Have you been refused a payday loan? Share your experiences

By Guardian readers

We’d like to find out if tougher rules on payday loans mean some borrowers are now being turned down by lenders. Share your experiences via GuardianWitness

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From:: Personal finance and money news, analysis and comment – theguardian.com

Posted in News

Markets of the mind

By Tony Curzon Price

Debt and guilt have much in common. It’s time we found better ways of organising both ourselves and the economy.

Credit: http://www.indiainfoline.com. All
rights reserved.

Feeling guilty and being
over-indebted have much in common. You’ve done something wrong and now you’re
paying for it. The feeling of guilt is a flow of pain due to you from past
recklessness, maybe from your original sin. The flow might abate if only you
could redeem yourself. You’re all set up to beg forgiveness. A payment is due,
and if only you’d do your duty, you’d pay your dues, the pain might just abate. The language of guilt and debt seem inseparable: redeem, forgive, bondage, dues…

Gilder, onetime business guru, evangelical Christian and speechwriter to Richard Nixon, was a
prophet of the virtues of massive debt for companies. His logic would have
appealed to the protestant theologian and autocrat John
Calvin. When you pile a company high with debt—up to the maximum that its
financial projections will allow—the chief executive will have just one purpose
to his day: to fulfill his promises; to meet the monthly installment. And if he
doesn’t (it usually is a ‘he’), he’ll have to confront a stern and wrathful
investor. That investor is, in Goldamn Sachs CEO Lloyd Blankfein’s entirely
non-ironic formulation, “Just doing God’s work.” To make the payment or else … that’s exactly the motivational structure of the guilty mind: there’ll be hell to pay if I don’t perform.

Here’s the trick to
God’s work: you give the executive a good salary and an equity stake—the promise
of life after the toil and hardship below. That makes life on the right side of judgement pretty good now and excellent in prospect. You’ve got a lot to lose. But if you miss the debt payment,
it’s …read more

From:: OpenEconomy

Posted in Economics Tagged with:

Trade unions including Bharatiya Mazdoor Sangh likely to call strike for … – Economic Times

Economic Times
The members of the panel are: Finance Minister Arun Jaitley, Labour Minister Bandaru Dattatreya, Power Minister Piyush Goyal, Oil Minister Dharmendra Pradhan and Minister of State, Prime Minister’s Office, Jitendra Singh. Earlier this month, the Labour …
Govt sets up inter-ministerial to address demands of trade unionsKnn India

all 9 news articles …read more

From:: Social Finance – Google Alert

Posted in Economics Tagged with:

Business thrives in Palestinian village despite occupation woes

Today, Beit Doqu serves as a sustainable economic model for the other Palestinian communities in the enclave. “We emerged as the strongest, most … …read more

From:: Sustainable Economy – Google Alert

Posted in Economics Tagged with:

Corporate Media Doublethink and the Bush-PNAC-9/11-Iraq Connection

By Prof. James F. Tracy “Doublethink,” George Orwell famously remarked, “means the power of holding two contradictory beliefs in one’s mind simultaneously, and accepting both of them.”
The corporate news media similarly tend toward selective recall when approaching and interpreting crucial facts of national and… …read more

From:: Global Research

Posted in Monetary Reform

Mapping Environmental Injustice

By Triplecrisis

zwickl fig1

Race, class and industrial air pollution

Klara Zwickl, Michael Ash, and James K. Boyce

America’s corporate polluters are not color-blind. Nor are they oblivious to distinctions of class. Studies of environmental inequality have shown that minorities and low-income communities often bear disproportionate pollution burdens (for overviews, see Ringquist 2005 and Mohai et al. 2006). In other words, rather than being an impersonal “externality” randomly distributed across the population, the distribution of pollution mirrors the distribution of power and wealth.

These disparities result from decisions by firms to site hazardous facilities in the most vulnerable communities and from decisions by government regulators to put lower priority on environmental enforcement in these communities. To some extent, the disparities may also reflect demographic changes as pollution leads affluent people to move out, neighborhood property values to fall, and poorer households to move in. But even after controlling for income differences, racial and ethnic minorities typically face higher pollution burdens, a finding that implies that disparities are a result of differences in political power as well as purchasing power (Boyce 2007).

But the US is a big country, and it is not homogenous. Electoral politics, social movements, industrial structure, residential segregation, and even laws and regulations differ greatly across the regions. The extent and pattern of environmental inequalities may vary, too.

In a recent study (Zwickl et al. 2014), we examine regional variations to tackle two key questions. First, is minority status or income more important in explaining environmental disparities? Second, is higher income equally protective for whites and minorities in affecting pollution exposure?

In our study we use a US Environmental Protection Agency database called the Risk-Screening Environmental Indicators (RSEI). These data can be traced to the demands of environmental advocates for disclosure of information on the hazards faced by communities in the wake of the tragic …read more

From:: TripleCrisis

Posted in Economics Tagged with: