Word: sociality
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Dates: during 2000-2009
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...finances. In Honduras, such tycoons as José Rafael Ferrari and Freddy Nasser monopolize sectors like broadcasting and energy - and, say analysts, continue to exert incredible influence on the government. Little will change, says Rosenberg, unless those local élites "step up and assume a greater sense of [social] responsibility." Former Nicaraguan Foreign Minister Emilio Alvarez agrees, but says Honduras' coup is only likely to encourage more meddling. Central America, he says, "is like a small village where the same group of families controls everything...
...private consumption. Even though consumer spending is increasing, it is not growing quickly enough. Private consumption's role in the economy has actually been declining, to a mere 35% of GDP in 2008 from 46% in 2000. Economists say policymakers need to speed up the development of a better social safety network, encourage small-scale finance and liberalize service industries dominated by big state firms to further raise incomes and encourage Chinese to spend more and save less...
...conventional economic forecasters, especially at the market turning points that can have the biggest impact on investors' portfolios. This is because, Prechter argues, standard economic models of financial markets depict prices as reflections - imperfect, perhaps, but still reflections - of true value. He believes instead that "waves of social mood are the driving factor" of both market moves and, to a certain extent, economic reality. He calls this approach socionomics, and he's doing what he can - his Georgia operation now includes a socionomics institute - to push it onto academic curriculums...
...theorist Hamilton and found that, adjusted for risk, Hamilton's predictions beat the market. MIT's Andrew Lo, a top finance scholar, has made technical analysis one of his main research topics. So maybe there is something to it. Or maybe this is just evidence of a social wave in action...
...also the furthest place imaginable from the seedy underbelly of the Internet. It's a hamlet where the sun always shines, crops always grow and your friends drop by to do chores accompanied by plinky guitar music. Its astonishing popularity is a testament to the potential of gaming on social networks. Social games promise the golden pork-chop combo of the addictiveness of computer games with the communality of Facebook and MySpace. And they generate some of their revenue from product come-ons, which is where Michelle--and FarmVille's owners--has run into trouble...