For more than a decade, NewWork News has surveyed the world's news having to do with life and work in the revolutionary new world economy. Over all these years, we have not made a significant effort to distinguish between straight reporting and editorial comment.

Written by Gary Johnson, NewWork News each day is more like a newspaper or magazine column than a newspaper's front page. However, nearly every item is linked to at least one original story from somebody else's "front page" so as to enable our readers easily to examine the original story without deliberate interpretation or commentary.

Some NewWork News items are highly analytical. Several of these have been gathered together for presentation below. All have been written by Gary Johnson.

Today's NewWork News Web Tip: Health Compare (Saturday 1/31/09)
If you believe, as many do, that the American health care system is broken, you surely could do worse than to consult the RAND Corporation's Health Compare site.

Several scholars invented RAND after World War II, and, in the process, largely invented the modern private think-tank. For years, RAND did Cold War research, but, since the Cold War ended, this nonprofit organization has tackled other nearly intractable problems.

Today's NewWork News Web Tip: Virginia Emigrants to Liberia (Friday 1/30/09)
Liberia originally came from the word "Liberty," and was established by Americans with predominant African-American ancestry. They were 3,700 free blacks from Virginia, and this site from the University of Virginia tells all about them.

Still More: Job cuts at AOL (Wednesday 1/28/09)
At one time, about the only online service available was Compuserve. Then, former Pizza Hut man, Steve Case, started America Online, or AOL. Then, the dot-com-all-ye-faithful bubble of the late 1990s happened, and, suddenly, AOL's market cap was enormous. Time recently had merged with Warner, but when we heard that Time-Warner was going to merge with AOL, we naturally assumed that the former would acquire the latter.

Not, so--it was the other way around. AOL bought Time-Warner. It's still hard to say it, because it still doesn't seem as though it could possibly have been true.

Still, it was, and the "bloody merger" of all time managed to result in the loss of $200 billion of shareholder value in only three years. The four men who brought it off all had remarkable resumes and had accomplished remarkable things before they found each other, but the merger of AOL with Time-Warner turned out to be the sort of fiasco that business students will be analyzing for generations.

Steve Case is said to have left with hundreds of millions of dollars, while former radio disc jockey turned corporate rescue legend Bob Pittman is said to have finished with tens of millions of dollars. The mess seems to have ended Jerry Levin's career, and turned Ted Turner from a super-duper muti-billionaire into an ordinary multi-billionaire.

It's hard to believe that AOL is still around at all, or that its decision to cut 700 jobs really can amount to 10 percent of its workforce, but it's all true.

How to reverse the newly souring relationship between a superpower and a former superpower (Tuesday 1/27/09)
When Russia was one of fifteen parts of the old Soviet Union, rather than one of fifteen more-or-less independent countries, its relationship to the United States wasn't particularly cordial.

Then, the Soviet Union underwent "smithereening," and Russia appeared to be on its way to becoming a fledgling capitalist democracy friendly to the United States. An American President even thought he could look into Vladimir Putin's soul and liked what he saw.

However, while a new "cold war" doesn't seem to be in sight, the relationship between Russia and the United States seems to have declined during the past few years. Brookings Institution scholar Steven Pifer has published a policy paper containing recommendations on how this can be turned around.

Help centers and the newly laid off white-collar multitudes (Tuesday 1/27/09)
During the early 1990s or so, American corporations sliced several echelons out of their organizations, which meant a very large number of unemployed middle-aged middle managers, many with MBAs and impressive resumes. Help centers and self-help groups sprung up all over the United States with the intention of helping these people find new jobs. Many were so good that their resumes would have sold almost instantly during previous years. It wasn't easy for them then, though, because there were so many of them.

Michael Luo writes in the New York Times that the current increasingly severe recession is creating a vast number of unemployed, many of whom resemble the unemployed executives and professionals of years past, and how help organizations have become "tough love" outfits.

That little light at the end of the tunnel may not be a locomotive after all (Monday 1/26/09)
Investors seem pleased that the leading economic indicators are up and that home sales have risen some too. But, they may be particularly happy to hear about the big pharmaceutical merger, even though Pfizer will be joining other companies in the layoff category. Suzanna Stagemeyer agrees that Sprint Nextel's reduction plans are good ones, but only a start.

General Motors is in the news again today, and for the types of reasons which may not surprise you. It all has to do with job cuts and plant closings.

If you aren't depressed now, maybe this will do it: A new survey conducted by the National Association for Business Economics paints a dismal economic picture, and says that more layoffs are coming following the tens of thousands of new ones just added to all that have come before.

Anxiety among China's newly educated (Monday 1/26/09)
But, they're not the only ones. If you think that China's greatly reduced GNP growth and its consequenes are worrying the nation's educated young, as Edward Wong reports from Beijing, how about the great multitudes of Chinese who are trying to live on the equivalent of a couple of U. S. dollars per day?

Barack Obama is inaugurated President of the United States (Tuesday 1/20/09)
Barack Obama has become the first African-American President of the United States, and, as Ann Gearan and Jim Kuhnhenn report, the President clearly understands the problems he and the nation face, given the content of his first inaugural address. However, solutions to the problems are not so obvious, probably not to him, and certainly not to a lot of other people.

Incidentally, the new President isn't exactly what most Americans have in mind when they use the expression "African-American." even though he may be exactly the sort of transitional figure that many "white" Americans will be able to accept. By any measure, it has been an historic day and American culture seems to have changed. However, the changes have not been so sudden as some commentators today have suggested, because "seismic pressures" have been building for years.

While the term "African-American" is a literal expression of President Obama's ancestry, none of his ancestors were American slaves or went through the indignities and miseries of Jim Crow. Moreover, his ancestry is as much "white" as "black," even though he's almost always referred to as "black," even by his most outspoken supporters. Among other things, it brings to mind the arbitrary categories of the old South Africa.

However, we recognize that, while he was raised mostly by American caucasians, he spent a considerable period during his youth agonizing over his identity, finally deciding to identify with his "black" side. He chose to live and work in south Chicago, and he married a woman who clearly is closer to what most Americans have in mind when they use the term "African-American."

As the President has pointed out, Michelle has the "blood" of slaves running through her veins, as well as that of slave holders, which is fairly typical of Americans with ancestors who experienced slavery or the Jim Crow period. One of the most remarkable aspects of what has happened today is that Michelle is America's new First Lady, living in a mansion once built mostly by American slaves.

We've been a little concerned that the Obamas, as well as Colin Powell and Condoleezza Rice, have suffered some from the "Sidney Poitier syndrome." Despite being a remarkable person himself--not just as an accomplished actor--Mr. Poitier usually wasn't cast as an ordinary guy in feature films. Usually, his characters were far smarter, far better educated, and far more virtuous than the film's white characters.

Sidney Poitier films suggested the reality of daily life that to succeed in America, it was okay to be an "ordinary person" if one were "white," but not if one were "black." It appears that there was a long period during which many Americans could accept blacks in films or in life only if they were exceptional persons.

The fact is that President Obama and Michelle do appear to be exceptional human beings, and she appears to be his equal in nearly every way. Both are tremendously bright and competent, tremendously well-educated, and both appear to be exceptional parents, leading a family that will be a model for most Americans of all ethnic backgrounds. They may very well be the kinds of people who SHOULD be leading the country and living in the White House.

Have Apple employees lost their Jobs--permanently? (Sunday 1/18/09)
Investors and others continue to wonder what's really going with Steve Jobs and his health, and what will happen to Apple if he doesn't return in five months, as he has indicated.

For years, Microsoft was so dependent on the person of Bill Gates that, if he continued to run the company, he would continue as the richest man in the world. However, it's likely that the slightest hint that he was leaving would have made Microsoft stock values plummet, would have made Bill far less rich, and could have wrecked the company. Then, the company finally moved beyond its great dependency on a single person. Finally, he was able to move on, and so was Microsoft.

Apple hasn't done that yet, and it appears that its fortunes still are tied closely to Steve Jobs. It's why so many people wish they knew what Steve's health issues really are all about.

Today's NewWork News Web Tip: China Heritage Quarterly (Sunday 1/18/09)
The Chinese diaspora has been remarkable. People of Chinese ancestry have populated much of the world. Moreover, China itself is the most populous country in the world, and, because it has had the most rapidly growing economy on Earth as well, China can be expected to have increased global influence during the years ahead.

For these reasons and more, it's important for most people to know more about Chinese culture and history. The Australian National University publishes the China Heritage Quarterly.

First hint from future "Chief Magistrate?" (Thursday 1/15/09)
Former Fed Head Paul Volker and others have a plan for changing the world's financial system, and it may portend what the President Elect has in mind.

Incidentally, many people referred to President Lincoln as the "Chief Magistrate," but we haven't heard that term too much lately. When did people stop using it as a synonym for "President of the United States?" We don't know either.

Today's NewWork News Web Tip: NOVA: Absolute Zero (Tuesday, 1/13/09)
At approximately minus 460 degrees Fahrenheit, absolute zero is even colder than Minnesota. Actually, it's the point at which all molecular activity ceases. The PBS television program, NOVA, has done a two-part series on the topic, along with a companion web site.

A gazillion here and a gazillion there, and, before you know, it adds up to real money (Monday, 1/12/09)
A billion dollars used to impress most people--that means a thousand million, after all. However, expectations change. The Bush administration decided that the financial system needed a boost, so it to provided it with $700 billion. Of course, that's over two years, though (!). Now, the upcoming Obama administration is intending to provide the American economy with an $800 stimulus boost. Together, these two plans will try to stabilize things and "prime the pump" with $1.5 trillion. That's trillion with a "t."

However, all of that original $700 billion hasn't been made available yet. The second half has to be turned loose by the Congress, and President Elect Obama wants Congress to do it soon.

Incidentally, our headline is a near-quotatation that was about billions originally, and has been attributed to the late Senator Everett Dirksen of Illinois, as well as others.

Today's NewWork News Web Tip: How to Avoid Getting Burned by the Next Bernard Madoff (Monday, 1/5/09)
If you don't feel that you have enough to worry about, it's time to begin worrying about your investments. Oh, wait a minute--with the stock market the way it's been, you've probably already been worrying about those. And, if you're among those who have lost money to Bernie Madoff's apparent shenanigans, the worrying might be ending as regret sets in.

But, what if the larcenous Mr. Madoff hasn't caught you? Not to worry--there are plenty of other vultures circling and plenty of other crooks out looking for you right now. How can you avoid becoming THEIR prey? Here are some things you can do to protect yourself and your assets.

Why the President Elect could still demand a recount (Sunday, 1/4/09)
Thomas Ferraro in Washington writes that "it's crunch time" for the new President-to-be and, for that matter, the Democrats.

Will the new President turn around and sign the big stimulus bill immediately after being sworn in? (Sunday, 1/4/09)
Probably not, even though that would be good PR, because President Elect Obama may have one of the largest television audiences in presidential history at noon on January 20. In fact, there is every reason to believe that Republicans in Congress would delay the bill, if only for that reason.

Still, it may not be possible for the Congress to have the bill ready for signing that soon, according to House Majority Leader Hoyer. He thinks that it will be February before the bill can reach the new President.

Incidentally, even though it may be accurate, we hope that the new administration won't call it the "Recovery and Investment Program." The abbreviation for that is RIP, which Roberta Johnson has pointed out, usually stands for "Rest in Peace."

Last year was an "Annus horribilis," as Elizabeth II and many Latin-speaking Romans would say (Friday, 1/2/09)
Tim Paradis writes about the dismal year that Wall Street had during 2008 and speculates about 2009 to come.

Meanwhile, Jeannine Aversa writes that 2009 isn't likely to be very nice for the unemployed or the people who will lose their jobs this year.

What is the world likely to think of 2009? Bailouts may provide some relief, but, then again... (Friday, 1/2/09)
Claudia Parsons writes from New York that governments all over the world are attempting to find ways to cope with a global recession that is likely to get worse, at least for a while.

What's going on? Why has the the global economy dipped so far, with few exceptions? Many people who may not understand why this is happening may not have a clear understanding of how the economic system works during good times either. In fact, nobody, including economists, understands how a global economic system, such as we have now, functions, because nobody has had experience with a highly globalized, interdependent world system before.

Still, as we have pointed out repeatedly, empirical questions are fundamentally the same in that WHAT IT TAKES to be right about something is the same for them all, whether they be questions that we typically refer to as "scientific" or "economic" or something else.

It's just that it's easier to DO "what it takes" in some cases than in others. For instance, a double-blind controlled experiment is part of "what it takes," but such things cannot be conducted in economics. We can't do "what it takes" in relation to economic questions, so there always will be a range of uncertainty. It helps account for why there are "liberal" economists and "conservative" economists, but no "liberal chemists" or "conservative chemists," so far as we know. We can apply trustworthy methods more readily to issues relating to the latter topic than to the former

Russia to Ukraine: Happy New Year, and drop dead (Thursday, 1/1/09)
Russia and Ukraine used to be parts of the Soviet Union, with Russia being the largest and most powerful of fifteen republics. The old Soviet Union is gone, but Russia and many of the other former republics--now all independent countries--retain power relationships similar to what they had before. For instance, Russia and Ukraine have failed in their negotiations over Russian gas, so the big Russian bear simply cut off the flow.

Russia has become a major petroleum exporter, and its economy benefitted great from the very high price of oil last summer. However, now that crude oil prices have declined so much, well, now not so much.

Today's NewWork News Web Tip: Mortgages: What You Need to Know in 2009 (Thursday, 1/1/09)
This can be an excellent time to obtain a mortgage, if you're able. Here's what you need to know in 2009.