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Storytelling allows elders to transfer values and meaning to younger generations

<a href="https://theconversation.com/profiles/mary-ann-mccoll-704728">Mary Ann McColl</a>, <a href="https://theconversation.com/institutions/queens-university-ontario-1154">Queen's University, Ontario</a> If you spent time over the holidays with elderly relatives or friends, you may have heard many of the same stories repeated — perhaps stories you’d heard over the years, or even over the past few hours. Repeated storytelling can sometimes be unnerving for friends and families, raising concerns about a loved one’s potential cognitive decline, memory loss or perhaps even the onset of dementia. <a href="https://tenstories.ca/">Our research</a> at Queen’s University suggests there is another way to think about repeated storytelling that makes it easier to listen and engage with the stories. We interviewed 20 middle-aged adults who felt they had heard the same stories over and over from their aging parent. We asked them to tell us those stories and we recorded and transcribed them. We used a <a href="https://doi.org/10.1108/14439881211248356">narrative inquiry approach</a> to discover that repeated storytelling is a key method for elders to communicate what they believe to be important to their children and loved ones. Narrative inquiry uses the text of stories as research data to explore how people create meaning in their lives. <h2>Transmitting values</h2> Based on nearly 200 collected stories, we found that there are approximately <a href="https://doi.org/10.1111/scs.13121">10 stories</a> that older parents repeatedly tell to their adult children. The hypothesis was that repeated storytelling was about inter-generational transmission of values. By exploring the themes of those repeated stories, we could uncover the meaning and messages elders were communicating to their loved ones. The ultimate purpose was to offer a new and more constructive way of thinking about stories that we’ve heard many times before, and that can be otherwise perceived as alarming. <h2>Here’s what we have learned:</h2> <ol> <li> There are typically just 10 stories that people tell repeatedly. While 10 is not a magic number, it does seem to be about the right number to capture the stories that are told over and over. Interviewees felt that a set of approximately 10 allowed them to do justice to their parent’s stories. </li> <li> Among our interviewees, a significant number of their parents’ stories – 87 per cent — took place when they were in their teens or twenties. A person’s second and third decades are a time when they make many of the decisions that shape the rest of their lives; a time when values are consolidated and the <a href="https://doi.org/10.1080/09658211.2013.863358">adult identity is formed</a> </li> <li> What’s important about the 10 stories is not the factual details, but the lesson that was learned, or the value that was reinforced — values like loyalty toward friends, putting family first, maintaining a sense of humour even in hard times, getting an education, speaking up against injustice, and doing what’s right. </li> <li> Key themes in the stories reflected the significant events and prevailing values of the early to mid-20th century. Many of the stories revolved around the war, and both domestic and overseas experiences that were formative. Many of our interviewees heard stories about immigrating to Canada, starting out with very little, seeking a better life and working hard. Stories often reflected a more formal time when it was important to uphold standards, make a good impression, know one’s place and adhere to the rules. </li> <li> The stories elders tell appear to be curated for the individual receiving them. They would be different if told to another child, a spouse or a friend. </li> </ol> <h2>Tips for listening</h2> Our research offers some tips for listening to stories from elders: <ul> <li> Focus on just 10 stories. It can make the listening seem less overwhelming. </li> <li> Write them down. Writing challenges us to get the story straight. </li> <li> Notice your loved one’s role in the story, as the message is often contained in that role. </li> <li> Be attentive to feelings, sensations, tension and discomfort. These can be signals or clues to the meaning of a story. </li> <li> Finally, remember these stories are for you — selected and told in the context of your relationship with your loved one. As such, they are a gift from a loved one who is running out of time. </li> </ul> <h2>The importance of receiving stories</h2> Storytelling is an <a href="https://doi.org/10.1002/cad.20067">essential human process</a> and a universal experience associated with aging. Neuroscientists suggest that storytelling has practical survival value for individuals and communities, <a href="https://www.jonathangottschall.com/storytelling-animal">as well as social and psychological benefits</a>. It may be as powerful as medication or therapy for <a href="https://doi.org/10.1002/gps.1018">overcoming depression among elders</a>. Storytelling becomes especially important <a href="https://doi.org/10.1080/13607863.2017.1396581">when people become aware of their mortality</a> — when they are ill, suffering or facing death. People don’t necessarily tell the same stories over and over again because they’re losing cognitive function, but because the stories are important, and they feel we need to know them. Telling stories repeatedly isn’t about forgetfulness or dementia. It’s an effort to share what’s important. Our hope is that by better understanding elderly storytelling, caregivers may be able to listen in a different way to those repeated stories and understand the messages they contain. Those 10 stories can help us to know our loved one at a deeper level and assist our parent or grandparent with an important developmental task of old age. This research offers a constructive way for caregivers to hear the repeated stories told by their aging parents, and to offer their loved one the gift of knowing they have been seen and heard.<img style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important;" src="https://counter.theconversation.com/content/197766/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" /> <a href="https://theconversation.com/profiles/mary-ann-mccoll-704728">Mary Ann McColl</a>, Professor, School of Rehabilitation Therapy, <a href="https://theconversation.com/institutions/queens-university-ontario-1154">Queen's University, Ontario</a> Image credits: Getty Images This article is republished from <a href="https://theconversation.com">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/storytelling-allows-elders-to-transfer-values-and-meaning-to-younger-generations-197766">original article</a>.

Mind

Bees have appeared on coins for millennia, hinting at an age-old link between sweetness and value

<a href="https://theconversation.com/profiles/adrian-dyer-387798">Adrian Dyer</a>, <a href="https://theconversation.com/institutions/monash-university-1065">Monash University</a> In 2022, the Royal Australian Mint issued a $2 coin decorated with honeybees. Around 2,400 years earlier, a mint in the kingdom of Macedon had the same idea, creating a silver obol coin with a bee stamped on one side. Over the centuries between these two events, currency demonstrating a symbolic link between honey and money is surprisingly common. In a recent study in <a href="https://s3.ap-southeast-2.amazonaws.com/assets.mmxgroup.com.au/ACR/Bee+Article.pdf">Australian Coin Review</a>, I trace the bee through numismatic history – and suggest a scientific reason why our brains might naturally draw a connection between the melliferous insects and the abstract idea of value. <figure class="align-center "><img src="https://images.theconversation.com/files/536400/original/file-20230709-15-2u5ywn.jpg?ixlib=rb-1.1.0&q=45&auto=format&w=754&fit=clip" sizes="(min-width: 1466px) 754px, (max-width: 599px) 100vw, (min-width: 600px) 600px, 237px" srcset="https://images.theconversation.com/files/536400/original/file-20230709-15-2u5ywn.jpg?ixlib=rb-1.1.0&q=45&auto=format&w=600&h=600&fit=crop&dpr=1 600w, https://images.theconversation.com/files/536400/original/file-20230709-15-2u5ywn.jpg?ixlib=rb-1.1.0&q=30&auto=format&w=600&h=600&fit=crop&dpr=2 1200w, https://images.theconversation.com/files/536400/original/file-20230709-15-2u5ywn.jpg?ixlib=rb-1.1.0&q=15&auto=format&w=600&h=600&fit=crop&dpr=3 1800w, https://images.theconversation.com/files/536400/original/file-20230709-15-2u5ywn.jpg?ixlib=rb-1.1.0&q=45&auto=format&w=754&h=754&fit=crop&dpr=1 754w, https://images.theconversation.com/files/536400/original/file-20230709-15-2u5ywn.jpg?ixlib=rb-1.1.0&q=30&auto=format&w=754&h=754&fit=crop&dpr=2 1508w, https://images.theconversation.com/files/536400/original/file-20230709-15-2u5ywn.jpg?ixlib=rb-1.1.0&q=15&auto=format&w=754&h=754&fit=crop&dpr=3 2262w" alt="" /><figcaption>A Royal Australian Mint 2022 two-dollar coin representing 200 years since the introduction of the honeybee to Australia.</figcaption></figure> <h2>What is currency and why is it important?</h2> Money is a store of value, and can act as a medium of exchange for goods or services. Currency is a physical manifestation of money, so coins are a durable representation of value. Coins have had central role in many communities to enable efficient trade since ancient times. Their durability makes them important time capsules. Ancient Malta was famous for its honey. The modern 3 Mils coin (<a href="https://en.numista.com/catalogue/pieces1775.html">1972-81</a>) celebrates this history with images of a bee and honeycomb. According to the information card issued with the coin set, <blockquote> A bee and honeycomb are shown on the 3 Mils coin, symbolising the fact that honey was used as currency in Ancient Malta. </blockquote> <figure class="align-center "><img src="https://images.theconversation.com/files/536403/original/file-20230709-23-drk2lj.jpg?ixlib=rb-1.1.0&q=45&auto=format&w=754&fit=clip" sizes="(min-width: 1466px) 754px, (max-width: 599px) 100vw, (min-width: 600px) 600px, 237px" srcset="https://images.theconversation.com/files/536403/original/file-20230709-23-drk2lj.jpg?ixlib=rb-1.1.0&q=45&auto=format&w=600&h=582&fit=crop&dpr=1 600w, https://images.theconversation.com/files/536403/original/file-20230709-23-drk2lj.jpg?ixlib=rb-1.1.0&q=30&auto=format&w=600&h=582&fit=crop&dpr=2 1200w, https://images.theconversation.com/files/536403/original/file-20230709-23-drk2lj.jpg?ixlib=rb-1.1.0&q=15&auto=format&w=600&h=582&fit=crop&dpr=3 1800w, https://images.theconversation.com/files/536403/original/file-20230709-23-drk2lj.jpg?ixlib=rb-1.1.0&q=45&auto=format&w=754&h=732&fit=crop&dpr=1 754w, https://images.theconversation.com/files/536403/original/file-20230709-23-drk2lj.jpg?ixlib=rb-1.1.0&q=30&auto=format&w=754&h=732&fit=crop&dpr=2 1508w, https://images.theconversation.com/files/536403/original/file-20230709-23-drk2lj.jpg?ixlib=rb-1.1.0&q=15&auto=format&w=754&h=732&fit=crop&dpr=3 2262w" alt="" /><figcaption>A circulating 3 Mils coin from Malta showing a honeybee on honeycomb.</figcaption></figure> In ancient Greece, bees were used on some of the earliest coins made in Europe. A silver Greek obol coin minted in Macedon between 412 BCE and 350 BCE, now housed in the British Museum, shows a bee on one side of the coin. <figure class="align-center "><img src="https://images.theconversation.com/files/536411/original/file-20230709-182252-v4evxr.jpg?ixlib=rb-1.1.0&q=45&auto=format&w=754&fit=clip" sizes="(min-width: 1466px) 754px, (max-width: 599px) 100vw, (min-width: 600px) 600px, 237px" srcset="https://images.theconversation.com/files/536411/original/file-20230709-182252-v4evxr.jpg?ixlib=rb-1.1.0&q=45&auto=format&w=600&h=293&fit=crop&dpr=1 600w, https://images.theconversation.com/files/536411/original/file-20230709-182252-v4evxr.jpg?ixlib=rb-1.1.0&q=30&auto=format&w=600&h=293&fit=crop&dpr=2 1200w, https://images.theconversation.com/files/536411/original/file-20230709-182252-v4evxr.jpg?ixlib=rb-1.1.0&q=15&auto=format&w=600&h=293&fit=crop&dpr=3 1800w, https://images.theconversation.com/files/536411/original/file-20230709-182252-v4evxr.jpg?ixlib=rb-1.1.0&q=45&auto=format&w=754&h=368&fit=crop&dpr=1 754w, https://images.theconversation.com/files/536411/original/file-20230709-182252-v4evxr.jpg?ixlib=rb-1.1.0&q=30&auto=format&w=754&h=368&fit=crop&dpr=2 1508w, https://images.theconversation.com/files/536411/original/file-20230709-182252-v4evxr.jpg?ixlib=rb-1.1.0&q=15&auto=format&w=754&h=368&fit=crop&dpr=3 2262w" alt="" /><figcaption>An ancient obol from Macedon, dated between 412 BCE and 350 BCE, shows a bee one side.</figcaption></figure> Bees also feature on coins minted elsewhere in the ancient Greek world, such as a bronze coin minted in Ephesus dated between 202 BCE and 133 BCE. <figure class="align-center "><img src="https://images.theconversation.com/files/536407/original/file-20230709-27-a2jvo3.jpg?ixlib=rb-1.1.0&q=45&auto=format&w=754&fit=clip" sizes="(min-width: 1466px) 754px, (max-width: 599px) 100vw, (min-width: 600px) 600px, 237px" srcset="https://images.theconversation.com/files/536407/original/file-20230709-27-a2jvo3.jpg?ixlib=rb-1.1.0&q=45&auto=format&w=600&h=546&fit=crop&dpr=1 600w, https://images.theconversation.com/files/536407/original/file-20230709-27-a2jvo3.jpg?ixlib=rb-1.1.0&q=30&auto=format&w=600&h=546&fit=crop&dpr=2 1200w, https://images.theconversation.com/files/536407/original/file-20230709-27-a2jvo3.jpg?ixlib=rb-1.1.0&q=15&auto=format&w=600&h=546&fit=crop&dpr=3 1800w, https://images.theconversation.com/files/536407/original/file-20230709-27-a2jvo3.jpg?ixlib=rb-1.1.0&q=45&auto=format&w=754&h=686&fit=crop&dpr=1 754w, https://images.theconversation.com/files/536407/original/file-20230709-27-a2jvo3.jpg?ixlib=rb-1.1.0&q=30&auto=format&w=754&h=686&fit=crop&dpr=2 1508w, https://images.theconversation.com/files/536407/original/file-20230709-27-a2jvo3.jpg?ixlib=rb-1.1.0&q=15&auto=format&w=754&h=686&fit=crop&dpr=3 2262w" alt="" /><figcaption>A bronze coin minted in Ephesus, dated between 202BCE and 133BCE, featuring a honeybee.</figcaption></figure> The use of bees on ancient coins extended for many centuries including widely circulated bronze coins, and new varieties <a href="https://coinweek.com/bee-all-that-you-can-bee-honeybees-on-ancient-coins/">continue to be discovered</a>. <h2>Why we might like bees on coins</h2> Why have bees appeared so often on coins? One approach to this question comes from the field of neuro-aesthetics, which seeks to understand our tastes by understanding the basic brain processes that underpin aesthetic appreciation. From this perspective, it seems likely the sweet taste of honey – which indicates the large amount of sugar it delivers – promotes positive neural activity <a href="https://brill.com/view/journals/artp/10/1/article-p1_2.xml">associated with bees and honey</a>. Indeed, primatologist Jane Goodall once proposed that obtaining high-calorie nutrition from bee honey may have been <a href="https://www.sciencedirect.com/science/article/abs/pii/S0066185668800032">an important step</a> in the cognitive development of primates. Our brain may thus be pre-adapted to liking bees due to their association with the sweet taste of honey. Early usage of bees on coins may have been a functional illustration of the link between a known value (honey) and a new form of currency: coins as money. <h2>The bee on modern coins</h2> <figure class="align-center "><img src="https://images.theconversation.com/files/536393/original/file-20230709-17-jywq3f.jpg?ixlib=rb-1.1.0&q=45&auto=format&w=754&fit=clip" sizes="(min-width: 1466px) 754px, (max-width: 599px) 100vw, (min-width: 600px) 600px, 237px" srcset="https://images.theconversation.com/files/536393/original/file-20230709-17-jywq3f.jpg?ixlib=rb-1.1.0&q=45&auto=format&w=600&h=588&fit=crop&dpr=1 600w, https://images.theconversation.com/files/536393/original/file-20230709-17-jywq3f.jpg?ixlib=rb-1.1.0&q=30&auto=format&w=600&h=588&fit=crop&dpr=2 1200w, https://images.theconversation.com/files/536393/original/file-20230709-17-jywq3f.jpg?ixlib=rb-1.1.0&q=15&auto=format&w=600&h=588&fit=crop&dpr=3 1800w, https://images.theconversation.com/files/536393/original/file-20230709-17-jywq3f.jpg?ixlib=rb-1.1.0&q=45&auto=format&w=754&h=738&fit=crop&dpr=1 754w, https://images.theconversation.com/files/536393/original/file-20230709-17-jywq3f.jpg?ixlib=rb-1.1.0&q=30&auto=format&w=754&h=738&fit=crop&dpr=2 1508w, https://images.theconversation.com/files/536393/original/file-20230709-17-jywq3f.jpg?ixlib=rb-1.1.0&q=15&auto=format&w=754&h=738&fit=crop&dpr=3 2262w" alt="" /><figcaption>A 1920 Italian bronze ten-centesimi coin featuring featuring an Italian honeybee on a flower.</figcaption></figure> The use of bees as a design feature has persisted from ancient to modern times. A honeybee visiting a flower is shown on a series of ten-centesimi bronze coins issued in Italy from <a href="https://en.numista.com/catalogue/pieces1960.html">1919 to 1937</a>. (As an aside, the world’s last stock of pure Italian honeybees is found in Australia, on Kangaroo Island, which was declared a sanctuary for Ligurian bees by an <a href="https://www.legislation.sa.gov.au/home/historical-numbered-as-made-acts/1885/0342-Lingurian-Bees-Act-No-342-of-48-and-49-Vic,-1885.pdf">act of parliament</a> in 1885.) <figure class="align-center "><img src="https://images.theconversation.com/files/536416/original/file-20230709-15-60yst8.jpg?ixlib=rb-1.1.0&q=45&auto=format&w=754&fit=clip" sizes="(min-width: 1466px) 754px, (max-width: 599px) 100vw, (min-width: 600px) 600px, 237px" srcset="https://images.theconversation.com/files/536416/original/file-20230709-15-60yst8.jpg?ixlib=rb-1.1.0&q=45&auto=format&w=600&h=586&fit=crop&dpr=1 600w, https://images.theconversation.com/files/536416/original/file-20230709-15-60yst8.jpg?ixlib=rb-1.1.0&q=30&auto=format&w=600&h=586&fit=crop&dpr=2 1200w, https://images.theconversation.com/files/536416/original/file-20230709-15-60yst8.jpg?ixlib=rb-1.1.0&q=15&auto=format&w=600&h=586&fit=crop&dpr=3 1800w, https://images.theconversation.com/files/536416/original/file-20230709-15-60yst8.jpg?ixlib=rb-1.1.0&q=45&auto=format&w=754&h=737&fit=crop&dpr=1 754w, https://images.theconversation.com/files/536416/original/file-20230709-15-60yst8.jpg?ixlib=rb-1.1.0&q=30&auto=format&w=754&h=737&fit=crop&dpr=2 1508w, https://images.theconversation.com/files/536416/original/file-20230709-15-60yst8.jpg?ixlib=rb-1.1.0&q=15&auto=format&w=754&h=737&fit=crop&dpr=3 2262w" alt="" /><figcaption>A coin from Tonga showing 20 honeybees emerging from a hive.</figcaption></figure> More recently, a 20-seniti coin from the Pacific nation of Tonga shows 20 honeybees flying out of a hive. This coin was part of a series initiated by the Food and Agriculture Organization of the United Nations to promote sustainable agricultural and cultural development around the world. Bees are relevant here because their pollinating efforts contribute to about one-third of the food required to feed the world, with a value in excess of <a href="https://zenodo.org/record/2616458">US$200 billion per year</a>, and they are threatened by climate change and other environmental factors. <h2>Bees on coins, today and tomorrow</h2> Public awareness of bees and environmental sustainability may well be factors in the current interest in bee coins. The diversity of countries using bees as a design feature over the entire history of coins suggests people have valued the relationship with bees as essential to our own prosperity for a long time. In Australia, the 2022 honeybee $2 coin is part of a series developed by the <a href="https://www.ramint.gov.au/about-mint">Royal Australian Mint</a>. In 2019, the Perth Mint in Western Australia also released coins and stamps celebrating native bees. <figure class="align-center "><img src="https://images.theconversation.com/files/536405/original/file-20230709-15-iditcb.jpg?ixlib=rb-1.1.0&q=45&auto=format&w=754&fit=clip" sizes="(min-width: 1466px) 754px, (max-width: 599px) 100vw, (min-width: 600px) 600px, 237px" srcset="https://images.theconversation.com/files/536405/original/file-20230709-15-iditcb.jpg?ixlib=rb-1.1.0&q=45&auto=format&w=600&h=373&fit=crop&dpr=1 600w, https://images.theconversation.com/files/536405/original/file-20230709-15-iditcb.jpg?ixlib=rb-1.1.0&q=30&auto=format&w=600&h=373&fit=crop&dpr=2 1200w, https://images.theconversation.com/files/536405/original/file-20230709-15-iditcb.jpg?ixlib=rb-1.1.0&q=15&auto=format&w=600&h=373&fit=crop&dpr=3 1800w, https://images.theconversation.com/files/536405/original/file-20230709-15-iditcb.jpg?ixlib=rb-1.1.0&q=45&auto=format&w=754&h=469&fit=crop&dpr=1 754w, https://images.theconversation.com/files/536405/original/file-20230709-15-iditcb.jpg?ixlib=rb-1.1.0&q=30&auto=format&w=754&h=469&fit=crop&dpr=2 1508w, https://images.theconversation.com/files/536405/original/file-20230709-15-iditcb.jpg?ixlib=rb-1.1.0&q=15&auto=format&w=754&h=469&fit=crop&dpr=3 2262w" alt="" /><figcaption>Australian native bee coin and stamps released in 2019 by the Perth Mint.</figcaption></figure> Despite the decline of cash, bee coins still appear to be going strong. The buzzing companions of human society are likely to be an important subject for coin design for as long as coins continue to be used.<img style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important;" src="https://counter.theconversation.com/content/208912/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" /> <a href="https://theconversation.com/profiles/adrian-dyer-387798">Adrian Dyer</a>, Associate Professor, <a href="https://theconversation.com/institutions/monash-university-1065">Monash University</a> Image credits: Australian Royal Mint / NZ Post Collectables This article is republished from <a href="https://theconversation.com">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/bees-have-appeared-on-coins-for-millennia-hinting-at-an-age-old-link-between-sweetness-and-value-208912">original article</a>.

Money & Banking

Antiques Roadshow guest floored by value of father’s gift

For most people, finding out that their old items are worth a few hundred dollars is a treat enough, and maybe a few thousand if the antique is particularly special. But for one woman in the United Kingdom and her treasured brooches, that would have been small change. It was Antiques Roadshow’s expert Geoffrey Munn who broke the news after inspecting her pieces in Wales, assigning an impressive value to the 18th century collection. As the guest - and owner - explained, the two diamond brooches from her set had been gifted to her by her father. “[The smaller bow] on my wedding day. [The floral brooch] came a little bit later,” she said, “and [the ruby bow] was inherited from my grandmother.” She went on to share that her father had actually been involved in the antiques world, and so it was “something that I’ve grown up with.” <img src="https://oversixtydev.blob.core.windows.net/media/2023/05/AntiquesRoadshow_EMBED.jpg" alt="" width="1280" height="720" /> Upon inspecting the items, Munn noted that they were in “perfect condition”, and that they seemed to be “18th century jewels of the finest pitch”. When it came to the smaller bow, he remarked that it was more than it appeared, being “a true lovers knot, because the harder it is pulled, the tighter it becomes. “And the diamonds are forever, so this little subliminal message for your wedding was perfectly well chosen.” According to Munn, the same could be said of the ruby bow, but that things were “more complicated” when it came to the floral brooch. After sharing that it was most likely a sort of dress ornament, he noted that “there may have been 20 or 30 of them, and they might have gone down the back of a woman of very high rank and huge wealth. “[In the 18th century], people didn’t simply recognise the sovereign because there was no photography and precious few portraits. So, when [they] entered the room, there had to be an enormous display of sumptuary.” He then theorised that the floral brooch could possibly have belonged to Russian royalty, and that he wanted to believe that was the case. “The Russian crown jewels were sold in London after the revolution to raise funds for the new regime,” he continued. “It’s just possible that this is a Russian crown jewel. Wouldn’t [that] be marvellous?” Munn dubbed the entire collection “marvellous things”, declaring that “they’re not showy. They’re utterly beautiful expressions of an era gone by and that’s what we’re looking for”, as well as announcing that the trio came in at a staggering value of approximately $62,000. The smaller bow came in at around $15,000, while the ruby brooch was valued at $18,800, and the ruby at $28,300. And while selling the set would have given the guest’s bank balance quite the boost, she had no intentions of parting with them any time soon. Instead, she intended for her daughters to inherit them. She enjoyed wearing the pieces, she said, but unfortunately, the bigger of the brooches were getting “difficult to wear nowadays … perhaps [they are] a bit more dated.” Images: Antiques Roadshow / BBC

Money & Banking

Backlash to new kids clothing line sees Target lose billions

Target has lost billions in market valuation as its Pride-themed kids line continues to face backlash. Target shares were trading at $160.96 (A$246.18) a share, which means their market valuation was roughly around $74.3 billion (A$113 billion) The Minneapolis-based retailer’s stock value dropped drastically following the calls to boycott their “PRIDE” collection, at just $138.93 (A$212) a share as of Friday, which is a 14 per cent drop in value to around $64.2 billion (A$98 billion) , according to The New York Times. This roughly translates to a $10.1 billion (A$15 billion) loss in valuation. The plummet is the retailer's lowest stock price in nearly three years, and the last time any company’s stock plummeted this intensely was in 2022 after the stocks equalised during the pandemic. Target has since moved its Pride section away from the front of the store in some Southern states, following displays being knocked over by protesters, who also confronted the workers. They also said they would remove items from the collection but didn’t specify which ones. Some of the clothes receiving backlash were the rainbow-themed children’s clothing, and a “tuck-friendly” swimsuit for trans women, who have not yet had their gender-affirming surgeries, to conceal their genitalia. Target CEO Brian Cornell has defended the LBGTQ-friendly clothing line and has said that selling them was “the right thing for society.” Images: Getty

Money & Banking

The rich are pouring millions into life extension research – but does it have any ethical value?

Sam Altman, the chief executive of OpenAI, <a href="https://www.technologyreview.com/2023/03/08/1069523/sam-altman-investment-180-million-retro-biosciences-longevity-death/">recently invested</a> US$180 million into Retro Biosciences – a company seeking to extend human lifespans by <a href="https://retro.bio/announcement/">ten healthy years</a>. One way it plans to achieve this is by “rejuvenating” blood. This idea is based on studies that found old mice <a href="https://www.science.org/content/article/young-blood-renews-old-mice">showed signs of reversed ageing</a> when given the blood of young mice. Altman isn’t the only Silicon Valley entrepreneur supporting life extension efforts. PayPal cofounder Peter Thiel, Amazon founder Jeff Bezos and Google cofounder Larry Page have <a href="https://www.theguardian.com/science/2022/feb/17/if-they-could-turn-back-time-how-tech-billionaires-are-trying-to-reverse-the-ageing-process">poured millions</a> into projects that could profoundly affect how we live our lives. The first question raised is scientific: could these technologies work? On this front the jury is still out, and there are grounds for both <a href="https://newseu.cgtn.com/news/2021-01-14/How-close-are-we-to-radical-life-extension-and-is-it-a-good-idea--X03UFbnMWs/index.html">optimism</a> and scepticism. The second question is just as important: even if lifespan extension is feasible, would it be ethical? We explain why some common ethical arguments against lifespan extension aren’t as solid as they might seem – and put forth another, somewhat overlooked explanation for why trying to live forever might not be worth it. <h2>Is it worth it if you still die anyway?</h2> One might argue lifespan extension merely pushes back the inevitable: that we will die. However, the problem with this view is that any life saved will only be saved temporarily. A lifespan extension of ten years is akin to saving a drowning swimmer, only for them to die in a traffic accident ten years later. Although we might be sad about their eventual death, we’d still be glad we saved them. The same is true of conventional medicine. If a doctor cures my pneumonia, I will eventually die of something else, but that doesn’t mean the doctor or I will regret my being saved. It’s also worth taking a longer view of where lifespan extension research could lead us. In the <a href="https://www.ncbi.nlm.nih.gov/pmc/articles/PMC423155/">most optimistic scenarios</a> put forth by experts, even modest short-term gains could help people add centuries to their life, since the benefits of each intervention could cascade. For example, each extra year of life would increase the likelihood of surviving until the next big breakthrough. <h2>Is it worth it if immortality could get boring?</h2> <a href="https://www.sciencedirect.com/science/article/abs/pii/S0277953604004691">Many</a> <a href="https://www.sciencedirect.com/science/article/abs/pii/S0890406510000757">have argued</a> against lifespan extension on ethical grounds, saying they wouldn’t use these technologies. Why might somebody be opposed? One worry is that a very long life might be undesirable. Philosopher <a href="https://www.cambridge.org/core/books/abs/problems-of-the-self/makropulos-case-reflections-on-the-tedium-of-immortality/9180185912980E017EE675254B2F4169">Bernard Williams</a> said life is made valuable through the satisfaction of what he calls “categorical desires”: desires that give us reason to want to live. Williams expects these desires relate to major life projects, such as raising a child, or writing a novel. He worries that, given a long enough life, we will run out of such projects. If so, immortality would become tedious. It’s unclear whether Williams is right. <a href="https://www.tandfonline.com/doi/abs/10.1080/09672559.2012.713383">Some philosophers</a> point out human memories are fallible, and certain desires could resurface as we forget earlier experiences. <a href="https://link.springer.com/article/10.1007/s10892-015-9203-8">Others</a> emphasise that our categorical desires evolve as our life experiences reshape our interests – and might continue to do so over the course of a very long life. In either case, our categorical desires, and hence our reason for living, would not be exhausted over a very long life. Even if immortality did get tedious, this wouldn’t count against modest lifespan extensions. Many would argue 80-something years isn’t enough time to explore one’s potential. Personally, we’d welcome another 20 or even 50 years to write a novel, or start a career as a DJ. <h2>Is it worth it if poor people miss out?</h2> Another worry regarding lifespan extension technologies is egalitarian. These technologies will be expensive; it seems unjust for Silicon Valley billionaires to celebrate their 150th birthdays while the rest of us mostly die in our 70s and 80s. This objection seems convincing. Most people welcome interventions that promote health equality, which is reflected in broader societal demands for universal healthcare. But there’s important nuance to consider here. Consider that universal healthcare systems promote equality by improving the situation of those who aren’t well off. On the other hand, preventing the development of lifespan extension technologies will worsen the situation of those who are well off. The ethical desirability of equality based on “<a href="https://onlinelibrary.wiley.com/doi/abs/10.1111/1467-9329.00041">levelling down</a>” is unclear. The poorest Australians are <a href="https://theconversation.com/the-poorest-australians-are-twice-as-likely-to-die-before-age-75-as-the-richest-and-the-gap-is-widening-139201">twice as likely</a> to die before age 75 than the richest. Yet few people would argue we should stop developing technologies to improve the health of those aged over 75. Moreover, the price of lifespan extension technologies would eventually likely come down. <h2>The real problem</h2> However, we think there’s one serious ethical objection that applies to extreme cases of life extension. If humans routinely lived very long lives, this could reduce how adaptable our populations are, and lead to social stagnation. Even modest increases in life expectancy would radically increase population size. To avoid overpopulation, we’d need to <a href="https://theconversation.com/thinking-of-having-a-baby-as-the-planet-collapses-first-ask-yourself-5-big-ethical-questions-196388">reduce birth rates</a>, which would drastically slow generational turnover. As one of us (Chris) has explored in previous <a href="https://academic.oup.com/jmp/article/40/6/696/2747126">research</a>, this could be incredibly harmful to societal progress, because it may: <ol> <li>increase our vulnerability to extinction threats</li> <li>jeopardise individual wellbeing, and</li> <li>impede moral advancement.</li> </ol> Many fields benefit from a regular influx of young minds coming in and building on the work of predecessors. Even if the brains of older scientists remained sharp, their “confirmation bias” – a tendency to seek and interpret information in ways that confirm one’s prior beliefs – could slow the uptake of new scientific theories. Moral beliefs are also prone to <a href="https://link.springer.com/article/10.1007/s10670-020-00252-1">confirmation bias</a>. In a world of extended lifespans, individuals whose moral views were set in their youth (perhaps more than 100 years ago) will remain in positions of power. It seems likely our society’s moral code is <a href="https://link.springer.com/article/10.1007/s10677-015-9567-7">badly mistaken</a> in at least some respects. After all, we think past societies were catastrophically mistaken in theirs, such as when they endorsed slavery, or rendered homosexuality illegal. Slowing generational turnover could delay the point at which we recognise and fix our own moral catastrophes, especially those we can’t yet see. Image credits: Getty Images This article originally appeared on <a href="https://theconversation.com/the-rich-are-pouring-millions-into-life-extension-research-but-does-it-have-any-ethical-value-201774" target="_blank" rel="noopener">The Conversation</a>.

Caring

3 home improvement hacks to add value to your home

As people all around the world feel the weight of the intensifying cost of living crisis, a new warning has come: the property market is in for a rough ride. Some anticipate that house prices may drop, which serves as bad news for anyone hoping to sell their house. But all hope is not lost, with experts chiming in to share their tips on adding some value back into your house, without breaking the bank in the process. As Matthew Shaw - head of sales at the UK’s Ultra LEDs - put it, “before you start thinking about putting your home up for sale, it’s worth having a look around and making some alterations to give you a better chance of selling for a great price.” And Ultra LEDs’ technical engineer Tom Cain had a few tips in mind to help guide hopeful homeowners as they set out on their improvement journey. <ol> <li dir="ltr" aria-level="1"> Redecorating </li> </ol> It might sound simple, but adding just a fresh coat of paint to a room can make all the difference. Neutral colours are best, as those viewing the property will be forced to consider the potential there - or as some would say, “a blank canvas”. Additionally, one can’t go amiss with a few feature items, to draw the eye to areas of note while making the room feel new and fresh - pot plants, throw pillows, and trinket dishes can act as a fabulous centrepiece. <ol start="2"> <li dir="ltr" aria-level="1"> Garden gurus </li> </ol> Gardens can serve as a place to rest, to play, to plant, and to admire. They’re often the thing people remember most about the homes they’re viewing - right after the kitchen - so it’s important to have the space in tiptop shape. “It should feel like an extension of the home rather than just a large piece of grass or concrete,” Tom said. “It’s essential, and doesn’t cost much at all, to clear out any clutter or rubbish, trim borders, mow the grass if you have any, and cut back any overgrown trees or bushes - particularly if they block any sunlight).” <ol start="3"> <li dir="ltr" aria-level="1"> Declutter </li> </ol> Not only will this help viewers to see the potential in your property, it’ll provide a fantastic clean-up opportunity in the meantime. Buyers want to be able to visualise themselves living there, as Tom put it. Areas that see a lot of traffic - the likes of living rooms and kitchens - should be kept clean and tidy, as potential buyers can be discouraged at the sight of piles of stuff lying around. Tom suggested also considering the layout and furniture in a space, as “it’s surprising how this can impact the size and feel of a room.” Images: Shutterstock

Home Hints & Tips

How to increase the value of your home in one weekend

Increasing the value of your property pre-sale doesn’t have to require a team of professionals. Just one weekend dedicated to cleaning, refreshing, tidying and upgrading can put you in great stead for sales success. We asked the experts to reveal the best value-adding DIY projects to suit a short time frame and shoestring budget. 1. Refresh an old paint job There is no easier way to boost a property’s value than a new paint job, which can range from a one-room refresh, to an extensive repaint of the entire home. For homeowners low on budget and time, focus on painting the main living areas with Dulux’s Wash&Wear to disguise mismatched old paint, cracks and imperfections. “It’s great for interiors, especially in the matt finish. Even if the colours don’t entirely match, you can get away with it,” says Andrea Lucena-Orr, colour planning and communications manager at Dulux Australia. In terms of colour, white remains popular for appealing to a broad base of buyers. If painting an older property, opt for warmer whites such as Dulux Natural White or Antique White U.S.A ® Contemporary homes are more suited to cooler whites, with a grey or beige base, such as Dulux Lexicon ® or White on White. 2. Create a feature wall Painting a feature wall can be a valuable method for creating a point of difference on a minimal timeframe. This might be a dark single shade in the main bedroom or a bold dual-colour wall. “Feature walls, nooks and colour-blocking with tape are all ways to add interest,” says Lucena-Orr. When selecting colours for a feature wall, look for shades that will complement the room’s existing furniture and décor items. “Try using colours to highlight an artwork, a piece of furniture, or tie into the bed linen,” Lucena-Orr says. 3. Tidy the exterior If there is one area of the home you should focus on before a sale, it’s the exterior. While some homes will benefit from an entire façade repaint, updating this area can be achieved in a few quick jobs. Start by removing any cobwebs, cleaning the walls and filling in visible cracks. For added aesthetic appeal, paint some pots and place them near the front door, or spray paint a bench seat for the front porch. Painting the front door a colour such as cobalt or teal blue is another powerful tool for creating colour memories and attracting interest. “A teal door will help buyers remember the house. Even if buyers don’t like it, it’s quick and easy for them to change,” Lucena-Orr says. 4. Install storage shelves Installing open shelves in the kitchen, bathroom, laundry and study is a simple way to integrate more storage into a property, which never goes unappreciated. “Installing hooks, rails or racks to your doors will spruce things up without being too dramatic or involve any structural changes,” says Bunnings category manager – decorator, Sharyn Petrzela. “Pull-out baskets and base-mount slide-out baskets are also a great way to add storage and can be installed in a day.” 5. Outsource odd jobs Selling a home is stressful and time consuming. If budget allows, don’t be afraid to outsource tasks where you can. Websites such as Airtasker make it affordable to hire individuals for even the smallest household jobs, from removing weeds, to assembling furniture, collecting hard rubbish and hanging pictures. You might just want someone to focus on cleaning those detailed areas of the home such as the skirting boards, architraves, light fittings and door handles. 6. Add the finishing touches If you can’t afford a professional property stylist to decorate your home pre-sale, try these expert tips. “As a stylist, I think having decorative items (vases, candle holders and similar) that have a colour theme and style that is carried through the house gives a sense of flow that makes a house feel like a whole, instead of a series of different rooms,” says Sophie Kost, director and lead designer of My Beautiful Abode. Even small updates like replacing the feather inserts in your couch cushions can have a big impact on the feeling of a home. Remember to declutter surfaces and remove personal possessions in this process, as this allows buyers to better imagine themselves in the space. Image credits: Getty Images

Home Hints & Tips

Pink reveals how she teaches her daughter the value of hard work

Pop sensation Pink is teaching her daughter an important lesson on the value of hard work. The singer, who is preparing for her new tour, has revealed her daughter, Willow, 11, is going to work alongside her. Pink spoke on the US morning show Today, saying, "Willow has a job on tour,” adding, “We just had to go over minimum wage and it’s different state to state.” She went on to reveal a cheeky exchange she and her daughter had. “I said it’s about $US22.50 ($A32.80) a show depending how long I go, if I run over. She goes, ‘I’ll take $US20 ($A29.20). It’s easier to do the math.’ I’m like ‘That’s not how you negotiate for yourself.’ I’m like, ‘You’ll take $US25 ($36.47), so it’s easier math.’” Although Pink has an estimated net worth of $200 million USD ($291 million AUD), she believes the value of hard work and knowing your worth should be a priority. Pink is also mum to Jameson, 6, with her husband, Carey Hart, and she teased that her son’s negotiating skills were not quite up to scratch either. “Jameson’s just like, ‘I want a lollipop!’” she joked. The pop sensation’s tour kicks off on June 7 in the UK, starting with her first US show in Cincinnati, Ohio, on July 26. Her 11-year-old will be working alongside her mum for the entire tour and is bound to learn many more important life lessons along the way. Image credit: Getty

Family & Pets

Eco-activist attacks on museum artwork ask us to figure out what we value

In the last few weeks <a href="https://www.nytimes.com/2022/10/23/arts/claude-monet-mashed-potatoes-climate-activists.html">climate change activists have perpetrated various acts</a> of reversible vandalism <a href="https://twitter.com/artnews/status/1585745905512169473">against famous works of art in public galleries</a>. In the latest incident on Oct. 27, two men entered <a href="https://www.theguardian.com/environment/2022/oct/27/girl-with-a-pearl-earring-vermeer-just-stop-oil-protest-mauritshuis-the-hague">the Mauritshuis gallery in the Hague</a>. After taking off their jackets to reveal t-shirts printed with anti-oil slogans, one proceeded to glue his head to <a href="https://www.reuters.com/business/environment/famed-girl-with-pearl-earring-painting-targeted-by-climate-activists-nos-2022-10-27/">glass overtop</a> <a href="https://www.mauritshuis.nl/en/our-collection/artworks/670-girl-with-a-pearl-earring/">Johannes Vermeer’s Girl with a Pearl Earring</a>, while the other bathed the head of his partner-in-crime with what appeared to be tinned tomatoes before gluing his own hand to the wall adjacent to the painting. This was just the latest in a series of similar art attacks that have peppered the news. The motivation of the eco-activists involved is to draw attention to the crisis of climate change, the role of big oil in hastening the deterioration of the environment and the necessity to save our planet. By attacking a famous and high-value cultural target like Vermeer’s Girl with a Pearl Earring — it <a href="https://www.imdb.com/title/tt0335119/">even starred in its own movie</a> — the protesters are asking us to examine our values. <h2>Big oil protests</h2> The first Vermeer painting to come to auction for almost 80 years <a href="https://www.cbc.ca/news/world/vermeer-fetches-record-price-1.506190">sold for almost $40 million in 2004</a>. Today a Vermeer (<a href="http://www.essentialvermeer.com/how_many_vermeers.html">there are not that many)</a> could easily be valued at twice that. Whether you like Vermeer or not, the monetary value of the targets under attack enhances the sheer audacity and shock value of the current art attacks. The eco-activists want to appear to desecrate something that people associate with value and with culture. Their point is that if we don’t have a planet, we’ll lose all the things in it that we seem to value more. As activist Phoebe Plummer of Just Stop Oil <a href="https://www.artnews.com/art-news/news/just-stop-oil-protestor-van-gogh-sunflowers-why-video-1234643678">told NPR after being involved in the attack on Van Gogh’s Sunflowers at London’s National Gallery</a>: “Since October, we have been engaging in disruptive acts all around London because right now what is missing to make this change is political will. So our action in particular <a href="https://www.npr.org/2022/11/01/1133041550/the-activist-who-threw-soup-on-a-van-gogh-explains-why-they-did-it">was a media-grabbing action to get people talking, not just about what we did, but why we did it</a>.” Note, the idea is disruption, not destruction. As acts designed for shock value, the activists did draw immediate public attention. <h2>Attacking art</h2> By staging their attacks in public galleries, where the majority of visitors carry cell phones, activists could be assured film and photos of the incidents would draw immediate attention. By sticking to non-corrosive substances and mitigating damage to the works under attack, they don’t draw the kind of public ire that wilful destruction would evoke. In recent news, attacking art as a form of public protest has largely been limited to public monuments outside the gallery space, like the <a href="https://www.cnn.com/2022/02/02/us/confederate-monuments-removed-2021-whose-heritage/index.html">destruction and removal of Confederate</a> or colonial statues. But it’s also true that works of museum art have come under attack before. Over the course of its history, <a href="https://www.theartnewspaper.com/2019/02/19/trimmed-splashed-and-slashed-the-anatomy-of-rembrandts-the-night-watch">Rembrandt’s Night Watch in the Rijksmuseum</a> in Amsterdam was stabbed in two separate incidents in 1911 and 1975; in 1990, it was sprayed with acid; but all of those attacks were ascribed to individuals with unclear and less clearly rational motives. I see a few issues at stake with assessing what these recent art attacks could mean. <h2>1. How effective is the messaging?</h2> The activists have been articulate about their objectives, but those objectives haven’t been <a href="https://twitter.com/BrydonRobert/status/1587587106997960705">obvious to everyone who sees</a> via social media, but doesn’t stick around to hear the explanation. When a broad <a href="https://www.smithsonianmag.com/smart-news/why-are-climate-activists-throwing-food-at-million-dollar-paintings-180981024/">range of media</a> <a href="https://time.com/6224760/climate-activists-throw-food-at-art/">outlets all</a> perceive <a href="https://www.forbes.com/sites/rebeccahughes/2022/08/05/why-are-climate-activists-gluing-themselves-to-art-in-italy/?sh=1e2e8a6a246a">the need to publish</a> editorials on why eco activists are targeting art, something is getting lost in translation. People see the endangerment of the works of art, but may ascribe that to the activists, not to the planetary erosion wrought by climate change. I don’t think everyone is getting the message. <h2>2. Possible misplaced outrage</h2> The incidents up until now have been pretty effective and harmless acts. But what if something is irreparably damaged? People will be outraged, but they’ll still be outraged about the art, not about the planet. And while there will be a call for stiff prison sentences, precedent suggests that’s an unlikely outcome. A man who damaged a Picasso valued at $26 million USD at the Tate Modern <a href="https://www.artnews.com/art-news/news/tate-modern-picasso-damaged-man-sentenced-1234569349">in London in 2020 was sentenced to 18 months in jail</a>. <h2>3. Violation of public trust</h2> The third effect is what I consider a violation of the public trust, and this gives me pause. Works of art, even the most famous ones, lead precarious lives of constant endangerment; war, weather, fire, floods. The protesters are destabilizing the idea that public galleries are “safe” spaces for works of art, held in public trust. As fari nzinga, inaugural curator of academic engagement and special projects at the <a href="https://www.speedmuseum.org/">Speed Art Museum</a> in Louisville, KY, pointed out in a 2016 paper: “The museum doesn’t serve the public trust simply by displaying art for its members, <a href="https://incluseum.com/2016/11/29/public-trust-and-art-museums">it does so by keeping and caring for the art on behalf of a greater community of members and non¬members alike</a>, preserving it for future generations to study and enjoy.” Right now these acts, no matter how well-intentioned, could lead to increased security and more limited access, making galleries prisons for art rather than places for people. At the same time, part of the activsts’ point is that economy that sustains <a href="https://grist.org/climate/can-art-museums-survive-without-oil-money/">big oil is entwined with arts infrastructure</a> and the art market. <h2>The thing that saves us?</h2> The pandemic taught us, I think, that art could be the thing we share that saves us; think of <a href="https://www.youtube.com/watch?v=Q734VN0N7hw">people during quarantine in Italy singing opera together from their balconies</a>. Eco-activists engaged in performance protests ask us to question our public institutions and make us accountable for what they, and we, value. Their climate activism is dedicated to our shared fate. If you’re willing to fight for the protection of art, maybe you’re willing to fight to protect the planet. Image credits: Getty Images This article originally appeared on <a href="https://theconversation.com/eco-activist-attacks-on-museum-artwork-ask-us-to-figure-out-what-we-value-193575" target="_blank" rel="noopener">The Conversation</a>.

Art

When’s the best time to use frequent flyer miles to book flights? Two economists crunched the numbers on maximizing their dollar value

Traveling during major holidays like Thanksgiving can be expensive, since so many people want to see their friends and families, wherever they might be. It’s especially hard this year with <a href="https://fred.stlouisfed.org/series/CPIAUCSL">inflation soaring</a> at the fastest pace since the early 1980s. Airline fares <a href="https://fred.stlouisfed.org/series/CUSR0000SETG01#0">were up 43% in October</a> from a year earlier – only a <a href="https://www.bls.gov/news.release/cpi.t02.htm">handful of categories increased by more</a>. One way to ease the blow to your wallet or purse is by using frequent flyer miles. While there’s <a href="https://doi.org/10.1145/2733384">quite a bit</a> of research on when is the <a href="https://conservancy.umn.edu/handle/11299/215872">best time to use cash</a> to buy flights, <a href="https://www.bu.edu/questrom/profile/huseyin-karaca/">we wondered</a> – as travel lovers – if there’s an optimal time to use miles. So with the help of <a href="https://drive.google.com/file/d/1HikpvLqt_M8OfXrCXta4rm76Z_JreLJt/view">our research assistant</a>, we investigated this question, with a focus on flights over the Thanksgiving holiday. <h2>Americans return to the skies</h2> The day before Thanksgiving is one of the busiest days to travel in the U.S. Before the COVID-19 pandemic upended travel, the Transportation Security Administration <a href="https://www.tsa.gov/coronavirus/passenger-throughput">screened 2.6 million people</a> on Thanksgiving eve of 2019, just shy of the 2.9 million record. While the number plunged in 2020 as demand dropped, it picked up to 2.3 million last year and <a href="https://www.wsj.com/articles/this-thanksgiving-is-expected-to-be-one-of-the-busiest-for-travel-in-decades-11668532148">is expected to return</a> to pre-COVID-19 levels this year. The surge in demand, along with significantly higher jet fuel costs, are key factors in leading to more expensive air fares. To offset these higher costs, <a href="https://newsroom.wf.com/English/news-releases/news-release-details/2022/New-Study-Americans-Lean-Into-Credit-Card-Rewards-to-Offset-Rising-Costs--Including-Travel/default.aspx">many consumers</a> may turn to frequent flyer miles – whether accumulated from other travel or from credit cards – to avoid forking over so much cash. <h2>Frequent flying 101</h2> <a href="https://doi.org/10.1080/10253866.2015.1096095">Frequent flyer mile programs started</a> in the late 1970s after the <a href="https://www.faa.gov/about/history/brief_history">federal government stopped regulating</a> airfares. Before the change, fares, routes and schedules for all domestic flights were set by the federal Civil Aeronautics Board. Besides slashing fares, <a href="https://abcnews.go.com/Travel/airline-frequent-flyer-miles-30-years/story?id=13616082">airlines reacted by creating frequent flyer programs</a>. Texas International Airlines, which ultimately merged with United, and Western Airlines, which later joined Delta, were among the first to institute frequent flyer programs. In a particular airline’s frequent flyer program, you earn miles when you fly with that airline. Many people get miles by using their credit cards as well. These accumulated miles can then be redeemed for free air travel. Frequent flyer programs were designed to <a href="https://doi.org/10.1108/02634509810199535">build customer loyalty</a>, as they provide a rebate to regular passengers. They are also <a href="https://hbr.org/1995/05/do-rewards-really-create-loyalty">meant to lock travelers</a> into a particular airline – since they have a strong incentive to only fly with that carrier. One downside is that many business flyers go out of their way to use their preferred airline, <a href="https://www.informs.org/About-INFORMS/News-Room/Press-Releases/Study-Finds-that-Frequent-Flyer-Programs-Increase-Cost-of-Business-Travel">which boosts their company’s travel costs</a>. And although airlines use frequent flyer programs to increase customer goodwill, they frequently <a href="https://www.thrillist.com/news/nation/united-airlines-loyalty-program-status-update">change the rules and rewards</a>, which often <a href="https://www.inc.com/jason-aten/delta-just-announced-a-change-that-will-make-people-very-mad-its-actually-a-brilliant-move.html">frustrates customers</a>. <a href="https://doi.org/10.1145/2733384">Researchers have looked</a> at the <a href="https://conservancy.umn.edu/handle/11299/215872">optimal time to buy</a> airplane <a href="https://doi.org/10.1057/s41272-019-00193-7">tickets</a> with cash. In general, <a href="https://www.forbes.com/sites/suzannerowankelleher/2022/08/31/best-time-to-book-a-cheap-flight/?sh=23fdd1e72ebc">they have found prices</a> tend to dip anywhere from two months to three weeks before the travel dates. Prices are highest for those who want to book their flights very early, to lock it in, and last-minute travelers booking just before their departure dates. <h2>How frequent flyer miles compare</h2> To see when’s the best time to book with miles, we looked at <a href="https://www.oag.com/busiest-routes-right-now">one of the busiest routes in the U.S.</a> – New York (JFK) to Los Angeles (LAX). Each month, airlines have over a quarter of a million seats flying direct on that route. There are about 30 nonstop flights a day, run by <a href="https://www.aa.com/en-us/flights-from-new-york-to-los-angeles">three</a> <a href="https://www.delta.com/us/en/flight-deals/united-states-flights/flights-to-los-angeles">different</a> <a href="https://www.jetblue.com/destinations/los-angeles-california-flights">airlines</a>. Starting about three months before Thanksgiving, we collected weekly data from the online booking sites of these three airlines. We tracked the frequent flyer miles needed as well as the price for every coach flight scheduled to take place within one week of Thanksgiving. As miles are not interchangeable between airlines in general, we needed an alternative measure for more direct comparison between different airlines. So we calculated how much a frequent flyer mile is worth by dividing the number of frequent flyer miles needed by the ticket price. We then compared the dollar worth of 1,000 miles, depending on the airline, when the booking was made and the flight date. <a href="http://businessmacroeconomics.com/">Economic theory</a> tells us that when there is lots of competition and the product is almost identical, competition should result in all businesses charging roughly the same price. That wasn’t what we found. In mid-October, Delta was asking 69,000 miles to fly the Tuesday before Thanksgiving. American Airlines was only asking 33,000 miles for roughly the same flight. This means if you have a <a href="https://www.cnbc.com/select/best-travel-credit-cards/">general travel rewards credit card</a> that lets you use miles on different airlines, it pays to shop around. Just because an airline has a high price in miles doesn’t mean the price will not come down. At the start of November, Delta wanted 69,000 miles to fly at dinnertime on the Tuesday before Thanksgiving. A week later the airline cut the price to 53,000 miles. A week after that, it was down to 36,500 miles, a price drop of almost 50% in two weeks. While in general the earlier you book, the better, booking too early can cost you. We found the best time to spend your frequent flyer miles for Thanksgiving travel was to book during the first week of October, which was about eight weeks out. In early October, 1,000 frequent flyer miles were worth over $14 in airfare. The last week of October, about four weeks before Thanksgiving, those same miles were only worth shy of $12. <h2>The best day to fly</h2> As for what is the best day on which to travel to get the most from your miles, there are two answers. On the Monday before Thanksgiving, your miles are typically worth the most, on average $15 per 1,000 miles. This is in sharp contrast to $11 for the day before Thanksgiving. However, flying Thanksgiving Day itself had required the lowest average number of miles, about 27,000 miles. If you haven’t booked flights yet, you may be too late to find the best value in frequent flyer miles. However, while we are still gathering and analyzing data, these tips look like they will hold up for future holidays. Image credits: Getty Images This article originally appeared on <a href="https://theconversation.com/whens-the-best-time-to-use-frequent-flyer-miles-to-book-flights-two-economists-crunched-the-numbers-on-maximizing-their-dollar-value-194893" target="_blank" rel="noopener">The Conversation</a>.

Travel Tips

The value of a banana: understanding absurd and ephemeral artwork

In September 2020, the Guggenheim Museum in New York acquired <a href="https://news.artnet.com/art-world/guggenheim-banana-cattelan-1909179">Maurizio Cattelan’s Comedian</a> by anonymous donation. The work – a banana duct-taped to a wall — was first shown and sold at the <a href="https://www.theartnewspaper.com/news/this-art-is-bananas-maurizio-cattelan-presents-first-new-work-for-an-art-fair-in-15-years#:%7E:text=The%20maverick%20Italian%20artist%20Maurizio,wall%20with%20grey%20duct%20tape.">Art Basel fair in Miami Beach</a> in the autumn of 2019 where it generated attention, derision and <a href="https://wwd.com/fashion-news/fashion-scoops/art-basel-2019-art-banana-memes-1203395572/">innumerable memes</a>. Social media was, for a brief time, overflowing with images of <a href="https://www.news18.com/news/buzz/people-are-coming-up-their-own-duct-tape-art-after-banana-in-art-basel-sells-for-rs-85-lakh-2416655.html">just about anything duct-taped to walls</a>: tamales, beer cans, cabbage, a <a href="https://knowyourmeme.com/photos/1668205-duct-tape-banana">durian</a> fruit, a sandal, someone’s cat. <a href="https://adage.com/article/digital/brands-are-trying-one-art-basel-banana/2221661">Companies quickly countered with online ads</a> where their products, from deodorants to French fries, were shown duct-taped to the wall with a modest price tag. Comedian reignited a set of questions that seem to flare up with some regularity: what makes something a high-priced artwork when another, seemingly identical, object is not? Since the work was shown at an art fair, it is relevant to consider what exactly is being bought when acquiring an artwork like Comedian. The original banana had to be replaced several times during the course of the fair, once after it was eaten as <a href="https://www.bbc.com/news/world-us-canada-50704136">a stunt by another artist</a>. The collectors who bought and subsequently donated the work to the Guggenheim did not receive an actual banana or a piece of duct tape. Instead, what they got was a document, a so-called certificate of authenticity that granted them the right to recreate the work and instructions of how to do so. <a href="https://www.nytimes.com/2020/09/18/arts/design/banana-art-guggenheim.html">It stipulated</a>, among other things, that the banana should be hung 175cm above ground and that it should be replaced every seven to ten days. <h2>A banana is a banana is a banana</h2> Although the art world has accepted the idea of <a href="https://www.tate.org.uk/art/art-terms/r/readymade">ready-made</a> everyday objects as art, at least since the mid-20th century, Cattelan’s artwork invited a collective focus on the structure of evaluation of artworks. If anyone can tape anything to the wall — as many did — what is the point of a document granting the legal right to do the same? Let’s compare Comedian to another fruit-based artwork: Zoe Leonard’s <a href="https://www.philamuseum.org/collections/permanent/92277.html">Strange Fruit</a> (1992-1997), a large installation of fruit peels, carefully stitched together by the artist. It was made during the Aids crisis and functioned as a ritualised act of mourning and memorialising. After closely working with a conservator who developed a method of halting material decay at a particular point, <a href="http://contemporary.burlington.org.uk/journal/journal/intent-in-the-making-the-life-of-zoe-leonards-strange-fruit">Leonard decided</a> that it was more in line with the work’s idea to have it turn slowly into dust. In contrast to Comedian, replacing the fruit peels was not an option since the specific acts of stitching as mourning was key to the work’s meaning. The material manifestation of Leonard’s organic objects is far from stable – time passes and they change – but it is crucial that it is these precise pieces of fruit that undergo that transformation. Conceptual artists in the 1960s argued that an artwork’s identity is not to be found in its physical manifestation but in the artist’s idea. That idea can, but does not have to, take material form. Following that logic, the material object is a manifestation of an idea, and it is the idea that is bought and sold on the art market. When the object is reproducible or immaterial, the certificate of authenticity ensures the artwork’s identity as an artwork. Comedian is not dependent on a specific banana, any banana could be used without altering the meaning of the work. That, however, is very different from saying that any banana and piece of duct tape is an artwork by Maurizio Cattelan. <h2>Poking fun at the market</h2> Even though the <a href="https://www.theguardian.com/artanddesign/2019/dec/06/maurizio-cattelan-banana-duct-tape-comedian-art-basel-miami">US$120,000 (£92,000) price tag for Comedian</a> was by contemporary art standards fairly moderate, it is obviously a huge mark-up for the act of combining two very cheap and readily available materials. The work’s title hints that it is aware of the comedic absurdity of its own evaluation on the art market. Also, the banana’s upward curve on the wall recalls a stylised smiling face, and the banana peel, as we know, is involved in the most basic of slapstick skits. Comedian was in fact not the first time Cattelan poked fun at the market, art dealers and their place within this system. In 1995, he made his dealer Emmanuel Perrotin (in whose booth at Art Basel Comedian was shown) <a href="https://www.frieze.com/article/maurizio-cattelan">dress up as a giant pink penis-shaped bunny</a> for the duration of his exhibition at Perrotin’s Paris gallery. The piece was called “Errotin le vrai lapin (Errotin the true rabbit). By making Perrotin wear a ridiculous and humiliating phallic costume while carrying out his day-to-day work as a commercial gallery owner, the spectacle of the art market came into sharp view. Comedian is not the only of Cattelan’s works that has drawn attention to the Guggenheim in recent years. In 2016, the artist installed the work <a href="https://www.guggenheim.org/exhibition/maurizio-cattelan-america">America</a> in one of the lavatories of the museum. The 18-karat gold toilet is a tongue-in-cheek commentary on the excesses of America’s rich; a piece of satirical participatory art that welcomes people to actually use it. It has reverberations of <a href="https://www.tate.org.uk/art/artworks/duchamp-fountain-t07573">Marcel Duchamp</a> and <a href="https://whitney.org/media/760">Sherrie Levine</a>’s lavatorial works. It <a href="https://www.vanityfair.com/style/2018/01/the-art-museum-that-offered-donald-trump-a-solid-gold-toilet">could have been President Trump</a>’s after he requested to borrow a Van Gogh from the Guggenheim but was offered America instead – he declined. It then was taken in by Blenheim Palace in Oxford in 2019 where art critic Jonathan Jones <a href="https://www.theguardian.com/artanddesign/2019/sep/13/maurizio-cattelan-blenheim-palace-review-hitler-golden-toilet-blenheim-churchill">commented, "</a>How does it feel to urinate on gold? Much like peeing on porcelain. But here, among all the photos of young Winston, it also feels like pissing on British history." Soon after, <a href="https://www.nytimes.com/2019/11/20/arts/design/gold-toilet-america.html#:%7E:text=14%2C%20a%20fully%2Dfunctioning%20toilet,the%20birthplace%20of%20Winston%20Churchill.&text=The%20police%20may%20not%20know,palace%2C%20have%20plenty%20of%20theories.">it was stolen</a>. Its whereabouts remain unknown. Cattelan’s works — like other pieces — must be considered in relation to other artworks and the structures in which it operates. The questions they raise are relevant but in part unanswerable: are we to take Comedian seriously, or is it an elaborate joke? And if it is a joke, who is in on it and who, or what, is mocked? Image credits: Getty Images This article originally appeared on <a href="https://theconversation.com/the-value-of-a-banana-understanding-absurd-and-ephemeral-artwork-147689" target="_blank" rel="noopener">The Conversation</a>.

Art

Ultra-processed foods: it’s not just their low nutritional value that’s a concern

In countries such as the UK, US and Canada, ultra-processed foods now account for <a href="https://pubmed.ncbi.nlm.nih.gov/30744710/">50% or more</a> of calories consumed. This is concerning, given that these foods have been linked to a number of different health conditions, including a greater risk of <a href="https://pubmed.ncbi.nlm.nih.gov/33167080/">obesity</a> and various chronic diseases such as <a href="https://nutritionj.biomedcentral.com/articles/10.1186/s12937-020-00604-1">cardiovascular disease</a> and <a href="https://pubmed.ncbi.nlm.nih.gov/35896436/">dementia</a>. Ultra-processed foods are <a href="https://pubmed.ncbi.nlm.nih.gov/30744710/">concoctions of various industrial ingredients</a> (such as emulsifiers, thickeners and artificial flavours), amalgamated into food products by a series of manufacturing processes. Sugary drinks and many breakfast cereals are ultra-processed foods, as are more recent innovations, such as so-called <a href="https://www.sciencedirect.com/science/article/pii/S2213453019301144,">“plant-based” burgers</a>, which are typically made of protein isolates and other chemicals to make the products palatable. The intense industrial processes used to produced ultra-processed foods destroy the <a href="https://pubmed.ncbi.nlm.nih.gov/35067754/">natural structure</a> of the food ingredients and strip away many beneficial nutrients such as fibre, vitamins, minerals and phytochemicals. Many of us are well aware that ultra-processed foods are harmful for our health. But it’s been unclear if this is simply because these foods are of poor nutritional value. Now, two new studies have shown that poor nutrition may not be enough to explain their health risks. This suggests that other factors may be needed to fully explain their health risks. <h2>The role of inflammation</h2> The <a href="https://www.bmj.com/content/378/bmj-2022-070688">first study</a>, which looked at over 20,000 health Italian adults, found that participants who consumed the highest number of ultra-processed foods had an increased risk of dying prematurely from any cause. The <a href="https://www.bmj.com/content/378/bmj-2021-068921">second study</a>, which looked at over 50,000 US male health professionals, found high consumption of ultra-processed foods was associated with a greater risk of colon cancer. What’s most interesting about these studies is that the health risks from eating a diet high in ultra-processed foods remained even after they had accounted for the poor nutritional quality of their diets. This suggests that <a href="https://www.ncbi.nlm.nih.gov/pmc/articles/PMC8747015/">other factors</a> contribute to the harms caused by ultra-processed foods. It also implies that getting the right nutrients elsewhere in the diet may not be enough to cancel out the risk of disease from consuming ultra-processed foods. Similarly, attempts by the food industry to improve the nutritional value of ultra-processed foods by adding a few more vitamins may be side-stepping a more fundamental problem with these foods. So what factors may explain why ultra-processed foods are so harmful to our health? The Italian study found that inflammatory markers – such as a higher white blood cell count – were higher in groups that ate the most ultra-processed foods. Our bodies may trigger an inflammatory response for any number of reasons – for example, if we catch a cold or get cut. The body responds by sending signals to our immune cells (such as white blood cells) to attack any invading pathogens (such as bacteria or viruses). Usually, our inflammatory response resolves quite quickly, but some people may develop chronic inflammation throughout their body. This can cause tissue damage, and is involved in many chronic diseases – such as <a href="https://pubmed.ncbi.nlm.nih.gov/25859884/">cancer</a> and <a href="https://pubmed.ncbi.nlm.nih.gov/28744020/">cardiovascular disease</a>. Many studies have found that poor diets can increase inflammation in the body, and that this is linked to <a href="https://pubmed.ncbi.nlm.nih.gov/28744020/">higher risk</a> of chronic diseases. Given that signs of inflammation were seen in participants of the Italian study who ate the most ultra-processed foods, this could suggest that inflammation may contribute to why ultra-processed foods increase disease risk. Some food additives common in ultra-processed foods (such as emulsifiers and artificial sweeteners) also increase inflammation in the gut by causing <a href="https://pubmed.ncbi.nlm.nih.gov/29899036/">changes to the gut microbiome</a>. <figure class="align-center ">Some researchers have theorised that ultra-processed foods increase inflammation because they are recognised by the body as foreign – much like an invading bacteria. So the body mounts an inflammatory response, which has been dubbed “<a href="https://pubmed.ncbi.nlm.nih.gov/24939238/">fast food fever</a>”. This increases inflammation throughout the body as a result.</figure> Although the US colon cancer study did not establish if inflammation increased in the men consuming the most ultra-processed foods, inflammation is strongly linked with an <a href="https://pubmed.ncbi.nlm.nih.gov/27821485/">increased risk of colon cancer</a>. Research shows that other mechanisms – such as <a href="https://www.bmj.com/content/378/bmj-2022-070688">impaired kidney function</a> and <a href="https://pubmed.ncbi.nlm.nih.gov/19502515/">toxins in packaging</a> – may also explain why ultra-processed foods cause so many dangerous health problems. Since inflammatory responses are hard-wired in our bodies, the best way to prevent this from happening is by not eating ultra-processed foods at all. Some plant-based diets high in natural, unprocessed foods (such as the <a href="https://pubmed.ncbi.nlm.nih.gov/36039924/">Mediterranean diet</a>) have also been shown to be anti-inflammatory. This may also explain why plant-based diets free from ultra-processed foods can help ward off <a href="https://pubmed.ncbi.nlm.nih.gov/26148921/">chronic diseases</a>. It’s currently not known to what extent an anti-inflammatory diet can help counteract the effects of ultra-processed foods. Simply reducing your intake of ultra-processed foods may be a challenge. Ultra-processed foods are designed to be hyper-palatable – and together with persuasive marketing, this can make resisting them an enormous challenge for <a href="https://pubmed.ncbi.nlm.nih.gov/33153827/">some people</a>. These foods are also not labelled as such on food packaging. The best way to identify them is by looking at their ingredients. Typically, things such as emulsifiers, thickeners, protein isolates and other industrial-sounding products are a sign it’s an ultra-processed food. But making meals from scratch using natural foods is the best way to avoid the harms of ultra-processed foods.<img style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important;" src="https://counter.theconversation.com/content/189918/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" /> <a href="https://theconversation.com/profiles/richard-hoffman-221275">Richard Hoffman</a>, Associate lecturer, Nutritional Biochemistry, <a href="https://theconversation.com/institutions/university-of-hertfordshire-799">University of Hertfordshire</a> This article is republished from <a href="https://theconversation.com">The Conversation</a>. Read the <a href="https://theconversation.com/ultra-processed-foods-its-not-just-their-low-nutritional-value-thats-a-concern-189918">original article</a>.

Food & Wine

The tricky notion of ‘value’ in the arts

There’s plenty of discussion about arts funding in Australia – but are we ready to tackle tough questions around the “value” of the arts? That’s a challenge that will involve scrutinising the “benefits” delivered by arts programs and rethinking some of our ideas about impact. Recently these questions have been framed in terms of measurement – a phenomenon that has to do with an increased emphasis on what is termed the “<a href="https://theconversation.com/go-on-then-what-are-the-creative-industries-18958">creative</a>” or “cultural” industries. <h2>Welcome to the arts industry</h2> Governments and policy makers concerned with the allocation of scarce resources, and with the demise of traditional economic drivers for development, have turned to these sectors as areas of potential growth. The word “industry” nicely moves the whole area away from anything “non-productive”. This framing of the arts as an industry has fuelled the sometimes strident debate over funding models for the arts, particularly when a funding cut has taken place. Yet for better or worse, the arts and related cultural phenomena represent activities that now have value and benefits for government – so there will be policy delivered upon art producers regardless of the debate. The key issues for all is defining and measuring all the possible permutations of value. <h2>Intrinsic and instrumental benefits</h2> Some clarification is possible if we separate instrumental benefits from intrinsic benefits. Instrumental benefits are those that pertain to social, economic or policy outcomes. An outcome of a community-based theatre production might be to involve disadvantaged sectors of the community, thereby increasing social inclusion. Similarly, a sculpture trail might be established in an economically-depressed region, with the aim of increasing local employment. Such benefits are increasingly cited in the conversations surrounding the impact of the arts. The intrinsic benefits of the arts are less obvious. While not being ignored by arts organisations, and of interest to many artists, the “impact” of art on an individual, a community or on society is a nebulous concept. How did the art resonate with the viewer? Was the community intellectually stimulated? Did the art make a lasting impression? Did it increase social bonding? Much of the policy work done on measuring intrinsic impact is done in the performing arts. Theatre, opera and music companies have a particular interest in measuring intrinsic impact, as their revenue streams rely on a paying audience, and indeed one that returns for future performances. Intrinsic impact factors such as audience engagement and stimulation are part of the concept of “<a href="http://www.australiacouncil.gov.au/resources/reports_and_publications/subjects/arts_sector/artisticvibrancy">artistic vibrancy</a>” that the Australia Council uses as a criterion in its <a href="http://www.australiacouncil.gov.au/artisticreflectionkit">Artistic Reflection Kit</a> for arts organisations. <h2>Did the art make a difference?</h2> There is little to guide us in understanding such issues in a broader arts context. Certainly museums and galleries, as well as major events such as the <a href="http://www.biennaleofsydney.com.au/">Biennale of Sydney</a> undertake visitor surveys. But their findings are frequently framed in relation to audience development or marketing strategy. Engagement sometimes simply means: how many people went, and where were they from? While this sort of information is vital in a world where competition for the cultural tourist is fierce, it does not assist us in understanding the basic question of whether the art, in whatever form, made a “difference” to those that viewed it (however that may be defined) and how that might be considered a “value”. Of course, it can be argued such a question is irrelevant in an artistic sense. Many see any measurement of artistic value as further evidence of the commodification of art. Art producers frequently reject the materialistic concept of “product” being applied to their creative output, and clearly consumer demand is not generally the primary driving force behind art and other cultural-based production. <h2>Product-driven artists</h2> Even so, artists do need to be product-driven. If they are not they risk their artistic integrity, the very thing that challenges their audiences. This means that conventional techniques to “sell” artistic production do not necessarily work. For any exhibitor of challenging art this is a common problem. Do you keep churning out those room-filling blockbuster exhibitions – or curate something that your audience might potentially not actually like? Perhaps splitting value into instrumental benefits and intrinsic benefits is actually unhelpful because it artificially separates the individual/ community/ emotional from the policy/ economic. By this I mean that if a concert does not engage and resonate with visitors by having some intrinsic value, then any other subsequent instrumental benefit simply does not flow on. In other words, if the audience does not like the art, they will not “consume” it (buy, view, etc.). <h2>Art for individuals and communities</h2> For me, taking such an holistic view of artistic endeavours recognises that there is an interconnectedness between individual benefits and societal benefits that is indeed important. What benefits the individual may well benefit that individual’s community – and vice versa. Does this make impact any easier to measure? Or value any easier to define? Perhaps not immediately. But it does provide an alternative way of conceptualising value in the arts, one that may be used to reframe a debate that tends to be weighted toward measuring instrumental benefits. It’s not just that funding bodies find it easier to measure instrumental benefits, it’s that the intrinsic value of art is, by its very nature, difficult to measure. How do you measure intellectual stimulation? Emotional engagement? Joy? Sure, there is research conducted in these areas, but it is not finding its way into the debate over the value of the arts. And until it does the arts will continue to be valued more for its role as a driver of economic development than as a cure for the soul – or worse still, not valued at all. Image credits: Getty Images This article originally appeared on <a href="https://theconversation.com/the-tricky-notion-of-value-in-the-arts-20408" target="_blank" rel="noopener">The Conversation</a>.

Art

What adds value to your house? How to decide between renovating and selling

The government’s <a href="https://treasury.gov.au/coronavirus/homebuilder">HomeBuilder</a> scheme allows <a href="https://www.corelogic.com.au/news/homebuilder-renovations-where-are-most-owner-occupied-dwellings-below-15-million">certain</a> home owners to apply for a tax-free grant of A$25,000 if they are spending between $150,000 and $750,000 renovating a home or building a new home. Eligibility criteria are strict. The scheme has boosted renovation talk in some circles (although, as CoreLogic has <a href="https://www.corelogic.com.au/news/vacuum-effect-and-its-implications-homebuilder-scheme">pointed</a> out, it may merely bring forward works that were already planned). Here are some questions to ask yourself when trying to decide between renovating and moving – and how to add value to your existing home. <h2>What adds value to a house?</h2> Property market observers <a href="https://www.domain.com.au/advice/how-to-make-your-home-stand-out-when-selling-932031/">advise</a> updating or renewing bathrooms or kitchens – even small fixes such as replacing a cracked or dated splashback, replacing a bath or adding skylights can go a long way. Think about easy repairs that create an invaluable good first impression – a fixed-up fence, a new carpet or resurfaced flooring or even good old decluttering. But remember you’ll only qualify for HomeBuilder if you plan to spend at least $150,000 on an owner-occupied home worth no more than A$1.5 million (CoreLogic has <a href="https://www.corelogic.com.au/news/homebuilder-renovations-where-are-most-owner-occupied-dwellings-below-15-million">listed</a> which suburbs have the most owner-occupied properties under A$1.5 million). <h2>Factors to consider if you’re thinking of renovating</h2> How long till you retire? How secure is your employment? Thinking carefully about your earning potential between now and retirement will help you understand how what you can borrow and afford. If you are planning to stay, you will get the benefit and enjoyment of the renovations. Do you need to stay close to school or work? If that’s a consideration, renovating may be worth more to you than buying further out. Look closely at what your property is worth (there are plenty of online calculators) and keep track of how much similar local properties with one extra bedroom or bathroom sell for. That will give you a sense of the value-add to your home equity that a renovation might represent. Be honest with yourself about the total cost of renovation. There are myriad expenses not always initially apparent. These may include: <ul> <li>planning fees (the cost of getting a development assessed by council)</li> <li>the cost of architectural drawings</li> <li>consultants’ fees for environmental impact statements or arborists’ reports</li> <li>extra costs due to a heritage listing</li> <li>renting, if it’s not possible to live at home during renovation</li> <li>the cost of protecting underground public assets such as water or sewerage pipes</li> <li>extra costs caused by poor access or other limitations.</li> </ul> Consider the possible long-term savings of retrofitting your home to be more energy-efficient. Proper insulation, secondary glazing, draught excluders and solar PV energy are expensive upfront but will save on long term running costs. It’s likely, as energy costs increase, homes that are at least partially off grid will be more attractive and valuable over time. And remember that for some, even with help from HomeBuilder, renovation won’t stack up economically. Some older people may eschew home renovation to put money aside to help children get a foot on the property ladder. Others may decide potentially expensive renovation is worth it to hold onto a family home to which children return as they get older. It might sound sentimental but the idea of Christmas in the family homestead is worth it, for some. <h2>Tax considerations</h2> Find out what tax breaks, if any, you might be eligible for if you renovate to divide the family home into a smaller space (if you’re keen to downsize, or enhance the accessibility of your home, for example) and adding a self-contained granny flat. However, if the granny flat is leased out, this section of the home would be considered income-producing. Your “main residence” is generally <a href="https://www.ato.gov.au/General/Capital-gains-tax/Your-home-and-other-real-estate/Your-main-residence/">exempt</a> from capital gains tax when it comes time to sell, but you may not qualify entirely for this exemption if a section of the property is income-producing. You may also consider remodelling the family home into a duplex and, depending on council planning laws, convert the title into dual occupancy. However, these suggestions may complicate eligibility for the HomeBuilder grant (which seems to exclude property investors, although there’s no mention of partly converting the main place into a dual occupancy). The best option here is to seek advice from a tax specialist. <h2>Factors to consider if you’re thinking of selling up and buying elsewhere</h2> Use a <a href="https://www.realestate.com.au/home-loans/stamp-duty-calculator">stamp-duty calculator</a> and <a href="https://www.localagentfinder.com.au/selling-costs-calculator">cost-of-selling calculator</a> to get a rough idea of those costs. How important is proximity to work? Particularly if the coronavirus pandemic has opened your (or your employer’s) eyes to working remotely, would you consider a move to a more remote area where you can afford a bigger house? Chat with a range of real estate agents and get into the habit of reading market media coverage. Have a sense of what houses sell for that featured your desired attributes (such as more bedrooms or off-street parking). As a chartered building surveyor, I’d advise would-be downsizers to be cautious when buying a brand new high-rise apartment, due to risks of potentially costly defects that might become apparent over time. And remember, even if you do sell and buy a new place, very few are able to find the perfect home. You may decide to make renovations anyway. There are no easy answers. It comes down to your individual circumstances, your attitude to risk and ensuring you have a good grasp of the relative costs of each option. Talk to a financial adviser, tax accountant, real estate agents, builders, architects and others who have been through each process about what they’d do differently next time. Image credits: Getty Images This article originally appeared on <a href="https://theconversation.com/what-adds-value-to-your-house-how-to-decide-between-renovating-and-selling-140627" target="_blank" rel="noopener">The Conversation</a>.

Home Hints & Tips

As borders reopen, can New Zealand reset from high volume to ‘high values’ tourism?

With the <a href="https://covid19.govt.nz/international-travel/travel-to-new-zealand/when-new-zealand-borders-open/" target="_blank" rel="noopener">reopening of New Zealand’s borders</a> from next week, the future of tourism comes into sharp relief. Flattened by the pandemic and having survived on domestic consumption for two years, the industry has a choice: try to revive the old ways, or develop a new model. If tourism minister Stuart Nash has his way, there is <a href="https://www.beehive.govt.nz/speech/otago-university-tourism-policy-school-%E2%80%9Cstructural-change-regenerative-tourism%E2%80%9D" target="_blank" rel="noopener">no going back</a>. “Tourism won’t return to the way it was,” he told Otago University’s <a href="https://events.otago.ac.nz/otps2022/programme" target="_blank" rel="noopener">Tourism Policy School</a> recently, “it will be better.” But how? The question is coming down to the various definitions of “value” – both the monetary and less tangible kinds. When Nash <a href="https://www.rnz.co.nz/news/national/430862/tourism-minister-to-ban-tourist-vans-that-are-not-self-contained" target="_blank" rel="noopener">addressed a tourism summit</a> in late 2020, “high value” clearly meant “high spending”. New Zealand would “unashamedly” target the wealthy – the type of tourist who “flies business class or premium economy, hires a helicopter, does a tour around Franz Josef and then eats at a high-end restaurant.” The minister also asked: “Do you think that we want to become a destination for those freedom campers and backpackers who don’t spend much and leave the high net worth individuals to other countries?” There was immediate concern that such a policy would overlook the broader <a href="https://theconversation.com/5-reasons-why-banishing-backpackers-and-targeting-wealthy-tourists-would-be-a-mistake-for-nz-150639" target="_blank" rel="noopener">value of “lower-end”</a> tourism: backpackers and other budget tourists might not spend as much per day, but they tend to travel for longer periods, bring dollars to remoter locations, and often work in understaffed industries like horticulture and hospitality. At the same time, high-spending tourists hiring helicopters tend to place a high per-capita burden on the environment and contribute more to <a href="https://theconversation.com/as-borders-open-and-international-travel-resumes-will-new-zealands-sky-high-aviation-emissions-take-off-again-179941" target="_blank" rel="noopener">climate change</a>. Clearly, what constitutes “high value” is up for debate. <blockquote class="twitter-tweet"> 'Warmest welcome you can imagine' - PM opens doors to tourists <a href="https://t.co/7zj7bHbbaw">https://t.co/7zj7bHbbaw</a> — RNZ News (@rnz_news) <a href="https://twitter.com/rnz_news/status/1504711690478268416?ref_src=twsrc%5Etfw">March 18, 2022</a></blockquote> From high value to high values Now, however, the minister is <a href="https://www.rnz.co.nz/news/top/463982/tourism-can-no-longer-be-built-on-the-back-of-cheap-labour-stuart-nash" target="_blank" rel="noopener">defining the high-value tourist</a> differently. They give back more than they take, appreciate those working in the tourism sector, are keen to learn about the people and places they are visiting, are environmentally aware and offset their carbon emissions. This shift in thinking prompted one participant at the tourism policy school to suggest that instead of “high value” tourism, New Zealand needs to be talking about “high values” tourism. The sentiment chimed with the policy school’s theme of “structural change for regenerative tourism”, and a general feeling that this will involve looking inward to certain core values that matter to the country. Attendees – including industry leaders, academics, government officials and tourism business owners – supported the idea that “regenerative” in this context matches the important Māori values of <a href="https://teara.govt.nz/en/kaitiakitanga-guardianship-and-conservation" target="_blank" rel="noopener">kaitiakitanga</a>, <a href="https://teara.govt.nz/en/kotahitanga-unity-movements" target="_blank" rel="noopener">kotahitanga</a> and <a href="https://maoridictionary.co.nz/search?keywords=manaakitanga" target="_blank" rel="noopener">manaakitanga</a>, which should inform the future direction of tourism in Aotearoa. <figure class="align-center "><img src="https://images.theconversation.com/files/455950/original/file-20220403-95783-x0s687.jpg?ixlib=rb-1.1.0&q=45&auto=format&w=754&fit=clip" sizes="(min-width: 1466px) 754px, (max-width: 599px) 100vw, (min-width: 600px) 600px, 237px" srcset="https://images.theconversation.com/files/455950/original/file-20220403-95783-x0s687.jpg?ixlib=rb-1.1.0&q=45&auto=format&w=600&h=400&fit=crop&dpr=1 600w, https://images.theconversation.com/files/455950/original/file-20220403-95783-x0s687.jpg?ixlib=rb-1.1.0&q=30&auto=format&w=600&h=400&fit=crop&dpr=2 1200w, https://images.theconversation.com/files/455950/original/file-20220403-95783-x0s687.jpg?ixlib=rb-1.1.0&q=15&auto=format&w=600&h=400&fit=crop&dpr=3 1800w, https://images.theconversation.com/files/455950/original/file-20220403-95783-x0s687.jpg?ixlib=rb-1.1.0&q=45&auto=format&w=754&h=503&fit=crop&dpr=1 754w, https://images.theconversation.com/files/455950/original/file-20220403-95783-x0s687.jpg?ixlib=rb-1.1.0&q=30&auto=format&w=754&h=503&fit=crop&dpr=2 1508w, https://images.theconversation.com/files/455950/original/file-20220403-95783-x0s687.jpg?ixlib=rb-1.1.0&q=15&auto=format&w=754&h=503&fit=crop&dpr=3 2262w" alt="" /><figcaption>A carving workshop at Rotorua: according the same respect and mana to hosts and visitors alike. Shutterstock</figcaption></figure> Mana and manaakitanga The implications of this approach were well articulated by Nadine ToeToe, director of Kohutapu Lodge, an award-winning tourism business in the central North Island. She proposed a new tourism model that advances manaakitanga (kindness and hospitality) to guests, while also enhancing the <a href="https://maoridictionary.co.nz/search?idiom=&phrase=&proverb=&loan=&histLoanWords=&keywords=mana" target="_blank" rel="noopener">mana</a> of their hosts, local communities and the surrounding environment. With her business based in the area around Murupara, which is beset by historical injustices and downturns in the forestry industry, ToeToe described the potential of tourism to move beyond simple service industry conventions. Rather, more authentic, culturally embedded experiences could be offered, based on building respectful relationships with the people and places visited. This would mean manaakitanga was reciprocal, benefiting both guests and local communities. By being designed to enhance people, community and place, tourism would necessarily break from the old volume-driven model that was putting many natural environments under <a href="https://www.pce.parliament.nz/media/196983/report-pristine-popular-imperilled.pdf" target="_blank" rel="noopener">significant pressure</a> prior to the pandemic. <figure class="align-center "><img src="https://images.theconversation.com/files/455948/original/file-20220403-61039-4aohcx.jpg?ixlib=rb-1.1.0&q=45&auto=format&w=754&fit=clip" sizes="(min-width: 1466px) 754px, (max-width: 599px) 100vw, (min-width: 600px) 600px, 237px" srcset="https://images.theconversation.com/files/455948/original/file-20220403-61039-4aohcx.jpg?ixlib=rb-1.1.0&q=45&auto=format&w=600&h=338&fit=crop&dpr=1 600w, https://images.theconversation.com/files/455948/original/file-20220403-61039-4aohcx.jpg?ixlib=rb-1.1.0&q=30&auto=format&w=600&h=338&fit=crop&dpr=2 1200w, https://images.theconversation.com/files/455948/original/file-20220403-61039-4aohcx.jpg?ixlib=rb-1.1.0&q=15&auto=format&w=600&h=338&fit=crop&dpr=3 1800w, https://images.theconversation.com/files/455948/original/file-20220403-61039-4aohcx.jpg?ixlib=rb-1.1.0&q=45&auto=format&w=754&h=424&fit=crop&dpr=1 754w, https://images.theconversation.com/files/455948/original/file-20220403-61039-4aohcx.jpg?ixlib=rb-1.1.0&q=30&auto=format&w=754&h=424&fit=crop&dpr=2 1508w, https://images.theconversation.com/files/455948/original/file-20220403-61039-4aohcx.jpg?ixlib=rb-1.1.0&q=15&auto=format&w=754&h=424&fit=crop&dpr=3 2262w" alt="" /><figcaption>Helicopter sightseeing in the Southern Alps: more than one definition of ‘high value’. Shutterstock</figcaption></figure> Time for a reset Of course, it is one thing to suggest that tourism respect the wairua (spirit) of the land, and quite another to put the legislative and regulatory frameworks around a pathway to sustainability. To a degree this is beginning to happen already. For example, following concerns about a promised crackdown on freedom camping, the minister stepped back from banning vans that weren’t self-contained. However, proposed <a href="https://www.mbie.govt.nz/immigration-and-tourism/tourism/tourism-projects/responsible-camping/freedom-camping-changes/" target="_blank" rel="noopener">policy changes</a> will go to select committee this year, with new rules to be rolled out gradually from next summer. These should align with the <a href="https://www.odt.co.nz/star-news/star-national/freedom-campers-welcome-right-vehicle-right-place" target="_blank" rel="noopener">minister’s view</a> that “… at the heart of the new law will be greater respect for the environment and communities through a ‘right vehicle, right place’ approach” (with fines of up to NZ$1,000 for offenders). The challenge now is to broaden that vision beyond individual businesses, or pockets of concern such as freedom camping, to encompass the entire industry. Because there can be no better time than now for a values-based reset of New Zealand tourism.<img style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important;" src="https://counter.theconversation.com/content/180298/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" /> <a href="https://theconversation.com/profiles/regina-scheyvens-650907" target="_blank" rel="noopener">Regina Scheyvens</a>, Professor of Development Studies, <a href="https://theconversation.com/institutions/massey-university-806" target="_blank" rel="noopener">Massey University</a> and <a href="https://theconversation.com/profiles/apisalome-movono-1108178">Apisalome Movono</a>, Senior Lecturer in Development Studies, <a href="https://theconversation.com/institutions/massey-university-806" target="_blank" rel="noopener">Massey University</a> This article is republished from <a href="https://theconversation.com" target="_blank" rel="noopener">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/as-borders-reopen-can-new-zealand-reset-from-high-volume-to-high-values-tourism-180298" target="_blank" rel="noopener">original article</a>. Image: Getty Images

Domestic Travel

Five home improvements that WON’T add value

Though renovations and home improvements are usually a sure way to add value to your property, that isn’t always true. There are some improvements that require a large investment that won’t turn a profit when you come to sell and others that add no value at all. Wendy Chamberlain, an avid house flipper and Buyer’s Advocate, shares five home improvements that won’t bump up your property’s selling price. 1. Over-the-top kitchen and bathroom updates Though renovating the kitchen and bathroom is usually a worthwhile investment, ‘over renovating’ these spaces may result in your hard work (and cash) failing. “Some key areas may make the home look more modern, but ultimately, buyers may not care that much,” Chamberlain told <a rel="noopener" href="https://www.domain.com.au/news/8-home-improvements-that-wont-add-value-to-your-property-2-1113892/" target="_blank">Domain</a>. “If the existing kitchen, while dated, is functional, you may get away with leaving it as is and focusing your cash and efforts elsewhere.” As for the bathroom, adding marble tiles or other luxury fitting and fixtures may look great, but often won’t return the value you’d expect. 2. Integrated heating and cooling “Heating and cooling are areas unlikely to provide an immediate renovation return,” Chamberlain said. Since buyers will generally be satisfied with a simple split system air conditioning unit, installing expensive full ducting - which can cost up to $20,000 depending on the size of the house - may end up being a waste of money. “Ducted heating and refrigerated cooling are expensive to install. For your reno, a cheaper yet effective split system heating/cooling unit may be just as adequate for the job.” 3. Inconsistent design Adding stylish gold tapware and marble tiles to a bathroom sounds great, but it can work against you if the rest of the home uses chrome fittings and laminate floors - and stays that way. Chamberlain explained that changing one or two items or areas could also highlight problem areas in the house: “when you change one thing, the next looks dated”. 4. Bespoke features and luxe fittings Though it’s common to see top-of-the-line flooring, fancy tech, imported tiles and elaborate light fittings in multi-million-dollar celebrity homes, more often than not these higher quality details won’t impact the final selling price as much as you may expect. Some custom high-end inclusions like an infrared sauna can also be seen as personal, while buyers will be wanting to see themselves in the space as their own (which may be sauna-free). 5. Messing with the existing floor plan For owners looking to renovate before selling to improve their returns, removing rooms is a big no-no. Chamberlain added that moving or removing load-bearing walls can become costly quickly. “Not to mention the quickly escalating costs as soon as you need to move plumbing,” she said. “If you can, stick to the existing layout and renovate the rooms and floor plan you already have. Tips for renovating “When renovating, always keep in mind what is going to appeal to a future buyer when the time comes to eventually sell,” Chamberlain said. Before you bust up the drop sheets or call a builder, it’s important to do your research and note how your plans may compare to other homes in your area that are on the market. “If you’re renovating a property with the primary aim to sell it, consider which updates or areas will result in the best return for every dollar spent,” Chamberlain said. Image: Getty Images

Home Hints & Tips

What is Bitcoin’s fundamental value? That’s a good question

As it hits new highs, there is no shortage of bold predictions about Bitcoin <a href="https://www.forbes.com/sites/billybambrough/2021/11/02/crypto-price-prediction-bitcoin-could-hit-100000-before-the-end-of-2021-but-lacks-ethereum-intensity/?sh=392b38e96b7d">reaching US$100,000</a> or more. Often these are based on not much more than extrapolations by people with vested interests: the price has gone up a lot so it will keep going up. If it gets above its previous high, it must keep going up. There is also “charting” or “technical analysis” – looking at graphs and seeing patterns in them. There may be fancy terms such as “<a href="https://cointelegraph.com/news/analysts-expect-parabolic-bitcoin-price-move-after-the-last-resistance-at-67k-falls">resistance levels</a>” and “<a href="https://www.investopedia.com/terms/t/tenkansen.asp#:%7E:text=Tenkan-sen%2C%20or%20conversion%20line%2C%20crates%20a%20moving%20average,information%20in%20a%20single%20view%20for%20technical%20analysts.">Tenkan-Sen</a>”. There is talk about “<a href="https://seekingalpha.com/article/4459569-bitcoin-fundamentals-and-technicals-tell-the-same-story">fundamentals</a>”. Let’s examine this last idea. Does Bitcoin have a fundamental value? <h2>Calculating fundamental values</h2> A fundamental value in traditional financial-speak means a value based on what return (or cash flow) is generated by an asset. Think of an apple tree. To an investor its fundamental value is in the apples it produces. In the case of company shares, the fundamental value is the dividend paid from profits. A standard measure used by investors is the price-to-earnings ratio. In property, the fundamental value reflects the rent the investor earns (or the owner-occupier saves). For a bond, the value depends on the interest it pays. Gold has a fundamental value also, based on its use for jewellery or dental fillings or in electronics. But this value is not why most people buy gold. <h2>Fundamentals for cryptocurrencies</h2> National currencies are different. Their value is in being a trusted and accepted unit of exchange. In the past coins made with gold and silver had a fundamental value because they could be melted down for their precious metals. That’s no longer the case with fiat currencies, whose value depends solely on people trusting that others accept them at face value. Most cryptocurrencies, such as Bitcoin, Ethereum and Dogecoin are essentially private <a href="https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3888752">fiat currencies</a>. They have no corresponding assets or returns. This makes it hard to determine a fundamental value. In September analysts with Britain’s Standard Chartered Bank <a href="https://www.nasdaq.com/articles/%24789-billion-standard-chartered-sees-bitcoin-hitting-%24100000-by-early-next-year-2021-09-08">argued</a> Bitcoin could peak at about US$100,000 by the end of 2021. “As a medium of exchange, Bitcoin may become the dominant peer-to-peer payment method for the global unbanked in a future cashless world,” said the head of the bank’s crypto research team, Geoffrey Kendrick (a former Australian Treasury official). Theoretically this could be possible. Globally an estimated <a href="https://www.brinknews.com/bridging-the-digital-divide-to-widen-financial-services-in-central-asia/">1.7 billion people</a> lack access to banking services. But Bitcoin has been spruiked as the future of payments since its invention in 2008. It has made little progress. There are at least two significant barriers. First is the computational grunt needed to process payments. Technology may overcome this. The second obstacle is harder: the volatility of its price. Digital currencies that can maintain a stable value are more likely to become payment instruments. These include the existing stablecoins, <a href="https://www.reuters.com/technology/facebook-backed-crypto-project-diem-launch-us-stablecoin-major-shift-2021-05-12/">Meta’s mooted Diem</a> and <a href="https://www.bis.org/publ/work976.pdf">central bank digital currencies</a>, already <a href="https://www.sanddollar.bs/">operational</a> in some Caribbean economies. So far the only significant company to have accepted payments in Bitcoin is Tesla, which announced this policy in March only to reverse <a href="https://www.bbc.com/news/business-57096305">it in May</a>. The only country to adopt Bitcoin as an approved currency is El Salvador (which also uses the US dollar). But it is far from clear what benefits there are. The laws forcing businesses to accept the cryptocurrency have also led to protests. <h2>Bitcoin as digital gold</h2> If Bitcoin has no real value as a widespread means of payment, what about as a store of value, like digital gold? It does have this advantage over most of the “altcoins”. Its supply, like gold, is (arguably) limited. One tool used by crypto enthusiasts to compare Bitcoin’s scarcity with gold is called the <a href="https://www.cointree.com/learn/bitcoins-stock-to-flow-model/">“stock-to-flow” model</a>. This approach claims gold holds its value because the existing stock of gold is 60 times more than the amount of new gold mined each year. The stock of Bitcoin is more than 50 times than the new coins “mined” annually. But this does not explain why Bitcoin’s price halved earlier this year. Nor does it have any theoretical basis in economics: prices don’t depend just on supply. Some <a href="https://markets.businessinsider.com/news/currencies/cathie-wood-bitcoin-price-prediction-jump-500000-ether-confidence-high-2021-9">Bitcoin promoters</a> predict higher prices on the assumption funds managers will eventually invest an abritrary proportion, say 5%, of their funds in Bitcoin. But such predictions implicitly assume Bitcoin, as the largest and best-known cryptocurrency, will continue to maintain its dominant position in the crypto market. This is not guaranteed. And there is no limit to the number of cryptocurrency alternatives. Remember Bankcard? This credit card company once had 90% of the Australian market in the early 1980s. It was defunct by 2006. What about MySpace? Before 2008 it was a bigger social networking site than Facebook. <h2>Here we go again</h2> In September <a href="https://www.economist.com/leaders/2021/09/18/the-beguiling-promise-of-decentralised-finance">The Economist</a> argued Bitcoin “is now a distraction” to the future of decentralised finance, with rival blockchain cryptocurrency Ethereum “reaching critical mass”. There are parallels between the Bitcoin bubble and the dotcom bubble of 2000, driven by overly optimistic assumptions about new technologies – and human greed. Just as a few stars such as Amazon emerged from the wreckage of the dot.com bubble, so it is possible some applications of the block-chain technology underlying Bitcoin have enduring utility. But I doubt Bitcoin will be one of them.<img style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important; text-shadow: none !important;" src="https://counter.theconversation.com/content/171387/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" /> <a href="https://theconversation.com/profiles/john-hawkins-746285">John Hawkins</a>, Senior Lecturer, Canberra School of Politics, Economics and Society and NATSEM, <a href="https://theconversation.com/institutions/university-of-canberra-865">University of Canberra</a> This article is republished from <a href="https://theconversation.com">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/what-is-bitcoins-fundamental-value-thats-a-good-question-171387">original article</a>.

Retirement Income

How can you find out what your car is worth?

When it’s time to upgrade our car, we need to find out what our current vehicle is worth. But what’s the best way to do that? Whether we like it or not, our cars are always depreciating. From the moment we sign the papers and hand over our money for a new car, the dollar value of that vehicle goes down with time. So, if you feel it’s time to upgrade your car, how do you find out its market value? The easiest way to do a car market value check is through car websites with a car market value calculator. You could also browse car sales listings to see how much other people are selling or willing to buy the same model for. Whatever method you use, it’s essential to understand that your car’s market value is only a rough indicator. Your car has its own amount of damage – you may have a slight ding here or there – and it also depends how old your car is and how well you’ve serviced it over the years. So, if you’re planning to sell your car online, there’s no guarantee you’ll get the same dollar amount that other cars of the same model and year have been advertised for. Here’s a bit more information on how to get as close as possible to what is the value of your car and what price you should advertise it for. Using Google is a useful method These days, all you have to do is Google the term ‘What is my car market value?’ to find a long list of helpful websites. From there, find one that has a car market value calculator. These calculators are databases which help you find the information you need based on the car brand, model, and manufacturing year. One well-known website which has been around for a long time is Redbook and they do car valuations for a small amount. They ask for a lot of detail including if you’ve had any accidents, how many kilometres the car’s done etc. Again, remember when you get these valuations, they are still mainly indicators. But these give you a good idea of the price range your car should be in. Also check your car sales listings Another way to get an understanding of your car's market value is to check car sales listings. As you might already know, there are plenty of websites in Australia and beyond which allow people to put their cars up for sale. Using this method, you will need to do some 'detective work' to check your car market value. So, browse these car sales websites and look for any cars which match your vehicle’s brand, model, and manufacturing year. See if you can find one that’s close to the same condition as yours as well. From there, find out how much the sellers are putting their cars up for. Firstly, those prices act as valuable indicators of your car’s market value. But more importantly, it’ll also show you how much the market is willing to pay for a vehicle like yours. With this kind of approach, your car market value check isn’t just about finding out indicators. It’s also helpful because it gives you a clear sense of how much money you could realistically get from potential buyers. Finally, good luck! Working out what your car is worth is not easy and it is always open to different opinions. For example, in one state of Australia a certain car could be worth more than in another state. But if you follow the steps we've talked about, you'll get a very good idea of what you can expect to sell your car for. The next step is to list it on an online car sales site and see if you can sell it for as close as possible to the price you've valued it at. There's always and element of luck to this part because it depends if you find a buyer who really wants your car - the brand, the model etc. So, good luck! Photo: Getty Images

Money & Banking

5 surprising things that decrease property value

After making a huge investment into your own property, it makes sense that you would want to keep your house in good condition. There are a lot of surprising ways that your property can decrease in value over time. Here are just five of them to look out for. Poor exterior paint quality Your home’s exterior is the first impression people get of your house. So exterior paint that’s faded, cracked or peeling is a big turnoff. Another negative is painting your home an offbeat colour. Buyers favour neutral colours like grey, white, cream and beige. So pick your colours with care and repaint the exterior when it starts to look bad. Deferred maintenance Have a backlog of serious repairs, such as a leaky roof, damaged cladding, or drooping gutters? If so, it’s best to tackle them ASAP. Letting them languish on your to-do list will only chip away at your home’s property value. What’s more, it’s often more expensive to remedy these issues the longer you wait. Neighbourhood foreclosures A foreclosure close to your home hurts your home’s property value. That’s because appraisers look at comparable selling prices in your neighbourhood when estimating your home’s value. What’s more, foreclosed homes may sit vacant without any maintenance for a long time. That also doesn’t bode well for your property value. Proximity to certain facilities and businesses Studies show that living close to certain businesses and facilities can drag down property values. Being in close proximity to the following are associated with these drops in property value: Bad school (22.2%) Strip club (14.7%) Homeless shelter (12.7%) Cemetery (12.3%) Funeral home (6.5%) An unsightly yard They call it curb appeal for a reason. If your yard is in poor condition or overrun with stuff, expect your property value to suffer. On the flip side, elaborate landscaping or a koi pond can also put a dent in your property value since many homeowners don’t want to handle the extra maintenance. A final yard-related turnoff: trees located too close (less than 6m) to your house. Image credit: Shutterstock This article first appeared on <a rel="noopener" href="https://www.readersdigest.co.nz/food-home-garden/money/10-surprising-things-that-decrease-property-value" target="_blank" title="Surprising things that decrease property value">Reader’s Digest</a>.

Retirement Income

Why we value diamond rings and other Valentine's Day gifts

“Diamonds are a girls best friend”, so the saying goes. These shiny rocks are durable and pricey. And on Valentine’s Day, it’s likely someone’s new diamond engagement ring will pop up on your Facebook or Twitter feed. Many couples rely on rings to communicate their deepest feelings to each other and the world. An engagement ring is worth more than its sticker price: it tells family, friends and strangers that you are planning a wedding, you are cherished, you are an adult. It is likely the most expensive and most important object many of us will ever own, but why do we invest sentimental feelings in inanimate objects? Turning objects into cherished items is nothing new. People have been spinning tales about why <a href="http://www.utpjournals.press/doi/abs/10.3138/ecf.23.2.347">things matter</a> to them for centuries. Think of your favourite teddy bear, your baby blanket, the hand-me-down furniture and bric-a-brac around your home. These objects may be crafted from ordinary cotton, wood or clay, but our feelings about them turn them into valuable assets. We cost them well above their price in the marketplace. Not just a ring It’s a story I know all too well. Over ten years ago, as my now husband and I were starting to talk marriage, I asked my mother if she was ready to part with her grandmother’s engagement ring. The setting needed work, she said, and the “diamonds” were small (I believe she used the word “paste”). It was clear she wasn’t ready. And after all, I had never even met my great grandmother. Margaret had endured an unhappy marriage: she left her husband in 1925 and divorced him in 1941 (the grounds were adultery). How could this ring possibly ensure anyone’s happiness? Two years after my son was born, my mother bestowed this ring, of no great monetary value, upon me. We both teared up. Three weeks later, I lost the ring. I turned our house upside down searching for it. I cried. I lied to my mother about how much I was wearing it. Six months later, my toddler ran into my bedroom, gleefully brandishing a small, shiny object he had discovered (or more likely squirrelled away). It was the ring. I screamed. I cried again. I rang my mother to confess. The ring had transformed from a keepsake passed from mothers to daughters for three generations into a new tale of lost and found. Stories about objects In the 18th-century, dozens of writers took to a new form of fiction that focused on ordinary things – coins, banknotes, shoes, carriages, dolls. These stories brought things to life, granting them their own voices. Today literary scholars call them “object-narratives” or “it-narratives”, so named after their inanimate protagonists. Think Toy Story, Georgian-style. My own research into <a href="http://www.cambridge.org/us/academic/subjects/literature/english-literature-1700-1830/women-work-and-clothes-eighteenth-century-novel?format=PB#7ipO191ldzRTSTjh.97">18th-century clothes</a> has meant reading novels narrated by waistcoats, petticoats, shoes and slippers. Georgian object narratives overflow with scandalous gossip about the foibles of humans. The brothel is a frequent stop in these tales of circulation and the truths (mostly of the bedroom variety) owners seek to conceal from the world. And at the time, these stories became so popular that book reviewers complained about them flooding the literary marketplace. By the late 18th-century, the genre had grown up to focus on children and their possessions. Children could read about <a href="https://www.google.co.uk/search?q=The+Adventures+of+a+Pincushion&oq=The+Adventures+of+a+Pincushion&aqs=chrome..69i57j69i64.2014j0j9&sourceid=chrome&ie=UTF-8">The Adventures of a Pincushion</a>, the <a href="https://books.google.co.uk/books/about/The_Life_and_Perambulations_of_a_Mouse.html?id=6YY6AQAAMAAJ&printsec=frontcover&source=kp_read_button&redir_esc=y#v=onepage&q&f=false">Life and Perambulation of a Mouse</a>, <a href="https://books.google.co.uk/books/about/The_Adventures_of_a_Whipping_top.html?id=SPt4mQEACAAJ&redir_esc=y">The Adventures of a Whipping-Top</a> and The Silver Thimble. English professor and author Lynn Festa has <a href="http://www.bucknell.edu/script/upress/book.asp?id=255">written brilliantly</a> about how these stories instructed Georgian children to care for their things: good owners made good British subjects. And in this way, it’s not hard to see how these stories paved the way for books like <a href="https://www.google.co.uk/imgres?imgurl=http://t1.gstatic.com/images?q%3Dtbn:ANd9GcSZ7ylq6PDaokG7VNWpt6qbBSxnnyL9q8R1_fFIV3-yc5yE5gAe&imgrefurl=https://books.google.com/books/about/The_Velveteen_Rabbit_Or_How_Toys_Become.html?id%3DcRumDgAAQBAJ%26source%3Dkp_cover&h=700&w=543&tbnid=_fzxhK683qN9ZM:&tbnh=160&tbnw=124&usg=__2yGT0rjbbLH3hEm7BsDkJ4GqZWE%3D&vet=10ahUKEwiK17mTnaDZAhXJAMAKHYh5AjQQ_B0IkwIwHQ..i&docid=DLhr4nyP5RT_wM&itg=1&sa=X&ved=0ahUKEwiK17mTnaDZAhXJAMAKHYh5AjQQ_B0IkwIwHQ">The Velveteen Rabbit</a> and <a href="https://www.waterstones.com/series/paddington">Paddington Bear</a>. The story of things Last year, I led a school project that taught children how to recreate these tales. In the <a href="http://www.fairfaxhouse.co.uk/education/story-of-things/">Story of Things</a>, year four and five pupils devised their own versions of the histories of secret dresser drawers, tea caddies, dolls, shoes and yes, many chamber pots, inspired by the collection of Georgian furniture at <a href="http://www.fairfaxhouse.co.uk">Fairfax House</a> in York. I thought I was teaching the children, but their brilliant stories convinced me of our <a href="http://www.fairfaxhouse.co.uk/education/story-of-things/teacher-resources/">continued longing</a> to connect with the objects around us and our imaginative capacities to turn inanimate things into vivid, talkative beings. On Valentine’s Day, it’s all to easy to feel annoyed by couples advertising their deepest feelings with objects – or by the ever more elaborate stakes of social media ready proposals. But it’s important to remember, that we all hold at least one object close to our hearts – no matter how chic or shabby. And in this way, the stories we tell ourselves about the things we own remind us of the ways we love and are loved by others.<img style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important; text-shadow: none !important;" src="https://counter.theconversation.com/content/89056/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" /> <a href="https://theconversation.com/profiles/chloe-wigston-smith-429745">Chloe Wigston Smith</a>, Lecturer in 18th-century Literature, <a href="https://theconversation.com/institutions/university-of-york-1344">University of York</a> This article is republished from <a href="http://theconversation.com">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/why-we-value-diamond-rings-and-other-valentines-day-gifts-89056">original article</a>.

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Storytelling allows elders to transfer values and meaning to younger generations

Bees have appeared on coins for millennia, hinting at an age-old link between sweetness and value

Antiques Roadshow guest floored by value of father’s gift

Backlash to new kids clothing line sees Target lose billions

The rich are pouring millions into life extension research – but does it have any ethical value?

3 home improvement hacks to add value to your home

How to increase the value of your home in one weekend

Pink reveals how she teaches her daughter the value of hard work

Eco-activist attacks on museum artwork ask us to figure out what we value

When’s the best time to use frequent flyer miles to book flights? Two economists crunched the numbers on maximizing their dollar value

The value of a banana: understanding absurd and ephemeral artwork

Ultra-processed foods: it’s not just their low nutritional value that’s a concern

The tricky notion of ‘value’ in the arts

What adds value to your house? How to decide between renovating and selling

As borders reopen, can New Zealand reset from high volume to ‘high values’ tourism?

Five home improvements that WON’T add value

What is Bitcoin’s fundamental value? That’s a good question

How can you find out what your car is worth?

5 surprising things that decrease property value

Why we value diamond rings and other Valentine's Day gifts

News

Shop

Catalogues

Travel

Health

Lifestyle

Finance

Entertainment

Property

Information

Keep up to date

Search

Storytelling allows elders to transfer values and meaning to younger generations

Bees have appeared on coins for millennia, hinting at an age-old link between sweetness and value

Antiques Roadshow guest floored by value of father’s gift

Backlash to new kids clothing line sees Target lose billions

The rich are pouring millions into life extension research – but does it have any ethical value?

3 home improvement hacks to add value to your home

How to increase the value of your home in one weekend

Pink reveals how she teaches her daughter the value of hard work

Eco-activist attacks on museum artwork ask us to figure out what we value

When’s the best time to use frequent flyer miles to book flights? Two economists crunched the numbers on maximizing their dollar value

The value of a banana: understanding absurd and ephemeral artwork

Ultra-processed foods: it’s not just their low nutritional value that’s a concern

The tricky notion of ‘value’ in the arts

What adds value to your house? How to decide between renovating and selling

As borders reopen, can New Zealand reset from high volume to ‘high values’ tourism?

Five home improvements that WON’T add value

What is Bitcoin’s fundamental value? That’s a good question

How can you find out what your car is worth?

5 surprising things that decrease property value

Why we value diamond rings and other Valentine's Day gifts

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