Out of thin air? "Have you ever said something like 'Let me buy you a beer next week'? I'm sure you have. We all issue promises of this sort. And we frequently use such promises as a form of currency... I have just described a simple credit exchange. Societies rely heavily on promising-making and promise-keeping. It is the foundation of all financial markets. I'd like to point out something about the promises you make. They are made 'out of thin air.' " [more inside]
posted by kliuless on Apr 14, 2011 - 47 comments

With capitalism in crisis, can it be sustained or is it altogether outdated? As Umair Haque asks though, perhaps a better question is: "are organizations and markets making decisions that help make people, communities, and society better off in the long run, by allocating their scarce resources to the most productive uses?" [more inside]
posted by kliuless on Jul 13, 2010 - 15 comments

Hard up for cash? Roll your own :P [more inside]
posted by kliuless on Feb 8, 2009 - 36 comments

The U.S. Army pays for lapdances. "In addition to the inappropriate purchases, the GAO said more than 1,200 Army employees wrote bad checks to pay their government credit card bills. Last year alone, that cost taxpayers $3.8 million in higher fees and lost rebates." You mean, the government practices bad accounting? Ron Paul points out that the Congress commits the worst accounting fraud of all. But the most important issue of all is, with the government paying for Strip Club tips, gambling, and wine, does this mean that God will no longer bless America?
posted by insomnyuk on Jul 18, 2002 - 18 comments