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Key Takeaways Unique Treasures: Second-hand shops offer a diverse range of unique items, including vintage clothing, collectibles, and household goods, making them great for both personal and business needs. Sustainable Shopping: Purchasing pre-owned goods contributes to environmental sustainability by reducing waste and promoting eco-friendly consumer habits. Cost-Effective Solutions: Second-hand items are often significantly cheaper than new products, enabling small businesses to save money while maintaining quality. Community Support: Shopping local helps support small businesses and fosters a sense of community, creating networking opportunities among like-minded entrepreneurs. Strategic Shopping Tips: To find the best deals, visit during off-peak hours and have a clear shopping list that targets specific needs while staying open to unexpected discoveries. Engaged Experience: The unique atmosphere of second-hand shops not only enriches your shopping experience but also encourages community interaction and opportunities for collaboration. If you’re looking for unique treasures and unbeatable deals, a second-hand shop might just be your new favorite destination. These shops are brimming with character and charm, offering everything from vintage clothing to rare collectibles. Not only do they provide an opportunity to score one-of-a-kind items, but they also promote sustainable shopping practices that are good for the planet. Exploring a second-hand shop can feel like a treasure hunt. You never know what hidden gems you might uncover. Plus, shopping second-hand supports local businesses and helps reduce waste. So whether you’re a seasoned thrift shopper or just curious about what these shops have to offer, there’s plenty to discover and enjoy. Overview of Second Hand Shops Second-hand shops serve as valuable resources for unique finds and affordable items. These stores often offer a diverse range of products, including vintage clothing, furniture, and collectibles that attract various customers. You can discover not just everyday household items but also rare treasures that enhance your personal style and home decor. Second-hand shopping promotes sustainable practices. By purchasing pre-owned goods, you actively participate in reducing waste and supporting eco-friendly consumer habits. Moreover, these shops often support local businesses, contributing to your community’s economy. Additionally, second-hand shops can benefit small business entrepreneurs. If you’re considering a startup in the retail sector, analyzing the second-hand market can provide insights into customer preferences and emerging trends. Conducting thorough market research allows you to understand your target audience and refine your business model. Starting a second-hand shop involves strategic planning. You’ll need to decide on a legal structure, such as an LLC or sole proprietorship, and familiarize yourself with necessary permits and licenses. Proper funding is crucial. You can explore options like crowdfunding or angel investors to start your venture successfully. As you develop your brand, consider innovative marketing strategies. Utilizing digital marketing tools, such as social media and email marketing, can help you reach potential customers effectively. Implement SEO practices on your website to maximize visibility and drive traffic to your shop. Engaging with your community through events and promotions enhances customer acquisition and builds loyalty. By focusing on providing excellent customer service, you create a welcoming environment that encourages repeat visits. By emphasizing the unique experience of thrift shopping, you can differentiate your business from conventional retail outlets, establishing a loyal customer base committed to sustainable shopping choices. Benefits of Shopping at Second Hand Shops Shopping at secondhand shops provides numerous advantages, particularly for small business owners and entrepreneurs seeking cost-effective solutions. Understanding these benefits supports informed decisions in various aspects of your business. Environmental Impact Choosing to shop at secondhand stores significantly contributes to environmental sustainability. By purchasing secondhand items, you reduce waste, as each item saved from landfills diminishes waste production. For example, buying a used piece of furniture not only saves money but also conserves valuable resources, such as water, energy, and raw materials used in manufacturing new products. This sustainable approach attracts a growing segment of environmentally conscious consumers who prefer to support businesses that align with their values. Cost Savings Cost savings play a crucial role when managing a small business. Secondhand goods often cost up to 50% less than new items, making them an economical choice for essential supplies or office decor. This includes finding high-quality designer items, which can enhance your brand without straining your budget. Consider sourcing office furniture, clothing for team members, or inventory from secondhand shops. The lower price points allow you to allocate your budget more effectively, invest in product development, or enhance your marketing strategy without sacrificing quality. By leveraging these benefits of secondhand shopping, you can position your small business for long-term success while supporting sustainable practices. Tips for Finding Great Deals When venturing into second-hand shops, focus and strategy yield the best finds. Below are essential tips that enhance your shopping experience and help you discover valuable items for your small business or personal needs. What to Look For Look for specific items that match your requirements. Create a list of desired products, such as furniture, clothing, or kitchen supplies. Knowing what to search for maximizes your efficiency. Check for quality signs like brand labels, working conditions, or unique features that enhance resale value. Look for items that align with your market research to appeal to your target audience. Discovering vintage pieces or rare collectibles can elevate your inventory and offer unique branding opportunities. Timing Your Visits Timing plays an essential role in your thrift shopping success. Visit during non-peak hours—weekdays or early mornings—to enjoy better selections and avoid crowds. These times often bring fresh arrivals, increasing your chances of uncovering unique items. Knowing when local stores restock helps, as strategic visits can yield high-value finds that resonate with your business goals, enhancing your offerings significantly. The Experience of Shopping at a Second Hand Shop Shopping at a second-hand shop offers a distinctive experience filled with affordability and sustainability. It allows you to engage with unique items while tapping into a growing market that benefits your entrepreneurial goals. Unique Finds Second-hand shops are treasure troves of unusual and one-of-a-kind items. You can discover vintage clothing, retro furniture, and eclectic household goods that enhance your personal or business space. Stores like Fly Boutique in Miami and The Fashionista Consignment Boutique specialize in high-end brands and curated pre-loved luxury items, such as Chanel blazers and Hermes scarves. These unique items can attract a diverse target audience, making them invaluable for branding and marketing your small business. Sourcing unique products can also diversify your inventory, increasing your sales and profit margins. Community Atmosphere Second-hand shops foster a welcoming and engaging community atmosphere. You often meet like-minded individuals who share an appreciation for sustainability and creativity. This environment can inspire partnerships and collaborations, enhancing your networking efforts within the local entrepreneurial ecosystem. Connecting with other small business owners in your area builds relationships that can lead to mentorship and shared customer acquisition strategies. You can also leverage social media to showcase these community values, further enhancing your business’s reputation and customer base. Utilizing the community’s spirit not only enriches your shopping experience but also provides opportunities for collaboration and growth within your small business landscape. Conclusion Exploring second-hand shops opens up a world of unique finds and sustainable choices. You’ll not only discover items that tell a story but also support local entrepreneurs and eco-friendly practices. By diving into this treasure hunt, you can save money while making thoughtful purchasing decisions. Whether you’re a seasoned thrift shopper or just starting out, the experience is rewarding. Embrace the charm of these shops and enjoy the thrill of uncovering hidden gems. As you navigate this vibrant market, remember that each visit can lead to new connections and opportunities, enriching your shopping journey and community engagement. Frequently Asked Questions What are the benefits of shopping at second-hand shops? Shopping at second-hand shops offers unique finds, affordability, and sustainability. You can discover vintage clothing and rare collectibles at prices often up to 50% less than new items, helping you save money. Additionally, supporting second-hand shops promotes sustainable practices by reducing waste and conserving resources. How can second-hand shops support local businesses? Second-hand shops often source items locally, providing income to nearby communities. By shopping at these stores, customers help create a vibrant local economy, supporting small entrepreneurs and fostering unique shopping experiences that strengthen community ties. What tips can improve my second-hand shopping experience? To enhance your experience, make a list of specific items you need and visit during non-peak hours for better selections. Check for quality signs like brand labels and unique features. Being patient and explorative can lead to exceptional finds that meet your needs. How can I start my own second-hand shop? To start your own second-hand shop, conduct market research and develop a solid business plan. Choose a legal structure, secure funding, and create innovative marketing strategies. Focus on excellent customer service and provide a unique shopping experience to build a loyal customer base. Why is sustainability important in second-hand shopping? Sustainability is crucial in second-hand shopping as it significantly reduces waste and conserves resources. By choosing pre-owned items, shoppers contribute to less environmental pollution, making a positive impact while enjoying affordable products. This practice fosters a more responsible consumer culture. Image Via Envato This article, "Discover Hidden Treasures at Second Hand Shops: Your Guide to Sustainable Shopping" was first published on Small Business Trends View the full article

Key Takeaways Unique Treasures: Second-hand shops offer a diverse range of unique items, including vintage clothing, collectibles, and household goods, making them great for both personal and business needs. Sustainable Shopping: Purchasing pre-owned goods contributes to environmental sustainability by reducing waste and promoting eco-friendly consumer habits. Cost-Effective Solutions: Second-hand items are often significantly cheaper than new products, enabling small businesses to save money while maintaining quality. Community Support: Shopping local helps support small businesses and fosters a sense of community, creating networking opportunities among like-minded entrepreneurs. Strategic Shopping Tips: To find the best deals, visit during off-peak hours and have a clear shopping list that targets specific needs while staying open to unexpected discoveries. Engaged Experience: The unique atmosphere of second-hand shops not only enriches your shopping experience but also encourages community interaction and opportunities for collaboration. If you’re looking for unique treasures and unbeatable deals, a second-hand shop might just be your new favorite destination. These shops are brimming with character and charm, offering everything from vintage clothing to rare collectibles. Not only do they provide an opportunity to score one-of-a-kind items, but they also promote sustainable shopping practices that are good for the planet. Exploring a second-hand shop can feel like a treasure hunt. You never know what hidden gems you might uncover. Plus, shopping second-hand supports local businesses and helps reduce waste. So whether you’re a seasoned thrift shopper or just curious about what these shops have to offer, there’s plenty to discover and enjoy. Overview of Second Hand Shops Second-hand shops serve as valuable resources for unique finds and affordable items. These stores often offer a diverse range of products, including vintage clothing, furniture, and collectibles that attract various customers. You can discover not just everyday household items but also rare treasures that enhance your personal style and home decor. Second-hand shopping promotes sustainable practices. By purchasing pre-owned goods, you actively participate in reducing waste and supporting eco-friendly consumer habits. Moreover, these shops often support local businesses, contributing to your community’s economy. Additionally, second-hand shops can benefit small business entrepreneurs. If you’re considering a startup in the retail sector, analyzing the second-hand market can provide insights into customer preferences and emerging trends. Conducting thorough market research allows you to understand your target audience and refine your business model. Starting a second-hand shop involves strategic planning. You’ll need to decide on a legal structure, such as an LLC or sole proprietorship, and familiarize yourself with necessary permits and licenses. Proper funding is crucial. You can explore options like crowdfunding or angel investors to start your venture successfully. As you develop your brand, consider innovative marketing strategies. Utilizing digital marketing tools, such as social media and email marketing, can help you reach potential customers effectively. Implement SEO practices on your website to maximize visibility and drive traffic to your shop. Engaging with your community through events and promotions enhances customer acquisition and builds loyalty. By focusing on providing excellent customer service, you create a welcoming environment that encourages repeat visits. By emphasizing the unique experience of thrift shopping, you can differentiate your business from conventional retail outlets, establishing a loyal customer base committed to sustainable shopping choices. Benefits of Shopping at Second Hand Shops Shopping at secondhand shops provides numerous advantages, particularly for small business owners and entrepreneurs seeking cost-effective solutions. Understanding these benefits supports informed decisions in various aspects of your business. Environmental Impact Choosing to shop at secondhand stores significantly contributes to environmental sustainability. By purchasing secondhand items, you reduce waste, as each item saved from landfills diminishes waste production. For example, buying a used piece of furniture not only saves money but also conserves valuable resources, such as water, energy, and raw materials used in manufacturing new products. This sustainable approach attracts a growing segment of environmentally conscious consumers who prefer to support businesses that align with their values. Cost Savings Cost savings play a crucial role when managing a small business. Secondhand goods often cost up to 50% less than new items, making them an economical choice for essential supplies or office decor. This includes finding high-quality designer items, which can enhance your brand without straining your budget. Consider sourcing office furniture, clothing for team members, or inventory from secondhand shops. The lower price points allow you to allocate your budget more effectively, invest in product development, or enhance your marketing strategy without sacrificing quality. By leveraging these benefits of secondhand shopping, you can position your small business for long-term success while supporting sustainable practices. Tips for Finding Great Deals When venturing into second-hand shops, focus and strategy yield the best finds. Below are essential tips that enhance your shopping experience and help you discover valuable items for your small business or personal needs. What to Look For Look for specific items that match your requirements. Create a list of desired products, such as furniture, clothing, or kitchen supplies. Knowing what to search for maximizes your efficiency. Check for quality signs like brand labels, working conditions, or unique features that enhance resale value. Look for items that align with your market research to appeal to your target audience. Discovering vintage pieces or rare collectibles can elevate your inventory and offer unique branding opportunities. Timing Your Visits Timing plays an essential role in your thrift shopping success. Visit during non-peak hours—weekdays or early mornings—to enjoy better selections and avoid crowds. These times often bring fresh arrivals, increasing your chances of uncovering unique items. Knowing when local stores restock helps, as strategic visits can yield high-value finds that resonate with your business goals, enhancing your offerings significantly. The Experience of Shopping at a Second Hand Shop Shopping at a second-hand shop offers a distinctive experience filled with affordability and sustainability. It allows you to engage with unique items while tapping into a growing market that benefits your entrepreneurial goals. Unique Finds Second-hand shops are treasure troves of unusual and one-of-a-kind items. You can discover vintage clothing, retro furniture, and eclectic household goods that enhance your personal or business space. Stores like Fly Boutique in Miami and The Fashionista Consignment Boutique specialize in high-end brands and curated pre-loved luxury items, such as Chanel blazers and Hermes scarves. These unique items can attract a diverse target audience, making them invaluable for branding and marketing your small business. Sourcing unique products can also diversify your inventory, increasing your sales and profit margins. Community Atmosphere Second-hand shops foster a welcoming and engaging community atmosphere. You often meet like-minded individuals who share an appreciation for sustainability and creativity. This environment can inspire partnerships and collaborations, enhancing your networking efforts within the local entrepreneurial ecosystem. Connecting with other small business owners in your area builds relationships that can lead to mentorship and shared customer acquisition strategies. You can also leverage social media to showcase these community values, further enhancing your business’s reputation and customer base. Utilizing the community’s spirit not only enriches your shopping experience but also provides opportunities for collaboration and growth within your small business landscape. Conclusion Exploring second-hand shops opens up a world of unique finds and sustainable choices. You’ll not only discover items that tell a story but also support local entrepreneurs and eco-friendly practices. By diving into this treasure hunt, you can save money while making thoughtful purchasing decisions. Whether you’re a seasoned thrift shopper or just starting out, the experience is rewarding. Embrace the charm of these shops and enjoy the thrill of uncovering hidden gems. As you navigate this vibrant market, remember that each visit can lead to new connections and opportunities, enriching your shopping journey and community engagement. Frequently Asked Questions What are the benefits of shopping at second-hand shops? Shopping at second-hand shops offers unique finds, affordability, and sustainability. You can discover vintage clothing and rare collectibles at prices often up to 50% less than new items, helping you save money. Additionally, supporting second-hand shops promotes sustainable practices by reducing waste and conserving resources. How can second-hand shops support local businesses? Second-hand shops often source items locally, providing income to nearby communities. By shopping at these stores, customers help create a vibrant local economy, supporting small entrepreneurs and fostering unique shopping experiences that strengthen community ties. What tips can improve my second-hand shopping experience? To enhance your experience, make a list of specific items you need and visit during non-peak hours for better selections. Check for quality signs like brand labels and unique features. Being patient and explorative can lead to exceptional finds that meet your needs. How can I start my own second-hand shop? To start your own second-hand shop, conduct market research and develop a solid business plan. Choose a legal structure, secure funding, and create innovative marketing strategies. Focus on excellent customer service and provide a unique shopping experience to build a loyal customer base. Why is sustainability important in second-hand shopping? Sustainability is crucial in second-hand shopping as it significantly reduces waste and conserves resources. By choosing pre-owned items, shoppers contribute to less environmental pollution, making a positive impact while enjoying affordable products. This practice fosters a more responsible consumer culture. Image Via Envato This article, "Discover Hidden Treasures at Second Hand Shops: Your Guide to Sustainable Shopping" was first published on Small Business Trends View the full article

What role should the government play in small business owners’ economic life? It seems that with the The President tariffs are at tax that the government is putting on all our lives, but should it just stay out of it? On The Small Business Radio Show this week, Sen. Phil Gramm describes evidence points to government interference and failed policies that pose the most significant threat to economic freedom. Gramm, who has a long history in U.S. politics, having served in both the House of Representatives and the Senate, joins my conversation with Don Boudreaux, who is an economist and professor at George Mason University. They have a new book called “The Triumph of Economic Freedom: Debunking the Seven Great Myths of American Capitalism”. The Role of Government in Economic Life I asked Gramm about the appropriate balance of government involvement in the economy. Gramm asserts that the government should primarily enforce the rule of law while allowing the private sector to thrive. He believes that economic freedom is the cornerstone of American exceptionalism, contributing to the nation’s wealth and power. Gramm emphasizes that the more freedom individuals have to pursue their economic interests, the better off society will be as a whole. Key Points: Government’s Role: Enforce the rule of law, protect property rights, and ensure fair competition. Economic Freedom: Essential for innovation, entrepreneurship, and overall societal wealth. Defining Economic Freedom When asked to define economic freedom, Gramm explains that it encompasses the right of individuals to utilize their abilities to improve their lives and those of their families within a legal framework. He argues that true success comes from producing goods and services that others value, contrasting this with the notion that only government or criminals can gain without contributing. Key Points: Individual Rights: Freedom to use one’s talents and resources to create value. Legal Framework: Ensures that economic activities are conducted fairly and ethically. Debunking Myths of American Capitalism Boudreaux introduces the first myth from their book: the “Genesis Myth,” which claims that the Industrial Revolution impoverished workers. He argues that this narrative is a fallacy. While the Industrial Revolution did lead to significant economic growth, it did not come at the expense of the working class. In fact, data shows that ordinary people during this period experienced improvements in wealth, working conditions, and life expectancy. Boudreaux highlights that the wealth generated by capitalism has historically led to better living standards for all. Key Points: Genesis Myth: The Industrial Revolution improved, rather than worsened, the lives of workers. Economic Growth: Leads to better living standards and working conditions over time. The Great Depression and Capitalism The discussion shifts to the Great Depression, with I ask Gramm why it is often viewed as a failure of capitalism. Gramm argues that it was, in fact, a failure of government policy, particularly in monetary policy and the implementation of the Smoot-Hawley Tariff, which exacerbated the economic downturn. He explains that the Federal Reserve’s failure to provide liquidity during the crisis led to widespread bank failures and prolonged the depression. Gramm notes that other countries recovered more quickly due to different policies, while the U.S. did not fully escape the depression until the 1950s. Key Points: Government Policy Failures: Poor monetary policy and protectionist tariffs worsened the Great Depression. Federal Reserve’s Role: Lack of liquidity provision led to bank failures and prolonged economic hardship. Tariffs and American Manufacturing I raise the issue of tariffs, particularly in the context of President The President’s protectionist policies. Boudreaux asserts that the belief that trade is hollowing out American manufacturing is a myth. He cites data showing that American industrial output and manufacturing capacity are at all-time highs. He argues that tariffs, which increase costs for American producers, ultimately harm manufacturing rather than help it. Key Points: Trade Myths: American manufacturing is thriving, contrary to protectionist claims. Tariffs’ Impact: Increase costs for producers and harm the broader economy. Deregulation and the Financial Crisis The conversation then turns to the myth that deregulation caused the financial crisis of 2008. Boudreaux contends that there was little actual deregulation, and the crisis was primarily a result of government policies aimed at artificially stimulating homeownership. He explains how government-backed organizations like Fannie Mae and Freddie Mac lowered lending standards, leading to a cascade of risky mortgage lending that ultimately collapsed. Gramm supports this view, clarifying that the Gramm-Leach-Bliley Act did not deregulate the banking industry as commonly believed. Instead, it recognized the reality of large financial institutions operating across different sectors. He emphasizes that the crisis was not caused by deregulation but by government policies that pressured banks to make risky loans. Key Points: Deregulation Myth: The financial crisis was driven by government policies, not deregulation. Government-Backed Lending: Lowered standards led to risky loans and the eventual collapse. Poverty and Capitalism Finally, I ask about the myth that poverty is a failure of American capitalism. Gramm argues that even the poorest Americans today are among the wealthiest globally, and the perception of poverty often stems from measurement failures. He explains that when accounting for taxes paid by high-income earners and government transfers received by lower-income individuals, the gap between rich and poor narrows significantly. He asserts that hard work and responsible living can lead to prosperity in America, a narrative that has historically held true. Key Points: Poverty Myth: American capitalism has significantly reduced poverty levels. Wealth Distribution: Government transfers and taxes narrow the income gap. Conclusion As the episode wraps up, I asks both guests what they hope readers will take away from their book. Gramm emphasizes the importance of setting the record straight on economic myths and fostering a greater appreciation for freedom within the rule of law. Boudreaux echoes this sentiment, highlighting the need for a fact-based alternative narrative to the conventional wisdom taught in schools. Actionable Takeaways: Understand Economic Freedom: Recognize the importance of individual rights and a fair legal framework in fostering economic growth. Question Common Narratives: Be critical of widely accepted myths about capitalism and government intervention. Appreciate Capitalism’s Benefits: Acknowledge the historical and ongoing improvements in living standards driven by capitalist principles. Advocate for Sound Policies: Support policies that enhance economic freedom and avoid those that impose unnecessary burdens on businesses and individuals. Listen to the entire episode on The Small Business Radio Show This article, "Sen. Phil Gramm Debunks Tariffs and the Seven Great Myths of American Capitalism" was first published on Small Business Trends View the full article

What role should the government play in small business owners’ economic life? It seems that with the The President tariffs are at tax that the government is putting on all our lives, but should it just stay out of it? On The Small Business Radio Show this week, Sen. Phil Gramm describes evidence points to government interference and failed policies that pose the most significant threat to economic freedom. Gramm, who has a long history in U.S. politics, having served in both the House of Representatives and the Senate, joins my conversation with Don Boudreaux, who is an economist and professor at George Mason University. They have a new book called “The Triumph of Economic Freedom: Debunking the Seven Great Myths of American Capitalism”. The Role of Government in Economic Life I asked Gramm about the appropriate balance of government involvement in the economy. Gramm asserts that the government should primarily enforce the rule of law while allowing the private sector to thrive. He believes that economic freedom is the cornerstone of American exceptionalism, contributing to the nation’s wealth and power. Gramm emphasizes that the more freedom individuals have to pursue their economic interests, the better off society will be as a whole. Key Points: Government’s Role: Enforce the rule of law, protect property rights, and ensure fair competition. Economic Freedom: Essential for innovation, entrepreneurship, and overall societal wealth. Defining Economic Freedom When asked to define economic freedom, Gramm explains that it encompasses the right of individuals to utilize their abilities to improve their lives and those of their families within a legal framework. He argues that true success comes from producing goods and services that others value, contrasting this with the notion that only government or criminals can gain without contributing. Key Points: Individual Rights: Freedom to use one’s talents and resources to create value. Legal Framework: Ensures that economic activities are conducted fairly and ethically. Debunking Myths of American Capitalism Boudreaux introduces the first myth from their book: the “Genesis Myth,” which claims that the Industrial Revolution impoverished workers. He argues that this narrative is a fallacy. While the Industrial Revolution did lead to significant economic growth, it did not come at the expense of the working class. In fact, data shows that ordinary people during this period experienced improvements in wealth, working conditions, and life expectancy. Boudreaux highlights that the wealth generated by capitalism has historically led to better living standards for all. Key Points: Genesis Myth: The Industrial Revolution improved, rather than worsened, the lives of workers. Economic Growth: Leads to better living standards and working conditions over time. The Great Depression and Capitalism The discussion shifts to the Great Depression, with I ask Gramm why it is often viewed as a failure of capitalism. Gramm argues that it was, in fact, a failure of government policy, particularly in monetary policy and the implementation of the Smoot-Hawley Tariff, which exacerbated the economic downturn. He explains that the Federal Reserve’s failure to provide liquidity during the crisis led to widespread bank failures and prolonged the depression. Gramm notes that other countries recovered more quickly due to different policies, while the U.S. did not fully escape the depression until the 1950s. Key Points: Government Policy Failures: Poor monetary policy and protectionist tariffs worsened the Great Depression. Federal Reserve’s Role: Lack of liquidity provision led to bank failures and prolonged economic hardship. Tariffs and American Manufacturing I raise the issue of tariffs, particularly in the context of President The President’s protectionist policies. Boudreaux asserts that the belief that trade is hollowing out American manufacturing is a myth. He cites data showing that American industrial output and manufacturing capacity are at all-time highs. He argues that tariffs, which increase costs for American producers, ultimately harm manufacturing rather than help it. Key Points: Trade Myths: American manufacturing is thriving, contrary to protectionist claims. Tariffs’ Impact: Increase costs for producers and harm the broader economy. Deregulation and the Financial Crisis The conversation then turns to the myth that deregulation caused the financial crisis of 2008. Boudreaux contends that there was little actual deregulation, and the crisis was primarily a result of government policies aimed at artificially stimulating homeownership. He explains how government-backed organizations like Fannie Mae and Freddie Mac lowered lending standards, leading to a cascade of risky mortgage lending that ultimately collapsed. Gramm supports this view, clarifying that the Gramm-Leach-Bliley Act did not deregulate the banking industry as commonly believed. Instead, it recognized the reality of large financial institutions operating across different sectors. He emphasizes that the crisis was not caused by deregulation but by government policies that pressured banks to make risky loans. Key Points: Deregulation Myth: The financial crisis was driven by government policies, not deregulation. Government-Backed Lending: Lowered standards led to risky loans and the eventual collapse. Poverty and Capitalism Finally, I ask about the myth that poverty is a failure of American capitalism. Gramm argues that even the poorest Americans today are among the wealthiest globally, and the perception of poverty often stems from measurement failures. He explains that when accounting for taxes paid by high-income earners and government transfers received by lower-income individuals, the gap between rich and poor narrows significantly. He asserts that hard work and responsible living can lead to prosperity in America, a narrative that has historically held true. Key Points: Poverty Myth: American capitalism has significantly reduced poverty levels. Wealth Distribution: Government transfers and taxes narrow the income gap. Conclusion As the episode wraps up, I asks both guests what they hope readers will take away from their book. Gramm emphasizes the importance of setting the record straight on economic myths and fostering a greater appreciation for freedom within the rule of law. Boudreaux echoes this sentiment, highlighting the need for a fact-based alternative narrative to the conventional wisdom taught in schools. Actionable Takeaways: Understand Economic Freedom: Recognize the importance of individual rights and a fair legal framework in fostering economic growth. Question Common Narratives: Be critical of widely accepted myths about capitalism and government intervention. Appreciate Capitalism’s Benefits: Acknowledge the historical and ongoing improvements in living standards driven by capitalist principles. Advocate for Sound Policies: Support policies that enhance economic freedom and avoid those that impose unnecessary burdens on businesses and individuals. Listen to the entire episode on The Small Business Radio Show This article, "Sen. Phil Gramm Debunks Tariffs and the Seven Great Myths of American Capitalism" was first published on Small Business Trends View the full article

As summer travel ramps up, Airbnb is once again activating its anti-party technology across the United States to deter potentially disruptive bookings over Memorial Airbnb announced on May 19, 2025, that it will again activate its anti-party technology across the United States for the Memorial Day and Fourth of July weekends. This marks the fourth consecutive year the company has deployed these defenses to reduce the risk of unauthorized parties on the platform. The anti-party system is designed to identify and block certain one-to-two-night bookings of entire home listings that may present a higher risk for a disruptive party. The technology considers multiple factors, including the type of listing, length of stay, proximity of the guest to the property, and whether the booking is last-minute. If a booking is blocked, the guest may still book other accommodations on the platform. In 2024, Airbnb’s anti-party defenses blocked or redirected approximately 51,000 people in the U.S. from booking entire home listings during the summer holiday weekends. This included: Approximately 7,750 people in Texas Approximately 7,400 people in Florida Approximately 7,030 people in California According to Airbnb, “Although incidents of disruptive parties on Airbnb are rare, we are committed to working to reduce the risk and helping hosts promote positive experiences in their homes and local neighborhoods.” The company notes that the anti-party system “is part of a broader set of tools and policies Airbnb deploys to promote responsible travel and help hosts safeguard their spaces, especially during moments when demand is higher and the potential for disruption can increase.” These defenses operate alongside Airbnb’s global reservation screening technology, which is active year-round. This system “leverages machine learning to try to identify and deter higher risk bookings in the US and globally.” Airbnb reports that “since 2020, when we introduced our global party ban policy, we’ve seen an over 50 percent decrease in the rate of party reports to us in the US.” In 2024, the company states that “fewer than approximately 0.06 percent of reservations on Airbnb in the US resulted in a report of a party.” Additional resources Airbnb provides to promote responsible travel and support hosts and communities include: Tips for hosts on preventing parties in their listing Neighborhood Support Line for local communities to report urgent issues directly to us, like a party in progress at a home they believe is listed on Airbnb 24-hour Safety line for hosts and guests to directly reach our Safety team for support Free noise sensor for hosts, which can help to get ahead of issues before they start while respecting guest privacy Support for law enforcement through a dedicated channel and specialized response team, in the rare event of an issue that potentially involves an Airbnb listing or stay These combined systems and tools are designed to help Airbnb hosts “protect their homes and neighbors’ peace of mind,” particularly during high-demand periods like national holidays. Image: Airbnb This article, "Airbnb Reinstates Anti-Party Technology for Summer Holidays to Prevent Disruptive Bookings" was first published on Small Business Trends View the full article

As summer travel ramps up, Airbnb is once again activating its anti-party technology across the United States to deter potentially disruptive bookings over Memorial Airbnb announced on May 19, 2025, that it will again activate its anti-party technology across the United States for the Memorial Day and Fourth of July weekends. This marks the fourth consecutive year the company has deployed these defenses to reduce the risk of unauthorized parties on the platform. The anti-party system is designed to identify and block certain one-to-two-night bookings of entire home listings that may present a higher risk for a disruptive party. The technology considers multiple factors, including the type of listing, length of stay, proximity of the guest to the property, and whether the booking is last-minute. If a booking is blocked, the guest may still book other accommodations on the platform. In 2024, Airbnb’s anti-party defenses blocked or redirected approximately 51,000 people in the U.S. from booking entire home listings during the summer holiday weekends. This included: Approximately 7,750 people in Texas Approximately 7,400 people in Florida Approximately 7,030 people in California According to Airbnb, “Although incidents of disruptive parties on Airbnb are rare, we are committed to working to reduce the risk and helping hosts promote positive experiences in their homes and local neighborhoods.” The company notes that the anti-party system “is part of a broader set of tools and policies Airbnb deploys to promote responsible travel and help hosts safeguard their spaces, especially during moments when demand is higher and the potential for disruption can increase.” These defenses operate alongside Airbnb’s global reservation screening technology, which is active year-round. This system “leverages machine learning to try to identify and deter higher risk bookings in the US and globally.” Airbnb reports that “since 2020, when we introduced our global party ban policy, we’ve seen an over 50 percent decrease in the rate of party reports to us in the US.” In 2024, the company states that “fewer than approximately 0.06 percent of reservations on Airbnb in the US resulted in a report of a party.” Additional resources Airbnb provides to promote responsible travel and support hosts and communities include: Tips for hosts on preventing parties in their listing Neighborhood Support Line for local communities to report urgent issues directly to us, like a party in progress at a home they believe is listed on Airbnb 24-hour Safety line for hosts and guests to directly reach our Safety team for support Free noise sensor for hosts, which can help to get ahead of issues before they start while respecting guest privacy Support for law enforcement through a dedicated channel and specialized response team, in the rare event of an issue that potentially involves an Airbnb listing or stay These combined systems and tools are designed to help Airbnb hosts “protect their homes and neighbors’ peace of mind,” particularly during high-demand periods like national holidays. Image: Airbnb This article, "Airbnb Reinstates Anti-Party Technology for Summer Holidays to Prevent Disruptive Bookings" was first published on Small Business Trends View the full article

The former president of a Michigan-based asphalt paving company has been sentenced to prison and ordered to pay a substantial fine for his role in a multiyear bid rigging scheme that defrauded customers and undermined competitive contracting. Daniel L. Israel, former president of Asphalt Specialists LLC (ASI) in Pontiac, was sentenced on May 22 to six months in prison and fined $500,000 after pleading guilty to conspiring with Al’s Asphalt Paving Company Inc. and other co-conspirators to rig bids on asphalt paving contracts across Michigan. Israel admitted to coordinating with employees from both companies to submit intentionally non-competitive bids designed to deceive clients and ensure predetermined outcomes. According to the Department of Justice, the conspiracy ran from March 2013 through November 2018, during which the co-conspirators manipulated bid submissions to create the appearance of fair competition while actually agreeing in advance which company would win specific contracts. “Economic crime — like bid rigging — is no less harmful than violent crime,” said Acting Deputy Assistant Attorney General Omeed A. Assefi of the Justice Department’s Antitrust Division. “Both inflict deep, lasting harm on our communities and disenfranchise those who believe in the American dream. As the defendant admitted, he conspired to eliminate competition to further enrich himself and his accomplices. The Antitrust Division and its law enforcement partners will continue to ensure that individuals who cheat and deprive the public of the benefits of competition are incarcerated.” This sentencing is part of a broader federal antitrust investigation into collusive practices in the asphalt paving industry. To date, seven individuals and three companies have been charged, resulting in more than $8.2 million in criminal fines. “This sentencing marks an important milestone in holding accountable those responsible for this flagrant bid rigging scheme,” said Special Agent in Charge Anthony Licari of the U.S. Department of Transportation Office of Inspector General (DOT-OIG), Midwestern Region. “We remain committed to working closely with our law enforcement and prosecutorial partners to investigate and prosecute individuals who undermine fair competition and violate federal antitrust laws.” Tammy Hull, Inspector General of the U.S. Postal Service, emphasized the broader implications of bid rigging on government operations: “The Postal Service maintains thousands of competitively bid contracts with private vendors to support its massive operation. Criminal activities such as bid rigging are a serious offense that undermine the principles of fair competition and harm our communities. This type of behavior will not be tolerated. We will aggressively investigate and bring to justice any vendor that attempts to defraud the Postal Service.” As part of the ongoing investigation: ASI and another former ASI executive pleaded guilty in January 2024. Al’s Asphalt and two of its executives also pleaded guilty in January and October 2024. ASI was sentenced in August 2024 to pay a $6.5 million fine. The investigation is being led by the Justice Department’s Antitrust Division Chicago Office, with support from the DOT-OIG and the U.S. Postal Service Office of Inspector General. The Justice Department urges anyone with information related to this case to contact the Antitrust Division’s Complaint Center at 888-647-3258 or visit www.justice.gov/atr/report-violations. This article, "Former President of Asphalt Paving Company Sentenced in Michigan Bid Rigging Conspiracy" was first published on Small Business Trends View the full article

The former president of a Michigan-based asphalt paving company has been sentenced to prison and ordered to pay a substantial fine for his role in a multiyear bid rigging scheme that defrauded customers and undermined competitive contracting. Daniel L. Israel, former president of Asphalt Specialists LLC (ASI) in Pontiac, was sentenced on May 22 to six months in prison and fined $500,000 after pleading guilty to conspiring with Al’s Asphalt Paving Company Inc. and other co-conspirators to rig bids on asphalt paving contracts across Michigan. Israel admitted to coordinating with employees from both companies to submit intentionally non-competitive bids designed to deceive clients and ensure predetermined outcomes. According to the Department of Justice, the conspiracy ran from March 2013 through November 2018, during which the co-conspirators manipulated bid submissions to create the appearance of fair competition while actually agreeing in advance which company would win specific contracts. “Economic crime — like bid rigging — is no less harmful than violent crime,” said Acting Deputy Assistant Attorney General Omeed A. Assefi of the Justice Department’s Antitrust Division. “Both inflict deep, lasting harm on our communities and disenfranchise those who believe in the American dream. As the defendant admitted, he conspired to eliminate competition to further enrich himself and his accomplices. The Antitrust Division and its law enforcement partners will continue to ensure that individuals who cheat and deprive the public of the benefits of competition are incarcerated.” This sentencing is part of a broader federal antitrust investigation into collusive practices in the asphalt paving industry. To date, seven individuals and three companies have been charged, resulting in more than $8.2 million in criminal fines. “This sentencing marks an important milestone in holding accountable those responsible for this flagrant bid rigging scheme,” said Special Agent in Charge Anthony Licari of the U.S. Department of Transportation Office of Inspector General (DOT-OIG), Midwestern Region. “We remain committed to working closely with our law enforcement and prosecutorial partners to investigate and prosecute individuals who undermine fair competition and violate federal antitrust laws.” Tammy Hull, Inspector General of the U.S. Postal Service, emphasized the broader implications of bid rigging on government operations: “The Postal Service maintains thousands of competitively bid contracts with private vendors to support its massive operation. Criminal activities such as bid rigging are a serious offense that undermine the principles of fair competition and harm our communities. This type of behavior will not be tolerated. We will aggressively investigate and bring to justice any vendor that attempts to defraud the Postal Service.” As part of the ongoing investigation: ASI and another former ASI executive pleaded guilty in January 2024. Al’s Asphalt and two of its executives also pleaded guilty in January and October 2024. ASI was sentenced in August 2024 to pay a $6.5 million fine. The investigation is being led by the Justice Department’s Antitrust Division Chicago Office, with support from the DOT-OIG and the U.S. Postal Service Office of Inspector General. The Justice Department urges anyone with information related to this case to contact the Antitrust Division’s Complaint Center at 888-647-3258 or visit www.justice.gov/atr/report-violations. This article, "Former President of Asphalt Paving Company Sentenced in Michigan Bid Rigging Conspiracy" was first published on Small Business Trends View the full article

Advertiser Disclosure Terms apply to American Express benefits and offers. Enrollment may be required for select American Express benefits and offers. Visit americanexpress.com to learn more. The Platinum Card® from American Express is the OG of premium travel cards. Since its launch in the 1980s, it’s always been known for its exclusivity, suite of perks, and stellar customer service. While it does have the highest fee in the game ($695, See Rates and Fees), it offers a ton of bang for your buck. You’ll more than come out on top if you take advantage of all that this premium card has to offer. It unlocks the most comprehensive lounge access of any card, includes elite hotel status, has tons of travel perks, and offers hefty statement credits. I personally love this card, but it’s not for everyone. Here’s my review to help you decide if it’s right for you. What does the card offer? This card unlocks a ton of lounge access, elite status benefits (enrollment required), travel perks, special hotel discounts, and luxury goods and service credits. Here’s a glance at just some of the benefits: Earn 80,000 Membership Rewards® Points after you spend $8,000 on eligible purchases on your new Card in your first 6 months of Card Membership Earn 5x Membership Rewards® points on flights booked directly with airlines or with American Express Travel® (on the first $500,000 spent per calendar year) Earn 5x Membership Rewards® points on prepaid hotels booked on American Express Travel Travel insurance coverage including secondary car rental insurance, trip interruption and cancellation, lost luggage reimbursement Access to The American Express Global Lounge Collection (for eligible Card Members) Up to $200 in airline credit (Valid on one qualifying airline that you must choose in advance. Valid on incidentals only, not airfare.) Up to $200 back in statement credits each year on prepaid Fine Hotels + Resorts® or The Hotel Collection bookings through American Express Travel using your Platinum Card®. (The Hotel Collection requires a minimum two-night stay.) Up to $199 annual CLEAR® Plus statement credit (covers an annual membership) per calendar year (subject to auto-renewal) Receive either a $120 statement credit every 4 years for a Global Entry application fee or a statement credit up to $85 every 4.5 years for a TSA PreCheck® (through a TSA official enrollment provider) application fee, when charged to your Platinum Card®. (Card Members approved for Global Entry will also receive access to TSA PreCheck at no additional cost.) Using Your Membership Rewards Points You’ll earn Membership Rewards points with The Platinum Card® from American Express. These are some of the most valuable transferable points out there, thanks to their impressive suite of travel partners: Aer Lingus AerClub (1:1 ratio) Aeromexico Rewards (1:1.6 ratio) Air Canada Aeroplan (1:1 ratio) Air France-KLM Flying Blue (1:1 ratio) ANA Mileage Club (1:1 ratio) Avianca LifeMiles (1:1 ratio) British Airways Club (1:1 ratio) Cathay Pacific Asia Miles (1:1 ratio) Choice Privileges (1:1 ratio) Delta SkyMiles (1:1 ratio) Emirates Skywards (1:1 ratio) Etihad Guest (1:1 ratio) HawaiianMiles (1:1 ratio) Hilton Honors (1:2 ratio) Iberia Plus (1:1 ratio) JetBlue TrueBlue (250:200 ratio) Marriott Bonvoy (1:1 ratio) Qantas Frequent Flyer (1:1 ratio) Qatar Airways Privilege Club (1:1 ratio) Singapore KrisFlyer (1:1 ratio) Virgin Atlantic Flying Club (1:1 ratio) You can also use your Membership Rewards points to book flights and hotels in the Amex Travel portal. (This isn’t the best use of your points. I’d generally advise against it; it’s always best to transfer your points to travel partners rather than using the card’s travel portal.) Breaking Down the Amex Platinum’s Credits and Benefits I love Amex cards for their perks and benefits, and the Amex Platinum comes with over $1,500 worth of them. It’s like a little coupon book. Here’s what you get with the card: Perks for a Streamlined Airport Experience (Lounge Access, CLEAR Plus, Global Entry/TSA PreCheck) One of my favorite perks of this card is that it offers the most comprehensive lounge access out there, and to some of the best lounges in the game. The Centurion Lounges are stellar, as are the Delta Sky Club lounges. You’ll also get access to the Priority Pass network of over 1,700 lounges around the world. The Amex Platinum also gets you to the lounge quicker with statement credits that cover services to expedite airport security. You’ll get up to $199 annual CLEAR® Plus statement credit (covers an annual membership) per calendar year (subject to auto-renewal). You’ll also receive either a $120 statement credit every 4 years for a Global Entry application fee or a statement credit up to $85 every 4.5 years for a TSA PreCheck® (through a TSA official enrollment provider) application fee, when charged to your Platinum Card®. Keep in mind that if you’re approved for Global Entry, you’ll also get access to TSA PreCheck at no additional cost. So, if you’re traveling internationally, just go with Global Entry. The process is a bit more involved (you have to go for an in-person interview), but it’s worth it. Airline and Hotel Credits The Platinum Card also offers up to $200 in airline credit, which sounds great at face value but can be a bit of a pain to use. The credit can only be used on one airline, which you must pre-select, and you can only use it for incidentals, not airfare. However, if you regularly check a bag (and don’t already have an airline credit card that offers free baggage as a perk), you’ll use up that $200 in no time. (You can also use it on things like paid seat selection and in-flight food and beverage.) The card also offers up to $200 back in statement credits on prepaid Fine Hotels + Resorts® or The Hotel Collection bookings through American Express Travel using your Platinum Card®. These are usually pretty luxurious properties, so you won’t be getting any free hotel stays with this benefit alone. But if you’re looking to splash out with a high-end hotel or resort stay, $200 off is pretty nice. Plus, the Amex Platinum offers complimentary Marriott Bonvoy® Gold Elite and Hilton Honors Gold Status, which offer extra perks and benefits when staying at these properties. Lifestyle Statement Credits The “lifestyle” statement credits are where this card can be a bit less useful depending on your spending habits. My favorite of these is the $200 Uber Cash benefit. It’s distributed as $15 in Uber Cash each month, plus you’ll get a bonus of $20 in December after adding your Card to your Uber account. That said, I do find it a bit annoying that you can only use your Uber Cash on rides and orders in the U.S. (when you select an Amex Card for your transaction), since I’m often out of the country. (To receive this benefit, you must have downloaded the latest version of the Uber App and your eligible American Express Platinum Card must be a method of payment on your Uber account. The Amex Benefit may only be used in the United States.) Other lifestyle credits include up to $50 biannual Saks Fifth Avenue credit and up to $155 Walmart+ Credit when you use your Platinum Card to pay for a monthly Walmart+ membership. You’ll also receive up to $240 Digital Entertainment Credit via up to $20 back in statement credits each month on eligible purchases made with your Platinum Card on one or more of the following: Disney+, a Disney+ Bundle, ESPN+, Hulu, The New York Times, Peacock, and The Wall Street Journal. (This is an easy set and forget if you subscribe to any of these.) Amex Offers In addition to all those statement credits, you’ll get access to Amex Offers. With these, you can save money or earn bonus points with select retailers. The offers are ever-changing and targeted, meaning you won’t have the same offers as another cardholder. The majority of these offers are “spend X, get Y amount back.” The Amex Platinum’s Travel Insurance Last but not least, you’ll get great travel insurance with this card. No matter where you’re going, travel insurance is the most important thing to get for your trip. Hopefully, you won’t need to use it, but I know from experience that if you do, you’ll be glad to have it. I’ve had to use it around the world, from Argentina to South Africa to Italy. Each time something has gone wrong on the road, travel insurance has helped me recoup my costs. While I always recommend purchasing a standalone travel insurance policy, many travel cards offer travel insurance as a perk for no additional cost (apart from the card’s annual fee). While I wouldn’t solely rely on the card’s travel insurance, it’s a nice benefit. Here are the travel protections that the Platinum offers: Trip cancellation and interruption coverage of $10,000 per person, per trip (on round-trip tickets only, $20,000 per 12 consecutive month period) Trip delay coverage up to $500 if the delay is six hours or more (on round-trip tickets only, two claims per 12 consecutive-month period) Emergency evacuation and medical transport coverage: no limit; must be coordinated via the Premium Global Assist Hotline Cell phone protection up to $800 minus a $50 deductible (two approved claims per 12-month period, and you must have paid your cell phone bill with your card) Lost luggage coverage up to $3,000 per person Secondary car rental coverage Keep in mind that to be eligible for these protections, you have to pay for your trip (or cell phone bill) with your Amex Platinum. Also, always be sure to always read the fine print so that you understand exactly what’s covered! Eligibility and Benefit level varies by Card. Terms, Conditions, and Limitations Apply. Please visit americanexpress.com/benefitsguide for more details. Underwritten by Amex Assurance Company. Who is the Amex Platinum for? The Amex Platinum is best for frequent travelers who’ll use the premium perks, like easier airport experiences and elite status at hotels. If you can also take advantage of a few lifestyle credits, it’s a solid deal. I’d say just run the numbers and see if the value adds up for you. (And read my post on picking a travel card if you need more help.) As with any rewards card, you should not get this card if you’re already carrying a balance or plan to carry a balance. Interest rates for travel cards are notoriously high and the points just aren’t worth it if you’re paying interest each month. This card is also not for anyone with poor credit, as you need excellent credit to qualify. (If that’s you, check out the best credit cards for bad credit so you can start improving your score today.) *** The Amex Platinum isn’t cheap but if you travel often, the perks can easily outweigh the hefty annual fee. From airport lounge access to generous travel credits, it’s a card built for those who live life on the move. If you’re a frequent flyer looking to travel smarter and more comfortably, I think this card is worth it. Click here to learn more and sign up! Stop paying full price for travel! Download my free guide to points and miles and learn how to use points and miles for free travel! It's how all the pros travel so much! In this guide, I'll show you: How to Pick a Credit Card How to Earn Up to 10x Miles on Your Spending How to Redeem Your Points And a Ton of Other Money Saving Tips! Get the guide Book Your Trip: Logistical Tips and Tricks Book Your Flight Find a cheap flight by using Skyscanner. It’s my favorite search engine because it searches websites and airlines around the globe so you always know no stone is being left unturned. Book Your Accommodation You can book your hostel with Hostelworld. If you want to stay somewhere other than a hostel, use Booking.com as it consistently returns the cheapest rates for guesthouses and hotels. Don’t Forget Travel Insurance Travel insurance will protect you against illness, injury, theft, and cancellations. It’s comprehensive protection in case anything goes wrong. I never go on a trip without it as I’ve had to use it many times in the past. My favorite companies that offer the best service and value are: SafetyWing (best for budget travelers) World Nomads (best for mid-range travelers) InsureMyTrip (for those 70 and over) Medjet (for additional evacuation coverage) Want to Travel for Free? Travel credit cards allow you to earn points that can be redeemed for free flights and accommodation — all without any extra spending. Check out my guide to picking the right card and my current favorites to get started and see the latest best deals. Need a Rental Car? Discover Cars is a budget-friendly international car rental website. No matter where you’re headed, they’ll be able to find the best — and cheapest — rental for your trip! Need Help Finding Activities for Your Trip? Get Your Guide is a huge online marketplace where you can find cool walking tours, fun excursions, skip-the-line tickets, private guides, and more. Ready to Book Your Trip? Check out my resource page for the best companies to use when you travel. I list all the ones I use when I travel. They are the best in class and you can’t go wrong using them on your trip. The post The Platinum Card® from American Express Review appeared first on Nomadic Matt's Travel Site. View the full article

Over the past four years, a remarkable story has been quietly unfolding in the knowledge sector: a growing interest in the viability of a 4-day workweek. Iceland helped spark this movement with a series of government-sponsored trials which unfolded between 2015 and 2019. The experiment eventually included more than 2,500 workers, which, believe it or not, is about 1% of Iceland’s total working population. These subjects were drawn from multiple different types of workplaces, including, notably, offices and social service providers. Not everyone dropped an entire workday, but most participants reduced their schedule from forty hours to at most thirty-six hours a week of work. The UK followed suit with a six-month trial, including over sixty companies and nearly 3,000 employees, concluding in 2023. A year later, forty-five firms in Germany participated in a similar half-year experiment with a reduced workweek. And these are far from the only such experiments being conducted. (According to a 2024 ​KPMG survey​, close to a third of large US companies are also, at the very least, considering the idea.) Let’s put aside for the moment whether or not a shortened week is a good idea (more on this later). I want to first focus on a consistent finding in these studies that points toward a critical lesson about how to make work deeper and more sustainable. Every study I’ve read (so far) claims that reducing the workweek does not lead to substantial productivity decreases. From the Icelandic study​: “Productivity remained the same or improved in the majority of workplaces.” ​From the UK study​: “Across a wide variety of sectors, wellbeing has improved dramatically for staff; and business productivity has either been maintained or improved in nearly every case.” ​From the German study​: “Employees generally felt better with fewer hours and remained just as productive as they were with a five-day week, and, in some cases, were even more productive. Participants reported significant improvements in mental and physical health…and showed less stress and burnout symptoms, as confirmed by data from smartwatches tracking daily stress minutes.” Step back and consider these observations for a moment. They’re astounding results! How is it possible that working notably fewer hours doesn’t reduce the overall value that you produce? A big part of the answer, I’m convinced, is a key idea from my book, ​Slow Productivity​: workload management. Most knowledge workers are granted substantial autonomy to control their workload. It’s technically up to them when to say “yes” and when to say “no” to requests, and there’s no direct supervision of their current load of tasks and projects, nor is there any guidance about what this load should ideally be. Many workers deal with the complexity of this reality by telling themselves what I sometimes call the workload fairy tale, which is the idea that their current commitments and obligations represent the exact amount of work they need to be doing to succeed in their position. The results of the 4-day work week experiment, however, undermine this belief. The key work – the efforts that really matter – turned out to require less than forty hours a week of effort, so even with a reduced schedule, the participants could still fit it all in. Contrary to the workload fairytale, much of our weekly work might be, from a strict value production perspective, optional. So why is everyone always so busy? Because in modern knowledge work we associate activity with usefulness (a concept I call “pseudo-productivity” in ​my book​), so we keep saying “yes,” or inventing frenetic digital chores, until we’ve filled in every last minute of our workweek with action. We don’t realize we’re doing this, but instead grasp onto the workload fairy tale’s insistence that our full schedule represents exactly what we need to be doing, and any less would be an abdication of our professional duties. The results from the 4-day work week not only push back against this fairy tale, but also provide us with a hint about how we could make work better. If we treated workload management seriously, and were transparent about how much each person is doing, and what load is optimal for their position; if we were willing to experiment with different possible configurations of these loads, and strategies for keeping them sustainable, we might move closer to a productive knowledge sector (in a traditional economic sense) free of the exhausting busy freneticism that describes our current moment. A world of work with breathing room and margin, where key stuff gets the attention it deserves, but not every day is reduced to a jittery jumble. All of this brings me back to whether or not a 4-day workweek is a good idea. I have nothing against it in the abstract, but it also seems to be addressing a symptom instead of the underlying problem. If we truly solve some of the underlying workload issues, switching from five to four days might no longer feel like such a relief to so many. #### For more on my thoughts on technology and work more generally, check out my recent books on the topic: Slow Productivity, A World Without Email, and Deep Work. The post The Workload Fairy Tale appeared first on Cal Newport. View the full article

Over the past four years, a remarkable story has been quietly unfolding in the knowledge sector: a growing interest in the viability of a 4-day workweek. Iceland helped spark this movement with a series of government-sponsored trials which unfolded between 2015 and 2019. The experiment eventually included more than 2,500 workers, which, believe it or not, is about 1% of Iceland’s total working population. These subjects were drawn from multiple different types of workplaces, including, notably, offices and social service providers. Not everyone dropped an entire workday, but most participants reduced their schedule from forty hours to at most thirty-six hours a week of work. The UK followed suit with a six-month trial, including over sixty companies and nearly 3,000 employees, concluding in 2023. A year later, forty-five firms in Germany participated in a similar half-year experiment with a reduced workweek. And these are far from the only such experiments being conducted. (According to a 2024 ​KPMG survey​, close to a third of large US companies are also, at the very least, considering the idea.) Let’s put aside for the moment whether or not a shortened week is a good idea (more on this later). I want to first focus on a consistent finding in these studies that points toward a critical lesson about how to make work deeper and more sustainable. Every study I’ve read (so far) claims that reducing the workweek does not lead to substantial productivity decreases. From the Icelandic study​: “Productivity remained the same or improved in the majority of workplaces.” ​From the UK study​: “Across a wide variety of sectors, wellbeing has improved dramatically for staff; and business productivity has either been maintained or improved in nearly every case.” ​From the German study​: “Employees generally felt better with fewer hours and remained just as productive as they were with a five-day week, and, in some cases, were even more productive. Participants reported significant improvements in mental and physical health…and showed less stress and burnout symptoms, as confirmed by data from smartwatches tracking daily stress minutes.” Step back and consider these observations for a moment. They’re astounding results! How is it possible that working notably fewer hours doesn’t reduce the overall value that you produce? A big part of the answer, I’m convinced, is a key idea from my book, ​Slow Productivity​: workload management. Most knowledge workers are granted substantial autonomy to control their workload. It’s technically up to them when to say “yes” and when to say “no” to requests, and there’s no direct supervision of their current load of tasks and projects, nor is there any guidance about what this load should ideally be. Many workers deal with the complexity of this reality by telling themselves what I sometimes call the workload fairy tale, which is the idea that their current commitments and obligations represent the exact amount of work they need to be doing to succeed in their position. The results of the 4-day work week experiment, however, undermine this belief. The key work – the efforts that really matter – turned out to require less than forty hours a week of effort, so even with a reduced schedule, the participants could still fit it all in. Contrary to the workload fairytale, much of our weekly work might be, from a strict value production perspective, optional. So why is everyone always so busy? Because in modern knowledge work we associate activity with usefulness (a concept I call “pseudo-productivity” in ​my book​), so we keep saying “yes,” or inventing frenetic digital chores, until we’ve filled in every last minute of our workweek with action. We don’t realize we’re doing this, but instead grasp onto the workload fairy tale’s insistence that our full schedule represents exactly what we need to be doing, and any less would be an abdication of our professional duties. The results from the 4-day work week not only push back against this fairy tale, but also provide us with a hint about how we could make work better. If we treated workload management seriously, and were transparent about how much each person is doing, and what load is optimal for their position; if we were willing to experiment with different possible configurations of these loads, and strategies for keeping them sustainable, we might move closer to a productive knowledge sector (in a traditional economic sense) free of the exhausting busy freneticism that describes our current moment. A world of work with breathing room and margin, where key stuff gets the attention it deserves, but not every day is reduced to a jittery jumble. All of this brings me back to whether or not a 4-day workweek is a good idea. I have nothing against it in the abstract, but it also seems to be addressing a symptom instead of the underlying problem. If we truly solve some of the underlying workload issues, switching from five to four days might no longer feel like such a relief to so many. #### For more on my thoughts on technology and work more generally, check out my recent books on the topic: Slow Productivity, A World Without Email, and Deep Work. The post The Workload Fairy Tale appeared first on Cal Newport. View the full article

Prime Minister Sir Keir Starmer describes scenes as ‘appalling’ View the full article

Workflow planning will help simplify your processes so your team can more done, complete work on time, and run into fewer delays. Here's how it works so you can make use of this process and increase your chances of project success. The post How to Do Workflow Planning: Steps & Best Practices appeared first on The Digital Project Manager. View the full article

European shares kicked off the week on a positive note on Monday, recouping the previous session’s losses, as markets heaved a sigh of relief after U.S. President Donald The President delayed his threat to impose a 50% tariff on the region. The pan-European STOXX 600 index closed 1% higher. It had lost 0.9% on Friday after The President unexpectedly called for sharp tariffs on goods from the European Union, saying that negotiations with the region were not moving fast enough. On Sunday, The President extended the deadline for tariffs to July 9 from June 1, after European Commission President Ursula von der Leyen said the 27-nation bloc needed more time to produce a deal. The automobiles and parts index, sensitive to tariff-related pressures, led broader gains with a 1.8% rise. However, they were limited by a 3.3% decline in Porsche. Defence companies were among the biggest boosts to the STOXX 600 index, with Rheinmetall and Leonardo gaining over 3% each and the aerospace and defence index advancing 1.7%. The stocks also pulled up the industrial goods and services sector by 1.5%. The defence and auto sectors helped German stocks rise by 1.7%, near a record high. Luxury stocks, highly exposed to the U.S. market, also gained. Shares of Kering, LVMH and Richemont rose about 1% each, as did the broader index “While more time for EU-U.S. negotiations is good news, the speed of the rebound in stocks suggests that investors may have become too optimistic on the path for trade discussions,” said Mark Haefele, chief investment officer at UBS Global Wealth Management. The euro jumped along with other risk-sensitive currencies, while euro zone government bond yields were little changed, as The President backtracked from his tariff threats. Rising concerns about the U.S. economic slowdown and fiscal woes, underscored by Moody’s credit rating downgrade on May 16, are pushing investors to limit their exposure to U.S. assets. “If you want to have a low-risk portfolio, the U.S. is where you would go first, but with the trade tensions and geopolitical tensions, this favourable sentiment has shifted,” said Ipek Ozkardeskaya, a senior market analyst at Swissquote Bank. Trading volumes were lighter than usual due to public holidays in the U.S. and the UK markets. However, U.S. stock futures were up more than 1% each. Thyssenkrupp jumped 8.8% after a weekend report said the submarine and car parts maker plans to hold a shareholder meeting on August 8 to approve an expected spin-off of its warship division. Thyssenkrupp was not immediately available for comment. Zealand Pharma topped the STOXX 600 with a 10% advance. —Nikhil Sharma and Purvi Agarwal, Reuters View the full article

Google AI agents can now modify campaigns automatically, but advertisers at Marketing Live raised control concerns. The post Google’s New AI Tools Promise Faster Ads, But Raise Control Concerns appeared first on Search Engine Journal. View the full article

A new study paints a promising picture for the ways that digital technology use affects the aging brain. Published in Nature Human Behavior last month, neuroscientists at Baylor University and the University of Texas at Austin conducted a meta-analysis drawing on 57 different studies and data from more than 400,000 participants over the age of 50. A digital brain boost The new study found that across the board, the use of everyday digital technology like computers, smartphones, and the internet is associated with lower measures of cognitive decline in middle-aged and older adults. The strength of that positive association was comparable to established protective factors for dementia like reduced blood pressure, cognitively engaging hobbies, and exercise. The results contradict assumptions that long-term technology use might lead to cognitive decline in old age. “There was no credible evidence from the longitudinal studies, or the meta-analysis as a whole, for widespread digital ‘brain drain’ or ‘digital dementia’ as a result of general, natural uses of digital technology,” coauthors Jared Benge and Michael Scullin wrote. The meta-analysis, which aggregated findings across many different pieces of research, included previous studies on digital technology use in adults older than 50 if they examined cognitive performance or dementia diagnosis as an outcome. The average participant age was 68.7 years at the beginning of the study (a third of the studies were longitudinal, collecting data over time). These participants are described as “digital pioneers” who did not have access to technology and the internet while growing up. Within the meta-analysis, the three studies that focused on the use of social media showed findings that are more mixed, with inconsistent results for cognitive measures. The authors hypothesize that increased social media use could mean participants had less face-to-face social interaction, which is notable because in-person socializing is believed to protect the aging brain against dementia. Helping seniors stay social Beyond social media, technology use could enable a thriving social life for aging adults, who might use video calls, messaging, and email to stay in touch with loved ones—digital tools that share little in common with social media’s algorithmic feeds. “Digitally enabled social connections improve feelings of loneliness in some older adults, but they may also increase exposure to socially driven misinformation or reduce the frequency of face-to-face relationships,” the authors wrote. “Additional work is therefore needed to understand how, when, and for whom digital social connectedness benefits well-being and cognition.” The authors also suggest that future studies should look at the same trends in lower-income countries, where a spike in dementia diagnosis is expected and access to technology is expanding rapidly. While the study’s results show a robust positive trend between the use of technology and a healthy aging mind, figuring out the root cause of those positive outcomes is a bit of a chicken-and-egg problem. “For example, decreased walking speed presages cognitive decline in a host of neurodegenerative diseases, but the reverse causal direction is also present: Regular walking leads to better cognitive performance and slower rates of cognitive decline,” the authors wrote. For aging adults, it’s possible that better cognition promotes technology use, even as technology use promotes better cognition. “While the current meta-analysis showed a consistent, strong positive association between natural uses of digital technologies and overall cognitive well-being, there is no simple answer to whether technology is ‘always good’ or ‘always bad’ for the aging brain,” the authors wrote. “It is unknown whether the current findings will hold in future decades for people who were initially exposed to digital technologies during childhood or as the types of general digital technology exposure change.” View the full article

U.S. President Donald The President said on Monday he is considering taking $3 billion of previously awarded grant money for scientific and engineering research away from Harvard University and giving it to trade schools. His comments on his social media platform Truth Social come less than a week after his administration sought to block the Ivy League school from enrolling foreign students as part of The President’s extraordinary effort to seize some government control of U.S. academia. The President, a Republican, has frozen some $3 billion in federal grants to Harvard in recent weeks, complaining that it has hired Democrats, “Radical Left idiots and ‘bird brains'” as professors. Harvard, a private university, has sued to restore the funding, saying the cuts are an unconstitutional attack on its free speech rights and unlawful. Most of that grant money is appropriated by Congress for the National Institutes of Health to disburse to fund biomedical research after a lengthy application process by individual scientists, work that is not typically done at trade schools. It was not clear whether The President was referring to Harvard grants his administration has already frozen. Harvard has said it was told that virtually all of its federal grant awards were revoked earlier in May, in a series of letters by the NIH, the U.S. Forest Service, the Department of Energy, the Department of Defense and other agencies. The letters each said the grants were being suspended because they “no longer effectuate agency priorities.” Harvard did not respond to a request for comment on Monday. The White House did not respond to questions about the specific funds The President wants to repurpose or how it could be reallocated to trade schools under the law. On Friday, a U.S. judge temporarily blocked the The President administration from revoking Harvard’s ability to enroll foreign students, a policy the university said was part of The President’s broader effort to retaliate against it for refusing to “surrender its academic independence.” The order provides temporary relief to thousands of international students, who were faced with potentially having to transfer under a policy that the university in Cambridge, Massachusetts called a “blatant violation” of the U.S. Constitution and other federal laws. It said the move would have an “immediate and devastating effect” on the university and more than 7,000 visa holders. Harvard enrolled nearly 6,800 international students in its current school year, representing 27% of total enrollment and a significant chunk of its revenue from tuition fees. The move was the latest escalation in a broader battle between Harvard and the White House, as The President seeks to compel universities, law firms, news media, courts and other institutions to align with his agenda. The President and fellow Republicans have long accused elite universities of left-wing bias. In recent weeks, the administration has proposed ending Harvard’s tax-exempt status and hiking taxes on its endowment, and opened an investigation into whether it violated civil rights laws by discriminating against “white, Asian, male, or straight employees” or job or training program applicants. Harvard has said its hiring and admissions are compliant with the law. —David Shepardson, Jonathan Allen, Nate Raymond and Jasper Ward, Reuters View the full article

Chancellor says Berlin has joined the US, UK and France in lifting range restrictions on weapons supplied to KyivView the full article

The government should recognise that it has a stake in its people having enough children View the full article

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I was looking at our LLM filter in Ahrefs Web Analytics and noticed some common generative engines missing from the list. They’re in our filters, but we aren’t seeing any data from them for sites. This invisible traffic problem comes…Read more ›View the full article

Mayfield speaks out as ministers face pressure over planned cuts to disability benefitsView the full article

Technology that finds all the needles in the haystack is better than sampling. By Alan Anderson, CPA Transforming Audit for the Future Go PRO for members-only access to more Alan Anderson. View the full article

Technology that finds all the needles in the haystack is better than sampling. By Alan Anderson, CPA Transforming Audit for the Future Go PRO for members-only access to more Alan Anderson. View the full article

Go PRO for members-only access to more CPA Trendlines Research. View the full article