Economics @ ITT

Fast Food Workers Are Now Older

Posted in economics by ittecon on April 15, 2013

In times like these, even the educated have to settle. At least some employers do it right.

In-N-Out…starts its employees at $10 per hour and offers benefits. “We do enjoy lower turnover and that, of course, leads to a more experienced team working in our restaurants,” Carl Van Fleet, the vice president of planning and development at In-N-Out Burger, told NBC News via email. “Our associates do work pretty hard to make sure our customers have a great experience. A higher pay structure is helpful in making that happen but it is only part of our approach. It is equally important to us that we treat our associates well and maintain that positive working environment in all of our restaurants.”

via In tough economy, fast food workers grow old – In Plain Sight.

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Crowdsourcing Economic Research?

Posted in economics by ittecon on April 15, 2013

The typical household in rural Africa is “off the grid.” With no electricity, such households spend a significant fraction of their income on kerosene for lamps. Yet for about $20, they can buy a solar light, which provides a superior source of light and charges their cell phones.

via Freakonomics » Crowdsourcing Economics.

What you never knew about global wealth inequality

Posted in economics, Income Redistribution, International Economics, macroeconomics by ittecon on April 13, 2013

Do you think the United States is the only country that favours the affluent?

I though not. This short video infographic provides some insight.

Black Woman Pretends To Be White, Job Offers Skyrocket

Posted in economics, employment by ittecon on April 10, 2013

Pathetic, but still happening in 2013. Anyone else surprised by this? I didn’t think so.

Spivey then created a fake profile, with identical information [to her original profile indicating that she is “African American”], except that her fictitious job candidate was white, and was aptly named “Bianca White” (Bianca means “white” in Spanish). Suddenly, responses from employers came pouring in.

Black Woman Pretends To Be White, Job Offers Skyrocket (VIDEO) | Addicting Info.

Deftones Guitarist: ‘I Welcome People to Download Our Music’

Posted in economics by ittecon on April 9, 2013

Deftones guitarist Stephen Carpenter says he’s happy for people to download their music because it means they have more fans.

via Deftones Guitarist: ‘I Welcome People to Download Our Music’ | News @ Ultimate-Guitar.Com.

7 Reasons This Muffin Mix Can Save America

Posted in economics by ittecon on April 7, 2013

The CEO of this “obscure” company gets it. If only they’d source their products with non-GMO corn, I’d be shouting the praise even louder. So whilst I give this guy creds, I can’t buy his products. For those without a distaste for GMO products, you may still be happy with his ethics.

“Buy our products, or you won’t be happy or sexually fulfilled” is the implicit message that lies to us each time we turn on a TV or catch up on the latest news. Instead of trying to convince us what we should want, Jiffy simply does the right thing, and works to meet a genuine need for convenient wholesome food. The 30% to 52% off the final price that Jiffy saves not advertising or making flashy packaging is directly passed on to customers in the form of unusually low prices.

via 7 Reasons This Muffin Mix Can Save America.

Obama Riles His Own Party with Social Security Offer

Posted in economics by ittecon on April 7, 2013

It doesn’t matter that the president’s budgets are symbolic and largely ignored from a financial, accounting perspective. What matters is that this rhetoric frames the discussion—and it frames it the wrong way.

President Obama’s decision to include in the budget proposal he’s scheduled to unveil Wednesday a less generous way to calculate Social Security cost-of-living increases may be the clearest sign yet that his name will not again be on a presidential ballot.

via Obama Riles His Own Party With Social Security Offer : It’s All Politics : NPR.

Drew Barrymore Discovers Opportunity Costs

Posted in economics by ittecon on April 7, 2013

“It sucks when you’ve worked really hard for certain things and you have to give them up because you know that you’re going to miss out on your child’s upbringing, or you realize that your relationship has suffered,” says new mum, Drew Barrymore.

via New Mom Drew Barrymore Says Women Cant Have It All.

Stop Paying the Polluters

Posted in economics by ittecon on April 5, 2013

“When the winds of change blow,” says an old Chinese proverb, “some build walls, and others build wind mills.”

via Stop Paying the Polluters by Connie Hedegaard – Project Syndicate.

T-Mobile Breaks Free of Cellphone Contracts and Penalties

Posted in economics by ittecon on April 5, 2013

When you buy a cellphone — an iPhone or Android phone, let’s say — you pay $200. Now, the real price for that sophisticated piece of electronics is around $600. But Verizon, AT&T and Sprint are very thoughtful. They subsidize the phone. Your $200 is a down payment. You pay off the remaining $400 over the course of your two-year contract.

It’s just like buying a house or a car: you put some cash down and pay the rest in installments. Right?

via T-Mobile Breaks Free of Cellphone Contracts and Penalties – NYTimes.com.