Newsday is a Long Island newspaper. Some people bought it for $650 million and put it behind a pay wall. Three months later, they’ve got 35 subscribers. Yes, 35. [More]
economics
Sign The Slip Or Enter Your PIN? The Difference Is Fees
By 1.5.10
The NYT has an interesting article about what does on behind the scenes when you make a purchase at a retailer with your VISA debit card. You typically have two choices — you can enter your PIN or choose to sign. When you sign the retailer has to pay higher fees to VISA. [More]
Tiger Woods' Off-Road Adventure Cost Shareholders $12B
By 12.30.09
A new study says that Tiger Woods spectacular fall from grace has cost shareholders of the firms that used him as a spokesperson to lose $12 billion in value. [More]
Unemployment Hits A 26-Year High Of 10.2%
By 11.6.09
The pace of job losses has slowed significantly, but the economy still divested itself of 190,000 jobs in October, sending the national unemployment rate to 10.2%, says the Bureau of Labor Statistics. It should be noted that the unemployment rate only tracks people actively seeking work.
Problem Solved! GDP Shows 3.5% Growth
By 10.29.09
No, just kidding. We know you still don’t have a job. The Commerce Department announced that the economy grew 3.5% in the third quarter — snapping the longest streak of economic contraction since 1947.
Homeless? If You Can Prove There's A Relative Who'll Take You In, NYC Will Pay Your Way
By 7.29.09
NYC wants to have less homeless people — even if that means buying them a one way ticket out of town. The NYT says that the Bloomberg administration has paid for 550 homeless people to leave the city — including flying people to “Paris ($6,332), Orlando ($858.40), Johannesburg ($2,550.70), or most frequently, San Juan ($484.20).”
Everyone Still Shocked That High Unemployment Leads To Low Consumer Confidence
By 7.28.09
Consumer Confidence is down again. For example, the new score is 46.6. NPR says, “It would take a reading above 90 to signal that the economy is on solid footing.”
Read Chris Anderson's Book 'Free' For Free
By 7.21.09
Chris Anderson, editor in chief of Wired and author of The Long Tail, has published a new book that looks at something of interest to Consumerist: the trend of content and services to slide toward free, especially in the digital world. It’s pretty light reading and an interesting look at economics in the digital marketplace in particular—and for now, at least, it’s available in multiple formats for free.
Your Credit Card Company Is Building A Psychological Profile Of You
By 5.15.09
The next time you apply for a credit card, your credit report and income will be only a part of the criteria used to determine your creditworthiness. For that matter, as long as you have the card, what you use it for will be noted and added to a growing set of data that makes up your psychological profile, which will then be referred to every time the bank deals with your or reevaluates your risk as a customer.
"Iceland Is No Longer A Country, It's A Hedge Fund"
By 4.6.09
Vanity Fair’s April cover story is on Iceland’s banking massacre — detailing how the the tiny, well-to-do country committed “one of the single greatest acts of madness in financial history.”
Which State Consumes The Most Online Porn?
By 3.5.09
Utah, that’s which state! Or so says Harvard researcher Ben Edelman, who “analyzed subscriber data from an unnamed ‘top 10 seller of online adult entertainment.'” When comparing broadband subscribers, Utah comes in first with an average of 5.47 per 1000. In second place is Alaska with just over 5.03 per 1000, and coming in third is Mississippi.
What Is A Depression And Are We In One?
By 1.30.09
Yes, we’re saying the “D” word. Now that we’ve officially entered a recession — it’s time to wonder if we’re in a depression. We’d love to be able to give you a yes or no answer, but according to Marketplace’s personal finance guy, Chris Farrell, nobody agrees about what makes a depression different from a recession.
Buying Power: Computers Are Cheaper, College Is 248.4% More Expensive
By 1.30.09
The American Institute for Economic Research has released their Cost-of-Living Guide, which tracks the purchasing power of the dollar, says the WSJ Wallet Blog. They pulled some interesting examples of items that have increased in price — and a few that have actually gone down since 1990.
The Inmates Get Thinner And The Sheriff's Bank Account Gets Fatter
By 1.9.09
Here’s a grim economics lesson: In Alabama, there’s a law that allows the Sheriff to keep any money that’s left over after feeding the prisoners in the county jail. Can you guess what the result of this conflict of interest might be?
Find Out Where Your Money Goes When You Buy Gas
By 10.7.08
Want to know where your fifties go when you fill up your car with gas? GOOD’s latest chart breaks down the assorted costs, and compares them with other places around the globe. You can grab a free printed copy at any Starbucks, or go here to check it out in bright RGB goodness.
Economics Professor Self-Publishes Textbook To Subvert Overpriced Publishing Industry
By 9.17.08
R. Preston McAfee, a Cal Tech economics professor, is annoyed at how overpriced textbooks are. “‘The person who pays for the book, the parent or the student, doesn’t choose it,’ he said. ‘There is this sort of creep. It’s always O.K. to add $5.'” To fight back, he’s foregone the potential six-figure advance traditional publishing would have granted, and published his textbook online for free.
What Can You Get For $5?
By 7.24.08
Here’s an interesting experiment. This website is trying to use Flickr to explore the relative value of $5 around the world. They’re asking you to take pictures of things that cost 5 bucks and submit them to their Flickr pool, (or email them).
How Would You Like Your Inflation Served?
By 7.20.08
The Mexican restaurant chain Chachos is now charging a 7.5% inflation surcharge on all meals with cheese. Skyrocketing commodity prices present restaurants with a menu of unappetizing choices: raise prices, levy surcharges, reduce portions? How would you like your inflation served? Vote in our poll, after the jump.
