经济 | economics | 경제학 道德 | ethics | 윤리학

TED talk on economic inequality

Reading Time: < 1 minute

Interesting TED talk by Richard Wilkinson which has hard data on how economic disparity in society affects societal interaction and issues like health. I found the video player a bit unreliable so have also linked to it here.

It doesn’t provide any specific policy answers but it does start getting people to think about the right questions that need to be answered.

术语定义 | jargon watch | 용어의 정의 模因 | meme | 밈 经济 | economics | 경제학

Jargon watch: extreme couponing

Reading Time: < 1 minute

Extreme couponing – is a phrase that I came across in the Knowledge@Wharton newsletter to describe the way hard-pressed value conscious consumers in North America are using offline vouchers and online resources including comparison shopping and coupon websites to make their grocery spend to go further.

A combination of food price inflation, low-to-no wage growth and an uncertain economy with high unemployment has led consumers to change their shopping. Pharmacy chains like Walgreens have benefited from business previously done as a one-stop shop in the supermarket since they will accept coupons for personal hygiene and cleaning products. The big issue is for the major brand companies like General Mills, Unilever and Procter & Gamble who are seeing brand loyalty eroded.

Alongside an increase in coupon adoptions you are seeing bulk buying to hedge against inflation, rather than consumers trying to save the money itself in bank account.

More information:
Brand Disloyalty: Recession-weary Consumers Take Discounts to the Extreme

商业 | business | 상업 经济 | economics | 경제학

US economy concerns

Reading Time: < 1 minute

Reading through Ernst & Young Quarterly Oil and Gas Update on PR Newswire made some interesting reading. In particular, how demand for oil and gas were holding up in the face of economic uncertainty. Just how the US economy is doing was forcefully brought home in the chart below:
It will be interesting to see whether further developed nations economic decline will bring fuel demand back in line with the economic trends.