Tiny Tips

The Indian government has announced a drop in the number of poor people in the country by massaging the criteria used to measure poverty. By its reckoning, less than a dollar a day is enough to get by:

China has accused European workers of being ‘slothful’ and ‘indolent’ after refusing to put any of its vast resources into rescuing the euro. The head of the Chinese state’s overseas investment arm said he would only help Europe if it reformed its ‘outdated’ labour laws and welfare systems. Jin Liqun, chairman of the board of supervisors of China Investment Corporation, said Europeans should stop ‘languishing on the beach’ and work harder it they want to drag the eurozone out of its downward spiral. And he said Europeans have become too reliant on state handouts and should stop looking to outside sources to tackle the debt crisis threatening the euro:

In recent weeks, the U.S. Patent and Trademark Office has received a spate of applications from enterprising merchandisers, lawyers and others seeking to win exclusive commercial rights to such phrases as “We are the 99 percent,” ‘’Occupy” and “Occupy DC 2012.” Organizers of the protest centered in Manhattan’s Zuccotti Park went so far as to fi le for a trademark of “Occupy Wall Street” after several other applications connected to the demonstrations were fi led with the U.S. Patent and Trademark Office. Wylie Stecklow, a lawyer representing the protesters, said the Oct. 24 filing was done to prevent profi teering from a movement that many say is a protest of corporate greed:

Since the abolition of serfdom and human traffi cking more than 150 years ago, slavery is against the law in all countries on earth. And yet, according to the UK’s Anti Slavery International (ASI) there are still some 27 million people living in slavery, living at the mercy of landowners, earning virtually nothing:

“In 1917, average income — including capital gains — among the top 0.1 percent was 127 times the average income of the bottom 90 percent,” Professor Hacker said. “Average income among the top 0.01 percent was 509 times as great. In 2007, average income among the top 0.1 percent was 220 times average income among the bottom 90 percent. Average income among the top 0.01 percent was 1,080 times as great.”

The Occupy Wall Street movement has landed at Harvard University, where some 70 students walked out of an introductory economics class last week to protest what they saw as biased teachings. The students explained their walkout in an open letter to professor Greg Mankiw posted on the website of the Harvard Political Review. “Today, we are walking out of your class, Economics 10, in order to  express our discontent with the bias inherent in this introductory economics course,” they wrote. “We are deeply concerned about the way that this bias affects students, the University, and our greater  society.”

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