TransferWise, for example, charges six times less for international cash transfers than Santander, a high-street bank.
—The Economist in ‘The great foreign exchange rip-off is coming to an end‘
I’ve never understood using multiples for discounts. What does charging ‘six times less’ even mean?
I understand what charging ‘a sixth’ means – ⅙ times the original.
I understand what charging ‘six times’ (more) means – 6 times the original.
I do not understand what ‘six times less’ means. It’s a ridiculously ambiguous term, and I’m sad that even the Economist used it.
P.S.: I love Transferwise. I cannot comprehend how people transferred money internationally before it came around – it’s fast, it’s cheap, and it’s transparent. Everything that the banking system is not. I really love it.
Wealth does not equal wisdom, but it does equal power.
—The Economist in ‘The flaws of finance‘
They were initially bemused by the complexity of bus timetables, bin collections and—most of all—by the changeable weather. “In our country, when it’s summer, it’s summer,” says Ziead Alsaouah, Mr Batak’s son-in-law.
—The Economist | After the exodus
I had a very similar reaction to the weather when I moved here 8 years ago.
North India, where I spent the first 24 years of my life, has a very predictable weather. When it’s summer, it’s hot and dry for months on end. When it’s the rain season, it’s raining almost every day for a month. And when winter arrives, it’s bitterly cold, mostly dry, and frequently foggy (recently smoggy) for months on end.
Contrast that to the weather here on the island – it’s common to have at least two seasons in a day. Three’s not uncommon either. We had two months of constant dry, warm summers this year, and it’s already caused a mild panic. If we get a week of snow in the winter, news bulletins are full of ‘snowcalypse’ references.
It’s unsettling, at least initially, for people coming from places with stable, ‘continental’ weather patterns. Where culture, life, traditions, activities are based on the season, what do we do when the seasons just aren’t anymore?
Continue reading Welcome to the UK…
Liberal democracies, he has argued, faced with the dark menace of nationalism, need heroes if they are to rouse a positive national spirit and defeat the “sad passions” fanned by populists.
—The Economist on Emmanuel Macron in France’s victorious footballers do Emmanuel Macron a favour – France’s World Cup triumph
Continue reading Democratic heroes
Egon Bittner, a sociologist, once defined policing as responding to “something that ought not to be happening and about which someone had better do something now”
—The Economist | The blurred blue line
As temperatures soar, some may be tempted to think again. But as the late Lord Donaldson, a senior judge, once put it: “There is no urgent need to go discarding something which has been out of date for at least a century.”
—The Economist | Wigged out