Word: betterness
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...foreign-exchange transactions - or a "Tobin tax," as the suggestion became known - the idea is enjoying a new lease of life. At a meeting of G-20 finance ministers last weekend, British Prime Minister Gordon Brown suggested the group of leading countries consider the tax to establish "a better economic and social contract between financial institutions and the public based on trust and a just distribution of risks and rewards...
...shopping for a big-screen TV, then getting the right one at a modest discount is always better than getting the wrong one really cheap," says Victor Cheng, author of the Recession-Proof Business. (See 10 things to buy during the recession...
...part because they know that in a few years, his parents will move in with them. Jiang's parents will help take care of Jiang's daughter, and as they age, Jiang and his wife will help take care of them. As China slowly develops a better-funded and more reliable social-security system for retirees - which it has begun - the economic necessity of generations living together will diminish a bit. But no one believes that as China gets richer, the cultural norm will shift too significantly. (See 10 health care-reform...
...care and pension systems, which increases incentives for individuals to save while they are working. But China, like many other East Asian countries, is a society that has esteemed personal financial prudence for centuries. There is no chance that will change anytime soon, even if the government creates a better social safety net and successfully encourages greater consumer spending...
Proudly so, because as Zhang understood, hard work today means a much better life decades from now for those who will inherit what he helped create. And if that sounds familiar to Americans - marooned, for the moment, in the deepest recession in 26 years - it should...