Prepaid Cell Phones Could Earn an Extra $11 Billion for the Nation's Poorest
Nicholas Sullivan at the MIT Media Lab has reached a similar conclusion to the one driving Google's Grandcentral for the homeless push -- communication is the key to success. The report out of MIT claims that putting prepaid cell phones in the hands of the 38 percent of the poorest Americans without one could earn them between $2.9 billion and $11 billion a year through increased business (for the self employed), and increased hours or wages.
The two surveys used to generate this report also found cell phones provided an important security blanket effect for the owners, with a vast majority of Americans agreeing that a cell phone was "very important" for emergency situations. This safety blanket effect is important because the poorest among us who would stand to benefit most financially from a cell phone are also disproportionately affected by crime.
That two for one shot, finances plus safety, makes us feel like some filthy rich philanthropist should start buying up and handing out every prepaid phone he/she can find.
From Textually and Cellular News
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