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...similar test in China that yielded comparable results. They gave 150 housewives 100 yuan that they could either save or use to buy soap, shampoo, bedding and pots and pans. Half the women received the 100 yuan in a single bill, while the other half got it in the form of a 50-yuan bill, two 20-yuan notes and a 10-yuan bill. More than 90% of the women who received the smaller bills spent the money. Meanwhile, just 80% of the women given a single note spent the money. But among those in both groups who used their...
Since shoppers with bigger bills are less likely to make purchases, frugal consumers can carry hundreds as a form of self-control. From a recession-fighting perspective, however, self-control is Satan. The U.S. government is desperate for consumers to start spending again. So maybe the Obama Administration is approaching the economic stimulus the wrong way. Forget about tax cuts and grants to state governments. Just give people a bunch of $1 bills...
...same zeitgeist made gambling ubiquitous: until the late '80s, only Nevada and New Jersey had casinos, but now 12 states do, and 48 have some form of legalized betting. It's as if we decided that Mardi Gras and Christmas are so much fun, we ought to make them a year-round way of life. And we started living large literally as well as figuratively. From the beginning to the end of the long boom, the size of the average new house increased by about half. Meanwhile, the average American gained about a pound a year, so that an adult...
...guitar. "There's going to be an explosion of music soon," he says, referring to the emergence of Cape Jazz from its long isolation. With that emergence will also come change - but for now the Cape Town Jazz Safari offers a chance to experience the music in its undiluted form. For details, see www.coffeebeansroutes.com...
...globalization that has brought 4 billion people into the world economy, where 10 or 15 years ago there used to be only about a billion. So you have this enormous change that has taken place in the world economy, but we have a global financial system without an effective form of supervision. We've got huge climate-change and energy problems that can only be addressed at a global level. And we've got problems of poverty that need some international response. On these very big issues, you've got agreement that the world has got to work together...