Also in lieu of an editor’s choice I want you to simply pick which of these five choice interests you and make sure you read it. Check back this afternoon for a new haiku too!
The Amateur Financier talks about a basic economic term called “The Tragedy Of The Commons”. It’s best used to illustrate why we can’t seem to get control of certain aspects of economics. Today the best application of the tragedy is with the environment. Every year countries get together and promise to cut pollution but no one ever really follows through. Perhaps why this is can be explained by the tragedy.
Suburban Dollar showed his philosophical side by thinking out loud on the concept of judging people based on their financial situation. At first I thought I was holier than thou and didn’t do this because I’m generally not a nosy person. However I hear a lot from The Sheconomist about the finances of some of her friends. Then I do pass judgment, serious judgment too. So I don’t go out of my way to learn about one’s finances but once I do it does change my opinion of them. Ultimately I keep this opinion between The Sheconomist and myself and don’t allow it to impact my relationships with these people. What about you?
Thicken My Wallet initially attracted my with a headline “Personal Finance Blogs vs Mainstream Media”. Little did I know part of the inspiration for the post was my attack on Dennis Kneale. This post offers a clear view of the situation between blogs and traditional media. If you’re a regular reader of Weakonomics you need to read this post to see what a post looks like when it’s well-written an organized, something always missing from Weakonomics. At the end a point is made that blogs and media should be conveyors of information and not opinion. That’s the only place where I disagree. I think shared opinion is important even in the traditional media, however what is unacceptable is the business of sharing opinions. I find anyone who shares their opinion as a primary source of income to be useless to society. If you liked my attack on Kneale, don’t forget about when I went after Kiplinger.
The Wisdom Journal puts together some guidelines on what to expect from businesses in the near future. Since frugality is in and debt is out marketers will be adjusting their tactics to entice the consumer once again. A perfect example of this is Bank of America’s commercial for mortgages now where “mortgage” is never mentioned and they tout a simple one-page summary of everything you need to know about your loan. It’s a trend I see no problem with. Some will be designed to exploit, but some will be genuine. Regardless the marketing to consumers will be changing.
Details Magazine (a property of men.style.com) profiled a man that has been living without money since 2000. As a modern American I might look at him like a hobo, but his story really makes you feel like a material girl. He lives in a cave and uses no money. Though I wouldn’t advocate this behavior and prefer to link to blogs in these posts, this is perhaps one of the best things I’ve read all year. I was seriously moved.
Don’t miss the Carnival of Personal Finance this week at Poorer Than You. Every link is tied to a President. Coolio!
Budgets Are Sexy hosted the Carnival of Pecuniary Delights (which are older, but awesome posts) and themed it with internet lingo.
Suburban Dollar hosted the Money Hacks Carnival so be sure to check it out too. I’m featured in here twice, see if you can find where!