Marketplace for Friday, October 19, 2012
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Economist John Maynard Keynes predicted long ago that new technologies would by now allow people to work only 15-hour work weeks. But are we closer to that than we think? Meanwhile, we look into whether bookshelf makers have been hurt by the shrinking publishing industry. In an effort to affect climate change, a California businessman dumped 100 tons of iron dust into the Pacific Ocean. On the 25th anniversary of Black Monday, we explore the chances of it happening again. And China bureau chief Rob Schmitz looks back into history of the trade relationship between the U.S. and China.
Posted In: markets, Black Monday, Wall Street, flash crash
The markets tumbled Friday, but the declines were nothing compared to the Black Monday crash of Oct. 19, 1987. The Dow Jones shed 22 percent -- the equivalent of a 3,000-point drop today.
Posted In: Richard Nixon, China
In this latest installment of a monthly series about the people who make their living along Changle Road in Shanghai, Qiu Huanxi remembers the week President Richard Nixon came to the Street of Eternal Happiness to change history.
Posted In: iron, geo-engineering, oceans, carbon credits
An entrepreneur under contract with a native village in Canada dumped tons of iron in the Pacific to spark a plankton bloom that would capture carbon dioxide. That violated ocean treaties, and angered scientists who are studying that kind of geo-engineering.
Posted In: Weekly Wrap
Time for the Weekly Wrap. This week: The Dow suffers a 200-point drop, tech companies see lower-than-expected earnings reports.