oikonomia

management of the household (community, society, humanity & biosphere) so as to increase its value to all members over the long run
oikos: household; and nomos: rules

Economics, social science concerned with the production, distribution, exchange, and consumption
of goods and services. Economists focus on the way in which individuals, groups, business enterprises,
and governments seek to achieve efficiently any economic objective they select. Other fields of study
also contribute to this knowledge: Psychology and ethics try to explain how objectives are formed;
history records changes in human objectives; sociology interprets human behavior in social contexts.
-Encarta

T12
Eeyore ponders a new career.
"Actually," Eeyore continued, "I'm thinking about a new career myself - personal growth and whatnot, and et ceteras, you know. I'm considering becoming an economist. Actually I didn't think of that myself. Owl suggested that I might be suited for it. He said someone called Thomas Carlyle said economics was the Dismal Science. That sounds most interesting."
-Winnie-the-Pooh On Success by Roger E. Allen & Stephen D. Allen

Wednesday, March 14

Leisure Time

An economic mystery: Why do the poor seem to have more free time than the rich?
http://www.slate.com/id/2161309/?GT1=9231

First, man does not live by bread alone. Our happiness depends partly on our incomes, but also on the time we spend with our friends, our hobbies, and our favorite TV shows. So, it's a good exercise in perspective to remember that by and large, the big winners in the income derby have been the small winners in the leisure derby, and vice versa.

As always, Jean

Labels:

Tuesday, January 9

Bellwether

Ma Bell is back. Should you be afraid?

http://www.slate.com/id/2156918/?GT1=9010


HAPPY NEW YEAR.

hola to any & all CJCians who stumble across this dying blog.

may you derive benefits from this public good, if only from the Econs jokes.
check out the links.

farewell, we may meet again.

Jean

Thursday, November 16

Health = Wealth

The Leaner You Are, the Richer You'll Get

JS

Friday, September 22

EMDCs Producing Fewer Skilled Workers than ELDCs

More graduates in the world have not, as some feared, created a glut. Wages for highly educated students have stayed the same or grown in all the OECD nations. And as technology has advanced, job market demands for advanced skills have, too.

http://encarta.msn.com/encnet/departments/adultlearning/?article=wealthynations&GT1=8536

JS

Wednesday, September 20

The Stock Market illustrated

Once upon a time, in a village a man appeared who announced to the villagers that he would buy monkeys for $10. The villagers, seeing that there were many monkeys, went out in the forest and started catching them.

The man bought thousands at $10. As supply started to diminish and villagers started to stop their effort he announced that now he would buy at $20.

This renewed the efforts of the villagers and they started catching monkeys again. Soon the supply diminished even further and people started going back to their farms.

The offer rate increased to $25 and the supply of monkeys became so low that it was an effort to even see a monkey let alone catch it.

The man now announced that he would buy monkeys at $50! However, since he had to go to the city on some business his assistant would now buy on behalf of the man.

In the absence of the man, the assistant told the villagers. "Look at all these monkeys in the big cage that the man has collected. I will sell them to you at $35 and when the man comes back, you can sell it to him for $50."

The villager squeezed up with all their savings to buy the monkeys.

Then they never saw the man nor his assistant, only monkeys everywhere!

from Littlespeck.com

Tuesday, September 5

No Grapes at this winery

No Grapes at Connecticut Fruit Winery

Instead, there are raspberry and blackberry bushes, black currant shrubs, cherry trees and rhubarb plants.



My father says he once smelt wine made from sewage sludge, by Japanese. Research to recycle sewage.

How about a glass of that?

Jean

Saturday, August 19

Blame US obesity on...

http://www.msnbc.msn.com/id/14415766/

But TV is just the beginning.

Linn: Pepsi and Coke, they both say that they do not market to children, I think under the age of 12. And there is a Pepsi car for kids as young as four.

Stone Phillips, Dateline anchor: Yeah, age four and up. (reading toy box)

Food is turned into toys — or attached to toys — or just squirts out like a toy like the latest ketchup bottles.

Phillips: The food plate and the toy shelf are starting to look a lot alike?

Linn: It's a merger, yes.

And then there's the Internet.

A growing number of popular online gaming sites are owned or sponsored by the food industry.

Lauren, panelist: The Nabisco site. My little brother's 13 and could live on that Web site. Like you just play. And it's like all the different snack foods are all fun games.

Children spend hours on these sites, exposed to what critics slam as stealth advertising, slipping past parents to reach the kids.

Linn: And, you know, what the industry does that is so distressing is that they really prey on parents' best intentions.

Like encouraging kids to read, or learn math.

Linn: (Holding up a Cheerios book) And if you look at the cover, the cover looks just like a box of cereal. The M&Ms book looks just like a box of M&Ms.

Companies say it helps kids learn. And there’s nothing wrong with that. But critics argue companies actually make a concerted effort not to help parents, but pit kids against parents.

Linn: In 1998, this company called Western Media International did a study on nagging. It was not a study to help parents cope with nagging. It was a study to help corporations help children nag more effectively.

Phillips: How many of you have heard the term nag factor? Or pester power? These are actual marketing terms, for targeting children with advertising.

Ken Robinson, father: Now I will break down quicker than my wife. So what happens, they’d rather ride or hang with me.

Kenbria Robinson: Yeah.

Ken Robinson: I'm guilty.

And many parents say the ultimate battleground is point-of-sale. Beware: the gauntlet of the cereal aisle!

There are a lot of familiar faces on cereal boxes: Shrek, Nemo, Batman, Dora, Woody from Toy Story, Barbie, SpongeBob Square Pants.

Madison Avenue calls them spokescharacters. Their licensing has become an enormous business.

...
Linn: It's easy to blame parents. It's not a level playing field. I mean how can one family take on, a ten to 12 billion dollar industry that's food marketing to kids? How can they do it?

The Picking Game: Kids & Brand Recognition

This is how business is done

Father: I want you to marry a girl of my choice
Son: "I will choose my own bride!"
Father: "But the girl is Bill Gates's daughter."
Son: "Well, in that case...ok"

Next Father approaches Bill Gates.
Father: "I have a husband for your daughter."
Bill Gates: "But my daughter is too young to marry!"
Father: "But this young man is a vice-president of the World
Bank."
Bill Gates: "Ah, in that case...ok"

Finally Father goes to see the president of the World Bank.
Father: "I have a young man to be recommended as a
vice-president."
President: "But I already have more vice-presidents than I
need!"
Father: "But this young man is Bill Gates's son-in-law."
President: "Ah, in that case...ok"

Moral:Even If you have nothing, You can get Anything. But your attitude should be positive

Marketing Concepts

1) You see a gorgeous girl at a party. You go up to her and say:

"I am very rich. Marry me!" - That's Direct Marketing

2) You're at a party with a bunch of friends and see a gorgeous girl.

One of your friends goes up to her and pointing at you says:

"He's very rich. Marry him." - That's Advertising

3) You see a gorgeous girl at a party. You go up to her and get her telephone number. The next day, you call and say:

"Hi, I'm very rich. Marry me." - That's Telemarketing

4) You're at a party and see gorgeous girl. You get up and straighten your tie, you walk up to her and pour her a drink, you open the door (of the car)for her, pick up her bag after she drops it, offer her ride and then say:

By the way, I'm rich. Will you marry me?" -

That's Public Relations

5) You're at a party and see gorgeous girl. She walks up to you and says:

You are very rich! Can you marry ! me?" -

That's B rand Recognition

6) You see a gorgeous girl at a party. You go up to her and say:

I am very rich. Marry me!" She gives you a nice hard slap on your face.

- That's Customer Feedback

7) You see a gorgeous girl at a party. You go up to her and say:

"I am very rich. Marry me!" And she introduces you to her husband.

- That's demand and supply gap

8) You see a gorgeous girl at a party. You go up to her and before you say anything, another person come and tell her: "I'm rich. Will you marry me?" and she goes with him - That's competition eating into your market share

9) You see a gorgeous girl at a party. You go up to her and before you say:

"I'm rich, Marry me!" your wife arrives. -

That's restriction for entering new markets

Ford Slashes 4Q Production

The automaker will cut vehicle production by 21% in the last three months of the year. With gas prices at $3, the company will lower the number of pickups and truck-based SUVs coming off the assembly line.

Ford Slashes 4Q Production

Wall Street is unimpressed
The stock market usually applauds radical cost cutting moves for money-losing companies, but shares of Ford fell more than 3% in morning trading.

...
Last week, TheStreet.com said Ford's announcement of a plan to start designing new cars by finally listening to what car buyers want was worthy of a spot in its "five dumbest things on Wall Street," noting: "Well, you've got to start somewhere."

JeanS