Word: dollarization
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That Christie's appraisal of the Rose collection was ordered up by the museum's now thoroughly traumatized director, Michael Rush, who did not learn that Brandeis had plans for his museum until the day the school made its initial announcement. He wanted to arrive at a dollar figure for the collection, he says, for insurance purposes, but also to raise the profile of the museum in the eyes of campus administrators. "I thought that the more information they had about how great this place was, the better it would be," he says. "That may have backfired...
...look at a Plastic Logic prototype. Like the iPhone, it's little more than a touchscreen, 8.5 in. by 11 in. (22 cm by 28 cm), linked wirelessly (like the Kindle) via a high-speed cellular network to a store that will support on-demand transactions of under a dollar. There are just two problems. Because everything about Plastic Logic's device is new, right down to a fab plant built in Dresden that's churning out parts, the first model won't reach consumers until 2010. And version 1.0 will render text in standard E-Ink black on gray...
...What Internet payment options are there today? PayPal is the most famous, but it has transaction costs too high for impulse buys of less than a dollar. The denizens of Facebook are embracing systems like Spare Change, which allows them to charge their PayPal accounts or credit cards to get digital currency they can spend in small amounts. Similar services include Bee-Tokens and Tipjoy. Twitter users have Twitpay, which is a micropayment service for the micromessaging set. Gamers have their own digital currencies that can be used for impulse buys during online role-playing games. And real-world commuters...
...Trillion-Dollar Question Michael Grunwald's story contains the most gems per paragraph of anything I have ever read [Jan. 26]. His analyses of the problems, the opportunities, the pitfalls and the inevitable lining up at the feeding trough are all spot-on. I especially liked the admonition to give the money to the people who can't afford to save it. That money will go straight to the free market - even though my wife and I will most likely save anything we get. Paul Bliss, San Diego...
...done though tax credits or access to inexpensive credit, governments have to move into the difficult role of building a system to create a series of incentives that make spending money more attractive than saving it. That is nearly impossible because it would certainly involve giving people a dollar to save for every dollar they spend...