Speak and Write like The Economist: Говори и пиши как The Eсonomist - Кузнецов Сергей Александрович - Страница 10

US Treasury Secretary Geithner's life in the trenches has produced its own vocabulary. Serious decisions are "consequential", good ideas are "cool", better ideas are "compelling" and the best ideas are at "the optimal frontier". During a crisis "plan beats no plan", jury-rigged measures in the face of unavoidable disaster are "foam on the runway", and bad outcomes are "dark". Managing public perceptions is called "theatre". "Fuck" also holds a prominent place in the Geithner lexicon, usually as an adjective, not a verb, as in "I have no fucking idea."

You have a decent job and work hard. You keep your nose clean, respect authority and have never joined a protest march. Suddenly you have the bad luck to face a cruel and seemingly impossible choice. Your superiors tell you to do something outrageous or unacceptable. Do you obey or, at grave personal cost, refuse?

As Fred Hirsch argued in his 1977 book, "The Social Limits to Growth", many good things in life are "positional". You can enjoy them only if others don't. Sometimes, a quick car, fine suit or attractive house is not enough. One must have the fastest car, finest suit or priciest house.

Ekhart, Indiana, is the RV capital of the world.

Mr Abe promised that Japan would enter trade negotiations to join the American-led Trans-Pacific Partnership (TPP) – though he offered no promise to eliminate tariffs of up to 777.7 % on rice.

Family history has large effects that persist for much greater spans of time. Fathers matter, but so do grandfathers and great-grandfathers. Indeed, it may take as long as 300–500 years for high- and low-status families to produce descendants with equal chances of being in various parts of the income spectrum.

Acquisitions can also be a form of financial engineering. This was a favourite game of the conglomerates of the 1970s and 1980s. A company with highly rated shares would bid for a group with poorly rated equity. Say Acme has 100m shares, earnings of $10m (earnings per share of 10 cents) and a share price of $2 (a price-earnings ratio of 20). Grotco has the same earnings and number of shares but its share price is just $1 (a p/e of 10). If Acme makes an all-share bid valuing Grotco at $1.20, it will need to issue 60m new shares. The combined group will have $20m of earnings, 160m shares and earnings per share of 12.5 cents. With the help of nothing more than maths, Acme's earnings per share will have jumped by 25 %. Merger booms usually peak with the kind of deal that resembles a Las Vegas wedding after an alcohol-fuelled night: both parties regret it in the morning.

Overall, the number without homes in the US is staggering. The number of homeless veterans of the Vietnam war is greater than the number who died in it. On any given night in America more than 640,000 men, women and children are forced to seek shelter, live in their cars, or sleep on the streets. Last year nearly 1.6m people used an emergency shelter.

Obama sold Chrysler to Italians who are going to build Jeeps in China.

The euro needs French reform, German extravagance and Italian political maturity.

The cult of the insider in Japan is rooted in its paddy fields, some scholars argue. To cultivate wet rice, villagers need to work together, sharing land, labour, water and gossip. Anyone not in the group is out of the loop. There is something of the rice paddy about Japan's capital markets, too.

The 1912 games were the last one where gold medals were made entirely of gold. Now they consist mainly of silver with a thin coat of gold. Winners in London are advised not to bite too hard on their medals, as they will have a gold content of only about 1.5 %.

When asked why he robbed banks, Willie Sutton, a prolific bank robber (pictured, after he retired), is said to have replied: "Because that's where the money is." Sutton reportedly pinched $2m during a lifetime of crime.

The real money is where the pain is.