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Posts Tagged ‘Money & Finance’

Real-Life Money Tree

22 Jul


Photo: RaboDirect Australia [Flickr]

Money doesn't grow on trees. Or does it? As a publicity stunt, RaboDirect of Australia sponsored a stunt where a tree in a park in Sydney is festooned with real $5 bills:

An Overview of Responses:

Lost Opportunity
In the early stages, almost 100 people passed the tree without noticing that anything was different. Even when a group of joggers noticed, they were too busy to stop. The first groups who eventually stopped to interact couldn’t believe it. They inspected the notes and took pictures, but left empty handed.

Follow the Crowd
Only once one brave participant started taking the money, did momentum gather. Legitimised by the crowd, a wide spectrum of behaviour ensued.

Frugality
Some took just one or two notes, satisfied by their modest and unexpected gains.

Opportunist
Consumed by the fantasy, a group of braver participants made the most of the opportunity by filling their pockets.

Employing Tools and Working Together
When the low hanging $5 notes were depleted, participants employed tools such as swinging coats and umbrellas, to help them reach higher branches. Teamwork also came into play as spectators formed human pyramids to reach the notes seemingly out of reach.

Altruism
Perhaps the most comforting observation from the participants was that of altruism. Taller participants shared their earnings with shorter spectators, while one gentleman on identifying the undercover observation team, requested his money be donated to charity.

Link [with video clip] - via Marketing Alternatif

 
 

Is Manufacturing the Answer to America’s Economic Crisis?

02 Jul

In this era of global economic downturn, two countries, Germany and China, aren’t doing too shabbily. Now they can’t be further apart: Germany is a stable democracy with a mature economy and China is an authoritarian government with a nascent yet rapidly growing economy.

So, why are they surviving the recession better than the rest of us? Harold Meyerson of the Washington Post suggests an interesting answer: It’s The Factories, Stupid.

What sets them apart from the world’s other major powers, purely and simply, is manufacturing. Their predominantly industrial economies meet their own needs and those of other nations, and have made them flourish while others flounder. [...]

For the past three decades, with few exceptions, America’s CEOs, financiers, establishment economists and editorialists assured us that the transition from a manufacturing to a post-industrial economy was both inevitable and positive: American workers would move to more productive jobs, and the nation’s financial security would only grow. But after rising steadily during the quarter-century following World War II, wages have stagnated since the manufacturing sector began to contract.

Harold went on to explain why most Americans are wrong when thinking that we can’t compete with China’s cheap labor (after all, Germany’s labor cost is even more expensive than ours): Link