National / International News
Instant gratification is the norm in today's economy. Online shopping, instant downloads, and increasingly-speedy delivery times all contribute to a want it now, get it now mentality that drives our spending and consumption.
But what happens if you wait for something? According to Elizabeth Dunn, a professor of psychology at the University of British Columbia in Vancouver, you might enjoy it more.
A 2010 study in the Netherlands found that people surveyed before a vacation were happier than those surveyed right after a vacation, and even people on vacation. In that period of anticipation, waiting for the trip, people could imagine a perfect ideal, something that would likely not exist in reality.
This kind of thinking inspires Pinterest boards of dream weddings, makes watching French TV shows and listening to Edith Piaf before a trip to Paris exciting.
Dunn says that the period of anticipation while waiting for an experience is a form of free enjoyment -- a chance to maximize the time spent appreciating something you've already paid for.
The same goes for smaller purchases -- new clothes, a visit to a restaurant -- and big financial hurdles. Dunn says that the same principles that allow people to enjoy the time before a vacation could be applied to a college savings account, or a retirement fund.
The key, Dunn says, is to make things more concrete: the details matter.
Media reports this week said the Tanzanian government was going to go after "witch doctors" who attack albinos. But what, exactly, is a "witch doctor"? And why are they targeting people with albinism?
Throughout the recession a lot of Americans had work histories filled with gaps.
Bill Marshall is having one now.
It began this July when he was laid off from his job at the Philadelphia Museum of Art.
Marshall speaks to Marketplace Weekend from his home in Devon, Pennsylvania.
He's says learned a lot from his gap, but he starts with one dreaded question.
In a joint press conference with British Prime Minister David Cameron, President Obama also urged Congress to keep out of the negotiations with Iran.
Wealth and income inequality has inspired discussion and sparked debate among economists for years. As these gaps widen in many global economies, the question of whether income and wealth inequality slow growth, and whether the gaps should be closed through policy, becomes more pointed.
Branko Milanovic, a professor at The Graduate Center at the City University of New York and the former lead researcher on inequality for the World Bank, joined Lizzie O'Leary to discuss income and wealth inequality globally.
Milanovic measures inequality worldwide through anonymous surveys, creating a global picture of what wealth and income gaps look like. Each country is assigned a score that ranks inequality in both income and wealth.
Wealth gaps, which measure accumulated wealth through investments and savings, are almost always larger and more significant than income gaps. Even the poorest citizens in the poorest nations are unlikely to be entirely without income, but are frequently without wealth.
So how should we address inequality?
Milanovic says that the consequences for these gaps are complicated, because there's no world government to regulate income and wealth distribution worldwide.
Within nations, modifications to social structures and policy can correct for systemic inequalities. Milanovic cites education, voting rights, and race and gender discrimination as touchstones that individual countries can address to quell income and wage gaps.
Globally, things are trickier. Migration is a key factor in global inequality, and is a major obstacle to overcome in places where border relationships are tense.
Milanovic says that future global income and wealth inequality is also dependent upon growth in China and India -- two places where large income and wealth gaps haven't slowed economic expansion.
Tune in to the segment using the player above to hear more of Branko Milanovic's thoughts on wealth and income gaps in the global economy, and to hear the story of two people living and working in China who are experiencing the gaps there firsthand.
The deal between the NCAA and the university would restore the 112 wins from 1998 through 2011 that were thrown out amid the Jerry Sandusky child molestation scandal.
A growing number of food vendors are literally pedaling their wares. From baristas to veggie farmers, many say bikes are a cheaper, greener, more convenient way to launch their mobile food businesses.
Facing more than a dozen claims of sexual abuse by priests, the archdiocese says it needs protection to reorganize. 11 other U.S. dioceses have filed bankruptcy since 2004.