Economics made simple

Meeting’s Key Decision May Be to Keep Talking

2008-11-14T22:35:00.000-08:00

WASHINGTON — Leaders from nearly two dozen countries, large and small, converged here Friday to take part in a financial summit meeting with an agenda as broad and complex as the crisis it is meant to stem.

Times Topics: Credit Crisis — The EssentialsWith the global economy slipping into its most serious downturn in decades, the Group of 20 seemed likely to agree on a few modest measures, according to a senior American official, including a commitment to have banking regulators coordinate their efforts more closely.

By MARK LANDLER and STEVEN LEE MYERS
Published: November 14, 2008

The economics of disability and disability policy

2007-01-11T14:33:00.000-08:00

The economics of disability and disability policy
Robert H. Haveman and Barbara L. Wolfe
Chapter 18 in Handbook of Health Economics, 2000, vol. 1, pp 995-1051 from Elsevier

Abstract: We discuss and critique the main lines of economic research that address the economic status and behavior of the working-age population of people with disabilities. We define this population as those with physical or mental limitations that impede their daily activities or their productivity on the job. Using this definition, we assess the prevalence, trend, and composition of the population of disabled working-aged people in the United States and other Western societies, and document the extent of market work among this population. Such market work contributes to the economic well-being of the working-age disabled, but for most of them, income from public transfers and from the earnings of other household members are crucial in determining the level of family economic well-being. Relative to the nondisabled, those with disabilities have substantially lower levels of economic well-being in spite of public income support programs. While public income support is important in sustaining the level of well-being of the disabled, these policies also have serious incentive effects, especially labor supply disincentives. We document these incentive effects in US policy, and review the research studies that estimate the response of disabled people to these incentives. In addition to income support policy, we also describe public policy toward disabled people associated with antidiscrimination legislation, rehabilitation and training programs, income support for poor disabled children, and public regulations and financial support for special education in schools. We conclude by comparing US disability policy with that in other Western industrialized countries and identifying research issues that are relevant to all societies with advanced policies toward working-age people with disabilities.

Lying and telling the truth

2006-03-14T10:00:00.000-08:00

by Rosemary Haefner
Vice President of Human Resources
CareerBuilder.com
Ever get that sneaking suspicion one of your co-workers isn't being straight with you? Your instincts may be right.

Nineteen percent of workers admitted they tell lies at the office at least once a week, according to CareerBuilder.com's new "Honesty in the Workplace" survey. Fifteen percent of workers reported they were caught in a lie at the office.

When asked why they felt compelled to bend the truth at work, respondents cited the following reasons:

To appease a customer (26 percent)
To cover up a failed project, mistake or missed deadline (13 percent)
To explain an unexcused absence or late arrival (8 percent)
To protect another employee (8 percent)
To get another employee in trouble or look better in front of a supervisor (5 percent)
But be warned: Nearly one-in-four hiring managers -- 24 percent -- say they have fired an employee for being dishonest.

It may seem cliche, but honesty is the best policy. Even if you are motivated by the best of intentions, being deceitful can seriously compromise your credibility with colleagues and negatively impact your career progress. The vast majority of hiring managers -- 85 percent -- say they are less likely to promote an employee who has lied to them or other members of the organization.

The most common lies workers say they have told at the office include:

I don't know how that happened (20 percent)
I have another call to take or I'll call you right back (16 percent)
I've been out of town or out sick (10 percent)
I like your outfit or you look great (8 percent)
I didn't get your e-mail, voicemail or fax (8 percent)
Which ones have you used?

Survey Methodology:
CareerBuilder.com's survey, "Honesty in the Workplace," was conducted from November 15 to December 6, 2005. Methodology used to collect survey responses totaling more than 2,050 workers for this study involved selecting a random sample of comScore Networks panel members. These Web Panel members were approached via an e-mail invitation, which asked them to participate in a short online survey. The results of this survey are statistically accurate to within +/- 2.16 percentage points (19 times out of 20). Note: the sample of 2,050+ included 1,000 hiring managers. The results for the hiring managers alone are accurate within +/- 3.09 percentage points (19 timesout of 20).

http://channels.netscape.com/careers/package.jsp?name=careers/pm/lyingworkers

Technorati tags: work,truth,lying

Job growth

2006-03-10T06:26:00.000-08:00

U.S. payrolls jumped by 243,000 in February
Job growth was better than economists' forecasts

AP associated press..
Updated: 8:47 a.m. ET March 10, 2006

WASHINGTON - Hiring gained ground in February with employers adding 243,000 jobs, the most in three months. Brighter job prospects sent people streaming into the labor force, however, pushing the unemployment rate up marginally to 4.8 percent.

The employment report issued Friday by the Labor Department showed that job gains were fairly broad based. Construction companies, retailers, financial services all other industries posted payroll increases. That blunted job losses in manufacturing.

The unemployment rate inched up to 4.8 percent from a 4 1/2 year low of 4.7 percent in January. The bump-up in the jobless rate came as people — feeling better about job prospects — applied for work in droves.

story continues...

Economics and People with Disabilities

2006-02-22T07:52:00.000-08:00

Economics and People with Disabilities

The American economy is growing, according to the most recent statistics, at the sizzling rate of seven percent, and is in the middle of the largest peacetime expansion in American history. We read in the newspapers that practically everyone who wants a job can get one. Microsoft is running advertisements in the New York Times practically begging Congress to issue more visas for foreign computer and information technology workers.
In this environment, it is shocking that one group of Americans, people with disabilities, have such a high level of unemployment: 30 percent are not employed -- the same percentage as when the Americans With Disabilities Act became law. Recent research has confirmed that the economic expansion of the 1990s has significantly boosted the incomes of most working-age men and women without disabilities. But men and women with disabilities have been left behind, and did not share in the economic growth of the 1990s. Not only did their employment and labor earnings fall during the recession of the early 1990s, but employment and earnings continued to fall during the long economic expansion that followed. Many of these people are skilled professionals who are highly marketable in today's economy.

read more...

GLOBAL STATISTICS

2006-01-11T08:18:00.000-08:00

If you would like this post translated,
please contact the blog developer at edfern34[at]hotmail[dot]com

GLOBAL TEST MARKET
Nuevo Indice de Libertad Económica de la Heritage Foundation
Hong Kong y Singapur, las economías más libres del mundo
- España ocupa el puesto 33 en el ranking mundial de libertad económica
- Fuerte empeoramiento en los últimos años de Argentina y Venezuela
- Chile: la economía más libre en Latinoamérica
The Heritage Foundation ha hecho público recientemente el Indice de Libertad Económica 2006. Este estudio, que la fundación viene realizando desde hace años, valora y clasifica a los países en cuanto a su grado de libertad económica, considerando una serie de aspectos como la carga fiscal, la intervención del gobierno en la economía, las restricciones a las inversiones extranjeras, el peso de las regulaciones, la protección de los derechos de propiedad, el grado de corrupción, etc..
Hong Kong es la economía que obtiene el título de la más libre del mundo, seguida de otra economía asiática, Singapur.
En el cuadro adjunto se ha recogido la clasificación, y puntuación, de una serie de países significativos.
España ocupa el puesto 33, con una puntuación de 2,33 (1 es la mejor puntuación; 5, la peor).
La economía española mejora su puntuación en los dos años de gobierno del PSOE, pasando de 2,36 en 2004 a 2,33 en 2006.
Hong Kong, la economía más libre del mundo
El estudio alaba la política económica del gobierno del Partido Popular: "muchos años de crecimiento rápido, caracterizados por la creación de empleo, reformas estructurales y una política fiscal sólida constituyen buena parte del legado del ex Primer Ministro español, José María Aznar. Durante el Gobierno de Aznar, la economía de España creció a una tasa anual promedio del 3,6 por ciento entre 1996 y 2003, mientras que el desempleo se redujo a la mitad, del 22 por ciento hasta cerca del 11 por ciento."
Sin embargo, "el nuevo Gobierno socialista no ha deshecho los logros de Aznar. En cambio, se centró en tratar con la región vasca, en la reforma social y en reorientar la política exterior de España en una dirección más pro-francesa y pro-germana".
El aspecto peor valorado en España es el de carga fiscal, que recibe una puntuación de 4,3. La mayoría de los aspectos considerados reciben puntuación de 2,0.
Finalmente, y como en tantos otros estudios sobre la economía española, se destacan las rigideces del mercado laboral: "Un área clave que necesita reforma es el mercado laboral, que de acuerdo con la Organización para la Cooperación y el Desarrollo Económicos (OCDE) es conocido por diferenciar marcadamente los trabajadores permanentes, que disfrutan de enormes beneficios, de los trabajadores temporales, que tienen poca estabilidad en el empleo".
Latinoamérica: Chile, una vez más, el líder destacado
En Latinoamérica no hay sorpresas: el primer puesto en cuanto a libertad económica lo ocupa Chile, el país que invariablemente ocupa la posición más favorable en la zona en todos los estudios económicos (sobre competitividad, corrupción, etc.) que se realizan.
El segundo puesto en Latinoamérica lo ocupa El Salvador, seguido de Costa Rica.
México figura en el puesto 60, con una tendencia a mejorar en los últimos años. Brasil figura en el puesto 81, registrando una sensible mejora en esta última edición (su puntuación global es de 3,08, frente a 3,20 en la edición de 2005). Según la fundación Heritage, por tanto, el gobierno de Lula no se ha traducido en un empeoramiento del grado de libertad económica, sino al contrario.
Argentina y Venezuela, sin embargo, ocupan puestos muy atrasados, y con una clara tendencia regresiva. Argentina figura en el puesto 107. Su puntuación cae de 2,28 en el año 2000 a 3,30 en 2006.
Venezuela, por su parte, ocupa uno de los últimos puestos de la tabla, el 152. Su puntuación ha pasado de 3,38 en el año 2000 a 4,16 en 2006.
Cuba ocupa también uno de los últimos puestos, el 150, pero su puntuación mejora en los últimos años.

Curso online sobre Negocios con China
Cerca de 20 alumnos ya siguen el curso online sobre Negocios con China, que Iberglobal ha lanzado en colaboración con China Consultants.
Planteado con una orientación práctica, y con un calendario abierto (se puede comenzar en cualquier momento, y el alumno lo realiza al ritmo que estima más oportuno), el curso ofrece las claves para trabajar en el mercado chino. Además, el curso ofrece una extensa documentación de gran utilidad, y la posibilidad de consultas con especialistas en este mercado. Más...

GLOBAL TEST MARKET

Another good PBS documentary...

2005-12-31T01:49:00.000-08:00

This is a good summary of what was, became and is right now... PBS seems to be an unbiased source of information, so I give them credit for the story...

Episode 1
A global economy, energized by technological change and unprecedented flows of people and money, collapses in the wake of a terrorist attack .... The year is 1914.

Episode 2
As the 1980s begin and the Cold War grinds on, the existing world order appears firmly in place. Yet beneath the surface powerful currents are carving away at the economic foundations.

Episode 3
With communism discredited, more and more nations harness their fortunes to the global free-market. China, Southeast Asia, India, Eastern Europe, and Latin America all compete to attract the developed world's investment capital, and tariff barriers fall. In the United States Republican and Democratic administrations both embrace unfettered globalization over the objections of organized labor.

read the rest of the Episodes here

Technorati tags: economics,history,trends,PBS

Seven Ways to Get Holiday Happiness With Less Money

2005-12-08T01:27:00.000-08:00

Seven Ways to Get Holiday Happiness With Less Money

By Jay MacDonald
Bankrate.com

OK, despite your best intentions, you never quite got around to saving for the holidays, and now that the festivities are approaching, you're not exactly flush with cash.

Cheer up! With a little creativity, you can still save your holidays. Who knows, you might even have a warmer, closer gathering with family and friends without the credit card hangover that comes from holiday overspending.

The federal government's Citizen Information Center in Pueblo, Colo., has a bunch of ideas, and using them as a stepping-off point it's possible to find a number of ways to have all the fun you want this holiday season without going broke.

Here are some methods you can choose to use to save your holidays:

* The 'card-n-all' rule: If your liquidity has only temporarily dried up, you may still have time to buy now and pay later. Depending on how much time you think you'll need to acquire the money you expect to spend, you might check into low introductory APR credit cards that offer zero percent for three to six months. Pay it off, cancel the card, ho ho ho. If you need less cushion, say a month or so, check the closing date on your last credit card statement. Let's say it closes on the 20th of the month. Window-shop for your presents now or even put them on layaway until after Dec. 20, then charge them. You won't receive the bill until February.

* The payday shopper: Organize your shopping list, then buy only one gift per pay period. You'll hardly miss the money, and you'll be less likely to succumb to overbuying at the mall.

* The man in the moon: Go moonlighting. That's right, take a second job or an extra shift at work. There's still time to earn extra money for those holiday gifts.

* The my mouse to your house: Let your fingers do your shopping. You're more likely to purchase meaningful presents and less likely to fall victim to capricious holi-daze spending.

* The bag lady: Kids, bless them, have not been brainwashed into believing that the only fit gift is one that comes sealed in industrial packaging. Perfectly good new and nearly new toys, games, clothing and cool stuff abound at garage and yard sales, at your budget, without sales tax.

* The who knew: Used CDs make great gifts for the whole family and fill the house with a joyful noise. You'll get two to three discs for the cost of one at the mall.

* The pretty as my picture: Don't blow your time and money shopping for individual gifts for everyone; give each of them the one gift that only you can give: a photo of yourself. For under $50 and a few smiles, you can delight far-flung aunts and uncles with how well your orthodontia turned out.

Unthink Your Old Traditional Ways
By taking these tips, maybe you'll scrimp by this holiday season. But what about next year, and the year after that? If it's rampant holiday commercialism that's got you down, maybe you need to start a few new family traditions, ones that won't leave you cash-poor the rest of the year.

Technorati tags: holidays,thirdage,ideas,economics

Holiday shopping ideas...

2005-12-05T22:31:00.000-08:00

This article came to me in a newsletter I am subscribed to:
* Self Improvement and Personal Growth Weekly Newsletter * Issue # 378
Week of December 6-7, 2005
Publisher: David Riklan - http://www.SelfGrowth.com

----------------------------------------------------
*** Article: The Most Important Gifts of All – By Pauline Wallin, Ph.D.
***----------------------------------------------------

In This Season of Gift-Buying, Don't Ignore The Most Important Gifts of
All.
In this season of holiday gift buying, advertisers bombard us with
messages, some of them contradictory. One ad tells us that the best way
for men to show love is to spend three months' salary on a piece of
diamond jewelry. On the other hand, MasterCard commercials remind us that
there are some things ("Priceless" moments) that monëy can't buy.
"Oh, that's a sweet sentiment," you might say, "but can it really
substitute for the latest video game or hot toy?" Very few children raised
in this materialistic culture would say, "Gee mom, thanks for making my
favorite meal. What a great Christmas gift!"
Yet 20 years from nöw, these same children probably won't remember the
items they got for the current Christmas. They will, however, recall the
special games that their family played together, the time that their older
brother took them to a movie, or the way their parents tucked them in at
night.
These are the little moments, which over time, have a huge impact.
Unfortunately people tend to take them for granted. With so much emphasis
on holiday shopping, and on buying the perfect gift, we can losë sight of
the importance of the less flashy, but "priceless" gifts: gifts such as
thoughtfulness and gratitude that we can give to one another all year
round. A diamond may be forever, but its value is nothing compared to a
lïfetime of moments that monëy can't buy.
I'm not suggesting that you forego the presents this holiday season, but
don't worry so much about how "perfect" they are. Go ahead and buy some
gifts, but more importantly, resolve to focus your energy on helping
others feel valued and appreciated. They will remember your acts of
thoughtfulness and compassion long after the material gifts are gone.
Hëre are some examples of small gestures that can help people around you
feel valued:
1. Show your appreciation with a thank-you, a smile or a hug (or all
three). It takes just a moment, but it can make a person's day.
2. Practice a random act of kindness every day. Make this your "gift" to a
stranger. For example, let someone in front of you in line. Hold a door
open for someone. Smile and greet people you pass at work. These acts take
only a few seconds or less, yet they create a mood that can last for
hours.
3. Call up someone you haven't spoken to in a while, just to catch up on
how they are. You've probably been meaning to do this for a long time. Nöw
is a good time.
4. If you have children, give one child at a time your full attention for
an afternoon: Go for a walk; go to the library; or just sit and read or
draw together. The activity itself isn't as important as sharing time and
interacting together. Going to a movie or watching a video doesn't count.
5. Write a note of appreciation to someone who is important to you. Don't
be surprised if that person keeps the note for years to come.
6. Think of the way you'd like to be remembered by those around you, and
give of yourself accordingly throughout the year. The added benefit for
you is that you'll be in a more positive frame of mind overall.

About the Author:
Pauline Wallin, Ph.D. is a psychologist in Camp Hill, PA, and author of
"Taming Your Inner Brat: A Guide for Transforming Self-defeating Behavior"
(Beyond Words Publishing, 2001).

Visit http://www.innerbrat.com for more information, and subscribe to her
frëe, monthly Inner Brat Newsletter.

Technorati tags: holidays,gifts,ideas,marketing

Geese, Golden Eggs, and Traps

2005-11-28T15:25:00.000-08:00

Geese, Golden Eggs, and Traps: "

'Despite the widespread belief that the U.S. remains a more mobile society than Europe, economists and sociologists say that in recent decades the typical child starting out in poverty in continental Europe (or in Canada) has had a better chance at prosperity.' -- David Wessel, Wall Street Journal

An Issue Discovered

Inequality Makes the Mainstream

By John Mark Summers

WHEN the Wall Street Journal, the Los Angeles Times, and the New York Times publish multi-part series on the same subject, something must be afoot.

And no, we’re not talking about runaway brides or the latest strange turn in reality TV. What has engaged the attention of three of America's most respected daily newspapers (though each looks at the problem from its own angle) is the growing concentration of wealth and income in the United States."

read on...

Philosophy of Economics

2005-11-26T11:46:00.000-08:00

Philosophy of Economics

“Philosophy of Economics” consists of inquiries concerning (a) rational choice, (b) the appraisal of economic outcomes, institutions and processes, and (c) the ontology of economic phenomena and the possibilities of acquiring knowledge of them. Although these inquiries overlap in many ways, it is useful to divide philosophy of economics in this way into three subject matters which can be regarded respectively as branches of action theory, ethics (or normative social and political philosophy), and philosophy of science. Economic theories of rationality, welfare, and social choice defend substantive philosophical theses often informed by relevant philosophical literature and of evident interest to those interested in action theory, philosophical psychology, and social and political philosophy. Economics is of particular interest to those interested in epistemology and philosophy of science both because of its detailed peculiarities and because it possesses many of the overt features of the natural sciences, while its object consists of social phenomena.

I started a Forum not too long ago about Philosophical issues and matters related. This is a great resource that emcompasses both my inquisitive desire for knowledge of Economics as a Behavioral Science and of Philosophy, a way of learning about matters of life and of the mind...

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Organisation for Economic Co-operation and Development

2005-11-26T04:25:00.000-08:00

About OECD
The OECD groups 30 member countries sharing a commitment to democratic government and the market economy. With active relationships with some 70 other countries, NGOs and civil society, it has a global reach. Best known for its publications and its statistics, its work covers economic and social issues from macroeconomics, to trade, education, development and science and innovation.

The OECD plays a prominent role in fostering good governance in the public service and in corporate activity. It helps governments to ensure the responsiveness of key economic areas with sectoral monitoring. By deciphering emerging issues and identifying policies that work, it helps policy-makers adopt strategic orientations. It is well known for its individual country surveys and reviews."

Technorati tags: economic cooperation,development,basics,news

Economics - The A to Z List

2005-11-25T12:05:00.000-08:00

A great resource from About.com regarding Economics...

Economics - The A to Z List: "
Search
Economics
Economics Economics - The A to Z List
Economics at About.com

Economics - From A to Z:
Instructions: Use this list just as you would the index in the back of a book. If you click on one of the letters such as 'B' or 'F', you will be taken to a list of definitions of words that begin with that letter. There are currently over 400 words in the Economic Glossary. The links beside each bullet point will take you to a resource on that topic. So 'Money, Value of' will take you to an article detailing where money gets its value."

more...

Technorati tags: economics,index,help,about.com

Retailers usher in holidays with deep discounts

2005-11-25T05:28:00.000-08:00

Retailers usher in holidays with deep discounts

Shoppers begin heading to stores across the country on ‘Black Friday’

Updated: 7:27 a.m. ET Nov. 25, 2005

NEW YORK - Bargain shoppers woke up before dawn to head to the nation’s malls and stores Friday, the official start of the holiday shopping season, hoping to snap up early bird specials on items, from toys to digital music players.

In an improving but still challenging economy, merchants are hoping for big crowds to set a positive tone for the entire holiday season.

read on...

I ask myself, what are the root causes of a "challenging" economy...I could come up with a miriad of speculative thoughts, as an economist, and still not hit the nail in the head. I know there are other economists out there, smarter, brighter, wealthier and better educated than I am asking themselves the same question...

As a behavioral science, Economics will never, in my estimate, be able to catch up with what the term full employment economies "should be" all about. Statistically, yes, we can achieve full employment provided we set the standard ourselvese: 4 percent, 5 percent unemployment rate, or what have you...

SOMETHING IS STILL MISSING... But what is it? How do we bridge the gap?

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8 Rules For Good Customer Service

2005-11-24T21:18:00.000-08:00

I just had to blog this. These simple rules from Susan will not only let you go a long ways in business, but life in general...

8 Rules for Good Customer Service

Your Guide, Susan Ward From Susan Ward,
Your Guide to Small Business: Canada.

Good Customer Service Made Simple

Good customer service is the lifeblood of any business. You can offer promotions and slash prices to bring in as many new customers as you want, but unless you can get some of those customers to come back, your business won’t be profitable for long.
Good customer service is all about bringing customers back. And about sending them away happy – happy enough to pass positive feedback about your business along to others, who may then try the product or service you offer for themselves and in their turn become repeat customers.
If you’re a good salesperson, you can sell anything to anyone once. But it will be your approach to customer service that determines whether or not you’ll ever be able to sell that person anything else. The essence of good customer service is forming a relationship with customers – a relationship that that individual customer feels that he would like to pursue.
How do you go about forming such a relationship? By remembering the one true secret of good customer service and acting accordingly; “You will be judged by what you do, not what you say.”

1) Answer your phone.
Get call forwarding. Or an answering service. Hire staff if you need to. But make sure that someone is picking up the phone when someone calls your business. (Notice I say “someone”. People who call want to talk to a live person, not a “fake recorded robot”.) For more on answering the phone, see Phone Answering Tips to Win Business.
2) Don’t make promises unless you WILL keep them.
Not plan to keep them. Will keep them. Reliability is one of the keys to any good relationship, and good customer service is no exception. If you say, “Your new bedroom furniture will be delivered on Tuesday”, make sure it is delivered on Tuesday. Otherwise, don’t say it. The same rule applies to client appointments, deadlines, etc.. Think before you give any promise – because nothing annoys customers more than a broken one.
3) Listen to your customers.
Is there anything more exasperating than telling someone what you want or what your problem is and then discovering that that person hasn’t been paying attention and needs to have it explained again? From a customer’s point of view, I doubt it. Can the sales pitches and the product babble. Let your customer talk and show him that you are listening by making the appropriate responses, such as suggesting how to solve the problem.
4) Deal with complaints.
No one likes hearing complaints, and many of us have developed a reflex shrug, saying, “You can’t please all the people all the time”. Maybe not, but if you give the complaint your attention, you may be able to please this one person this one time - and position your business to reap the benefits of good customer service.
5) Be helpful - even if there’s no immediate profit in it.
The other day I popped into a local watch shop because I had lost the small piece that clips the pieces of my watch band together. When I explained the problem, the proprietor said that he thought he might have one lying around. He found it, attached it to my watch band – and charged me nothing! Where do you think I’ll go when I need a new watch band or even a new watch? And how many people do you think I’ve told this story to?
6) Train your staff (if you have any) to be ALWAYS helpful, courteous, and knowledgeable.
Do it yourself or hire someone to train them. Talk to them about good customer service and what it is (and isn’t) regularly. Most importantly, give every member of your staff enough information and power to make those small customer-pleasing decisions, so he never has to say, “I don’t know, but so-and-so will be back at...”
7) Take the extra step.
For instance, if someone walks into your store and asks you to help them find something, don’t just say, “It’s in Aisle 3.” Lead the customer to the item. Better yet, wait and see if he has questions about it, or further needs. Whatever the extra step may be, if you want to provide good customer service, take it. They may not say so to you, but people notice when people make an extra effort and will tell other people.
8) Throw in something extra.
Whether it’s a coupon for a future discount, additional information on how to use the product, or a genuine smile, people love to get more than they thought they were getting. And don’t think that a gesture has to be large to be effective. The local art framer that we use attaches a package of picture hangers to every picture he frames. A small thing, but so appreciated.
If you apply these eight simple rules consistently, your business will become known for its good customer service. And the best part? The irony of good customer service is that over time it will bring in more new customers than promotions and price slashing ever did

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Identity theft Unresolved with Yahoo!

2005-11-22T05:58:00.000-08:00

11/16/05

And I will not rest quietly until it gets solved.
A long time ago, I opened up a group thru Yahoo groups. Time went by (a few weeks or months perhaps) then, eventually I stopped posting for a while. When I came4 back to the site, I was not able to log in.
I went to their help site to find assistance, and then decided to finally give in and change my password.
Well after 4 times or so of giving them via their "unable to sign in" protocol my name, yahoo email address, and my mother's maiden name I gave up as the site repeatedly told me my mother's maiden name was the incortrect response for me to be able to log in.....
I left the issue to rest for a while, and tried again online. No success.
I gave them a call finally, as there is no email addresses to contact and no "real" people behind the sites. The person on the other side of the phone would not accept my basic information either and told me that my mother's maiden name was not the right one I had given!...
I the mean time, there is a new member, possibly two that have signed in to the group and have posted spam that has been there for the last year or more. I tried calling the company yesterday as well, to no avail. A series of recorded messages, but no real humans behind the scene.
I emailed one of their departments yesterday to no avail either.
So, I guess that my next campaign in life is to pursue my case until someone or anyone at the company decides to collaborate with my restoring my stolen identity and be given full rightful access to my group.
If you feel and believe that posting this in different places will assist me in my pursuits, please drop me a line at edfern34@hotmail.com
I will see that your efforts in assisting me with this issue get rewarded.
Thanks!

Godsdragon

UPDATE 11/22/05
I contacted the Company again. Have not heard from them.
They sent a survey, I filled it in with my thoughts and oppinions indicating there is a problem, but I guess they really do not care...

UPDATE 12/02/05
Have not heard from Yahoo as of yet...Could it be that it is not just me that gets the end of the stick here? I found this article today that could explain very well why Yahoo does not care about someone like me:
http://news.yahoo.com/s/afp/20051201/wl_afp/
iraq_051201185052;_ylt=Anz0pmdMejGb9ny9f_mZQMCs0NUE;
_ylu=X3oDMTA3b2NibDltBHNlYwM3MTY-

Technorati tags: identity theft,customer,Yahoo!,action

Immigrant Resource Center in a Bind

2005-11-17T18:03:00.000-08:00

Immigrant Resource Center in a Bind http://www.knowledgeplex.org/news/127223.html
Saundra Amrhein
St. Petersburg Times (Florida)
November 11, 2005
Copyright 2005 Times Publishing Company

A school that offers free English classes to adults might shut down if it can’t come up with the money to apply for a zoning change.
SEFFNER - In their countries, they were dentists and business people.
But here in this breezy yellow brick house off Parsons Avenue, they are students seeking a path out of manual labor.
At the Multicultural Resource Center, more than two dozen adult immigrant students gather four mornings a week to study English in a house turned into a language school and computer lab.
Another 80 are on a waiting list.
But the popular school, which was started in the late ‘90s, might be shut down next month unless directors come up with $3,500 to apply for a zoning change. The county sought the change after a neighbor complained.
For many with night jobs or schoolage children to care for, the free morning classes are like a salvation.
“My daughter is studying in school, and how can I help her?” asked Carmen Moncayo, 45, originally of Peru. Her daughter is 9. “How can I help her if I don’t know English?”
Seated next to her, 62-year-old Elsa Icaza, a dentist in her native country of Ecuador, can’t return to her profession until she learns English. She cares for her two grandchildren in the afternoons and evenings.
“If it weren’t for this (morning) class,” she said, “I couldn’t study.

:read more…

See more progress on: know God more

Need a hand or two?

2005-11-16T23:49:00.000-08:00

It comes a time when things get kicked around a bit, and reevaluation follows. This post's aim is to let you know that I am ready willing and able to engage in practical and income generating ventures. If you like what you have read over the months here at Economics made simple and feel you could use my experiences, knowledge or just need an extra hand to handle whatever it is you or your company is in need of, drop me a line and let me know how I can help.
I can provide references, a resume or whatever complementary information you might need from me to engage in a fruitful and productive win-win relationship.
Thanks for reading.

Technorati tags: work,errands,jobs,win-win

Marginal Revolution: Gratitude Journals and Loewenstein's Challenge

2005-11-13T22:29:00.000-08:00

Marginal Revolution: Gratitude Journals and Loewenstein's Challenge: "Gratitude Journals and Loewenstein's Challenge

Background: George Loewenstein is one of the leading figures in Economics and Psychology.

While walking in Pittsburgh one afternoon, Loewenstein tells me that he doesn't see how anybody could study happiness and not find himself leaning left politically; the data make it all too clear that boosting the living standards of those already comfortable, such as through lower taxes, does little to improve their levels of well-being, whereas raising the living standards of the impoverished makes an enormous difference. (full story)"

WebEc - WWW Resources in Economics - Framed

2005-11-08T18:21:00.000-08:00

Another great resources site while Stumbling Upon...

WebEc - WWW Resources in Economics - Framed

Valuable and Priceless...

2005-11-07T14:19:00.000-08:00

I was thinking about what could I possibly say of my own, at this my "Economics Made Simple" blog.
I thought and I thought and it did not take long before I came up with the idea that it is time to give credit, where credit is due.
First of all, if it would not have been for Blogger.com, I would not have been able to create not only this, but other few blogs I have expressed myself with.
The first one in the list is "Life and Living For Real". It is a blog basically about my thoughts, but it is also a blog to allow you, the reader to perhaps grab onto a post that you can relate with and perhaps help make your life a little better as a result of having come across it. I know, you say, but you just want to benefit your ego and yourself by writing about you. And my answer is, well, maybe that is the case, it was not my intention to create more value for my own ego than the intention of having you relate to my issues and causes and thereby make a friend or two in the process. Well, you could be right. I am selfish, selfcentered, and I want what I want when I want it. But my motives were not too different than the average blog writer. Please correct me if I am wrong... And, with what I have been reading lately, I hope I can move in the direction of focusing more on you, the reader.
Anyway, there are other blogs in the roster of blogger.com: Internet for People like Us, Asi es La Vida, Links for all, and my 2 newest ones: B+, which is a team blog, and Beach Blog.
I am grateful to Blogger.com, again and again, for allowing me to have been able to speak my mind so that not only I but you, the reader perhaps benefits from something I have posted, said in my own words or came across that has made an impact in my life and lifestyle. Of course, there are numerous other sites thatI have found worthy of my including them on each and everyone of those sites. All the sites are is not only the result of my thinking, but of th ethinking of numerous people to whom I have given, and still give them credit for where I am at in mind and spirit.
There is definitely a therapeutic value to writing and journaling, but that value is increased tenfold when I focus my efforts on your needs and wants.
I will be talking more about other sites and valuable insights I have gained as a result of the weblogging trends I have followed for the past few months...
Thank you for reading.

Technorati tags: blogs,gratitude,value,blogger.com

EconSources! - Economics: Principles and Practices

2005-10-29T14:24:00.000-07:00

A really useful resource if you want to learn the basics of Economic thinking...

HERE!

Interesting news!

2005-10-25T02:53:00.000-07:00

This is the worth of my MSN blog folks...

My blog is worth $14,678.04.
How much is your blog worth?

Technorati tags: technorati,MSN blog,how much?,value

Parts of America are as Poor as Third World

2005-10-13T22:28:00.000-07:00

One of the places I Stumble Upon, has a variety of interesting and exotic as well as informative sites to look at and read. Here is an article I found at mr-infomaniac's weblog regarding a report that came out from the UN.
It is no longer news I think for those of us that live here, but perhaps it could be for some that might not be quit in touch with reality.
I can relate to denial for I grew up in an environment were denial was, and still is a way of life...

Friday, September 30, 2005
UN Hits Back at US in Report Saying Parts of America are as Poor as Third World
Published on Thursday, September 8, 2005 by the lndependent/UK
UN Hits Back at US in Report Saying Parts of America are as Poor as Third World
by Paul Vallely
Parts of the United States are as poor as the Third World, according to a shocking United Nations report on global inequality.
Claims that the New Orleans floods have laid bare a growing racial and economic divide in the US have, until now, been rejected by the American political establishment as emotional rhetoric. But yesterday's UN report provides statistical proof that for many - well beyond those affected by the aftermath of Hurricane Katrina - the great American Dream is an ongoing nightmare.

Tags: poverty,UN report,New Orleans,American Dream

The Economics of blogging 2 of 2

2005-10-11T01:50:00.000-07:00

Then, on the legal side, there are already a few people blogging about the fact that eventually, blogging will have legal ramifications, specially for those that do not adhere to rules of common sense. The idea is that there is the issues of copywright when it comes to posting information, but at this point in time it is probably too early in the game to be able to devise a method whereby these issues can be addressed.

Copyfight
« Court Stops Payment on Hollywood Royalty Check
April 12, 2005
Blink ›
The Law and Economics of Blogging

Lawrence Solum says that this paper by Larry Ribstein is a must-read for bloggers: "Building on blogs' technical features, it identifies the unique aspects of blogs that should have legal ramifications. It then briefly applies this framework to a variety of legal issues."

Bottom line? Work hard, and give credit were credit is due. Then wait...

The Economics of Blogging-- 1 of 2

2005-10-11T01:47:00.000-07:00

Here is a series of articles on the economics of blogging. Basically, how feasible is it for companies and individuals to blog? Is there an incentive to blogging? Is this a trend or a fad? Is it going to be possible to generate a significant amount of revenue as a result of blogging? Is there going to be enough money left for the rest of us trying to get a slice of the economic pie?
These are some of the questions I will attempt to address in the next few posts...
Stay tuned!

Corante.com

...Everyone who follows blogging wonders about the economic model. Do bloggers need to be paid in order for blogging to be sustainable? If so, then who will pay them?

In the simple circular model that I sketched, the blogging system as a whole has value. However, no individual blog is the source of that value. I believe that this collective nature of the benefit of the blogging system is what makes it particularly difficult for an individualized economic model to be successful. Thus, I believe that neither the donation model nor the advertising model will prove to be viable (there may be some transitory exceptions). Instead, I think that payment mechanisms that reward collections of bloggers hold more promise for the long run:
Corporations, nonprofits, and government may come to expect their employees to maintain blogs as part of their jobs. Some of these blogs may be made available externally as well as internally.
Traditional news organizations may pay for a network of bloggers to help in the news filtering process, although blogging will not replace all of the other forms of communication and entertainment in the news media.
Some organizations may use paid bloggers to replace some of their publications. For example, the American Contract Bridge League could give its members access to professional blogs, rather than mailing out a print publication. For that matter, the American Economics Association could do the same.
Conclusion
I sketched a model of blogs in which blogging serves as a filtering mechanism in the dissemination of information. The model is built on assumptions that make blogging very efficient. To the extent that those assumptions mirror reality, then blogging is not a fad. On the contrary, it could have a lot more potential for growth.

goldensky: Internet as a tool for the poor

2005-10-04T11:13:00.000-07:00

I really enjoyed comming accross anandsharma's views on life, living, and ... Economics. It reminded me of a book I read in my college days, written by EF Schmacher, called Small is Beautiful...
Anyway, here is part of anandsharma's great posts

goldensky: Internet as a tool for the poor: "Internet as a tool for the poor
I often think that internet has a great potential to understand the world,especially in the hands of the poor.One important aspect of development is to find ways and means by which we can make internet services cheaper and more accessible.

posted by anandsharma at 5:43 PM"

Small Business Trends

2005-10-03T23:51:00.000-07:00

I ran into a Small Business Trends Blog and found it to have a multitude of good information, trends and links all in relationship with Entrepeneurs and entrepeneurship and I thought it would be appropiate for me to mention the site here...

Small Business Trends: "Rise of the Entrepreneurial Class

John Koten, Editor in Chief of Inc magazine, recently spoke about the 'rise of the entrepreneurial class' at a talk I attended at the Cleveland City Club.

He called it one of two key factors in our economy today. A wide range of people today see themselves as entrepreneurs, he says -- everyone from Martha Stewart to Snoop Dog to college kids to retiring Baby Boomers. In his words, 'entrepreneurship is a huge underexpressed force' today, even in large companies.

What's more, people have a desire to be creative in business. That's the other key factor in the economy, he says: the rise of the creative class. People today desire to express themselves, often through art. And artists realize that by integrating business principles with their art, that they can further their art."

read more...

Economics Made Simple

2005-09-30T21:05:00.000-07:00

Economics Made Simple

Feudalism
You have 2 cows. Your lord takes some of the milk.
Socialism
You have 2 cows. The govenment takes them and puts them in a barn with everyone else's cows. They are cared for by ex-chicken farmers. You have to take care of the chickens the government took from the chicken farmers. The government gives you as much milk and eggs the regulations say you should need.
Russian Communism
You have 2 cows. You have to take care of them, but the government takes all the milk.
Cambodian Communism
You have 2 cows. The government takes both and shoots you.
Bureaucracy
You have 2 cows. At first the government regulates what you can feed them and when you can milk them. Then it pays you not to milk them. Then it takes both, shoots one, milks the other and pours the milk down the drain. Then it requires you to fill out forms accounting for the missing cows.
Capitalism
You have 2 cows. You sell one and buy a bull.
Surrealism
You have 2 giraffes. The government requires you to take harmonica lessons.

Up to Jelks' Home Page

Economics Made Simple

Spanish speaking bloggers blogging in English

2005-09-19T16:02:00.000-07:00

Sounds like somebody is finally thinking... What a world of opportunities would a chap like me bring to you and your business, were you to consider the posibilities of my linking you to thousand other Spanish speaking folks like me?

I found the post below at one of the best blogging scenes on the planet:
Boing Boing

Spanish-speaking bloggers blogging in English: an aggregator
Blogger and communications professor Jose Luis Orihuela in Pamplona, Spain says: "Thanks to Víctor Ruiz, an idea that's been around for a long time -- an RSS aggregator for feeds of English-language blogs from Spanish-speaking bloggers -- has finally launched. A beta version is available here: Link." There's more background (in Spanish) in this post on Jose Luis' blog: Link

posted by Xeni Jardin

Technorati tags: blog,
weblog,
search,
directory,
community,
web directory,
web search,
search engine,
boing boing,
mark frauenfelder,
cory doctorow,
godsdragon,
david pescovitz,
xeni jardin,
john battelle,
pop culture.

worldometers.info

2005-09-18T03:22:00.000-07:00

Some quite interseting facts about the world we live in...

worldometers.info

The data is somewhat correct for 2003-2004 years and most of the times for 2005 too.
• Requires JavaScript
• Uses your computer's clock, so if you are curious how much we will have HIV-infected in 2050 then just change your system time to 2050. Please note that it will just calculate values based on current statistics.
• Please note that we're unable to "track" recent events like earthquake or war fatalities, since there are no available to public statistic about such events.
• There are known compatibility issues with some browsers, like Konqueror or Safari. Please use IE, Opera, Mozilla or Firefox if you see some weird or negative counters (for example ~2 billions in current population, while ~6 billions is correct). Sorry for the inconvenience, but there's no way to fix it at this time.
• Do not use for exact calculations.

Lessons for Geeks and Nerds and Us...

2005-09-13T00:41:00.000-07:00

Maybe we all can learn what is being done right in India that is taking the bread and butter away from American workers, instead of winning and complainning about outsourcing, and pointing the finger somewhere...Oops! not these emotional words from an Economist...
It would be interesting to have a few geeks here and there, put together with the few Economics geeks and nerds to figure it all out!...
The first things I noticed are:
Partying has to be out. For good...I think that is what the post tastes to me...
Another thing was that those guys really worked together to have a blog like that!
Anyway, just my two cents...(before taxes and before indexing inflation into them)

The Indian Economy Blog

I Want To Rock & Roll All Night..
September 12th, 2005 by Prashant Kothari
And write code every day?!

The computer programmers arrived in the United States unknown to each other but united in their quest to rock.

On the surface, they were not unlike many others who have left India over the past decade on the H-1B visa, a guest worker program for highly skilled professionals. They wore glasses and mustaches and collared shirts. They could exterminate Y2K bugs and code Java and link Unix.

But as they toiled in cubicles, they dreamed of banging on keyboards of a different sort, of a world where C-sharp is just a musical note, not computer code.

Bush allows Katrina contractors to pay below prevailing wage - Sep. 11, 2005

2005-09-11T22:03:00.000-07:00

I have not blogged much of anything really worth mentioning lately in view of the latest tragedy our country suffered as a result of Hurricane Katrina. So here is some pertinent economic news and actions that President Bush is taking to handle the issue... Fiscal policy versus Monetary policy are the root topics regarding these actions.

Bush allows Katrina contractors to pay below prevailing wage - Sep. 11, 2005: "Bush lifts wage rules for Katrina
President signs executive order allowing contractors to pay below prevailing wage in affected areas.
September 11, 2005: 11:59 AM EDT
Video: More video
President Bush suspends part of the law protecting wages paid by federal contractors in rebuilding effort. CNN's Lisa Sylvester reports.
Play video

WASHINGTON (Reuters) - President Bush issued an executive order Thursday allowing federal contractors rebuilding in the aftermath of Hurricane Katrina to pay below the prevailing wage."

read more...

Technorati tags: Katrina,President,economics,fiscal policy

Quote Details: John Kenneth Galbraith: Under capitalism, man exploits... - The Quotations Page

2005-09-11T21:23:00.000-07:00

Under capitalism, man exploits man. Under communism, it's just the opposite.
John Kenneth Galbraith
US (Canadian-born) administrator & economist (1908 - )

LatinFocus - The Leading Source for Latin American Economies

2005-09-05T03:49:00.000-07:00

Publication Overview
The LatinFocus Consensus Forecast is the most dependable source of economic analysis available for Latin America. Within a single publication you get the essence of research conducted by the world’s leading economists. This monthly country-specific and regional publication gives you a precise picture of the current state of affairs and the future developments in the seven largest markets in Latin America (Argentina, Brazil, Chile, Colombia, Mexico, Peru and Venezuela) plus a snapshot of four smaller economies (Bolivia, Ecuador, Paraguay and Uruguay). Our Latin America forecast summary places developments of the regional economy and individual economies in a broader international context, offering a consensus forecast for all of the major world regions, including the United States, the European Union, Japan and Developing Asia for comparative purposes.

read the rest of the article...

MSN Hotmail - Message

2005-08-31T01:29:00.000-07:00

Please respond to this plea if you can. God only knows they need the help!

Greetings Ed,

My heart goes out to everyone affected by the
devastation inflicted by Hurricane Katrina.

The Mayor of Biloxi was quoted as saying:
'This is our Tsunami' ... and by the images
I've seen on CNN, it looks eerily similar.

With estimates of almost a million people left
homeless, it's up to those more fortunate to do our
best for them now, and in the future.

We can do that by continuing to build our businesses,
and making ever larger charitable donations.

Do it now, please.

https://www.redcross.org/donate/donation-form.asp
Also, EmpowerMe!Online will be contributing 10% of all
sales revenue to the Red Cross in their relief efforts.
We now have 15 seminars to offer you.

Please check them out on our website.

http://www.empowermeonline.com

Best regards,

David Matthies
EmpowerMe!Online"

Profile of Small Business Online Behavior

2005-08-29T02:21:00.000-07:00

Fortune magazine has created a profile of small business, based on its own Zogby/Fortune Small Business survey of 2000 entrepreneurs, as well as other published surveys.

read the rest of the article...

This is a very interesting article, at least in my book...

The Cost of Fighting Terrorism

2005-08-17T16:44:00.000-07:00

Now, this in a series of four, will then conclude the brief review as to what is involved in fighting terrorism, its possible causes as explained with the aid of Economic theory, and some of the reasoning behind the whole topic as it pertains to Economics. You, the reader then can draw a more informed perspective on the whole issue. Please do not hesitate to drop a line or two if you deem it appropiate.
Thank you.

Again, this article is dated back to the time shortly after 9/11 tragic events.
The Cost of Fighting Terrorism

FROM BUSINESS WEEK ONLINE
The Cost of Fighting Terrorism

So far, the tab hasn't been as great as many feared. But if conflict deepens, big sacrifices may have to be made

In the aftermath of September 11, most economists were sure the short-run impact would be to drive the U.S. deeper into recession. Goldman, Sachs & Co. predicted that gross domestic product would plunge by a steep 2.5% in the fourth quarter of 2001. Merrill Lynch & Co.'s economists had the recession lasting into first quarter 2002. And in December, 2001, the Organization for Economic Cooperation & Development projected that the U.S. would show negative growth for the entire first half of 2002.
read the rest of the article...

Technorati tags: terrorism explained,economic thought,current events,why fight, government

CIAO Case Study: Economics of Terrorism

2005-08-17T16:04:00.000-07:00

This is a well written case study by Prof. Gold of the Graduate Program in International Affairs at the New School University. By far, it is the least biased of the posts on the subject matter. I guess Professor Gold did earn his Masters degree after all.

CIAO Case Study: Economics of Terrorism:
David Gold
Professor of Economics
Graduate Program in International Affairs
New School University
Introduction
Terrorism has multiple roots and multiple effects. Economic considerations come into play at both ends, but it has been difficult for scholars and policy makers to reach a consensus on what role economics plays in causing terrorism, and how economic considerations might be useful in understanding terrorism and in devising strategies and specific policies to counter terrorism. Much of the discussion about the links between economics and terrorism has revolved around how poverty, inequality, and limits on opportunity shape terrorist responses, and on how the alleviation of these conditions might reduce the incidence of terror. In addition, policy responses have increasingly emphasized such tools as economic sanctions on states that are supporters of terrorism and efforts to disrupt the financing channels of terrorist organizations."

Read the rest of the study (in PDF format)...

Technorati tags: terrorism explained,economic thought,current events,why fight, government

The Economics of Terrorism in a nutshell

2005-08-17T15:39:00.000-07:00

Now, this article is a result of Silviu Dochia's study, with excerpts from Harvard and GMU scholars. The comments on this post are brilliant and have a flavor for objective theory and subjective humanness...

Here is the page: The Economics of Terrorism in a nutshell

Technorati tags: terrorism explained,economic thought,current events,
why fight,government

Fighting Terrorism and the Case for Pre-emption by Walter Williams -- Capitalism Magazine

2005-08-17T15:02:00.000-07:00

Because of the state of world affairs, I am going to try to explain the Economics of Terrorism from as many different points of view as possible. I am solely trying to analyze Economic Theory from as an unbiased point of view as I possibly can. Any science that deals with human behavior has to deal with that degree of uncertainty that cannot be quantifiable and therefore escapes the rigorous results of scientific reasoning...

Fighting Terrorism and the Case for Pre-emption by Walter Williams -- Capitalism Magazine: "Fighting Terrorism and the Case for Pre-emption
by Walter Williams (April 8, 2004)

Summary: Fighting terrorism as well as rogue dictators requires a policy of pre-emption. During the 1930s, there should have been a pre-emptive strike on Nazi Germany. Had Britain and France had the guts to do that, 60 million lives lost in World War II might have been spared.

[www.CapMag.com] Merriam-Webster's dictionary defines magician as 'one who performs tricks of illusion and sleight of hand' and 'one skilled in magic,' a 'sorcerer.' That's an apt description for the parade of Democrats, leftists and peaceniks attacking President Bush on his efforts managing the war on terrorism. Millions of Americans have bought into the illusions created by Bush's critics in their attempt to unseat him in the fall election. Let's look at it. "

read more...

Technorati tags: terrorism explained,economic thought,current events,
why fight,government

How Americans Get Rich

2005-08-10T02:46:00.000-07:00

How Americans Get Rich: "How Americans Get Rich
The American Success Institute
In the United States, the goal of the average American is to own a home, and live a happy, prosperous, peaceful life. This is called 'The American Dream.' However, there is nothing uniquely American about this dream, since these are universal aspirations.

In the Master Success Courses, you will learn the styles and attitudes that guide Americans in pursuit of their goals: business, investment, security and personal development. By being a hard working, thinking person of action, you can succeed in your career whether you own your own business or work for someone else. By thinking in terms of welfare of others, you will bring more friendship, respect, appreciation and love into your life. When you combine this course knowledge with your study of the styles, attitudes and actions of successful people from your own country, plans, strategies and opportunities for your personal success will emerge."

How the World Sees the World

2005-08-08T20:29:00.000-07:00

First Ever Global Poll of How the World Sees the World
The Anholt-GMI Nation Brands Index is the first analytical ranking of the world's nation brands. Each quarter, the Index, led by nation brands expert Simon Anholt, polls consumers from the GMI worldwide five million-strong market research panel on their perceptions of the cultural, political, commercial and human assets, investment potential and tourist appeal of several countries. This adds up to a clear measurement of national brand power, and a unique barometer of global opinion.

read more...

Technorati tags: world,rank,poll,tourism

EconLog, Is Homo Economicus A Sociopath?, Bryan Caplan: Library of Economics and Liberty

2005-08-08T02:40:00.000-07:00

EconLog, Is Homo Economicus A Sociopath?, Bryan Caplan: Library of Economics and Liberty: " EconLog
Is Homo Economicus A Sociopath?, August 06, 2005
by Bryan Caplan

The other day I was reading Martha Stout's The Sociopath Next Door. Although it's engaging, it didn't tell me anything I didn't already know. But it did remind me of a question I've wondered about before: Is homo economicus a sociopath? Is microeconomic theory founded on the premise that the percentage of sociopaths in the population is not 4%, as Stout claims, but 100%?
Modern psychiatrists prefer to call sociopaths 'people suffering from anti-social personality disorder,' though as a Szaszian aside, I'd say that if anyone 'suffers' from it, it's the people who don't have it! In any case, here are its main official symptoms:

read more?

Technorati tags: economics,disfunctional,diseases,people

Greenspan's last words? | Economist.com

2005-08-08T02:32:00.000-07:00

Greenspan's last words? Economist.com: "Greenspan's last words?

Jul 20th 2005
From The Economist Global Agenda

Alan Greenspan, the chairman of America's Federal Reserve, has 'given what may be the last of his twice-yearly speeches to Congress on monetary policy before his expected retirement. Those pleading for lower interest rates or at least an end to the rises found that he has not gone soft in his old age"

Technorati tags: economics,Greenspan,Federal reserve,future policy

Search Links: Search Engines Worldwide

2005-08-08T02:23:00.000-07:00

Search Links: Search Engines Worldwide

Technorati tags: economics,blogs,blogging,search engines,positioning,links,ratings

Job Growth Up...

2005-08-05T22:36:00.000-07:00

Job growth up; interest rate hikes eyed By Tim Ahmann
Fri Aug 5, 4:38 PM ET

WASHINGTON (Reuters) - U.S. job growth picked up last month as employers added 207,000 workers to their payrolls, a healthy gain that led Wall Street to increase bets on more rate rises from the Federal Reserve.
Read more...

Technorati tags: jobs,economy,news,US jobs

Tutoring and Translation Services Offered

2005-08-02T07:02:00.000-07:00

Tutoring and translation Services offered. Individualized plans. Personalized support.

Translating English to Spanish/ Spanish to English:

Documents
Web Pages
Books
Pamphlets

Tutoring available based on need. Your choice of what tolearn, when and how to learn it!

Individuals or Corporate accounts. Reasonable rates and free estimates.

If interested please contact edfern34[at]hotmail[dot]com

MSN Money - Forbes: The world's most powerful women

2005-08-01T04:39:00.000-07:00

...And women have also a place of power and wealth...
MSN Money - Forbes: The world's most powerful women

Small Business Trends

2005-07-31T15:58:00.000-07:00

Links to very useful entrepeneur resources and up to date information about the Entrepeneurship and its World...

Small Business Trends

Feed of the Day

2005-07-29T02:37:00.000-07:00

Feed of the Day: "43 Things steps up to the plate as Pluck's Feed of the Day. Surprisingly still unique - I'd expected a zillion knock-offs with added 'bonus features' - 43 Things is a public way of stating your goals, checking them off the list as you accomplish them (or give up), and seeing what others want to accomplish with their lives. The name itself is not tied to 43 Folders or getting things done. At least not as far as the developers let on. My guess is that it's a combination of Douglas Adams' answer to 'Life, the Universe, and Everything' and Spinal Tap's 'it goes to 11.'"

Trackback: http://www.typepad.com/t/trackback/2901469

How Prosperity Is Reshaping the American Economy

2005-07-27T07:15:00.000-07:00

How Prosperity Is Reshaping the American Economy
Confidence is up, jobs are everywhere, and there's a new breed of entrepreneur

Leo Danushevsky arrived in New York City from Ukraine in 1979 with $900 and not much else. He worked as a machinist until 1989, when he borrowed $85,000 to start L.C. Mold Inc., a tool-and-die company in suburban Chicago. Last year, L.C. Mold did $5 million in sales. Danushevsky and his wife own $500,000 in stocks and just moved into a new home on 2 1/2 acres, complete with a spa. What's more, almost all of his 37 employees--most of them fellow immigrants--own their own homes and participate in a profit-sharing plan. ''Everything I read about America turned out to be true,'' marvels Danushevsky. ''If you work hard enough, you can get somewhere.''

Read More...

SHUTTLE PROGRAM BACK IN BUSINESS

2005-07-27T06:59:00.000-07:00

Out of the depths of despair and into flightMore than two years after the Columbia crew perished, the shuttle program is back in business
By MATHEW INGRAM

Wednesday, July 27, 2005 Page A3

With a report from Jane Taber in Ottawa

CAPE CANAVERAL, FLA. -- Can an entire country heave a single, collective sigh of relief? If so, then that's what the United States did yesterday morning when the space shuttle Discovery lifted off from Kennedy Space Center in Florida at 10:39 a.m. and soared skyward, 2½ years after an explosion destroyed its sister ship Columbia as it was returning to Earth, killing its entire crew and bringing the U.S. shuttle program to a screeching halt.

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~LeoTheMasteR~

2005-07-23T01:27:00.000-07:00

A truly skillful and well planned marketing blog. I am truly impressed. A real inspiration from Leo...

~LeoTheMasteR~

Technorati tags: marketing,master,blog,blogs

StartupJournal | Small Talk

2005-07-22T01:37:00.000-07:00

StartupJournal | Small Talk: "Small-Firm Payrolls Show
Little Rise in Hiring

By RICHARD BREEDEN
Staff Reporter of The Wall Street Journal.

From The Wall Street Journal Online

Small-business hiring has been slow and average wages have dropped about 2.26% during the first half of the year, according to data from SurePayroll Inc., a Skokie, Ill., payroll firm serving more than 15,000 companies nationwide.

Employment during the first six month has increased only about 0.3%, and has been flat for June compared with May.

If second-half hiring continues at a similar pace, according to SurePayroll, then employment growth for all of 2005 would be about 0.6%. In 2004, the small firms' data showed an increase in employment of about 4.4%, the strongest job creation for the businesses since 1999.

Small businesses currently are confronted with a number of concerns, according to SurePayroll's President Michael Alter, including terrorism issues, oil prices, health-care costs and competition from global outsourcing.

Although the survey's data show a small increase in employment nationwide during the first six months, the Northeast enjoyed the strongest, with a first-half increase of 4.1%. The weakest region was in the Midwest, with a small-business job decline of 2.0% in the survey.

Only the South showed a rise in wages for the first half of the year at 0.6%, while average pay in the West fell by 2.6%.

Although average pay has declined each month from January through May, it did increase in June. Last year, according to SurePayroll's data, average check size decreased by 4.8%."

Alfred Nobel (1833-1896) - Forbes.com

2005-07-22T01:27:00.000-07:00

Alfred Nobel (1833-1896) - Forbes.com: "Twenty Most Influential Businessmen
Alfred Nobel (1833-1896)
Forbes.com Staff, 07.18.05, 12:00 PM ET

Forbes.com readers and editors rank Alfred Nobel as the tenth most influential businessman of all time. (Read more to find out how Forbes.com ranked them.)

Alfred Nobel didn't just invent dynamite, he capitalized on his idea by founding 16 explosives plants in 14 countries. When competition arose among them, he merged them. Two holding companies--the first of their kind--were formed, coordinating everything from production to sales to acquisitions. Historian Ragnhild Lundstrom credits Nobel's creative fusion of his businesses as a template for how to organize a global empire. Dynamite had an enormous impact on the world, both for good--facilitating the construction of tunnels, railroads and canals--and for ill--high-explosive shells dramatically increases warfare's carnage. But perhaps Nobel's most enduring legacy is the annual prizes given in his name for peace, physics, literature, chemistry, economics and medicine. "

Please note

2005-07-21T23:33:00.000-07:00

I have been compiling definitions and explanation to the most common and most used Economic terms. There is a link to each explanation if you just click on the hyperlink of the word that is highlighted. Beacause of the law of diminishing marginal returns, I will discontinue providing this assistance. If you want to find out what a term means, highlight the word or phrase and do a quick search on one of the major search engines. I like using Wikipedia as my preliminary web search. I find their definitions fairly accurate and simple, but you can use other encyclopedias, depending on how much more you want to learn on a particular word or definition.

U.S. Economy Continues To Expand--For Now - Forbes.com

2005-07-21T04:43:00.000-07:00

An easy to read article from Forbes magazine talking about the state of the economy, economic indicators and other important economic data.

Oxford Analytica
U.S. Economy Continues To Expand--For Now
Oxford Analytica, 07.15.05, 6:00 AM ET

The U.S. economy enjoyed its eighth consecutive quarter of expansion above 3% from April to June 2005, the longest period of such robust growth in two decades. Indeed, growth in the second quarter was revised upwards this month from 3.1% to 3.8%, indicating that the economy is more resilient than was earlier anticipated. At least in the short term, the economy will continue its robust expansion.

In early 2005, it was widely perceived that the massive U.S. trade deficit would encourage a further major dollar devaluation this year in order to set the stage for current account improvement. However, the currency had rallied by nearly 10% against the euro and also enjoyed gains against the yen and other currencies.

The dollar's appreciation indicates that the current account deficit could expand to $900 billion during 2006. While the dollar's rally demonstrates that global financial markets are more capable of sustaining large payment imbalances than most economists would have imagined possible only five years ago, concerns about the currency will eventually re-emerge.

According to the latest Congressional Budget Office forecasts, the strength of the economy will help reduce the federal budget deficit to $325 billion in fiscal 2005. However, the current account deficit will remain large because the household savings rate is still less than 1%, and the corporate savings rate will decline as capital spending increases. The critical factor determining demand for the dollar will probably be the performance of the economy. If steady growth can be sustained with stable inflation, there will be sufficient demand for U.S. financial assets to fund an expanding current account deficit. However, if monetary tightening tips the economy into a downturn, confidence will erode and the dollar could suddenly plunge.

The economic outlook thus centers on two main issues. Firstly, in terms of the monetary policy outlook, it is likely that the Fed will increase short-term interest rates to at least 3.5% by August. However, the fact that yields on ten year Treasury bonds are still only about 4.1% demonstrates that many investors are quite complacent about monetary policy. Bond market bulls believe the economy will lose momentum during the next few months and force the Fed to halt tightening. They point to the sharp slowing of personal income growth during May and the recent weakness of durable goods orders as evidence of faltering growth. They also interpret the flattening of the yield curve as a sign that policy has become restrictive and growth will soon slow.

However, the economy does have considerable underlying strength. On the basis of new government data, wage and salary income is now growing at a 7.5% annual rate. Such rates are likely to sustain consumption, despite the low savings rate in the household sector. The resilience of profits, coupled with strong corporate balance sheets, points to further steady gains in business investment.

The Fed is likely to continue increasing interest rates, because it perceives that the economy enjoys solid growth momentum and that the risk of inflation is increasing. The core Personal Consumption Expenditure (the average measurement of consumer prices minus food and energy) deflator is now 1.6% above its level one year ago, while broader measures of inflation have risen into the 2% to 3% range because of high oil prices. The government's new income data also indicates that wage growth is accelerating at a time when productivity growth is eroding. The Fed is comfortable with an inflation rate of 1% to 2%, but will not perceive monetary policy with such an inflation rate as neutral until the funds rate increases to 4%.

Secondly, in terms of the housing market outlook, the sharp rise in sales and home prices has pushed the value of real estate transactions up to $160 billion per month, compared to $340 billion per month for retail sales. Housing transactions are thus equal to half the value of retail sales compared to only one quarter in 1995. The ownership of housing is also much broader than the ownership of assets such as equities. The government's data on consumer wealth indicates that the top 1% of households own one-third of the value of all equity, while they own only one-eighth of the value of housing. The concern about housing reflects evidence of increasing speculation in the market.

The key factor likely to dampen the housing market is rising interest rates. Despite a year of monetary tightening, mortgage rates have not increased because ten year Treasury bond yields are still close to 4%. If bond yields rise into the 5% to 6% range, the cost of mortgages will increase and dampen housing demand. However, rising short-term interest rates will not threaten the housing market without rising bond yields.

Providing that core inflation remains below 2%, the Fed's goal is to fine-tune a soft landing to a Gross Domestic Product growth rate close to 3%. However, it cannot control the level of bond yields that are now so critical to the housing market. If the bond market experiences a major correction, housing will cease to be a growth locomotive, and the growth rate of consumer spending could slow sharply. The outlook will thus depend heavily upon how bond investors, not just the Fed, perceive the economy's tradeoffs between growth and inflation.

U.S. Economy Continues To Expand--For Now - Forbes.com

SoYouWanna meet the top ten richest people in the world, pt IV

2005-07-21T01:33:00.000-07:00

SoYouWanna meet the top ten richest people in the world, pt IV

[top ten],[rich],[richest],[news],[wealth]

Employment Strategies for 50-something -- ThirdAge

2005-07-20T17:28:00.000-07:00

A while ago I found this article on my Thirdage.com subscription and I thought it apropiate to blog it. I have been subscribed to Thirdage.com for a couple of years now and find the site to have a lot of interesting features, forums and ideas that you and I can use regardless of age. If you decide you want to start to do some of the things suggested, please leave a comment and we'll see that you receive the help you need or want. Or just visit and explore the site and see for yourself...

Employment Strategies for 50-something -- something

Technorati tags: economics,thirdage,employment help

MSN Careers - 10 Dead-End Jobs - Career Advice Article

2005-07-19T16:42:00.000-07:00

Just in case you did not know... MSN Careers - 10 Dead-End Jobs - Career Advice Article
Planning and preparation are the best tools to use in todays dynamic and changing economy...

BBC NEWS | Business | Shares pick up as optimism grows

2005-07-17T17:40:00.000-07:00

And... I sure like good news... I am also providing readers with a variety of sources for easy to understand terms and definitions, all links within the article were carefully researched for the most practical and easy to understand terminology...

Export destination

And the economic data too proved encouraging in the US.

Industrial production was up 0.9% in June, twice what many economists had expected, while consumer sentiment also beat forecasts.

Best of all, inflation - a key worry amid sky-high oil prices, and one reason for the US Federal Reserve's month-by-month boost to interest rates - stayed subdued, both wholesale and retail.

"The economic data that we got continues a string of very positive reports indicating sustained economic growth and low inflation," said Michael Sheldon at Spencer Clarke LLC in New York.

Good signs for the US economy tend to support stock market movements elsewhere, since the US is a key market for most industrialised countries' goods.

BBC NEWS | Business | Shares pick up as optimism grows

Thoughts from Thoughts.com

2005-07-17T10:31:00.000-07:00

If all mankind minus one, were of one opinion, and only one person were of the contrary opinion, mankind would be no more justified in silencing that one person, than he, if he had the power, would be justified in silencing mankind.
-----
John Stuart Mill

courtesy of Thoughts.com

Unsolicited policy advice for the Democrats

2005-07-16T19:22:00.000-07:00

On July 14, 2005 Mr Mandel wrote:

Unsolicited policy advice for the Democrats
Michael Mandel

Democratic pollster Ruy Teixeira considers how the Democrats could use new ideas
about the economy. He writes:

1. Those ideas should sum up clearly and
simply what the party stands for
and where it proposes to take the country.
2. Those ideas should be few in
number and easily reduced to a key principle
or two that can be transmitted
to voters--otherwise voters are unlikely to pay
much attention.
3.Those ideas should actually work in practice, so that
voters will see the
benefits of having the party in office and reward it with
additional
electoral success.

I fail to see how "cutting the budget
deficit" fits any of these criteria.

Do the Democrats really want to sell themselves as the party of fiscal rectitude and hairshirt economics?

Do the Democrats really want to sell themselves as the party of "we will raise your taxes and cut your benefits?"

And most important, the only real economic effect of a smaller budget deficit is to induce a bit more capital spending...maybe. Most economic models show that cutting the budget deficit actually depresses consumption for years. Do the Democrats really want to sell themselves as the party of "more business investment and a lower standard of living?"

Is there something here that I'm not getting?

I do not get it either, as historically, the US government has run on a deficit and the debt we owe to ourselves anyway.

Economics for You and Me

2005-07-14T23:53:00.000-07:00

This is the first attempt at blogarizing my Economic mind, and translate to plain and simple English news, events, theories or humor about the world of economics, business, money, finances and other such topics.