Had enough of the recession? Next time somebody pitches you something – whether or not you open your wallet – at least say thanks. Because economic growth is a story we tell one another. Transactions are its dialogue. And the authors of both are the master storytellers: salespeople. Before you tune out, consider this: Nothing happens until somebody sells someone something. And no matter what the rest of us do all day, our paychecks and prosperity rely on the efforts of salespeople. At some level, of course, everyone sells. Authors and academics (if they hope
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They’re the least popular constituency in America. People we’d rather forget. Last year, a record 1 in every 100 American adults was in prison. One in every 30 men aged 20 to 34. And among black males in that age group? One in 9. Why? Because America’s crime and punishment policies reflect an incoherent mix of motives: justice, retribution, vengeance, the illusion of expedience, the cruel bigotry of nonexistent expectations. And absent decent job training, counseling, and re-entry programs, the system only incites violence and invites recidivism. It’s past time to reconsider our approach to
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Would you sign a contract that says, “Any term can be changed at any time for any reason, including no reason”? Anyone who uses a credit card already has. Such are the absurd terms of the consumer credit-card industry, which is poised to be the next big crisis (after housing) that banks have aided and abetted in US households. Americans have now racked up nearly $1 trillion in credit-card debt. As housing equity shrinks and costs rise, agencies such as Moody’s report swelling numbers of accounts with balances three or more payments past due. Reinforced
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Have you ever wondered how the federal government can bail out banks and mortgage-holders, cut your taxes, try to protect Social Security, expand your Medicare benefits, and send you a stimulus check – all at the same time? These may be symptoms of an embarrassing condition afflicting political parties, banks, and households across America: Deficit Attention Disorder (DAD). Unchecked, normal individuals (as well as politicians and bank CEOs) afflicted by DAD start to believe in money that doesn’t exist. This silent assassin of fiscal sanity overheats your credit card, sells you a make-believe mortgage, makes
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In this series, we’ve unpacked popular myths about extreme poverty. We’ve looked at how we’ve gotten stuck. We’ve laid out some key levers for change. And we’ve considered the consequences of success. The developed world, well-motivated governments, and civil society among the last billion poor clearly have the means to eliminate extreme poverty in one lifetime. So, provided we have the will, where would we begin? We’d start by focusing rich-world financial and technical resources on the worst-off. Today wealthy nations and institutions sprinkle too little public money in too many countries like magic dust
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IMAGINE we wanted to create a huge Latino underclass in this country. We would induce more than 500,000 illegal immigrants to enter annually. We would see Latinos account for half of America’s population growth. We would turn a hardened eye toward all 44 million Latinos, because 12 million jumped our borders to meet our labor demand. We would financially motivate but morally deplore illegal immigrants’ determination to break our laws and risk their lives to work for us. We would let nativist, xenophobic amnesiacs pillory the roughly 25 percent of Latinos who were here illegally,
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