Economics In 100 Quotes

He who makes $25,000 annually through passive income is more enviable than he who earns $100,000 annually through a salary.

In Venezuela Chavez has made the co-ops a top political priority, giving them first refusal on government contracts and offering them economic incentives to trade with one another. By 2006, there were roughly 100,000 co-operatives in the country, employing more than 700,000 workers. Many are pieces of state infrastructure – toll booths, highway maintenance, health clinics – handed over to the communities to run. It’s a reverse of the logic of government outsourcing – rather than auctioning off pieces of the state to large corporations and losing democratic control, the people who use the resources are given the power to manage them, creating, at least in theory, both jobs and more responsive public services. Chavez’s many critics have derided these initiatives as handouts and unfair subsidies, of course. Yet in an era when Halliburton treats the U.S. government as its personal ATM for six years, withdraws upward of $20 billion in Iraq contracts alone, refuses to hire local workers either on the Gulf coast or in Iraq, then expresses its gratitude to U.S. taxpayers by moving its corporate headquarters to Dubai (with all the attendant tax and legal benefits), Chavez’s direct subsidies to regular people look significantly less radical.

If the automobile had followed the same development as the computer, a Rolls Royce would today cost $100 and get a million miles per gallon, and explode once a year killing everyone inside. —Robert X. Cringely, InfoWorld magazine

Race scholars use the term white supremacy to describe a sociopolitical economic system of domination based on racial categories that benefits those defined and perceived as white. This system of structural power privileges, centralizes, and elevates white people as a group. If, for example, we look at the racial breakdown of the people who control our institutions, we see telling numbers in 2016–2017: - Ten richest Americans: 100 percent white (seven of whom are among the ten richest in the world) - US Congress: 90 percent white - US governors: 96 percent white - Top military advisers: 100 percent white - President and vice president: 100 percent white - US House Freedom Caucus: 99 percent white - Current US presidential cabinet: 91 percent white - People who decide which TV shows we see: 93 percent white - People who decide which books we read: 90 percent white - People who decide which news is covered: 85 percent white - People who decide which music is produced: 95 percent white - People who directed the one hundred top-grossing films of all time, worldwide: 95 percent white - Teachers: 82 percent white - Full-time college professors: 84 percent white - Owners of men’s professional football teams: 97 percent white These numbers are not describing minor organizations. Nor are these institutions special-interest groups. The groups listed above are the most powerful in the country. These numbers are not a matter of “good people” versus “bad people.” They represent power and control by a racial group that is in the position to disseminate and protect its own self-image, worldview, and interests across the entire society.

In the complexities of real life, seldom is any argument right 100 percent of the time or wrong 100 percent of the time.

During the twentieth century, communist governments killed some 100 million of their own people in peacetime, either by repression or by famine.

The problem isn’t just the type of energy we’re using; it’s what we are doing with it. Even if we had a 100%-clean-energy system, what would we do with it? Exactly what we are doing with fossil fuels: raze more forests, trawl more fish, mine more mountains, build more roads, expand industrial farming, and send more waste to landfill – all of which have ecological consequences our planet can no longer sustain. We will do these things because our economic system demands that we grow production and consumption at an exponential rate.

There seems to be a vicious cycle at work here, making ours not just an economy but a culture of extreme inequality. Corporate decision makers, and even some two-bit entrepreneurs like my boss at The Maids, occupy an economic position miles above that of the underpaid people whose labor they depend on. For reasons that have more to do with class — and often racial — prejudice than with actual experience, they tend to fear and distrust the category of people from which they recruit their workers. Hence the perceived need for repressive management and intrusive measures like drug and personality testing. But these things cost money — $20,000 or more a year for a manager, $100 a pop for a drug test, and so on — and the high cost of repression results in ever more pressure to hold wages down. The larger society seems to be caught up in a similar cycle: cutting public services for the poor, which are sometimes referred to collectively as the 'social wage,' while investing ever more heavily in prisons and cops. And in the larger society, too, the cost of repression becomes another factor weighing against the expansion or restoration of needed services. It is a tragic cycle, condemning us to ever deeper inequality, and in the long run, almost no one benefits but the agents of repression themselves.

100 trillion is 100 followed by 12 zeroes

At the beginning of the eighteenth century, as the British economic historian Angus Maddison has demonstrated, India’s share of the world economy was 23 per cent, as large as all of Europe put together. (It had been 27 per cent in 1700, when the Mughal Emperor Aurangzeb’s treasury raked in £100 million in tax revenues alone.) By the time the British departed India, it had dropped to just over 3 per cent. The reason was simple: India was governed for the benefit of Britain. Britain’s rise for 200 years was financed by its depredations in India.

To the RKO motion picture camera at her 100th birthday party: “I pray for the day when working men and women are able to earn a fair share of the wealth they produce in a capitalist system, a day when all Americans are able to enjoy the freedom, rights and opportunities guaranteed them by the Constitution of the United States of America.” — Mother Jones

How much does it cost to treat leprosy? One $3 dose of antibiotic will cure a mild case; a $20 regimen of three antibiotics will cure a more severe case. The World Health Organization even provides the drugs free, but India‘s health care infrastructure is not good enough to identify the afflicted and get them the medicine they need. So, more than 100,000 people in India are horribly disfigured by a disease that costs $3 to cure. That is what it means to have a per capita GDP of $2,900.

The FBI and the Secret Service each published reports in the first three years, guiding faculty to identify serious threats. The central recommendations contradicted prevailing post-Columbine behavior. They said identifying outcasts as threats is not healthy. It demonizes innocent kids who are already struggling. It is also unproductive. Oddballs are not the problem. They do not fit the profile. There is no profile. All the recent school shooters shared exactly one trait: 100 percent male. (Since the study a few have been female.) Aside from personal experience, no other characteristic hit 50 percent, not even close. “There is no accurate or useful ‘profile’ of attackers,” the Secret Service said. Attackers came from all ethnic, economic, and social classes. The bulk came from solid two-parent homes. Most had no criminal record or history of violence. The two biggest myths were that shooters were loners and that they “snapped.” A staggering 93 percent planned their attack in advance. “The path toward violence is an evolutionary one, with signposts along the way,” the FBI report said.

There needs to be an intersection of the set of people who wish to go, and the set of people who can afford to go...and that intersection of sets has to be enough to establish a self-sustaining civilisation. My rough guess is that for a half-million dollars, there are enough people that could afford to go and would want to go. But it’s not going to be a vacation jaunt. It’s going to be saving up all your money and selling all your stuff, like when people moved to the early American colonies...even at a million people you’re assuming an incredible amount of productivity per person, because you would need to recreate the entire industrial base on Mars. You would need to mine and refine all of these different materials, in a much more difficult environment than Earth. There would be no trees growing. There would be no oxygen or nitrogen that are just there. No oil.Excluding organic growth, if you could take 100 people at a time, you would need 10,000 trips to get to a million people. But you would also need a lot of cargo to support those people. In fact, your cargo to person ratio is going to be quite high. It would probably be 10 cargo trips for every human trip, so more like 100,000 trips. And we’re talking 100,000 trips of a giant spaceship...If we can establish a Mars colony, we can almost certainly colonise the whole Solar System, because we’ll have created a strong economic forcing function for the improvement of space travel. We’ll go to the moons of Jupiter, at least some of the outer ones for sure, and probably Titan on Saturn, and the asteroids. Once we have that forcing function, and an Earth-to-Mars economy, we’ll cover the whole Solar System. But the key is that we have to make the Mars thing work. If we’re going to have any chance of sending stuff to other star systems, we need to be laser-focused on becoming a multi-planet civilisation. That’s the next step.

We are on the edge of economic collapse unless we wake up and forcibly take back control of our government and economy. Over the past 100 years, the game has been rigged, slowly and piecemeal at first, always in the name of serving the greater good, preventing the next bubble or providing greater transparency and security. It is as if the American people are suffering from battered spouse syndrome; the politicians, the greedy bankers, and the Fed all lie to us while they steal our wealth and our liberty. Every time we call them on it, they promise to never do it again if we’ll just give them one more chance. So we let it slide and then act shocked when they do it to us again. Maybe we should have our collective head examined.

Second, being wrong hurts us more than being right feels good. We know from Daniel Kahneman and Amos Tversky’s work on loss aversion, part of prospect theory (which won Kahneman the Nobel Prize in Economics in 2002), that losses in general feel about two times as bad as wins feel good. So winning $100 at blackjack feels as good to us as losing $50 feels bad to us. Because being right feels like winning and being wrong feels like losing, that means we need two favorable results for every one unfavorable result just to break even emotionally. Why not live a smoother existence, without the swings, especially when the losses affect us more intensely than the wins?

Whenever I hear an economist use the word “efficiency” (or “productivity”), I can guess with near 100% accuracy that he (it usually is a he, as I’ll explain below) hasn’t the slightest idea what he’s talking about. With rare exceptions, he is inappropriately applying an engineering term to an economic process he does not understand.

Almost every Fed chairman in the past 60 years has manipulated interest rates to brighten the economic outlook for incumbent presidents or newly elected presidents who won by large margins. The purchasing power of the U.S. dollar has fallen 94 percent in the past 100 years. The only way you can create inflation is by creating more money that is backed by the same reserve assets; the Fed is the only entity that can create more money. Ben Bernanke’s quantitative easing (QE) programs have pumped billions of unfunded dollars into the economy, thereby setting us up for massive inflation in the very near future. If this isn’t a form of financial terrorism, it is incompetence of the highest order.

if confiscating 100 percent of your economic output constitutes slavery, at which point does it cease to be slavery? 80 percent? 50 percent? 39.6 percent?

What people do with their money is not a private affair, each penny above necessity belongs to social welfare.

Elitism is moronism, for it facilitates disparity.

In a world that still suffers from the lack of essentials, indulgence in luxury is human rights violation.

Every dollar spent on luxury is a dollar of disparity.

100 Years Is Enough: Time to Make the Fed a Public Utility

What Greenspan was saying, in other words, was that there was absolutely nothing wrong with bidding up to $100 million in share value some hot-air Internet stock, because the lack of that company’s “physical value” (i.e., the actual money those three employees weren’t earning) could be overcome by the inherent value of their “ideas.” To say that this was a radical reinterpretation of the entire science of economics is an understatement—economists had never dared measure “value” except in terms of actual concrete production. It was equivalent to a chemist saying that concrete becomes gold when you paint it yellow. It was lunacy.

One of the many signs of verbal virtuosity among intellectuals is the repackaging of words to mean things that are not only different from, but sometimes the direct opposite of, their original meanings. 'Freedom' and 'power' are among the most common of these repackaged words. The basic concept of freedom as not being subjected to other people's restrictions, and of power as the ability to restrict other people's options have both been stood on their heads in some of the repackaging of these words by intellectuals discussing economic issues. Thus business enterprises who expand the public's options, either quantitatively (through lower prices) or qualitatively (through better products) are often spoken of as 'controlling' the market, whenever this results in a high percentage of consumers choosing to purchase their particular products rather than the competing products of other enterprises. In other words, when consumers decide that particular brands of products are either cheaper or better than competing brands of those products, third parties take it upon themselves to depict those who produced these particular brands as having exercised 'power' or 'control.' If, at a given time, three-quarters of the consumers prefer to buy the Acme brand of widgets to any other brand, then Acme Inc. will be said to 'control' three-quarters of the market, even though consumers control 100 percent of the market, since they can switch to another brand of widgets tomorrow if someone else comes up with a better widget, or stop buying widgets altogether if a new product comes along that makes widgets obsolete. ....by saying that businesses have 'power' because they have 'control' of their markets, this verbal virtuosity opens the way to saying that government needs to exercise its 'countervailing power' (John Kenneth Galbraith's phrase) in order to protect the public. Despite the verbal parallels, government power is in fact power, since individuals do not have a free choice as to whether or not to obey government laws and regulations, while consumers are free to ignore the products marketed by even the biggest and supposedly most 'powerful' corporations in the world.

The “spendthrift” Hoover was in California at his Palo Alto home putting his own affairs in order, while the great Economizer who had denounced Hoover’s deficits had now produced in 100 days a deficit larger than Hoover had produced in two years.

There is no gainsaying the fact that this suggested program will strike most people as impossibly “radical” and “unrealistic”; any suggestion for changing the status quo, no matter how slight, can always be considered by someone as too radical, so that the only thoroughgoing escape from the charge of impracticality is never to advocate any change whatever in existing conditions. But to take this approach is to abandon human reason, and to drift in animal- or plant-like manner with the tide of events.

Banks once offered savings accounts yielding 5% annual interest, taxable. In today's economic climate, banks offer 0% interest. You can choose the Bank of Bitcoin, offering a savings account currently yielding more than 100% annual interest, tax deferred. The choice is yours to make.

The physiological effects of hunger alone stop us from fully engaging in the world and reaching our full potential. Our bodies and brains just don't function properly when they're deprived of nourishment. And since diet culture has been aimed primarily at women for the past 100 years, hunger could be seen as one of the most effective tools for suppressing female advancement. It keeps us thinking about things like waistlines and sugar substitutes rather than the need for social, political, and economic equality. Which is what led Wolf to famously write, "Dieting is the most potent political sedative in women's history." In other words, we cannot take on the world while we're hungry.

the arithmetic makes it plain that inflation is a far more devastating tax than anything that has been enacted by our legislature. The inflation tax has a fantastic ability to simply consume capital. It makes no difference to a widow with her saving in a 5 percent passbook account whether she pays 100 percent income tax on her interest income during a period of zero inflation, or pays no income taxes during years of 5 percent inflation. Either way, she is 'taxed' in a manner that leave her no real income whatsoever. Any money she spends comes right out of capital. She would find outrageous a 120 percent income tax, but doesn't seem to notice that 5 percent inflation is the economic equivalent.

A place that breaks down national and cultural borders. A place that blurs the boundaries between generating and exchanging ideas. A place that has toppled regimes and created new economic models. A place that has radically changed the way we work, play, shop, socialize and otherwise participate in society. But above all, a place that is for everyone.

Mussolini lacked one last guarantee of his survival: international legitimation and economic aid. In 1926, J. P. Morgan partner Thomas Lamont, another Fascist proselytizer, brokered a $100 million loan from the American government to the regime. Implicitly sanctioning Mussolini’s power grab, the act started a century of US support for right-wing authoritarian leaders.21

The heart of racism was and is economic, though its roots and results are also deeply cultural, psychological, sexual, religious, and, of course, political. Due to 246 years of brutal slavery and an additional 100 years of legal segregation and discrimination, no area of the relationship between black and white people in the United States is free from the legacy of racism.

It rests on the attempt since the 1970s to translate a pathological degeneration of the principle of laissez-faire into economic reality by the systematic retreat of states from any regulation or control of the activities of profit-making enterprise. This attempt to hand over human society to the (allegedly) self-controlling and wealth- or even welfare-maximising market, populated (allegedly) by actors in rational pursuit of their interests, had no precedent in any earlier phase of capitalist development in any developed economy, not even the USA. It was a reductio ad absurdum of what its ideologists read into Adam Smith, as the correspondingly extremist 100% state-planned command economy of the USSR was of what the Bolsheviks read into Marx.

Table 6.1 Median Family Income of Ethnic Groups in the United States, Ranked by Percentage of the National Average, 1969 Jewish 172% Japanese 132% Polish 115% Chinese 112% Italian 112% German 107% Anglo-Saxon 105% Irish 103% National Average 100% Filipino 99% West Indian 94% Cuban 80% Mexican 76% Puerto Rican 63% Black 62% Indian (American) 60%

let’s step back and consider the idea of economically driven structural violence in abstract principle. Imagine an island with 100 inhabitants. One person has managed to acquire, through customary trade methods, 99 percent of the resources of the island. The other ninety-nine are poor, sharing only 1 percent of the resources, and they are consequently suffering physically and psychologically. They are getting sick, fighting among themselves, and dying off prematurely for lack of economic means. The one wealthy person has more than enough to provide for everyone on the island without suffering any real loss of well-being, but chooses not to help. While intending no harm to anyone, the wealthy person simply thinks “everyone gets what they deserve” however unfortunate their plight.

In 1985 South Korean was a relatively poor country, bound by strict traditions and ruled by an authoritarian regime. Today South Korea is a leading economic power, its citizens are among the best educated in the world, and it enjoys a stable and comparatively liberal democratic regime. Yet whereas in 1985 about nine South Koreans per 100,000 killed themselves, today the annual rate of suicide is 36 per 100,000.31

But ranchers who cherish the western life and its values also pray for oil wells in their calving pasture or a coal lease on prime grassland. Economics has pressed them into such a paradoxical state. For years, they've borrowed $100,000 for operating costs; now they can't afford interest. Disfigurement is synonymous with the whole idea of a frontier. As soon as we lay our hands on it, the freedom we thought it represented is quickly gone.

Keller, who devoted much of her later life to raising funds for the American Foundation for the Blind, never wavered in her belief that our society needed radical change. Having herself fought so hard to speak, she helped found the American Civil Liberties Union to fight for the free speech of others. She sent $100 to the NAACP with a letter of support that appeared in its magazine The Crisis—a radical act for a white person from Alabama in the 1920s. She supported Eugene V. Debs, the Socialist candidate, in each of his campaigns for the presidency. She composed essays on the women’s movement, on politics, on economics. Near the end of her life, she wrote to Elizabeth Gurley Flynn, leader of the American Communist Party, who was then languishing in jail, a victim of the McCarthy era: “Loving birthday greetings, dear Elizabeth Flynn! May the sense of serving mankind bring strength and peace into your brave heart!

And since diet culture has been aimed primarily at women for the past 100 years, hunger could be seen as one of the most effective tools for suppressing female advancement. It keeps us thinking about things like waistlines and sugar substitutes rather than the need for social, political, and economic equality. Which is what led Wolf to famously write, “Dieting is the most potent political sedative in women’s history.” In other words: we cannot take on the world while we’re hungry.

In this way the extortion game is similar to the economics of sending spam e-mail. When receiving an e-mail promising a share of a lost Nigerian inheritance or cheap Viagra, nearly everyone clicks delete. But a tiny number takes the bait. Computer scientists at the University of California–Berkeley and UC–San Diego hijacked a working spam network to see how the business operated. They found that the spammers, who were selling fake “herbal aphrodisiacs,” made only one sale for every 12.5 million e-mails they sent: a response rate of 0.00001 percent. Each sale was worth an average of less than $100. It doesn’t look like much of a business. But sending out the e-mails was so cheap and easy—it was done using a network of hijacked PCs, which the fraudsters used free of charge—that the spammers made a healthy profit. Pumping out hundreds of millions of e-mails a day, they had a daily income of about $7,000, or more than $2.5 million a year, the researchers figured.3

Think about ethanol again. The benefits of that $7 billion tax subsidy are bestowed on a small group of farmers, making it quite lucrative for each one of them. Meanwhile, the costs are spread over the remaining 98 percent of us, putting ethanol somewhere below good oral hygiene on our list of everyday concerns. The opposite would be true with my plan to have left-handed voters pay subsidies to right-handed voters. There are roughly nine right-handed Americans for every lefty, so if every right-handed voter were to get some government benefit worth $100, then every left-handed voter would have to pay $900 to finance it. The lefties would be hopping mad about their $900 tax bills, probably to the point that it became their preeminent political concern, while the righties would be only modestly excited about their $100 subsidy. An adept politician would probably improve her career prospects by voting with the lefties. Here is a curious finding that makes more sense in light of what we‘ve just discussed. In countries where farmers make up a small fraction of the population, such as America and Europe, the government provides large subsidies for agriculture. But in countries where the farming population is relatively large, such as China and India, the subsidies go the other way. Farmers are forced to sell their crops at below-market prices so that urban dwellers can get basic food items cheaply. In the one case, farmers get political favors; in the other, they must pay for them. What makes these examples logically consistent is that in both cases the large group subsidizes the smaller group. In politics, the tail can wag the dog. This can have profound effects on the economy.

If science and God do not mix, there would be no Christian Nobel Prize winners. In fact, between 1901 and 2000 over 60% of Nobel Laureates were Christians. According to 100 Years of Nobel Prizes (2005) by Baruch Aba Shalev, a review of Nobel Prizes awarded between 1901 and 2000, 65.4% of Nobel Prize Laureates, have identified Christianity in its various forms as their religious preference (423 prizes). Overall, Christians have won a total of 78.3% of all the Nobel Prizes in Peace, 72.5% in Chemistry, 65.3% in Physics, 62% in Medicine, 54% in Economics and 49.5% of all Literature awards.

China's food comes from abroad: from South America, the United States and Australia. This means prosperity for agricultural traders and processors, like Archer Daniels Midland, which is making its way into China in every way imaginable, into a $ 100 billion domestic processed food market that is growing more than 10 percent annually. This translates into a windfall for farmers in the Midwest, who are now enjoying a two-thirds rise in the price of soybeans compared to a year ago. It also means a better diet for the Chinese, who have increased their caloric intake by a third over the past 25 years.

In retrospect, the strategy pursued by LTCM can be seen as a variant on the ancient “martingale” betting strategy. As Slate writer (and mathematician and novelist) Jordan Ellenberg explained, the strategy can be illustrated by betting on a coin:   Bet 100 bucks on heads. If you win, you walk away $100 richer. If you lose, no problem; on the next flip, bet $200 on heads, and if you win this time, take your $100 profit and quit. If you lose, you’re down $300 on the day; so you double down again and bet $400. The coin can’t come up tails forever! Eventually, you’ve got to win your $100 back. (Ellenberg 2008)

We all assume that offering people money will get them to do what we want. But let’s say you go into a bar after work. You meet someone attractive, and you sense the feeling is mutual. You buy each other drinks and have an interesting conversation. After a while, you say, “Hey, I really like you! Want to come back to my place?” Who knows? You might get lucky. But what will happen if you add, “I’m even willing to pay you $100”? You’ve completely changed the meaning of the interaction and insulted the other person by effectively turning him or her into a prostitute. By adding a monetary value to your interaction, you’ve essentially destroyed what might have blossomed into a nice relationship.

According to one recent study [...] the [climate change] denial-espousing think tanks and other advocacy groups making up what sociologist Robert Brulle calls the “climate change counter-movement” are collectively pulling in more than $ 900 million per year for their work on a variety of right-wing causes, most of it in the form of “dark money”— funds from conservative foundations that cannot be fully traced. This points to the limits of theories like cultural cognition that focus exclusively on individual psychology. The deniers are doing more than protecting their personal worldviews - they are protecting powerful political and economic interests that have gained tremendously from the way Heartland and others have clouded the climate debate. The ties between the deniers and those interests are well known and well documented. Heartland has received more than $ 1 million from ExxonMobil together with foundations linked to the Koch brothers and the late conservative funder Richard Mellon Scaife. Just how much money the think tank receives from companies, foundations, and individuals linked to the fossil fuel industry remains unclear because Heartland does not publish the names of its donors, claiming the information would distract from the “merits of our positions.” Indeed, leaked internal documents revealed that one of Heartland’s largest donors is anonymous - a shadowy individual who has given more than $ 8.6 million specifically to support the think tank’s attacks on climate science. Meanwhile, scientists who present at Heartland climate conferences are almost all so steeped in fossil fuel dollars that you can practically smell the fumes. To cite just two examples, the Cato Institute’s Patrick Michaels, who gave the 2011 conference keynote, once told CNN that 40 percent of his consulting company’s income comes from oil companies (Cato itself has received funding from ExxonMobil and Koch family foundations). A Greenpeace investigation into another conference speaker, astrophysicist Willie Soon, found that between 2002 and 2010, 100 percent of his new research grants had come from fossil fuel interests.

Sonnet of Consumerism Ever wonder in a world of consumerism, Who's the consumer, who's the product! You may think that you are the one owning things, But it's the things that own you, head and heart. When unmoderated materialism is the world's norm, Consumer is the product, product does the consuming. And this insanity is revered as industrial growth, Then they wonder, why is there so much suffering! The point is, your insecurity is good for business, The shallower you are, the more your pocket empties. But if you don't wanna end up at la casa de loco, Stop living in products and focus on memories. Corporations chasing revenue cause economic disparity. Buy less, buy local, to construct a sustainable economy.

The economic crisis and subsequent bailout exacerbated inequality by every metric and did not lead to significant reform of the financial sector. Bailed-out banks continued to foreclose on the homes of working-class families while refusing to make new loans to creditworthy borrowers. Under an Ivy League–educated African American president, African American family wealth had collapsed. In fact, it is common knowledge that African American and Latino homeowners were hit hardest by the 2008 financial crisis: by 2018, an African American family owned $5.00 in assets for every $100.00 owned by white families.6 Obama’s identity politics did not translate into economic policies that benefited minorities and working-class people.

By overexploiting the Earth’s natural resources, humanity is not putting nature at risk, but nature’s provisional capacity to nourish humanity. Humanity is putting itself at risk. It is highly unlikely that in 2050 nine billion people can live in a civilisation of economic development and growth as we do today. No massive technological progress can be seen on the horizon that will lower the burden of the energy, farming and fishing levies on the capital of the Earth. The ecosystem in itself is in no way threatened. The Earth still has 4 billion years before it can regenerate all its resources — without mankind! — thanks to the chemistry of carbon, oxygen and hydrogen. A ravaged ecosystem will regenerate itself very rapidly, that is, in less than 100,000 years.

In 2004, fifty years after Brown, “not a single African American earned a Ph.D. in astronomy or astrophysics,” according to the Journal of Blacks in Higher Education. In fact, of the 2,100 Ph.Ds. awarded in forty-three different fields in the natural sciences, not one of these doctoral degrees went to an African American.132 The refusal to implement Brown throughout the South even in the face of Sputnik—not only as the law or as simple humanity might have dictated but also as demanded by national interest and patriotism—compromised and undermined American strength. Now, in the twenty-first century, the sector of the U.S. economy that accounts for more than 50 percent of our sustained economic expansion, science and engineering, is relying on an ever-dwindling skilled and educated workforce.

Most observers had overlooked the radical change in the relationship between the USSR and the world that took place in the 1960s and 1970s. At that time, the Soviet economy, formally still closed, had in fact become deeply integrated into the system of international trade and dependent on world markets (see table 4-19). This change, as a rule, was noticed only by researchers concerned with grain and oil markets. The majority of analysts studying the socialist system considered its foundation to be solid.99 Some publications spoke of risk factors that could undermine the stability of the Soviet regime. But they were exceptions, and their influence on the future image of the USSR was limited.100 In 1985 almost no one imagined that six years later there would be no Soviet Union, no ruling Communist Party, no Soviet economic system.

Temperatures, petrol prices, the price of the dollar: the golden triangle of our summer. These are facts beyond our control and all we hope now is to see them all rising indefinitely. Sometimes the figures are mixed up in a prophetic confusion, as in 1980 in the US deserts. There, the price per gallon: 51.18, 51.20, 51 .25, varied from one place to another as an exact reflection of the temperature graphs: 100, 110 and 120 degrees Fahrenheit. With the question of confidence always lurking just beneath the surface: what price would you accept petrol rising to? What point do you think the dollar could go up to (with the implication: before causing a crash in world economies)? What record level can the heat reach (before causing a volatilization of energy and the beginnings of a worldwide insomnia)? Our artificial destiny is written in these asymptotic curves.

One of Palau’s biggest draws for tourist divers is its shark population. When I asked for Remengesau’s reaction to the hundreds of shark fins found in the hold of the Shin Jyi, he immediately launched into an explanation of the economic impact of killing sharks. Alive, an individual shark is worth over $170,000 annually in tourism dollars, or nearly $2 million over its lifetime, he said. Dead, each sells for $100, and usually that money goes to a foreign poacher. Even if his numbers seemed a bit overstated, there was no doubting the financial consequences of killing the sharks. More than a dozen countries, including Palau and Taiwan, had banned shark finning. But demand for the fins, especially in Asia, remained high. Served at Chinese weddings and other official banquets, shark-fin soup, which can sell for over $100 per bowl, has for centuries signified wealth.

Hitler, then, as his future Reichsbank president and Minister of Economics says, was beginning to see the men in Germany who had the money, and he was telling them more or less what they wanted to hear. The party needed large sums to finance election campaigns, pay the bill for its widespread and intensified propaganda, meet the payroll of hundreds of full-time officials and maintain the private armies of the S.A. and the S.S., which by the end of 1930 numbered more than 100,000 men—a larger force than the Reichswehr. The businessmen and the bankers were not the only financial sources—the, party raised sizable sums from dues, assessments, collections and the sale of party newspapers, books and periodicals—but they were the largest. And the more money they gave the Nazis, the less they would have for the other conservative parties which they had been supporting hitherto.

But scamming large amounts of money off the top seems even harder to catch. Fraud by American defense contractors is estimated at around $100 billion per year, and they are relatively well behaved compared to the financial industry. The FBI reports that since the economic recession of 2008, securities and commodities fraud in the United States has gone up by more than 50 percent. In the decade prior, almost 90 percent of corporate fraud cases—insider trading, kickbacks and bribes, false accounting—implicated the company’s chief executive officer and/or chief financial officer. The recession, which was triggered by illegal and unwise banking practices, cost American shareholders several trillion dollars in stock value losses and is thought to have set the American economy back by a decade and a half. Total costs for the recession have been estimated to be as high as $14 trillion—or about $45,000 per citizen.

Or, stated in a familiar way, increasing cognitive load* should make people more conservative. This is precisely the case. The time pressure of snap judgments is a version of increased cognitive load. Likewise, people become more conservative when tired, in pain or distracted with a cognitive task, or when blood alcohol levels rise. Recall from chapter 3 that willpower takes metabolic power, thanks to the glucose demands of the frontal cortex. This was the finding that when people are hungry, they become less generous in economic games. A real-world example of this is startling (see graph on previous page)—in a study of more than 1,100 judicial rulings, prisoners were granted parole at about a 60 percent rate when judges had recently eaten, and at essentially a 0 percent rate just before judges ate (note also the overall decline over the course of a tiring day). Justice may be blind, but she’s sure sensitive to her stomach gurgling.

Concerns about relative position also appear to affect labor force participation by much more than traditional economic factors. The economists David Neumark and Andrew Postlewaite, for example, investigated the labor force status of three thousand pairs of full sisters, one of whom in each pair did not work outside the home. Their aim was to discover what determined whether the other sister in each pair would seek paid employment. None of the usual economic suspects mattered much—not the local unemployment, vacancy, and wage rates, not the other sister’s education and experience. A single variable in their study explained far more of the variance in labor force participation rates than any other: a woman whose sister’s husband earned more than her own husband was 16 to 25 percent more likely than others to seek paid employment.43 As the essayist H. L. Mencken observed, “A wealthy man is one who earns $100 a year more than his wife’s sister’s husband.

if all money comes into existence through loans, with the returning of those loans removing the money from the money supply, where does the money to pay the interest come from? To better understand the question, consider a small island with 100 inhabitants. They have a bank that creates and loans money. Let’s assume each person gets a $100 loan. This means $10,000 has been created as the island’s total money supply. Everyone then buys goods and services, exchanging this money with each other, generating economic activity. This $10,000 in loans could then technically be returned to the bank, fulfilling the society’s loan obligations, removing all money from existence. However, if interest is charged, more money needs to be returned than actually exists. If each of those $100 loans required has a 10 percent interest fee, then while the total money supply is still $10,000, the actual value owed back to the bank is actually $11,000. So where does that extra $1,000 come from?

[There is] no direct relationship between IQ and economic opportunity. In the supposed interests of fairness and “social justice”, the natural relationship has been all but obliterated. Consider the first necessity of employment, filling out a job application. A generic job application does not ask for information on IQ. If such information is volunteered, this is likely to be interpreted as boastful exaggeration, narcissism, excessive entitlement, exceptionalism [...] and/or a lack of team spirit. None of these interpretations is likely to get you hired. Instead, the application contains questions about job experience and educational background, neither of which necessarily has anything to do with IQ. Universities are in business for profit; they are run like companies, seek as many paying clients as they can get, and therefore routinely accept people with lukewarm IQ’s, especially if they fill a slot in some quota system (in which case they will often be allowed to stay despite substandard performance). Regarding the quotas themselves, these may in fact turn the tables, advantaging members of groups with lower mean IQ’s than other groups [...] sometimes, people with lower IQ’s are expressly advantaged in more ways than one. These days, most decent jobs require a college education. Academia has worked relentlessly to bring this about, as it gains money and power by monopolizing the employment market across the spectrum. Because there is a glut of college-educated applicants for high-paying jobs, there is usually no need for an employer to deviate from general policy and hire an applicant with no degree. What about the civil service? While the civil service was once mostly open to people without college educations, this is no longer the case, and quotas make a very big difference in who gets hired. Back when I was in the New York job market, “minorities” (actually, worldwide majorities) were being spotted 30 (thirty) points on the civil service exam; for example, a Black person with a score as low as 70 was hired ahead of a White person with a score of 100. Obviously, any prior positive correlation between IQ and civil service employment has been reversed. Add to this the fact that many people, including employers, resent or feel threatened by intelligent people [...] and the IQ-parameterized employment function is no longer what it was once cracked up to be. If you doubt it, just look at the people running things these days. They may run a little above average, but you’d better not be expecting to find any Aristotles or Newtons among them. Intelligence has been replaced in the job market with an increasingly poor substitute, possession of a college degree, and given that education has steadily given way to indoctrination and socialization as academic priorities, it would be naive to suppose that this is not dragging down the overall efficiency of society. In short, there are presently many highly intelligent people working very “dumb” jobs, and conversely, many less intelligent people working jobs that would once have been filled by their intellectual superiors. Those sad stories about physics PhD’s flipping burgers at McDonald's are no longer so exceptional. Sorry, folks, but this is not your grandfather’s meritocracy any more.

Kuznets created a metric called Gross National Product, which provided the basis for the Gross Domestic Product (GDP) metric we use today. But Kuznets was careful to emphasise that GDP is flawed. It tallies up the market value of total production, but it doesn’t care whether that production is helpful or harmful. GDP makes no distinction between $100 worth of tear gas and $100 worth of education. And, perhaps more importantly, it does not account for the ecological and social costs of production. If you cut down a forest for timber, GDP goes up. If you extend the working day and push back the retirement age, GDP goes up. If pollution causes hospital visits to rise, GDP goes up. But GDP says nothing about the loss of the forest as habitat for wildlife, or as a sink for emissions. It says nothing about the toll that too much work and pollution takes on people’s bodies and minds. And not only does it leave out what is bad, it also leaves out much of what is good: it doesn’t count most non-monetised economic activities, even when they are essential to human life and well-being. If you grow your own food, clean your own house or care for your ageing parents, GDP says nothing.

During his visit to India in December 2010, the soft-spoken Chinese Premier Wen Jiabao seems to have succeeded in convincing Prime Minister Manmohan Singh that the border dispute between the two countries belongs to the past, won’t be easy to resolve, and requires patience. Instead of using whatever diplomatic language was necessary to call this statement pure poppycock, the even more soft-spoken Dr Singh appears to have succumbed completely. When Mr Jiabao was asked whether he would advise Pakistan to stop terrorist activity, he made it clear that he would not. ‘That’s for the two of you to resolve,’ he bluntly said. Our prime minister obviously tried to flatter his guest in the hope of getting some response which he could sell to the Indian people when he declared that ‘the world will listen when India and China will speak with one voice’. The response he received to this piece of flattery was, ‘Our relationship is greater than the sum of its parts.’ To me the statement is an attractive piece of diplomatic craftsmanship meaning nothing. Without any countervailing advantage, the visit yielded a trade pact which will take the bilateral trade to $100 billion by 2015, a complete economic sell-out in a year when the trade deficit was already approximately $20 billion.

Victorious in World War I, the ruling powers of France and the United Kingdom spent the 1920s rebuilding their economies and military strength, while Germany remained subordinate, its power stunted by the punitive conditions of the Treaty of Versailles. The treaty demanded severe economic reparations and imposed tight constraints on the German military, prohibiting it from having planes, tanks, and any more than 100,000 troops. Germany was forced to surrender its overseas colonies as well as 13 percent of its European territory (and 10 percent of its population), and to submit to Allied occupation of its industrial core, the Rhineland.125 Most damaging to German pride was the “war guilt” clause, which laid blame for the war squarely on Germany. While “bitterly resented by almost all Germans,”126 the so-called “slave treaty”127 nevertheless “left the Reich geographically and economically largely intact and preserved her political unity and her potential strength as a great nation.”128 Only twenty years after the Great War, Adolf Hitler would use that strength in a second attempt to overturn the European order. Hitler “focused relentlessly” on bringing about Germany’s rise.129 After his National Socialist Party won elections in 1933, Hitler moved to consolidate his power through extra-democratic means. He justified himself with a call to marshal “all German national energies” toward the singular objective of rearmament to secure his vision of Lebensraum for the German people: “He wanted the whole of central Europe and all of Russia, up to the Volga for German Lebensraum to secure Germany’s self-sufficiency and status as a great power,” as Paul Kennedy puts it.130

A confidential report delivered in June 1965 by Abel Aganbegyan, director of the Novobirsk Institute of Economics, highlighted the difficulties. Aganbegyan noted that the growth rate of the Soviet economy was beginning to decline, just as the rival US economy seemed particularly buoyant; at the same time, some sectors of the Soviet economy - housing, agriculture, services, retail trade - remained very backward, and were failing to develop at an adequate rate. The root causes of this poor performance he saw in the enormous commitment of resources to defense (in human terms, 30-40 million people out of a working population of 100 million, he reckoned), and the 'extreme centralism and lack of democracy in economic matters' which had survived from the past. In a complex modern society, he argued, not everything could be planned, since it was impossible to foresee all possible contingencies and their potential effects. So the plan amounted to central command, and even that could not be properly implemented for lack of information and of modern data-processing equipment. 'The Central Statistical Administration ... does not have a single computer, and is not planning to acquire any,' he commented acidly. Economic administration was also impeded by excessive secrecy: 'We obtain many figures... from American journals sooner than they are released by the Central Statistical Administration.' Hence the economy suffered from inbuilt distortions: the hoarding of goods and labour to provide for unforeseen contingencies, the production of shoddy goods to fulfill planning targets expressed in crude quantitative terms, the accumulation of unused money by a public reluctant to buy substandard products, with resultant inflation and a flourishing black market.

Economics today creates appetites instead of solutions. The western world swells with obesity while others starve. The rich wander about like gods in their own nightmares. Or go skiing in the desert. You don’t even have to be particularly rich to do that. Those who once were starving now have access to chips, Coca-Cola, trans fats and refined sugars, but they are still disenfranchized. It is said that when Mahatma Gandhi was asked what he thought about western civilization, he answered that yes, it would be a good idea. The bank man’s bonuses and the oligarch’s billions are natural phenomena. Someone has to pull away from the masses – or else we’ll all become poorer. After the crash Icelandic banks lost 100 billion dollars. The country’s GDP had only ever amounted to thirteen billion dollars in total. An island with chronic inflation, a small currency and no natural resources to speak of: fish and warm water. Its economy was a third of Luxembourg’s. Well, they should be grateful they were allowed to take part in the financial party. Just like ugly girls should be grateful. Enjoy, swallow and don’t complain when it’s over. Economists can pull the same explanations from their hats every time. Dream worlds of total social exclusion and endless consumerism grow where they can be left in peace, at a safe distance from the poverty and environmental destruction they spread around themselves. Alternative universes for privileged human life forms. The stock market rises and the stock market falls. Countries devalue and currencies ripple. The market’s movements are monitored minute by minute. Some people always walk in threadbare shoes. And you arrange your preferences to avoid meeting them. It’s no longer possible to see further into the future than one desire at a time. History has ended and individual freedom has taken over. There is no alternative.

Almost all official statistics and policy documents on wages, income, gross domestic product (GDP), crime, unemployment rates, innovation rates, cost of living indices, morbidity and mortality rates, and poverty rates are compiled by governmental agencies and international bodies worldwide in terms of both total aggregate and per capita metrics. Furthermore, well-known composite indices of urban performance and the quality of life, such as those assembled by the World Economic Forum and magazines like Fortune, Forbes, and The Economist, primarily rely on naive linear combinations of such measures.6 Because we have quantitative scaling curves for many of these urban characteristics and a theoretical framework for their underlying dynamics we can do much better in devising a scientific basis for assessing performance and ranking cities. The ubiquitous use of per capita indicators for ranking and comparing cities is particularly egregious because it implicitly assumes that the baseline, or null hypothesis, for any urban characteristic is that it scales linearly with population size. In other words, it presumes that an idealized city is just the linear sum of the activities of all of its citizens, thereby ignoring its most essential feature and the very point of its existence, namely, that it is a collective emergent agglomeration resulting from nonlinear social and organizational interactions. Cities are quintessentially complex adaptive systems and, as such, are significantly more than just the simple linear sum of their individual components and constituents, whether buildings, roads, people, or money. This is expressed by the superlinear scaling laws whose exponents are 1.15 rather than 1.00. This approximately 15 percent increase in all socioeconomic activity with every doubling of the population size happens almost independently of administrators, politicians, planners, history, geographical location, and culture.

Bitcoin is not a currency. Bitcoin is the internet of money. As a technology, it can bring economic inclusion and empowerment to billions of people in the world. I’ll give you one example of a specific application that is going to fundamentally change the lives of more than a billion people in the next five to ten years. ​ Every day, an immigrant somewhere cashes their paycheck and stands in line to wire 50 percent of that paycheck back to their home country to feed their extended family. Here in the US, 60 million people have no bank accounts, yet they cash their paychecks and send them abroad. Overall in the world, $550 billion is transmitted every year as remittances from first-world countries. Much of that money is sent to five major destinations: Mexico, India, the Philippines, Indonesia, and China. In some of these places, remittances represent up to 40 percent of the local economy. Sitting on top of that flow of $550 billion are companies like Western Union, and they take, on average, a cut of 9 percent of every single one of these transactions out of the pockets of the poorest people of the world. Imagine what happens when one day one of these immigrants figures out they can do the same thing with bitcoin — not for 15 percent, not 10 percent, not 5 percent, but for 5 cents. Not a percentage; a flat fee. What happens when they can do that? They can, right now. There is a startup company that is handling remittances between the US and the Philippines. They’re doing a few million dollars right now, but they’re going to start growing. There’s $500 billion sitting behind that dam. When you’re an immigrant and you can change your financial future by not paying 9 percent to send money home, imagine what happens if every month, instead of sending 91 dollars home, you send 100 dollars home. That makes a difference. There are a billion people, right now, with access to the internet and feature phones who could use bitcoin as an international wire-transfer service.

This extreme situation in which all data is processed and all decisions are made by a single central processor is called communism. In a communist economy, people allegedly work according to their abilities, and receive according to their needs. In other words, the government takes 100 per cent of your profits, decides what you need and then supplies these needs. Though no country ever realised this scheme in its extreme form, the Soviet Union and its satellites came as close as they could. They abandoned the principle of distributed data processing, and switched to a model of centralised data processing. All information from throughout the Soviet Union flowed to a single location in Moscow, where all the important decisions were made. Producers and consumers could not communicate directly, and had to obey government orders. For instance, the Soviet economics ministry might decide that the price of bread in all shops should be exactly two roubles and four kopeks, that a particular kolkhoz in the Odessa oblast should switch from growing wheat to raising chickens, and that the Red October bakery in Moscow should produce 3.5 million loaves of bread per day, and not a single loaf more. Meanwhile the Soviet science ministry forced all Soviet biotech laboratories to adopt the theories of Trofim Lysenko – the infamous head of the Lenin Academy for Agricultural Sciences. Lysenko rejected the dominant genetic theories of his day. He insisted that if an organism acquired some new trait during its lifetime, this quality could pass directly to its descendants. This idea flew in the face of Darwinian orthodoxy, but it dovetailed nicely with communist educational principles. It implied that if you could train wheat plants to withstand cold weather, their progenies will also be cold-resistant. Lysenko accordingly sent billions of counter-revolutionary wheat plants to be re-educated in Siberia – and the Soviet Union was soon forced to import more and more flour from the United States.

This might be perhaps the simplest single-paragraphy summation of civilizational advances, a concise summary of growth that matters most. Our ability to provide a reliable, adequate food supply thanks to yields an order of magnitude higher than in early agricultures has been made possible by large energy subsidies and it has been accompanied by excessive waste. A near-tripling of average life expectancies has been achieved primarily by drastic reductions of infant mortality and by effective control of bacterial infections. Our fastest mass-travel speeds are now 50-150 times higher than walking. Per capita economic product in affluent countries is roughly 100 times larger than in antiquity, and useful energy deployed per capita is up to 200-250 times higher. Gains in destructive power have seen multiples of many (5-11) orders of magnitude. And, for an average human, there has been essentially an infinitely large multiple in access to stored information, while the store of information civilization-wide will soon be a trillion times larger than it was two millenia ago. And this is the most worrisome obverse of these advances: they have been accompanied by a multitude of assaults on the biosphere. Foremost among them has been the scale of the human claim on plants, including a significant reduction of the peak posts-glacial area of natural forests (on the order of 20%), mostly due to deforestation in temperate and tropical regions; a concurrent expansion of cropland to cover about 11% of continental surfaces; and an annual harvest of close to 20% of the biosphere's primary productivity (Smil 2013a). Other major global concerns are the intensification of natural soil erosion rates, the reduction of untouched wilderness areas to shrinking isolated fragments, and a rapid loss of biodiversity in general and within the most species-rich biomes in particular. And then there is the leading global concern: since 1850 we have emitted close to 300 Gt of fossil carbon to the atmosphere (Boden and Andres 2017). This has increased tropospheric CO2 concentrations from 280 ppm to 405 ppm by the end of 2017 and set the biosphere on a course of anthropogenic global warming (NOAA 2017). These realities clearly demonstrate that our preferences have not been to channel our growing capabilities either into protecting the biosphere or into assuring decent prospects for all newborns and reducing life's inequalities to tolerable differences. Judging by the extraordinary results that are significantly out of line with the long-term enhancements of our productive and protective abilities, we have preferred to concentrate disproportionately on multiplying the destructive capacities of our weapons and, even more so, on enlarging our abilities for the mass-scale acquisition and storage of information and for instant telecommunication, and have done so to an extent that has become not merely questionable but clearly counterproductive in many ways.

Anarchism is the great liberator of man from the phantoms that have held him captive; it is the arbiter and pacifier of the two forces for individual and social harmony. To accomplish that unity, Anarchism has declared war on the pernicious influences which have so far prevented the harmonious blending of individual and social instincts, the individual and society. Religion, the dominion of the human mind; Property, the dominion of human needs; and Government, the dominion of human conduct, represent the stronghold of man's enslavement and all the horrors it entails. Religion! How it dominates man's mind, how it humiliates and degrades his soul. God is everything, man is nothing, says religion. But out of that nothing God has created a kingdom so despotic, so tyrannical, so cruel, so terribly exacting that naught but gloom and tears and blood have ruled the world since gods began. Anarchism rouses man to rebellion against this black monster. Break your mental fetters, says Anarchism to man, for not until you think and judge for yourself will you get rid of the dominion of darkness, the greatest obstacle to all progress. Property, the dominion of man's needs, the denial of the right to satisfy his needs. Time was when property claimed a divine right, when it came to man with the same refrain, even as religion, "Sacrifice! Abnegate! Submit!" The spirit of Anarchism has lifted man from his prostrate position. He now stands erect, with his face toward the light. He has learned to see the insatiable, devouring, devastating nature of property, and he is preparing to strike the monster dead. "Property is robbery," said the great French Anarchist, Proudhon. Yes, but without risk and danger to the robber. Monopolizing the accumulated efforts of man, property has robbed him of his birthright, and has turned him loose a pauper and an outcast. Property has not even the time-worn excuse that man does not create enough to satisfy all needs. The A B C student of economics knows that the productivity of labor within the last few decades far exceeds normal demand a hundredfold. But what are normal demands to an abnormal institution? The only demand that property recognizes is its own gluttonous appetite for greater wealth, because wealth means power; the power to subdue, to crush, to exploit, the power to enslave, to outrage, to degrade. America is particularly boastful of her great power, her enormous national wealth. Poor America, of what avail is all her wealth, if the individuals comprising the nation are wretchedly poor? If they live in squalor, in filth, in crime, with hope and joy gone, a homeless, soilless army of human prey. It is generally conceded that unless the returns of any business venture exceed the cost, bankruptcy is inevitable. But those engaged in the business of producing wealth have not yet learned even this simple lesson. Every year the cost of production in human life is growing larger (50,000 killed, 100,000 wounded in America last year); the returns to the masses, who help to create wealth, are ever getting smaller. Yet America continues to be blind to the inevitable bankruptcy of our business of production. Nor is this the only crime of the latter. Still more fatal is the crime of turning the producer into a mere particle of a machine, with less will and decision than his master of steel and iron. Man is being robbed not merely of the products of his labor, but of the power of free initiative, of originality, and the interest in, or desire for, the things he is making.

Why do people stay together? Putting aside ‘for the sake of the children’, and ‘the habit of years’ and ‘economic reasons’ as lawyers’ nonsense – it’s not much more – if one really does try to find out why it is that people don’t leave each other, one discovers a mystery.

Death shows no favor. He is very fair: exacting the same advantages to all. Age, race, gender, or economic status does not cause discrimination within the company of Death. Of all marketing companies on the Earth, Death has surpassed them all: ensuring to meet nearly 100% of its inhabitants. The only one powerful enough to release the clinch that Death holds is the Father who disseminates power to whom He sees fit.

The fascination with automation in part reflected the country’s mood in the immediate postwar period, including a solid ideological commitment to technological progress. Representatives of industry (along with their counterparts in science and engineering) captured this mood by championing automation as the next step in the development of new production machinery and American industrial prowess. These boosters quickly built up automation into “a new gospel of postwar economics,” lauding it as “a universal ideal” that would “revolutionize every area of industry.” 98 For example, the November 1946 issue of Fortune magazine focused on the prospects for “The Automatic Factory.” The issue included an article titled “Machines without Men” that envisioned a completely automated factory where virtually no human labor would be needed. 99 With visions of “transforming the entire manufacturing sector into a virtually labor-free enterprise,” factory owners in a range of industries began to introduce automation in the postwar period. 100 The auto industry moved with particular haste. After the massive wave of strikes in 1945–46, automakers seized on automation as a way to replace workers with machines. 101 As they converted back to civilian auto production after World War II, they took the opportunity to install new labor-saving automatic production equipment. The two largest automakers, Ford and General Motors, set the pace. General Motors introduced the first successful automated transfer line at its Buick engine plant in Flint in 1946 (shortly after a 113-day strike, the longest in the industry’s history). The next year Ford established an automation department (a Ford executive, Del S. Harder, is credited with coining the word “automation”). By October 1948 the department had approved $ 3 million in spending on 500 automated devices, with early company estimates predicting that these devices would result in a 20 percent productivity increase and the elimination of 1,000 jobs. Through the late 1940s and 1950s Ford led the way in what became known as “Detroit automation,” undertaking an expensive automation program, which it carried out in concert with the company’s plans to decentralize operations away from the city. A major component of this effort was the Ford plant in the Cleveland suburb of Brook Park, a $ 2 billion engine-making complex that attracted visitors from government, industry, and labor and became a national symbol of automation in the 1950s. 102

If you’re living in constant fear of screwing up, don’t be. As long as you move fast but safely, you’re taking action, and action creates forward momentum and direction in your business—even if your progress isn’t perfect 100 percent of the time. One

better idea would be to keep the same number of staff you have now and invest in high upside-leverage “performance enhancement” training, which would result in those same employees becoming as much as 50 to 100 percent more effective.

I am sure that by now you have understood the basics of cryptocurrencies and how the Ethereum system works. In this chapter, we will look at the fundamental differences between Ethereum and Bitcoin and why the former is said to be better than the latter. Block time One of the main differences between the two cryptocurrencies is the block time. The block time refers to the time taken by the network for confirmation. It is important for a network to have shorter block times to mine more coins. This is a disadvantage with Bitcoins as the average time taken is 10 minutes. On the other hand, Ethereum block time is set at 14 to 15 seconds. This makes it extremely fast and great for miners. It also makes the network more efficient. According to some reports, an altcoin named as the ripple is said to be even faster coming in at 3.5 seconds. However, it is not as secure as Ethereum and less reliable as well. Several Bitcoin users have wanted this change in the system to keep up with Ethereum. However, it does not look likely that the company will introduce this change anytime soon. In fact, several other altcoins such as LiteCoin and monero are creating waves in the field of block times and making it difficult for Bitcoin users to keep up with the pace. Model The economic model of Ethereum is much different from that of Bitcoin. We already read that there can be only 21 million Bitcoins that can be mined. This means that it will be easier to keep track of the currency. On the other hand, an infinite number of Ether can be mined thereby making it difficult to keep track of it. This, however, is said not to impact the value of Ether, as the number of coins in circulation will not affect its value. It is not known as to how long it will take to mine 21 million Bitcoins. Some believe that it will take another 15 years while some think it will take 100+ years. There is news that finite ethers will be mined by the end of 2017 thereby making it a bit more stable.

If you can survive and won the battle over other millions of semen deposited alongside with you in your mothers womb, tell me why you cannot win the battle over challenges, difficulties and poverty? Friend, I know you will succeed because; you'd once done it in the womb.

In practice, the mandate proved to be easily subverted. While attractive single people may not be a majority of the population, they are a discrete (and very popular) interest group. The most beautiful people in the country descended upon Washington to lobby for votes, forming coalition organizations such as Band Against Bad Economics (BABEs). Suddenly, elected representatives throughout Washington were spotted around the city with extremely attractive dates. Within days, the mandate fine was lowered from $5,000 per year to $100, dramatically undermining the usefulness of the mandate.

Green Card Immigration and Nationalization by Green Card Organization One of the most highly sought-after visa programs ran anywhere in the world is the United State Green Card Lottery program, and for most people around the world, it is a symbol of their dreams come through - one day, to move to America. For this reason, the United State Green Card program is always filled with millions of applicants fighting for a Green Card. However, out of all these people, only about 50,000 people to make the cut yearly. Migration of people from one country to another is mainly for some reasons which range from economic motivations to reuniting with loved ones living abroad. Often in most scenario, for an immigrant to be a citizen of the new country, it is required for such to renounce their homeland and permanently leave their home country. Under the United States legal system, naturalization is the process through which an immigrant acquires U.S. citizenship. This is a major requirement for someone who was not born a citizen of the U.S. and or did not acquire citizenship shortly after birth but wishes to acquire citizenship of the united states. A person who becomes a U.S. citizen through naturalization enjoys all the freedoms and protections of citizenship just like every other citizens of the States, such as the right to vote and be voted for, to hold political offices and register, the right to hold and use a U.S. passport, and the right to serve as a jury in a court of law among other numerous benefits. Year in, year out, people apply from different nations of the world for the Green Card program. However, many people are disqualified from the DV lottery program, because they unsuccessfully submit their applications in a manner that does not comply with the United States governments requirements. It should be noted that The United States of America stands with a core principle of diversity and of giving every different person irrespective of background, race or color the same chances at success and equal opportunities. In order to forestall the rate at which intending immigrants were denied the Green Card, The Green Card Organization was established for the sole aim of providing help for those who desire to immigrate and provide them the best shot at success, and throughout the last 8 years of the existence of the Green Card Organization, the organization have helped countless number of people make their dream come through (their dream of being a part of our incredible country) GOD BLESS AMERICA! It is important to note that a small amount of mistake ranging from inconsistent information supplied or falsified identity in the application forms a major cause for automatic disqualification, therefore, it is crucial and important to make sure that the Green Card application is submitted correctly and timely. A notable remark that ought to be nurtured in the mind of every applicant is that the United States do not take a No for any mistake on your application. Therefore, the Green Card Organization is here to help simplify the processes involved for you and guarantee that your application will be submitted correctly and guarantee you 100% participation. A task that since the inception of the organization, has been their priority and has achieved her success in it at its apex.

Ocean, the future center of global trade. Why should it not prosper? Nobody can predict the future with 100 percent certainty. I’m not convinced it will happen. But I am a possibilist and these facts convince me: it is possible. The destiny instinct makes it difficult for us to accept that Africa can catch up with the West. Africa’s progress, if it is noticed at all, is seen as an improbable stroke of good fortune, a temporary break from its impoverished and war-torn destiny. The same destiny instinct also seems to make us take continuing Western progress for granted, with the West’s current economic stagnation portrayed as a temporary accident from which it will soon recover. For years after the global crash of 2008, the International Monetary Fund continued to forecast 3 percent annual economic growth for countries on Level 4. Each year, for five years, countries on Level 4 failed to meet this forecast. Each year, for five years, the IMF said, “Next year it will get back on track.” Finally, the IMF realized that there was no “normal” to go back to, and it downgraded its future growth expectations to 2 percent. At the same time the IMF acknowledged that the fast growth (above 5 percent) during those years had instead happened in countries on Level 2, like Ghana, Nigeria, Ethiopia, and Kenya in Africa, and Bangladesh in Asia. Why does this matter? One reason is this: the IMF forecasters’ worldview had a strong influence on where your retirement funds were invested. Countries in Europe and North America were expected to experience fast and reliable growth, which made them attractive to investors. When these forecasts turned out to be wrong, and when these countries did not in fact grow fast, the retirement funds did not grow either. Supposedly low-risk/high-return countries turned out to be high-risk/low-return countries. And at the same time African countries with great growth potential were being starved of investment. Another reason it matters, if you work for a company based in the old “West,” is that you are probably missing opportunities in the largest expansion of the middle-income consumer market in history, which is taking place right now in Africa and Asia. Other, local brands are already establishing a foothold, gaining brand recognition, and spreading throughout these continents, while you are still waking up to what is going on. The Western consumer market was just a teaser for what is coming next.

I believe that fading economic opportunity and mobility is a disease, and the symptoms are shame, frustration, and rage. Young people—men in particular—have already found outlets for those feelings: chat rooms on Reddit, meme stocks, and violent protests are all signs of burgeoning boredom and frustration.

Best Budget Travel Destinations Ever Are you looking for a cheap flight this year? Travel + Leisure received a list of the most affordable locations this year from one of the top travel search engines in the world, Kayak. Kayak then considered the top 100 locations with the most affordable average flight prices, excluding outliers due to things like travel restrictions and security issues. To save a lot of money, go against the grain. Mexico Unsurprisingly, Mexico is at the top of the list of the cheapest places to travel in 2022. The United States has long been seen as an accessible and affordable vacation destination; low-cost direct flights are common. San José del Cabo (in Baja California Sur), Puerto Vallarta, and Cancun are the three destinations within Mexico with the least expensive flights, with January being the most economical month to visit each. Fortunately, January is a glorious month in each of these beachside locales, with warm, balmy weather and an abundance of vibrant hues, textures, and flavors to chase away the winter blues. Looking for a city vacation rather than a beach vacation? Mexico City, which boasts a diverse collection of museums and a rich Aztec heritage, is another accessible option in the country. May is the cheapest month to travel there. Chicago, Illinois Who wants to go to Chicago in the winter? Once you learn about all the things to do in this Midwest winter wonderland and the savings you can get in January, you'll be convinced. At Maggie Daley Park, spend the afternoon ice skating before warming up with some deep-dish pizza. Colombia Colombia's fascinating history, vibrant culture, and mouthwatering cuisine make it a popular travel destination. It is also inexpensive compared to what many Americans are used to paying for items like a fresh arepa and a cup of Colombian coffee. The cheapest month of the year to fly to Bogotá, the capital city, is February. The Bogota Botanical Garden, founded in 1955 and home to almost 20,000 plants, is meticulously maintained, and despite the region's chilly climate, strolling through it is not difficult. The entrance fee is just over $1 USD. In January, travel to the port city of Cartagena on the country's Caribbean coast. The majority of visitors discover that exploring the charming streets on foot is sufficient to make their stay enjoyable. Tennessee's Music City There's a reason why bachelorette parties and reunions of all kinds are so popular in Music City: it's easy to have fun without spending a fortune. There is no fee to visit a mural, hot chicken costs only a few dollars, and Honky Tonk Highway is lined with free live music venues. The cheapest month to book is January. New York City, New York Even though New York City isn't known for being a cheap vacation destination, you'll find the best deals if you go in January. Even though the city never sleeps, the cold winter months are the best time for you to visit and take advantage of the lower demand for flights and hotel rooms. In addition, New York City offers a wide variety of free activities. Canada Not only does our neighbor Mexico provide excellent deals, but the majority of Americans can easily fly to Canada for an affordable getaway. In Montréal, Quebec, you must try the steamé, which is the city's interpretation of a hot dog and is served steamed in a side-loading bun (which is also steamed). It's the perfect meal to eat in the middle of February when travel costs are at their lowest. Best of all, hot dogs are inexpensive and delicious as well as filling. The most affordable month to visit Toronto, Ontario is February. Even though the weather may make you wary, the annual Toronto Light Festival, which is completely free, is held in February in the charming and historic Distillery District. Another excellent choice at this time is the $5 Bentway Skate Trail under the Gardiner Expressway overpass.

The world needs hands of humanness, Not tentacles of authoritarianism. The world needs the madness to make billions smile, Not the mad pursuit of billionairism.

100%原版制作學历證书【+V信1954 292 140】《伦敦政治经济学院學位證》The London School of Economics and Political Science

Property is but another characteristic of the very thing itself. The custom is contained in the thing (100)

Giants in Jeans Sonnet 22 If the world is messed up, We may not be the cause of it. But if we die leaving it the same, We are nothing but bags of wind. Society wasn't built on equity, Nor was it built on principles of justice. All was founded on exploitation of the lowly, And some modern apes still can't get over it. Till today the rich talk about equality, While flying in their private jets. Things get even more hypocritical and wacky, When they talk about climate change. However, we can still make this world better, We just have to actually start living simpler.

Giants in Jeans Sonnet 31 Progress is a messy term, Which in theory means ascension. But in practice it means serving the wealthy, And to hell with the rest of the humans! When reckless monkeys start making rockets, They behave like some fancy junkie. When nuts and bolts hypnotize the apes, Equity, justice and honor feel secondary. Traditions have been ruling human behavior, Now technology has cast a spell on society. Just like mindless traditions are dangerous, Heartless technology is injurious to humanity. Traditions and technology both can be a boon, Yet as of today, they sustain a world of fools.

Takeover Twattery (The Sonnet) Oligarchs don't even care about the welfare of their employees, And you want them to care about social welfare! Keep dreaming! Oligarchs have no regard for the struggles of human life, And you think they'll transform the world! Keep dreaming! I thought Mark was bad for not treating facebook's health issues, But the chief twat makes Zuck look like an incompetent simpleton. Oligarchs are poster boys for regress, not crusaders for freedom, Better to have a CEO without answers than one who answers to none. However, like corrupt politicians, oligarchs are made by people, If anybody is to blame it's the morons who put them in pedestal. If you had the common sense to question your pavlovian attraction, Spoiled brats could never treat society as daddy's mine of emerald. Now more than ever it is imperative to ban large scale takeovers. Moreover, it is vital to legally shun the rise of billionaires.

Better to have a CEO without answers than one who answers to none.

I worry about the effects of age-based inequality. Immigrants, like my parents, come to America so their kids can make better lives for themselves. That used to be attainable. Now young people are fed up. They have less than half of the economic security, as measured by the ratio of wealth to income, that their parents did at the same age. Their share of wealth has crashed. I believe that fading economic opportunity and mobility is a disease, and the symptoms are shame, frustration, and rage. Young people—men in particular—have already found outlets for those feelings: chat rooms on Reddit, meme stocks, and violent protests are all signs of burgeoning boredom and frustration.

Research shows that declining marriage rates lead to lower economic output, reduced happiness, and a lower birth rate. A large and growing cohort of bored, lonely, poorly educated men is a malevolent force in any society, but it’s a truly terrifying one in a society addicted to social media and awash in coarseness and guns.

A major culprit is the valuation and financing of real estate. Banks are lending for real estate on the basis of the real estate’s value. They typically lend, according to where we stand in the real estate cycle, between 80% to 100% of the value. This is because real estate is allegedly a “safe” asset. This is by itself extraordinary. First, the historic volatility of real estate prices and the history of economic cycles reveal that real estate is not a safe, but a risky asset. Its physical nature does not guarantee its value. This over-lending to real estate buyers comes at the expense of lending to small business, which necessarily captures a smaller share of lending.

The day the billions of people of earth are valued more than the billionaires, that day you shall be human.

Mark Perry, an economics professor at the University of Michigan-Flint, recently calculated that his university has nearly 100 diversity administrators, with a total cost of approximately $14 million per year, or $300 per enrolled student.

Being Self Made is a lie if it's crafted as a story sold to people. It is an illusion for those who sincerely believe they are self-made. No one is self-made. You didn't choose the family you were born in, the economic class you were born in, the country you were born in, the era you were born in, the intelligence level you have, the special talent you are born with, the early education you got, the mentoring you received, your level of ambition, your macro-economic environment, being at the right place at the right time or generally having unexpected things turn in your favor. I will argue that even if you say you came from an extremely poor background and have worked extremely hard to achieve your success and you deserve 100 percent credit, even that is a partially false statement, as you have been lucky to see your hard work pay off (in some cases, exponentially)

Understanding consumer preferences, market trends, and business opportunities all depend on market research. However, a nuanced approach is required when conducting market research survey in Myanmar. Participation in surveys and the quality of the data can be significantly influenced by cultural norms, beliefs, and practices. The challenges and opportunities of conducting surveys in this one-of-a-kind cultural landscape are brought to light in this article, which examines the intricate connection between culture and market research in Myanmar. Researchers can gain valuable insights for informed decision-making and successful market strategies by comprehending and adapting to Myanmar's cultural nuances. Introduction to market research survey in Myanmar is a country with a lot of culture and tradition that makes it a special place to conduct market research. Understanding the cultural nuances that influence survey participation is essential for businesses trying to comprehend consumer preferences and behaviors in this diverse market. An Overview of Myanmar's Market Research Landscape Market research is rapidly evolving in Myanmar in tandem with the country's economic expansion. In order to gain useful insights from surveys, it is necessary to have a comprehensive comprehension of the cultural dynamics of a population with a wide range of languages and ethnic groups. Understanding How Culture Affects Survey Participation Culture has a big impact on how people respond to market research surveys. Survey response rates can be influenced by interpersonal dynamics, social norms, and traditional beliefs in Myanmar. Cultural Factors That Affect Survey Response Rates People's responses to surveys can be influenced by factors like respect for authority, communal decision-making, and communication styles. The key to maximizing survey participation is recognizing and adapting to these cultural differences. The willingness of respondents to participate in surveys can be influenced by traditional beliefs and practices like face-saving behaviors, hierarchical structures, and superstitions. Researchers can create survey environments that are conducive to honest and valuable feedback by recognizing and respecting these traditional beliefs. Tailoring Survey Designs to Match Cultural Preferences in Myanmar To guarantee the success of market research surveys in Myanmar, survey designs must be adapted to match cultural norms and preferences. In addition to increasing respondent engagement, this strategy encourages inclusivity and a respect for local customs. Adjusting Poll Arrangement for Social Awareness From the language utilized in study inquiries to the visual plan of overview materials, social responsiveness ought to be a core value in forming review surveys. Researchers can increase respondent trust and openness by avoiding potential taboos and including references that are culturally relevant. Respecting local customs, such as greeting rituals, gift-giving practices, and preferred modes of communication, can increase respondents' willingness to participate in surveys by incorporating them into the design of the survey. Researchers can create a more engaging and culturally appropriate research experience by incorporating these elements into survey design. Overcoming Language Barriers in Market Research Surveys Myanmar's language diversity makes conducting market research surveys a significant challenge. Language barriers must be overcome and multilingual survey administration must be promoted in order to ensure effective communication and data collection. Challenges of Myanmar's Language Diversity With over 100 languages spoken there, language barriers can make it hard to take surveys and understand them. Utilizing survey materials that are suitable for a particular language and, if necessary, the services of an interpreter, researchers must overcome these obstacles. The use of bilingual survey

Certainly there is no limit to taxation if the benefits derived from public services by society measure up to the cost in taxation.”2 As cited in the quotation at the beginning of this chapter, Obama Sr. is even willing to consider tax rates up to 100 percent! It’s remarkable that this paper by Obama Sr. has gotten so little media coverage. One would expect it to be on the front page of every newspaper and a lead item on the evening news, especially during public debates in America over taxes and massive government intervention in the health care and financial sectors. Notice the two-part economic strategy proposed by Obama Sr.: forced state control over private enterprise, and confiscatory tax rates with no upper limit. We will find it instructive to compare this to President Obama’s economic policies. For example, President Obama frequently talks about people being forced to pay their “fair share” in taxes, but he never specifies what that share is. Here, we have a document that explicitly states his father’s thoughts on the subject and may provide some guidance to the son’s own thinking. Yet for many in the media, these father-son comparisons are completely taboo. For them, it seems, the ghost of Barack Obama Sr. must be quietly ignored, so it cannot be seen haunting the corridors of 1600 Pennsylvania Avenue.

Cho and Chung of UCLA locate the source of jeong in the intensely “collective nature of Korean society.” South Korea scores 18 points out of 100 on Professor Geert Hofstede’s Individualism Index in comparison to the United States’ ranking of 91 and Japan’s of 46, making it one of the world’s most collective or group-oriented nations.

as the Russians press on the Poles from the east, the Germans won’t have an appetite for a third war with Russia. The United States, however, will back Poland, providing it with massive economic and technical support.