Category: economics

Buy Nothing Day – Nov 26th

On By Rick McIn Apple, economics, philosophyLeave a comment

Kate reminded me to do what I do most Fridays. Buy nothing.

Buy Nothing Day (BND) is an international day of protest against consumerism observed by social activists. Typically celebrated the Friday after American Thanksgiving in North America and the following day internationally, in 2010 the dates are November 26 and 27 respectively.

It was founded by Vancouver artist Ted Dave and subsequently promoted by Adbusters magazine …

Wikipedia – Buy Nothing Day 2010

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But if you’re the kind of scumbag who buys gifts for loved ones, Amazon, T.J. Maxx and Marshalls are the place to shop USA.

Know that TJ Maxx and Marshalls are offering brand new iPads for $399 — a savings of $100 on an item that is rarely ever discounted.

It’s a Black Friday American Thanksgiving promotion. … Those will sell out quick. Not every location has them.

But all day, every day, you can save money on EVERYTHING at Amazon.com.

Why? … No sales tax.

… Unless you live in Kansas, Kentucky, New York, North Dakota, or Washington state, you’ll pay no sales tax on many purchases from Amazon. (There are exceptions for goods that other merchants, like Target and Dow Jones, sell through Amazon.) …

You’ll get an especially good deal at Amazon if you’re making big purchases and you live in an area with high taxes. In Chicago and Los Angeles, for instance, state and local taxes add up to 9.75 percent, the highest in the nation. Sales tax is 9.5 percent in San Francisco, 9 percent in New Orleans, and it’s above 8 percent in Houston, Dallas, Las Vegas, Philadelphia, and Atlanta. In those areas, a … 64-gigabyte iPod Touch, which sells for $399 at Apple, $395 at Target, $387.99 at Best Buy, and $382.54 at Wal-Mart is cheapest of all at Amazon—$382.54, without the $30 you’d pay in taxes at other stores. …

Slate – Every Day’s a Tax Holiday

You can buy from Amazon.com if you live outside the USA. But there’s some chance your shipment will be stopped at your border. You might be asked to pay duty in excess of the savings on the buy.

combining savings with lottery

On By Rick McIn audiocasts, economicsLeave a comment

I’ve always considered lottery tickets a government sanctioned tax on stupidity. About 50% of Americans buy them every year.

… Don’t tell me Americans get $60 billion entertainment value from them. Gambling is addictive.

But I’ve no rant on the topic. Often a percentage of that tax money goes to good works, including amateur sport.

But couldn’t we spend those misguidedly optimistic dollars more wisely?

Here’s one way – Prize-Linked Savings (PLS).

I learned about it on Freakonomics:

… PLS is a kind of savings account that pools some of the interest from all depositors and pays out a big lottery prize every month or so. It combines the thrill of the lottery with the safety of a savings account. It’s sometimes called a “no-lose lottery,” since a depositor is automatically entered into the lottery but can’t lose the original money she deposits.

And while PLS might play well in the poorest parts of Africa and Asia, there’s a group of researchers who feel that PLS is very badly needed right here in the U.S. …

Freakonomics Radio: Could a Lottery Be the Answer to America’s Poor Savings Rate?

The only problem, it’s illegal almost everywhere in the USA, aside from Michigan.

Here’s the first “Save to Win” winner, an 87-year-old Michigan woman who had deposited $75.

This is innovative thinking. The best way I’ve heard to encourage people to actually put some of their dollars into a savings account.

A similar savings scheme has been working in the U.K. for over 50yrs.

Freakonomics: A Rogue Economist Explores the Hidden Side of Everything is a 2005 non-fiction book by University of Chicago economist Steven Levitt and New York Times journalist Stephen J. Dubner.

Freakonomics Radio is an audiocast by the same two guys available from iTunes. I recommend it.

in defence of the French strikers

On By Rick McIn economics, governmentLeave a comment

GOOD NEWS – the tug and pull between labour and management is still healthy in France.

I tried to take a train from Amsterdam to Portugal. It was possible, but tricky, since all the French trains are parked. In the end, I was forced to fly.

My previous train journey had me taking an Italian sleeper train to Paris, … dashing from one rail station to the next by public bus, … and connecting to a Dutch train to Amsterdam. All the French trains were on strike.

Yep, I missed my connection.

But if tourists need suffer to maintain the right of comrades to protest of the government increasing the retirement age from 60 to 62 (MERDE!), so be it.

Worse, age for pension from age 65 to 67. (MERDE MERDE!)


A car was set on fire as students and policemen clashed in Nanterre, a suburb of Paris, France on Oct. 18.

Sarkozy, are you an enemy of the people? … Off with your head.

Hey … You can’t make an omelette in France without smashing the chicken coop to smithereens for a few weeks.

Joie de Vie, mon Cheminots amis. I sing L’Internationale with you.

Note: Other travelers, like my friend Blythe, teaching English in France, are not nearly so open minded as moi.

Snake Oil in the Supermarket

On By Rick McIn economics, food, health & fitness, product complaints1 Comment

Scientific American on Greenwashing:

Food-makers should have to prove the validity of their health claims …

In March the U.S. Food and Drug Administration issued warning letters to 17 food and beverage manufacturers concerning false or misleading health and nutrition claims on their products. It was an unusually expansive crackdown for the agency, whose regulatory power over food companies has declined over the past decades, thanks to Congress and the courts, which have tended to come down on the side of the food companies. …

In 2006 Europe began holding food makers to rigorous scientific standards. Since then, the European Food Safety Authority has rejected, on the basis of insufficient evidence, a whopping 80 percent of the more than 900 claims they have assessed thus far. …

Differences between the lenient U.S. system and the more restrictive European system are easily apparent. For instance, visitors to the Web site for Activia (www.activia.com)—a yogurt product from Dannon—will have a very different experience depending on which country they indicate they are from. The U.S. version prominently displays the product’s putative health benefits, asserting that it can “help regulate your digestive system by helping reduce long intestinal transit time.” …

Snake Oil in the Supermarket

I assume over 80% of green packaging and health claims are tainted.

voluntary simplicity is trendy

On By Rick McIn economics, philosophy2 Comments

It was 1990 when Keith Russell first introduced me to the concept of voluntary simplicity aka simple living. He was researching construction of a log house in rural Saskatchewan.

Soon after I adopted it as my personal philosophy.

Garth linked to a related article in the Globe and Mail. Some of the talking points:

… the recession has forced many people to re-evaluate their consumption patterns …

… “Right-sizing” is how she describes her efforts to purge her 1,200-square-foot home of “stuff creep” …

… have nothing in your houses that you do not know to be useful or believe to be beautiful …

… Give Your Stuff Away Day …

… the Small House Society …

… Sheena Matheiken, a New York creative director who wore the same little black dress for 365 days …

read it – Keeping down with the Joneses

For one thing, we’ve got to get rid of some of these books! … Donate them to a library or something!

the stack shrinks

price of movie rental = $1

On By Rick McIn economics, moviesLeave a comment

The cost of infinitely reproducible digital ‘goods’, transferred via the web, will approach zero.

In the States, McDonalds has dropped the price on very good, fairly recent movies to a dollar a night. And that’s for a DVD with real production and transportation costs.

video kiosk at McDonalds

Some of the big Hollywood production houses try to fight Redbox. A losing battle, I predict.

I want to PAY for my motorcycle accident

On By Rick McIn economics, government4 Comments

Coming from Canada, I’m still shocked at the number of Americans riding hogs without helmets.

… Motorcycle helmets greatly reduce injuries and fatalities in motorcycle accidents, thus many countries have laws requiring acceptable helmets to be worn by motorcycle riders. These laws vary considerably, often exempting mopeds and other small-displacement bikes.

In some countries, most notably the USA and India, there is some opposition to compulsory helmet use …

Ah, right.

In America (and India) FREEDOM is more important than personal safety. Got it.

… Twenty-seven states have a motorcycle helmet law that only require some riders to wear a helmet. Three states (Illinois, Iowa, and New Hampshire) do not have a motorcycle helmet law. …

Current US motorcycle and bicycle helmet laws

I assume that people forfeit their government and/or corporate insurance if they take a fall without a helmet.

Head Injury

It would be idiotic to expect others to pay for my brain damage, self inflicted.

By the way, does riding a Harley Hog make you fat? … Cause and effect?

I need to start texting …

On By Rick McIn economics, friends5 Comments

Lest I become a dinosaur.

The cost of a cell phone and SMS plan compared to that of a computer and a broadband connection has made texting extremely popular in developing countries, and “unlimited messaging” plans have made it the communication medium of choice for teens everywhere (beating face-to-face conversation and e-mail in popularity). …

Mashable – The Rise of Text Messaging