In a Nutshell

Note: New content has been inserted in italicized, bold font. Overview A powerful 9.0-magnitude earthquake hit Japan on Friday (March 11) at 1446 local time (0546 GMT), unleashing massive tsunami waves...

ISLAMABAD, Pakistan. November 22, 2010 - Pakistan's permanent envoy to the UN, Abdullah Hussain Haroon said India will never be able to secure a permanent seat at the UN...

A new form of military coup d'état is emerging in South America. Today's new militarism is characterized by leftist military men who lead a rebellion, are jailed for it, and...

Still, the hope for a Northwest Passage lingers and has become central to a key international debate heating up over the Arctic north. If climate change and global warming are real -- and there's currently little doubt over that-then it stands to reason that the ice covering Arctic waterways will decrease in coming decades, presenting fewer navigational problems for shipping. If the ice recedes -- and few experts expect it will do so year-round-cargo shipping times and distances could, the thinking goes, be cut: A 12,400-mile voyage from Japan to England by way of the Panama Canal could be shortened to less than 8,700 miles using the Northwest Passage, saving 14 days and costs.

Here is a copy of the letter that was sent to Obama and was reminded again after he was inaugurated. Effective crisis management solutions must address fundamental causes rather than symptoms. Among the many causes of the crisis are government credit-allocation schemes that distort incentives and adversely affect the function of markets while undermining the effectiveness of private and government supervision. As in this case, such incentive distortions eventually produce financial crisis.