Much, but not enough, has been written about how the mobile phone has, and is changing, changed the world. The increase in information flow allows more transactions as a result of completing markets for example. I certainly would argue that a goodly chunk of poor country growth in recent years has come from this one thing. But there’s also something else. One of the things the poor have found dreadfully hard to do is save. No, not in that they’ve not got the surplus they could save, but there’s been no method whereby they could save.…See More
That people should be able to control their own property should be obvious. That’s what property means. But married women couldn’t for a long time, their property becoming that of their husband. Then that changed. So, married women having their own property again, what happened?
Women’s liberation as a financial innovation
Moshe Hazan, David Weiss, Hosny Zoabi 23 March 2019
Countries such as England, the US, Canada, and Australia granted property rights to married women in the 19th century.…See More
It might not be all that common to find a general agreement between Milton Friedman and Karl Marx but here is one – of course India needs more currency because the economy is growing. Thus this statement from a Reserve Bank of India official just isn’t a surprise, it’s a statement of the obvious:
With the country’s GDP size increasing in quantitative terms, there could be need for more currency in the economy, a Reserve Bank of India official said Thursday.
Spear-fishing, potholing, free climbing, potatoes.
All used to be high-risk activities, back before we used money.
Potatoes were particularly risky – growing them was bad enough, what with blight and crop failure and storms and floods. But once they were out of the ground, the fun and games really began.
Because they don’t last long, potatoes – you need to find someone quite quickly who wants a potato.
And the guy who wants your potato…….well, he needs to have something you want in exchange.…See More
A, somewhat belated, thought:
Perhaps if the price of a single repulsive tweet is now somewhere north of $100 million the good old US of A can be said to have licked this racism thing soon?
We have a show, rated as the top primetime scripted TV show, complete with an extensive back catalogue of episodes all primed to soar again.
It had the best demo number for any sitcom since 2014.
It was even reported to be breaking Nielsen ratings record for most on demand viewers ever.…See More
It’s not entirely obvious that there’s a moral equivalency between the manner in which the Clintons earned money and the way the Trumps are doing so. This isn’t stopping people from asserting that the two are the same – actually, that the Trumps are worse for of course they are. The latest screecher on this point being Jill Abramson:
… See More
I’m feeling nostalgic for Hillary’s Goldman Sachs speaking fees. Remember when we got our ethical knickers in a twist over Clinton’s $225,000 (£170,000) Wall Street speeches?