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 -
"The plan was money. The architect was money. The designer was money and the builder was money. And if you ever wondered what money would look like if it were left to its own devices, it's Dubai
posted by vidur
on Mar 13, 2011 -
A new brand of super shoppers
use coupons and other discounts to get products for absurdly low prices. The Web has turned this group from a series of independent operators into cohesive groups, frustrating retailers.
posted by reenum
on Dec 3, 2010 -
A simple idea: take an ordinary savings account, but instead of paying interest to account holders, hold a lottery to see who gets the lump sum. Freakonomics Radio investigates Prize-linked savings (PLS) accounts (Part 1
, Part 2
), which combine two things that seem completely at odds with each other: saving money and gambling. In Highland Park, MI, PLS accounts have been very successful
at converting "non-savers" into "savers". Why hasn't it caught on in the US? It's illegal in most states, of course.
posted by Jonathan Harford
on Dec 2, 2010 -
"We infer that beyond about $75,000/y, there is no improvement whatever in any of the three measures of emotional well-being."
Two social scientists at Princeton, Angus Deaton
and Nobelist Daniel Kahneman
, have a new paper in PNAS about money and the determinants of happiness. Increased income above $75,000 is not associated with higher subjective happiness, though it is associated with superior scores on measures of overall life satisfaction. Other tidbits: "Religion has a substantial influence on improving positive affect and reducing reports of stress, but no effect on reducing sadness or worry... The presence of children at home is associated with significant increases in stress, sadness, and worry."
posted by escabeche
on Sep 8, 2010 -
Today, Deadspin leaked financial documents
detailing the finances of several MLB teams, including a few that are getting revenue sharing money. They show that several of MLB's "poorest" franchises turned a profit due to these cash infusions. [more inside]
posted by reenum
on Aug 26, 2010 -
On money and happiness
Takeaway: buying stuff doesn't make you happier, although investing in experiences that strengthen social and familial bonds can.
Interestingness: savings increased to 6.5% this year and some experts think this is permanent; conspicuous consumption is shifting to calculated consumption; “There’s massive literature on income and happiness. It’s amazing how little there is on how to spend your money.” [more inside]
posted by erikvan
on Aug 9, 2010 -