Speak and Write like The Economist: Говори и пиши как The Eсonomist. Сергей Кузнецов
US Steel at the turn of the 20th century, Charles Schwab was perhaps the first person in America to earn a salary of $1m a year. What made him so successful? Was he a genius? No. Did he know more about steel than other people? Certainly not. So how did he get ahead? Schwab knew how "to make people like him".
At present the tallest is the Burj Khalifa in Dubai, which was completed in 2010 and, at 828 metres, shot past the previous record-holder, the 508-metre Taipei 101 tower. The Mecca Royal Clock Tower in Saudi Arabia, completed in 2012, is now, at 601 metres, the second-tallest. The Freedom Tower in lower Manhattan, built near the site of the World Trade Centre's twin towers (417 metres and 415 metres) that were destroyed by al-Qaeda in 2001, had its spire added in May to reach 541 metres. But work has now started on the Kingdom Tower in Jeddah, Saudi Arabia. Its exact proposed height is still a secret, but it will be at least a kilometre.
Scratch the surface of the planet and the chances that hydrocarbons will spew forth appear to grow by the day. This week America's Energy Information Administration (EIA) released new estimates of the amount of gas in the world's shale beds. It reckons that there are 7,299 trillion cubic feet, 10 % more than its 2011 estimate. The EIA's estimates for shale oil, not included in the 2011 numbers, are a staggering 345 billion barrels, adding a tenth to the world's total oil resources.
You can happily go through a day consuming nothing but the products of family concerns: reading the New York Times (or the Daily Mail), driving a BMW (or a Ford or a Fiat), making calls on your Samsung Galaxy, munching on Mars Bars and watching Fox on your Comcast cable.
He was a man of splendid abilities, but utterly corrupt. Like rotten mackerel by moonlight, he shines and stinks.
Koch Industries has also demonstrated a striking ability to reform itself. Prodded by the spate of legal suits in the late 1990s, the firm introduced a big safety programme. Charles's corporate mantra was "10,000 % compliance with all laws and regulations", by which he meant 100 % compliance from 100 % of employees.
Gold miners were supposed to be "believers" in gold rather than efficient managers out to maximise profits.
The best way to find Albany on a map is to look for the intersection of greed and ambition.
Simon Kuznets, a Nobel laureate, is supposed to have remarked: "There are four kinds of countries in the world: developed countries, undeveloped countries, Japan and Argentina."
The supply side sets the scene; the demand side provides the drama.
Facebook, Google and Groupon were all founded by people in their 20s or teens. Mark Zuckerberg, aged 27, will soon be able to count his years on earth in billions of dollars.
Relying on the import of money, workers and brains, America is a Ponzi scheme that works.
Managers who rely too much on their strengths may become hammers that see every problem as a nail.
Diamonds, famously, are a girl's best friend, graphite makes good pencil lead.
Walmart, the world's biggest retailer, has 1,500 employees in Silicon Valley trying to out-Amazon Amazon in areas such as logistics and making the most of social media.
Of the 7 billion people alive on the planet, 1.1 billion subsist below the internationally accepted extreme-poverty line of $1.25 a day. America's poverty line is $63 a day for a family of four.
When, as happened during the Napoleonic wars, a slaver's ship was captured by French privateers, the blacks aboard were often treated more carefully than the white seamen. The blacks were prized goods and their worth soared as commodity-based booms in the New World overwhelmed the sentiments of liberty, equality and fraternity. Once enslaved, the Africans were valuable as "investments (purchased and then rented out as labourers), credit (used to secure loans), property, commodities, and capital, making them an odd mix of abstract and concrete values."
Hundreds of jobs depend on Hollywood productions: blockbusters may require the help of as many as 1,000 firms. Producers need massages, assistants require stationery and starlets want scented candles and fresh roses; let alone what props managers, set-builders and costume departments will holler for.
Aluminium was once more costly than gold. Napoleon III, emperor of France, reserved cutlery made from it for his most favoured guests, and the Washington monument, in America's capital, was capped with it not because the builders were cheapskates but because they wanted to show.
The farthing was once made of silver, was steadily switched to cheaper copper, tin and bronze.
I am young and unemployed and face a lifetime on the dole. Why? This morning I collected my jobseekers allowance from my bank, where I have it paid directly into my account. I did not see a cashier, but withdrew money from a cash point. Then I went to the supermarket and bought French apples, German sausage and Danish bacon. I scanned the items at a self-service till, no need for a check-out assistant. I went home, switched on my Chinese computer and applied for jobs online. I do not send letters through the post; e-mail is more convenient. I then shopped online, I rarely use local shops. Who can I blame for the lack of jobs?
The original sin begins (depending on the chapter) in 1914, when the world suspended the gold standard at the start of the first world war; in 1933, when Franklin Roosevelt devalued the dollar against gold; in 1971, when Richard Nixon ended the dollar's convertibility to gold under the Bretton Woods system; or in 1987, when Alan Greenspan cut interest rates after the stockmarket crash.
What is the single most important price in the world? Popular answers are the price of oil, American interest rates or the dollar. Yet Chinese wages are, arguably, more important. China has by far the world's biggest labour force, of around 800m – almost twice that of America, the European Union and Japan combined.
In 1820, as some historians reckon and Chinese commentators like to point out, China's GDP was one-third of the world total. Then the reversals of the century of humiliation brought it low. By the 1960s, China's GDP had dropped to just 4 % of the world total. Now it has recovered to about one-sixth of the world's GDP – and at least 90 % of America's – in purchasing-power parity terms, according to the Conference Board, a business research organisation. Nationalists eagerly await the day when China's economy becomes once more the biggest in the world by any measure.
The super-duper rich are surprisingly unimaginative when it comes to dreaming up new ways to outdo each other. It includes such essentials as a mini-submarine, a hair salon and two helipads. Owning a yacht with only one helipad would be embarrassing – a bit like owning a football club that is only fourth in England's Premier League.
Over 1.2 billion people have to defecate in the open. Surprisingly, some of those who have to defecate in the open do not mind. Some rural men, and even women, quite enjoy a social squat in the bushes. Slum-dwellers in Nairobi have to pick their way through streams of sewage and take care to avoid "flying toilets", plastic bags filled with excrement that are flung with desperate abandon into the night. Nearly two-fifths of the United States' 25,000 sewer systems illegally discharged raw sewage or other nasty stuff into rivers or lakes in 2007–09, and over 40 % of the country's waters are considered dangerously polluted. Contaminated water lays low almost 20m Americans a year.
Cyprus never misses an opportunity to miss an opportunity.
In Ghana the funereal send-off is as important as the life itself. But the costs, borne by extended families, can be punitive. Some 45 % live on less than $1 a day, 79 % on less than $2. Yet funerals tend to cost between $2,000 and $3,500. "Money measures the quality of the funeral and the family," says Sjaak van der Geest, an anthropologist. The more cash spent, the higher the reputation of the deceased and the family. Mr Okai died in hospital, then spent almost three months in the morgue, at a cost of $521: the longer your body is in the fridge, the more prestigious. The Ga king, recently buried in Accra, was on ice for 18 months; the Dagbon king, in northern Ghana, for a record four years.
Nobody knows how many homeless there are in Paris.
US Treasury Secretary Geithner's life in the trenches has produced its own