Beauty and Success

The Economist has an interesting article about beauty and success, and notes that you can still discriminate against ugly people.

Just over a decade ago Dr Hamermesh presided over a series of surveys in the United States and Canada which showed that when all other things are taken into account, ugly people earn less than average incomes, while beautiful people earn more than the average. The ugliness "penalty" for men was -9% while the beauty premium was +5%. For women, perhaps surprisingly considering popular prejudices about the sexes, the effect was less: the ugliness penalty was -6% while the beauty premium was +4%.

Given this information, there could actually be a financial return on plastic surgery.

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Business Notes

The NYT reports that the minimum wage was just increased. Inflation, anyone?

Congress may approve "the biggest overhaul of mortgage financing since the New Deal."

The government is acknowledging the suffering of business owners everywhere by raising the gas deductible by eight cents.

The Metropolitan Money Store defrauded potential foreclosure victims out of millions of dollars by setting up fake loans and inflated appraisals. Ouch.

The Fed, in a determined effort to control inflation, said today it would "strongly resist" inflationary pressures on the economy. Translation: interest rates are going up in the not-to-distant future.

... More Biznotes

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