We've all heard that crime doesn't pay. Peace, it turns out, just might.
The newest edition of the U.S. Peace Index, developed by the Institute for Economics and Peace, ranks states by level of peacefulness. The index is based on five primary indicators: (1) number of homicides per 100,000 people, (2) number of violent crimes per 100,000 people, (3) number of people in jail per 100,000 people, (4) number of police officers per 100,000 people and (5) general availability of small arms.
Combining these figures, the U.S. Peace Index calculates a number summarizing the overall peacefulness of each state, with low numbers being safer. Currently, the national average is 2.056.
Since 1995, the U.S. has become 8 percent safe, according to the index. Not all states have improved, though. New York's become 32.3 percent safer since 1991, but other states have actually become more dangerous, like North Dakota (47.7 percent more dangerous) and Tennessee (9.3 percent more dangerous). Generally, Southern states tended to be the least safe, with the region scoring 3.13 on the index, compared with the Northeast, calculated to be the safest region with a score of 1.99.
Reducing crime seems to have more benefits than just an increased sense of well-being, too, with the index's authors hinting that safety might have notable economic benefits. If the United States peace index was as low as Canada's (1.392 compared to 2.056), for example, the U.S. Peace Index's authors argue that state governments could save up to $89 billion in incarceration, medical, judicial and policing costs. Add to that an increase in nationwide productivity equivalent to a $272 billion stimulus, as well as 2.7 million newly-created jobs, and it starts to become pretty clear: peace pays.
Indicators are weighted, allowing homicides to carry the greatest significance, while availability of firearms carries the least. The index also groups into four categories an additional 37 secondary factors like high school graduation rate and median income: politics and demographics, education, health and economic conditions.
Below is the list of the 10 least peaceful states in the United States according to the Institute for Economics and Peace.
Saturday, April 30, 2011
Social Media Marketing: 5 Restaurants That Get It
You're an expert chef with a beautiful restaurant, friendly staff and great food. In the past, you've successfully managed your customer flow through traditional advertising in local newspapers and you sponsor the local little league. Business is great, but a similar restaurant just opened up a few blocks away, and it's generating lots of buzz. The restaurant is using social media to its advantage, growing its customer base at an accelerated pace, and you're starting to lose market share. What's going on?
The Internet is the great equalizer, giving unlimited ad space and airtime to businesses no matter how big or small. Today, 70 percent of local businesses are marketing through Facebook -- more than anywhere else on the Internet.
It's one thing to have a social media presence, but it's another to manage it correctly. These sites are living, breathing entities. If you pay them attention and perform proper maintenance, then they will remain healthy and grow at a steady pace. With this in mind, social media-savvy restaurant owners are acquiring and retaining new customers at a fraction of the cost of traditional advertising.
So what have been some successful social media marketing strategies? Here's a list of restaurants that are leveraging social media sites to make a name for themselves in the digital space. If you're creative -- and attentive -- you too can differentiate your restaurant from the place down the road.
Zengo
Zengo, a Latin-Asian fusion restaurant in Manhattan, realizes that Facebook is a platform for two-way communication between a restaurant and its clientele. Zengo expands and retains its customer base by actively posting events, recipes, interesting stories and Facebook-specific specials for their fans. The Zengo Facebook page always has up-to-date menus, photos, and hours listed. Loyal fans can even make reservations and sign up for Zengo's mailing list directly through the Facebook page.
The odds are that you probably have a Facebook page if you're reading this blog post. The real question is whether you have more than just a phone number and address on it. Facebook is not the YellowPages. There are over 500 million active Facebook users -- 50 percent of whom are logging on everyday, hungry for content to interact with. As a restaurant owner, engaging these users is crucial for your digital business.
Havana Central
To drive customer interaction, Manhattan-based Cuban restaurant Havana Central uses social media for a series of interactive contests. Havana Central's Social Media Manager, Tanya Castaneda explains:
We have found that running contests has substantially increased our following on Facebook, Twitter, and our emailing campaigns. Inside the restaurant, we would promote 'Win a Free One Hour Open Bar for You and 9 of Your Friends.' There were three ways contestants could enter the drawing: by "liking" our Facebook page and writing 'Open Bar' on our wall; by following us on Twitter and tweeting '@havanacentral Open Bar'; or by signing up for our email list
After just 3 contests, Havana Central has increased their email list by almost 1000 subscribers, their Facebook fans by over 200, and their Twitter followers by over 50.
Twitter is the ultimate engine to engage users in conversation. Look at Havana Central's Twitter activity -- they're constantly interacting with customers. Local businesses can leverage this real-time customer feedback to decide which specials to run for the day, or to simply ask people what they thought of yesterday's soup special. People appreciate seeing that restaurants value their opinion
http://twitter.com/havanacentral
Billed as the easiest way to find and share the food you love, Foodspotting is the market leader for mobile food discovery. Over a half-million users have downloaded this iPhone app to take photos of great dishes and share them with the world.
The Internet is the great equalizer, giving unlimited ad space and airtime to businesses no matter how big or small. Today, 70 percent of local businesses are marketing through Facebook -- more than anywhere else on the Internet.
It's one thing to have a social media presence, but it's another to manage it correctly. These sites are living, breathing entities. If you pay them attention and perform proper maintenance, then they will remain healthy and grow at a steady pace. With this in mind, social media-savvy restaurant owners are acquiring and retaining new customers at a fraction of the cost of traditional advertising.
So what have been some successful social media marketing strategies? Here's a list of restaurants that are leveraging social media sites to make a name for themselves in the digital space. If you're creative -- and attentive -- you too can differentiate your restaurant from the place down the road.
Zengo, a Latin-Asian fusion restaurant in Manhattan, realizes that Facebook is a platform for two-way communication between a restaurant and its clientele. Zengo expands and retains its customer base by actively posting events, recipes, interesting stories and Facebook-specific specials for their fans. The Zengo Facebook page always has up-to-date menus, photos, and hours listed. Loyal fans can even make reservations and sign up for Zengo's mailing list directly through the Facebook page.
The odds are that you probably have a Facebook page if you're reading this blog post. The real question is whether you have more than just a phone number and address on it. Facebook is not the YellowPages. There are over 500 million active Facebook users -- 50 percent of whom are logging on everyday, hungry for content to interact with. As a restaurant owner, engaging these users is crucial for your digital business.
To drive customer interaction, Manhattan-based Cuban restaurant Havana Central uses social media for a series of interactive contests. Havana Central's Social Media Manager, Tanya Castaneda explains:
We have found that running contests has substantially increased our following on Facebook, Twitter, and our emailing campaigns. Inside the restaurant, we would promote 'Win a Free One Hour Open Bar for You and 9 of Your Friends.' There were three ways contestants could enter the drawing: by "liking" our Facebook page and writing 'Open Bar' on our wall; by following us on Twitter and tweeting '@havanacentral Open Bar'; or by signing up for our email list
After just 3 contests, Havana Central has increased their email list by almost 1000 subscribers, their Facebook fans by over 200, and their Twitter followers by over 50.
Twitter is the ultimate engine to engage users in conversation. Look at Havana Central's Twitter activity -- they're constantly interacting with customers. Local businesses can leverage this real-time customer feedback to decide which specials to run for the day, or to simply ask people what they thought of yesterday's soup special. People appreciate seeing that restaurants value their opinion
http://twitter.com/havanacentral
Butter Lane Cupcakes
While some businesses have found success using Groupon, Living Social, and the other daily deal sites, these deals are often less beneficial than one might think. In theory, foregoing initial profit for the addition of a long term customer may make sense, but in practice those customers are either undesirable or rarely return.
Some businesses have found creative ways to circumvent this loss by offering different kinds of deals to bring in new type of traffic while adding value to both the consumer and the restaurateur. For example, New York City's Butter Lane Cupcakes offers cupcake baking classes at night. Each two-hour class takes in 12 students at a time, packing the kitchen with an exciting social environment. The class is sold out through August
While some businesses have found success using Groupon, Living Social, and the other daily deal sites, these deals are often less beneficial than one might think. In theory, foregoing initial profit for the addition of a long term customer may make sense, but in practice those customers are either undesirable or rarely return.
Some businesses have found creative ways to circumvent this loss by offering different kinds of deals to bring in new type of traffic while adding value to both the consumer and the restaurateur. For example, New York City's Butter Lane Cupcakes offers cupcake baking classes at night. Each two-hour class takes in 12 students at a time, packing the kitchen with an exciting social environment. The class is sold out through August
The Burger Shoppe
The Burger Shoppe, an "old New York" style ode to all things Burger (and more), offers its loyal followers (500+ today) a free side of fries or onion rings when they show the cashier or bartender that they've checked in via Foursquare. Each additional check-in increases The Burger Shoppe's word-of-mouth buzz, drawing new customers, and retaining current ones.
Location-based mobile apps help drive traffic through the door as well as create loyalty. On Foursquare, 7.5 million active users are checking-in to get access to special offers and direct their friends to their favorite establishments. Foursquare is adding 10,000 new users a day to its platform. There's a good chance that some of your customers are already using these products to tell their friends where they are; now it's your turn to incentivize and thank them for being your personal brand evangelists.
Nombe
Nombe, a San Francisco-based Japanese restaurant, has created customized recommendation guides and scavenger hunts on Foodspotting to help potential customers make better-informed purchasing decisions. Ranging from top sake flights to the best brunch spots, Nombe has done a great job branding themselves as experts within the Northern California restaurant space.
The Burger Shoppe, an "old New York" style ode to all things Burger (and more), offers its loyal followers (500+ today) a free side of fries or onion rings when they show the cashier or bartender that they've checked in via Foursquare. Each additional check-in increases The Burger Shoppe's word-of-mouth buzz, drawing new customers, and retaining current ones.
Location-based mobile apps help drive traffic through the door as well as create loyalty. On Foursquare, 7.5 million active users are checking-in to get access to special offers and direct their friends to their favorite establishments. Foursquare is adding 10,000 new users a day to its platform. There's a good chance that some of your customers are already using these products to tell their friends where they are; now it's your turn to incentivize and thank them for being your personal brand evangelists.
Nombe
Nombe, a San Francisco-based Japanese restaurant, has created customized recommendation guides and scavenger hunts on Foodspotting to help potential customers make better-informed purchasing decisions. Ranging from top sake flights to the best brunch spots, Nombe has done a great job branding themselves as experts within the Northern California restaurant space.
Billed as the easiest way to find and share the food you love, Foodspotting is the market leader for mobile food discovery. Over a half-million users have downloaded this iPhone app to take photos of great dishes and share them with the world.
9 Companies With Products Whose Demand Beats Their Supply: 24/7 Wall Street
By 24/7 Wall Street: It is not unusual for companies with highly successful products to run out of inventory. Oftentimes, companies scramble at the last minute to meet an unexpected upsurge in demand. Some analysts also suspect that companies "create" shortages to boost interest in their products among consumers and the media. Rumors emerged that Apple did this with both the iPad and iPhone, though this has never been proven. Apple's success has been so spectacular that it doesn't matter whether the shortages are planned or not.
The problem with product shortages will get worse for some companies because of the Japan earthquake. Several car companies have already slowed production because of the dwindling availability of parts. Honda and Toyota each expect some of their plants to be shut down for weeks. Several firms that make components for consumer electronics like the iPad will need to close their doors for a while as well. It will not be a public relations stunt if iPad 2 shortages begin anew in the next month.
The duration of manufacturing interruptions in Japan may not be announced until the end of the spring. Companies, however, face these types of challenges all the time. Mattel was unable to sell entire lines of toys when it was discovered that manufacturers in China had covered them with lead paint. Regional oil shortages happen when hurricanes shutter refineries.
Customers rarely care about why they cannot buy the products and services they want. They are not usually in a forgiving mood, and that should worry companies facing potential shortages. A consumer may buy a competitor's product or may decided to skip the purchase entirely.
24/7 Wall St. examined how companies such as BMW and Lululemon Athletica stumbled when faced with product shortages. The companies did a poor job estimating product demand, probably costing them revenue. Sales were further hurt by the news of the shortages.
9. Rip Van Winkle Bourbon
The small-scale Kentucky bourbon does not mind testing its customers' loyalty. Van Winkle sells only 7,000 cases each year, enough to let consumers whet their whistles and little else. Bottles of "Pappy Van Winkle" bourbon are notoriously hard to find, and because it sells out so quickly, many liquor store owners keep bottles behind the counter rather that waste shelf space. An added bonus of low production, the owner adds, is never having to worry about being stuck with large inventories in the case of financial downturn.
8. Johnson & Johnson
In the midst of recall after recall, it makes sense that a slew of Johnson & Johnson products would be disappearing from store shelves. In the case of J&J's "Pepsid Complete" tablets, no one seems to have any idea why stores have been out of the medication for months, and heartburn sufferers have resorted to buying the product on eBay and Amazon. Several thousand bottles of Pepcid were recalled last fall, but that does not explain the products widespread disappearance. Thus far, Johnson & Johnson's response for why the shortage has occurred has been vague.
7. Toyota Prius
As the recession fades into the past and gas prices rise to new highs, electric and hybrid vehicles are once again in hot demand. Orders for Toyota's Prius are backed up for months. The Prius is the best-selling car of its kind in history, with more than 3 million vehicles sold to date. The demand for the car has not been diminished by new electric cars from GM and a number of hybrids from nearly every major car manufacturer.
6. Lululemon Athletica
Lululemon Athletica's, the Canadian yoga wear company, has exploded in popularity in the past two years, with shares up more than 1,000 percent in the same period. The company has expanded throughout North America and Australia, and while it has added to operations to meet the widespread popularity of its clothes, it has not been able to meet demand. The major reason for this is a lack of inventory. The company has also had to increase spending on air freight to get products on the shelves after they are manufactured. Since the company announced its dwindling inventory, some investors have become worried.
5. Target
This past holiday season, demand for the popular Squinkies toys outpaced the manufacturer's ability to produce them. Despite quick action on Target's part to order more of the toys, the limited abilities of the 16-person factory that makes Squinkies caused a 60-day lag between Target's orders and the shipment of new products.
4. Amazon
After Amazon cut the price of its Kindle 2 in June 2010 from $359 to $299, sales increased significantly. This rush of customers quickly caused the company to run out of the e-reader in July. It isn't the first time that Amazon has run short on products. The original Kindle sold out within hours of its 2007 release, and faced supply shortages throughout 2008.
3. Microsoft
Video game sales were down throughout most of 2010, although they were up during the holiday season. One of the most popular products, Microsoft's Xbox 360 and its Kinect add-on unit, sold out. This caused Microsoft to ship units early to stores which were meant for January and February of 2011. These unexpected early shipments caused the company to temporarily run out of products for two months.
2. Apple
Since its release on March 11, 2011, Apple's iPad 2 has been in short supply. Many stores sold out of the tablet computers in hours, and the company's online store currently lists shipping delays of four to five weeks. Supply may be further interrupted by the recent earthquake in Japan which would delay the production of parts needed for the device. Apple has often fallen short of demand in the past with products such as the iPhone 4.
1. BMW
In June 2010, BMW sold out of its popular 2011 5-series sedan. Although the company's sales chief, Ian Robertson, was quoted by Bloomberg as saying that "the 5-Series is at the core of the BMW brand and we knew it was going to be a very strong vehicle for us," the company was not ready to meet demand for the vehicle. Sales of luxury vehicles fell dramatically in the financial crisis of 2008/2009, then bounced back in the middle of 2010, with BMW sales increasing 11% in May alone. This improvement caught the company off guard, and effectively used up the entire supply of 5-series in June.
The problem with product shortages will get worse for some companies because of the Japan earthquake. Several car companies have already slowed production because of the dwindling availability of parts. Honda and Toyota each expect some of their plants to be shut down for weeks. Several firms that make components for consumer electronics like the iPad will need to close their doors for a while as well. It will not be a public relations stunt if iPad 2 shortages begin anew in the next month.
The duration of manufacturing interruptions in Japan may not be announced until the end of the spring. Companies, however, face these types of challenges all the time. Mattel was unable to sell entire lines of toys when it was discovered that manufacturers in China had covered them with lead paint. Regional oil shortages happen when hurricanes shutter refineries.
Customers rarely care about why they cannot buy the products and services they want. They are not usually in a forgiving mood, and that should worry companies facing potential shortages. A consumer may buy a competitor's product or may decided to skip the purchase entirely.
24/7 Wall St. examined how companies such as BMW and Lululemon Athletica stumbled when faced with product shortages. The companies did a poor job estimating product demand, probably costing them revenue. Sales were further hurt by the news of the shortages.
The small-scale Kentucky bourbon does not mind testing its customers' loyalty. Van Winkle sells only 7,000 cases each year, enough to let consumers whet their whistles and little else. Bottles of "Pappy Van Winkle" bourbon are notoriously hard to find, and because it sells out so quickly, many liquor store owners keep bottles behind the counter rather that waste shelf space. An added bonus of low production, the owner adds, is never having to worry about being stuck with large inventories in the case of financial downturn.
8. Johnson & Johnson
In the midst of recall after recall, it makes sense that a slew of Johnson & Johnson products would be disappearing from store shelves. In the case of J&J's "Pepsid Complete" tablets, no one seems to have any idea why stores have been out of the medication for months, and heartburn sufferers have resorted to buying the product on eBay and Amazon. Several thousand bottles of Pepcid were recalled last fall, but that does not explain the products widespread disappearance. Thus far, Johnson & Johnson's response for why the shortage has occurred has been vague.
7. Toyota Prius
As the recession fades into the past and gas prices rise to new highs, electric and hybrid vehicles are once again in hot demand. Orders for Toyota's Prius are backed up for months. The Prius is the best-selling car of its kind in history, with more than 3 million vehicles sold to date. The demand for the car has not been diminished by new electric cars from GM and a number of hybrids from nearly every major car manufacturer.
6. Lululemon Athletica
Lululemon Athletica's, the Canadian yoga wear company, has exploded in popularity in the past two years, with shares up more than 1,000 percent in the same period. The company has expanded throughout North America and Australia, and while it has added to operations to meet the widespread popularity of its clothes, it has not been able to meet demand. The major reason for this is a lack of inventory. The company has also had to increase spending on air freight to get products on the shelves after they are manufactured. Since the company announced its dwindling inventory, some investors have become worried.
5. Target
This past holiday season, demand for the popular Squinkies toys outpaced the manufacturer's ability to produce them. Despite quick action on Target's part to order more of the toys, the limited abilities of the 16-person factory that makes Squinkies caused a 60-day lag between Target's orders and the shipment of new products.
4. Amazon
After Amazon cut the price of its Kindle 2 in June 2010 from $359 to $299, sales increased significantly. This rush of customers quickly caused the company to run out of the e-reader in July. It isn't the first time that Amazon has run short on products. The original Kindle sold out within hours of its 2007 release, and faced supply shortages throughout 2008.
3. Microsoft
Video game sales were down throughout most of 2010, although they were up during the holiday season. One of the most popular products, Microsoft's Xbox 360 and its Kinect add-on unit, sold out. This caused Microsoft to ship units early to stores which were meant for January and February of 2011. These unexpected early shipments caused the company to temporarily run out of products for two months.
2. Apple
Since its release on March 11, 2011, Apple's iPad 2 has been in short supply. Many stores sold out of the tablet computers in hours, and the company's online store currently lists shipping delays of four to five weeks. Supply may be further interrupted by the recent earthquake in Japan which would delay the production of parts needed for the device. Apple has often fallen short of demand in the past with products such as the iPhone 4.
1. BMW
In June 2010, BMW sold out of its popular 2011 5-series sedan. Although the company's sales chief, Ian Robertson, was quoted by Bloomberg as saying that "the 5-Series is at the core of the BMW brand and we knew it was going to be a very strong vehicle for us," the company was not ready to meet demand for the vehicle. Sales of luxury vehicles fell dramatically in the financial crisis of 2008/2009, then bounced back in the middle of 2010, with BMW sales increasing 11% in May alone. This improvement caught the company off guard, and effectively used up the entire supply of 5-series in June.
Superman Renounces U.S. Citizenship?
A controversial move was made in the world of comics this week with Superman, of all people, threatening to give up his American citizenship.
10 Dying U.S. Industries: IBISWorld
The recession has caused the failure of some formidable companies, Lehman Brothers and Circuit City among them. Not only individual businesses have suffered, however. The economic woes of the last decade have preyed upon entire industries.
In a new report entitled "Dying Industries," by Toon Von Beeck, research firm IBISWorld identifies 10 U.S. industries that have experienced severe, possibly irreversible drop-offs over the past decade, today remaining stuck in the decline phase of their business cycle.
All mentioned industries -- having already experienced significant decreases in revenue over the last decade -- can be expected to experience further declines through 2016. The reasons for the suffering vary by industry, but IBISWorld attributes a significant amount of industry strife to three primary factors: new technology, foreign competition and industry stagnation.
With the country still reeling from a housing crisis, manufactured home dealers may be in the most trouble, the report finds. Over 50 percent of manufactured home dealers closed their doors over the past decade, and revenue numbers for those still open are terrible: down 73.7 percent with a further 62 percent decline expected by 2016.
And while the decline of some high-profile industries, like the newspaper and record businesses, have been well-documented for years, who knew that rental formal wear could soon be passé? The apparel industry has suffered tremendously from foreign competition, with revenues down 77.1 percent since 2000. Photofinishers have largely been supplanted by digital camera as well. But maybe some can take solace in the fact that there likely won't be a sequel forthcoming to 2002's
10. Video Postproduction Services
Percentage decrease: 24.9 percent
With digital technology now the industry standard, video postproduction services have struggled over the last few years. The new technology has made jobs like editing, cutting and animating much less labor intensive. 43.2 percent of postproduction companies have closed since 2000.
9. Formal Wear and Costume Rental
Percentage decrease: 35 percent
Over the last decade, the formal wear and costume rental business has seen significant decline. Most prom dates and groomsmen now prefer to buy instead of rent their tuxedos since cheaper imported garments are available. But those within the industry say the explanation could be simpler: people just don't get spruced up as often as they used to.
6. Mills
Percentage decrease: 50.2 percent
American manufacturing has suffered over the last decade, mostly due to competition from abroad. Cheaper production costs in foreign countries have led companies to abandon mills across America. 23.6 percent of them have been shutdown since 2000.
5. Wired Telecommunications Carriers
Percentage decrease: 54.9 percent
The proliferation of cell phones and AT&T's recent high-profile acquisition of T-Mobile might indicate the wired telecommunications industry is thriving but in fact it's declined in revenue yearly since 2000. The increasing popularity of wireless products and VoIP services like Skype may mean they are the future of the telecommunications business.
Digital photography has all but decimated the friendly neighborhood photo developer in recent years. Digital cameras continue to drop in price with more and more consumers opting to upload their photos on Facebook or Flickr rather than print them for album collections. Over the last ten years almost 60 percent of Photofinishers have closed spelling tough times for previous industry leaders Kodak and Fuji Film.
3. Manufactured Home Dealers
Percentage decrease: 73.7 percent
Manufactured home dealers aren't the only ones in the Real Estate game that are struggling due to the housing crisis but they may have been hit the hardest. In a current market where new home sales are low and foreclosures widespread, manufactured home dealers' revenue has decreased by nearly three quarters since 2000.
Almost 80 percent of record stores across the country have shut up shop over the last decade. Internet file sharing and online music stores like iTunes have fundamentally changed the way people consume music. Many, including an angry Jon Bon Jovi, have been left to lament the loss of their local record shop
1. Apparel Manufacturing
Percentage decrease: 77.1 percent
While U.S companies still have the edge when it comes to branding, design and technology, competition from abroad is draining the life force out of the apparel manufacturing industry. Things are likely to get worse as overseas competitors catch up on other aspects of the business and a further 60.5 percent decrease is expected by 2016.
In a new report entitled "Dying Industries," by Toon Von Beeck, research firm IBISWorld identifies 10 U.S. industries that have experienced severe, possibly irreversible drop-offs over the past decade, today remaining stuck in the decline phase of their business cycle.
All mentioned industries -- having already experienced significant decreases in revenue over the last decade -- can be expected to experience further declines through 2016. The reasons for the suffering vary by industry, but IBISWorld attributes a significant amount of industry strife to three primary factors: new technology, foreign competition and industry stagnation.
With the country still reeling from a housing crisis, manufactured home dealers may be in the most trouble, the report finds. Over 50 percent of manufactured home dealers closed their doors over the past decade, and revenue numbers for those still open are terrible: down 73.7 percent with a further 62 percent decline expected by 2016.
And while the decline of some high-profile industries, like the newspaper and record businesses, have been well-documented for years, who knew that rental formal wear could soon be passé? The apparel industry has suffered tremendously from foreign competition, with revenues down 77.1 percent since 2000. Photofinishers have largely been supplanted by digital camera as well. But maybe some can take solace in the fact that there likely won't be a sequel forthcoming to 2002's
Percentage decrease: 24.9 percent
With digital technology now the industry standard, video postproduction services have struggled over the last few years. The new technology has made jobs like editing, cutting and animating much less labor intensive. 43.2 percent of postproduction companies have closed since 2000.
9. Formal Wear and Costume Rental
Percentage decrease: 35 percent
Over the last decade, the formal wear and costume rental business has seen significant decline. Most prom dates and groomsmen now prefer to buy instead of rent their tuxedos since cheaper imported garments are available. But those within the industry say the explanation could be simpler: people just don't get spruced up as often as they used to.
http://www.ewednews.com/post.cfm/the-tuxedo-rental-business-continues-to-die-a-slow-death
8. DVD, Game & Video Rental
Percentage decrease: 35.7 percent
Competitors like Netflix and new technology such as online streaming, digital cable and satellite TV have hit the movie rental business hard. Its major player Blockbuster Video, which was recently bought at auction after filing for Chapter 11, continues to shutter stores by the hundreds. Revenue is expected to decline an additional 19.3 percent over the next six years.
The plight of the Newspaper business is still largely without a solution. A shift to online news has benefited some but devastated others as media outlets struggle to find a balance. The New York Times' recent adoption of a pay wall is the latest attempt to sustain a failing business model. Across the country 28.6 percent of newspapers have closed since 2000.8. DVD, Game & Video Rental
Percentage decrease: 35.7 percent
Competitors like Netflix and new technology such as online streaming, digital cable and satellite TV have hit the movie rental business hard. Its major player Blockbuster Video, which was recently bought at auction after filing for Chapter 11, continues to shutter stores by the hundreds. Revenue is expected to decline an additional 19.3 percent over the next six years.
7. Newspaper Publishing
Percentage decrease: 50.2 percent
American manufacturing has suffered over the last decade, mostly due to competition from abroad. Cheaper production costs in foreign countries have led companies to abandon mills across America. 23.6 percent of them have been shutdown since 2000.
5. Wired Telecommunications Carriers
Percentage decrease: 54.9 percent
The proliferation of cell phones and AT&T's recent high-profile acquisition of T-Mobile might indicate the wired telecommunications industry is thriving but in fact it's declined in revenue yearly since 2000. The increasing popularity of wireless products and VoIP services like Skype may mean they are the future of the telecommunications business.
4. Photofinishing
Percentage decrease: 69.1 percentDigital photography has all but decimated the friendly neighborhood photo developer in recent years. Digital cameras continue to drop in price with more and more consumers opting to upload their photos on Facebook or Flickr rather than print them for album collections. Over the last ten years almost 60 percent of Photofinishers have closed spelling tough times for previous industry leaders Kodak and Fuji Film.
3. Manufactured Home Dealers
Percentage decrease: 73.7 percent
Manufactured home dealers aren't the only ones in the Real Estate game that are struggling due to the housing crisis but they may have been hit the hardest. In a current market where new home sales are low and foreclosures widespread, manufactured home dealers' revenue has decreased by nearly three quarters since 2000.
2. Record Stores
Percentage decrease: 76.3 percentAlmost 80 percent of record stores across the country have shut up shop over the last decade. Internet file sharing and online music stores like iTunes have fundamentally changed the way people consume music. Many, including an angry Jon Bon Jovi, have been left to lament the loss of their local record shop
Percentage decrease: 77.1 percent
While U.S companies still have the edge when it comes to branding, design and technology, competition from abroad is draining the life force out of the apparel manufacturing industry. Things are likely to get worse as overseas competitors catch up on other aspects of the business and a further 60.5 percent decrease is expected by 2016.
The Destruction of Economic Facts: Hernando De Soto
The results are hardly surprising. In the U.S., trust has broken down between banks and subprime mortgage holders; between foreclosing agents and courts; between banks and their investors--even between banks and other banks. Overall, credit (from the Latin for "trust") continues to flow steadily, but closer examination shows that nongovernment credit has contracted. Private lending has dropped 21 percent since 2007. Outstanding loans to small businesses dropped more than 6 percent over the past year, while lending to large businesses, measured in commercial loans of more than $1 million, fell nearly 9 percent.
The importance of economic facts may not be obvious to Americans. "What does the fish know about the water in which it swims?" asked Albert Einstein. But it's easy to grasp from the perspective of the developing and former communist countries where I live and work. In these countries, most of our assets and relationships are in the informal sector, outside the legal economy. Because they're not recorded in public memory systems, they cannot be written up as facts and are, in effect, invisible. All we have are shadow markets.
Wal-Mart Wants You to Pay Online Sales Tax
Giant retailers like Wal-Mart and Target are using mom and pop stores as human shields in their battle against Amazon.com over taxing online sales.
10 Companies That Will Save The American Economy: 24/7 Wall Street
By 24/7 Wall Street: America lost its lead as the world's top manufacturer to China. That is in part the basis of the argument that China's Gross Domestic Product will pass America's sometime before the middle of the century. China's rising population will continue to push its GDP growth higher. The same thing happened to the US from 1950 until 2000.
Some experts on the global economy argue that the demise of US industry will accelerate as unemployment remains high and the government wrestles with its budgetary problems. It would be a mistake, however, to assume that the US cannot keep its position as the world's leading economy because some of its largest companies and their industries completely control many of the business sectors most critical to the future of global economic growth.
24/7 Wall St. looked at industries in which US corporations are leaders and chose those that are most likely to develop products and services which will allow global GDP growth to continue. American companies not only control these industries now, but they also will control them for some time because of their large leads in research and development.
The critical global needs of the 21st Century that 24/7 Wall St. reviewed were: the ability to organize and control information, the ability to cure disease, the ability to control the efficient use and distribution of natural resources, the ability to educate broad groups of people and the ability to transport people and cargo.
The American companies that are the leaders in providing solutions for each of these needs are often without parallel outside the US. If they do have competition, it is rare and usually a fraction of their size. Many of the largest and most well-known corporations are not on this list. Apple is not because there is nothing that it makes that cannot be replicated in a number of other countries and by other firms. GM is not one the list because auto manufacturing is a nearly a commodity business. Exxon Mobil is not on the list because a number of other companies, such as PetroChina and BP, have assets nearly as large and similar expertise. AT&T is not on the list because there are a number of telecommunications companies just as large in Europe and Asia. They have the advantage of location, but no company has a technology that is more advanced than any other. Wal-Mart is not on the list because there are scores of other smaller retailers which do most of what Wal-Mart does.
24/7 Wall St. eventually identified 10 companies. The business world and economy could not operate as they do without them and this will probably be more the case in the future. America's advantages due to these firms could falter if their ability to innovate stalls. Many experts have argued that America must have a better education system to maintain and expand its business advantages. People who worry about intellectual property theft and the eventual decline of America's economic might may also be right. But, for now, as these companies exist today along with the global customers they serve, each has a substantial lead in a large and critical industry.
Below is a list of ten companies essential to the success of the American economy. Check out 24/7 Wall Street for more information.
10. Monsanto
2008 Revenue: $11.365 Billion
Number of Employees: 21,700
Market Cap: $37.85 Billion
Most of the agricultural technology industry is based on the production of pesticides and herbicides. Monsanto,however, is at the cutting edge of dozens of crucial agriculture sectors, including genetically modified seeds and animal growth hormones. Despite a large amount of negative press and objections from environmental groups, the fact remains that as the global population continues to grow exponentially, food scarcity will increasingly become an issue. Monsanto's technology, which seeks to maximize crop yields, is a crucial commodity, and that will only increase over time
9. Cisco
2010 Revenue: $40.04 Billion
Number of Employees: 70,714
Market Cap: $95.97 Billion
Cisco is the worlds leading company in terms of market share for routers, the devices that makeup the backbone of the Internet. Cisco's hardware, which include these routers, switches, and wireless and security systems,are used by Internet services providers around the world. This includes a large potion of the international telephone, cable, voice, and data infrastructure. Cisco is also one of the primary investors and providers of virtualization software to make large data centers and server farms more productive. All of the core virtualization software originates from a few technology operations in the US. Cisco is also the leader in video communications with products which run from high-end teleconferencing to home video solutions.
8. General Electric
2010 Revenue: $104.635 Billion
Number of Employees: 287,000
Market Cap: $210.03 Billion
GE is the largest provider of sophisticated energy infrastructure in the world. This includes wind turbines, hydro-electric power, nuclear energy, and solar power-all of the strategic sources to reduce dependence on fossil fuel. It also has one of the largest water management businesses in the world. GE is also one of the world's primary providers of highly advanced medical devices, MRI systems, nuclear cardiology, and oncology diagnosis. GE's third strategic business is jet engines, which it designs and manufactures for both the aerospace and military sectors. GE specializes in the development of low-emission engines. GE is routinely on the list of companies which are granted the most patents by the US each year.
7. Intel
2010 Revenue: $43.623 Billion
Number of Employees: 82,500
Market Cap: $111.85 Billion
Intel,the world's largest chipmaker, builds semiconductors which power the majority of the world's PCs and servers. The company has also taken a position in the production of hardware for complex portal devices. The global technology company was awarded the eighth most patents in the world last year and the third-most by an American company. Among Intel's latest breakthroughs is its new "Fusion" chip, in which graphics cards and processors are part of the same component, and a working microchip 32 nanometers in size. These tiny chips and the more complex versions Intel has developed have allowed breakthroughs in system processing speeds and dramatically increased the efficiency of businesses. Intel's importance to American business is not limited to chip technology - the company also owns McAfee, the world's largest Internet security company - a business that will become increasingly important to global corporations and governments as cybercrime becomes increasingly sophisticated
6. Lockheed Martin
2010 Revenue: $45.803 Billion
Number of Employees: 133,000
Market Cap: $28.27 Billion
The ability to efficiently make war has gone from a model based on men and machines to one which is in part based on software, communications systems, and sophisticated hardware. The US remains the world's arms merchant because of weapons complexity and flexibility. Lockheed Martin is the largest military contractor in the world, and forms part of the backbone of the America's military technological advantage. It produces state-of-the-art weapons systems, including unmanned drones, the keystones of the future of modern warfare. Lockheed Martin is also one of the key contributors to American space technology, which accounts for about 20% of its revenue. Lockheed was awarded $38 billion in contracts from the U.S. government last year
5. Boeing
2010 Revenue: $64.306 Billion
Number of Employees: 160,500
Market Cap:$53.57 Billion
The number of seats sold to passengers on commercial airlines this year will be more than 2.5 billion. The airline industry has become the most critical part of a transportation sector that allows people and cargo to travel great distances in short amounts of time. Boeing is the world's largest plane maker. It is also the US's largest exporter. Boeing's products cannot be designed or manufactured anywhere in the developing world. The company has only one competitor in the commercial aviation market-Airbus. Boeing also is a leading military and space contractor.
4. IBM
2010 Revenue: $99.870 Billion
Number of Employees: 426,751
Market Cap: $195.17 Billion
IBM amassed 5,896 patents in 2010, making it the first company to get more than 5,000 patents in a single year, according to patent research organization IFI Claims Patent Services. The 400,000 employee company is as close as the world has to a universal supplier of IT software, sales, service, and consultancy for every one of the world's large business sectors. IBM has critical operations in a number of strategic parts of the technology industry such as carrier grade Internet security, cloud computing, database management, and enterprise mainframe computers. IBM is also the leader in emerging global technologies which include service-oriented architecture and information on demand.
3. Pfizer
2010 Revenue: $67.809 Billion
Number of Employees: 110,600
Market Cap: $162.3 Billion
One of the core goals of the vast pharmaceutical sector of the global economy is to cure disease and prolong life. Most people who do not die of malnutrition, starvation, or war are killed by communicable diseases such as AIDS, heart and vascular disease, cancer and the effect of obesity. This puts advanced drug development at the center of one of the largest business sectors in the world-one which touches tens of billions of people every day. Pfizer, headquartered in New York City, is the largest pharmaceutical company in sales. In 2010, the company had revenue of just under $68 billion. About $39 billion of this came from sales outside of the United States. Pfizer also has the largest R&D department in the pharmaceutical industry with scores of major treatments in its product pipeline
2. Google
2010 Revenue: $29.321 Billion
Number of Employees: 24,400
Market Cap: $188.7 Billion
Google's mission, according to the company, "is to organize the world's information and make it universally accessible and useful." In the 13 years since the company's founding, Google has come close to accomplishing this goal on a global scale. Started by two graduate students at Stanford University, Google is a prime example of American ingenuity and innovation. The company indexes the Internet for a huge portion of its users, effectively controlling how people seek and receive information. The word "Google" has even become synonymous with the act of searching for information on the Internet. The search company is by far the largest in the world and has migrated rapidly from PCs to mobile devices. Google has other businesses which are not large financially but have a profound affect on how technology inter-operates between machines and people. The most dominant of these is the Android mobile operating systems which powers millions of smartphones and other portable devices around the world.
1. Microsoft
2010 Revenue: $62.484 Billion
Number of Employees: 89,000
Market Cap:$216.87 Billion
Microsoft plays a significant role in the way that enterprises and governments around the world are organized and operate. The personal computer revolutionized the way business is done. Some pundits argue that Microsoft has become irrelevant, which is ludicrous. The company's software is at the heart of most of the world's computers. It would be hard to call products which are still so universally used obsolete. According to research firm Gartner, in 2008 there were more than one billion PCs in use, and by 2014 there will be two billion in use. Most PCs currently use a Microsoft operating system. As of February 2011, Microsoft's Windows operating system had just under 90% market share, according to analytics firm Net Applications. Microsoft Office's suite of spreadsheet and word processing programs similarly dominate the business software market. The company's influence can also be seen in terms of its size. It currently has the third largest market cap in the US, $216.87 billion. The Windows OS is and will be for some time irreplaceable.
U.S Multinationals Increasingly Hiring Abroad, Firing At Home
Large U.S. companies increasingly hire abroad and fire in America, according to new government data.
In the last decade, American multinational corporations, which together employ one-fifth of all U.S. workers, decreased domestic employment by 2.9 million workers while adding 2.4 million jobs overseas, the Commerce Department reported on Monday....
GM Looks To Double Sales In China By 2015
SHANGHAI -- General Motors Co. said Monday it plans to double the number of cars it sells in China to 5 million by 2015.
Unemployment Rate Two Times Higher In Suburbs Than Cities
OECD Brightens Its Prediction For G-7 Economies -- Minus Japan
Some experts on the global economy argue that the demise of US industry will accelerate as unemployment remains high and the government wrestles with its budgetary problems. It would be a mistake, however, to assume that the US cannot keep its position as the world's leading economy because some of its largest companies and their industries completely control many of the business sectors most critical to the future of global economic growth.
24/7 Wall St. looked at industries in which US corporations are leaders and chose those that are most likely to develop products and services which will allow global GDP growth to continue. American companies not only control these industries now, but they also will control them for some time because of their large leads in research and development.
The critical global needs of the 21st Century that 24/7 Wall St. reviewed were: the ability to organize and control information, the ability to cure disease, the ability to control the efficient use and distribution of natural resources, the ability to educate broad groups of people and the ability to transport people and cargo.
The American companies that are the leaders in providing solutions for each of these needs are often without parallel outside the US. If they do have competition, it is rare and usually a fraction of their size. Many of the largest and most well-known corporations are not on this list. Apple is not because there is nothing that it makes that cannot be replicated in a number of other countries and by other firms. GM is not one the list because auto manufacturing is a nearly a commodity business. Exxon Mobil is not on the list because a number of other companies, such as PetroChina and BP, have assets nearly as large and similar expertise. AT&T is not on the list because there are a number of telecommunications companies just as large in Europe and Asia. They have the advantage of location, but no company has a technology that is more advanced than any other. Wal-Mart is not on the list because there are scores of other smaller retailers which do most of what Wal-Mart does.
24/7 Wall St. eventually identified 10 companies. The business world and economy could not operate as they do without them and this will probably be more the case in the future. America's advantages due to these firms could falter if their ability to innovate stalls. Many experts have argued that America must have a better education system to maintain and expand its business advantages. People who worry about intellectual property theft and the eventual decline of America's economic might may also be right. But, for now, as these companies exist today along with the global customers they serve, each has a substantial lead in a large and critical industry.
Below is a list of ten companies essential to the success of the American economy. Check out 24/7 Wall Street for more information.
2008 Revenue: $11.365 Billion
Number of Employees: 21,700
Market Cap: $37.85 Billion
Most of the agricultural technology industry is based on the production of pesticides and herbicides. Monsanto,however, is at the cutting edge of dozens of crucial agriculture sectors, including genetically modified seeds and animal growth hormones. Despite a large amount of negative press and objections from environmental groups, the fact remains that as the global population continues to grow exponentially, food scarcity will increasingly become an issue. Monsanto's technology, which seeks to maximize crop yields, is a crucial commodity, and that will only increase over time
9. Cisco
2010 Revenue: $40.04 Billion
Number of Employees: 70,714
Market Cap: $95.97 Billion
Cisco is the worlds leading company in terms of market share for routers, the devices that makeup the backbone of the Internet. Cisco's hardware, which include these routers, switches, and wireless and security systems,are used by Internet services providers around the world. This includes a large potion of the international telephone, cable, voice, and data infrastructure. Cisco is also one of the primary investors and providers of virtualization software to make large data centers and server farms more productive. All of the core virtualization software originates from a few technology operations in the US. Cisco is also the leader in video communications with products which run from high-end teleconferencing to home video solutions.
8. General Electric
2010 Revenue: $104.635 Billion
Number of Employees: 287,000
Market Cap: $210.03 Billion
GE is the largest provider of sophisticated energy infrastructure in the world. This includes wind turbines, hydro-electric power, nuclear energy, and solar power-all of the strategic sources to reduce dependence on fossil fuel. It also has one of the largest water management businesses in the world. GE is also one of the world's primary providers of highly advanced medical devices, MRI systems, nuclear cardiology, and oncology diagnosis. GE's third strategic business is jet engines, which it designs and manufactures for both the aerospace and military sectors. GE specializes in the development of low-emission engines. GE is routinely on the list of companies which are granted the most patents by the US each year.
7. Intel
2010 Revenue: $43.623 Billion
Number of Employees: 82,500
Market Cap: $111.85 Billion
Intel,the world's largest chipmaker, builds semiconductors which power the majority of the world's PCs and servers. The company has also taken a position in the production of hardware for complex portal devices. The global technology company was awarded the eighth most patents in the world last year and the third-most by an American company. Among Intel's latest breakthroughs is its new "Fusion" chip, in which graphics cards and processors are part of the same component, and a working microchip 32 nanometers in size. These tiny chips and the more complex versions Intel has developed have allowed breakthroughs in system processing speeds and dramatically increased the efficiency of businesses. Intel's importance to American business is not limited to chip technology - the company also owns McAfee, the world's largest Internet security company - a business that will become increasingly important to global corporations and governments as cybercrime becomes increasingly sophisticated
6. Lockheed Martin
2010 Revenue: $45.803 Billion
Number of Employees: 133,000
Market Cap: $28.27 Billion
The ability to efficiently make war has gone from a model based on men and machines to one which is in part based on software, communications systems, and sophisticated hardware. The US remains the world's arms merchant because of weapons complexity and flexibility. Lockheed Martin is the largest military contractor in the world, and forms part of the backbone of the America's military technological advantage. It produces state-of-the-art weapons systems, including unmanned drones, the keystones of the future of modern warfare. Lockheed Martin is also one of the key contributors to American space technology, which accounts for about 20% of its revenue. Lockheed was awarded $38 billion in contracts from the U.S. government last year
5. Boeing
2010 Revenue: $64.306 Billion
Number of Employees: 160,500
Market Cap:$53.57 Billion
The number of seats sold to passengers on commercial airlines this year will be more than 2.5 billion. The airline industry has become the most critical part of a transportation sector that allows people and cargo to travel great distances in short amounts of time. Boeing is the world's largest plane maker. It is also the US's largest exporter. Boeing's products cannot be designed or manufactured anywhere in the developing world. The company has only one competitor in the commercial aviation market-Airbus. Boeing also is a leading military and space contractor.
4. IBM
2010 Revenue: $99.870 Billion
Number of Employees: 426,751
Market Cap: $195.17 Billion
IBM amassed 5,896 patents in 2010, making it the first company to get more than 5,000 patents in a single year, according to patent research organization IFI Claims Patent Services. The 400,000 employee company is as close as the world has to a universal supplier of IT software, sales, service, and consultancy for every one of the world's large business sectors. IBM has critical operations in a number of strategic parts of the technology industry such as carrier grade Internet security, cloud computing, database management, and enterprise mainframe computers. IBM is also the leader in emerging global technologies which include service-oriented architecture and information on demand.
3. Pfizer
2010 Revenue: $67.809 Billion
Number of Employees: 110,600
Market Cap: $162.3 Billion
One of the core goals of the vast pharmaceutical sector of the global economy is to cure disease and prolong life. Most people who do not die of malnutrition, starvation, or war are killed by communicable diseases such as AIDS, heart and vascular disease, cancer and the effect of obesity. This puts advanced drug development at the center of one of the largest business sectors in the world-one which touches tens of billions of people every day. Pfizer, headquartered in New York City, is the largest pharmaceutical company in sales. In 2010, the company had revenue of just under $68 billion. About $39 billion of this came from sales outside of the United States. Pfizer also has the largest R&D department in the pharmaceutical industry with scores of major treatments in its product pipeline
2. Google
2010 Revenue: $29.321 Billion
Number of Employees: 24,400
Market Cap: $188.7 Billion
Google's mission, according to the company, "is to organize the world's information and make it universally accessible and useful." In the 13 years since the company's founding, Google has come close to accomplishing this goal on a global scale. Started by two graduate students at Stanford University, Google is a prime example of American ingenuity and innovation. The company indexes the Internet for a huge portion of its users, effectively controlling how people seek and receive information. The word "Google" has even become synonymous with the act of searching for information on the Internet. The search company is by far the largest in the world and has migrated rapidly from PCs to mobile devices. Google has other businesses which are not large financially but have a profound affect on how technology inter-operates between machines and people. The most dominant of these is the Android mobile operating systems which powers millions of smartphones and other portable devices around the world.
1. Microsoft
2010 Revenue: $62.484 Billion
Number of Employees: 89,000
Market Cap:$216.87 Billion
Microsoft plays a significant role in the way that enterprises and governments around the world are organized and operate. The personal computer revolutionized the way business is done. Some pundits argue that Microsoft has become irrelevant, which is ludicrous. The company's software is at the heart of most of the world's computers. It would be hard to call products which are still so universally used obsolete. According to research firm Gartner, in 2008 there were more than one billion PCs in use, and by 2014 there will be two billion in use. Most PCs currently use a Microsoft operating system. As of February 2011, Microsoft's Windows operating system had just under 90% market share, according to analytics firm Net Applications. Microsoft Office's suite of spreadsheet and word processing programs similarly dominate the business software market. The company's influence can also be seen in terms of its size. It currently has the third largest market cap in the US, $216.87 billion. The Windows OS is and will be for some time irreplaceable.
U.S Multinationals Increasingly Hiring Abroad, Firing At Home
Large U.S. companies increasingly hire abroad and fire in America, according to new government data.
In the last decade, American multinational corporations, which together employ one-fifth of all U.S. workers, decreased domestic employment by 2.9 million workers while adding 2.4 million jobs overseas, the Commerce Department reported on Monday....
SHANGHAI -- General Motors Co. said Monday it plans to double the number of cars it sells in China to 5 million by 2015.
The Lost Eden of Childhood. Not Lost. Not Eden.
http://marginalrevolution.com/marginalrevolution/2011/04/the-lost-eden-of-childhood-not-lost-not-eden.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+marginalrevolution%2Ffeed+(Marginal+Revolution)
There is nothing wrong with a bit of personal nostalgia but when nostalgia is taken for reality it biases our thinking in counter-productive ways
Learning, and Profiting, from Online Friendships
Companies are working fast to figure out how to make money from the wealth of data they're beginning to have about our online friendships
The 10 Countries Where Unemployment Rose Most During The Recession: OECD
Since the financial crisis first pulled the world into the Great Recession, unemployment has become a global problem.
A new report released by the Paris-based Organisation for Economic Co-operation and Development entitled "Society at a Glance 2011 - OECD Social Indicators" includes data on the rising levels of global unemployment between 2007-2009, the years where the recession peaked.
Many countries on the list have seen high unemployment rates for years, most notably Spain, whose unemployment rate recently hit a Eurozone record at 21.3 percent, with 4.9 million Spaniards now jobless.
Other countries have trended in the opposite direction, however. Germany, for one, has watched its unemployment rate fall to 7.1 percent from 7.8 percent at the time of the report's publication. The United States has also seen some recent improvement, albeit notably less steep than Germany's drop.
Despite these improvements, the OECD's report finds that unemployment rates overall have increased across the globe, with the fews exceptions including Israel, Poland and South Africa.
Below are the nations whose unemployment rates have risen most since the Great Recession:
10. U.K.
2011 unemployment rate: 7.8 percent
2009 unemployment rate: 7.8 percent
Percent unemployment rate increase 2007 - 2009: 2.5 percent
9. New Zealand
2011 unemployment rate: 6.8 percent
2009 unemployment rate: 6.3 percent
Percent unemployment rate increase 2007 - 2009: 2.5 percent
8. Greece
2011 unemployment rate: 15.1 percent
2009 rate of unemployment: 9.6 percent
Percent unemployment rate increase 2007 - 2009: 2.6 percent
7. Portugal
2011 unemployment rate: 11.1 percent
2009 rate of unemployment: 10 percent
Percent unemployment rate increase 2007 - 2009: 2.7 percent
6. Turkey
2011 unemployment rate: 11.9 percent (Jan.)
2009 rate of unemployment: 14.3 percent
Percent unemployment rate increase 2007 - 2009: 3.8 percent
5. United States Of America
2011 unemployment rate: 8.8 percent
2009 unemployment rate: 9.4 percent
Percent unemployment rate increase 2007 - 2009: 4.7 percent
4. Iceland
2011 Unemployment rate: 7.8 percent
2009 rate of unemployment: 7.4 percent
Percent unemployment rate increase 2007 - 2009: 5.1 percent
3. Ireland
2011 unemployment rate: 14.9 percent
2009 rate of unemployment: 12.2 percent
Percent unemployment rate increase 2007 - 2009: 7.5 percent
2. Estonia
2011 unemployment rate: 10.2 percent
2009 rate of unemployment: 14.1 percent
Percent unemployment rate increase 2007 - 2009: 9.3 percent
1. Spain
2011 unemployment rate: 21.3 percent.
2009 unemployment rate: 18.1 percent
Percent unemployment rate increase 2007 - 2009: 9.6 percent
Social indicators
Global unemployment has reached dangerous levels, ILO report shows
ILO data provides an alarming picture of joblessness, especially among the young, that surely threatens more political instability
US Federal Reserve cuts economic growth forecast
Wells Fargo: Florida’s economy sees weak improvement
A new report released by the Paris-based Organisation for Economic Co-operation and Development entitled "Society at a Glance 2011 - OECD Social Indicators" includes data on the rising levels of global unemployment between 2007-2009, the years where the recession peaked.
Many countries on the list have seen high unemployment rates for years, most notably Spain, whose unemployment rate recently hit a Eurozone record at 21.3 percent, with 4.9 million Spaniards now jobless.
Other countries have trended in the opposite direction, however. Germany, for one, has watched its unemployment rate fall to 7.1 percent from 7.8 percent at the time of the report's publication. The United States has also seen some recent improvement, albeit notably less steep than Germany's drop.
Despite these improvements, the OECD's report finds that unemployment rates overall have increased across the globe, with the fews exceptions including Israel, Poland and South Africa.
Below are the nations whose unemployment rates have risen most since the Great Recession:
10. U.K.
2011 unemployment rate: 7.8 percent
2009 unemployment rate: 7.8 percent
Percent unemployment rate increase 2007 - 2009: 2.5 percent
9. New Zealand
2011 unemployment rate: 6.8 percent
2009 unemployment rate: 6.3 percent
Percent unemployment rate increase 2007 - 2009: 2.5 percent
8. Greece
2011 unemployment rate: 15.1 percent
2009 rate of unemployment: 9.6 percent
Percent unemployment rate increase 2007 - 2009: 2.6 percent
7. Portugal
2011 unemployment rate: 11.1 percent
2009 rate of unemployment: 10 percent
Percent unemployment rate increase 2007 - 2009: 2.7 percent
6. Turkey
2011 unemployment rate: 11.9 percent (Jan.)
2009 rate of unemployment: 14.3 percent
Percent unemployment rate increase 2007 - 2009: 3.8 percent
5. United States Of America
2011 unemployment rate: 8.8 percent
2009 unemployment rate: 9.4 percent
Percent unemployment rate increase 2007 - 2009: 4.7 percent
4. Iceland
2011 Unemployment rate: 7.8 percent
2009 rate of unemployment: 7.4 percent
Percent unemployment rate increase 2007 - 2009: 5.1 percent
3. Ireland
2011 unemployment rate: 14.9 percent
2009 rate of unemployment: 12.2 percent
Percent unemployment rate increase 2007 - 2009: 7.5 percent
2. Estonia
2011 unemployment rate: 10.2 percent
2009 rate of unemployment: 14.1 percent
Percent unemployment rate increase 2007 - 2009: 9.3 percent
1. Spain
2011 unemployment rate: 21.3 percent.
2009 unemployment rate: 18.1 percent
Percent unemployment rate increase 2007 - 2009: 9.6 percent
Social indicators
ILO data provides an alarming picture of joblessness, especially among the young, that surely threatens more political instability
The Man versus The State by Herbert Spencer
Introduction by Albert Jay Nock
Part 1: The New Toryism
Part 2: The Coming Slavery
Part 3: The Sins of Legislators
Part 4: The Great Political Superstition
The American Imperium
John V. Denson traces America's present day statist federal government and interventionist foreign policies to the Lincoln, Wilson and Roosevelt administrations. Presented at the Mises Institute Supporters Summit, Palm Springs, California; Recorded February 27-28, 1998. http://mises.org
John V. Denson, a practicing attorney in Opelika, Alabama, is the author of the book A Century of War and is the editor of two other books, The Costs of War and Reassessing the Presidency. In the latter work, he has chapters especially relevant for today, on how Lincoln and FDR lied us into war.
Selected articles by John V. Denson:
The Crime Called WW I
http://www.lewrockwell.com/orig2/denson3.html
Defending the Non-Interventionist Foreign Policy of Our Founders
http://www.lewrockwell.com/denson/denson11.html
The Hiroshima Myth
http://www.lewrockwell.com/orig2/denson7.html
FDR, Pearl Harbor and the U.N.
http://www.lewrockwell.com/orig2/denson8.html
American Mussolini
http://www.lewrockwell.com/denson/denson9.html
Another Century of War?
http://www.lewrockwell.com/orig2/denson2.html
Soldiers Against War: The Story of the World War I Christmas Truce
http://www.lewrockwell.com/orig2/denson4.html
Best-Ever Antiwar Novel and Movie
http://www.lewrockwell.com/denson/denson12.html
Why Did Lincoln Invade the South?
http://www.lewrockwell.com/orig2/denson6.html
Related links:
Read excerpted chapter from 'A Century of War' online:
http://mises.org/story/2355
Lew Rockwell Podcast: Wilson's War
http://www.lewrockwell.com/podcast/?p=episode&name=2008-08-25_027_wilsons...
Lew Rockwell Podcast: Lincoln's War
http://www.lewrockwell.com/podcast/?p=episode&name=2008-08-06_014_lincoln...
DISCLAIMER: The producer of this audio presentation, the Ludwig von Mises Institute, has given permission under the Creative Commons license to publicly repost as long as credit is given to the Mises Institute and respective guidelines are followed. More info at: http://creativecommons.org/licenses/by/3.0/us/
Friday, April 29, 2011
Royal Wedding Cost
Holiday for Royal Wedding to Cost the British Economy close to $10 Billion
Bloomberg is reporting that the Federation of Small Businesses calculates the extra public holiday to mark the wedding of Prince William and Kate Mildeton in London on April 29 may cost the economy as much $9.8 billion. In that same report, Bloomberg says that the total is almost 10 times the $1 billion that Verdict Research estimates that sales of wedding memorabilia could add to the economy. British Retail Consortium Director-General Stephen Robertson told Bloomberg, even though the wedding will boost retail sales for this month, the event "won't change the fundamentally weak conditions likely to undermine consumer confidence for some time yet,"
According to the Nationwide Building Society, consumer confidence in the U.K. increased last month though the reading in February was the lowest since it began compiling the index in 2004.
The royal extravaganza is expected to boost the UK economy coffers over the coming months by up to £2 billion with an influx of tourists. Subtract the costs of staging the wedding and it represents the boost needed for the economy.
However, it should be factored in that the lost output in the economy due to the public holiday may have had a greater cost.
Read this article from The Guardian
Bloomberg is reporting that the Federation of Small Businesses calculates the extra public holiday to mark the wedding of Prince William and Kate Mildeton in London on April 29 may cost the economy as much $9.8 billion. In that same report, Bloomberg says that the total is almost 10 times the $1 billion that Verdict Research estimates that sales of wedding memorabilia could add to the economy. British Retail Consortium Director-General Stephen Robertson told Bloomberg, even though the wedding will boost retail sales for this month, the event "won't change the fundamentally weak conditions likely to undermine consumer confidence for some time yet,"
According to the Nationwide Building Society, consumer confidence in the U.K. increased last month though the reading in February was the lowest since it began compiling the index in 2004.
The royal extravaganza is expected to boost the UK economy coffers over the coming months by up to £2 billion with an influx of tourists. Subtract the costs of staging the wedding and it represents the boost needed for the economy.
However, it should be factored in that the lost output in the economy due to the public holiday may have had a greater cost.
Read this article from The Guardian
In this new era of capitalism, who do we trust? Markets, regulators or both?
At this very early stage in the 2012 presidential campaign, the economy is getting most of the attention. From the deficit to taxes, changing Medicare and Social Security, to raising the debt ceiling — it’s all about the Benjamins and whether the government should play a larger or smaller role in managing the economy.
We want to introduce you to someone who says it’s not one or the other — it’s both. Anatole Kaletsky is an economist and editor-at-large of the Times of London. His most recent book envisions a future where markets and government will have to work together in a way we haven’t seen before. He calls it “Capitalism 4.0.” Need to Know spoke with Kaletsky about his theory — but first, here’s a little historical perspective:
According to Kaletsky, Capitalism 1.0. was marked by Adam Smith’s “Invisible Hand” theory, which said that markets function best when they’re left alone. This period ended with the Great Depression. Capitalism 2.0 began in the 1930s with the New Deal, a time when people trusted government, not markets, to lead economic recovery. But this trust in government dissolved with the inflation of the 1970s. Capitalism 3.0 began in the 1980s. We know it as Reaganomics, the period when the market once again ruled. That ended with the financial crisis of 2008.
And that brings us to today, and Capitalism 4.0. Need to Know financial correspondent Stacey Tisdale sat down with Kaletsky to discuss who we should trust now.
Capitalism 4.0: Balancing Markets and Government - Anatole Kaletsky
NIck Higham interviews Anatole Kaletsky about his new book, Capitalism 4.0 from atop on London's City Hall. The book discusses the banking crisis and what should be done to make sure it doesn't happen again.
Board Member Anatole Kaletsky gives an overview of his terrific new book on today's reinvention of capitalism on a scale only seen 4 times in 250 years. Interviewed by Robert Johnson in New York City, June 2010.
Watch the full episode. See more Need To Know.
We want to introduce you to someone who says it’s not one or the other — it’s both. Anatole Kaletsky is an economist and editor-at-large of the Times of London. His most recent book envisions a future where markets and government will have to work together in a way we haven’t seen before. He calls it “Capitalism 4.0.” Need to Know spoke with Kaletsky about his theory — but first, here’s a little historical perspective:
According to Kaletsky, Capitalism 1.0. was marked by Adam Smith’s “Invisible Hand” theory, which said that markets function best when they’re left alone. This period ended with the Great Depression. Capitalism 2.0 began in the 1930s with the New Deal, a time when people trusted government, not markets, to lead economic recovery. But this trust in government dissolved with the inflation of the 1970s. Capitalism 3.0 began in the 1980s. We know it as Reaganomics, the period when the market once again ruled. That ended with the financial crisis of 2008.
And that brings us to today, and Capitalism 4.0. Need to Know financial correspondent Stacey Tisdale sat down with Kaletsky to discuss who we should trust now.
NIck Higham interviews Anatole Kaletsky about his new book, Capitalism 4.0 from atop on London's City Hall. The book discusses the banking crisis and what should be done to make sure it doesn't happen again.
Board Member Anatole Kaletsky gives an overview of his terrific new book on today's reinvention of capitalism on a scale only seen 4 times in 250 years. Interviewed by Robert Johnson in New York City, June 2010.
Big fish, little fish
Why the executives behind the financial crisis aren’t facing jail time
The observation was this: “Biggest fish face little risk of being caught.” It was the title of a column by New York Times business writer Joe Nocera, after it was reported that the Justice Department decided not to prosecute the former CEO of Countrywide Financial, at one time the nation’s biggest mortgage lender. Nocera noted that few of the people most responsible for the subprime mortgage disaster and the financial crisis it triggered have been held accountable. The question is, Why not?
Need to Know’s Shoshona Guy sat down with Nocera to hear his take on the story of big fish and little fish.
http://www.pbs.org/wnet/need-to-know/economy/video-big-fish-little-fish-why-the-executives-behind-the-financial-crisis-arent-facing-jail-time/8951/
The observation was this: “Biggest fish face little risk of being caught.” It was the title of a column by New York Times business writer Joe Nocera, after it was reported that the Justice Department decided not to prosecute the former CEO of Countrywide Financial, at one time the nation’s biggest mortgage lender. Nocera noted that few of the people most responsible for the subprime mortgage disaster and the financial crisis it triggered have been held accountable. The question is, Why not?
Need to Know’s Shoshona Guy sat down with Nocera to hear his take on the story of big fish and little fish.
Watch the full episode. See more Need To Know.
http://www.pbs.org/wnet/need-to-know/economy/video-big-fish-little-fish-why-the-executives-behind-the-financial-crisis-arent-facing-jail-time/8951/
The 10 Most Dangerous Industries In The U.S.
Worker Deaths Decline Due To Recession, Not New Safety Regulations
http://www.huffingtonpost.com/2011/04/28/worker-deaths-decline_n_854627.html#s270140&title=10_Mining
WHY WON'T THE GOP CLAMP DOWN ON TAX EVASION?
Policing Tax Evasion Could Save Billions, But Republicans Won't Fund Enforcement
House Speaker John Boehner (R-Ohio) admitted on Monday that the federal government is in serious need of extra revenue..... The U.S. government loses around $300 billion in revenue each year because of tax cheats, some of whom hide their earnings in offshore accounts or disguise them using complicated business structures, according to the Internal Revenue Service. Since 2001, tax evasion has cost as much as the wars in Iraq and Afghanistan, the Bush tax cuts and the 2009 stimulus combined, according to the financial-services analysis firm The Motley Fool.
"Here's the real question to ask: The Internal Revenue Service is the money-making division of the government. It's the sales department. Why would you cut your sales force when you have the budget constraints that we do?" said Johnston, who in 2001 won a Pulitzer Prize for his New York Times coverage of the U.S. tax code. "It is astonishing to me that people who want law and order on other issues want to handcuff the tax police."
"Here's the real question to ask: The Internal Revenue Service is the money-making division of the government. It's the sales department. Why would you cut your sales force when you have the budget constraints that we do?" said Johnston, who in 2001 won a Pulitzer Prize for his New York Times coverage of the U.S. tax code. "It is astonishing to me that people who want law and order on other issues want to handcuff the tax police."
Keiser Report: Blind Cult of America (E142)
This time Max Keiser and co-host, Stacy Herbert, report on downgrades, gold bars and third worlds. In the second half of the show, Max talks to Chris Martenson about the breakdown drawing near!
Tuesday, April 26, 2011
Top 10 States With The Worst Income Inequality: 24/7 Wall St.
http://www.huffingtonpost.com/2011/04/26/top-ten-states-with-the-worst-inequality_n_853755.html#s269501&title=10_Massachusetts
10. Massachusetts
Gini Coefficient: 0.468
Median Income: $59,373 (8th Highest)
Households Earning $200,000+: 6.56% (4th Highest)
Population Living Below Poverty Line: 10.30% (7th Lowest)
Massachusetts has the fourth-greatest percentage of wealthy residents among all the states and the seventh-lowest percentage of people living below the poverty line. However, according to The Massachusetts Budget and Policy Center, "incomes for the highest income families in Massachusetts have grown almost five times as fast as those for low-income families and nearly twice as fast as those for middle-income families," over the past two decades. According to the organization, the inequality gap has increased more during this time in Massachusetts than in 47 of the other states.
10. Massachusetts
Gini Coefficient: 0.468
Median Income: $59,373 (8th Highest)
Households Earning $200,000+: 6.56% (4th Highest)
Population Living Below Poverty Line: 10.30% (7th Lowest)
Massachusetts has the fourth-greatest percentage of wealthy residents among all the states and the seventh-lowest percentage of people living below the poverty line. However, according to The Massachusetts Budget and Policy Center, "incomes for the highest income families in Massachusetts have grown almost five times as fast as those for low-income families and nearly twice as fast as those for middle-income families," over the past two decades. According to the organization, the inequality gap has increased more during this time in Massachusetts than in 47 of the other states.
Monday, April 25, 2011
Gas Price Spikes
Runaway gasoline prices jack up costs, fueling economic anxiety.
High Gas Prices Lead to Stealing
Drivers caught sneaking gas at the pump and burglars siphoning tanks.
Gas Prices Raised Mid-Pump
Soaring gas prices force some drivers to take extreme measures to try and save.
High Gas Prices Lead to Stealing
Drivers caught sneaking gas at the pump and burglars siphoning tanks.
Gas Prices Raised Mid-Pump
Soaring gas prices force some drivers to take extreme measures to try and save.
Sunday, April 24, 2011
How Eli Broad gives his billions away
Eli Broad sets the standard for philanthropy. He's given away over $2 billion and plans on leaving even more before he dies. But along with his name, his advice and oftentimes his control are usually part of the deal. Morley Safer reports.
http://www.cbsnews.com/stories/2011/04/21/60minutes/main20056147.shtml?tag=currentVideoInfo;segmentTitle
Extra: A peek at Eli Broad's art collection
Eli Broad has collected so many pieces of art that some have to be stored in a warehouse. One piece in particular puzzled Morley Safer
Extra: Eli and Edye Broad's "joint venture"
Eli Broad and his wife Edye explain to Morley Safer how they approach the philanthropic side of their lives like a joint venture.
Extra: Investing in science
Eli Broad invested hundreds of millions of dollars in a scientific research institute, the Broad Institute in Cambridge, Mass. Its scientific discoveries and breakthroughs are in the public domain, available to everyone.
http://www.cbsnews.com/stories/2011/04/21/60minutes/main20056147.shtml?tag=currentVideoInfo;segmentTitle
Eli Broad has collected so many pieces of art that some have to be stored in a warehouse. One piece in particular puzzled Morley Safer
Extra: Eli and Edye Broad's "joint venture"
Eli Broad and his wife Edye explain to Morley Safer how they approach the philanthropic side of their lives like a joint venture.
Extra: Investing in science
Eli Broad invested hundreds of millions of dollars in a scientific research institute, the Broad Institute in Cambridge, Mass. Its scientific discoveries and breakthroughs are in the public domain, available to everyone.
Saturday, April 23, 2011
America's debt: The debt ceiling and default
http://www.economist.com/blogs/freeexchange/2011/01/americas_debt
Rubin, O’Neill Say Debt Ceiling Should Be Separate From Budget
U.S. inching closer to debt ceiling
The U.S. credit limit of $14.3 trillion is almost maxed out. The national debt is expected to hit its limit by mid-May. And, as Whit Johnson reports, if something doesn't change, the U.S. could go into default for the first time ever.
Raise the Debt Limit?
Apr 22, 2011- 9:54 -- Rep. Peter Welch (D-VT) tells Alan why he wants Congress to extend the debt ceiling without conditions
National debt default and its impact
Russ Mitchell and managing director of Zephyr Management Jim Awad discuss the national debt and what a default might mean for the U.S.
The Debt Limit: Made Simple
This video takes you to the United Estates--a gated community in sunny Florida--to help you understand the impact of Congress decision to annually raise our nations debt limit without addressing the out-of-control spending that keeps us buried in debt.
Jamie Dimon: Here's What Will Happen If The Debt Ceiling Isn't Raised And The U.S. Defaults
http://www.businessinsider.com/jamie-dimon-debt-ceiling-isnt-raised-and-the-us-defaults-praying-2011-4
http://www.businessinsider.com/jamie-dimon-debt-ceiling-isnt-raised-and-the-us-defaults-praying-2011-4
Tim Geithner Confident Congress Will Raise Debt Ceiling: Not Doing So Would Be 'Catastrophic'
U.S. inching closer to debt ceiling
The U.S. credit limit of $14.3 trillion is almost maxed out. The national debt is expected to hit its limit by mid-May. And, as Whit Johnson reports, if something doesn't change, the U.S. could go into default for the first time ever.
Raise the Debt Limit?
Apr 22, 2011- 9:54 -- Rep. Peter Welch (D-VT) tells Alan why he wants Congress to extend the debt ceiling without conditions
National debt default and its impact
Russ Mitchell and managing director of Zephyr Management Jim Awad discuss the national debt and what a default might mean for the U.S.
The Debt Limit: Made Simple
This video takes you to the United Estates--a gated community in sunny Florida--to help you understand the impact of Congress decision to annually raise our nations debt limit without addressing the out-of-control spending that keeps us buried in debt.
Friday, April 22, 2011
Wednesday, April 20, 2011
BP: 1 year later
Day of remembrance on the Gulf Coast
One year after the Deepwater Horizon explosion began what became the worst offshore oil spill in U.S. history. A few vigils marked the day, while cleanups continued. Meanwhile, the people of the region tried to move on.
"A Sea in Flames": Ecologist Carl Safina on First Anniversary of Deepwater Horizon Oil Rig Blowout.
JOHN HOCEVAR: Most of the oil is still there in the Gulf today. It’s in the water. It’s on the sediment. It’s on the seafloor. A lot of it’s washed up into the wetlands, and it’s still there. It’s still being eaten by marine life today.
http://www.democracynow.org/2011/4/20/a_sea_in_flames_ecologist_carl
Voices from the Gulf: "One Year Later, We’re in the Same Situation as Last Year"
DAVID PHAM: One year later, we see that we’re in the same situation as last year, where no one really knows what’s next, where last year we didn’t know if it was going to affect as far as Alabama and our fishing industry, but this year a lot of our community members just don’t know what’s in store for them next. Will they—we’re waiting on our final claims, but what happens after the claim process is done? Can they go back to work? If they can’t go back to work, what can they do? Because I tell a lot of people, shucking oysters and picking crab—peeling crab doesn’t really translate to any other kind of job skills.
http://www.democracynow.org/2011/4/20/voices_from_the_gulf_one_year
Deepwater Drilling Resumes Despite Unclear Impact of BP Spill: "It is All about Hiding the Oil, Not Cleaning It Up"
Many scientists remain concerned that chemical dispersants used during the BP oil spill recovery effort may have damaged marine habitats, affecting many endangered species. "You’ve got this unbelievable chemical soup out there on the order that’s never been seen before,” says our guest, Kieran Suckling, director of the Center for Biological Diversity. Meanwhile, the federal government has awarded its first permit for deepwater drilling in the Gulf of Mexico since lifting a moratorium imposed in the aftermath of the BP spill.
http://www.democracynow.org/2011/4/20/deepwater_drilling_resumes_despite_unclear_impact
Death Toll from BP Spill Still Rising as Residents Die from Spill-Related Illnesses.
"We’ve had many deaths of humans directly attributed to this disaster," says investigative journalist Dahr Jamail. "I recently spoke with Dr. Mike Robichaux, a doctor in Louisiana who’s treated scores of people. And he said, if we do not have federal government intervention immediately to deal with this and start treating people and start really cleaning this up appropriately, we’re going to have a lot of dead people on our hands."
http://www.democracynow.org/2011/4/20/death_toll_from_bp_spill_still
Father of Deepwater Horizon Victim: The Blowout Was “Inevitable” Due to BP’s Lack of Safety Precautions.
One year ago today, 28-year-old Gordon Jones was one of 11 workers killed aboard the Deepwater Horizon oil rig that exploded April 20. Today we speak to his father, Keith Jones, who has been critical of the operators of the rig. “BP and Halliburton and Transocean peeled back layer after layer after layer of safety protections, one after another, until this blowout was inevitable,” says Keith Jones.
http://www.democracynow.org/2011/4/20/father_of_deepwater_horizon_victim_the
7 Fastest-Growing Retailers in America
Sure, Amazon is on the list, but you may be surprised by the other six. Hint: Only one is based in cyberspace
Tuesday, April 19, 2011
Is 'Nudging' Really Enough?
With things like burgers and electricity, we often need a shove.
For the last few hundred years, a simple assumption has dominated economic thinking about human nature: We are rational creatures. When faced with alternatives, we carefully maximize our utility, just like those hypothetical agents in the Econ 101 textbooks.
Unfortunately, the latest research on the mind demonstrates that a whirligig of emotions, instincts and biases, many of which operate outside conscious awareness, shapes our behavior.
In recent years, politicians have begun proposing policies directly inspired by this conception of human nature. Many of these ideas have come from the rapidly growing field of behavioral economics, which uses the insights of psychology and neuroscience to construct more realistic models of how we decide. This research often focuses on irrational choices, such as taking out subprime mortgages and ordering double bacon cheeseburgers.
Behavioral economists hope to construct "nudges" that push us in a more responsible direction. They do this primarily by tweaking our decision-making environment, altering the way we perceive our options. For instance, studies show that placing fruit at eye level in a school cafeteria can dramatically increase sales. Instead of gorging on cookies, the kids are nudged into eating apples.
The influence of behavioral economics is already visible in the halls of power. Cass Sunstein, a Harvard legal scholar and co-author of "Nudge," a best-selling survey of the field, is serving in Barack Obama's White House. British Prime Minister David Cameron, meanwhile, has established a "nudge unit" in his Cabinet office and regularly consults leading academics in the field.
For the last few hundred years, a simple assumption has dominated economic thinking about human nature: We are rational creatures. When faced with alternatives, we carefully maximize our utility, just like those hypothetical agents in the Econ 101 textbooks.
Unfortunately, the latest research on the mind demonstrates that a whirligig of emotions, instincts and biases, many of which operate outside conscious awareness, shapes our behavior.
In recent years, politicians have begun proposing policies directly inspired by this conception of human nature. Many of these ideas have come from the rapidly growing field of behavioral economics, which uses the insights of psychology and neuroscience to construct more realistic models of how we decide. This research often focuses on irrational choices, such as taking out subprime mortgages and ordering double bacon cheeseburgers.
Behavioral economists hope to construct "nudges" that push us in a more responsible direction. They do this primarily by tweaking our decision-making environment, altering the way we perceive our options. For instance, studies show that placing fruit at eye level in a school cafeteria can dramatically increase sales. Instead of gorging on cookies, the kids are nudged into eating apples.
The influence of behavioral economics is already visible in the halls of power. Cass Sunstein, a Harvard legal scholar and co-author of "Nudge," a best-selling survey of the field, is serving in Barack Obama's White House. British Prime Minister David Cameron, meanwhile, has established a "nudge unit" in his Cabinet office and regularly consults leading academics in the field.
You Asked, Donald Trump Answered
5 questions to Donald Trump:
How can he defend his fiscal policy when his businesses have entered bankruptcy?
Where are the furnishings in his hotel made?
Is his wife Melania prepared to be a candidate’s wife?
If Trump runs would he put his assets in a blind trust?
And what is the one thing he would like to do over?
http://blogs.abcnews.com/george/2011/04/you-asked-donald-trump-answered.html
Wouldn't Warren Buffet be a better choice than Donald Trump?
How can he defend his fiscal policy when his businesses have entered bankruptcy?
Where are the furnishings in his hotel made?
Is his wife Melania prepared to be a candidate’s wife?
If Trump runs would he put his assets in a blind trust?
And what is the one thing he would like to do over?
http://blogs.abcnews.com/george/2011/04/you-asked-donald-trump-answered.html
Wouldn't Warren Buffet be a better choice than Donald Trump?
Donald Trump's Solution on Gas Prices:
Get Tough With Saudi Arabia; Seize Oil Fields in Libya and Iraq?
Transcript:
Trump: Look at what’s going on with your gasoline prices. They’re going to go to $5, $6, $7 and we don’t have anybody in Washington that calls OPEC and says, "Fellas, it’s time. It’s over. You’re not going to do it anymore." I don’t know if you saw yesterday, Saudi Arabia came out and said very strongly there’s plenty of oil. "We’re going to cut back." You know what cutting back means? They’re going to drive up the price even further.
Stephanopoulos: So, what would you do to back up that threat?
Trump: Oh, it’s so easy George. It’s so easy. It’s all about the messenger. They wouldn’t even be there if it wasn’t for us. If it weren’t for us, they wouldn’t be there. These 12 guys sit around a table and they say, "Let’s just screw the United States." And frankly, the rest of the world.
…
Stephanopoulos: And so finish this sentence. "If you don’t produce more oil…"
Trump: Look. I’m going to look ‘em in the eye and say, "Fellas, you’ve had your fun. Your fun is over."
…
Stephanopoulos: So, you would threaten to take away that [security] protection?
Trump: Oh, absolutely. Absolutely. Let’s-- let me tell you something. Oil prices might go down. Because there’s plenty of oil, all over the world. Ships at sea. They don’t know where to dump it. I saw a report yesterday. There’s so much oil, all over the world, they don’t know where to dump it. And Saudi Arabia says, "Oh, there’s too much oil." They-- they came back yesterday. Did you see the report? They want to reduce oil production. Do you think they’re our friends? They’re not our friends.
And Trump was even more specific on what he would do with the Iraq oil fields: seize them.
Trump: George, let me explain something to you. We go into Iraq. We have spent thus far, $1.5 trillion. We could have rebuilt half of the United States. $1.5 trillion. And we’re going to then leave. So, in the old days, you know when you had a war, to the victor belong the spoils. You go in. You win the war and you take it.
…
Stephanopoulos: It would take hundreds of thousands of troops to secure the oil fields.
Trump: Excuse me. No, it wouldn’t at all.
…
Stephanopoulos: So, we steal an oil field?
Trump: Excuse me. You’re not stealing. Excuse me. You’re not stealing anything. You’re taking-- we’re reimbursing ourselves-- at least, at a minimum, and I say more. We’re taking back $1.5 trillion to reimburse ourselves.
http://blogs.abcnews.com/george/2011/04/donald-trumps-solution-on-gas-prices-get-tough-with-saudi-arabia-seize-oil-fields-in-libya-and-iraq.html
Transcript:
Trump: Look at what’s going on with your gasoline prices. They’re going to go to $5, $6, $7 and we don’t have anybody in Washington that calls OPEC and says, "Fellas, it’s time. It’s over. You’re not going to do it anymore." I don’t know if you saw yesterday, Saudi Arabia came out and said very strongly there’s plenty of oil. "We’re going to cut back." You know what cutting back means? They’re going to drive up the price even further.
Stephanopoulos: So, what would you do to back up that threat?
Trump: Oh, it’s so easy George. It’s so easy. It’s all about the messenger. They wouldn’t even be there if it wasn’t for us. If it weren’t for us, they wouldn’t be there. These 12 guys sit around a table and they say, "Let’s just screw the United States." And frankly, the rest of the world.
…
Stephanopoulos: And so finish this sentence. "If you don’t produce more oil…"
Trump: Look. I’m going to look ‘em in the eye and say, "Fellas, you’ve had your fun. Your fun is over."
…
Stephanopoulos: So, you would threaten to take away that [security] protection?
Trump: Oh, absolutely. Absolutely. Let’s-- let me tell you something. Oil prices might go down. Because there’s plenty of oil, all over the world. Ships at sea. They don’t know where to dump it. I saw a report yesterday. There’s so much oil, all over the world, they don’t know where to dump it. And Saudi Arabia says, "Oh, there’s too much oil." They-- they came back yesterday. Did you see the report? They want to reduce oil production. Do you think they’re our friends? They’re not our friends.
And Trump was even more specific on what he would do with the Iraq oil fields: seize them.
Trump: George, let me explain something to you. We go into Iraq. We have spent thus far, $1.5 trillion. We could have rebuilt half of the United States. $1.5 trillion. And we’re going to then leave. So, in the old days, you know when you had a war, to the victor belong the spoils. You go in. You win the war and you take it.
…
Stephanopoulos: It would take hundreds of thousands of troops to secure the oil fields.
Trump: Excuse me. No, it wouldn’t at all.
…
Stephanopoulos: So, we steal an oil field?
Trump: Excuse me. You’re not stealing. Excuse me. You’re not stealing anything. You’re taking-- we’re reimbursing ourselves-- at least, at a minimum, and I say more. We’re taking back $1.5 trillion to reimburse ourselves.
http://blogs.abcnews.com/george/2011/04/donald-trumps-solution-on-gas-prices-get-tough-with-saudi-arabia-seize-oil-fields-in-libya-and-iraq.html
Sporting events and traffic fatalities: When winning is not a good thing
When your team wins a close one, you may be in danger driving home after the game, according to a new study in the Journal of Consumer Research. The study shows that traffic fatalities rise near the hometowns of winning teams on game days.
How do consumers judge quality? It depends on who's making the purchase
Someone is more likely to predict the quality of a product by its price if someone else is buying it, according to a new study in the Journal of Consumer Research. But when consumers buy products themselves, they are more likely to judge quality by a product's attributes.
Early product launches: How will consumers respond?
A new study in the Journal of Consumer Research explains why consumers often indicate they are willing to pay more for a product that is not yet available—but are reluctant to pay that price when the product is ultimately launched.
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