When the U.S. government imagines the global future, the term BRIC features prominently. The concept was created in 2001 when researchers at Goldman Sachs identified four critical emerging powers—Brazil, Russia, India and China. By 2050, claimed these experts, the BRIC powers would be challenging the U.S. for worldwide economic supremacy. U.S. officials have taken this forecast very seriously.
Last month the U.S. Treasury Department gave vent to public outrage at the financial industry and ordered companies that were bailed out by government funds to reduce the basic salaries of their top 25 employees.
After rumors circulated that President Obama’s health-care reform would institute “death panels” for the elderly, Congress quickly abandoned any effort to address end-of-life issues in health-care legislation.
At first glimpse, Marcelo Rossi is a textbook example of the pastor as showman. A handsome, stylish man in his early forties, he leads a flourishing São Paulo congregation legendary for its music. He dances during worship, performing “the Lord’s aerobics.” And people respond. One of his stadium revivals attracted 70,000 believers.
Dan Price, owner and chief executive officer of Gravity Payments, has cut his salary and given each of his employees a $70,000 wage. This move raises the salaries for more than half of the 120-person staff at his credit card processing company in Seattle. Many business leaders have criticized his move. Rush Limbaugh called it socialist, predicting the company would fail. Tim Kane, an economist at the conservative Hoover Institute at Stanford University, said, “It will reduce turnover, increase morale, and help him build an even greater company.” The day after the new wage plan was made public, Price received letters from 3,500 job applicants, and Gravity signed up several new clients (New York Times, April 19).