Word: dollarization
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...Facebook opened its online platform to anyone who wants to build applications for it, from music-sharing services to carpool arrangers, making it a potentially much more useful tool. Some in Silicon Valley wonder excitedly if the company--which reportedly turned down a billion-dollar buyout offer from Yahoo! last year--might become not just the hottest tech IPO since Google but also the next major stage in the Web's evolution. First there was the browser, then the search engine. Now we'll move on to what Zuckerberg calls the "social graph," the filter of personal connections that defines...
...traditional standards of big-league presidential politics, the bundlers' individual efforts may look like pocket change. Nicholas has raised $1,276 for Obama by inviting people to give according to their height--10 bucks a foot, then a dollar an inch. His friends have forwarded his e-mails to their friends, which explains why half the 14 people who have given through his site are people Nicholas has never met. Many are giving more than he asked for--either that, or his donors are 7 1/2 ft. tall. Stanton has raised $744 from 18 people by tying her fund raising...
...point of viral fund raising isn't just to drive up dollar totals. Campaigns are hoping that the personal approach will yield donors who feel more personally connected to a candidate--and who can later be converted into door knockers and phone bankers. And while big donors often contribute up front the maximum $4,600 allowed under the law ($2,300 apiece for the primary and general elections), smaller contributors can be tapped again, creating an ongoing relationship. "You can't look at it as a moment in time," Obama campaign manager David Plouffe says of the modest donations...
...Africa - about the perennial curses of bribery, corruption and lawlessness. These negative associations with Africa were much on the minds of people at the summit in Cape Town. "We are fighting an image problem," said Mo Ibrahim, a Sudanese-born cell-phone magnate who has created a multi-million-dollar prize to reward good political governance in Africa. Ngozi Okonjo-Iweala, an ex-Finance Minister in Nigeria known for fighting corruption, likewise lamented that the private sector "still sees Africa as a financial basket case, which it's not ... We need to focus on what's going right...
Equipped with a government internship, a new grey suit, and $30 a week for groceries, my enthusiasm faltered as I did the math for the first time. Subtracting the cost of the occasional, obligatory lunch with colleagues or friends, the grocery budget was closer to $21, a mere dollar per meal...