With consumers weighed down by massive borrowing ...How should Korea tackle private debt?In a sea of developed countries saddled with heavy government borrowing, Korea is a rare example of a wealthy country with low levels of public debt. For this and other reasons, the nation recently saw its credit rating upgraded by the three major crediting agencies: Moody’s, Fitch and Standard & Poor’s. The state’s relative fiscal soundness, however, masks a more precarious reality in the private sector: Ko

AHMEDABAD, INDIA ― No country dominates any industry as much as the United States dominates higher education. According to Shanghai Jiao-Tong University’s Academic Ranking of World Universities, for example, 17 of the world’s 20 best universities are American, with Harvard topping the list by a substantial margin.The traditional explanation for this phenomenon ― America’s wealth, large population, generous research funding, widespread private philanthropy, and ability to attract scholars from ar

When it comes to apologies, some people are like scent hounds: They can sniff them out anywhere. This is especially true when it comes to the supposed regrets and self-hatred of President Obama. Though he began his term with a series of speeches in Europe, Latin America and the Middle East in which, according to several fact-checking sources, the words “apology” or “I’m sorry” were never once uttered, his opponents nonetheless decided to construe the trips as some sort of mea culpa (make that Am

CAMBRIDGE ― The political fallout from Mitt Romney’s characterization of 47 percent of the American electorate as “victims” who are “dependent on government” and refuse to take “personal responsibility” for their lives demonstrates anew that cultural generalizations, particularly in politics, are usually dangerous. In fact, Romney appears to have categorized a large segment of his party’s own voters as supporters of President Barack Obama.As a rule, one should judge people on their merits, not o

This is unusual. In just 18 days, all major international credit rating agencies have acknowledged that the Korean economy is in stable condition and the government is managing diverse risks well. On Sept. 14, the most conservative Standard & Poor’s followed the path of Moody’s Investors Service and Fitch Ratings by upgrading Korea’s sovereign credit rating from A to A+. At a time when the term “downgrade” is ringing in the ears of many people (Moody’s just threatened a downgrade of the U.S. sov

The recent rise of territorial disputes in East Asia marks a perilous new phase in the international relations of the region. At the same time, it presents an opportunity to build peace among the various East Asian nations, particularly between the two Koreas. In fact, Dokdo and the integrity of Korea’s national historical record are among the few causes that can unite South Korea and North Korea with a common Korean rallying cry. It is ironic and regrettable that the two Koreas have been fighti