Finance:

One of the biggest criticisms of Universal Basic Income has been proven wrong

Existing welfare programs are a tangled mess. If welfare recipients start making too much money, they lose food stamps, medical care, and housing vouchers—essentially trapping recipients in poverty. One way around this problem is universal basic income (UBI), which guarantees every citizen a minimum monthly income, regardless of how much they make. Although UBI could serve as the ultimate solution to financial insecurity, critics suggest that people will lose their incentive to work if they receive “free” money. ‘Not so fast’ say researchers out of Finland where a small UBI trial was held. After giving 2,000 randomly selected people a…

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  • Futurism
  • Date:02/13/2019

New credit card allows immigrants without a credit score to easily build one

For immigrants who lack a credit history in the US, it can be difficult to do things such as buy a home or get a credit card. Petal, a new online company, solves this issue by connecting people with little to no credit history with a line of credit of up to $10,000. Instead of relying on the narrow criteria of US credit scores, the company takes into account a person’s whole financial track record to determine creditworthiness. And since the company doesn’t want to burden immigrants with extra costs, the Petal credit card has no annual, over-limit, late-payment, or…

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  • Fast Company
  • Date:02/04/2019

Contactless payments are coming to the U.S., another threat to the use of cash

Contactless payments are set to finally become widespread in the US, posing a renewed challenge to the use of cash.

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  • Quartz
  • Date:01/10/2019

Foreign aid campaigns have long been flawed—these groups are changing this

The problem with foreign-aid donations is that they often fail to create the positive impact that donors had hoped for. Specifically, while large-scale efforts often improved infrastructure, they typically fell short on a key dimension: bring greater democracy and inclusiveness to decision-making in rural areas. Having learned from the mistakes of previous foreign-aid campaigns, some groups are getting creative in their attempts to boost rural economies.

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  • Fast Company
  • Date:12/19/2018

At this new online banking platform, customers are the owners

In a given year, the biggest banks in the U.S.–Wells Fargo, Citi, Bank of America, and JP Morgan Chase–rake in billions of dollars in fees that their customers pay to the bank they are with, and money they have to turn over if they overdraw from one of their accounts. Often, the banks then turn that money around and invest it in fossil fuels; in one of the most well-documented instances of big banks’ questionable investments, Wells Fargo poured money into companies pushing the controversial Dakota Access Pipeline.

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  • Date:12/12/2018

‘The Big Issue’ launches blockchain platform to promote impact investing

The Big Issue, a street newspaper sold by the homeless in the U.K. and other countries, is launching a blockchain-driven platform to promote impact investing. Three investment companies — UK Standard Life Aberdeen, U.S. Columbia Threadneedle, and AllianceBernstein — will join The Big Issue as founders of the platform dubbed The Big Exchange.

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  • Date:11/27/2018

Crowdfunding is opening up Britain’s justice system

Chris Day’s first Twitter post was fairly standard. “It feels good to tweet,” he wrote. He got two likes. A week later he posted a second time, about a legal challenge to protect junior doctors’ whistleblowing rights. Hundreds of people retweeted it. Soon, he marshaled an “army” of 3,000-odd backers, who chipped in more than £200,000 ($256,000) to his cause. In 2016 the government wrote the right into junior doctors’ contracts. It really did feel good to tweet.

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  • Date:11/26/2018

Signs that institutional investors are reorienting towards sustainable investing

Could sustainable investing be at a tipping point? For a long time entrepreneurs, investors and advocates of sustainable investing have spoken longingly about the $2 trillion of institutional investor dollars that have been reputed to be sitting skeptically on the sidelines, teasing everyone with the prospect of finally putting their sizeable investment muscle to work to scale the sector.

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  • Date:11/21/2018

This startup is making investing in clean energy projects easier than ever

A new crowdsourcing platform makes it possible to direct even the smallest investments towards clean energy projects. At the Jumpstart platform, people can put just a few bucks into the projects of their choice in the form of a loan. Once the project is successfully functioning, investors are paid back, and can even get a return on their investment. The new initiative addresses a major concern raised in the UN’s most recent climate change report: the world is falling short of the necessary investments that are needed to prevent an environmental catastrophe.

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  • Fast Company
  • Date:10/26/2018

Muhammad Yunus: Separate financial systems—not charity—will end poverty

For more than 40 years, Muhammad Yunus has been building a financial system for people who lack sufficient access to the one that already exists. In 2006, the now 78-year old won the Nobel Peace Prize for his work as “banker to the poor".

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  • Date:10/23/2018
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