Consumer Rate Quotes

For their never-ending endeavours to obtain or retain wealth, countries desperately need companies, because they—unlike most human beings—have the means of production, and human beings, because they—unlike all companies—have the means of reproduction.

Consumer culture is best supported by markets made up of sexual clones, men who want objects and women who want to be objects, and the object desired ever-changing, disposable, and dictated by the market. The beautiful object of consumer pornography has a built-in obsolescence, to ensure that as few men as possible will form a bond with one woman for years or for a lifetime, and to ensure that women's dissatisfaction with themselves will grow rather than diminish over time. Emotionally unstable relationships, high divorce rates, and a large population cast out into the sexual marketplace are good for business in a consumer economy. Beauty pornography is intent on making modern sex brutal and boring and only as deep as a mirror's mercury, anti-erotic for both men and women.

White people are more likely than Black and Latinx people to sell drugs, and the races consume drugs at similar rates. Yet African Americans are far more likely than Whites to be jailed for drug offenses. Nonviolent Black drug offenders remain in prisons for about the same length of time (58.7 months) as violent White criminals (61.7 months). In 2016, Black and Latinx people were still grossly overrepresented in the prison population at 56 percent, double their percentage of the U.S. adult population. White people were still grossly underrepresented in the prison population at 30 percent, about half their percentage of the U.S. adult population.

The “consumer loan” piles that Wall Street firms, led by Goldman Sachs, asked AIG FP to insure went from being 2 percent subprime mortgages to being 95 percent subprime mortgages. In a matter of months, AIG FP, in effect, bought $50 billion in triple-B-rated subprime mortgage bonds by insuring them against default.

The result of all this muscular effort, on both the larger scale and the smaller, is that your body burns calories and consumes oxygen at a rate that is unmatched in almost any other human endeavor. Physiologists, in fact, have calculated that rowing a two-thousand-meter race—the Olympic standard—takes the same physiological toll as playing two basketball games back-to-back. And it exacts that toll in about six minutes.

You grew older today, but did you age as well? If you drank a few cups of green tea, had five servings of fruits and vegetables, exercised for at least 30 minutes at your target heart rate, took nutritional supplements optimized for your age and health situation, spent quality time with close friends and loved ones, consumed a glass of red wine, had a romantic (and sensual!) time with your spouse or significant other, and got 8 hours of quality sleep, then you probably aged very little if at all.

THE ORGANIC FOODS MYTH A few decades ago, a woman tried to sue a butter company that had printed the word 'LITE' on its product's packaging. She claimed to have gained so much weight from eating the butter, even though it was labeled as being 'LITE'. In court, the lawyer representing the butter company simply held up the container of butter and said to the judge, "My client did not lie. The container is indeed 'light in weight'. The woman lost the case. In a marketing class in college, we were assigned this case study to show us that 'puffery' is legal. This means that you can deceptively use words with double meanings to sell a product, even though they could mislead customers into thinking your words mean something different. I am using this example to touch upon the myth of organic foods. If I was a lawyer representing a company that had labeled its oranges as being organic, and a man was suing my client because he found out that the oranges were being sprayed with toxins, my defense opening statement would be very simple: "If it's not plastic or metallic, it's organic." Most products labeled as being organic are not really organic. This is the truth. You pay premium prices for products you think are grown without chemicals, but most products are. If an apple is labeled as being organic, it could mean two things. Either the apple tree itself is free from chemicals, or just the soil. One or the other, but rarely both. The truth is, the word 'organic' can mean many things, and taking a farmer to court would be difficult if you found out his fruits were indeed sprayed with pesticides. After all, all organisms on earth are scientifically labeled as being organic, unless they are made of plastic or metal. The word 'organic' comes from the word 'organism', meaning something that is, or once was, living and breathing air, water and sunlight. So, the next time you stroll through your local supermarket and see brown pears that are labeled as being organic, know that they could have been third-rate fare sourced from the last day of a weekend market, and have been re-labeled to be sold to a gullible crowd for a premium price. I have a friend who thinks that organic foods have to look beat up and deformed because the use of chemicals is what makes them look perfect and flawless. This is not true. Chemical-free foods can look perfect if grown in your backyard. If you go to jungles or forests untouched by man, you will see fruit and vegetables that look like they sprouted from trees from Heaven. So be cautious the next time you buy anything labeled as 'organic'. Unless you personally know the farmer or the company selling the products, don't trust what you read. You, me, and everything on land and sea are organic. Suzy Kassem, Truth Is Crying

At any rate, planning in this sense means all-around planning by the government and enforcement of these plans by the police power. Planning in this sense means full government control of business. It is the antithesis of free enterprise, private initiative, private ownership of the means of production, market economy, and the price system. Planning and capitalism are utterly incompatible. Within a system of planning production is conducted according to the government's orders, not according to the plans of capitalists and entrepreneurs eager to profit by best filling the wants of the consumers.

While India is undoubtedly complex, there still are some simple truths that managers have to accept. Indian consumers are very value-conscious. They may be poor, but they are not backward. Even in media-dark India, consumers are well informed. They are not overwhelmed by Western brands. And they can make a difference to the global positions of individual firms. Consider cellphones. The Indian market is growing at the rate of 6 million new subscribers per month.

But the whole modern world, or at any rate the whole modern Press, has a perpetual and consuming terror of plain morals. Men always attempt to avoid condemning a thing upon merely moral grounds...Why on earth do the newspapers, in describing a dynamite outrage or any other political assassination, call it a "dastardly outrage" or a cowardly outrage? It is perfectly evident that it is not dastardly in the least. It is perfectly evident that it is about as cowardly as the Christians going to the lions. The man who does it exposes himself to the chance of being torn in pieces by two thousand people. What the thing is, is not cowardly, but profoundly and detestably wicked. The man who does it is very infamous and very brave. But, again, the explanation is that our modern Press would rather appeal to physical arrogance, or to anything, rather than appeal to right and wrong.

It is an accepted fact that technology supersedes itself at a rate capable of bankrupting all but the wealthiest of consumers.

we’re helping the consumer. Because we’re taking him out of his high interest rate credit card debt and putting him into lower interest rate mortgage debt.

The progressive tendency of the general rate of profit to fall is, therefore, just an expression peculiar to the capitalist mode of production of the progressive development of the social productivity of labour. This does not mean to say that the rate of profit may not fall temporarily for other reasons. But proceeding from the nature of the capitalist mode of production, it is thereby proved a logical necessity that in its development the general average rate of surplus-value must express itself in a falling general rate of profit. Since the mass of the employed living labour is continually on the decline as compared to the mass of materialised labour set in motion by it, i.e., to the productively consumed means of production, it follows that the portion of living labour, unpaid and congealed in surplus-value, must also be continually on the decrease compared to the amount of value represented by the invested total capital. Since the ratio of the mass of surplus-value to the value of the invested total capital forms the rate of profit, this rate must constantly fall.

Regarding US government recommendations that tend to encourage dairy consumption in the name of preventing osteoporosis, Nestle notes that in parts of the world where milk is not a staple of the diet, people often have less osteoporosis and fewer bone fractures than Americans do. The highest rates of osteoporosis are seen in countries where people consume the most dairy foods.

The advantage of owning things is that one can continue to consume and accumulate without having to work, or at any rate continue to consume and accumulate more than one could produce on one’s own.

more people were incarcerated for drug crimes than violent crimes every year from 1993 to 2009. White people are more likely than Black and Latinx people to sell drugs, and the races consume drugs at similar rates.

To begin with, there is an almost compulsive promiscuity associated with homosexual behavior. 75% of homosexual men have more than 100 sexual partners during their lifetime. More than half of these partners are strangers. Only 8% of homosexual men and 7% of homosexual women ever have relationships lasting more than three years. Nobody knows the reason for this strange, obsessive promiscuity. It may be that homosexuals are trying to satisfy a deep psychological need by sexual encounters, and it just is not fulfilling. Male homosexuals average over 20 partners a year. According to Dr. Schmidt, The number of homosexual men who experience anything like lifelong fidelity becomes, statistically speaking, almost meaningless. Promiscuity among homosexual men is not a mere stereotype, and it is not merely the majority experience—it is virtually the only experience. Lifelong faithfulness is almost non-existent in the homosexual experience. Associated with this compulsive promiscuity is widespread drug use by homosexuals to heighten their sexual experiences. Homosexuals in general are three times as likely to be problem drinkers as the general population. Studies show that 47% of male homosexuals have a history of alcohol abuse and 51% have a history of drug abuse. There is a direct correlation between the number of partners and the amount of drugs consumed. Moreover, according to Schmidt, “There is overwhelming evidence that certain mental disorders occur with much higher frequency among homosexuals.” For example, 40% of homosexual men have a history of major depression. That compares with only 3% for men in general. Similarly 37% of female homosexuals have a history of depression. This leads in turn to heightened suicide rates. Homosexuals are three times as likely to contemplate suicide as the general population. In fact homosexual men have an attempted suicide rate six times that of heterosexual men, and homosexual women attempt suicide twice as often as heterosexual women. Nor are depression and suicide the only problems. Studies show that homosexuals are much more likely to be pedophiles than heterosexual men. Whatever the causes of these disorders, the fact remains that anyone contemplating a homosexual lifestyle should have no illusions about what he is getting into. Another well-kept secret is how physically dangerous homosexual behavior is.

Even at relatively low population densities, sprawl tends not to pay for itself financially and consumes land at an alarming rate, while producing insurmountable traffic problems and exacerbating social inequity and isolation.

Consumers of news should be aware of its built-in bias and adjust their information diet to include sources that present the bigger statistical picture: less Facebook News Feed, more Our World in Data.38 Journalists should put lurid events in context. A killing or plane crash or shark attack should be accompanied by the annual rate, which takes into account the denominator of the probability, not just the numerator. A setback or spate of misfortunes should be put into the context of the longer-term trend.

Incredibly, the human brain does all of its mega-computing on roughly 20 watts of power, which is the equivalent of a very dim light bulb. By comparison, a supercomputer capable of a similar rate of computation requires 200,000 watts – in other words, it is 10,000 times less energy-efficient than the human brain. Despite the human brain’s efficiency, however, it is extraordinarily energy hungry compared with all other tissues. While accounting for only 2 to 3 per cent of the mass of an adult, it consumes about 20 per cent of the body’s oxygen.

Universities today loudly proclaim their commitment to diversity. But in the meantime, democratization through public investment has been replaced by democratization through consumer credit, effectively transferring the costs of diversity back to the individual student and her family. The beauty of securitized credit is that it excludes no one a priori. By abstracting from class stratification in the present, it can accommodate all differences preemptively simply by pricing them at variable rates and deferring repayment to some barely imaginable point in the future. In principle, we all have access to a college education, no matter how much we or our parents earn. Yet, private credit does not merely obscure the effects of class; it also actively exacerbates inequality by forcing those without income or collateral to pay higher rates for the same service. When the long-term costs of credit begin to materialize and accumulate, students are once again confronted with the intractable resistances of class, race, and gender stratification. The divisions of family wealth reassert themselves with all their historical force.

The dropout rates in time-restricted feeding trials certainly appear lower than in more prolonged forms of intermittent fasting, suggesting they’re more easily tolerable,4320 but do they work? When people stopped eating between 7:00 p.m. and 6:00 a.m. for two weeks, they lost about a pound each week compared to no time restriction. Note that no additional instructions or recommendations were given on the amount or type of food consumed. There were no gadgets, calorie counting, or record keeping. They were just told to limit their food intakes to the hours of 6:00 a.m. through 7:00 p.m.

Essentially, then, as European adventurers, missionaries, and colonists were condemning the indigenous people they encountered for practicing cannibalism, their own rulers and countrymen in Europe were consuming human body parts to a degree and at a rate that would have made Hannibal Lecter proud.

Thomas had no concept of time as he went through the Changing. It started much like his first memory of the Box—dark and cold. But this time he had no sensation of anything touching his feet or body. He floated in emptiness, stared into a void of black. He saw nothing, heard nothing, smelled nothing. It was as if someone had stolen his five senses, leaving him in a vacuum. Time stretched on. And on. Fear turned into curiosity, which turned into boredom. Finally, after an interminable wait, things began to change. A distant wind picked up, unfelt but heard. Then a swirling mist of whiteness appeared far in the distance—a spinning tornado of smoke that formed into a long funnel, stretching out until he could see neither the top nor the bottom of the white whirlwind. He felt the gales then, sucking into the cyclone so that it blew past him from behind, ripping at his clothes and hair like they were shredded flags caught in a storm. The tower of thick mist began to move toward him—or he was moving toward it, he couldn’t tell—increasing its speed at an alarming rate. Where seconds before he’d been able to see the distinct form of the funnel, he now could see only a flat expanse of white. And then it consumed him; he felt his mind taken by the mist, felt memories flood into his thoughts. Everything else turned into pain.

Heat is lost at the surface, so the more surface area you have relative to volume, the harder you must work to stay warm. That means that little creatures have to produce heat more rapidly than large creatures. They must therefore lead completely different lifestyles. An elephant’s heart beats just thirty times a minute, a human’s sixty, a cow’s between fifty and eighty, but a mouse’s beats six hundred times a minute—ten times a second. Every day, just to survive, the mouse must eat about 50 percent of its own body weight. We humans, by contrast, need to consume only about 2 percent of our body weight to supply our energy requirements. One area where animals are curiously—almost eerily—uniform is with the number of heartbeats they have in a lifetime. Despite the vast differences in heart rates, nearly all animals have about 800 million heartbeats in them if they live an average life. The exception is humans. We pass 800 million heartbeats after twenty-five years, and just keep on going for another fifty years and 1.6 billion heartbeats or so. It is tempting to attribute this exceptional vigor to some innate superiority on our part, but in fact it is only over the last ten or twelve generations that we have deviated from the standard mammalian pattern thanks to improvements in our life expectancy. For most of our history, 800 million beats per lifetime was about the human average, too.

The daily consumption in South Korea, which has a fairly meat-heavy diet, is about 3,070 calories per person per day, slightly above the world average. However, the obesity rate there is only about 3 percent. The Pacific island nation of Nauru, by contrast, consumes about as many calories as South Korea per day,6 but the obsesity rate there is 79 percent.

The second was the chapter in Roger Penrose’s book The Emperor’s New Mind in which he discusses entropy. He points out that there’s a sense in which it’s incorrect to say we eat food because we need the energy it contains. The conservation of energy means that it is neither created nor destroyed; we are radiating energy constantly, at pretty much the same rate that we absorb it. The difference is that the heat energy we radiate is a high-entropy form of energy, meaning it’s disordered. The chemical energy we absorb is a low-entropy form of energy, meaning it’s ordered. In effect, we are consuming order and generating disorder; we live by increasing the disorder of the universe. It’s only because the universe started in a highly ordered state that we are able to exist at all.

Perhaps the creeping effort to restrict civil liberties wouldn’t have brought people into the streets, at least not immediately. But Allende’s economic programs hit them directly. His announced policy of “first consumption, then accumulation” was an economic disaster waiting to happen. In 1971, the inflation rate was 20 percent, kept somewhat in check by the expenditure of the government’s foreign reserves, but in 1972, with the government spending lavishly to support its social and economic policies, it jumped to 78 percent, and in 1973 to an unprecedented 353 percent. No country in the world had a higher rate. Then the attempt to rein in prices through government controls led to shortages of basic consumer goods and the rise of black markets. People were waiting in line to buy toothpaste.

The ARM, Adjustable Rate Mortgage, was invented in the early 1980s. Prior to that, those of us in the real estate business sold fixed-rate 7 or 8 percent mortgages. What happened? I was there in the middle of that disaster of an economy when fixed-rate mortgages went as high as 17 percent and the real estate world froze. Lenders paid out 12 percent on CDs but had money loaned out at 7 percent on hundreds of millions of dollars in mortgages. They were losing money, and lenders don’t like to lose money. So the Adjustable Rate Mortgage was born, in which your interest rate goes up when the prevailing market interest rates go up. The ARM was born to transfer the risk of higher interest rates to you, the consumer. In the last several years, home mortgage rates have been at a thirty-year low. It is not wise to get something that adjusts when you are at the bottom of rates! The mythsayers always seem to want to add risk to your home, the one place you should want to make sure has stability. Balloon mortgages are even worse. Balloons pop, and it is always strange to me that the popping sound is so startling. Why don’t we expect it? It is in the very nature of balloons to pop. Wise financial people always move away from risk, and the balloon mortgage creates risk nightmares.

The law of cumulative growth is essentially identical to the law of cumulative returns, which says that an annual rate of return of a few percent, compounded over several decades, automatically results in a very large increase of the initial capital, provided that the return is constantly reinvested, or at a minimum that only a small portion of it is consumed by the owner of the capital (small in comparison with the growth rate of the society in question).

Americans consume more cow’s milk and its products per person than most populations in the world. So Americans should have wonderfully strong bones, right? Unfortunately not. A recent study showed that American women aged fifty and older have one of the highest rates of hip fractures in the world. 1 The only countries with higher rates are in Europe and in the south Pacific (Australia and New Zealand) 1 where they consume even more milk than the United States. What’s going on?

But if I tell them about dozens and dozens of studies showing that the countries with low rates of heart disease consume low amounts of animal-based foods, and dozens and dozens of studies showing that individuals who eat more whole, plant-based foods get less heart disease, and I go on to document still more studies showing that a diet low in animal-based foods and high in unprocessed plant-based foods can slow or reverse heart disease, then people are more inclined to pay some attention.

when Lord Shoreman and Mr. Worthing were dining with me, eight bottles of champagne are entered as having been consumed. Lane. Yes, sir; eight bottles and a pint. Algernon. Why is it that at a bachelor’s establishment the servants invariably drink the champagne? I ask merely for information. Lane. I attribute it to the superior quality of the wine, sir. I have often observed that in married households the champagne is rarely of a first-rate brand. Algernon. Good heavens! Is marriage so demoralising as that?

If a model did anything too obviously bizarre—flooded the Sahara or tripled interest rates—the programmers would revise the equations to bring the output back in line with expectation. In practice, econometric models proved dismally blind to what the future would bring, but many people who should have known better acted as though they believed in the results. Forecasts of economic growth or unemployment were put forward with an implied precision of two or three decimal places. Governments and financial institutions paid for such predictions and acted on them, perhaps out of necessity or for want of anything better. Presumably they knew that such variables as “consumer optimism” were not as nicely measurable as “humidity” and that the perfect differential equations had not yet been written for the movement of politics and fashion. But few realized how fragile was the very process of modeling flows on computers, even when the data was reasonably trustworthy and the laws were purely physical, as in weather forecasting.

older today, but did you age as well? If you drank a few cups of green tea, had five servings of fruits and vegetables, exercised for at least 30 minutes at your target heart rate, took nutritional supplements optimized for your age and health situation, spent quality time with close friends and loved ones, consumed a glass of red wine, had a romantic (and sensual!) time with your spouse or significant other, and got 8 hours of quality sleep, then you probably aged very little if at all. If you were a coach potato, ate

What is the actual link between material consumption and objective and subjective quality of life once the basic needs for food, clothes, shelter, and mobility are well satisfied? Going from material misery to modest material comfort will make many things in life better but, obviously, the link is not an endless escalator. But if so, where is the saturation point? Can such a level actually be quantified in a meaningful way? These questions must be asked even if there are no easy answers, mainly because of the situation that is the very opposite of the material poverty outlined at the beginning of this section: too many people live in the condition of material excess and this does not endow them with a higher physical quality of life than that enjoyed by moderate consumers and it does not make them exceptionally happy. At the most fundamental level, the question is about the very nature of modern economies. All but a tiny minority of economists (those of ecological persuasion) see the constant expansion of output as the fundamental goal. And not just any expansion: economies should preferably grow at annual rates in excess of 2%, better yet 3%. This is the only model, the only paradigm, and the only precept, as the economists in command of modern societies cannot envisage a system that would deliberately grow at a minimum rate, even less so one that would experience zero growth, and the idea of a carefully managed decline appears to them to be outright unimaginable. The pursuit of endless growth is, obviously, an unsustainable strategy (Binswanger, 2009), and the post-2008 experience has shown how dysfunctional modern economies become as soon as the growth becomes negligible, ceases temporarily or when there is even a slight decline: rising unemployment, falling labor participation, growing income inequality, and soaring budget deficits.

Again, while it is a great blessing that a man no longer has to be rich in order to enjoy the masterpieces of the past, for paperbacks, first-rate color reproductions, and stereo-phonograph records have made them available to all but the very poor, this ease of access, if misused — and we do misuse it — can become a curse. We are all of us tempted to read more books, look at more pictures, listen to more music than we can possibly absorb, and the result of such gluttony is not a cultured mind but a consuming one; what it reads, looks at, listens to is immediately forgotten, leaving no more traces behind than yesterday’s newspaper.

The most surprising discovery made by Baumeister’s group shows, as he puts it, that the idea of mental energy is more than a mere metaphor. The nervous system consumes more glucose than most other parts of the body, and effortful mental activity appears to be especially expensive in the currency of glucose. When you are actively involved in difficult cognitive reasoning or engaged in a task that requires self-control, your blood glucose level drops. The effect is analogous to a runner who draws down glucose stored in her muscles during a sprint. The bold implication of this idea is that the effects of ego depletion could be undone by ingesting glucose, and Baumeister and his colleagues have confirmed this hypothesis in several experiments. Volunteers in one of their studies watched a short silent film of a woman being interviewed and were asked to interpret her body language. While they were performing the task, a series of words crossed the screen in slow succession. The participants were specifically instructed to ignore the words, and if they found their attention drawn away they had to refocus their concentration on the woman’s behavior. This act of self-control was known to cause ego depletion. All the volunteers drank some lemonade before participating in a second task. The lemonade was sweetened with glucose for half of them and with Splenda for the others. Then all participants were given a task in which they needed to overcome an intuitive response to get the correct answer. Intuitive errors are normally much more frequent among ego-depleted people, and the drinkers of Splenda showed the expected depletion effect. On the other hand, the glucose drinkers were not depleted. Restoring the level of available sugar in the brain had prevented the deterioration of performance. It will take some time and much further research to establish whether the tasks that cause glucose-depletion also cause the momentary arousal that is reflected in increases of pupil size and heart rate.

Every year or so I like to take a step back and look at a few key advertising, marketing, and media facts just to gauge how far removed from reality we advertising experts have gotten. These data represent the latest numbers I could find. I have listed the sources below. So here we go -- 10 facts, direct from the real world: E-commerce in 2014 accounted for 6.5 percent of total retail sales. 96% of video viewing is currently done on a television. 4% is done on a web device. In Europe and the US, people would not care if 92% of brands disappeared. The rate of engagement among a brand's fans with a Facebook post is 7 in 10,000. For Twitter it is 3 in 10,000. Fewer than one standard banner ad in a thousand is clicked on. Over half the display ads paid for by marketers are unviewable. Less than 1% of retail buying is done on a mobile device. Only 44% of traffic on the web is human. One bot-net can generate 1 billion fraudulent digital ad impressions a day. Half of all U.S online advertising - $10 billion a year - may be lost to fraud. As regular readers know, one of our favorite sayings around The Ad Contrarian Social Club is a quote from Noble Prize winning physicist Richard Feynman, who wonderfully declared that “Science is the belief in the ignorance of experts.” I think these facts do a pretty good job of vindicating Feynman.

The black conservatives claim that the decline of values such as patience, deferred gratification, and self-reliance have resulted in the high crime rates, the increasing number of unwed mothers, and the relatively uncompetitive academic performances of black youth. And certainly these sad realities must be candidly confronted. But nowhere in their writings do the new black conservatives examine the pervasiveness of sexual and military images used by the mass media and deployed by the advertising industry in order to entice and titillate consumers. Black conservatives thus overlook the degree to which market forces of advanced capitalist processes thrive on sexual and military images.

Take one famous example: arguments about property destruction after Seattle. Most of these, I think, were really arguments about capitalism. Those who decried window-breaking did so mainly because they wished to appeal to middle-class consumers to move towards global exchange-style green consumerism, and to ally with labor bureaucracies and social democrats abroad. This was not a path designed to provoke a direct confrontation with capitalism, and most of those who urged us to take this route were at least skeptical about the possibility that capitalism could ever really be defeated. Many were in fact in favor of capitalism, if in a significantly humanized form. Those who did break windows, on the other hand, didn't care if they offended suburban homeowners, because they did not figure that suburban homeowners were likely to ever become a significant element in any future revolutionary anticapitalist coalition. They were trying, in effect, to hijack the media to send a message that the system was vulnerable -- hoping to inspire similar insurrectionary acts on the part of those who might be considering entering a genuinely revolutionary alliance; alienated teenagers, oppressed people of color, undocumented workers, rank-and-file laborers impatient with union bureaucrats, the homeless, the unemployed, the criminalized, the radically discontent. If a militant anticapitalist movement was to begin, in America, it would have to start with people like these: people who don't need to be convinced that the system is rotten, only, that there's something they can do about it. And at any rate, even if it were possible to have an anticapitalist revolution without gun-battles in the streets -- which most of us are hoping it is, since let's face it, if we come up against the US army, we will lose -- there's no possible way we could have an anticapitalist revolution while at the same time scrupulously respecting property rights. Yes, that will probably mean the suburban middle class will be the last to come on board. But they would probably be the last to come on board anyway.

about shape and style. A new era truly has dawned, was the feeling those cars gave you. At some point in that decade, American society changed abruptly in tone and mentality. Instead of being preoccupied above all with survival, it became a consumer society. A world of toil was transformed into a world of enjoyment. Domestic interiors were still full of things from the 1930s and 1940s, but amid the brown furniture and crocheted rugs a different lifestyle was emerging, with all the features of the old austerity but a cheerful sense of amazement as well. ‘What sort of fairyland is this we suddenly find ourselves in?’ was the general mood. These were the years of what became known as the ‘baby boom’. The birth rate shot up by

At the other extreme, the consumption tax rate should be very, very high for any products that impose massive negative externalities. Consider handgun ammunition. Currently, one can buy five hundred rounds of 9 mm ammunition for about $110 from online U.S. retailers—about twenty-two cents each. But each round of ammunition has a slight chance of falling into the wrong hands and killing someone. How slight? About 10 billion rounds are sold per year in the United States. There are about thirty thousand gun-related deaths in the United States per year (including suicides, homicides, and accidents). Assuming the typical gun death involves one round of ammo, the chance that any given round will end up killing someone is about thirty thousand divided by 10 billion, or three per million. Now, a person’s life is generally reckoned to be worth about $3 million, according to the usual cost-benefit-risk analyses by highway engineers, airlines, and hospitals. If each bullet has a three per million chance of negating a $3 million life, then that bullet imposes an expected average cost on society of $9. That’s about forty times its conventional retail cost of $0.22, so, by my reasoning, it should be subject to a consumption tax rate of 4,000 percent. This is obviously a rough calculation; it ignores the injury costs of nonlethal shootings (which would increase the tax) and the crime-deterrence effects, if any, of citizens having ammo (which would decrease the tax).

Numerous lawyers, consultants, and accountants have told me that when a client has treated them badly, they avoid working for them again unless they are desperate, and when they must, they often charge higher rates to make themselves feel better and because assholes consume extra time and emotional energy. A European consultant explained his firm’s evidence-based ‘asshole pricing’ in a comment on my blog: We’ve therefore abandoned the old pricing altogether and simply have a list of difficult customers who get charged more. Before The No Asshole Rule became widely known, we were calling this Asshole Pricing. It isn’t just a tax, a surcharge on the regular price; the entirety of the price quoted is driven by Asshole considerations.

The painful fact that the poor end up paying more than the rich for many goods and services has a very simple and systemic explanation. It generally costs more to provide goods and services in low-income neighborhoods. For example, insurance and security costs are often higher in poor neighborhoods due to high crime and vandalism rates. This is a factor frequently forgotten by those who look to personal intentions for an explanation for this phenomenon. For example, a shopping center within a populous neighborhood of a midtown city spent 15 percent more on security guards and night lighting than a shopping complex within a residential area of ​​the same city. All these costs are passed on to the consumer in the form of higher prices.

Moore’s law means computers will get smaller, more powerful, and cheaper at a reliable rate. This does not happen because Moore’s law is a natural law of the physical world, like gravity, or the Second Law of Thermodynamics. It happens because the consumer and business markets motivate computer chip makers to compete and contribute to smaller, faster, cheaper computers, smart phones, cameras, printers, solar arrays, and soon, 3-D printers. And chip makers are building on the technologies and techniques of the past. In 1971, 2,300 transistors could be printed on a chip. Forty years, or twenty doublings later, 2,600,000,000. And with those transistors, more than two million of which could fit on the period at the end of this sentence, came increased speed.

A well-conditioned oarsman or oarswoman competing at the highest levels must be able to take in and consume as much as eight liters of oxygen per minute; an average male is capable of taking in roughly four to five liters at most. Pound for pound, Olympic oarsmen may take in and process as much oxygen as a thoroughbred racehorse. This extraordinary rate of oxygen intake is of only so much value, it should be noted. While 75–80 percent of the energy a rower produces in a two-thousand-meter race is aerobic energy fueled by oxygen, races always begin, and usually end, with hard sprints. These sprints require levels of energy production that far exceed the body’s capacity to produce aerobic energy, regardless of oxygen intake. Instead the body must immediately produce

5Our standard of living, our very survival here, is based upon raw exploitation of working-class women - white black, and third world - in all parts of the world. Our hands are not clean. We must also come to terms with the that still largely unexamined, undisclosed faith in the idea of America, that no matter how unbearable it is here, it is better than anywhere else; that's slippage between third world and third rate. We eat bananas. Buy flowers. Use salt to flavour our food. Drink sweetened coffee. Use tires for the cars we drive. Depend upon state-of-the-art electronics. Travel. We consume and rely upon multiple choice to reify consumption. All those things that give material weight to idea of America - conflating capitalism and democracy, demarcating 'us' from 'them'.

Place an ice pack on the back of the neck or upper trapezius area for 20–30 minutes, preferably in the evening, when insulin sensitivity is lowest. I place a towel on the couch while writing or watching a movie and simply lean back against the ice pack. 2. Consume, as Ray did, at least 500 milliliters of ice water on an empty stomach immediately upon waking. In at least two studies, this water consumption has been shown to increase resting metabolic rate 24–30%, peaking at 40–60 minutes post-consumption, though one study demonstrated a lower effect of 4.5%. Eat breakfast 20–30 minutes later à la the Slow-Carb Diet detailed in earlier chapters. 3. Take 5–10-minute cold showers before breakfast and/or before bed. Use hot water for 1–2 minutes over the entire body, then step out of water range and apply

Because I came to see That I should never have been a first-rate potter. I didn't have it in me. It's strange, isn't it, That a man should have a consuming passion To do something for which he lacks the capacity? Could a man be said to have a vocation To be a second-rate potter? To be, at best, A competent copier, possessed by the craving To create, when one is wholly uncreative? I don't think so. For I came to see, That I had always known, at the secret moments, That I didn't have it in me. There are occasions When I am transported- a different person, Transfigured in the vision of some marvellous creation, And I feel what the man must have felt when he made it. But nothing I made ever gave me that contentment- That state of utter exhaustion and peace Which comes in dying to give something life...

The stiffer sentencing policies for drug crimes—not a net increase in crime—caused the American prison population to quadruple between 1980 and 2000. While violent criminals typically account for about half of the prison population at any given time, more people were incarcerated for drug crimes than violent crimes every year from 1993 to 2009. White people are more likely than Black and Latinx people to sell drugs, and the races consume drugs at similar rates. Yet African Americans are far more likely than Whites to be jailed for drug offenses. Nonviolent Black drug offenders remain in prisons for about the same length of time (58.7 months) as violent White criminals (61.7 months). In 2016, Black and Latinx people were still grossly overrepresented in the prison population at 56 percent, double their percentage of the U.S. adult population.

Inefficiency. A centralized financial system has many inefficiencies. Perhaps the most egregious example is the credit card interchange rate that causes consumers and small businesses to lose up to 3 percent of a transaction's value with every swipe due to the payment network oligopoly's pricing power. Remittance fees are 5–7 percent. Time is also wasted in the two days it takes to “settle” a stock transaction (officially transfer ownership). In the Internet age, this seems utterly implausible. Other inefficiencies include costly (and slow) transfer of funds, direct and indirect brokerage fees, lack of security, and the inability to conduct microtransactions, many of which are not obvious to users. In the current banking system, deposit interest rates remain very low and loan rates high because banks need to cover their brick-and-mortar costs. The insurance industry provides another example.

The weather has been strange in Japan this summer. The Rainey season, which usually winds down in the beginning of July, continued until the end of the month. It rained so much I got sick of it. There were torrential rains in parts of the country and a lot of people died. They say it’s all because of Global Warming. Maybe it is and maybe it isn’t. Some experts claim it is, some claim it isn’t. There’s some proof that it is, some that it isn’t. But still people say that most of the problems the earth is facing are more or less due to Global Warming. When sales of apparel go down, when tons of drift wood wash up on the shore, when there are floods and droughts, when consumer prices go up—Most of the fault is ascribed to Global Warming. What the world needs is a set villain that people can point at and say, “It’s all your fault.” At any rate, due to this villain that can’t be dealt with, it went on raining and I could hardly practice biking at all during July. It’s not my fault, it’s that villain’s.

Much of the so-called environmental movement today has transmuted into an aggressively nefarious and primitive faction. In the last fifteen years, many of the tenets of utopian statism have coalesced around something called the “degrowth” movement. Originating in Europe but now taking a firm hold in the United States, the “degrowthers,” as I shall characterize them, include in their ranks none other than President Barack Obama. On January 17, 2008, Obama made clear his hostility toward, of all things, electricity generated from coal and coal-powered plants. He told the San Francisco Chronicle, “You know, when I was asked earlier about the issue of coal . . . under my plan of a cap and trade system, electricity rates would necessarily skyrocket. . . .”3 Obama added, “. . . So if somebody wants to build a coal-powered plant, they can. It’s just that it will bankrupt them because they’re going to be charged a huge sum for all the greenhouse gas that’s being emitted.”4 Degrowthers define their agenda as follows: “Sustainable degrowth is a downscaling of production and consumption that increases human well-being and enhances ecological conditions and equity on the planet. It calls for a future where societies live within their ecological means, with open localized economies and resources more equally distributed through new forms of democratic institutions.”5 It “is an essential economic strategy to pursue in overdeveloped countries like the United States—for the well-being of the planet, of underdeveloped populations, and yes, even of the sick, stressed, and overweight ‘consumer’ populations of overdeveloped countries.”6 For its proponents and adherents, degrowth has quickly developed into a pseudo-religion and public-policy obsession. In fact, the degrowthers insist their ideology reaches far beyond the environment or even its odium for capitalism and is an all-encompassing lifestyle and governing philosophy. Some of its leading advocates argue that “Degrowth is not just an economic concept. We shall show that it is a frame constituted by a large array of concerns, goals, strategies and actions. As a result, degrowth has now become a confluence point where streams of critical ideas and political action converge.”7 Degrowth is “an interpretative frame for a social movement, understood as the mechanism through which actors engage in a collective action.”8 The degrowthers seek to eliminate carbon sources of energy and redistribute wealth according to terms they consider equitable. They reject the traditional economic reality that acknowledges growth as improving living conditions generally but especially for the impoverished. They embrace the notions of “less competition, large scale redistribution, sharing and reduction of excessive incomes and wealth.”9 Degrowthers want to engage in polices that will set “a maximum income, or maximum wealth, to weaken envy as a motor of consumerism, and opening borders (“no-border”) to reduce means to keep inequality between rich and poor countries.”10 And they demand reparations by supporting a “concept of ecological debt, or the demand that the Global North pays for past and present colonial exploitation in the Global South.”11

Darwin and Nietzsche were the common spiritual and intellectual source for the mean-spirited and bellicose ideological assault on progress, liberalism, and democracy that fired the late-nineteenth-century campaign to preserve or rejuvenate the traditional order. Presensitized for this retreat from modernity, prominent fin-de-siècle aesthetes, engages literati, polemical publicists, academic sociologists, and last but not least, conservative and reactionary politicians became both consumers and disseminators of the untried action-ideas. Oscar Wilde and Stefan George were perhaps most representative of the aristocratizing aesthetes whose rush into dandyism or retreat into cultural monasticism was part of the outburst against bourgeois philistinism and social levelling. Their yearning for a return to an aristocratic past and their aversion to the invasive democracy of their day were shared by Thomas Mann and Hugo von Hofmannsthal, whose nostalgia for the presumably superior sensibilities of a bygone cultivated society was part of their claim to privileged social space and position in the present. Although they were all of burgher or bourgeois descent, they extolled ultra-patrician values and poses, thereby reflecting and advancing the rediscovery and reaffirmation of the merits and necessities of elitism. Theirs was not simply an aesthetic and unpolitical posture precisely because they knowingly contributed to the exaltation of societal hierarchy at a time when this exaltation was being used to do battle against both liberty and equality. At any rate, they may be said to have condoned this partisan attack by not explicitly distancing themselves from it. Maurice Barrès, Paul Bourget, and Gabriele D'Annunzio were not nearly so self-effacing. They were not only conspicuous and active militants of antidemocratic elitism, but they meant their literary works to convert the reader to their strident persuasion. Their polemical statements and their novels promoted the cult of the superior self and nation, in which the Church performed the holy sacraments. Barrès, Bourget, and D'Annunzio were purposeful practitioners of the irruptive politics of nostalgia that called for the restoration of enlightened absolutism, hierarchical society. and elite culture in the energizing fires of war.

Oh, were we talking about dinner? Well, let me say this: I don’t take it lightly if when I write the word beef someone chooses to read lamb. People talking about a book as if it were just another thing, like a dish, or a product like an electronic device or a pair of shoes, to be rated for consumer satisfaction—that was just the goddamn trouble, you said. Even those aspiring writers your students seemed never to judge a book on how well it fulfilled the author’s intentions but solely on whether it was the kind of book that they liked. And so you got papers stating things like “I hate Joyce, he’s so full of himself,” or “I don’t see why I should have to read about white people problems.” You got customer reviews full of umbrage, suggesting that if a book didn’t affirm what the reader already felt—what they could identify with, what they could relate to—the author had no business writing the book at all. Those hilarious stories that people loved, and loved to share—the book clubber who said, When I read a novel I want someone to die in it; the complaint against Anne Frank’s diary, in which nothing much happens and then the story just breaks off—did not make you laugh.

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A few years ago my friend Jon Brooks supplied this great illustration of skewed interpretation at work. Here’s how investors react to events when they’re feeling good about life (which usually means the market has been rising): Strong data: economy strengthening—stocks rally Weak data: Fed likely to ease—stocks rally Data as expected: low volatility—stocks rally Banks make $4 billion: business conditions favorable—stocks rally Banks lose $4 billion: bad news out of the way—stocks rally Oil spikes: growing global economy contributing to demand—stocks rally Oil drops: more purchasing power for the consumer—stocks rally Dollar plunges: great for exporters—stocks rally Dollar strengthens: great for companies that buy from abroad—stocks rally Inflation spikes: will cause assets to appreciate—stocks rally Inflation drops: improves quality of earnings—stocks rally Of course, the same behavior also applies in the opposite direction. When psychology is negative and markets have been falling for a while, everything is capable of being interpreted negatively. Strong economic data is seen as likely to make the Fed withdraw stimulus by raising interest rates, and weak data is taken to mean companies will have trouble meeting earnings forecasts. In other words, it’s not the data or events; it’s the interpretation. And that fluctuates with swings in psychology.

Just as calories differ according to how they affect the body, so too do carbohydrates. All carbohydrates break down into sugar, but the rate at which this occurs in the digestive tract varies tremendously from food to food. This difference forms the basis for the glycemic index (GI). The GI ranks carbohydrate-containing foods according to how they affect blood glucose, from 0 (no affect at all) to 100 (equal to glucose). Gram for gram, most starchy foods raise blood glucose to very high levels and therefore have high GI values. In fact, highly processed grain products – like white bread, white rice, and prepared breakfast cereals – and the modern white potato digest so quickly that their GI ratings are even greater than table sugar (sucrose). So for breakfast, you could have a bowl of cornflakes with no added sugar, or a bowl of sugar with no added cornflakes. They would taste different but, below the neck, act more or less the same. A related concept is the glycemic load (GL), which accounts for the different carbohydrate content of foods typically consumed. Watermelon has a high GI, but relatively little carbohydrate in a standard serving, producing a moderate GL. In contrast, white potato has a high GI and lots of carbohydrate in a serving, producing a high GL. If this sounds a bit complicated, think of GI as describing how foods rank in a laboratory setting, whereas GL as applying more directly to a real-life setting. Research has shown that the GL reliably predicts, to within about 90 percent, how blood glucose will change after an actual meal – much better than simply counting carbohydrates as people with diabetes have been taught to do.

Keynesian argument that wage earners consume a greater proportion of their income than landlords or entrepreneurs, and therefore that a decreased total wage bill is a calamity because consumption will decline and savings increase. In the first place, this is not always accurate. It assumes (1) that the laborers are the relatively “poor” and the nonlaborers the relative “rich,” and (2) that the poor consume a greater proportion of their income than the rich. The first assumption is not necessarily correct. The President of General Motors is, after all, a “laborer,” and so also is Mickey Mantle; on the other hand, there are a great many poor landlords, farmers, and retailers. Manipulating relations between wage earners and others is a very clumsy and ineffective way of manipulating relations between poor and rich (provided we desire any manipulation at all). The second assumption is often, but not necessarily, true, as we have seen above. As we have also seen, however, the empirical study of Lubell indicates that a redistribution of income between rich and poor may not appreciably affect the social consumption–saving proportions. But suppose that all these objections are waved aside for the moment, and we concede for the sake of argument that a fall in total payroll will shift the social proportion against consumption and in favor of saving. What then? But this is precisely an effect that we should highly prize. For, as we have seen, any shift in social time preferences in favor of saving and against consumption will speed the advent of recovery, and decrease the need for a lengthy period of depression readjustment. Any such shift from consumption to savings will foster recovery. To the extent that this dreaded fall in consumption does result from a cut in wage rates, then, the depression will be cured that much more rapidly.

a young Goldman Sachs banker named Joseph Park was sitting in his apartment, frustrated at the effort required to get access to entertainment. Why should he trek all the way to Blockbuster to rent a movie? He should just be able to open a website, pick out a movie, and have it delivered to his door. Despite raising around $250 million, Kozmo, the company Park founded, went bankrupt in 2001. His biggest mistake was making a brash promise for one-hour delivery of virtually anything, and investing in building national operations to support growth that never happened. One study of over three thousand startups indicates that roughly three out of every four fail because of premature scaling—making investments that the market isn’t yet ready to support. Had Park proceeded more slowly, he might have noticed that with the current technology available, one-hour delivery was an impractical and low-margin business. There was, however, a tremendous demand for online movie rentals. Netflix was just then getting off the ground, and Kozmo might have been able to compete in the area of mail-order rentals and then online movie streaming. Later, he might have been able to capitalize on technological changes that made it possible for Instacart to build a logistics operation that made one-hour grocery delivery scalable and profitable. Since the market is more defined when settlers enter, they can focus on providing superior quality instead of deliberating about what to offer in the first place. “Wouldn’t you rather be second or third and see how the guy in first did, and then . . . improve it?” Malcolm Gladwell asked in an interview. “When ideas get really complicated, and when the world gets complicated, it’s foolish to think the person who’s first can work it all out,” Gladwell remarked. “Most good things, it takes a long time to figure them out.”* Second, there’s reason to believe that the kinds of people who choose to be late movers may be better suited to succeed. Risk seekers are drawn to being first, and they’re prone to making impulsive decisions. Meanwhile, more risk-averse entrepreneurs watch from the sidelines, waiting for the right opportunity and balancing their risk portfolios before entering. In a study of software startups, strategy researchers Elizabeth Pontikes and William Barnett find that when entrepreneurs rush to follow the crowd into hyped markets, their startups are less likely to survive and grow. When entrepreneurs wait for the market to cool down, they have higher odds of success: “Nonconformists . . . that buck the trend are most likely to stay in the market, receive funding, and ultimately go public.” Third, along with being less recklessly ambitious, settlers can improve upon competitors’ technology to make products better. When you’re the first to market, you have to make all the mistakes yourself. Meanwhile, settlers can watch and learn from your errors. “Moving first is a tactic, not a goal,” Peter Thiel writes in Zero to One; “being the first mover doesn’t do you any good if someone else comes along and unseats you.” Fourth, whereas pioneers tend to get stuck in their early offerings, settlers can observe market changes and shifting consumer tastes and adjust accordingly. In a study of the U.S. automobile industry over nearly a century, pioneers had lower survival rates because they struggled to establish legitimacy, developed routines that didn’t fit the market, and became obsolete as consumer needs clarified. Settlers also have the luxury of waiting for the market to be ready. When Warby Parker launched, e-commerce companies had been thriving for more than a decade, though other companies had tried selling glasses online with little success. “There’s no way it would have worked before,” Neil Blumenthal tells me. “We had to wait for Amazon, Zappos, and Blue Nile to get people comfortable buying products they typically wouldn’t order online.

Raging storm. The universe booms around me. She approaches. Frightfully, I stand. Yes. Stuck. Stuck in wonderment. Something so strong, so beautiful. Swirling around me. Will it absorb me? Maybe. Or might it pass by? It could. Rolling waves of rage and chaos. Cracks of thunder echo in my chest. I am in the storm now. How? Dancing in the wind. In her chaos. Can I become a part of her forever? I must be able to. This feeling, so wonderful. Maybe she will only pass me by. Leave me to fall from the sky? I hope not. This raging storm around me. So dangerous. So pure. Nothing but nature in her utter glory. Pushing me into motion. I spin in the midst of her, taking in the power. The walls of motion. Confusion surrounds me. Particles forcing together and cracking apart. I’m frightful again, the noise overpowering me. I hunch into a ball, scared of what will become of me. Still suspended in the air. But she silences. The sky clears around me. It must be the eye of the storm. The center of everything. The center of her. Yes. The sunshine blinds me. I raise my hand to shield my face. The silence a melody in my ear. Ah, finally soothed. How extraordinary this is, floating and rising. It overcomes me. This space. Joy? But then I feel the air shift. The power making my hair rise. And suddenly, I’m moving again. She moves along. This raging, rolling storm. The air sucking me up and down. Ripping me apart. Spinning. Spinning. Spinning. Fear consumes me again as the storm takes hold. Confusion. So much confusion. I cry, thinking I might die. But it’s over. I look at my hands. My feet. Back on the ground. She rolls away. Spinning beautifully onward. My, the power. But the question. Always the question. Do I love? Do I hate? Her beautiful, frightening glory. My dear raging storm. I drop the note into my lap. My hand comes up, covering my mouth in shock. I blink down at the note, trying to slow down my heart rate. Because Noah wrote this. He wrote all of this. And he wrote it about me. About how I make him feel. I think back to his project. How he told me it was about me. The eye of the storm. Chaos. Confusion. Awe.

I am assured that this is a true story. A man calls up his computer helpline complaining that the cupholder on his personal computer has snapped off, and he wants to know how to get it fixed. “Cupholder?” says the computer helpline person, puzzled. “I’m sorry, sir, but I’m confused. Did you buy this cupholder at a computer show or receive it as a special promotion?” “No, it came as part of the standard equipment on my computer.” “But our computers don’t come with cupholders.” “Well, pardon me, friend, but they do,” says the man a little hotly. “I’m looking at mine right now. You push a button on the base of the unit and it slides right out.” The man, it transpired, had been using the CD drawer on his computer to hold his coffee cup. I bring this up here by way of introducing our topic this week: cupholders. Cupholders are taking over the world. It would be almost impossible to exaggerate the importance of cupholders in automotive circles these days. The New York Times recently ran a long article in which it tested a dozen family cars. It rated each of them for ten important features, among them engine size, trunk space, handling, quality of suspension, and, yes, number of cupholders. A car dealer acquaintance of ours tells us that they are one of the first things people remark on, ask about, or play with when they come to look at a car. People buy cars on the basis of cupholders. Nearly all car advertisements note the number of cupholders prominently in the text. Some cars, like the newest model of the Dodge Caravan, come with as many as seventeen cupholders. The largest Caravan holds seven passengers. Now you don’t have to be a nuclear physicist, or even wide awake, to work out that that is 2.43 cupholders per passenger. Why, you may reasonably wonder, would each passenger in a vehicle need 2.43 cupholders? Good question. Americans, it is true, consume positively staggering volumes of fluids. One of our local gas stations, I am reliably informed, sells a flavored confection called a Slurpee in containers up to 60 ounces in size. But even if every member of the family had a Slurpee and a personal bottle of

In opting for large scale, Korean state planners got much of what they bargained for. Korean companies today compete globally with the Americans and Japanese in highly capital-intensive sectors like semiconductors, aerospace, consumer electronics, and automobiles, where they are far ahead of most Taiwanese or Hong Kong companies. Unlike Southeast Asia, the Koreans have moved into these sectors not primarily through joint ventures where the foreign partner has provided a turnkey assembly plant but through their own indigenous organizations. So successful have the Koreans been that many Japanese companies feel relentlessly dogged by Korean competitors in areas like semiconductors and steel. The chief advantage that large-scale chaebol organizations would appear to provide is the ability of the group to enter new industries and to ramp up to efficient production quickly through the exploitation of economies of scope.70 Does this mean, then, that cultural factors like social capital and spontaneous sociability are not, in the end, all that important, since a state can intervene to fill the gap left by culture? The answer is no, for several reasons. In the first place, not every state is culturally competent to run as effective an industrial policy as Korea is. The massive subsidies and benefits handed out to Korean corporations over the years could instead have led to enormous abuse, corruption, and misallocation of investment funds. Had President Park and his economic bureaucrats been subject to political pressures to do what was expedient rather than what they believed was economically beneficial, if they had not been as export oriented, or if they had simply been more consumption oriented and corrupt, Korea today would probably look much more like the Philippines. The Korean economic and political scene was in fact closer to that of the Philippines under Syngman Rhee in the 1950s. Park Chung Hee, for all his faults, led a disciplined and spartan personal lifestyle and had a clear vision of where he wanted the country to go economically. He played favorites and tolerated a considerable degree of corruption, but all within reasonable bounds by the standards of other developing countries. He did not waste money personally and kept the business elite from putting their resources into Swiss villas and long vacations on the Riviera.71 Park was a dictator who established a nasty authoritarian political system, but as an economic leader he did much better. The same power over the economy in different hands could have led to disaster. There are other economic drawbacks to state promotion of large-scale industry. The most common critique made by market-oriented economists is that because the investment was government rather than market driven, South Korea has acquired a series of white elephant industries such as shipbuilding, petrochemicals, and heavy manufacturing. In an age that rewards downsizing and nimbleness, the Koreans have created a series of centralized and inflexible corporations that will gradually lose their low-wage competitive edge. Some cite Taiwan’s somewhat higher overall rate of economic growth in the postwar period as evidence of the superior efficiency of a smaller, more competitive industrial structure.

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Since the mass of the employed living labour is continually on the decline as compared to the mass of materialised labour set in motion by it, i.e., to the productively consumed means of production, it follows that the portion of living labour, unpaid and congealed in surplus-value, must also be continually on the decrease compared to the amount of value represented by the invested total capital. Since the ratio of the mass of surplus-value to the value of the invested total capital forms the rate of profit, this rate must constantly fall.

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The unemployment rate rose between 1968 and 1970 from 3.6 to 4.9 percent—a jump of more than 33 percent. The consumer price index increased by roughly 11 percent in the same period. Analysts of the economy coined a new and memorable term for what seemed to be happening: "stagflation.

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After months of calling for inflation of housing prices, Krugman in 2002 came right out and said the Fed needed to create a housing bubble. Since 2007, Krugman has repeatedly and angrily denied that was what he was saying, so let me run his comments in their full context: A few months ago the vast majority of business economists mocked concerns about a “double dip,” a second leg to the downturn. But there were a few dogged iconoclasts out there, most notably Stephen Roach at Morgan Stanley. As I’ve repeatedly said in this column, the arguments of the double-dippers made a lot of sense. And their story now looks more plausible than ever. The basic point is that the recession of 2001 wasn’t a typical postwar slump, brought on when an inflation-fighting Fed raises interest rates and easily ended by a snapback in housing and consumer spending when the Fed brings rates back down again. This was a prewar-style recession, a morning after brought on by irrational exuberance. To fight this recession the Fed needs more than a snapback; it needs soaring household spending to offset moribund business investment. And to do that, as Paul McCulley of Pimco put it, Alan Greenspan needs to create a housing bubble to replace the Nasdaq bubble.6 Well, Krugman got exactly what he wanted.

The people who consumed the most lutein, a specific type of antioxidant, had one-half the rate of cataracts as the people who consumed the least lutein. Lutein is an interesting chemical because, in addition to being readily available in spinach, along with other dark leafy green vegetables, it also is an integral part of the lens tissue itself. 49,50 Similarly, those who consumed the most spinach had 40% fewer cataracts.

A part of the problem is that overconsumption of sugar seems to alter our taste buds. As they become used to it, our bodies crave more and more. One illuminating 2016 study compared two groups of people who, initially, were consuming the same amount of sugar. One group was put on a low-sugar diet whilst the other group continued on their existing one. The group consuming a low-sugar diet rated the same dessert as sweeter than the group who had not reduced their sugar intake. As every month passed, they rated it as more and more sweet. This is further evidence that reducing your intake of sugar changes your sense of taste.

Do you feel any guilt or remorse for the livestock you consume? Have you ever thought about how those animals become the food you eat? ...Your reaction isn't very rational. If you don't like the things you saw just now, I'm afraid you're missing the big picture. Humans chose livestock to be food. In exchange, they're fed, allowed to reproduce and protected from predators all their lives. Cows, pigs, and chickens have a much higher rate of survival in captivity, more than they would in the wild. So you see, the relationship is mutually beneficial for both parties.

In the social dilemma of the tragic commons, popularised by Garrett Hardin (1968),[51] a group of famers has access to a common grassed area upon which to sustain their individually owned herds of sheep. Each farmer, being rational, wishes to keep as many sheep as possible on the commons in order to make more money – the sheep being a mechanism for converting common property (grass) into individual wealth. However, if the grass is consumed faster than the rate at which it grows (because the number of sheep is unsustainable) the farmers are collectively disadvantaged. The dilemma is that a farmer who adds extra sheep to the commons receives all of the profit, while the cost of doing so is distributed to the group. Each farmer, therefore, has an individual incentive to increase their use of the land even though doing so reduces the productivity of the land, and affects them all adversely. The selfish, though rational, short-term individual preferences of the farmers undermine their longer-term individual interests. Furthermore, the agential behaviour of the farmers creates structural barriers to collective reform because once one farmer overuses the common resource without being punished the action becomes legitimised. The rational behaviour of individuals can thus create collective irrationality. Solving this collective-action problem is typically understood to require either the conversion of the common resource into privately owned property (the exploitation of which is, therefore, regulated by the private owners because they have incentives to maintain its productivity), or through the creation of a public authority that is capable of regulating the amount of the common resource available to an individual.[52] But there is also another option: that the farmers lobby wealthy landowners from the neighbouring village to give them more land and more grass and thus prevent an outbreak of violence between the famers that may affect those beyond the borders of the commons.

Do you really expect me to believe that? Because I don’t. And damn it, you were with me the next night!” She wanted to throw her phone she was so pissed, but she managed to calm herself down. “I have to admit that your success rate speaks for itself. You got me good. Two separate times. I’d give you a trophy, but in my current mood, I’d put it up your ass, and I am not going to jail for felony assault with this year’s Best Lying Sack of Shit award.” “You got this all wrong.

Allowing the momentary hijacking of our sense of self by random acts of fear or hate—call it guerrilla racism—is bad for us. Literally. The high rates of hypertension, stroke, and heart disease among African-American males bear brutal witness to the problem. Do not volunteer yourself as a casualty. Let those with the illness, those who caricature and misrepresent you, be the ones consumed.

Or look at some relevant data from two very different peoples: black South Africans and Canadian Inuits. If dairy consumption prevents osteoporosis, the South Africans, who consume little dairy, should have epidemic levels of the disease. Actually, the reverse is true: The prevalence of osteoporosis-related diseases in black South Africans is among the lowest in the world. On the other hand, the Inuit have the highest dietary calcium intake of any people in the world, and they also show the highest osteoporosis rates in the world.

The countries that consume the most dairy products—those in Northern Europe along with the United States, New Zealand, and Australia—actually have the highest bone fracture rates. In fact, regions that consume the lowest amounts of dairy—eastern Asia and Africa—boast fracture rates 50 to 70 percent lower than we milk guzzlers.

In a study in Metabolism Journal, researchers found that a drop of 1 degree Celsius in body temperature would lower metabolic rate by 10–13 percent. Therefore, if you are consuming 2,000 calories (kcal) to maintain your weight and are running a cool 36 degrees C (97 degrees F) through the day, you have dropped your caloric expenditure by 10–13 percent, or 200–230 kcal/day.

If an eventual nine billion people all consumed materials at the rate of the average late-twentieth-century American, that would require an increase in worldwide steel production by a factor of five, copper by a factor of eight, and aluminum by a factor of nine.

One of the frequent attacks on the behavior of the free market is based on the Georgist bugbear of natural resources held off the market for speculative purposes. We have dealt with this alleged problem above. Another, and diametrically opposite, attack is the common one that the free market wastes resources, especially depletable resources. Future generations are allegedly robbed by the greed of the present. Such reasoning would lead to the paradoxical conclusion that noneof the resource be consumed at all. For whenever, at any time, a man consumes a depletable resource (here we use “consumes” in a broader sense to include “uses up” in production), he is leaving less of a stock for himself or his descendants to draw upon. It is a fact of life that wheneverany amount of a depletable resource is used up, less is left for the future, and therefore anysuch consumption could just as well be called “robbery of the future,” if one chooses to define robbery in such unusual terms. Once we grant any amount of use to the depletable resource, we have to discard the robbery-of-the-future argument and accept the individual preferences of the market. There is then no more reason to assume that the market will use the resources too fast than to assume the opposite. The market will tend to use resources at precisely the rate that the consumers desire.

A CHANGING SOCIETY What does today’s high incidence of social anxiety tell us about modern society? As we’ve seen, social anxiety is connected to a person’s drive for self-preservation and a feeling of safety. It is natural to withdraw from situations that we expect will lead to pain. Avoidance—while not necessarily healthy—is logical. Because the negative social experience of a growing number of people has caused them emotional pain and suffering, the number of individuals who choose to avoid socializing is increasing at an alarming rate. The sometimes wide distance among family members these days only adds to isolation. And the anonymity of large cities creates a vacuum in which many lonely people co-exist, often leading solitary lives in which they pursue their interests and activities alone. We live in a society in which social fears are perhaps not unjustified. As cities become denser, isolation seems to be the best way to counter urban decay. Consider the dangers of the outside world: Crime rates are soaring. Caution—and its companion, fear—are in the air. As the twentieth century draws to a close, we find ourselves in a society where meeting people can be difficult. These larger forces can combine to create a further sense of distance among people. Particularly significant is the change that has taken place as the social organization of the smaller-scale community gives way to that of the larger, increasingly fragmented city. In a “hometown” setting, the character of daily life is largely composed of face-to-face relations with friends, neighbors, co-workers, and family members. But in the hustle and bustle of today’s cities, whose urban sprawls extend to what author Joel Garreau has called Edge Cities—creating light industrial suburbs even larger than the cities they surround—the individual can get lost. It is common in these areas for people to focus solely on themselves, seldom getting to know their neighbors, and rarely living close to family. We may call these places home, but they are a far cry from the destination of that word as we knew it when we were children. Today’s cities are hotbeds of competition on all levels, from the professional to the social. It often seems as if only the most sophisticated “win.” To be ready for this constant challenge, you have to be able to manage in a stressful environment, relying on a whole repertoire of social skills just to stay afloat. This competitive environment can be terrifying for the socially anxious person. The 1980s were a consumer decade in which picture-perfect images on television and in magazines caused many of us to cast our lots with either the haves or the have-nots. Pressure to succeed grew to an all-time high. For those who felt they could not measure up, the challenge seemed daunting. I think the escalating crime rate in today’s urban centers—drugs, burglary, rape, and murder—ties into this trend and society’s response to the pressure. In looking at the forces that influence the social context of modern life, it is clear that feelings of frustration at not “making it” socially and financially are a component in many people’s choosing a life of crime. Interactive ability determines success in establishing a rewarding career, in experiencing relationships. Without these prospects, crime can appear to be a quick fix for a lifelong problem.

Before Congress instituted the federal income tax in 1913, following the passage of the Sixteenth Amendment to the Constitution, America’s tax burden fell disproportionately on the poor. High taxes were levied on widely consumed products such as alcohol and tobacco. Urban property was taxed at a higher rate than farms and estates. “From top to bottom, American society before the income tax was a picture of inequality, and taxes made it worse,” writes Isaac William Martin, a professor of sociology at the University of California in San Diego.

Populations that do not typically consume dairy products appear to exhibit lower rates of bone fracture despite consuming far less calcium than recommended.

On the daytime side of Earth, the solar radiation hitting the top fo the atmosphere deposits around 1,300 watts of power per square meter. That's about the same amount used by an electric kettle. It doesn't seem like a great deal. But add up that incoming solar radiation across one whole hemisphere of Earth, and a total of about 174 petawatts (10^15, or a quadrillion, watts) of solar power is hitting the top of the atmosphere. A colossal total of 89 petawatts of that same power is absorbed by the surface of the Earth directly. The rest is reflected by the surface, or absorbed by the atmosphere reflected by its clouds of condensed water. By human standards this is a fearsome amount of Energy. Estimates of current human energy consumption suggest that in a single year we use roughly 1.6 X 10^11 megawatt-hours, which means that with 8,760 hours in a year we are using energy at a rate of about 0.018 petawatts. All life on Earth (adding up photosynthetic organisms, water transpiration in plants, and what life gets from chemical and geophysical energy) is estimated to consume energy at a rate of between 0.1 and 5 petawatts. In other words, despite life's potent footpirnt on the planet, on a cosmic scale it's still barely sipping at what the Sun's photons rain down on us.

Car salesman turned governor. How it fried Dick Artemus to hear himself described like that--the snotty implication being that all car salesman were cagey and duplicitous, unworthy of holding public office. At first Dick Artemus had fought back, pridefully pointing out that his dealership sold only Toyotas, the most popular and reliable automobile on the face of the planet! A quality vehicle, he'd said. Top rated by all the important consumer magazines! But the governor's media advisers told him he sounded not only petty, but self-promotional, and that folks who loved their new Camry did not necessarily love the guy who'd sold it to them. The media advisers told Dick Artemus that the best thing he could do for his future political career was to make voters forget he'd ever been a car salesman (not that the Democrats would ever let them forget). Take the high road, the media advisers told him. Act gubernatorial.

We’re not Christians, we’re capitalists,” he said. “Everybody in this whangdanged country is a capitalist, whether he likes it or not. Everyone in this country is one of the world’s most voracious consumers, using resources at a rate twenty times greater than that of anyone else on this poor earth. And Christmas is our golden opportunity to pick up the pace.

The Quiet Revolution Detroit, 1979. U.S. auto companies were being threatened by foreign competition, and the Motor City became a symbol of American industrial decline. Chrysler would be subjected to its first (but not last) government bailout; the Ford Motor Co. was about to lose $1 billion for that fiscal year, and at least as much again in 1980; and GM’s profits were expected to plunge by a breathtaking $2.5 billion. Meanwhile, Japanese automakers were gaining market share; Toyota would soon surpass GM as the world’s largest car company. (A similar scenario played out in other industries too, especially consumer electronics and the copier industry.) Then, as now, the convenient scapegoat was the rank-and-file employees—in Detroit’s case, the unionized workers whose relatively high wages and ostensibly poor work ethic were initially blamed for the automakers’ problems. Only as Japanese wage rates reached parity with those in the United States and Japanese automakers began hiring American workers for their U.S. plants did some Detroit auto executives begin rethinking the narrative of blue-collar failure.

A similar dynamic comes into play when technologies like Google or even Amazon’s recommendation engine reduce search costs. Suddenly second-rate producers can no longer count on consumer ignorance or geographic barriers to protect their margins.

Basal metabolic rate for a lightly active average male is roughly 2500 calories per day. Walking at a moderate pace (2 miles per hour) for forty-five minutes every day, would burn roughly 104 calories. In other words, that will not even consume 5 per cent of the total energy expenditure. The vast majority (95 per cent) of calories are used for basal metabolism.

What had saved Ukraine is precisely what made the United States the most vulnerable nation on earth. Ukraine wasn’t fully automated. In the race to plug everything into the internet, the country was far behind. The tsunami known as the Internet of Things, which had consumed Americans for the better part of the past decade, had still not washed up in Ukraine. The nation’s nuclear stations, hospitals, chemical plants, oil refineries, gas and oil pipelines, factories, farms, cities, cars, traffic lights, homes, thermostats, lightbulbs, refrigerators, stoves, baby monitors, pacemakers, and insulin pumps were not yet “web-enabled.” In the United States, though, convenience was everything; it still is. We were plugging anything we could into the internet, at a rate of 127 devices a second. We had bought into Silicon Valley’s promise of a frictionless society. There wasn’t a single area of our lives that wasn’t touched by the web. We could now control our entire lives, economy, and grid via a remote web control. And we had never paused to think that, along the way, we were creating the world’s largest attack surface.

There are industry groups that are more sensitive to consumers’ spending than others and there are those which are most affected by interest rate fluctuations.

This story is not being told as much as it should be. In the late ’70s, the spread [or difference in interest rates] between mortgages at the consumer level and the 10-year US Treasury bond was about 450 basis points, or four and a half percent. Through securitization, we brought down that spread to about 150 basis points, or one and a half percent. When you think about the savings of America and the mechanism for home ownership, securitization was a foundational reason why more Americans were able to buy homes.III Changes to government-influenced underwriting characteristics, which first occurred in 2004, focused on having more people have home ownership and on reducing down payments. The result was that individuals with lower-quality credit would be able to get mortgages that previously would not have been available to them. These were typically called “subprime mortgages.” That led to the financial crisis. The structure of mortgage-backed securities remained strong and good and helpful for society. All good things, if not properly governed, can lead to bad outcomes. That’s what really happened.

the chapter in Roger Penrose’s book The Emperor’s New Mind in which he discusses entropy. He points out that there’s a sense in which it’s incorrect to say we eat food because we need the energy it contains. The conservation of energy means that it is neither created nor destroyed; we are radiating energy constantly, at pretty much the same rate that we absorb it. The difference is that the heat energy we radiate is a high-entropy form of energy, meaning it’s disordered. The chemical energy we absorb is a low-entropy form of energy, meaning it’s ordered. In effect, we are consuming order and generating disorder; we live by increasing the disorder of the universe. It’s only because the universe started in a highly ordered state that we are able to exist at all.

where a = accumulated future value, p = principal or present value, r = rate of return in percentage terms, and n = number of compounding periods. All too often, management teams focus on the r variable in this equation. They seek instant gratification, with high profit margins and high growth in reported earnings per share (EPS) in the near term, as opposed to initiatives that would lead to a much more valuable business many years down the line. This causes many management teams to pass on investments that would create long-term value but would cause “accounting numbers” to look bad in the short term. Pressure from analysts can inadvertently incentivize companies to make as much money as possible off their present customers to report good quarterly numbers, instead of offering a fair price that creates enduring goodwill and a long-term win–win relationship for all stakeholders. The businesses that buy commodities and sell brands and have strong pricing power (typically depicted by high gross margins) should always remember that possessing pricing power is like having access to a large amount of credit. You may have it in abundance, but you must use it sparingly. Having pricing power doesn’t mean you exercise it right away. Consumer surplus is a great strategy, especially for subscription-based business models in which management should primarily focus on habit formation and making renewals a no-brainer. Most businesses fail to appreciate this delicate trade-off between high short-term profitability and the longevity accorded to the business through disciplined pricing and offering great customer value. The few businesses that do understand this trade-off always display “pain today, gain tomorrow” thinking in their daily decisions.

The basic weakness with America’s railroad system was overbuilding, which forced the roads into endless rounds of rate cuts and wage cuts to service debt. At the same time, the massive power of their largest consumers—notably Rockefeller in oil and Carnegie in steel—forced them to grant preferential rebates to big shippers, enraging small western farmers and businessmen and stimulating calls for government regulation.

For instance, since state buyers of meat paid attention to quantity rather than quality, collective farmers maximized profits by producing fatter animals. Consumers might not care to eat fatty meat but that was their problem. Only a foolish or saintly farmer would work harder to produce better quality meat for the privilege of getting paid less. As in all countries, bureaucracy tended to become a self-feeding animal. Administrative personnel increased at a faster rate than productive workers. In some enterprises, administrative personnel made up half the full number of workers. A factory with 11,000 production workers might have an administrative staff of 5,000, a considerable burden on productivity.

Modern culture treats sex outside of marriagea as being no big deal. It’s considered completely normal and not something to be ashamed of; if anything, people brag about it and argue that it’s a positive good. It’s described as being a “casual” activity; something you can do with “no strings attached.” You can supposedly have meaningless “hookups,” “one-night stands,” or text your “friends with benefits” to set up a “booty call,” which is probably the most unromantic thing I can even think of. This idea that sex outside of marriage is OK is probably the biggest lie we are told, and the biggest source of our problems—not just in dating, but in all of life. I know that is a bold statement, but consider the evidence: after the so-called “sexual revolution” of the 1960s, divorce rates doubled, followed by an ongoing decline in marriage rates.1 Currently, 40 percent of children in the United States are born out of wedlock, without a stable, married, two-parent family; in the 1960s, at the start of the sexual revolution, that number was just 7 percent.2 Besides those births, there have been 60 million US children killed before birth via abortion since 1973.3 Sexually transmitted diseases (STDs), which would be almost nonexistent if all people were monogamous,b are instead at record highs,4 with something like 20 million new infections in the country each year.5 Pornography use has become so common that it’s just kind of assumed for men but is also regularly consumed by at least a third of all women.6 And then you have all the ways people use and abuse sex as a way to use and abuse other people through either harassment or assault, which is a huge problem: it’s estimated that one in five women are raped at some point in their lives,7 while the majority are either harassed or assaulted in some form.8 Go beyond the statistics and think about how all these things would affect the actual people involved, and all the various costs associated with each one. Add it all up, and the impact both on society and on individual relationships is ridiculously massive.

In Hayek’s monetary theory of the cycle the upswing is generated by monetary expansions that cause an excess of investment over volun- tary saving and a shift in the structure of production toward more time- consuming processes. This structure, created by a depressed money rate of interest, cannot be sustained. Monetary expansion, then, will not pro- duce an everlasting boom, and when the expansion eventually stops, crisis and depression follow. With regard to the sources of monetary expansion, while others like Mises put the blame on the misguided (“inflationist” or “cheap money”) attitude of the monetary authorities, Hayek pointed to the endogenous process of money creation by the banks, in particular in a sys- tem of fractional reserve banking (see, e.g., Hayek 2012a [1933a], chap. 4, vs. Mises 2006b [1928]).