Is Romney's son betraying his father for an investment?
The son of US presidential candidate Mitt Romney visited Moscow this week, writes The New York Times. One of the candidate’s five sons, Matthew Romney, allegedly was looking for Russian…

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How Mayans and Cherokee helped insurers
Insurance at first glance seems to be a serious form of economic relations, designed to protect people, their property and affairs from all sorts of dangers. However, if you dig…

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100 facts about life and business from a venture investor
Alexander Zhurba, Managing Director and Co-Founder of Genezis Capital Fund, formulated 100 facts that he learned by the age of 27 about life and business. Recommended reading, it's worth it.…

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according to the results

“Banks of time” crowd out money

“Banks of time” crowd out money
While economists around the world are wondering if the second wave of the crisis will cover us, the townsfolk are coming up with their own ways to withstand possible perturbations in the economy. One of them is the spread of such a form of alternative economic relations as the “time bank”. Although they were invented in the USSR, the development of “time banks” was received in the USA and Great Britain.

The idea to use as a currency not some conventional pieces of paper and pieces of metal, but an intangible, but the only unit of time for the whole world – an hour, was first put forward in 1976 by the Soviet psychologist and engineer Vladlen Livshits. A year later, the world’s first “time bank” was created on the basis of the bakery in Kohtla-Järve. Employees of the enterprise were transferred to a flexible work schedule, one of the fundamental principles of their activity was active and mutual assistance to colleagues, and then to employees of other organizations – the local scientific research institutes of shale and thermal power plants. After the American journalist David Shipler got acquainted with the unusual production experience of Soviet bakers and stokers, the idea of ​​Livshits was developed in the United States. Continue reading

Cash makes us even poorer

Do you want, as the grandfather of the heroine of one joke, “so that there are no poor”? Take away their money. In particular, cash – coins and pieces of paper. It is the despicable metal, which is in the hands of low-income citizens, and is their worst enemy. On the one hand, it is difficult to consider money as a problem if you can afford to heat a fireplace with them, for example.

Sometimes it seems that all we lack for complete happiness is a certain amount of multi-colored pieces of paper with watermarks. Saying yes to money, you say no to poverty – everything seems to be logical. A bundle of notes in a box with socks is seen only as a guarantee of a comfortable life and carefree old age.

The irony is that most people who love cash and get used to it, do not deny themselves the pleasure of using electronic money. Even those who are demented as credit cards are still buying magnetic cards to travel by public transport, use discount cards when shopping, have a bank account and try to pay for utility bills through terminals so as not to lose time in queues. Of course, it’s difficult to do without cash at all – you never know, you will need to leave a waiter for tea or buy a bottle of water in a stall. But, by and large, the better you feel financially, the less you need cash and the easier it is to avoid having to use it. Continue reading

Dummy for a million, or strange lots

“To sell something unnecessary, you need to buy something unnecessary,” the hero of the legendary Soviet cartoon used to say. Auctions on the Internet have become an excellent platform for trading strange goods, buyers for which it would be impossible to find without the World Wide Web. We give examples of the most unusual purchases “under the hammer” in the history of auctions.

One of the strangest lots recently left the popular eBay auction. A woman from Iowa purchased a piece of fried chicken, in the structure of which, with the imagination and sufficient practice in examining Rorschach’s spots, one can see the profile of American President Washington. On this perishable “artifact” there was a buyer who did not regret 8.1 thousand US dollars for a nugget. The fried chicken has been kept by the lady since 2009.

But the real record, 28 thousand dollars, was achieved during the bidding for a rotten bitten cheese sandwich, on which you can allegedly see the image of the Virgin Mary. The sandwich was 10 years old at the time of the sale, but it was destined to be almost eternal: GoldenPalace.com, the company that bought the rot, said that the price of moldy organics would rise. After some time, another seller tried to test the demand for food architecture, but the chip in the shape of a seahorse did not cause much excitement. Continue reading

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