Finance

The Case for Free Money or Universal Basic Income

Universal Basic Income

GENERATION GRUNDEINKOMMEN by STEFAN BOHRER
https://www.flickr.com/photos/generation-grundeinkommen/10577784143/in/photostream/

What is Universal Basic Income?

In the mid-nineteen-seventies, the Canadian province of Manitoba ran an unusual experiment: it started just handing out money to some of its citizens. The town of Dauphin, for instance, sent checks to thousands of residents every month, in order to guarantee that all of them received a basic income. The goal of the project, called Mincome, was to see what happened. Did people stop working? Did poor people spend foolishly and stay in poverty? But, after a Conservative government ended the project, in 1979, Mincome was buried. ecades later, Evelyn Forget, an economist at the University of Manitoba, dug up the numbers. nd what she found was that life in Dauphin improved markedly. Hospitalization rates fell. ore teen-agers stayed in school. And researchers who looked at Mincome’s impact on work rates discovered that they had barely dropped at all. The program had worked about as well as anyone could have hoped.

See the rest of the story about Universal Basic Income at newyorker.com

 

Why the Very Poor Have Become Poorer

The most obvious explanation for the increase in extreme poverty between 1996 and 2011 is that jobs were harder to find in 2011, but that is only half the story.

Eradicating Hunger With More Technology and Less Food

Eradicating Hunger With More Technology and Less Food

The World Food Programme is using technology to create a world in which is doesn’t, well, have to give away quite so much food.

 

CALL UP A mental image of the World Food Programme’s work, and you’ll most likely envision lines—endless lines of hungry people. Lines so long that field workers occasionally erect shelters to shield the waiting crowds from the scorching sun. Lines that, eventually, lead to towering piles of sacks stuffed with wheat and rice that must last those receiving them, and their families, for a month.

Such lines always have been considered a necessary evil of delivering aid to those who need it most. But the World Food Programme is working on technology that could make those lines—and even the food stations they lead to—a thing of the past.

 

 

The post Better Tech, Not More Food, Will Keep the World’s Poor Fed appeared first on WIRED.

 

Don Johnson, the Gambler who Won Atlantic City

Don Johnson, the Gambler who Won Atlantic City

Don Johnson won nearly $6 million playing blackjack in one night, single-handedly decimating the monthly revenue of Atlantic City’s Tropicana casino. Not long before that, he’d taken the Borgata for $5 million and Caesars for $4 million. Here’s how he did it:

DON JOHNSON FINDS IT HARD to remember the exact cards. Who could? At the height of his 12-hour blitz of the Tropicana casino in Atlantic City, New Jersey, last April, he was playing a hand of blackjack nearly every minute.

Dozens of spectators pressed against the glass of the high-roller pit. Inside, playing at a green-felt table opposite a black-vested dealer, a burly middle-aged man in a red cap and black Oregon State hoodie was wagering $100,000 a hand. Word spreads when the betting is that big. Johnson was on an amazing streak. The towers of chips stacked in front of him formed a colorful miniature skyline. His winning run had been picked up by the casino’s watchful overhead cameras and drawn the close scrutiny of the pit bosses. In just one hand, he remembers, he won $800,000.

Read more

 

 

How does a Hedge Fund Work

How Does a Hedge Fund Work

Ever wondered when hedge funds began and what their whole brouhaha was all about? This article seems to do just that.  By learning a short history of how these funds have operated, we get a glimpse into the future of the financial world that may be devoid of them.

IN FEBRUARY it emerged that nearly half of the richest hedge fund managers in Britain have donated a total of £10m ($14.8m) to the Conservative party since 2010. Labour, the opposition party, has accused the Tories of dishing out favours, such as a tax loophole, to their “hedge-fund friends”.

Read more about how these funds operate

Motif Investing, a Startup that Enables Customers to Invests in Ideas

Motif Investing, a Startup that Enables Customers to Invests in Ideas

Motif Investing, a startup founded by Hardeep Walia aims to change the way people invest in the stock market. Instead of cherry picking stocks and paying commissions on each trade, customers can invest in a ‘motif,’ which is an idea or a theme that consists of a collection of companies. They maybe oriented by investment strategies, asset classes, economic trends or just commonplace ideas that are economically viable. Motif Investing was founded in 2010 and has already attracted more than $80 million in VC funding.

 

Will Alibaba Become Bigger than Google or Apple?

Chinese Giant Alibaba Is Ready to Become the Next Google

 

 

When Alibaba goes public Friday, in what is widely expected to be the largest IPO ever, you’ll hear the same question over and over: Will the Chinese e-commerce giant expand into the U.S. and compete with Amazon?

But that question gets Alibaba all wrong. Yes, it sells stuff online, but this company is very much its own beast.

Will this company grow as big or surpass companies like Google, Facebook or Apple? Is this a fair comparison? To find out click here


Fungi Can Save the World From Climate Change Induced Food Shortages

Fungi Can Save the World From Climate Change Induced Food Shortages

 Fungi is posed to become mankind’s new best friend. From the overwhelming scientific research that supports the existence of climate change, we have learned about another looming danger humanity may face, which is acute food shortage. Adaptive Symbiotic Technologies, a startup based in Seattle is all set to fight this trend by harnessing the power of fungi so crops can withstand extreme climate conditions such as drought and flood.

Read more about how one company is trying to save the world from a looming food scarcity problem and reduce our reliance on harmful chemicals.

 



One Day A Bitcoin Could Be Worth $100,000

One Day A Bitcoin Could Be Worth $100,000

 

Chris Dixon who is a partner with the prestigious venture capital firm Andressen Horrowitz is amongst one of many tech entrepreneurs who considers the present day value of the bitcoin to be at a bargain price and that someday it could easily be worth over $100,000 . One reason for this price suggestion is on account of its finiteness, a number  which is estimated to be about 21 million. As this currency is already gaining popularity, it is estimated that its value will correspondingly surge . It already circulates without any nation based central regulation, a feature that has galvanized a legion of technology entrepreneurs, many of whom have leftist or libertarian political leanings.  

 

Just a year ago, a bitcoin was worth $13. And today, the same piece of digital currency is valued at more than $800 on popular online money exchanges. But Chris Dixon believes that’s still a serious bargain.

Read more about the $100,000 prediction for this crypto currency: 

 

Acorns The App That Invests Your Spare Change

Acorns The App That Invests Your Spare Change

Acorns is a mobile phone app that allows consumers to micro-invest tiny sums of money in the stock market. It’s akin to a dynamic investment portfolio that uses the spare change most of us would let sit around the house. Instead of a piggy bank where  money accumulates idly, this app automatically rounds off every purchase made on a credit or debit card to fund an investment. It has been developed by a father son team, Jeff and Walter Cruttenden who spent two years convincing regulators for permission and have been able to raise $9 million in financing so far. This company aims to attract the novice investor who is typically a millennial, and are considered to be the most fiscally conservative generation since the Great Depression. Millennial or not, most people since the recession are either dissuaded by or distrustful of all the financial jargon and complex procedures involved in setting up an investment portfolio. Acorns attempts to simplify this.      

To read more about this interesting app and to start investing click here: 

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