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...might soon feel confident enough to start spending more on everything from summer fashions to new cars and doing it with borrowed money. On June 4, an executive with MasterCard suggested that people were already starting to inch in that direction. Speaking at an investor conference, he said that thus-far unreleased results of the company's monthly spending survey indicate that while people were still spending less, the rate of decline has slowed. MasterCard runs the systems that process credit- and debit-card transactions and can therefore provide a more timely read on the economy than official government statistics...
...mousetrap to replace his much more expensive washing machine, he's created value as well. We tend to put the emphasis on the first kind of value creation because there are a small number of inventors who earn giant paydays from their mousetraps and thus become celebrities. But there are hundreds of millions of consumers and small businesses that find value in these innovations by figuring out new ways to put them...
...which quietly appeared in February as part of a viral campaign, has attracted little notice thus far, but because it comes from a highly respected American brand, it seems to mark some kind of cultural tipping point, where pornography has soaked so far into the fabric of mainstream culture that it's no longer seen as a stain. The phenomenon, known as porn creep, is also evident in ads from such companies as American Apparel, Carl's Jr. and Quiznos. This is a family website, so you can Google those ads on your own. (See the best and worst Super...
...incomes grow consistently across the socioeconomic distribution, then we would not expect to see happiness grow much at all, save for those in the lowest earning bracket. Reinforcing the effect, as individuals gain wealth they often change social groups—and begin interacting with other higher earning individuals. Thus, as we gain wealth, the people we choose to compare ourselves against may also become wealthier, leading to little change in relative position...
...blockade and the resumption of trade and the movement of people outside the prison that Gaza has long been, the current crisis will grow massively more acute. Unless the U.S. administration is willing to exert real pressure on Israel for implementation—and the indications thus far suggest they are not—little will change. Not surprisingly, despite international pledges of $5.2 billion for Gaza’s reconstruction, Palestinians there are now rebuilding their homes using...