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Salon reports that high-end prostitution isn’t very sensitive to downturns in the economy. In fact, while prostitutes serving Wall Street may not have as many parties to attend, they’re still in high demand. From Sudhir Venkatesh’s article: Today’s high-end sex workers see themselves as therapists, part of a vast metropolitan wellness industry that includes private […]
Earlier this month the Treasury Department, headed by Henry Paulson, in conjunction with The Advertising Council, came out with a new public service advertising (PSA) campaign that encourages young adults aged 18 to 24 to make responsible choices re: debt and finances. Key to the campaign is the concept of to think twice before spontaneously […]
In an unprecedented move towards transparency, the government posted its 110-page financial bailout bill on the Internet. It’s written in Bill-ese, so the House posted two shorter versions in addition to the full text of the bill. The House will vote on the bill early Monday morning; the Senate Wednesday. A few key points not […]
The Fed today offered global insurer AIG (Ailing Insurance Giant?) an $85 billion loan in exchange for a nearly 80% stake in the company. The fourth such rescue in a matter of months (if you count Fannie and Freddie as two separate entities) has the media invoking even more Great Depression analogies than usual, while […]
If someone put me in a white room with the word “Economy” scrawled on the wall in big red letters, I’d panic and start looking for ax murderers. These days, the word is right up there with “Red Rum” in terms of anxiety-inducing statements. Nosing around for new insights into fear and business, I came […]
Psychology Today has a must-read article on the mental health crisis affecting China’s youth. The problem has its roots in Mao-era parents who, after giving up on their own dreams of transcending the working class, put all of their energy into raising superachiever offspring. The result? Large numbers of disenfranchised young people who put their […]
We’re in a water crisis. Before I talked to economist and creator of Aguanomics David Zetland, those two words–water + crisis—made me scratch my head. I’ve visited developing countries with water problems in the past. In many of those places, water trucks refill tanks located on the tops of buildings, and consumers have to haul […]
From MSNBC: Beverly Hills is one of the most fertile oil fields in Los Angeles, producing nearly a million barrels a year. Many wells are camouflaged or hidden inside buildings. Not far from here, in Wilmington, they churn out far more oil — in fact, the Department of Energy calls Wilmington the third largest oil […]
Forget about your faith. Forget about your politics. This blog is about business and as it turns out, gay marriage would rock our economy. Studies by the Williams Institute for California and New Jersey project over $82 million in revenue to benefit those states over the next three years. In addition, the Congressional Budget Office […]
Forgive me, but I’m a little confused. Three times in the past week I have received coupons for premium, fresh ingredient based, holistic pet food! One brand comes shrink-wrapped in the deli case ala Jimmy Dean Sausage. Apparently dogs are now even going Vegan. Huh? While gas prices are forcing me to make cuts in […]
The Washington Post has a great article today that explores the reasons why empowering women eliminates the cycle of poverty, particularly in post-conflict Rwanda. It’s hard to imagine the lives Rwandan women have lead, hard to relate to a circumstance where you have no rights, no standing, and no physical power to protect yourself. So […]
If you follow behavioral economics, you have most likely heard of the ultimatum game. It is played with two participants. The first is offered $40 and allowed to choose how much of that $40 to share with the second person. If the second person accepts the offer, the money is awarded to each as agreed. […]
