Today's Paper

There are often some very funny anecdotes in the "Metropolitan Diary" column in the New York Times. Today, two of them happened to relate to money:

Dear Diary:

As I was ascending the escalator of the 63rd Street subway station on my way to work, I overheard quite a funny exchange, but because I am an escalator-climber and my interlocutors were escalator-standers, I caught only a snippet of the conversation.

A little girl, probably around 6 years old, exclaimed, “I’m going to get $2,000!”

The woman with her, presumably her mother, replied in a calm and practical tone:

“My dear, don’t be silly; if the tooth fairy gave everyone $2,000, nobody would have any teeth.”

Jane Farren

Dear Diary:

While having lunch at an East Side restaurant, I overheard the waiter present the dessert menu to two diners in the next booth and ask if they would like to order anything.

“No thanks,” said the first. “I’m full.”

“I just started a diet,” said the second. “I’ll pass, too.”

“Dessert comes with the price-fixed lunch,” replied the waiter.

Diner No. 1: “I’ll have the chocolate cake.”

Diner No. 2: “I’ll have the rice pudding.”

Bob Levoy

I also found this interesting tidbit in the Business section: High Prices Help Sell All-in-One Products. Basically, it says that people think all-in-one products, such as a laundry detergent that removes stains AND brightens colors, probably won't work as well as using two separate products, each of which specializes in one of those tasks. But if you make the all-in-one product more expensive that buying the separate products, they are more likely to think it will be effective! The graphic that accompanies the story in the print edition says that 54.1% of test subjects chose all-in-one products over equally priced specialized ones, but 74.3% chose more expensive all-in-one products over specialized ones. Sometimes we just believe things must be more expensive because they're better, not just because someone wants to make money off us!