, major universities, and public and private foundations. But something vital is missing: an actively engaged public, contends Hickey, a columnist for Art Issues and a professor of art at the University of Nevada, Las Vegas. The museums and other institutions exhibiting contemporary a...

Dave Hickey, in Art Issues (Summer 1998), 8721 Santa Monica Blvd., Ste. 6, Los Angeles, Calif. 90069. The art world has grown to massive proportions in recent decades, thanks to the largesse of the federal government, major universities, and public and private foundations. But something vital is missing: an actively engaged public, contends Hickey, a columnist for Art Issues and a professor of art at the University of Nevada, Las Vegas. The museums and other institutions exhibiting contemporary a...

the ex-Communist Democratic Left Alliance (SLD) and the Polish Peasant Party, she says, â??basically carried onâ?쳌 the shock therapy plan devised in late 1989 the Solidarity government finance minister, Leszek Balcerowicz. While fudging on mass privatization of state-held enterprises, the new SLD-dominated government â??kept its hands off the new small- and mediumsized private firms that were becoming the engine of the economy.â?쳌In retrospect, Pond says, 1993 was when...

more than six percentannually between 1994 and 1997. 1997, â??up to 65 percent or even 70 percent of the economyâ?쳌 was in the hands of the private sector. Unemployment was down to 12 percent, inflation to 14 percent. In the 1997 election, Balcerowicz, the architect of the shock therapy, was vindicated. His Freedom Union party won 13 percent of the vote and joined in a coalition government headed by the new Solidarity Election Action (AWS).In less than a decade, writes Pond, the...

Ken Menkhaus, and â??Somaliland Goes It Aloneâ?쳌 Gerard Prunier, in Current History (May 1998), 4225 Main St., Philadelphia, Pa. 19127. Ever since the outside world gave up its efforts to re-establish a central government in Somalia three years ago, it has been widely assumed that this country in the Horn of Africa fell back into chaos and violence. This is not the case, writes Menkhaus, a political scientist at Davidson College. â??While Somalia today is stateless, it is not a...

Reviews of new research at public agencies and private institutions â??Gambling: Socioeconomic Impacts and Public Policyâ?쳌The Annals (Mar. 1998) of the American Academy of Political and Social Science, c/o Sage Publications, Inc., 2455 Teller Rd., Thousand Oaks, Calif. 91320. 242 pp. $29; paper, $19Editor: James H. Frey America now is a nation of gamblers. Until a decade ago, Las Vegas-style casino gambling was confined to Nevada and New Jersey, though most states had lo...

one-third in less than a generation, according to one study. 1988, the son of a blue-collar worker had a nearly 40 percent chance of reaching white-collar status. More meritocratic hiring practices, reduced self-employment, and increased access to higher education are responsible for the trend, the authors say. But stalled economic growth has almost offset the effects of increased intergenerational upward mobility, producing fewer â??goodâ?쳌 jobs and stagnant income growth rates for...

Book Reviews

THE GOOD CITIZEN: A History of American Civic Life.By Michael Schudson. Free Press. 390 pp. $27.50

ANTON CHEKHOV: A Life. By Donald Rayfield. Henry Holt. 674 pp. $35 CHEKHOV: The Hidden Ground. By Philip Callow. Ivan R. Dee. 428 pp. $30

Essays

As the 20th century ends, legions of the powerful--politicians, intellectuals, journalists, business leaders, and visionaries--are embarking on what can only be called pilgrimages.

J. Bradford De Long

Seventy years ago, W. I. Thomas and Dorothy Swaine Thomas proclaimed one of sociology's most influential ideas: "If men define situations as real, they are real in their consequences." Their case in point was a prisoner who attacked people he heard mumbling absent-mindedly to themselves.

Edward Tenner

The new very broadband high capacity networks . . . ought to be built by the federal government and then transitioned into private industry.
--Vice President-elect Al Gore, at the December 1992 postelection economic summit in Little Rock
 

Leslie D. Simon

Digital technology is opening up new worlds of potential, few more enticing than the emerging global marketplace....

Pamela Samuelson

Longevity alone makes Byzantium remarkable. Lasting almost 1,200 years, it outlived all of the other great empires. More impressive than mere age are the reach and influence of its civilization. Russians, Serbs, Bulgarians, and others owe to Byzantium, in varying degrees, their Christianity, their literacy, and the beginnings of their art, literature, and architecture. Yet for all that, the Byzantine Empire has been slighted or misconstrued, even bysome notable historians. To see the Byzantine recordclearly, our author argues, is to understand not only aonce and great power but a civilizing force thatcontinues to shape the contemporary world.

Warren Treadgold

Philosopher Hannah Arendt's famous explanation of the evil that produced the Holocaust and other 20th-century horrors falls short of adequate.

Stephen Miller

The idea of an untouched Arcadia is an illusion we can no longer afford.

Marilynne Robinson

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