Word: cheaping
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Dates: during 2000-2009
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...quit the business. His padrone, disgusted, spells out what awaits him: "Go make pizzas.") When everyone in town is either a gangster or his potential victim, kids learn early to choose sides. What's exciting and, briefly, enriching for the boys, the Mob sees as labor that's cheap, malleable, expendable. In this sense, the film is Slumdog Millionaire without the girl, the songs or even a long shot at redemption...
...same time, some houses are still overvalued. Economists disagree by how much, and the answer changes from region to region. Houses in Cleveland are undoubtedly cheap. They could use some new home buyers there. But if we're still not in the ballpark of normality overall--and certain market watchers think we might see prices drop an additional 10% to 15% nationally before this thing is over--then spending billions to spur on buyers won't be a magical fix. "To prop up prices above fundamentally justified levels is throwing good money after bad," says Joe Gyourko, professor of real...
...some ways, proposals to stimulate the housing market aren't really aimed at bringing in new buyers. Extending tax credits to people selling one home to buy another and letting homeowners use cheap mortgages to refinance won't get rid of excess housing inventory. These policies are meant to do something else: stimulate the economy by delivering money to homeowners. "We could tell everyone you can get a credit card at a rate of 6%, and that would put money in people's pockets too," says Dean Baker, a co-director of the Center for Economic and Policy Research. Call...
...confrontation and integration. The West has solved some of the problems but outsourced others. We could happily forget about this as long as it was happening to weak, marginalized countries, but now China plays an active part in the world economy. We can't command China to give us cheap raw materials, cheap labour, and hope for the best. We will have to globalize solutions. Florian Bous, URDORF, SWITZERLAND...
...Jonah Lehrer explores these warring impulses, revealing the mind to be a series of competing catalysts, a tangled network of reason and emotion. Using a raft of anecdotes and scientific studies, Lehrer answers some seemingly simple--and highly entertaining--questions. Does expensive wine really taste better than the cheap stuff, or are we biased by the price? Why do we spend more with a credit card than we do when paying with cash? How can we simultaneously desire a healthy diet and quickly devour the slice of chocolate cake in front of us? And what does it really mean when...