Fixed Price Quotes

Cheap grace means grace sold on the market like cheapjacks' wares. The sacraments, the forgiveness of sin, and the consolations of religion are thrown away at cut prices. Grace is represented as the Church's inexhaustible treasury, from which she showers blessings with generous hands, without asking questions or fixing limits. Grace without price; grace without cost! The essence of grace, we suppose, is that the account has been paid in advance; and, because it has been paid, everything can be had for nothing. Since the cost was infinite, the possibilities of using and spending it are infinite. What would grace be if it were not cheap?... Cheap grace is the preaching of forgiveness without requiring repentance, baptism without church discipline, Communion without confession, absolution without personal confession. Cheap grace is grace without discipleship, grace without the cross, grace without Jesus Christ, living and incarnate. Costly grace is the treasure hidden in the field; for the sake of it a man will go and sell all that he has. It is the pearl of great price to buy which the merchant will sell all his goods. It is the kingly rule of Christ, for whose sake a man will pluck out the eye which causes him to stumble; it is the call of Jesus Christ at which the disciple leaves his nets and follows him. Costly grace is the gospel which must be sought again and again, the gift which must be asked for, the door at which a man must knock. Such grace is costly because it calls us to follow, and it is grace because it calls us to follow Jesus Christ. It is costly because it costs a man his life, and it is grace because it gives a man the only true life. It is costly because it condemns sin, and grace because it justifies the sinner. Above all, it is costly because it cost God the life of his Son: "ye were bought at a price," and what has cost God much cannot be cheap for us. Above all, it is grace because God did not reckon his Son too dear a price to pay for our life, but delivered him up for us. Costly grace is the Incarnation of God.

Do you want to set fire to the whole world and burn with it? Let’s do it together. You fix the price.

When life backs you into a corner and offers you no escape, when your friends, your lover, and your family abandon you, when you're at the end of your rope, panicked, alone, and losing your mind, you know you'd give anything to make your problems go away. Then, desperate and eager, you will come to Unicorn Lane, seeking salvation in its magics and secrets. You'll do anything, pay any price. Unicorn Lane will take you in, shroud you in its power, fix your problems, and exact its price. And then you will learn what 'anything' really means.

All conservative ideologies justify existing inequities as the natural order of things, inevitable outcomes of human nature. If the very rich are naturally so much more capable than the rest of us, why must they be provided with so many artificial privileges under the law, so many bailouts, subsidies and other special considerations - at our expense? Their "naturally superior talents" include unprincipled and illegal subterfuge such as price-fixing, stock manipulation, insider training, fraud, tax evasion, the legal enforcement of unfair competition, ecological spoliation, harmful products and unsafe work conditions. One might expect naturally superior people not to act in such rapacious and venal ways. Differences in talent and capacity as might exist between individuals do not excuse the crimes and injustices that are endemic to the corporate business system.

It is not in our hands to prevent the murder of workers… and families… but it is in our hands to fix a high price for our blood, so high that the Arab community and the Arab military forces will not be willing to pay it.

As soon as the land of any country has all become private property, the landlords, like all other men, love to reap where they never sowed, and demand a rent even for its natural produce. The wood of the forest, the grass of the field, and all the natural fruits of the earth, which, when land was in common, cost the labourer only the trouble of gathering them, come, even to him, to have an additional price fixed upon them. He must then pay for the licence to gather them, and must give up to the landlord a portion of what his labour either collects or produces. This portion, or, what comes to the same thing, the price of this portion, constitutes the rent of land, and in the price of the greater part of commodities, makes a third

What is there to see if I go outside? Don't tell me. I know. I can see other people. I don't want to see other people. They look awful. The men look like slobs and the women look like men. The men have mush faces framed by long hair and the women have big noses, big jaws, big heads, and stick-like bodies. That depresses me. Its no fun to people-watch anymore because there's so little variety in types. You say it's good to get a change of scenery. What scenery? New buildings? New cars? New freeways? New shopping malls? Go to the woods or a park? I saw a tree once. The new ones look the same, which is fine. I even remember what the old ones look like. My memory isn't that short. But it's not worth going to see a squirrel grab a nut, or fish swimming around in a big tank if I must put up with the ugly contemporary human pollution that accompanies each excursion. The squirrel may enliven me and remind me of better vistas but the price in social interaction isn't worth it. If, on my way to visit the squirrel, I encounter a single person who gains stimulation by seeing me, I feel like I have given more than I've received and I get sore. If every time I go somewhere to see a fish swimming, I become someone else's stimulation, I feel shortchanged. I'll buy my own fish and watch it swim. Then, I can watch the fish, the fish can watch me, we can be friends, and nobody else interferes with the interaction, like trying to hear what the fish and I are talking about. I won't have to get dressed a certain way to visit the fish. I needn't dress the way my pride dictates, because who's going to see me? I needn't wear any pants. The fish doesn't care. He doesn't read the tabloids. But, if I go out to see a fish other than my own, I'm right back where I started: entertaining others, which is more depleting than visiting the new fish is entertaining. Maybe I should go to a coffee house. I find no stimulation in watching ordinary people trying to put the make on other uninteresting people. I can fix my own cup of coffee and not have to look at or talk to other people. No matter where I go, I stimulate others, and have been doing so all my life. It used to be I'd sometimes get stimulated back.

It means that your birth, with all your particulars, is a wildly improbable event, and hence precious. You won the sweepstakes by being born at all. Think of all the wallflower sperm and egg cells. You made it, buddy. Whew! What a staggering wonder! What a thing to rejoice in! The lottery wasn't fixed! God didn't rig it! You won fair and square! What a miracle!

You will think me rhapsodizing; but when I am out of doors, especially when I am sitting out of doors, I am very apt to get into this sort of wondering strain. One cannot fix one's eyes on the commonest natural production without finding food for a rambling fancy.

Why would you introduce me to your family? Won’t they wonder what happened, when we finally…?” His eyes fixed on mine, serious, sincere. “Because you asked me and I wanted to show you.” “Asked you what?” “You asked me who I love. They’re who I love.

Our fellow men are black magicians. And whoever is with them is a black magician on the spot. Think for a moment, can you deviate from the path that your fellow men have lined up for you? And if you remain with them, your thoughts and your actions are fixed forever in their terms. That is slavery. The warrior, on the other hand, is free from all that. Freedom is expensive, but the price is not impossible to pay. So, fear your captors, your masters. Don't waste your time and your power fearing freedom.

I think Bob appreciated my outfit. He made me buy the more expensive pendant. You might think that was to my disadvantage, but I accept that status comes with a price.” “Not usually so immediately.” I shake my head. “You better not be hitting on federal agent ladies. They’ll arrest you.” His grin widens. “I like handcuffs.” I groan. “There is something seriously wrong with you.” “Nothing that a night being worked over by a hot representative of justice couldn’t fix.

[T]he enduring problem for liberals, as for everyone else, is not whether history will judge them wise or foolish regarding the war on terrorism; it is, rather, the way that the past decade has splintered them away from other Americans. This fracture comes with a steep price: in today's toxic atmosphere, liberals are no less cynical, shortsighted, and parochial than anyone else, and they understand their fellow-Americans just as badly as they themselves are understood. When liberals look at red-state voters, they see either a mob of pious know-nothings or the insensible victims of militarism and class warfare. Yet.... [such people] defy fixed categories, which means that they have to be figured out the hard way--on their own terms.

The best I ever got was that woman who kept having me come up to fix her TV. There was a lot of bending involved. I felt used and dirty. It’s the price you pay for being one of those weedy but good-looking types, Scarlett said. Weedy? You hurt me. I prefer tall and scrawny. Unlike my partner, who’s right behind you.

I purposefully abstain from dates on this occasion,that very one may be liberty to fix their own,aware that the cure of unconquerable passions,and the transfer of unchanging attachments,must vary much as to time in different people.---I only entreat every body to believe that exactly at the time when it was quite natural that it should be so, and not a week earlier,Edmund did cease to care about Miss Crawford, and become anxious to marry Fanny,as Fanny herself could desire.

What makes this inner void so difficult to deal with is that it's amorphous. We can't fix it because we can't pinpoint its precise cause. And even if we could, we wouldn't be able to banish it. It's the price we pay for being human.

He is blinded and nothing will open his eyes,nothing can,after having had truths so long before him in vain.--He will marry her and poor and miserable.God grant that her influence do not make him cease to be respectable!"---She looked over the letter again."So very fond of me!tis"nonsense all.She loves nobody but herself and her brother.Her friends leading her astray for years!She is quite as likely to have led them astray. They have all,perhaps, been corrupting one another;but if they are so much fonder of her than she is of them,she is the less likely to have been hurt except by their flattery.The only woman in the world,whom he could ever think of as a wife.....I firmly believe it.It is an attachment to govern his whole life. Accepted or refused,his heart is wedded to her for ever.The loss of Mary,I must consider as comprehending the loss of Crawford and Fanny.Edmund you do not know me.The families would never be connected,if you did not connected them. Oh!write,write.Finish it at once.Let there be an end of this suspense.Fix, commit,condemn yourself."-Fanny Price

ECONOMIC RULES OF THE DYSFUNCTIONAL MEDICAL MARKET More treatment is always better. Default to the most expensive option. A lifetime of treatment is preferable to a cure. Amenities and marketing matter more than good care. As technologies age, prices can rise rather than fall. There is no free choice. Patients are stuck. And they’re stuck buying American. More competitors vying for business doesn’t mean better prices; it can drive prices up, not down. Economies of scale don’t translate to lower prices. With their market power, big providers can simply demand more. There is no such thing as a fixed price for a procedure or test. And the uninsured pay the highest prices of all. There are no standards for billing. There’s money to be made in billing for anything and everything. Prices will rise to whatever the market will bear.

The realms of dating, marriage, and sex are all marketplaces, and we are the products. Some may bristle at the idea of people as products on a marketplace, but this is an incredibly prevalent dynamic. Consider the labor marketplace, where people are also the product. Just as in the labor marketplace, one party makes an offer to another, and based on the terms of this offer, the other person can choose to accept it or walk. What makes the dating market so interesting is that the products we are marketing, selling, buying, and exchanging are essentially our identities and lives. As with all marketplaces, every item in stock has a value, and that value is determined by its desirability. However, the desirability of a product isn’t a fixed thing—the desirability of umbrellas increases in areas where it is currently raining while the desirability of a specific drug may increase to a specific individual if it can cure an illness their child has, even if its wider desirability on the market has not changed. In the world of dating, the two types of desirability we care about most are: - Aggregate Desirability: What the average demand within an open marketplace would be for a relationship with a particular person. - Individual Desirability: What the desirability of a relationship with an individual is from the perspective of a specific other individual. Imagine you are at a fish market and deciding whether or not to buy a specific fish: - Aggregate desirability = The fish’s market price that day - Individual desirability = What you are willing to pay for the fish Aggregate desirability is something our society enthusiastically emphasizes, with concepts like “leagues.” Whether these are revealed through crude statements like, “that guy's an 8,” or more politically correct comments such as, “I believe she may be out of your league,” there is a tacit acknowledgment by society that every individual has an aggregate value on the public dating market, and that value can be judged at a glance. When what we have to trade on the dating market is often ourselves, that means that on average, we are going to end up in relationships with people with an aggregate value roughly equal to our own (i.e., individuals “within our league”). Statistically speaking, leagues are a real phenomenon that affects dating patterns. Using data from dating websites, the University of Michigan found that when you sort online daters by desirability, they seem to know “their place.” People on online dating sites almost never send a message to someone less desirable than them, and on average they reach out to prospects only 25% more desirable than themselves. The great thing about these markets is how often the average desirability of a person to others is wildly different than their desirability to you. This gives you the opportunity to play arbitrage with traits that other people don’t like, but you either like or don’t mind. For example, while society may prefer women who are not overweight, a specific individual within the marketplace may prefer obese women, or even more interestingly may have no preference. If a guy doesn’t care whether his partner is slim or obese, then he should specifically target obese women, as obesity lowers desirability on the open marketplace, but not from his perspective, giving him access to women who are of higher value to him than those he could secure within an open market.

There is no room at all for independent enterprise under any variety of State Socialism. Prices are to be regulated authoritatively; authority is to fix what is to be produced, and how, and in what quantities. There is to be no speculation, no 'excessive' profit, no loss. There is to be no innovation unless it be decreed by authority. The official is to direct and supervise everything.

It's not appropriate," Tessa said to her husband, Will. "He likes it." "Children like all sorts of things, Will. They like sweets and fire and trying to stick their head up the chimney. Just because he likes the dagger..." "Look how steadily he holds it." Little James Herondale, age two, was in fact holding a dagger quite well. He stabbed it into a sofa cushion, sending out a burst of feathers. "Ducks," he said, pointing at the feathers. Tessa swiftly removed the dagger from his tiny hands and replaced it with a wooden spoon. James had recently become very attached to this wooden spoon and carried it with him everywhere, often refusing to go to sleep without it. "Spoon," James said, tottering off across the parlor. "Where did he find the dagger?" Tessa asked. "It's possible I took him to the weapons room," Will said. "Is it?" "It is, yes. It's possible." "And it's possible he somehow got a dagger from where it is secured on the wall, out of his reach," Tessa said. "We live in a world of possibilities," Will said. Tessa fixed a gray-eyed stare on her husband. "He was never out of my sight," Will said quickly. "If you could manage it," Tessa said, nodding to the sleeping figure of Lucie Herondale in her little basket by the fire, "perhapds you won't give Lucie a broadsword until she's actually able to stand? Or is that asking too much?" "It seems a reasonable request," Will said, with an extravagant bow. "Anything for you, my pearl beyond price. Even withholding weaponry from my only daughter.

Those who seek power at any price detect a societal weakness, a fear that they can ride into office. It could be ethnic differences, as it was then, perhaps different amounts of melanin in the skin; different philosophies or religions; or maybe it’s drug use, violent crime, economic crisis, school prayer, or “desecrating” (literally, making unholy) the flag. Whatever the problem, the quick fix is to shave a little freedom off the Bill of Rights.

This is the war where we change. This is the trickster war. It's where we disappear, just like they desire us disappear. I spoke it you before: They wish us blank," he said, gesturing without thinking at Dr. Trefusis, who was the nearest exemplar of the white race. "They want us with no history and no memory. They want us empty as paper so they can write on us, so we ain't nothing but a price and an owner's name and a list of tasks. And that's what we'll give them. We'll give them your Nothing. We'll give them my William Williams and Henry Henry. We'll slip through and we'll change to who we must needs be and I will be all sly and have my delightful picaresque japes. But at the end of it, when it's over, I shall be one thing. I shall be one man, fixed, and not have to take no other name. I shall be one person steadily for some years." "This is why we got to win...If we ever wish to be one person, we got to win.

It is part of the price the Negro pays for his position in this society that, as Richard Wright points out, he is almost always acting. A Negro learns to gauge precisely what reaction the alien person facing him desires, and he produces it with disarming artlessness. The friends I had, growing up and going to work, grew more bitter every day; and, conversely, they learned to hide this bitterness and to fit into the pattern Gentile and Jew alike had fixed for them.

What you write down becomes fixed. It takes on the constraints of any tangible entity. It collapses into a reality estranged from the realm of its creation. It's a marker. A roadsign. You have stopped to get your bearings, but at a price. You'll never know where it might have gone if you'd left it alone to go there.

Liberals are willing to believe that these "robber barons" will fix prices, rig markets, establish monopolies, buy politicians, exploit employees and fire them the day before they are eligible for pensions, but they absolutely will not believe that these same men would want to rule the world or would use Communism as the striking edge of their conspiracy. When one discusses the machinations of these men, Liberals usually respond by saying, "But don't you think they mean well?

Religion ... imposes equally on everyone its own path to the acquisition of happiness and protection from suffering. Its technique consists in depressing the value of life and distorting the picture of the real world in a delusional manner – which presupposes an intimidation of the intelligence. At this price, by forcibly fixing them in a state of psychical infantilism and by drawing them into a mass-delusion, religion succeeds in sparing many people an individual neurosis. But hardly anything more.

I knew that feeling, the sense of panic that stretched time, turning seconds into years, and the deep pain that came from being hurt by not one person but many, a gang of bullies that expanded into a neighborhood and then into a community, until you questioned the whole world. And your last thought, as you stretch your arm until your fingers are inches from that lifeline, is how if you survive, you'll find a way to help fix what was broken, so you can say that yes, you want to be part of the world again.

It is typical of government price-fixing schemes that they escape one undesired consequence only by plunging into another and usually worse one.

Tis in vain therefore to go about effectually to reduce the price of Interest by a Law; and you may as rationally hope to set a fixt Rate upon the Hire of Houses, or Ships, as of Money.

The traditional fixed-rate 30-year mortgages, which were once a majority of all mortgages, were no longer a majority during the housing boom, as ARMs and other “creative” ways of financing the purchase of a home grew rapidly to cope with soaring housing prices. Such innovative mortgages quickly went from being rare to becoming common, especially in places with very high housing costs.

From the perspective of society as a whole, there is no fixed or objective need aside from those broad categories required for survival. Rarely, if ever, is there a fixed quantity or definite quality demanded. This is why the needs of individuals are best met by other individuals according to supply, demand, and the price mechanism. And this is why most of the needs of individuals cannot be met only by central government.

Jim purchased a brand-new book called How to Fix Damn Near Anything. In horror I discovered a $15.95 price tag on the inside of the jacket. Upon interrogation he confessed that he purchased it at the thrift shop for $.25.

Power, according to Hobbes, is the accumulated control that permits the individual to fix prices and regulate supply and demand in such a way that they contribute to his own advantage. The individual will consider his advantage in complete isolation, from the point of view of an absolute minority, so to speak; he will then realize that he can pursue and achieve his interest only with the help of some kind of majority. Therefore, if man is actually driven by nothing but his individual interests, desire for power must be the fundamental passion of man. It regulates the relations between individual and society, and all other ambitions as well, for riches, knowledge, and honor follow from it.

My thoughts shift to my friends. I'd been so angry with them for grabbing my pain from me in the wake of the News. But maybe my friends were loving me the best way they knew how, just like I was trying to love Amma. We think our job as humans is to avoid pain, our job as parents is to protect our children from pain, and our job as friends is to fix each other's pain. Maybe that's why we all feel like failures so often--because we all have the wrong job description for love. What my friends didn't know about me and I didn't know about Amma is that people who are hurting don't need Avoiders, Protectors, or Fixers. What we need are patient, loving witnesses. People to sit quietly and hold space for us. People to stand in helpless vigil to our pain. There on the floor, I promise myself that I'll be that kind of mother, that kind of friend. I'll show up and stand humble in the face of a loved one's pain. I'll admit I'm as empty-handed, dumbstruck, and out of ideas as she is. I won't try to make sense of things or require more than she can offer. I won't let my discomfort with her pain keep me from witnessing it for her. I'l never try to grab or fix her pain, because I know that for as long as it takes, he pain will also be her comfort. It will be all she has left. Grief is love's souvenir. It's our proof that we once loved. Grief is the receipt we wave in the air that says to the world: Look! Love was once mine. I loved well. Here is my proof that I paid the price. So I'll just show up and sit quietly and practice not being God with her. I'm so sorry, I'll say. Thank you for trusting me enough to invite me close. I see your pain and it's real. I'm so sorry.

One of the gabelle’s most irritating inventions was the sel du devoir, the salt duty. Every person in the Grande Gabelle over the age of eight was required to purchase seven kilograms (15.4 pounds) of salt each year at a fixed high government price. This was far more salt than could possibly be used, unless it was for making salt fish, sausages, hams, and other salt-cured goods. But using the sel du devoir to make salted products was illegal, and, if caught, the perpetrator would be charged with the crime of faux saunage, salt fraud, which carried severe penalties. Many simple acts were grounds for a charge of faux saunage. In the Camargue, shepherds who let their flocks drink the salty pond water could be charged with avoiding the gabelle.

Bottled water is another example. Free, high-quality water is available in much of the developed world. But the developed world is exactly where the majority of bottled water is consumed. In 2012, in the U.S. alone, we spent $11.8 billion dollars on bottled water. Because packaging is a fixed price and water is a low-priced com- modity, what exactly are we paying the rest of the money for? The answer is that much of the value is tied up in the brand, the idea, how it makes you feel, the creativity.

...Not yet dry behind the ears, not old enough to buy a beer, but old enough to die for his country. He can recite to you the nomenclature of a machine gun or grenade launcher and use either one effectively if he must. He digs foxholes and latrines and can apply first aid like a professional. He can march until he is told to stop, or stop until he is told to march. He obeys orders instantly and without hesitation, but he is not without spirit or individual dignity. He is self-sufficient. ...He sometimes forgets to brush his teeth, but never to clean his rifle. He can cook his own meals, mend his own clothes, and fix his own hurts. If you're thirsty, he'll share his water with you; if you are hungry, food. He'll even split his ammunition with you in the midst of battle when you run low. He has learned to use his hands like weapons and weapons like they were his hands. He can save your life-or take it, because that is his job. He will often do twice the work of a civilian, draw half the pay, and still find ironic humor in it all. He has seen more suffering and death than he should have in his short lifetime. He has wept in public and in private, for friends who have fallen in combat and is unashamed. He feels every note of the National Anthem vibrate through his body while at rigid attention, while tempering the burning desire to "square-away" those around him who haven't bothered to stand, remove their hat, or even stop talking. ...Just as did his father, grandfather, and great-grandfather, he is paying the price for our freedom. Beardless or not, he is not a boy. He is the American Fighting Man that has kept this country free for over two hundred years. He has asked nothing in return, except our friendship and understanding. Remember him, always, for he has earned our respect and admiration with his blood. And now we have women over there in danger, doing their part in this tradition of going to war when our nation calls us to do so. As you go to bed tonight, remember this. A short lull, a little shade, and a picture of loved ones in their helmets.

There was a particular hostility to anything that smacked of price-fixing. One much-repeated story held that the Prophet himself had refused to force merchants to lower prices during a shortage in the city of Medina, on the grounds that doing so would be sacrilegious, since, in a free-market situation, “prices depend on the will of God.”82 Most legal scholars interpreted Mohammed’s decision to mean that any government interference in market mechanisms should be considered similarly sacrilegious, since markets were designed by God to regulate themselves.

The first people to get the new money are the counterfeiters, which they use to buy various goods and services. The second receivers of the new money are the retailers who sell those goods to the counterfeiters. And on and on the new money ripples out through the system, going from one pocket or till to another. As it does so, there is an immediate redistribution effect. For first the counterfeiters, then the retailers, etc. have new money and monetary income they use to bid up goods and services, increasing their demand and raising the prices of the goods that they purchase. But as prices of goods begin to rise in response to the higher quantity of money, those who haven't yet received the new money find the prices of the goods they buy have gone up, while their own selling prices or incomes have not risen. In short, the early receivers of the new money in this market chain of events gain at the expense of those who receive the money toward the end of the chain, and still worse losers are the people (e.g., those on fixed incomes such as annuities, interest, or pensions) who never receive the new money at all.

Value is determined by individual buyers and sellers. There is no item or service which has a fixed or definite value. Because circumstances, scenarios, and objectives vary indefinitely; value also varies indefinitely. Peacoats are very valuable to people in Michigan, but have much less value to the residents of Texas. The reason why is simply because it gets much colder more often in Michigan than it does in Texas, and coats of any kind are rarely required in the warm climate of Texas. If a regulator were to say that sellers in Michigan can not sell peacoats for a higher price than they are sold in Texas, they would be perverting the market. Without price fixing, the price for peacoats would likely be higher in Michigan simply because the demand for that product is higher there. Value is subjective in the same way that needs are subjective

I twirl away, then back to him, staying on my toes, my hips always lightly rotating. He reacts clumsily at first, but soon the awkwardness fades away and he begins matching my movements, reflecting them in reverse. We dance like this, wrist to wrist, twirl and turn, step for step, for several more minutes. He holds my gaze, our eyes connecting at every turn, anticipating one another’s movements. His pulse is so strong against my wrist that it echoes through me, almost like a heartbeat of my own. My skin warms; my breath catches in my throat. I know how closely I dance along the line of destruction, but I cannot pull myself away. He is intoxicating, his force of life an addiction I cannot refuse. I have not felt this alive in centuries, not since you, Habiba, when you taught me the dance of Fahradan. Ours was a dance of giddy laughter, a dance of friends, sisters, a dance of life and youth and hope. But this dance is different. It is not I but he who entices, reversing the ancient roles of the dance. And I resist because I must, because if I don’t, because if I give in to the all-too-human desires racing through me—then it is Aladdin who will pay the terrible price. “Stop.” I drop my wrists and step away, and he does the same, still caught up in mirroring me. Except that he is breathing heavily, his chest rising and falling with exertion, his eyes filled with a strange, wondrous, curious look as he stares at me. He moves closer, his eyes fixed on mine, and despite myself I cannot look away. Aladdin raises a tentative hand to my cheek. Immobile with both dread and longing, I can only stare up at him, flushing with warmth when he gently runs his hand down the side of my face. I shut my eyes, leaning into his touch just slightly, my stomach leaping. Longing. Wishing.

I guess that I have been thinking about how graceful you were, and although it is none of my business, I wondered whether you might not be paying a price for being that way. . . . People want to have an easy fix on other people, and since you are Cindi Coeur, it's easy to assume that someone who satirizes our shortcomings has set herself above us.

My approach is completely different. I approach complicated problems such as how to provide health care for most Americans at a price we can afford the same way I solve the toughest business problems. We should hire the most knowledgeable people in the world on this subject and lock them in a room—and not unlock the door until they’ve agreed on the steps we need to take.

The same reasons apply to unions. Industry-wide price-fixing causes economic dislocations? So does industry-wide wage-fixing. A wage that is appropriate in one part of the country may not be in another area where economic conditions are very different. Corporate monopolies impair the operation of the free market, and thus injure the consuming public. So do union monopolies.

As soon as the land of any country has all become private property, the landlords, like all other men, love to reap where they never sowed, and demand a rent even for its natural produce. The wood of the forest, the grass of the field, and all the natural fruits of the earth, which, when land was in common, cost the labourer only the trouble of gathering them, come, even to him, to have an additional price fixed upon them. He must then pay for the licence to gather them, and must give up to the landlord a portion of what his labour either collects or produces. This portion, or, what comes to the same thing, the price of this portion, constitutes the rent of land, and in the price of the greater part of commodities, makes a third component part.

The government desires to purchase; it desires to use the market, not to disorganize it. But the officially-fixed price does disorganize the market in which commodities and services are bought and sold for money. Commerce, so far as it is able, seeks relief in other ways. It re-develops a system of direct exchange, in which commodities and services are exchanged without the instrumentality of money. Those who are forced to dispose of commodities and services at the fixed prices do not dispose of them to everybody, but merely to those to whom they wish to do a favour. Would-be purchasers wait in long queues in order to snap up what they can get before it is too late; they race breathlessly from shop to shop, hoping to find one that is not yet sold out.

The Qur’an promoted work and trade and defined commercial profit as “God’s bounty.”38 The Prophet, himself a merchant, is on the record with such sayings as: “He who makes money pleases God.”39 He is also known to have rejected calls for price-fixing, noting that only God governs the market.40 “Muhammad,” as French historian Maxime Rodinson succinctly put it, “was not a socialist.

Takes them less than a week to run the Line thro’ somebody’s House. About a mile and a half west of the Twelve-Mile Arc, twenty-four Chains beyond Little Christiana Creek, on Wednesday, April 10th, the Field-Book reports, “At 3 Miles 49 Chains, went through Mr. Price’s House.” “Just took a wild guess,” Mrs. Price quite amiable, “where we’d build it,— not as if my Husband’s a Surveyor or anything. Which side’s to be Pennsylvania, by the way?” A mischievous glint in her eyes that Barnes, Farlow, Moses McClean and others will later all recall. Mr. Price is in Town, in search of Partners for a Land Venture. “Would you Gentlemen mind coming in the House and showing me just where your Line does Run?” Mason and Dixon, already feeling awkward about it, oblige, Dixon up on the Roof with a long Plumb-line, Mason a-squint at the Snout of the Instrument. Mrs. Price meantime fills her Table with plates of sour-cherry fritters, Neat’s-Tongue Pies, a gigantick Indian Pudding, pitchers a-slosh with home-made Cider,— then producing some new-hackl’d Streaks of Hemp, and laying them down in a Right Line according to the Surveyors’ advice,— fixing them here and there with Tacks, across the room, up the stairs, straight down the middle of the Bed, of course, . . . which is about when Mr. Rhys Price happens to return from his Business in town, to find merry Axmen lounging beneath his Sassafras tree, Strange Stock mingling with his own and watering out of his Branch, his house invaded by Surveyors, and his wife giving away the Larder and waving her Tankard about, crying, “Husband, what Province were we married in? Ha! see him gape, for he cannot remember. ’Twas in Pennsylvania, my Tortoise. But never in Maryland. Hey? So from now on, when I am upon this side of the House, I am in Maryland, legally not your wife, and no longer subject to your Authority,— isn’t that right, Gents?” “Ask the Rev,” they reply together,

like a stormy sea at best. 81. Making Cents of It All With over 1,500 projects under my belt as a freelancer and business owner, saying that I’ve experimented with pricing structures may be the understatement of the year. In my early years, nearly everything was based on a fixed bid. As my client list grew, I began landing some hourly gigs, retainers, and some dedicated resource structures. Each of these pricing structures has pros and cons, for you as a designer as well as for your client. Understanding these pricing structures, explaining them clearly to your clients, and choosing the right one for the job can make the difference between a blissful client experience and your worst nightmare. Fixed Bid Fixed-bid pricing is a set scope of work with a fixed price. You tell

The first port of call was the Americans. In 1974, an initial agreement was reached by which the US agreed to sell two reactors, as well as enriched uranium, to Iran. The scope of the arrangement was expanded further in 1975, when a $15 billion trade deal was agreed between the two countries, which included provision for Iran to purchase eight reactors from the United States at a fixed price of $6.4 billion.55 The following year, President Ford approved a deal that allowed Iran to buy and operate a US-built system that included a reprocessing facility that could extract plutonium from nuclear reactor fuel, and therefore enable Teheran to operate a ‘nuclear fuel cycle’. President Ford’s Chief of Staff had no hesitation in approving this sale: in the 1970s, Dick Cheney did not find it difficult to ‘figure out’ what Iran’s motivations were.

Lower prices led to more customer visits. More customers increased the volume of sales and attracted more commission-paying third-party sellers to the site. That allowed Amazon to get more out of fixed costs like the fulfillment centers and the servers needed to run the website. This greater efficiency then enabled it to lower prices further. Feed any part of this flywheel, they reasoned, and it should accelerate the loop.

For it is the very commodities selected for maximum price-fixing that the regulators most want to keep in abundant supply. But when they limit the wages and the profits of those who make these commodities, without also limiting the wages and profits of those who make luxuries or semiluxuries, they discourage the production of the price-controlled necessities while they relatively stimulate the production of less essential goods.

Around this time, McDonald’s had conceived of a new product, the Chicken McNugget, but they were reluctant to bring it to market because of their concern that chicken prices might rise and squeeze their profit margins. Chicken producers like Lane wouldn’t agree to sell to them at a fixed price because they were worried that their costs would go up and they would be squeezed. As I thought about the problem, it occurred to me that in economic terms a chicken can be seen as a simple machine consisting of a chick plus its feed. The most volatile cost that the chicken producer needed to worry about was feed prices. I showed Lane how to use a mix of corn and soymeal futures to lock in costs so they could quote a fixed price to McDonald’s. Having greatly reduced its price risk, McDonald’s introduced the McNugget in 1983. I felt great about helping make that happen.

Danny should have been elated: Everything they had thought might happen was now happening. He wasn’t elated, however; he was anxious. At 10:30, an hour into trading, every financial stock went into a free fall, whether it deserved to or not. “All this information goes through me,” he said. “I’m supposed to know how to transmit information. Prices were moving so quickly I couldn’t get a fix. It felt like a black hole. The abyss.” It

Natural gas, even more than oil, had become Russia’s most powerful tool in foreign policy. Oil trades freely, sloshing through the world’s economy; gas requires fixed pipelines, linking the nations of Europe to Russia. The network of pipelines, dating to the Soviet era, gave Russia clout and, with rising energy prices, the prospect of the wealth that Putin nearly a decade before had argued in his dissertation was the core of the state’s power. Ukraine,

The basic reason for Germany’s lack of competitiveness, however, was not political in this crude sense. The basic problem was the uncompetitive exchange rate of the Reichsmark. As we have seen, this fundamental misalignment had first emerged in the autumn of 1931 after the devaluation of sterling. The second shock had come in April 1933 with the devaluation of the dollar. By 1933 only 20 per cent of world trade was still conducted between countries with currencies fixed in terms of gold. Germany’s failure to follow this trend meant that the prices of its exports, translated at the official exchange rate of the Reichsmark, were grossly uncompetitive. This was not a matter of particular industries or sectors. It was not a matter of high wages, or excessive taxes and social levies. At prevailing exchange rates, the entire system of prices and wages in Germany was out of line with that prevailing in most of the rest of the world economy.

The oldest and most popular instrument of etatistic monetary policy is the official fixing of maximum prices. High prices, thinks the etatist, are not a consequence of an increase in the quantity of money, but a consequence of reprehensible activity on the part of 'bulls' and 'profiteers'; it will suffice to suppress their machinations in order to ensure the cessation of the rise of prices. Thus it is made a punishable offence to demand, or even to pay, 'excessive' prices.

Lucinda might sneak from her own house at midnight to place a wager somewhere else, but she dared not touch the pack that lay in her own sideboard. She knew how passionate he had become about his 'weakness.' She dared not even ask him how it was he had reversed his opinions on the matter. But, oh, how she yearned to discuss it with him, how much she wished to deal a hand on a grey wool blanket. There would be no headaches then, only this sweet consummation of their comradeship. But she said not a word. And although she might have her 'dainty' shoes tossed to the floor, have her bare toes quite visible through her stockings, have a draught of sherry in her hand, in short appear quite radical, she was too timid, she thought, too much a mouse, to reveal her gambler's heart to him. She did not like this mouselike quality. As usual, she found herself too careful, too held in. Once she said: 'I wish I had ten sisters and a big kitchen to laugh in.' Her lodger frowned and dusted his knees. She thought: He is as near to a sister as I am likely to get, but he does not understand. She would have had a woman friend so they could brush each other's hair, and just, please God, put aside this great clanking suit of ugly armor. She kept her glass dreams from him, even whilst she appeared to talk about them. He was an admiring listener, but she only showed him the opaque skin of her dreams--window glass, the price of transporting it, the difficulties with builders who would not pay their bills inside six months. He imagined this was her business, and of course it was, but all the things she spoke of were a fog across its landscape which was filled with such soaring mountains she would be embarrassed to lay claim to them. Her true ambition, the one she would not confess to him, was to build something Extraordinary and Fine from glass and cast iron. A conservatory, but not a conservatory. Glass laced with steel, spun like a spider web--the idea danced around the periphery of her vision, never long enough to be clear. When she attempted to make a sketch, it became diminished, wooden, inelegant. Sometimes, in her dreams, she felt she had discovered its form, but if she had, it was like an improperly fixed photograph which fades when exposed to daylight. She was wise enough, or foolish enough, to believe this did not matter, that the form would present itself to her in the end.

If all markets could be made perfect, and all human beings made rational, then more financial contracts, more trading, more liquidity, and more price discovery would indeed bring us closer to an efficient competitive equilibrium in which all resources would be allocated as efficiently as possible. But in the real world of inherently imperfect markets, imperfect information, and of human beings part rational and part not, market completion and increased liquidity can have negative effects.

Loss aversion refers to the relative strength of two motives: we are driven more strongly to avoid losses than to achieve gains. A reference point is sometimes the status quo, but it can also be a goal in the future: not achieving a goal is a loss, exceeding the goal is a gain. As we might expect from negativity dominance, the two motives are not equally powerful. The aversion to the failure of not reaching the goal is much stronger than the desire to exceed it. People often adopt short-term goals that they strive to achieve but not necessarily to exceed. They are likely to reduce their efforts when they have reached an immediate goal, with results that sometimes violate economic logic. New York cabdrivers, for example, may have a target income for the month or the year, but the goal that controls their effort is typically a daily target of earnings. Of course, the daily goal is much easier to achieve (and exceed) on some days than on others. On rainy days, a New York cab never remains free for long, and the driver quickly achieves his target; not so in pleasant weather, when cabs often waste time cruising the streets looking for fares. Economic logic implies that cabdrivers should work many hours on rainy days and treat themselves to some leisure on mild days, when they can “buy” leisure at a lower price. The logic of loss aversion suggests the opposite: drivers who have a fixed daily target will work many more hours when the pickings are slim and go home early when rain-drenched customers are begging to be taken somewhere.

The most prominent characteristic of capitalism is the wage system, which in brief amounts to this: — A man, or a group of men, possessing the necessary capital, starts some industrial enterprise; he undertakes to supply the factory or workshops with raw material, to organize production, to pay the employés a fixed wage, and lastly, to pocket the surplus value or profits, under pretext of recouping himself for managing the concern, for running the risks it may involve, and for the fluctuations of price in the market value of the wares.

What the working man sells is not directly his labour, but his labouring power, the temporary disposal of which he makes over to the capitalist. this is so much the case that I do not know whether by the English Laws, but certainly by some Continental Laws, the maximum time is fixed for which a man is allowed to sell his labouring power. If allowed to do so for any indefinite period whatever, slavery would be immediately restored. Such a sale, if it comprised his lifetime, for example, would make him at once the lifelong slave of his employer.

Yet even among those who are not economically poor, work remains, as a matter of experience, a great burden. Those whose work consists of serving the great corporate principalities, for instance, are subject to dehumanized, enslaving, frequently idolatrous claims over their lives. Does anyone seriously suppose that the high-ranking executives involved in the price-fixing scandals in some of the great corporations in this country are anything but prisoners, no more truly free than serfs, confined and conformed to the interest of the principalities they serve?

For once the commodities have been sold that were already on the market when their price was authoritatively fixed at a level below that demanded by the situation of the market, then the emptied store-rooms are not filled again. Charging more than a certain price is prohibited, but producing and selling has not been made compulsory. There are no longer any sellers. The market ceases to function. But this means that economic organization based on division of labour becomes impossible. The level of money-prices cannot be fixed without overthrowing the system of social division of labour.

Managerial abilities, bureaucratic skills, technical expertise, and political talent are all necessary, but they can be applied only to goals that have already been defined by military policies, broad and narrow. And those policies can be only as good as strategy, operational art of war, tactical thought, and plain military craft that have gone into their making. At present, the defects of structure submerge or distort strategy and operational art, they out rightly suppress tactical ingenuity, and they displace the traditional insights and rules of military craft in favor of bureaucratic preferences, administrative convenience, and abstract notions of efficiency derived from the world of business management. First there is the defective structure for making of military decisions under the futile supervision of the civilian Defense Department; then come the deeply flawed defense policies and military choices, replete with unnecessary costs and hidden risks; finally there come the undoubted managerial abilities, bureaucratic skills, technical expertise, and political talents, all applied to achieve those flawed policies and to implement those flawed choices. By this same sequence was the fatally incomplete Maginot Line built, as were all the Maginot Lines of history, each made no better by good government, technical talent, careful accounting, or sheer hard work. Hence the futility of all the managerial innovations tried in the Pentagon over the years. In the purchasing of weapons, for example, “total package” procurement, cost plus incentive contracting, “firm fixed price” purchasing have all been introduced with much fanfare, only to be abandoned, retried, and repudiated once again. And each time a new Secretary of Defense arrives, with him come the latest batch of managerial innovations, many of them aimed at reducing fraud, waste, and mismanagement-the classic trio endlessly denounced in Congress, even though they account for mere percentage points in the total budget, and have no relevance at all to the failures of combat. The persistence of the Administrator’s Delusion has long kept the Pentagon on a treadmill of futile procedural “reforms” that have no impact at all on the military substance of our defense. It is through strategy, operational art, tactical ingenuity, and military craft that the large savings can be made, and the nation’s military strength greatly increased, but achieving long-overdue structural innovations, from the central headquarters to the combat forces, from the overhead of bases and installations to the current purchase of new weapons. Then, and only then, will it be useful to pursue fraud, waste, and mismanagement, if only to save a few dollars more after the billions have already been saved. At present, by contrast, the Defense Department administers ineffectively, while the public, Congress, and the media apply their energies to such petty matters as overpriced spare parts for a given device in a given weapon of a given ship, overlooking at the same time the multibillion dollar question of money spent for the Navy as a whole instead of the Army – whose weakness diminishes our diplomatic weight in peacetime, and which could one day cause us to resort to nuclear weapons in the face of imminent debacle. If we had a central military authority and a Defense Department capable of strategy, we should cheerfully tolerate much fraud, waste, and mismanagement; but so long as there are competing military bureaucracies organically incapable of strategic combat, neither safety nor economy will be ensured, even if we could totally eliminate every last cent of fraud, waste, and mismanagement.

It’s true, organic food is more expensive to grow, and we have to be willing to pay for it. Some people see that as a luxury. I always come back to the same question: Would we rather give our money to the farmer or the pharmacist, the grocer or the doctor? Do we want to spend a fortune in the future trying to fix the damage being done today? Once we compare the potential risk and reward, the extra cost of eating clean food may seem worth it. Eating is the single most important thing we can do to stay healthy. If good, clean food isn’t worth our money, what is? Organic blackberries cost double the normal kind? How does that compare to the price of chemotherapy? How does burning out your insides with toxic chemicals and destroying your immune system and puking out your guts and losing all your hair stack up against spending three dollars more on that organic produce? Your body responds to what you put inside it. It’s simple. How could anything else be possible? You’d accept that if we were talking about your car. Why not your body? Clean also means food that contains no genetically modified organisms—GMOs. This is the really scary stuff, and it’s in the news every day as the big corporations fight every effort to label engineered foods. The fact that the industry is against truth in labeling tells us all we need to know.

Of all pieces of advice, my cherub, I would give you this—don’t stick to your opinions any more than to your words. If any one asks you for them, let him have them—at a price. A man who prides himself on going in a straight line through life is an idiot who believes in infallibility. There are no such things as principles; there are only events, and there are no laws but those of expediency: a man of talent accepts events and the circumstances in which he finds himself, and turns everything to his own ends. If laws and principles were fixed and invariable, nations would not change them as readily as we change our shirts. The individual is not obliged to be more particular than the nation.

Following someone covertly, either on foot or by car, costs around $175,000 per month—primarily for the salary of the agents doing the following. But if the police can place a tracker in the suspect’s car, or use a fake cell tower device to fool the suspect’s cell phone into giving up its location information, the cost drops to about $70,000 per month, because it only requires one agent. And if the police can hide a GPS receiver in the suspect’s car, suddenly the price drops to about $150 per month—mostly for the surreptitious installation of the device. Getting location information from the suspect’s cell provider is even cheaper: Sprint charges law enforcement only $30 per month. The difference is between fixed and marginal costs. If a police department performs surveillance on foot, following two people costs twice as much as following one person. But with GPS or cell phone surveillance, the cost is primarily for setting up the system. Once it is in place, the additional marginal cost of following one, ten, or a thousand more people is minimal. Or, once someone spends the money designing and building a telephone eavesdropping system that collects and analyzes all the voice calls in Afghanistan, as the NSA did to help defend US soldiers from improvised explosive devices, it’s cheap and easy to deploy that same technology against the telephone networks of other countries.

The federal government could make a Rolls Royce affordable for every American, but we would not be a richer country as a result. We would in fact be a much poorer country, because of all the vast resources transferred from other economic activities to subsidize an extravagant luxury. [...] To have politicians arbitrarily change the price tags, so that prices no longer represent the real costs, is to defeat the whole purpose [of an economy: to make trade-offs, with the prices of a market economy representing the costs of producing things]. Reality doesn't change when the government changes price tags. Talk about "bringing down health care costs" is not aimed at the costly legal environment in which medical science operates, or other sources of needless medical costs. It is aimed at price control, which hides costs rather than reducing them. [...] Whether in France during the 1790s, the Soviet Union after the Bolshevik revolution, or in newly independent African nations during the past generation, governments have imposed artificially low prices on food. In each case, this led to artificially low supplies of food and artificially high levels of hunger. People who complain about the "prohibitive" cost of housing, or of going to college, for example, fail to understand that the whole point of costs is to be prohibitive. [...] The idea [that "basic necessities" should be a "right"] certainly sounds nice. But the very fact that we can seriously entertain such a notion, as if we were God on the first day of creation, instead of mortals constrained by the universe we find in place, shows the utter unreality of failing to understand that we can only make choices among alternatives actually available. [...] Trade-offs [as opposed to solutions] remain inescapable, whether they are made through a market or through politics. The difference is that price tags present all the trade-offs simultaneously, while political 'affordability' policies arbitrarily fix on whatever is hot at the moment. That is why cities have been financing all kinds of boondoggles for years, while their bridges rusted and the roadways crumbled.

As soon as the Jews were allowed to stick their noses out of the ghetto, the sense of honour and loyalty in trade began to melt away. In fact, Judaism, this form of mental depravation that must at all costs be abolished, has made the fixing of prices depend on the laws of supply and demand factors, that is to say, which have nothing to do with the intrinsic value of an article. By creating the system of caveat emptor, the Jew has established a juridical basis for his rogueries. And thus it is that during the last two centuries, and with rare exceptions, our commerce has been dragged down to such a level that it has become absolutely necessary to apply a remedy. One first condition is necessary: to do away with the Jews.

Bezos had seemingly made up his mind that he was no longer going to indulge in financial maneuvering as a way to escape the rather large hole Amazon had dug for itself, and it wasn’t just through borrowing Sinegal’s business plan. At a two-day management and board offsite later that year, Amazon invited business thinker Jim Collins to present the findings from his soon-to-be-published book Good to Great. Collins had studied the company and led a series of intense discussions at the offsite. “You’ve got to decide what you’re great at,” he told the Amazon executives. Drawing on Collins’s concept of a flywheel, or self-reinforcing loop, Bezos and his lieutenants sketched their own virtuous cycle, which they believed powered their business. It went something like this: Lower prices led to more customer visits. More customers increased the volume of sales and attracted more commission-paying third-party sellers to the site. That allowed Amazon to get more out of fixed costs like the fulfillment centers and the servers needed to run the website. This greater efficiency then enabled it to lower prices further. Feed any part of this flywheel, they reasoned, and it should accelerate the loop. Amazon executives were elated; according to several members of the S Team at the time, they felt that, after five years, they finally understood their own business. But when Warren Jenson asked Bezos if he should put the flywheel in his presentations to analysts, Bezos asked him not to. For now, he considered it the secret sauce.

It’s so cute, isn’t it?” Arianna said dreamily. “Are we seeing the same creature? It’s like a demented goat with a bone growth.” “You’re going to hurt its feelings! Now shut up and sit on the ground.” I did as I was told, sticking my ankle out. “How is it going to heal me?” I asked, suddenly nervous. I pictured it licking my ankle and gagged. I could only imagine the diseases unicorn saliva had or what it carried around in its filthy, matted beard and hair. Bleating reproachfully, it stared at me with its doleful, square-pupiled brown eyes. “Oh, fine. Great, glorious unicorn, beloved of oblivious girls everywhere, please heal me. Now, if you don’t mind.” With one last bat of its gunk-crusted eyelashes, it lowered its head and put its stubby horn against my ankle. I cringed, waiting for pain, but felt instead tingling warmth spread out, almost like having butterflies in my stomach. Only in my ankle. Butterflies . . . with rainbows. The feeling of wholeness and well-being spread up my leg and into my entire body, and I couldn’t stop grinning. The forest was beautiful! The tree branches, naked against the brightening sky, held unimaginable wonders. The hard-packed dirt beneath me was a treasure trove of unrealized potential, lovely for what it could eventually give life to. I could sit out here forever and just enjoy nature. I was so happy! And rainbows! Why did I keep thinking of rainbows? Who cared! Rainbows were totally awesome! And the unicorn! I beamed at it, reaching out my hand to stroke it. There was never a creature more beautiful, more majestic. I’d spend the rest of my life out here, and we’d prance around the forest, worship the sunlight, bathe in the moonlight, and . . . I shook my head, scattering the idiotic warm fuzzies that had invaded. “Whoa,” I said, shoving the unicorn’s head away. “That’s enough of that.” I looked down at my ankle, which was now completely healed, not even a scar left. I fixed a stern look on the unicorn. “I am not going to frolic in an eternal meadow of sunshine and moonlight with you, you rotten little fink. But thanks.” I smiled, just enough to be nice without being too encouraging, and patted it quickly on the head. I was going to soak that hand in bleach. “Okay, let’s get out of here.” I stood, testing my ankle and relieved with the utter lack of pain. I still had an irrational desire to do an interpretive dance about rainbows, but it was a small price to pay for being healed.

Do not imagine that there is any bird more easily caught by decoy, nor any fish sooner fixed on the hook by wormy bait, than are all these poor fools neatly tricked into servitude by the slightest feather passed, so to speak, before their mouths. Truly it is a marvelous thing that they let themselves be caught so quickly at the slightest tickling of their fancy. Plays, farces, spectacles, gladiators, strange beasts, medals, pictures, and other such opiates, these were for ancient peoples the bait toward slavery, the price of their liberty, the instruments of tyranny. By these practices and enticements the ancient dictators so successfully lulled their subjects under the yoke, that the stupefied peoples, fascinated by the pastimes and vain pleasures flashed before their eyes, learned subservience as naively, but not so creditably, as little children learn to read by looking at bright picture books.

Under the influence of ignorance and custom, the day's pay of a country labourer will remain for a long time at a franc, while the saleable price of all the articles of consumption around him will be rising. He will sink into destitution without being able to discover the cause. In short, since you wish me to finish, I must beg you, before we separate, to fix your whole attention upon this essential point:--When once false money (under whatever form it may take) is put into circulation, depreciation will ensue, and manifest itself by the universal rise of every thing which is capable of being sold. But this rise in prices is not instantaneous and equal for all things. Sharp men, brokers, and men of business, will not suffer by it; for it is their trade to watch the fluctuations of prices, to observe the cause, and even to speculate upon it. But little tradesmen, countrymen, and workmen, will bear the whole weight of it. The rich man is not any the richer for it, but the poor man becomes poorer by it. Therefore, expedients of this kind have the effect of increasing the distance which separates wealth from poverty,

Success comes with an inevitable problem: market saturation. New products initially grow just by adding more customers—to grow a network, add more nodes. Eventually this stops working because nearly everyone in the target market has joined the network, and there are not enough potential customers left. From here, the focus has to shift from adding new customers to layering on more services and revenue opportunities with existing ones. eBay had this problem in its early years, and had to figure its way out. My colleague at a16z, Jeff Jordan, experienced this himself, and would often write and speak about his first month as the general manager of eBay’s US business. It was in 2000, and for the first time ever, eBay’s US business failed to grow on a month-over-month basis. This was critical for eBay because nearly all the revenue and profit for the company came from the US unit—without growth in the United States, the entire business would stagnate. Something had to be done quickly. It’s tempting to just optimize the core business. After all, increasing a big revenue base even a little bit often looks more appealing than starting at zero. Bolder bets are risky. Yet because of the dynamics of market saturation, a product’s growth tends to slow down and not speed up. There’s no way around maintaining a high growth rate besides continuing to innovate. Jeff shared what the team did to find the next phase of growth for the company: eBay.com at the time enabled the community to buy and sell solely through online auctions. But auctions intimidated many prospective users who expressed preference for the ease and simplicity of fixed price formats. Interestingly, our research suggested that our online auction users were biased towards men, who relished the competitive aspect of the auction. So the first major innovation we pursued was to implement the (revolutionary!) concept of offering items for a fixed price on ebay.com, which we termed “buy-it-now.” Buy-it-now was surprisingly controversial to many in both the eBay community and in eBay headquarters. But we swallowed hard, took the risk and launched the feature . . . and it paid off big. These days, the buy-it-now format represents over $40 billion of annual Gross Merchandise Volume for eBay, 62% of their total.65

My mother loved giving me math challenges. At Kmart or Winn-Dixie, she’d have me pick out books and model cars and trucks and buy them for me if I was able to mentally add together their prices. Over the course of my childhood, she kept escalating the difficulty, first having me estimate and round to the nearest dollar, then having me figure out the precise dollar-and-cents amount, and then having me calculate 3 percent of that amount and add it on to the total. I was confused by that last challenge—not by the arithmetic so much as by the reasoning. “Why?” “It’s called tax,” my mother explained. “Everything we buy, we have to pay three percent to the government.” “What do they do with it?” “You like roads, buddy? You like bridges?” she said. “The government uses that money to fix them. They use that money to fill the library with books.” Some time later, I was afraid that my budding math skills had failed me, when my mental totals didn’t match those on the cash register’s display. But once again, my mother explained. “They raised the sales tax. Now you have to add four percent.” “So now the library will get even more books?” I asked. “Let’s hope,” my mother said.

But I feel the exact opposite. I feel like it’s taken decades to get here. “You told me I was supposed to be the greatest player in the history of tennis. You said it since the day I was born! You told me it was all I was ever meant to be! And then one day I wasn’t anymore. You weren’t even sure that I could beat her!” I say. “Are we talking about Stepanova?” he says. “I asked you if you thought I could get the number one ranking over her, and you said, ‘I don’t know.’ ” “And you’ve never forgiven me for it,” he says. “I’m paying that price even today.” “You should pay it for the rest of your life!” I say. “For making me believe in myself like that and then pulling the rug out from under me. For giving up on me when things were at their hardest. I never gave up on this. Ever. And you did!” “Carrie, you asked me if I thought you could take number one from Paulina. And I said I didn’t know. Because I didn’t. I don’t know what the future holds. And I can’t promise the world is going to always turn out the way you want it to. “I owed you that honesty, I thought. So you could assess better—how to grow, how to widen your perspective. It felt like it was time for that. But you didn’t want to do that then, and you don’t want to do that now. “I’ve messed up a lot as your father, and I take responsibility for that. But this one, I’m sorry, only you can solve it. You have to make peace with not being a perfect player,” he said. “That is giving up. I won’t do it,” I said. My father shakes his head. “You have to find a way to be right with who you actually are, to face what life is really like. I expected you to figure that out by now. But you haven’t. And if you don’t, I can’t see how you ever get past this…this moment. You have accomplished so much, but you are instead so focused on keeping it, rather than going out and finding something else in the world.” He walks toward the door. “Everything we achieve is ephemeral. We have it, and then the next second it’s gone. You had that record, and you may lose that record. Or you may defend it now and lose it in two years all over again. I wish you’d accept that.” I shake my head and try to look at him. “I can’t.” “Well,” he says. “It kills me that I cannot fix that for you, hija. But I can’t. Nobody else can.” And then, as if the door were the lightest thing in the world, he opens it and walks right through, leaving me there alone.

The cartoonist Jules Feiffer, contemplating the communication problem in a nonindustrial context, has said, “Actually, the breakdown is between the person and himself. If you’re not able to communicate successfully between yourself and yourself, how are you supposed to make it with the strangers outside?” Suppose, purely as a hypothesis, that the owner of a company who orders his subordinates to obey the antitrust laws has such poor communication with himself that he does not really know whether he wants the order to be complied with or not. If his order is disobeyed, the resulting price-fixing may benefit his company’s coffers; if it is obeyed, then he has done the right thing. In the first instance, he is not personally implicated in any wrongdoing, while in the second he is positively involved in right doing. What, after all, can he lose? It is perhaps reasonable to suppose that such an executive might communicate his uncertainty more forcefully than his order. Possibly yet another foundation grantee should have a look at the reverse of communication failure, where he might discover that messages the sender does not even realize he is sending sometimes turn out to have got across only too effectively.

Moreover, competition for foreign markets and the necessity for larger and larger investments in raw materials, produce phenomena of concentration and accumulation. First, small capitalists are absorbed by big capitalists who can maintain, for example, unprofitable prices for a longer period. A larger and larger part of the profits is finally invested in new machines and accumulated in the fixed assets of capital. This double movement first of all hastens the ruin of the middle classes, who are absorbed into the proletariat, and then proceeds to concentrate, in an increasingly small number of hands, the riches produced uniquely by the proletariat. Thus the proletariat increases in size in proportion to its increasing ruin. Capital is now concentrated in the hands of only a very few masters, whose growing power is based on robbery. Moreover, these masters are shaken to their foundations by successive crises, overwhelmed by the contradictions of the system, and can no longer assure even mere subsistence to their slaves, who then come to depend on private or public charity. A day comes, inevitably, when a huge army of oppressed slaves find themselves face to face with a handful of despicable masters. That day is the day of revolution. "The ruin of the bourgeoisie and the victory of the proletariat are equally inevitable.

What you write down becomes fixed. It takes on the constraints of any tangible entity. It collapses into a reality estranged from the realm of its creation. It’s a marker. A roadsign. You have stopped to get your bearings, but at a price. You’ll never know where it might have gone if you’d left it alone to go there. In any conjecture you’re always looking for weaknesses. But sometimes you have the sense that you should hold off. Be patient. Have a little faith. You really want to see what the conjecture itself is going to drag up out of the murk. I don’t know how one does mathematics. I don’t know that there is a way. The idea is always struggling against its own realization. Ideas come with an innate skepticism, they don’t go barreling ahead. And these doubts have their origin in the same world as the idea itself. And that’s not something you really have access to. So the reservations that you yourself in the your world of struggle bring to the table may actually be alien to the path of these emerging structures. Their own intrinsic doubts are steering-mechanisms while yours are more like brakes. Of course the idea is going to come to an end anyway. Once a mathematical conjecture is formalized into a theory it may have a certain luster to it but with rare exceptions you can no longer entertain the illusion that it holds some deep insights into the core of reality. It has in fact begun to look like a tool.

The male narcissist is a misogynist, holding women in complete contempt. Here you are being tormented, and your compliance with this request [ because by now you know the silent treatment will follow if you don’t ] is just another example of his control over you. At the end of the day you are merely an object, a source of his narcissistic supply discussed earlier, giving him another ‘fix’ to his fragile ego. Attention procured from fellow male diners at the next outing will only serve to inflate his delusional feeling of superiority over others, and bear in mind the attention is for his benefit, not yours. Women present will no doubt take a different perspective from their temporarily distracted partners looking on with tongues hanging out. Along the lines ‘poor woman, if that’s how she’s made to dress. I’ll bet her life must be hell. What a prick’. His demands, always phrased as though in your favour continue unabated. ‘Why don’t you just pack in your job? It’s not as if we need the money. We can live comfortably off my salary. Think of all the extra time we can have together, and less pressure on you’. Awwww, this man is all heart. Well, he does need a cleaner, that’s for sure, as describing the place as untidy would be an understatement. As for employing a gardener! Forget it. Guess who will be spending the summer months breaking her back weeding and edging? Narcissists deem such jobs trivial and beneath them. These tasks were designed for inferior people.

All right. It’s not just that I dont have to write things down. There’s more to it than that. What you write down becomes fixed. It takes on the constraints of any tangible entity. It collapses into a reality estranged from the realm of its creation. It’s a marker. A roadsign. You have stopped to get your bearings, but at a price. You’ll never know where it might have gone if you’d left it alone to go there. In any conjecture you’re always looking for weaknesses. But sometimes you have the sense that you should hold off. Be patient. Have a little faith. You really want to see what the conjecture itself is going to drag up out of the murk. I dont know how one does mathematics. I dont know that there is a way. The idea is always struggling against its own realization. Ideas come with an innate skepticism, they dont just go barreling ahead. And these doubts have their origin in the same world as the idea itself. And that’s not something you really have access to. So the reservations that you yourself in your world of struggle bring to the table may actually be alien to the path of these emerging structures. Their own intrinsic doubts are steering-mechanisms while yours are more like brakes. Of course the idea is going to come to an end anyway. Once a mathematical conjecture is formalized into a theory it may have a certain luster to it but with rare exceptions you can no longer entertain the illusion that it holds some deep insight into the core of reality. It has in fact begun to look like a tool.

Across our country, rather than slavery having ended, it has spread horridly. So that no matter our color of skin, our creed or persuasion, or our just labors - our industry, our security, our very lives of our sons and daughters, are being taken from us, as our families are harmed, by a small group of elite and power hungry persons. And those institutions, established for our protection, are employed now, in this very country, for our subjugation, right down to local police. Well paid and infiltrated by the powers wielding unthinkable agendas. Let my family and its journey of hardship be living proof, that those of us that stand up for all, currently suffer the stones of those that stand only for themselves, and who now stand with hand on triggers, having silenced all but a few voices, who have paid the ultimate price for daring to speak. For daring to "face down", the few that have systematically and immorally bought, and criminally raised, this specter of a most vile, ancient and hated institution, once more, upon us. When elections come, know they are being held on a broken wagon, whose wheels need fixed, and safeguards restored, that the precious innocents of all races, all persuasions, all lives, may finally have safety, peace, protection and most of all justice. We are being told now we have won, but my family still feels the sting and the weight of the chains. We vow as we break ours, to free others. To use what we may gain in restitution, to the freeing and restoring of others yet bound.

Summers also claimed that technology was reducing the demand for capital. Digital businesses, such as Facebook and Google, had established dominant global franchises with relatively little invested capital and small workforces. In his book The Zero Marginal Cost Society (2014), the social theorist Jeremy Rifkin heralded the passing of traditional capitalism.16 If the Old Economy was marked by scarcity and declining marginal returns, Rikfin argued that the New Economy was characterized by zero marginal costs, increasing returns to scale and capital-lite ‘sharing’ apps (such as Uber, Lyft, Airbnb, etc.). The demand for capital and interest rates, he said, were set to fall in this ‘economy of abundance’. There was some evidence to support Rifkin’s claims. The balance sheets of US companies showed they were using fewer fixed assets (factories, plant, equipment, etc.) and reporting more ‘intangibles’ – namely, assets derived from patents, intellectual property and merger premiums. In much of the rest of the world, however, the demand for old-fashioned capital remained as strong as ever. After the turn of the century, the developing world exhibited a voracious appetite for industrial commodities that required massive mining investment. China embarked on what was probably the greatest investment boom in history. Before and after 2008, global energy consumption rose steadily. The world’s total investment (relative to GDP) remained in line with its historical average.17 Rifkin’s ‘economy of abundance’ remained a tantalizing speculation.

All the days of my appointed time will I wait." Job 14:14 A little stay on earth will make heaven more heavenly. Nothing makes rest so sweet as toil; nothing renders security so pleasant as exposure to alarms. The bitter quassia cups of earth will give a relish to the new wine which sparkles in the golden bowls of glory. Our battered armour and scarred countenances will render more illustrious our victory above, when we are welcomed to the seats of those who have overcome the world. We should not have full fellowship with Christ if we did not for awhile sojourn below, for he was baptized with a baptism of suffering among men, and we must be baptized with the same if we would share his kingdom. Fellowship with Christ is so honourable that the sorest sorrow is a light price by which to procure it. Another reason for our lingering here is for the good of others. We would not wish to enter heaven till our work is done, and it may be that we are yet ordained to minister light to souls benighted in the wilderness of sin. Our prolonged stay here is doubtless for God's glory. A tried saint, like a well-cut diamond, glitters much in the King's crown. Nothing reflects so much honour on a workman as a protracted and severe trial of his work, and its triumphant endurance of the ordeal without giving way in any part. We are God's workmanship, in whom he will be glorified by our afflictions. It is for the honour of Jesus that we endure the trial of our faith with sacred joy. Let each man surrender his own longings to the glory of Jesus, and feel, "If my lying in the dust would elevate my Lord by so much as an inch, let me still lie among the pots of earth. If to live on earth forever would make my Lord more glorious, it should be my heaven to be shut out of heaven." Our time is fixed and settled by eternal decree. Let us not be anxious about it, but wait with patience till the gates of pearl shall open.

...He can recite to you the nomenclature of a machine gun or grenade launcher and use either one effectively is he must. He digs foxholes and latrines and can apply first aid like a professional. He can march until he is told to stop, or stop until he is told to march. He obeys orders instantly and without hesitation, but he is not without spirit or individual dignity. He is self-sufficient. ...He sometimes forgets to brush his teeth, but never to clean his rifle. He can cool his own meals, mend his own clothes, and fix his own hurts. ...He'll even split his ammunition with you in the midst of battle when you run low. He has learned to use his hands like weapons and weapons like they were his hands. He can save your life- or take it, because that is his job. He will often do twice the work of a civilian, draw half the pay, and still find ironic humor in it all. He has seen more suffering and death than he should have in his short lifetime. He has wept in public and in private, for friends who have fallen in combat and is unashamed. He feels every note of the National Anthem vibrate through his body while at rigid attention, while tempering the burning desire to "square-away" those around him who haven't bothered to stand, remove their hat, or even stop talking. ...Just as did his father, grandfather, and great-grandfather, he is paying the price for our freedom. Beardless or not, he is not a boy. He is the American Fighting Man that has kept this country free for over two hundred years. He has asked nothing in return, except our friendship and understanding. Remember him, always, for he has earned our respect and admiration with his blood. And now we even have women over there in danger, doing their part in this tradition of going to war when our nation calls us to do so. As you go to bed tonight, remember this. A short lull, a little shade, and a picture of loved ones in their helmets.

One of the greatest difficulties we human beings seem to have is to relinquish long-held ideas. Many of us are addicted to being right, even if facts do not support us. One fixed image we cling to, as iconic in today’s culture as the devil was in previous ages, is that of the addict as an unsavoury and shadowy character, given to criminal activity. What we don’t see is how we’ve contributed to making him a criminal. There is nothing more intrinsically criminal in the average drug user than in the average cigarette smoker or alcohol addict. The drugs they inject or inhale do not themselves induce criminal activity by their pharmacological effect, except perhaps in the way that alcohol can also fuel a person’s pent-up aggression and remove the mental inhibitions that thwart violence. Stimulant drugs may have that effect on some users, but narcotics like heroin do not; on the contrary, they tend to calm people down. It is withdrawal from opiates that makes people physically ill, irritable and more likely to act violently — mostly out of desperation to replenish their supply. The criminality associated with addiction follows directly from the need to raise money to purchase drugs at prices that are artificially inflated owing to their illegality. The addict shoplifts, steals and robs because it’s the only way she can obtain the funds to pay the dealer. History has demonstrated many times over that people will transgress laws and resist coercion when it comes to struggling for their basic needs — or what they perceive as such. Sam Sullivan, Vancouver’s quadriplegic mayor, told a conference on drug addiction once that if wheelchairs were illegal, he would do anything to get one, no matter what laws he had to break. It was an apt comparison: the hardcore addict feels equally handicapped without his substances. As we have seen, many addicts who deal in drugs do so exclusively to finance their habit. There is no profit in it for them.

It is not the development of material need which sets the modern vocabulary of aspiration apart from anything which has gone before, but rather the transformation of our spiritual needs. It is our spirits, not our clothes and houses and cars, that set us so radically apart from our own past and form much of the rest of the world. Imagine what we must be like to the primitive peoples who receive our attentions as anthropologists. We come upon them armed with our mastery of nature, and yet they can disarm us with the simplest metaphysical inquiry: what happen when people die? where do they go? what are the duties of the living to the dead? Their cultures are as rich in answers to these questions as our culture is rich in answers to the technical and scientific problems which baffle them. It has always been a truism of the Western bad conscience that we have purchased our mastery of nature at the price of our spirits. The conservative and romantic critique of Western progress has always used the example of the savage - rich in cosmology, poor in goods - to argue for an inverse historical relationship between the development of material and spiritual needs. Certainly this view could draw upon the dark side of the Christian theology of need. While secular optimists have trust in the permanence of spiritual need, Augustinian Christians have fixed their gaze on the nightmare of the happy slave: the being so absorbed by the material that all spiritual needs have perished. Yet human needing is historical, and who can predict what forms the needs of the spirit may take? There is a loss of nerve in the premature announcements of the death of the spirit, the easy condemnations of materialist aspiration in capitalist society. Western societies have continued the search for spiritual consolation in the only manner consistent with the freedom of the seeking subject: by making every person the judge of his own spiritual satisfaction. We have all been left to choose what we need, and we have pushed the search for private meaning to the limits of what a public language can contain if it is to continue to be a means of communication. We have Augustine's first freedom, and because we have it, we cannot have his second. We can no longer offer each other the possibility of metaphysical belonging: a shared place, sustained by faith, in a divine universe. All our belonging now is social.

But that is a lie! Here we have been breaking our backs for years at All-Union hard labor. Here in slow annual spirals we have been climbing up to an understanding of life—and from this height it can all be seen so clearly: It is not the result that counts! It is not the result—but the spirit! Not what—but how. Not what has been attained—but at what price. And so it is with us the prisoners—if it is the result which counts, then it is also true that one must survive at any price. And what that means is: One must become a stool pigeon, betray one’s comrades. And thereby get oneself set up comfortably. And perhaps even get time off sentence. In the light of the Infallible Teaching there is, evidently, nothing reprehensible in this. After all, if one does that, then the result will be in our favor, and the result is what counts. No one is going to argue. It is pleasant to win. But not at the price of losing one’s human countenance. If it is the result which counts—you must strain every nerve and sinew to avoid general work. You must bend down, be servile, act meanly—yet hang on to your position as a trusty. And by this means . . . survive. If it is the essence that counts, then the time has come to reconcile yourself to general work. To tatters. To torn skin on the hands. To a piece of bread which is smaller and worse. And perhaps . . . to death. But while you’re alive, you drag your way along proudly with an aching back. And that is when—when you have ceased to be afraid of threats and are not chasing after rewards—you become the most dangerous character in the owllike view of the bosses. Because . . . what hold do they have on you? You even begin to like carrying hand barrows with rubbish (yes, but not with stone!) and discussing with your work mate how the movies influence literature. You begin to like sitting down on the empty cement mixing trough and lighting up a smoke next to your bricklaying. And you are actually and simply proud if, when the foreman passes you, he squints at your courses, checks their alignment with the rest of the wall, and says: “Did you lay that? Good line.” You need that wall like you need a hole in the head, nor do you believe it is going to bring closer the happy future of the people, but, pitiful tattered slave that you are, you smile at this creation of your own hands. The Anarchist’s daughter, Galya Venediktova, worked as a nurse in the Medical Section, but when she saw that what went on there was not healing but only the business of getting fixed up in a good spot—out of stubbornness she left and went off to general work, taking up a spade and a sledge hammer. And she says that this saved her spiritually. For a good person even a crust is healthy food, and to an evil person even meat brings no benefit.

What is certain is that the immutable classes, the nobility, the clergy, the bourgeoisie, the people, had loftier souls at that time. You can prove it: society has done nothing but deteriorate in the four centuries separating us from the Middle Ages. "True, a baron then was usually a formidable brute. He was a drunken and lecherous bandit, a sanguinary and boisterous tyrant, but he was a child in mind and spirit. The Church bullied him, and to deliver the Holy Sepulchre he sacrificed his wealth, abandoned home, wife, and children, and accepted unconscionable fatigues, extraordinary sufferings, unheard-of dangers. "By pious heroism he redeemed the baseness of his morals. The race has since become moderate. It has reduced, sometimes even done away with, its instincts of carnage and rape, but it has replaced them by the monomania of business, the passion for lucre. It has done worse. It has sunk to such a state of abjectness as to be attracted by the doings of the lowest of the low. ...cupidity was repressed by the confessor, and the tradesman, just like the labourer, was maintained by the corporations, which denounced overcharging and fraud, saw that decried merchandise was destroyed, and fixed a fair price and a high standard of excellence for commodities. Trades and professions were handed down from father to son. The corporations assured work and pay. People were not, as now, subject to the fluctuations of the market and the merciless capitalistic exploitation. Great fortunes did not exist and everybody had enough to live on. Sure of the future, unhurried, they created marvels of art, whose secret remains for ever lost. "All the artisans who passed the three degrees of apprentice, journeyman, and master, developed subtlety and became veritable artists. They ennobled the simplest of iron work, the commonest faience, the most ordinary chests and coffers. Those corporations, putting themselves under the patronage of Saints—whose images, frequently besought, figured on their banners—preserved through the centuries the honest existence of the humble and notably raised the spiritual level of the people whom they protected. ...The bourgeoise has taken the place forfeited by a wastrel nobility which now subsists only to set ignoble fashions and whose sole contribution to our 'civilization' is the establishment of gluttonous dining clubs, so-called gymnastic societies, and pari-mutuel associations. Today the business man has but these aims, to exploit the working man, manufacture shoddy, lie about the quality of merchandise, and give short weight. ...There is one word in the mouths of all. Progress. Progress of whom? Progress of what? For this miserable century hasn't invented anything great. "It has constructed nothing and destroyed everything...

The best way not to have to use your military power is to make sure that power is visible. When people know that we will use force if necessary and that we really mean it, we’ll be treated differently. With respect. Right now, no one believes us because we’ve been so weak with our approach to military policy in the Middle East and elsewhere. Building up our military is cheap when you consider the alternative. We’re buying peace and we’re locking in our national security. Right now we are in bad shape militarily. We’re decreasing the size of our forces and we’re not giving them the best equipment. Recruiting the best people has fallen off, and we can’t get the people we have trained to the level they need to be. There are a lot of questions about the state of our nuclear weapons. When I read reports of what is going on, I’m shocked. It’s no wonder nobody respects us. It’s no surprise that we never win. Spending money on our military is also smart business. Who do people think build our airplanes and ships, and all the equipment that our troops should have? American workers, that’s who. So building up our military also makes economic sense because it allows us to put real money into the system and put thousands of people back to work. There is another way to pay to modernize our military forces. If other countries are depending on us to protect them, shouldn’t they be willing to make sure we have the capability to do it? Shouldn’t they be willing to pay for the servicemen and servicewomen and the equipment we’re providing? Depending on the price of oil, Saudi Arabia earns somewhere between half a billion and a billion dollars every day. They wouldn’t exist, let alone have that wealth, without our protection. We get nothing from them. Nothing. We defend Germany. We defend Japan. We defend South Korea. These are powerful and wealthy countries. We get nothing from them. It’s time to change all that. It’s time to win again. We’ve got 28,500 wonderful American soldiers on South Korea’s border with North Korea. They’re in harm’s way every single day. They’re the only thing that is protecting South Korea. And what do we get from South Korea for it? They sell us products—at a nice profit. They compete with us. We spent two trillion dollars doing whatever we did in Iraq. I still don’t know why we did it, but we did. Iraq is sitting on an ocean of oil. Is it out of line to suggest that they should contribute to their own future? And after the blood and the money we spent trying to bring some semblance of stability to the Iraqi people, maybe they should be willing to make sure we can rebuild the army that fought for them. When Kuwait was attacked by Saddam Hussein, all the wealthy Kuwaitis ran to Paris. They didn’t just rent suites—they took up whole buildings, entire hotels. They lived like kings while their country was occupied. Who did they turn to for help? Who else? Uncle Sucker. That’s us. We

gave up on the idea of creating “socialist men and women” who would work without monetary incentives. In a famous speech he criticized “equality mongering,” and thereafter not only did different jobs get paid different wages but also a bonus system was introduced. It is instructive to understand how this worked. Typically a firm under central planning had to meet an output target set under the plan, though such plans were often renegotiated and changed. From the 1930s, workers were paid bonuses if the output levels were attained. These could be quite high—for instance, as much as 37 percent of the wage for management or senior engineers. But paying such bonuses created all sorts of disincentives to technological change. For one thing, innovation, which took resources away from current production, risked the output targets not being met and the bonuses not being paid. For another, output targets were usually based on previous production levels. This created a huge incentive never to expand output, since this only meant having to produce more in the future, since future targets would be “ratcheted up.” Underachievement was always the best way to meet targets and get the bonus. The fact that bonuses were paid monthly also kept everyone focused on the present, while innovation is about making sacrifices today in order to have more tomorrow. Even when bonuses and incentives were effective in changing behavior, they often created other problems. Central planning was just not good at replacing what the great eighteenth-century economist Adam Smith called the “invisible hand” of the market. When the plan was formulated in tons of steel sheet, the sheet was made too heavy. When it was formulated in terms of area of steel sheet, the sheet was made too thin. When the plan for chandeliers was made in tons, they were so heavy, they could hardly hang from ceilings. By the 1940s, the leaders of the Soviet Union, even if not their admirers in the West, were well aware of these perverse incentives. The Soviet leaders acted as if they were due to technical problems, which could be fixed. For example, they moved away from paying bonuses based on output targets to allowing firms to set aside portions of profits to pay bonuses. But a “profit motive” was no more encouraging to innovation than one based on output targets. The system of prices used to calculate profits was almost completely unconnected to the value of new innovations or technology. Unlike in a market economy, prices in the Soviet Union were set by the government, and thus bore little relation to value. To more specifically create incentives for innovation, the Soviet Union introduced explicit innovation bonuses in 1946. As early as 1918, the principle had been recognized that an innovator should receive monetary rewards for his innovation, but the rewards set were small and unrelated to the value of the new technology. This changed only in 1956, when it was stipulated that the bonus should be proportional to the productivity of the innovation. However, since productivity was calculated in terms of economic benefits measured using the existing system of prices, this was again not much of an incentive to innovate. One could fill many pages with examples of the perverse incentives these schemes generated. For example, because the size of the innovation bonus fund was limited by the wage bill of a firm, this immediately reduced the incentive to produce or adopt any innovation that might have economized on labor.

Stay on Course Let your eyes look right on [with fixed purpose], and let your gaze be straight before you. Consider well the path of your feet, and let all your ways be established and ordered aright. Turn not aside to the right hand or to the left; remove your foot from evil. PROVERBS 4:25- 27 Jesus knew what His purpose was. He disciplined Himself to stay on course, living His life to fulfill that purpose for which He came. As Christians, we need to follow in His steps and focus on our purpose. We were bought with a price to live our lives in such a way that we become the salt of the earth, the light of the world (see Matthew 5). We are to lay down our selfish, self-centered lifestyles, and gear our lives toward doing something for the betterment of someone else. Then we will experience that “joy unspeakable, and full of glory” (1 Peter 1:8).

In January 1971 he startled the newsman Howard K. Smith by telling him, "I am now a Keynesian in economics," and in August he jolted the nation by announcing a New Economic Policy. This entailed fighting inflation by imposing a ninety-day freeze on wages and prices. Nixon also sought to lower the cost of American exports by ending the convertibility of dollars into gold, thereby allowing the dollar to float in world markets. This action transformed with dramatic suddenness an international monetary system of fixed exchange rates that had been established, with the dollar as the reserve currency, in 1946.

The ascent stage: The best moment to buy occurs when price crosses above the 30 period moving average (30-period SMA). The breakout of stage 1 occurs on rising volumes. The beginning of stage 2 is seen as a series of price increases, which could be jerky, with no significant lows and fixed by stronger volumes.

When I was at Salesforce, we spent a lot of time and energy educating investors and analysts on the vast performance differences between subscription software companies and traditional software companies. Lots of them remained fixed on the price-earnings ratio, and could not fathom investing in a company trading—at that point—200x future earnings. We knew that operating profit was essentially meaningless to measuring our value.

The manipulation of currency, throughout a feature of the colonial enterprise, reached its worst during the Great Depression of 1929–30, when Indian farmers (like those in the North American prairies) grew their grain but discovered no one could afford to buy it. Agricultural prices collapsed, but British tax demands did not; and cruelly, the British decided to restrict India’s money supply, fearing that the devaluation of Indian currency would cause losses to the British from a corresponding decline in the sterling value of their assets in India. So Britain insisted that the Indian rupee stay fixed at 1 shilling sixpence, and obliged the Indian government to take notes and coins out of circulation to keep the exchange rate high. The total amount of cash in circulation in the Indian economy fell from some 5 billion rupees in 1929 to 4 billion in 1930 and as low as 3 billion in 1938. Indians starved but their currency stayed high, and the value of British assets in India was protected.

By asking other people what their experiences were with a product and by asking them for their recommendations, we can access a vast amount of experience without having to spend time, money, or effort—or take the risks that we would by doing it on our own. So, we not only ask what product is best, but we ask, “What was your experience?” What should we watch out for and what tricks and tips should we follow? How can we best try it, fix it, and teach others to use it? Who has the best prices and delivery? Who is honest? All of this saves a tremendous amount of time. We could never function in the modern world without sharing experiences through word of mouth.

The grilled calamari and spinach antipasto has been a mainstay since we opened, so paying a premium to keep it on the menu is a no-brainer, providing the quality is sufficiently high. I get one of the line guys to pull the lunch menus and type a new one that I dictate while pulling stuff from the walk-in and freezer. Today, our prix fixe menu will feature cucina poverta: polpettone alla napoletana, an Italian meat loaf; pappa al pomodoro; a ragout with sausages and peppers; and braciole (providing Rob, the meat guy, comes through in time). When the meat still has not shown up by ten I'm on the phone yelling at some hapless office person, although it's just about hopeless, because, unless the meat shows up in the next five minutes, there will not be enough time to make the braciole. To cover for the fact that we were only able to buy fifteen pounds of calamari from Dean and Deluca (at an exorbitant price), Tony and I devise an additional antipasto, a ricotta and Pecorino torta flavored with hot pepper and prosciutto.