money

Floored

annette — Wed, 13 Apr 2011 08:00:00 +0000

What do you get when you cross a documentary film about the supply and demand frenzy of the Chicago Stock Exchange with a borderline Marxist, feminist film critic? A whole lot of screaming. But that’s really just happening on screen during Floored, the new movie from director James Allen Smith (My Name is Smith), which presents Chicago traders and their associates telling stories of how it felt to be in “the pits” during the “glory days” before the boom of Internet trading and the recession of late, risking their clients’ (and often their own) money. As for the room where I was sitting, there was silence and a yawn. This liberal wasn’t shocked or amused by a showcase of the distinctly capitalist obsession with money.

Smith does everything by the book: he knows who to interview, and where, and how. It’s not enough that the men who used to trade tell us about how much they love money (one couldn’t be away from the floor on vacation with his wife and children because he missed the possibility of acquiring greater wealth too much); we must see their other obsessions: cigarettes, booze, status symbols (Rolex watches, fast cars, large homes, decorative companions such as models and porn stars, etc.) and phallic symbols (guns, golf clubs, cigars, etc.). We must visualize their aggression to understand how their circumstances were; and only then can we understand how even the most successful traders turned out looking and sounding as foul as Mickey Rourke—on his worst day.

“It’s just not any fun… unless you can die,” one former trader says of hunting. But is he really just talking about hunting? He could as easily have said, “It’s just not any fun… unless you can go broke.” These men–and an estimated four women–of the trade are gamblers. They get a high from risking big and winning big. They get off on fear and anticipation. And when they think about winning and losing $100,000, they’re not thinking the things your average 9-to-5er is when he or she goes off to work: how will I pay my utility expenses, my taxes, my mortgage bill; will my health insurance cover my doctors visit/prescription drugs/surgery, etc.? There’s too much loud, naked—and yes, male—aggression in the air to be concerned with anything other than shouting, pushing, waving and clawing one’s way to fortune. The emphasis in stock trading wealth acquisition is less about how much you can spend at the end of the day, and more about how big a pile of cash you’ve managed to hoard.

Of course, there’s a token female trader, who has (fittingly) made a graceful transition to electronic trading. She poetically mentions Darwinism when she talks about the shift. (You’re forced to picture apes foraging for food, grunting and beating their chests before the glow of computer monitors.) And it is, of course, a female psychotherapist who helps the “guys” evolve into electronic traders, even after they feel like they’ve lost their mojo. The Internet has robbed them of the game, many feel. It’s “the most vile invention in the world” that allows “evil” people to cheat at trading. As the film depicts, computer trading is certainly more sedate than open outcry on the floor.

Could the juxtaposition of self-contained, successful women against a pile of sweaty, angry and ultimately unhappy male former stock traders be a little too conveniently giving viewers the sense that men are predisposed to aggressive behavior and ruin in its wake? Yes. But as anyone who’s ever walked by the boys’ locker room after a crushing defeat on the football field knows: boys will be boys. (That is to say: masculine boys will be masculine.)

Floored doesn’t really offer up anything new or exciting, but it does confirm the essentialism we collectively already subscribe to. A better movie, Enron: The Smartest Guys in the Room, confirms the same information, condemns the ethics of unscrupulous capitalists, and keeps you glued to the screen.

Written by: Rachel Moehl, April 13th 2011

MILK (5/1/2010)

admin — Wed, 05 May 2010 08:00:00 +0000

HERE Arts Center

New York, New York

Emily DeVoti’s provocative two-act play, MILK, opens in a spare farmhouse kitchen. It’s 1984. Ronald Reagan has just been elected US president and local newscasters seem to have nothing good to report. Meg (played by Jordan Baker), a former mathematician who loves precision and order, and her husband Ben (Jon Krupp), a former investigative reporter, are sitting at the table and talking, but it’s the kind of tense conversation that can quickly turn from controlled anger to fierce argument.

Things are bad, very bad. A drought has made dairy production virtually impossible, and land that’s been in Meg’s family for centuries is now on the cusp of foreclosure. On top of this, their college-aged daughter—who is never seen but is referenced at key moments in the play—wants to be an actress and their fourteen-year-old son Matt (Noah Robbins) wants material things his parents cannot possibly afford: name-brand sneakers, CDs, a bedside color TV, and stylish clothes, among them. Worse, there’s a city slicker on the prowl, and he’s made no bones about wanting to “help” Meg and Ben ease their financial woes. Ben thinks it’s good idea, "a gift from God"; Meg doesn’t.

Ben wins.

By the time businessman James (Peter Bradbury) and his teenaged daughter, Veronica (Anna Kull), arrive on the scene—in a private plane, no less—things have deteriorated even further. But James couldn't care less about the family’s personal difficulties. Instead, he’s turning his managerial acumen to improving the farm’s productivity. Although he knows nothing about cows, he hatches a plan that, on paper, will foster unprecedented growth and save the day: importing “wild, hairy, horned” bulls to impregnate the many heifers dotting the pastoral landscape.

As you have probably guessed, things don’t pan out as James—or Ben or a reluctant Meg—expect. While the second act of the play is far weaker than the first, the excellent cast, including Caroline Baeumler as Auroch, a talking bovine the Program Notes describe as “quite possibly the last living wild cow,” briefly explore a number of evocative themes including monetary pressures; urban versus rural lifestyles; marital fidelity; self-sacrifice; coming of age; and the festering ache that often accompanies keeping silent about things that matter.

In fact, by the time Veronica tearfully confides her father’s secrets to Matt, the pathos is so intense that James instantly morphs into someone less repugnant. In the end, while we may revile Matt politically, DeVoti renders him a multidimensional personality who is deserving of compassion.

There are no easy answers in MILK. Indeed, as the world changes, some customs and practices inevitably become obsolete and are replaced by newer rituals and activities. The key is figuring out which pieces of cultural and personal history to retain and which to let go.

At one point, Meg looks into a bucket of unpasteurized milk and declares that “the pure stuff, it corrupts so easily.” Maybe so. MILK asks its viewers to think about what’s negotiable and what isn’t. Regardless of what is ultimately decided, one thing is certain: after watching this well-executed play, urban audiences will think about cows in a whole new way.

Photo credit: Jim Baldassare

Written by: Eleanor J. Bader, May 5th 2010

Breadwinners: Working Women and Economic Independence 1865-1920

admin — Sun, 21 Feb 2010 17:01:00 +0000

By Lara Vapnek

University of Illinois Press

My take on wages parallels my elementary understanding of the laws of quantum mechanics versus those of Newtonian physics. Come the revolution, wages won’t be necessary; but now, different rules apply. With bills to pay, I want money. Earning one’s own money brings self-respect and a sense of independence. It beats charity or being a dependent in a family. Many of the working women profiled in Breadwinners certainly shared this opinion, as does the author herself.

This history, one in the Women in American History series, takes for its subject the large-scale entry of women into the workforce over the years 1865 to 1920. Between 1870 and 1890, the number of women working for wages, outside of agriculture, doubled. The period covered by Breadwinners was marked by industrialization and urbanization and encompassed the rise of unfettered capitalism and development of the women’s suffrage and union movements. The exploitation of workers under the industrial system, discrimination against women workers in jobs and wages, and society’s expectations of women all impinged on this “great transformation.” Lara Vapnek focuses on the working women of Boston, New York, and Chicago and tells their stories through very human profiles of the few working women who left a historical trace. Each chapter illustrates a step, or rather a facet, of this historical change.

My favorite working woman is Aurora Phelps, who had an idea called Garden Homesteads (think urban agriculture with a feminist twist). She wanted women, who had sacrificed much during the Civil War, to have their own plots near the city where they could obtain subsistence by selling produce—and also work in the cooperative laundry. The scheme didn’t really get off the ground; the state would not grant the women free land, though sixty acres were eventually purchased through subscriptions. It stands out because it allowed for ownership of the means of production, provided an alternative to the masculine option of “Westward Ho,” and worked against transformation of small-scale producers into the “free labor” commodity that was part of the capitalist revolution. In short, Phelps’s project would have made working for wages less necessary.

A recurrent theme is how native-born White women, and then immigrants, fled from domestic service. Middle class women complained that they could not get good help—and had to “settle” for African American maids and nurses. Because of racial discrimination, African American women were excluded from jobs as clerks, industrial workers, and waitresses. Women wanted defined working hours and their own lodgings—in short, independence. Blinded to their own defects as employers, and by their presumption that domestic labor was women’s work, middle class women didn’t understand this desire.

As state governments started to track labor statistics, domestic workers (and prostitutes) were arbitrarily not included as working women, the thinking being that “domestic labor” was woman’s "natural" sphere. This exclusion is echoed today in the continuing efforts of domestic workers to be included in labor legislation. Women, working in professions largely closed to them in the past, now need nannies to care for their children while they work.

Vapnek teases out the complications: the impetus to protect women from the brutalities of industrialization, the sexism of organized labor, the working class woman’s perspective on political rights, and ethical consumerism, and boycotts. She writes with directness about the class rifts that emerged in social movements and the difficulties of women workers trying to keep their own organizations from being hijacked by more affluent supporters who “know better.”

Sadly, this problem continues today. As demonstrated by the contributors to the anthology The Revolution Will Not Be Funded, no matter the arena or supposed intent, money shapes the agenda, rather than those impacted. I can’t wait until working people, not just their labor, are valued, and—I can dream—wages don’t mean so much.

Written by: Frances Chapman, February 21st 2010

The Witch’s Coin: Prosperity and Money Magick

admin — Sat, 06 Feb 2010 01:00:00 +0000

By Christopher Penzcak

Llewellyn Worldwide

What if you were given the opportunity to not only overcome your financial burdens, but still have enough money to spare? After ending a year filled with recession woes, 2010 is a time of hope for many of us. According to award-winning author Christopher Penczak, anyone can now earn a little green with the help of Mother Nature. In his latest book, The Witch's Coin, readers can transform poverty into prosperity through spells and lessons in Finance 101. While this book will appeal to pagans who are familiar with using herbs, candles, and oils to help better their lives, those who need guidance will greatly benefit from the many lessons Penczak provides. The Witch's Coin is a must-have for a new year of possibilities.

Penczak is no stranger to readers following the pagan religious tradition. As an eclectic Wiccan, he’s published several books that teach the basics of witchcraft, including The Inner Temple of Witchcraft and City Magick. Therefore, it comes as no surprise that Penczak would finally release a book on managing one’s finances through spell work, a misunderstood subject that can be as complex as improving one’s love life. Sadly, when someone is suffering from a credit crunch, carefully wording a “prayer” to the universe can be the last thing on our minds. Fortunately, Penczak breaks down the rules of how one can learn to open up opportunities for themselves.

“Just because society sets a standard and you desire it, there is nothing evil or wrong with that desire, as long as you are clear and unattached with that desire,” he states. “New cars, big homes, vacations, and big investments are not good or bad by themselves.” Most importantly, we must learn to have balance in our lives for any spell to work. After all, what would be the purpose of having money if we can’t better ourselves with it? Finally paying off those credit card debts is a major step, but also putting some cash aside to pursue a lifelong passion that can open new doors is also another way to use magic for positive results. Best of all, Penzcak reveals numerous ways on how we can create our paths to financial victory.

One of the many wonderful things Penzcak provides in The Witch's Coin are easy-to-follow spells that not only help attract positive energy, but also assist readers in better understanding their goals. He recommends simply writing out our desires, which is a way for us to visually see what we need to make happen. “Ask for what you want, not necessarily the exact circumstance of how to get it,” he explains. “In the preceding spell, I asked for a job that is acceptable to me, fulfilling my personal criteria, and advancing my career. I didn’t ask for a specific position in a specific company. I could have, but that would close the doors to many opportunities that my magick could have manifested.”

In addition, Penzcak includes recipes for “money attraction incense” and even a “milk and honey bath,” all encompassing herbs have been used for hundreds of years. Who wouldn’t want to relax with fresh ginger and orange peel to calm our bodies and clear our minds? According to Penzcak, the scent of rich cinnamon and clove alone can “expand your consciousness, rather than contract fear and tension” when balancing the checkbook. Even if you’re creating a charm to obtain a new job, he notes, “Focus on what you want, not on what you don’t want.” Whether you’re a pagan practitioner or not, anyone can benefit from advice on realizing what we want for ourselves and how dreams can become a reality.

Real magic comes from within and goals can only come alive with work and determination. This seems obvious, but too few believe in it. Whether you’re looking to pay off pesky bills or going job hunting, The Witch's Coin is a timely hit on covering the one topic everyone should master.

Written by: Stephanie Nolasco, February 5th 2010

Philanthrocapitalism: How the Rich Can Save The World

admin — Thu, 10 Sep 2009 17:22:00 +0000

By Matthew Bishop, Michael Green

Bloomsbury Press

If the adage about giving a woman a fish only feeding her for a day, but teaching her to fish feeds her for life is true, then Matthew Bishop and Michael Green would argue that the nature of today’s philanthropic giving has taken a similar turn by creating a standard and strategy of giving that doesn’t simply donate—it leverages, it grows, it profits, and it multiplies.

In Philanthrocapitalism, through a series of interviews with notable wealthy donors like Bill and Melinda Gates, Warren Buffet, and even Angelina Jolie, the pair argues that philanthropy has taken on a new shape. Though giving as a trade has been around for sometime (Bishop and Green mark the merchants of Tudor England and Renaissance Europe as among the first philanthropists), they argue today’s new philanthropists were born of an era of highly lucrative capitalism and as a result “are trying to apply the secrets behind that money-making success to their giving,” and earning them the title “Philanthrocapitalists.”

The giving is notable, of course. The authors begin with Warren Buffet’s incredible public donation of more than $37 billion dollars of his fortune, comparing it to the prior year’s $31 billion dollar donation from Bill and Melinda Gates. At stake, the authors argue, for many of these donors, is their challenge to one another to continue to give and to continue to up the ante. The leveraging of funds—positioning dollars to begin or shore up projects and using corporate business sense to keep the money coming and the project growing—is the newest incarnation of giving. The authors argue, it’s new, it’s innovative, and it’s working.

Philanthrocapitalism is a combination tutorial on philanthropy’s history and good works and contemporary business and investing. The constant parallels to solid business stamina and strategy are necessary to explain how contemporary givers are able to do so and in order to highlight the unique ways they donate. It is also, however, a useful tutorial to anyone investing, $37 billion or simply $3,700. The writing style of the authors allows even the algebra apprehensive to understand leveraging practices and money growth. The coupling of business with the heartwarming and important stories of empathy and need also highlight the unending need for donation.

Key also to Philanthrocapitalism, though published in 2008 and its statistics and information necessarily assembled prior to that, is its timing. The current economic downturn is free marketing for Bishop and Green’s overarching argument that in a capitalist framework, the need for philanthropy is unending, necessarily political and is to be counted on as a source of revenue for any number of social programs.

This analysis is highly informative, if not disturbing, because it showcases a capitalist privileging of wealth that isn’t simply about consumerism. The philanthrocapitalists are choosing charities that not only make a difference, but that can be successful and it begs the question: who decides and how do the new definitions of need get crafted? Is it to be based on quarterly reports and evidence of growth? Or is it to be based on tangible human qualities like fed children, cleaner water and savvier school children? If giving is to be a business, who decides what the bottom line should be?

Written by: Dr. Julie E. Ferris, September 10th 2009

State Quarter Necklace

admin — Sun, 09 Aug 2009 23:18:00 +0000

By Wabisabi Brooklyn

Readers, Wabisabi Brooklyn’s State Quarter Necklace has got me feeling conflicted. You see, I've always had a fondness for small acts of rebellion: sneaking a few beers as a teenager, slapping "this is offensive to women" stickers on public advertisements, getting it on in the coed bathroom at an indie rock show. I know these things aren't going to change the world, but a little transgression makes for funny stories and hours of mischievous entertainment. So you'd think I'd be down with a necklace that is evidence of a minor crime against the U.S. Treasury—and yeah, for the most part, I am.

Having drilled two small holes through the quarter on either side of Colorado, Wabisabi designer MaryAnne LoVerme affixes an 18-inch copper chain to the coin, which positions it just below the sternal notch. A tiny gold star and company stamp are attached to the chain near the lobster claw clasp, which increases the ease with which the necklace can be put on or removed.

As the company's name, according to LoVerme, means "beauty of imperfection" in Japanese, the silver-copper color contrast perfectly suits her design aesthetic. LoVerme says she works with coins in order to "imbue jewelry with an element of chance and luck," and luck is something she'd better have on her side on the off-chance that the secret service takes issue with her creative liberties. Those folks don't mess around:

Whoever mutilates, cuts, disfigures, perforates, unites or cements together, or does any other thing to any bank bill, draft, note, or other evidence of debt issued by any national banking association, Federal Reserve Bank, or Federal Reserve System, with intent to render such item(s) unfit to be reissued, shall be fined not more than $100 or imprisoned not more than six months, or both.

This necklace is cute, but it ain't $100 or six months in jail cute.

Another thing that isn't cute about this necklace is wearing it where I live: India. While twenty-five cents doesn't get you more than a Ring Pop or a Wacky Wall Walker in the States, on the streets of Kolkata I can get a kati roll and a cup of cha with that loot. I could buy two kilos of aloo or 500ml of Amul dahi. And the thought of wearing a symbol of American economic imperialism around my neck in a place where millions are starving... well, let's just say I won't be wearing this chain around my neck until I'm back on US soil. For those who aren't in my same situation, feel free to show your state pride or the upside down profile of George Washington by visiting Wabisabi Brooklyn. LoVerme may even throw in a free gift; I got a Goumet Scented Pencil made from recycled newspapers that smells like Black Cherry. I think I'll give it to one of the schoolgirls who lives in my building.

Editor's Comment: No more comments will be allowed on this post, as it has become a playground for a group of etsy/indie designer bullies who would like to turn Elevate Difference into a site for some ridiculous and contrived vendetta against one of our writers simply because she expressed a political sentiment they disagree with (or, more entertaining, who they see as having participated in a conspiratorial plot against Wabisabi). Much of the information being circulated in the etsy/designer realm of the blogosphere about the way this review came about is inaccurate—such as the claim that this necklace was sent by the designer to India at her own cost, which it untrue as the necklace was requested by an ED Editor and sent to ED's office in Georgia, not the writer directly. This can be verified by asking MaryAnne LoVerme at Wabisabi. I shouldn't have to remind grown adults about the import of information being based in fact, not speculation and blatant falsehoods. We have published several reviews that are less than favorable (some written in a far more caustic manner) for a given product, but this type of overblown response that some people are demonstrating is quite rare, I can assure you. Probably because most people recognize that throwing tantrums in public isn't good for their own business. Well, unless you're Glenn Beck or someone who makes a living on that sort of thing. Either way, the ganging up of anti-feminist trolls who perpetuate oppressive myths about catfighting and female irrationality is in direct opposition to the mission of Feminist Review, and only serves to make women in general and etsy and indie designers in specific look foolish, so it will not be allowed to continue on this blog.

Written by: Mandy Van Deven, August 9th 2009

Karma Calling

admin — Wed, 15 Jul 2009 16:49:00 +0000

Directed by Sarba Das

Shakti Productions

Director Sarba Das has taken the stomach-churning subject of credit card debt and used it as a hilarious plot device in this endearing romp of a screwball romantic comedy. Watching Karma Calling is definitely non-stop farcical fun as the maxed out Raj’s, a Hindu family living above their means in Hoboken, are pestered by credit card call center collectors based in India.

Ingenious scenes highlight the absurdity of our hyper-globalized world as the Indian collectors learn how to sound American and choose fake names based on popular American sitcoms. The plot thickens when a relative of the Raj’s arrives from India, intending to influence her family to stop eating meat and start meditating. Traditional India meets Americanized Indians and it all adds up to the exploration of basic human values: family unity, love and money.

The set up is this: one day, the smoothest operator from the India call center, the absolutely adorable and charismatic Rob Roy, calls the Raj house and daughter Sonal picks up the phone. Soon the two are chatting away and the chemistry is immediate. What Somal doesn’t know (because of his finely perfected American accent and slang) is that Rob is an ocean away instead of being a boy next door. Adding to this comedy of cultural errors is Sonal’s brother Shyam, who dreams of making it as a hip-hop artist with a song that features a Japanese title. While “hanging out in the ‘hood,” Shyam suddenly finds himself smitten with an Indian girl who recently arrived in the nabe and is about to marry a Dollar Store mogul in an arranged marriage. What to do? Meanwhile, Mr. and Mrs. Raj try to figure out how to pay the bills, duck the creditors and figure out life in America.

The film has broad laugh appeal, and better yet, many wonderfully hip, small moments that offer snappy insights. One of these moments occurs when a pompous trainer at the call center, seeking to win a trip to America, coyly passes out bags of Doritos, hoping to inspire demoralized Indians to act more like Americans. By flipping the equation of cultural identities and spotlighting deficits, Karma Calling nails it: no matter where you live, the color of your skin or how much money you have (or don’t have), what the world really needs now is love, sweet love. An additional caveat? To thine own self, be true!

Written by: Cheryl Reeves, July 15th 2009

Chiconomics 101: The Fun, Fabulous Girls’ Guide to Making Smart Money Moves

admin — Fri, 19 Jun 2009 08:15:00 +0000

By Debbie DiVito

Chiconomics 101 is a pink-themed, Cosmo-drinking ladies-geared blog about basic money management seemingly written by and for the twenty-something set of singles with less money to burn now that they have “real world” bills to pay. The blog bubbles with ideas perhaps not so novel or inventive for folks remotely experienced in the pinching of pennies—brown bagging lunch instead of eating out, visiting the local library instead of the local Barnes & Noble, making coffee instead of dropping dollars on store-bought lattes—but ultimately, from this feminist’s perspective, fizzles and falls flat.

Alongside standard tips for everyday things a “fun, fabulous girl” can do to save a few bucks, the blog also offers more substantial advice The tips are mostly geared toward someone thinking about these things for the first time; she could find some good starting pointers and helpful links to get started towards a financial goal. These posts were genuinely interesting, informative, and pertinent to some aspect of my current financial life. I learned what FICO stands for, what I could do to improve my credit score, and some solid alternatives to a basic savings account. I read comments from other women in my age group who also do their own taxes, along with some straightforward and helpful tips for how to be successful in, what most of us agree, is an overwhelming process.

It wasn’t the information I objected to—the information was great, if basic or limited at times—it was the delivery that was hard to stomach. There are dozens of other “Finance for Women” blogs out there, even of the “101” Introductory variety, that do it better—more sound advice, tips for saving, investment strategies—without the cloyingly fabulous “chiconomic” lingo exclusively employed on this blog.

Money-talk doesn’t have to sound like a Cosmo article to become magically appealing to women. Each concept need not be accompanied by a grating metaphor meant to bring it down to “our” level—(hetero)sex, high school cliques, cocktails, pop music, dieting, more sex. Here’s a fabulous thought: A women’s finance blog with straightforward advice, no gimmicks, no “girl talk,” no gratuitous comparisons, acknowledging the fact that many women do not get the financial education they need and deserve to make the most of what they earn. Chiconomics doesn’t stack up.

Written by: Kelly Moritz, June 19th 2009

Bitch (Issue #34: Green)

admin — Thu, 22 Feb 2007 12:33:00 +0000

B-Word Publishing

Trust Bitch to subvert their very own issue’s theme! In their Winter 2006 issue, they approach what has been become a trend in the magazine world from Elle to Vanity Fair: the “Green issue.” Thankfully, in the spirit of their moniker, the magazine offers a creative response to the very definition of what “green” might entail. Bitch turns its snarky eye toward the color, including such “green” issues as money, jealousy, and, of course, the environment.

Despite the theme’s popularity, Bitch’s approach is anything but typical; I don’t think Elle is offering a articles as diverse as “Wendy Somerson’s Knot in Our Name,” which discusses activism within knitting circles, or articles such as Audrey D. Brashcich’s “Sweet Nothings,” which discuss how girl power became a marketing tool. Along with such obvious topics as Sarah McAbee’s engaging article “Green and Not Heard,” there is also a history and analysis of the Girl Scouts in Aimee Dowl’s piece, “Troop Therapy.” Timely, as always, Hawa Allan’s piece “When Tyra met Naomi” peers in on race issues in the modeling world, particularly focusing on how the fashion world pit Tyra Banks against Naomi Campbell because there can only be one “other” or “minority” supermodel. Moving from modeling to a spiritual mode of money management, Bitch magazine hasn’t lost its diversity of focus and approach.

Written by: Lisa Bower, February 22nd 2007