Mind Over Money. Mind Over Money PBS Airdate: April 27, 2010 NARRATOR: Does raw human emotion dictate your financial decisions, or are we rational calculators of our own self-interest? It's a bitter scientific debate that has real-world consequences. The crash of 2008 nearly collapses the global economy. A set of amazing experiments reveals it was no surprise. Experiments show our behavior is bizarre when it comes to money, but not everyone agrees.
ZACH BURNS (University of Chicago): Okay, who's ready? NARRATOR: It's an unusual experiment that challenges all our ideas about money:... ZACH BURNS: Who wants to bid? NARRATOR: ...an auction of a twenty dollar bill. BIDDER ONE: One dollar. ZACH BURNS: Do I hear two dollars? BIDDER TWO: Two dollars. ZACH BURNS: Do I hear three? You want five? BIDDER THREE: Five. ZACH BURNS: Six? BIDDER FOUR: Six. ZACH BURNS: Seven? BIDDER FIVE: Seven. NARRATOR: The rules are simple. BIDDER SIX: Ten. ZACH BURNS: Eleven? BIDDER FIVE: Thirteen. NARRATOR: But there's a catch. BIDDER SEVEN: Twenty. Secret Fears of the Super-Rich - Graeme Wood. The October 2008 issue of SuperYacht World confirmed it: money cannot buy happiness. Page 38 of “the international magazine for superyachts of distinction”—if you have to ask what it takes for a yacht to qualify as “super,” you can’t afford to be in the showroom—presented the Martha Ann, a 230-foot, $125 million boat boasting a crew of 20, a master bedroom the size of my house, and an interior gaudy enough to make Saddam Hussein blush.
The feature story on the Martha Ann was published just as the S&P 500 suffered its worst week since 1933, shedding $1.4 trillion over the course of the week, or about 2,240 Martha Anns every day. Still, one of the captions accompanying the lavish photos betrayed the status anxiety that afflicts even the highest echelons of wealth. “From these LOFTY HEIGHTS,” the caption promised, “guests will be able to look down on virtually any other yacht.” Virtually any other yacht! Such complaints sound, on their face, preposterous. Making the Choice Between Money and Meaning - Umair Haque. Remind me: why is an average investment banker worth, say, a hundred times as much as an average teacher? And why does a top hedge fund manager “earn” enough to pay for thousands of teachers? Is there a trade-off between meaning and money? And if there is, how does one master — and perhaps — resolve it?
Can it be resolved? There is indeed a stark, sharp, gigantic trade-off between meaning and money in our so-called brain-dead shell-game Ponzi-scheme of an “economy.” But there shouldn’t be. In a “working” economy, one should gain a sense of meaning from one’s work when one makes a lasting, visible difference; and when one makes a difference, one should be rewarded for (and in proportion with) it. Yet, the unforgiving truth is: the trade-off between meaning and money is as real — and as toxic, as characteristic of our post-prosperity present, and as strikingly intensifying — as climate change. So what can you do about it? And yet a life without meaning is like a day that never breaks. Witter / ? Global Talent Strategy. Why are Singapore and Hong Kong Facing Huge Talent Shortages in Finance? Research from Robert Half shows that Singapore and Hong Kong Employers are struggling to find finance and accounting staff.
Workforce is mobile Finance and accounting professionals are a mobile workforce, with less than one in six employees in Hong Kong and Singapore expecting to be in the same role with the same employer in two years’ time. Some expect a promotion with their existing employer or a move to a new employer. Some expect both a promotion and a new employer. It is therefore understandable that employers in both markets are finding it challenging to find suitable staff, as well as retain the staff they already have.
Struggle to find the right talent One of the most significant findings of this report is the level of challenge companies face finding skilled finance and accounting professionals. The quest for talent is global It is clear from the survey that the talent quest is a global one. Yes Bank Limited : YES Bank’s YES Sahaj Micro-ATM innovation gets global recognition. Only Indian company to be awarded the 'Best Overall Mobile Lifeline Launch' at the Connected World Forum, held at Dubai 6th December 2012 Mumbai, December 6, 2012:YES BANK, India's fourth largest private sector Bank, is the only Indian company to be conferred with the 'Best Overall Mobile Lifeline Launch'award at Connected World ForumAwards, in Dubai.
The recognition was given for the Bank's YES Sahaj Micro-ATM,a frugal innovation, which leverages the computing power of a low cost mobile handset and basic GPRS connectivity to deliver essential banking services like cash deposit and withdrawals, in rural hinterlands. YES Sahajhas built-in stringent security features and can even function in areas with limited, intermittent GPRS connectivity. The Best Overall Mobile Lifeline Launch award category recognizes new launch of a Technology/service that holds tremendous scale up potential in future. YES BANK has won several international recognitions during FY 2012-13. Management & Organizations. "Big data in organization studies" Management & Organizations department brown bag, Ross School of Business, December 12, 2012. "Inequality and Occupy" University of Michigan School of Information, September 21, 2012; Ross School of Business panel on Occupy Wall Street, February 8, 2012.
"Re-imagining the corporation" University of Michigan School of Medicine, September 19, 2012; American Sociological Association annual meeting, Denver, August 18, 2012. "How is the field construct useful for organization theory? " Academy of Management annual meeting, Boston, August 6, 2012. "What are organizations journals for? " Tel Aviv University, June 7, 2012. "The twilight of the public corporation in the US" Business History Conference, Philadelphia, March 29, 2012. "How Wall Street reshaped America" Ann Arbor City Club, February 8, 2012. "Finance capitalism 2.0: How BlackRock became the new J.P. "Finance and society" Laurent Picard Distinguished Lecture, McGill University, April 12, 2011.
Finovate Fall 2012: Demo Performance Scores and Reviews. By the end of a Finovate, our brains go numb, one demo melds into the next, and we can’t quite remember what happened on Day 1. And we include the night of Day 1 in that. But despite all that, we continue our tradition of shadow grading the Finovate demos. We don’t grade every demo, making accommodations for trips to the restroom, emergency phone calls from the head office, and, in some case, repeat demo-ers. With that caveat firmly declared, Bank Innovation’s grades for the Finovate Fall 2012 demos appear below. Should you wish to cut to the chase, our top picks were Moneydesktop, PayTap, CommunityLend and Deluxe SwitchAgent: Choice Direct Cool Factor: C+ I Want It: C+ Profitability Potential: C+ LearnVest Cool Factor: B+ I Want It: B Profitability Potential: B+ Cool Factor: B I Want It: C Profitability Potential: C Playmoolah Cool Factor: A- I Want It: A- Profitability Potential: B- Billhighway I Want It: B- Profitability Potential: B Ignite Sales Cool Factor: B- Finovera Cool Factor: C Carta Worldwide PFM.
Innovation in Africa: Upwardly mobile. Bristol businesses queuing up to join local currency scheme. As Britain loses faith in its banks and feels shockwaves from the euro crisis, one city is trying to keep local wealth in local pockets with the launch of its own currency. The Bristol pound - usable only with member businesses in the city in southwest England - is to launch in September, and organisers are deluged with local firms wanting to sign up. "The perception of banking and money is that it's a very ruthless system: people are out for what they can get," co-founder Ciaran Mundy told AFP.
"This is about saying yes to something new. It's tapping into a different set of values about money. " The scheme has "captured people's imaginations", he added, in a recession-hit year when British banks have been beset by scandals and ministers talked openly of a possible euro collapse. Hundreds of businesses have joined, from the acclaimed Arnolfini arts centre to the Chandos deli chain, and the launch had to be postponed from May to September 19 because of the level of interest. Fundrise. Move Over Startups: Crowdfunded Real Estate is Here. You could hear the Twitterverse shake when startup crowdfunding got passed via the JOBS Act. With one bill, it felt like Congress had finally democratized angel investing, something long seen as controlled by the select few “accredited investors.”
As the Twitterati now patiently wait for the SEC to release its regulations and usher in startup crowdfunding, a different breed of crowdfunding is emerging out of DC. Fundrise, a DC-based startup, is taking advantage of seldom used SEC Regulation A to start selling shares in commercial real estate at $100 a pop. Crowdfunded real estate? Fundrise was founded by Ben and Dan Miller, who spent the last few years building up a booming commercial real estate business. “We felt that the private equity funds we looked to raise money from typically had no natural connection to the neighborhood buildings we were developing,” Ben Miller explained. How does it work? Since it launched last week, Fundrise has raised $118,500. How is it legal? And who knows? Arthur Brock's Personal Web Site | Arthur Brock. Movenbank: You’ve Got CRED. Cambrian Explosion of Everything. “The Cambrian explosion was the relatively rapid appearance of most major animal life forms, accompanied by major diversification of organisms.
Before, most organisms were simple, composed of individual cells occasionally organised into colonies. Over the following 70 or 80 million years the rate of evolution accelerated by an order of magnitude and the diversity of life began to resemble that of today.” (Adapted from Wikipedia ) I believe we are witnessing a similar “Cambrian Explosion of everything” in the information technology evolution of the recent years, and we see a relatively rapid appearance of new “life” forms, new building blocks for the way we do business in this hyper-connected economy.
This thought came into my mind when attending recently the Cloud Identity Summit in Vail, Colorado 16-19 July 2012. Explosion of API’s Craig then showed some staggering stats of open API’s, the so-called “API Billionaires” And every API needs its identity. Explosion of Nodes Explosion of Data. Author Bio | Sacred Economics | Charles Eisenstein. I will give you some of my background, although the intense transitions of the last few years have left me feeling like a new person. I was born in 1967 and was a very sensitive, intellectual and dreamy child. I was always consumed by questions like, “Where did I come from?” “Why am I here?” “Where am I going?” So of course, embedded as I was in a culture that sees science and reason as the source of truth, I tried to “figure out” the answers. I didn’t know what I was searching for, but I knew that none of the usual options life presents a Yale graduate attracted me. In my late 20s I entered what was to be a long period of intensifying crisis.
The next five years were much like a birthing process. In addition to writing books and essays, I have been doing more and more public speaking, both at conference and smaller events. I am now remarried and still living in Harrisburg, PA with my three children, two of whom are now teenagers. Why Crowdfunding Creativity Is Just The Beginning.
Media activist Ian MacKenzie offers a short history of crowdfunding and how it repesents one of the key pillars of our emerging social and economic paradigm. It’s hard to know when it began. Perhaps it started with my first web page. That moment I typed out my first cautious lines of HTML, and uploaded the document to the mysterious sounding “web server.” Hello world. The words spoke back at me from the monitor. With cautious joy I realized these letters were now published to the Internet. Part of me wanted to remove the page immediately. And yet, suddenly, as the single sentence blinked in front of my eyes, it was like a new being speaking back to me. Today, almost 15 years since Al Gore coined the term “The Internet” the landscape has changed dramatically.
The result is a culture of sharing. Here is what we see today on the web: millions of web videos, music tracks, essays, blog posts, photographs and more, offered simply for no cost (other than a computer and Internet connection). Welcome - MicroEnsure. Jane Thompson: Banking the Unbanked, Looking for Company. Jane Thompson is not a banker. But during her nine years running Wal-Mart Stores Inc.'s financial services unit she did more than any single bank or banker in the country to develop and sell affordable financial products to low-income customers. She did so while lowering the often predatory prices that consumers pay for cashing their paychecks, sending money to relatives and buying debit cards that can be used without checking accounts.
Wal-Mart managed to make a significant profit on these services, despite the conventional banking wisdom that there is little money to be made from low-income customers. Now Thompson, who retired from Wal-Mart in June, is encouraging traditional bankers to follow her lead. For these reasons, American Banker has named Thompson its Innovator of the Year for 2011.
Wal-Mart has always declined to discuss the profit or other details of its financial services unit. Many of the consumers Thompson is referring to live paycheck to paycheck. Media Lab: Design Ecology / Information Ecology. Financial sixth sense We have trouble controlling our consumer impulses, and there's a gap between our decision and the consequences. This is magnified by the digitization of money. When we pull a product off the shelf, do we know what our bank account balance is, or whether we're over budget for the month? Our existing senses are inadequate to warn us. The Proverbial Wallet gives us that financial sense at the point of purchase by un-abstracting virtual assets. Bumblebee The wallet buzzes through a vibrating motor whenever your bank processes a transaction. Mother Bear The wallet protects the money within it when you need to be thrifty with a hinge that resists opening.
Peacock The wallet swells and shrinks to reflect the balance in your accounts. Technical details The Proverbial Wallets are working prototypes, tough enough to sit on. Henry Holtzman, John Kestner, Daniel Leithinger, Emily Tow, Danny Bankman, Jaekyung Jung Publication/press Exhibited at Ars Electronica 2009.
Trade and Cash Convergence: The Integrated Transaction Banking Plat... Banking the Unbanked: Prepaid Cards, Mobile Payments, and Global Opportunities in Retail Banking. Innotribe Startup Challenge 2012. Under savers anonymous. For the poorest of the poor, putting money into savings is no small challenge. Strategies like direct deposit, automatic 401k deposits and employer matching, and default contributions are not typically available to the very poor, who are often self-employed and don’t have formal, regular paychecks to redirect default savings from.
Even small levels of savings have been shown to net large benefits to savers, and policymakers recognize that increasing the savings rate is an important means to improving quality of life. But how can the poor be encouraged to put just a little bit more of their income into savings? Professor Stephan Meier often investigates the intersections between psychology and economics, and one line of his research examines the effects of peers on behavior. Meier notes that while the poor may not have access to retirement accounts and default depositing, they do have access to peers. Peer commitment devices are thought to work in several possible ways.
Challenges in Banking the Rural Poor: Evidence from Kenya's Western Province. Ants and markets. What ants can teach us about the market « marcus jenal. Re-inventing finance at Lift12. Space opera, beyond finance edition. Finacle - Banking Thought Leadership | Solutions. Cathy O’Neil: Economists Don’t Understand the Financial System (Quelle Surprise!) Ideas at Work : Feature : Undersavers+Anonymous.