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October 30, 2024
Diwali 2024: Greetings and Wishes
Diwali 2024: Greetings and Wishes
Edited & Posted by the Editor | 12:29 AM | View the original post
October 22, 2024
Timex is celebrating 170 Years of Watchmaking by releasing a limited-edition Anniversary Watch for just $1.
MIDDLEBURY, Conn., October 21, 2024 —Timex, a pioneer in the watchmaking industry, is celebrating its 170th anniversary by offering 1,000 limited-edition Waterbury watches for just $1. This initiative revives a legacy of accessible timekeeping.
On November 16, consumers can claim their limited-edition $1 watch at participating retailers starting at 10 AM local time. The watches will also be available online at Timex.com (US), Timex.ca, Timex.co.uk (10 AM GMT), Timex.eu (10 AM CET), and shop.timexindia.com (10 AM IST).
Don’t miss this unique opportunity to own a limited-edition $1 watch and participate in Timex’s celebration of time, resilience, and the enduring spirit of the dollar.
This release pays tribute to Timex’s legacy of exceptional watchmaking since 1854, originating from its roots as the Waterbury Clock Company. It commemorates Timex’s iconic Yankee pocket watch, the first timepiece sold for $1 and known as “the watch that made the dollar famous.”
One hundred seventy years ago, timekeeping was reserved for the elite, as pocket watches were priced out of reach for many. The Waterbury Clock Company changed this by democratizing timekeeping for everyone. At that time, five pounds of candy cost 35 cents, and you could buy a Yankee dollar pocket watch for just one dollar. Farmers relied on it during harvests, train conductors used it to maintain punctuality, and factory workers synchronized their breaks looking at its hands.
By the turn of the century, over six million of these “dollar watches” had been purchased by everyday Americans. Even the literary legend Mark Twain couldn’t resist getting one — he sent Timex a dollar in exchange for his watch.
Shari Fabiani, Chief Marketing Officer of Timex Group, emphasized the importance of this release: “Our 170th anniversary is not just a celebration of our rich history; it is a heartfelt reaffirmation of our commitment to making quality timepieces accessible to everyone. The $1 Anniversary Watch pays tribute to the original Waterbury campaign, which promised ‘correct time for little money.’ In creating this watch, we aimed to honor the loyal consumers who have trusted and valued our brand over the years.”
This release is part of Timex’s cherished Waterbury collection, celebrating its roots as the Waterbury Clock Company. It features a glossy ice-white dial adorned with the official logo for the 170th Anniversary Edition and elevated by 3D lacquered Roman numeral markers. On the reverse side, the watch showcases a unique case back with a vertical brushing finish engraved to commemorate this significant milestone in Timex’s watchmaking history.
Source: TIMEX
Edited & Posted by the Editor | 11:22 AM | View the original post
October 14, 2024
Three economists have won the 2024 Nobel Prize in Economics for their studies on how institutions are formed and their impact on prosperity.
Stockholm, October 14, 2024 — The Royal Swedish Academy of Sciences has decided to award the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 2024 to:
Daron Acemoglu
Massachusetts Institute of Technology, Cambridge, USA
Simon Johnson
Massachusetts Institute of Technology, Cambridge, USA
James A. Robinson
University of Chicago, IL, USA
“for studies of how institutions are formed and affect prosperity.”
“They have helped us understand differences in prosperity between nations.”
The 2021 laureates in economic sciences, Daron Acemoglu, Simon Johnson, and James Robinson, have highlighted the significance of societal institutions in determining a country’s prosperity. Their research emphasizes that societies with weak rule of law and exploitative institutions struggle to foster economic growth and positive transformation.
When Europeans colonized large parts of the globe, the institutions in those societies changed. This change was sometimes dramatic, but it did not occur the same way everywhere. In some places, the goal was to exploit the indigenous population and extract resources for the colonizers’ benefit. In other areas, the colonizers established inclusive political and economic systems for the long-term benefit of European migrants.
Research conducted by Nobel laureates has highlighted the impact of societal institutions established during colonization on countries’ prosperity. They found that implementing inclusive institutions in poorer colonized nations contributed to long-term prosperity. This insight helps us understand why some previously wealthy colonies are now impoverished and vice versa.
In some countries, the presence of extractive institutions and low economic growth presents a challenge. Transitioning to inclusive institutions would bring about long-term benefits for everyone. However, the short-term gains provided by extractive institutions often serve the interests of those in power. As long as the political system guarantees their continued control, it’s difficult for people to trust promises of future economic reforms. According to the laureates, this lack of trust is a significant obstacle to improvement.
In times of potential revolution, those in power face a challenging decision. While they may initially attempt to appease the public with promises of economic reforms, the lack of credibility in these promises can ultimately lead to the establishment of democracy as the most viable solution.
“Reducing the significant income disparities between nations is one of the most pressing challenges of our time. The laureates have highlighted the crucial role of societal institutions in addressing this issue,” stated Jakob Svensson, Chair of the Committee for the Prize in Economic Sciences.
Source: The Royal Swedish Academy of Sciences
|GlobalGiants.Com|
Edited & Posted by the Editor | 11:06 AM | View the original post
October 12, 2024
Dussehra Greetings!
Dussehra Greetings!
Edited & Posted by the Editor | 7:04 AM | View the original post
