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 -
Who would have thought it? The UK has withdrawn
the 500 Euro
note after an investigation by SOCA
discovered that 90% of the notes in circulation were linked to crime. Nicknames the ‘Bin Laden
’ (you know its out there somewhere) the purple note worth $630 is a favourite of the criminally minded due to its ultra-portability and acceptance throughout mainland Europe. Drug investigations
in Latin America time and time again turn up large amounts of currency in this form. According
to Columbian financial regulators 234K Euros was legally imported and declared into the country but trails of 600M Euros being exported were discovered. Whilst money laundering and fraud relating to the Euro is nothing
new the decision to put into circulation such a high note must now be being questioned at the highest levels.
posted by numberstation
on May 13, 2010 -
"What would be it like to go a day without spending any money? I've thought about this before but I've never considered actually trying it. I couldn't imagine going a day without spending a single penny -- is that even possible? How would I get from A to B? What about food? Turns out, a day of living expense free is possible and you'd be surprised by the overwhelming sense of satisfaction and feeling of elation that comes from it. "
The Huffington Post's Alexa van Tobel tells the astonishing and empowering tale of How I Went 24 Hours Without Spending Any Money...In New York City
Unfortunately, "this experiment is unsustainable for a long period of time."
posted by Legomancer
on May 8, 2010 -
"Welcome to the simplicity movement, the ethos whose mantras are "cutting back," "focusing on the essentials," "reconnecting to the land" - and talking, talking, talking about how fulfilled it all makes you feel."
Charlotte Allen of In Character about the Simplicity Movement, magazines, wild boars, virtue, and 350$ riding boots.
posted by The Whelk
on Apr 25, 2010 -
"What happened here in Jefferson County would turn out to be the perfect metaphor for the peculiar alchemy of modern oligarchical capitalism: A mob of corrupt local officials and morally absent financiers got together to build a giant device that converted human shit into billions of dollars of profit for Wall Street" - "Looting Main Street
" Matt Taibbi takes an in-depth look into how finance, deregulation, corruption, synthetic rate swaps, and greed decimated Birmingham, AL. [more inside]
posted by The Whelk
on Apr 12, 2010 -
Mohandas K. Gandhi’s critique of the modern identification of society with the state was devastating. He believed that it disabled citizens, subjecting mind and body to the control of professional experts when the purpose of a civilization should be to enhance its members’ sense of their own self-reliance. He proposed instead that every human being is a unique personality and participates with the rest of humanity in an encompassing whole. Between these extremes lie proliferating associations of great variety. [...] But what is most relevant to us is his existentialist project. If the world of society and nature is devoid of meaning, each of us is left feeling small, isolated and vulnerable. How do we bridge the gap between a puny self and a vast, unknowable world? The answer is to scale down the world, to scale up the self or a combination of both, so that a meaningful relationship might be established between the two. Gandhi devoted a large part of his philosophy to building up the personal resources of individuals. Our task is to bring this project up to date. ~ From The Digital Revolution and me
by John Keith Hart
posted by infini
on Jan 9, 2010 -
Frank Capra meets Collateralized Debt Obligations:
The idea is simple: If enough people who have money in one of the big four banks move it into smaller, more local, more traditional community banks, then collectively we, the people, will have taken a big step toward re-rigging the financial system so it becomes again the productive, stable engine for growth it's meant to be. It's neither Left nor Right -- it's populism at its best.
Move your money.
posted by Anything
on Dec 31, 2009 -
, a blog devoted to pointing out those buried atrocities in SEC filings, is having its annual worst footnote of the year contest
. contenders include Chesapeake Energy disclosing it spent $12.1 million to purchase Aubrey McClendon's antique map collection, Martha Stewart's $3 million retention payment to remain at Martha Stewart Omnimedia and InfoGroup disclosing it really spent $852K on former CEO Gupta's yacht instead of zero. Polls close tomorrow.
posted by krautland
on Dec 30, 2009 -
was one of the high society news makers in the 80's, considered by some to be on Donald Trump's level. While things have gone alright for the Donald, Khashoggi hasn't done as well... [more inside]
posted by reenum
on Dec 14, 2009 -