General Motors Quotes

Official Washington cannot tell the American people that the real purpose of its gargantuan military expenditures and belligerent interventions is to make the world safe for General Motors, General Electric, General Dynamics, and all the other generals.

We went to the New York World's Fair, saw what the past had been like, according to the Ford Motor Car Company and Walt Disney, saw what the future would be like, according to General Motors. And I asked myself about the present: how wide it was, how deep it was, how much was mine to keep.

General Motors, General Mills, General Foods, general ignorance, general apathy, and general cussedness elect presidents and Congressmen and maintain them in power.

Over the summer we chatted one night while Angie stripped a bed, changed wet sheets, comforted and repajamaed a toddler, and chased down a car of speeding teenagers while shaking a brick at them, never once interrupting the conversation or setting down her margarita. The only reason this woman isn't president of General Motors is because she's chosen not to be.

I wouldn't say she looked exactly wistful, but neither did she look as hard to get as a controlling interest in General Motors

I say, they [those at the top] don't have to conspire, because they all think alike. The president of General Motors and the president of Chase Manhattan Bank really are not going to disagree much on anything, nor would the editor of the New York Times disagree with them. They all tend to think quite alike, otherwise they would not be in those jobs.

A system just can’t respond to short-term changes when it has long term delays. That’s why a massive central-planning system, such as the Soviet Union or General Motors, necessarily functions poorly.

General Motors is alive and kicking today, it is because in 2009 President Obama’s administration wrote off 90 percent of its debt.

In fact, I’ve met countless believers who have said, “The church is an organism, not an organization.” Yet as they formed those very words, they continued to be devout members of churches that were organized along the lines of General Motors and Microsoft.

After Spain, World War II was simple. I wasn't even tempted to pick up a gun to fight for General Motors, U.S. Steel, or the Chase Manhattan Bank, even if Hitler was running the other side.

In 2012, Google, for example, generated a profit of nearly $14 billion while employing fewer than 38,000 people.9 Contrast that with the automotive industry. At peak employment in 1979, General Motors alone had nearly 840,000 workers but earned only about $11 billion—20 percent less than what Google raked in. And, yes, that’s after adjusting for inflation.

The great Allied campaign to celebrate (or sell) Democracy, etc., was a venture so successful, and, it seemed, so noble, that it suddenly legitimized such propagandists, who, once the war had ended, went right to work massaging or exciting various publics on behalf of entities like General Motors, Procter & Gamble, John D. Rockefeller, General Electric.

Nothing is more important than anything else. The child collecting seashells is not doing something more right or wrong than the President of General Motors making a major corporate decision. They are different. Nothing more!

There is nothing noble in being superior to some other man. The true nobility is in being superior to your previous self.

It was your father’s misfortune that a hoodlum confessed to the crime, as opposed to someone upstanding like, say, the President of General Motors.

A person cannot direct his emotional life in the way he bids his motor system to reach for a cup. He cannot will himself to want the right thing or to love the right person or to be happy after a disappointment, or even to be happy in happy times. People lack this capacity not through a deficiency of discipline but because the jurisdiction of will is limited to the latest brain and to those functions within its purview. Emotional life can be influenced, but it cannot be commanded.

But it was also clear that an all-round increase in wealth threatened the destruction — indeed, in some sense was the destruction — of a hierarchical society. In a world in which everyone worked short hours, had enough to eat, lived in a house with a bathroom and a refrigerator, and possessed a motor-car or even an aeroplane, the most obvious and perhaps the most important form of inequality would already have disappeared. If it once became general, wealth would confer no distinction.

Daimler uses Tesla’s battery packs; Mercedes-Benz uses a Tesla powertrain; Toyota uses a Tesla motor. General Motors has even created a task force to track Tesla’s next moves. But

If you’ve ever taken an economics course you know that markets are supposed to be based on informed consumers making rational choices. I don’t have to tell you, that’s not what’s done. If advertisers lived by market principles then some enterprise, say, General Motors, would put on a brief announcement of their products and their properties, along with comments by Consumer Reports magazine so you could make a judgment about it. That’s not what an ad for a car is—an ad for a car is a football hero, an actress, the car doing some crazy thing like going up a mountain or something. If you’ve ever turned on your television set, you know that hundreds of millions of dollars are spent to try to create uninformed consumers who will make irrational choices—that’s what advertising is.

profit of nearly $14 billion while employing fewer than 38,000 people.9 Contrast that with the automotive industry. At peak employment in 1979, General Motors alone had nearly 840,000 workers but earned only about $11 billion—20 percent less than what Google raked in. And, yes, that’s after adjusting

I've never understood America,"said the king. "Neither do we, sir. You might say we have two governments, kind of overlapping. First we have the elected government. It's Democratic or Republican, doesn't make much difference, and then there's corporation government." "They get along together, these governments?" "Sometimes," said Tod. "I don't understand it myself. You see, the elected government pretends to be democratic, and actually it is autocratic. The corporation governments pretend to be autocratic and they're all the time accusing the others of socialism. They hate socialism." "So I have heard," said Pippin. "Well, here's the funny thing, sir. You take a big corporation in America, say like General Motors or Du Pont or U.S. Steel. The thing they're most afraid of is socialism, and at the same time they themselves are socialist states." The king sat bolt upright. "Please?" he said. "Well, just look at it, sir. They've got medical care for employees and their families and accident insurance and retirement pensions, paid vacations -- even vacation places -- and they're beginning to get guaranteed pay over the year. The employees have representation in pretty nearly everything, even the color they paint the factories. As a matter of fact, they've got socialism that makes the USSR look silly. Our corporations make the U.S. Government seem like an absolute monarchy. Why, if the U.S. government tried to do one-tenth of what General Motors does, General Motors would go into armed revolt. It's what you might call a paradox sir.

General Motors, ITT, and Ford come most readily to mind as having plants protected by Hitler,

Fat cells want to be downsized about as much as General Motors or AIG.

[...] you'll have to forgive me, darling, I am old-fashioned, I believe in General Motors and the clarity of the gods . . .

General Macarthur said sharply: 'Of course it won´t come. We´re counting on the motor-boat to take us off the island. That´s the meaning of the whole business. We´re not going to leave the island...None of us will ever leave...It´s the end, you see-the end of everything...

when a company (say, General Motors) or a city or state says to its employees that it cannot “afford” to pay pensions, they are engaging in theft and the thieves should be prosecuted

Henry Ford thought debt was a lazy man’s method to purchase items, and his philosophy was so ingrained in Ford Motor Company that Ford didn’t offer financing until ten years after General Motors did. Now, of course, Ford Motor Credit is one of the most profitable of Ford Motor’s operations. The old school saw the folly of debt; the new school saw the opportunity to take advantage of the consumer with debt.

bouncing old retired general--he's dotty over motors. Roars around on a shocking old motor bike--mustache and dignity flying in the morning breeze--atrocious bills for all the geese and curates he runs over.

Good follow-up is just as important as the meeting itself. The great master of follow-up was Alfred Sloan, the most effective business executive I have ever known. Sloan, who headed General Motors from the 1920s until the 1950s, spent most of his six working days a week in meetings—three days a week in formal committee meetings with a set membership, the other three days in ad hoc meetings with individual GM executives or with a small group of executives. At the beginning of a formal meeting, Sloan announced the meeting’s purpose. He then listened. He never took notes and he rarely spoke except to clarify a confusing point. At the end he summed up, thanked the participants, and left. Then he immediately wrote a short memo addressed to one attendee of the meeting. In that note, he summarized the discussion and its conclusions and spelled out any work assignment decided upon in the meeting (including a decision to hold another meeting on the subject or to study an issue). He specified the deadline and the executive who was to be accountable for the assignment. He sent a copy of the memo to everyone who’d been present at the meeting. It was through these memos—each a small masterpiece—that Sloan made himself into an outstandingly effective executive.

Alfred P. Sloan, the legendary builder of General Motors, once said to a meeting of one of his top committees, 'Gentlemen, I take it we are all in complete agreement on the decision here?' Everyone around the table nodded. 'Then,' Sloan continued, 'I propose we postpone further discussion of this matter until our next meeting to give ourselves time to develop disagreement and perhaps gain some understanding of what the decision is all about

GM had assets greater than those of Argentina and revenues eight times those of New York State. (Defense Secretary Wilson had had a point in saying that "what was good for our country was good for General Motors, and vice versa.")

the role of the duped cuckold. Neither would we if it was learned that General Motors, IBM, and the New York Stock Exchange were being run by American traitors, trained in the Soviet, diverting billions to projects not in our nation’s interests.

The something that’s demented, honky, is American history! It’s the American empire! It’s Chase Manhattan and General Motors and Standard Oil and Newark Maid Leatherware! Welcome aboard, capitalist dog! Welcome to the fucked-over-by-America human race!

There’s a widespread conviction, spoken and unspoken, that the road to riches is trimmed in Ivy and the reins of power held by those who’ve donned Harvard’s crimson, Yale’s blue and Princeton’s orange, not just on their chests but in their souls. No one told that to the Fortune 500. They’re the American corporations with the highest gross revenues. The list is revised yearly. As I write this paragraph in the summer of 2014, the top ten are, in order, Wal-Mart, Exxon Mobil, Chevron, Berkshire Hathaway, Apple, Phillips 66, General Motors, Ford Motor, General Electric and Valero Energy. And here’s the list, in the same order, of schools where their chief executives got their undergraduate degrees: the University of Arkansas; the University of Texas; the University of California, Davis; the University of Nebraska; Auburn; Texas A&M; the General Motors Institute (now called Kettering University); the University of Kansas; Dartmouth College and the University of Missouri–St. Louis. Just one Ivy League school shows up.

To make good decisions, CEOs need the courage to seek out disagreement. Alfred Sloan, the longtime CEO and chairman of General Motors, once interrupted a committee meeting with a question: “Gentlemen, I take it we are all in complete agreement on the decision here?” All the committee members nodded. “Then,” Sloan said, “I propose we postpone further discussion of this matter until our next meeting to give ourselves time to develop disagreement and perhaps gain some understanding of what this decision is about.

(When the company was finally broken up in the 1980s to satisfy antitrust regulators, it was worth more than the combined worth of General Electric, General Motors, Ford, IBM, Xerox, and Coca-Cola, and employed a million people.) Bell moved to Washington, D.C., became

For his “distinguished service to the Reich,” Henry Ford accepted the Grand Cross of the German Eagle—the highest medal that Nazi Germany could award to a foreigner—in July of 1938. James Mooney, a senior executive for General Motors, received his medal a month later.

To begin with, there is the frightful debauchery of taste that has already been effected by a century of mechanisation. This is almost too obvious and too generally admitted to need pointing out. But as a single instance, take taste in its narrowest sense - the taste for decent food. In the highly mechanical countries, thanks to tinned food, cold storage, synthetic flavouring matters, etc., the palate it almost a dead organ. As you can see by looking at any greengrocer’s shop, what the majority of English people mean by an apple is a lump of highly-coloured cotton wool from America or Australia; they will devour these things, apparently with pleasure, and let the English apples rot under the trees. It is the shiny, standardized, machine-made look of the American apple that appeals to them; the superior taste of the English apple is something they simply do not notice. Or look at the factory-made, foil wrapped cheeses and ‘blended’ butter in an grocer’s; look at the hideous rows of tins which usurp more and more of the space in any food-shop, even a dairy; look at a sixpenny Swiss roll or a twopenny ice-cream; look at the filthy chemical by-product that people will pour down their throats under the name of beer. Wherever you look you will see some slick machine-made article triumphing over the old-fashioned article that still tastes of something other than sawdust. And what applies to food applies also to furniture, houses, clothes, books, amusements and everything else that makes up our environment. These are now millions of people, and they are increasing every year, to whom the blaring of a radio is not only a more acceptable but a more normal background to their thoughts than the lowing of cattle or the song of birds. The mechanisation of the world could never proceed very far while taste, even the taste-buds of the tongue, remained uncorrupted, because in that case most of the products of the machine would be simply unwanted. In a healthy world there would be no demand for tinned food, aspirins, gramophones, gas-pipe chairs, machine guns, daily newspapers, telephones, motor-cars, etc. etc.; and on the other hand there would be a constant demand for the things the machine cannot produce. But meanwhile the machine is here, and its corrupting effects are almost irresistible. One inveighs against it, but one goes on using it. Even a bare-arse savage, given the change, will learn the vices of civilisation within a few months. Mechanisation leads to the decay of taste, the decay of taste leads to demand for machine-made articles and hence to more mechanisation, and so a vicious circle is established.

It is deliberate policy to keep even the favoured groups somewhere near the brink of hardship, because a general state of scarcity increases the importance of small privileges and thus magnifies the distinction between one group and another. By the standards of the early twentieth century, even a member of the Inner Party lives an austere, laborious kind of life. Nevertheless, the few luxuries that he does enjoy his large, well-appointed flat, the better texture of his clothes, the better quality of his food and drink and tobacco, his two or three servants, his private motor-car or helicopter—set him in a different world from a member of the Outer Party, and the members of the Outer Party have a similar advantage in comparison with the submerged masses whom we call ‘the proles’.

Do you think I would want to live under a government that you ran or set up? It’s all very nice to say you’re an anarchist, but you only want anarchy for yourself. For the rest of us, you want to make sure we do what you say, think how you think, and remember you’re the boss. You ask me why you wear that jacket or give away that piece of crap on the street, even though you know that when people take it they just throw it in the next trash can, or why you wear those glasses right out of Doctor Zhivago? You just want to get laid, like every guy. My brother, Dean, thinks playing hockey is going to get him laid. You think pretending you are some Russian is going to get you laid—big fucking difference.” She tossed her head. “You wouldn’t mind running General Motors. You hate big business just because you’re not the boss. If, by some magic trick, you got to be the president of…of…of Dow, you’d do it, and you would be happy to make napalm, too, because if you don’t care about one person getting killed, then you don’t care about any person getting killed. You’re just a heartless asshole.

Perhaps managers still saw themselves in workers, people they considered their fellow Americans. I often picture it literally—three white men seated in a room, signing a contract: Walter Reuther of the United Automobile Workers; Charles Wilson, the General Motors chief executive; and President Dwight Eisenhower. Their handshakes seal the deal for a broad, white middle class. Then, in the mid-sixties, there’s a commotion at the door. Women and people of color are demanding a seat at the table, ready to join the contract for shared prosperity. But no longer able to see themselves reflected in the other signatories, the leaders of government and big business walk out, leaving workers on their own—and the Inequality Era was born.

The general function of dreams is to try to restore our psychological balance by producing dream material that re-establishes, in a subtle way, the total psychic equilibrium. This is what I call the complementary (or compensatory) role of dreams in our psychic make-up. It explains why people who have unrealistic ideas or too high an opinion of themselves, or who make grandiose plans out of proportion to their real capacities, have dreams of flying or falling. The dream compensates for the deficiencies of their personalities, and at the same time it warns them of the dangers in their present course. If the warnings of the dream are disregarded, real accidents may take their place. The victim may fall downstairs or may have a motor accident.

Time was minutely calculated everywhere in the vast plant so that top managers knew precisely what everyone was supposed to be doing at a given moment. Bell was struck, for instance, by how General Motors “divides the hour into ten six-minute periods…the worker is paid by the numbers of tenths of an hour he works.”27 This minute engineering of work time was connected to very long measures of time in the corporation as well. Seniority pay was finely tuned to the total number of hours a man or woman had worked for General Motors; a laborer could minutely calculate benefits of vacation time and sick leave. The micrometrics of time governed the lower echelons of white-collar offices as well as manual labor on the assembly line, in terms of promotion and benefits.

One moral of this little story might be that once you’ve burned a bridge with lies, it may be that nothing short of divine intervention can rebuild the relationship and create a positive result.

The two little girls and I crossed the Delaware River where George Washington had crossed it, the next morning. We went to the New York World’s Fair, saw what the past had been like, according to the Ford Motor Car Company and Walt Disney, saw what the future would be like, according to General Motors. And I asked myself about the present: how wide it was, how deep it was, how much was mine to keep.

We know what it is to get out of bed on a freezing morning in a room without a fire, and how the very vital principle within us protests against the ordeal. Probably most persons have lain on certain mornings for an hour at a time unable to brace themselves to the resolve. We think how late we shall be, how the duties of the day will suffer; we say, “I must get up, this is ignominious,” etc.; but still the warm couch feels too delicious, the cold outside too cruel, and resolution faints away and postpones itself again and again just as it seemed on the verge of bursting the resistance and passing over into the decisive act. Now how do we ever get up under such circumstances? If I may generalize from my own experience, we more often than not get up without any struggle or decision at all. We suddenly find that we have got up. A fortunate lapse of consciousness occurs; we forget both the warmth and the cold; we fall into some revery connected with the day’s life, in the course of which the idea flashes across us, “Hollo! I must lie here no longer” – an idea which at that lucky instant awakens no contradictory or paralyzing suggestions, and consequently produces immediately its appropriate motor effects. It was our acute consciousness of both the warmth and the cold during the period of struggle, which paralyzed our activity then and kept our idea of rising in the condition of wish and not of will. The moment these inhibitory ideas ceased, the original idea exerted its effects.

Neglect of what is genuinely human is the major reason why so many people in American business right now feel more victimized than helped by the latest management techniques and companywide processes for improvement.

Most Web activities do not generate jobs and revenue at the rate of past technological breakthroughs. When Ford and General Motors were growing in the early part of the twentieth century, they created millions of jobs and helped build Detroit into a top-tier U.S. city. Today, Facebook creates a lot of voyeuristic pleasure, but the company doesn’t employ many people and hasn’t done much for Palo Alto; a lot of the “work” is performed more or less automatically by the software and the servers. You could say that the real work is done by its users, in their spare time and as a form of leisure. Web 2.0 is not filling government coffers or supporting many families, even though it’s been great for users, programmers, and some information technology specialists. Everyone on the Web has heard of Twitter, but as of Fall 2010, only about three hundred people work there.

Having seen several hundred lease agreements entered into by people I have counseled, my financial calculator confirms that the average interest rate is 14 percent. Shouldn’t you lease or rent things that go down in value? Not necessarily, and the math doesn’t work on a car, for sure. Follow me through this example: If you rent (lease) a car with a value of $22,000 for three years, and when you turn it in at the end of that three-year lease the car is worth $10,000, someone has to cover the $12,000 loss. You’re not stupid, so you know that General Motors, Ford, or any of the other auto giants aren’t going to put together a plan to lose money. Your fleece/lease payment is designed to cover the loss in value ($12,000 spread over 36 months is equal to $333 per month), plus provide profit (the interest you pay). Where did you get a deal in that? You didn’t! On top of that, there is the charge of 10 to 17 cents per mile for going over the allotted miles and the penalties everyone turning in a lease has experienced for “excessive wear and tear,” which takes into account every little nick, dent, carpet tear, smudge, or smell. You end up writing a large check just to walk away after renting your car. The whole idea of the back-end penalties is twofold: to get you to fleece/lease another one so you can painlessly roll the gotchas into the new lease, and to make sure the car company makes money.

In June 1940, immediately after France surrendered to the invading Nazis, Rieber and Westrick took part in a celebratory dinner in a private room at New York’s Waldorf-Astoria Hotel, where executives of Ford, General Motors, Eastman Kodak, and other companies talked about the prospects for American cooperation with the Nazi regime that seemed certain to dominate Europe for the foreseeable future. Germany would be a good credit risk for American loans, Westrick said, and there should definitely be no more of this nonsense of selling US arms to the British.

In Detroit, Dr. Forest Dodrill, a surgeon at Wayne State University, collaborated with engineers at General Motors Research to develop a mechanical pump capable of supporting the circulation of an adult. The resulting stainless-steel and glass device, the Dodrill-GMR mechanical heart pump, had multiple cylinders from which blood circulated and, perhaps not surprisingly, bore an uncanny resemblance to a Cadillac V-12 automobile engine. The device was intended to temporarily replace either the right or left ventricle and was first used in 1952 to support a patient for fifty minutes while Dr. Dodrill repaired a mitral valve.

We have had thousands of years of experience in regulating the ownership of land. We know how to build a fence around a field, place a guard at the gate, and control who can go in. Over the past two centuries we have become extremely sophisticated in regulating the ownership of industry; thus today I can own a piece of General Motors and a bit of Toyota by buying their shares. But we don’t have much experience in regulating the ownership of data, which is inherently a far more difficult task, because unlike land and machines, data is everywhere and nowhere at the same time, it can move at the speed of light, and you can create as many copies of it as you want.

What if we fail to stop the erosion of cities by automobiles? What if we are prevented from catalyzing workable and vital cities because the practical steps needed to do so are in conflict with the practical steps demanded by erosion? There is a silver lining to everything. In that case we Americans will hardly need to ponder a mystery that has troubled men for millennia: What is the purpose of life? For us, the answer will be clear, established and for all practical purposes indisputable: The purpose of life is to produce and consume automobiles. It is not hard to understand that the producing and consuming of automobiles might properly seem the purpose of life to the General Motors management, or that it may seem so to other men and women deeply commtted economically or emotionally to this pursuit. If they so regard it, they should be commended rather than cricicized for this remarkable identification of philosophy with daily duty. It is harder to understand, however, why the production and consumption of automobiles should be the purpose of life for this country. Similarly, it is understandable that men who were young in the 1920's were captivated by the vision of the freeway Radiant City, with the specious promise that it would be appropriate to an automobile age. At least it was then a new idea; to men of the generation of New York's Robert Moses, for example, it was radical and exciting in the days when their minds were growing and their ideas forming. Some men tend to cling to old intellectual excitements, just as some belles, when they are old ladies, still cling to the fashions and coiffures of their exciting youth. But it is harder to understand why this form of arrested mental development should be passed on intact to succeeding generations of planners and designers. It is disturbing to think that men who are young today, men who are being trained now for their carreers, should accept *on the grounds that they must be "modern" in their thinking,* conceptions about cities and traffic which are not only unworkably, but also to which nothing new of any significance has been added since their fathers were children.

If buyers either are partially integrated or pose a credible threat of backward integration, they are in a position to demand bargaining concessions.9 The major automobile producers, General Motors and Ford, are well known for using the threat of self-manufacture as a bargaining lever. They engage in the practice of tapered integration, that is, producing some of their needs for a given component in-house and purchasing the rest from outside suppliers. Not only is their threat of further integration particularly credible, but also partial manufacture in-house gives them a detailed knowledge of costs which is a great aid in negotiation. Buyer power can be partially neutralized when firms in the industry offer a threat of forward integration into the buyers’ industry.

But it was also clear that an all-round increase in wealth threatened the destruction—indeed, in some sense was the destruction—of a hierarchical society. In a world in which everyone worked short hours, had enough to eat, lived in a house with a bathroom and a refrigerator, and possessed a motor-car or even an airplane, the most obvious and perhaps the most important form of inequality would already have disappeared. If it once became general, wealth would confer no distinction. It was possible, no doubt, to imagine a society in which wealth, in the sense of personal possessions and luxuries, should be evenly distributed, while power remained in the hands of a small privileged caste. But in practice such a society could not long remain stable. For if leisure and security were enjoyed by all alike, the great mass of human beings who are normally stupefied by poverty would become literate and would learn to think for themselves; and when once they had done this, they would sooner or later realize that the privileged minority had no function, and they would sweep it away. In the long run, a hierarchical society was only possible on a basis of poverty and ignorance.

But it was also clear that an all-round increase in wealth threatened the destruction—indeed, in some sense was the destruction—of a hierarchical society. In a world in which everyone worked short hours, had enough to eat, lived in a house with a bathroom and a refrigerator, and possessed a motor-car or even an aeroplane, the most obvious and perhaps the most important form of inequality would already have disappeared. If it once became general, wealth would confer no distinction. It was possible, no doubt, to imagine a society in which wealth, in the sense of personal possessions and luxuries, should be evenly distributed, while power remained in the hands of a small privileged caste. But in practice such a society could not long remain stable. For if leisure and security were enjoyed by all alike, the great mass of human beings who are normally stupefied by poverty would become literate and would learn to think for themselves; and when once they had done this, they would sooner or later realise that the privileged minority had no function, and they would sweep it away. In the long run, a hierarchical society was only possible on a basis of poverty and ignorance.

He heard them laughing, the Weathermen, the Panthers, the angry ragtag army of the violent Uncorrupted who called him a criminal and hated his guts because he was one of those who own and have. The Swede finally found out! They were delirious with joy, delighted having destroyed his once-pampered daughter and ruined his privileged life, shepherding him at long last to their truth, to the truth as they knew it to be for every Vietnamese man, woman, child, and tot, for every colonized black in America, for everyone everywhere who had been fucked over by the capitalists and their insatiable greed. The something that’s demented, honky, is American history! It’s the American empire! It’s Chase Manhattan and General Motors and Standard Oil and Newark Maid Leatherware! Welcome aboard, capitalist dog! Welcome to the fucked-over-by-America human race!

the Big Three own, which include America’s major airlines (American, Delta, United Continental), much of Wall Street (JPMorgan Chase, Wells Fargo, Bank of America, Citigroup) and car makers such as Ford and General Motors. Together, the Big Three are the largest single shareholder in almost 90 per cent of firms listed in the New York Stock Exchange, including Apple, Microsoft, ExxonMobil, General Electric and Coca-Cola. As for the dollar value of the Big Three’s shares, it has too many zeros to mean much. At the time of writing, BlackRock manages nearly $10 trillion in investments, Vanguard $8 trillion and State Street $4 trillion. To make sense of these numbers: they are almost exactly the same as the US national income; or the sum of the national incomes of China and Japan; or the sum of the total income of the eurozone, the UK, Australia, Canada and Switzerland.

But besides having this special feature which is difficult to isolate, we notice that anxiety is accompanied by fairly definite physical sensations which can be referred to particular organs of the body. [...] The clearest and most frequent ones are those connected with the respiratory organs and with the heart. They provide evidence that motor innervations—that is, processes of discharge—play a part in the general phenomenon of anxiety.

Richard Walther Darré made in his testimony at Nuremberg about the general law that governed the development of National Socialism: “When one looks at the basics of things, the force driving this rotating stage is always Hitler himself. He causes…the motion that is transferred to figures whose dynamics release other dynamics, but the central figure Hitler with his surprising impetuses always remains the actual motor of the rotating stage.

Conservatives concerned about the “creeping socialism” of the welfare state under Truman were emboldened by the Republican gains in the midterm elections of 1950. In an upbeat letter to Alfred Sloan, the head of General Motors and an ardent supporter of his work, Fifield reflected on the recent returns. “We are having quite a deluge of letters from across the country, indicating the feeling that Spiritual Mobilization has had some part in the awakening which was evidenced by the elections,” he wrote. “Of course, we are a little proud and very happy for whatever good we have been able to do in waking people up to the peril of collectivism and the importance of Freedom under God.” But the battle was far from won. “I do not consider that we can relax our efforts in any way or at any point,” Fifield noted. “It is still a long road back to what was and, please God, will again be America.”47

In the early 1980s, managers at the National Aeronautics and Space Administration (NASA) estimated that the flights would be 99.999 percent reliable, which represents a failure rate of only 1 in 100,000. According to the physicist Richard Feynman, who was a member of the commission that investigated the January 1986 Challenger accident, in which the shuttle broke apart shortly into its flight, killing all seven astronauts on board, this “would imply that one could put a Shuttle up each day for 300 years expecting to lose only one.” He wondered, “What is the cause of management’s fantastic faith in the machinery?” Engineers, who were more familiar with the shuttle itself and with machines in general, predicted only a 99 percent success rate, or a failure every 100 launches. A range safety officer, who personally observed test firings during the developmental phase of the rocket motors, expected a failure rate of 1 in 25. The Challenger accident proved that estimate to be the actual failure rate, giving a success rate of 96 percent after exactly 25 launchings.

Ford and General Motors executives made a big deal of the occasion by driving to Washington in their hybrid vehicles. Mulally of Ford came in an Escape SUV hybrid. Wagoner of General Motors was chauffeured in a Chevy Malibu hybrid. Poor Bob Nardelli of Chrysler. The pickings were slim. Chrysler, known more for the styling of it's bodies than for its technological savvy, sent Nardelli to Washington in an Aspen Hybrid SUV, about the only "green" thing Chrysler had to offer. Problem is, it was a terrible vehicle and unreliable. Despite being partially powered by a battery, the Aspen ran on a V-8 Hemi and got less than twenty miles to the gallon. The charging system was flawed and difficult to service. His driver was Mike Carlisle, the homicide detective who had retired from the Detroit Police Department just a month earlier. The media was invited to snap bon voyage photographs in Detroit, which they dutifully filed. What they did not see -and what Carlisle later told me- was that there were two engineers tailing Nardelli at a discreet three-mile buffer, carrying laptops and a trunk full of tolls in case the Aspen broke down. Even Chrysler didn't trust their products.

Sean started the engine and putted through the marina waters, and Adam had the nerve to plop onto the seat across the aisle from me. Sean reached the edge of the idle zone and cranked the boat into top speed. Adam called to me so softly I could barely catch his words over the motor, “Close your legs.” “What for? I waxed!” I looked down to make sure. This was okay now, because Sean was facing the other way and couldn’t hear me in the din. Indeed, I was clean. I spread my legs even wider, put my arms on the back of the seat, and generally took up as much room as possible, like a boy. I glanced back over at Adam. “Does it make you uncomfortable for me to sit this way?” He watched me warily. “Yes.” “May I suggest that this is your problem and not mine?” He licked his lips and bent toward me. “If it keeps Sean from asking you out, it’s going to be your problem, and you’re going to make it my problem.” “Speaking of which,” I said, crossing my legs like a girl. “Thanks for staying out of my way. How the hell am I supposed to get Sean to ask me out when he’s all pissy?” “You wanted me to lose to him at team calisthenics? That was too sweet to miss.” “You didn’t have to win by quite so much, Adam. You knew I needed him in a good mood. You didn’t have to rub it in.” Adam grinned. “And you wanted me to stop growing?” “Do not make a joke about your size. If you can’t think of anything to talk about except your large size, please say nothing at all.

(i) Social benefits. When we first started writing about higher education, we had a good deal of sympathy for the first justification. We no longer do. In the interim we have tried to induce the people who make this argument to be specific about the alleged social benefits. The answer is almost always simply bad economics. We are told that the nation benefits by having more highly skilled and trained people, that investment in providing such skills is essential for economic growth, that more trained people raise the productivity of the rest of us. These statements are correct. But none is a valid reason for subsidizing higher education. Each statement would be equally correct if made about physical capital (i.e., machines, factory buildings, etc.), yet hardly anyone would conclude that tax money should be used to subsidize the capital investment of General Motors or General Electric. If higher education improves the economic productivity of individuals, they can capture that improvement through higher earnings, so they have a private incentive to get the training. Adam Smith's invisible hand makes their private interest serve the social interest. It is against the social interest to change their private interest by subsidizing schooling. The extra students—those who will only go to college if it is subsidized—are precisely the ones who judge that the benefits they receive are less than the costs. Otherwise they would be willing to pay the costs themselves.

Forecasts of completely autonomous road vehicles were made repeatedly during the 2010s: completely self-driving cars were to be everywhere by 2020, allowing the operator to read or sleep during a commute in a personal vehicle. All internal combustion engines currently on the road were to be replaced by electric vehicles by 2025: this forecast was made and again widely reported as a nearly accomplished fact in 2017. A reality check: in 2022 there were no fully self-driving cars; fewer than 2 percent of the world’s 1.4 billion motor vehicles on the road were electric, but they were not “green,” as the electricity required for their operation came mostly from burning fossil fuels: in 2022 about 60 percent of all electricity in general came from burning coal and natural gas.

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

The practice of tipping a paint brush started contaminating everybody and everything in a watch dial factory. Painters noticed that after sneezing into a handkerchief, it would glow. You could see the brush twirlers walking home after dark. Their hair showed a ghostly green excitation, and they could spell out words in the air with their luminous fingers. Some, thinking outside the box, started painting their teeth, fingernails, eyelashes, and other body parts with the luminous paint, then stealing away to the bathroom, turning out the lights, and admiring the effect in the mirror. There was no problem finding gross radium contamination in a factory. There was no need for a radiation detection instrument. All you had to do was close the blinds. Everything glowed; even the ceiling. Most workers were each swallowing about 1.75 grams of radioactive paint per day. By 1922, things started going bad in the radium dial industry. In the next two years, nine young radium painters in the West Orange factory died, and 12 were suffering from devastating illnesses. US Radium, the biggest watch-dial maker in town, strongly denied that anything in their plant could be causing this. No autopsies were performed, and the death certificates recorded anemia, syphilis, stomach ulcers, and necrosis of the jaw as causes. The dead and ailing, however, had dentists in common, and these health professionals had noticed unusual breakdowns of the jaws and teeth in all of these women. It was beginning to look like another case of an occupational hazard, following closely behind tetraethyl lead exposure at General Motors and “phossy jaw” from white phosphorus fumes in the match industry. Could it be the radium?

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

We define a bargain issue as one which, on the basis of facts established by analysis, appears to be worth considerably more than it is selling for. The genus includes bonds and preferred stocks selling well under par, as well as common stocks. To be as concrete as possible, let us suggest that an issue is not a true “bargain” unless the indicated value is at least 50% more than the price. What kind of facts would warrant the conclusion that so great a discrepancy exists? How do bargains come into existence, and how does the investor profit from them? There are two tests by which a bargain common stock is detected. The first is by the method of appraisal. This relies largely on estimating future earnings and then multiplying these by a factor appropriate to the particular issue. If the resultant value is sufficiently above the market price—and if the investor has confidence in the technique employed—he can tag the stock as a bargain. The second test is the value of the business to a private owner. This value also is often determined chiefly by expected future earnings—in which case the result may be identical with the first. But in the second test more attention is likely to be paid to the realizable value of the assets, with particular emphasis on the net current assets or working capital. At low points in the general market a large proportion of common stocks are bargain issues, as measured by these standards. (A typical example was General Motors when it sold at less than 30 in 1941, equivalent to only 5 for the 1971 shares. It had been earning in excess of $4 and paying $3.50, or more, in dividends.) It is true that current earnings and the immediate prospects may both be poor, but a levelheaded appraisal of average future conditions would indicate values far above ruling prices. Thus the wisdom of having courage in depressed markets is vindicated not only by the voice of experience but also by application of plausible techniques of value analysis.

Financial Times commentator Martin Wolf concluded in 2010: "We already know that the earthquake of the past few years has damaged Western economies, while leaving those of emerging countries, particularly Asia, standing. It has also destroyed Western prestige. The West has dominated the world economically and intellectually for at least two centuries. That epoch is now over. Hitherto, the rulers of emerging countries disliked the West's pretensions, but respected its competence. This is true no longer. Never again will the West have the sole word." I was reminded of the Asian financial crisis in 1997. When Asian economies were devastated by similarly foolish borrowing the West – including the International Monetary Fund and World Bank – prescribed bitter medicine. They extolled traditional free market principles: Asia should raise interest rates to support sagging currencies, while state spending, debt, subsidies should be cut drastically. Banks and companies in trouble should be left to fail, there should be no bail-outs. South Korea, Thailand, Indonesia were pressured into swallowing the bitter medicine. President Suharto paid the ultimate price: he was forced to resign. Anger against the IMF was widespread. I was in Los Angeles for a seminar organised by the Claremont McKenna College to discuss, among other things, the Asian crisis. The Thai speaker resorted to profanity: F-- the IMF, he screamed. The Asian press was blamed by some Western academics. If we had the kind of press freedoms the West enjoyed, we could have flagged the danger before the crisis hit. Western credibility was torn to shreds when the financial tsunami struck Wall Street. Shamelessly abandoning the policy prescriptions they imposed on Asia, they decided their banks and companies like General Motors were too big to fail. How many Asian countries could have been spared severe pain if they had ignored the IMF? How vain was their criticism of the Asian press, for the almost unfettered press freedoms the West enjoyed had failed to prevent catastrophe.

But it was also clear that an all-round increase in wealth threatened the destruction—indeed, in some sense was the destruction—of a hierarchical society. In a world in which everyone worked short hours, had enough to eat, lived in a house with a bathroom and a refrigerator, and possessed a motor-car or even an aeroplane, the most obvious and perhaps the most important form of inequality would already have disappeared. If it once became general, wealth would confer no distinction. It was possible, no doubt, to imagine a society in which wealth, in the sense of personal possessions and luxuries, should be evenly distributed, while power remained in the hands of a small privileged caste. But in practice such a society could not long remain stable. For if leisure and security were enjoyed by all alike, the great mass of human beings who are normally stupefied by poverty would become literate and would learn to think for themselves; and when once they had done this, they would sooner or later realize that the privileged minority had no function, and they would sweep it away. In the long run, a hierarchical society was only possible on a basis of poverty and ignorance.

Even if patients with a severed corpus callosum are in fact harboring two distinct loci of experience, this does not show that they or individuals with normal brains do not harbor many more experiencers within them, because the behaviors and reports elicited in experiments do not speak to that question. As Thomas Nagel points out in one of the first philosophical treatments of the split-brain phenomenon, there is no reason to think that verbalizability, or, we might add, any motor output capacity, is a necessary condition for subjective experience. Because measurable outputs will generally occur at the level of maximal integration - that is, at the level of the organism as a whole - they say rather little about the presence of subjective experience in subsystems that are nested within the main system, whether these subsystems are neuronal networks or even neurons themselves. The notion of nested experiencers may counterintuitive, but if we have learned any lesson from modern science, it is that the range of things that exist and the range of things that are intuitively plausible often fail to overlap. It is probably best, therefore, to remain agnostic as to whether there are nested experiencers within maximally integrated conscious systems.

Broca’s area is adjacent to the part of the motor-control strip dedicated to the jaws, lip, and tongue, and it was once thought that Broca’s area is involved in the production of language (though obviously not speech per se, because writing and signing are just as affected). But the area seems to be implicated in grammatical processing in general. A defect in grammar will be most obvious in the output, because any slip will lead to a sentence that is conspicuously defective. Comprehension, on the other hand, can often exploit the redundancy in speech to come up with sensible interpretations with little in the way of actual parsing. For example, one can understand The dog bit the man or The apple that the boy is eating is red just by knowing that dogs bite men, boys eat apples, and apples are red. Even The car pushes the truck can be guessed at because the cause is mentioned before the effect. For a century, Broca’s aphasics fooled neurologists by using shortcuts. Their trickery was finally unmasked when psycholinguists asked them to act out sentences that could be understood only by their syntax, like The car is pushed by the truck or The girl whom the boy is pushing is tall. The patients gave the correct interpretation half the time and its opposite half the time—a mental coin flip.

So how much sleep is enough? Generally, sleep specialists recommend that adults get between seven and nine hours of sleep per night, though there is no perfect number for the amount of sleep you may need personally. Doctors and scientists agree on one thing overall, however: Getting too little sleep—five hours a night or less for most people—results in a wide range of cognitive and physical impairments. Neurons in the brain can’t consolidate the information you’ve taken in, so you don’t store memories and you lose the ability to use this information. Add to this the compromised motor control, lack of focus, and difficulty with decision making and problem solving that come with sleep deprivation, and you may think twice about catching The Tonight Show and choose to turn in earlier than usual. Stress When your brain is bombarded with stimuli that trigger anxiety, you experience stress—a series of biological and chemical processes throughout your body that initiates a fight-or-flight response. In a nutshell, here’s what happens: Your sympathetic nervous system, commanded by the hypothalamus—a small area at your brain’s base—releases stress hormones that ready you to deal with whatever threat has emerged. First, your adrenal glands (on top of your kidneys) release adrenaline, which causes increases in breathing rate, heart rate, and blood pressure. These glands also release cortisol, which increases

The first thing to note about Korean industrial structure is the sheer concentration of Korean industry. Like other Asian economies, there are two levels of organization: individual firms and larger network organizations that unite disparate corporate entities. The Korean network organization is known as the chaebol, represented by the same two Chinese characters as the Japanese zaibatsu and patterned deliberately on the Japanese model. The size of individual Korean companies is not large by international standards. As of the mid-1980s, the Hyundai Motor Company, Korea’s largest automobile manufacturer, was only a thirtieth the size of General Motors, and the Samsung Electric Company was only a tenth the size of Japan’s Hitachi.1 However, these statistics understate their true economic clout because these businesses are linked to one another in very large network organizations. Virtually the whole of the large-business sector in Korea is part of a chaebol network: in 1988, forty-three chaebol (defined as conglomerates with assets in excess of 400 billion won, or US$500 million) brought together some 672 companies.2 If we measure industrial concentration by chaebol rather than individual firm, the figures are staggering: in 1984, the three largest chaebol alone (Samsung, Hyundai, and Lucky-Goldstar) produced 36 percent of Korea’s gross domestic product.3 Korean industry is more concentrated than that of Japan, particularly in the manufacturing sector; the three-firm concentration ratio for Korea in 1980 was 62.0 percent of all manufactured goods, compared to 56.3 percent for Japan.4 The degree of concentration of Korean industry grew throughout the postwar period, moreover, as the rate of chaebol growth substantially exceeded the rate of growth for the economy as a whole. For example, the twenty largest chaebol produced 21.8 percent of Korean gross domestic product in 1973, 28.9 percent in 1975, and 33.2 percent in 1978.5 The Japanese influence on Korean business organization has been enormous. Korea was an almost wholly agricultural society at the beginning of Japan’s colonial occupation in 1910, and the latter was responsible for creating much of the country’s early industrial infrastructure.6 Nearly 700,000 Japanese lived in Korea in 1940, and a similarly large number of Koreans lived in Japan as forced laborers. Some of the early Korean businesses got their start as colonial enterprises in the period of Japanese occupation.7 A good part of the two countries’ émigré populations were repatriated after the war, leading to a considerable exchange of knowledge and experience of business practices. The highly state-centered development strategies of President Park Chung Hee and others like him were formed as a result of his observation of Japanese industrial policy in Korea in the prewar period.

When General Genius built the first mentar [Artificial Intelligence] mind in the last half of the twenty-first century, it based its design on the only proven conscious material then known, namely, our brains. Specifically, the complex structure of our synaptic network. Scientists substituted an electrochemical substrate for our slower, messier biological one. Our brains are an evolutionary hodgepodge of newer structures built on top of more ancient ones, a jury-rigged system that has gotten us this far, despite its inefficiency, but was crying out for a top-to-bottom overhaul. Or so the General genius engineers presumed. One of their chief goals was to make minds as portable as possible, to be easily transferred, stored, and active in multiple media: electronic, chemical, photonic, you name it. Thus there didn't seem to be a need for a mentar body, only for interchangeable containers. They designed the mentar mind to be as fungible as a bank transfer. And so they eliminated our most ancient brain structures for regulating metabolic functions, and they adapted our sensory/motor networks to the control of peripherals. As it turns out, intelligence is not limited to neural networks, Merrill. Indeed, half of human intelligence resides in our bodies outside our skulls. This was intelligence the mentars never inherited from us. ... The genius of the irrational... ... We gave them only rational functions -- the ability to think and feel, but no irrational functions... Have you ever been in a tight situation where you relied on your 'gut instinct'? This is the body's intelligence, not the mind's. Every living cell possesses it. The mentar substrate has no indomitable will to survive, but ours does. Likewise, mentars have no 'fire in the belly,' but we do. They don't experience pure avarice or greed or pride. They're not very curious, or playful, or proud. They lack a sense of wonder and spirit of adventure. They have little initiative. Granted, their cognition is miraculous, but their personalities are rather pedantic. But probably their chief shortcoming is the lack of intuition. Of all the irrational faculties, intuition in the most powerful. Some say intuition transcends space-time. Have you ever heard of a mentar having a lucky hunch? They can bring incredible amounts of cognitive and computational power to bear on a seemingly intractable problem, only to see a dumb human with a lucky hunch walk away with the prize every time. Then there's luck itself. Some people have it, most don't, and no mentar does. So this makes them want our bodies... Our bodies, ape bodies, dog bodies, jellyfish bodies. They've tried them all. Every cell knows some neat tricks or survival, but the problem with cellular knowledge is that it's not at all fungible; nor are our memories. We're pretty much trapped in our containers.

Missy and I were married on August 10, 1990. To say our marriage got off to a rocky start would be an understatement. My brothers and closest friends took me frog-hunting the night before my wedding for my bachelor party. As we were searching for frogs, my oldest brother, Alan, gave me a lot of advice on marriage in general as we motored along the bayou. The main thing he reminded me of is that God is the architect of marriage. Having a great relationship with our Creator is the best thing you can do for your marriage relationship. Alan gave me an illustration of a triangle with the husband and wife on the bottom corners and God at the top corner. His point was that as each person moves closer to God, they also move closer to each other. I never forgot that and he was right. I was mainly the motorman that night and was filled with anxiety and anticipation of the wedding. As we moved along, we saw two big frogs mating on the riverbank. “Whoa, there you go!” Al shouted. It kind of broke the ice for a conversation about intimacy and sex. Missy and I had not seen each other much in the previous couple of months because we couldn’t keep our hands off each other. Many times we had to remind each other of our commitment to stay pure and had had many prayers together. We were not perfect, but one of us would always stop things from getting too heated. Eventually, we decided to have only a long-distance relationship via telephone and our face-to-face encounters became limited to church and public gatherings. As our wedding was approaching, Missy and I were both a little bit nervous about having sex for the first time. I think that’s the way it is when you’re both virgins. We were both excited because we’d decided to save ourselves for marriage and our big night was finally here!

We are conscious of only a tiny fraction of the information that our brains process in each moment.1 Although we continually notice changes in our experience—in thought, mood, perception, behavior, etc.—we are utterly unaware of the neurophysiological events that produce them. In fact, we can be very poor witnesses to experience itself. By merely glancing at your face or listening to your tone of voice, others are often more aware of your state of mind and motivations than you are. I generally start each day with a cup of coffee or tea—sometimes two. This morning, it was coffee (two). Why not tea? I am in no position to know. I wanted coffee more than I wanted tea today, and I was free to have what I wanted. Did I consciously choose coffee over tea? No. The choice was made for me by events in my brain that I, as the conscious witness of my thoughts and actions, could not inspect or influence. Could I have “changed my mind” and switched to tea before the coffee drinker in me could get his bearings? Yes, but this impulse would also have been the product of unconscious causes. Why didn’t it arise this morning? Why might it arise in the future? I cannot know. The intention to do one thing and not another does not originate in consciousness—rather, it appears in consciousness, as does any thought or impulse that might oppose it. The physiologist Benjamin Libet famously used EEG to show that activity in the brain’s motor cortex can be detected some 300 milliseconds before a person feels that he has decided to move.2 Another lab extended this work using functional magnetic resonance imaging (fMRI): Subjects were asked to press one of two buttons while watching a “clock” composed of a random sequence of letters appearing on a screen. They reported which letter was visible at the moment they decided to press one button or the other. The experimenters found two brain regions that contained information about which button subjects would press a full 7 to 10 seconds before the decision was consciously made.3 More recently, direct recordings from the cortex showed that the activity of merely 256 neurons was sufficient to predict with 80 percent accuracy a person’s decision to move 700 milliseconds before he became aware of it.4 These findings are difficult to reconcile with the sense that we are the conscious authors of our actions. One fact now seems indisputable: Some moments before you are aware of what you will do next—a time in which you subjectively appear to have complete freedom to behave however you please—your brain has already determined what you will do. You then become conscious of this “decision” and believe that you are in the process of making it. The distinction between “higher” and “lower” systems in the brain offers no relief: I, as the conscious witness of my experience, no more initiate events in my prefrontal cortex than I cause my heart to beat. There will always be some delay between the first neurophysiological events that kindle my next conscious thought and the thought itself. And even if there weren’t—even if all mental states were truly coincident with their underlying brain states—I cannot decide what I will next think or intend until a thought or intention arises. What will my next mental state be? I do not know—it just happens. Where is the freedom in that?

Why not give ME 50 billion dollars. I can go build a car plant and make cars. I can go employ people. Give me 50 billion dollars. You gotta go give it to people who already proved that they're failures?

Directors of the League were identified as also being directors of U.S. Steel, General Motors, Standard Oil, Chase National Bank, Goodyear Tire, and Mutual Life Insurance Company.

Munger observed that it’s a problem to prevent success and wealth from creating your demise. General Motors was the most successful company in the world at one time and then became a victim of its success with large unionization and very tough competition eventually wiping out the shareholders.

J'appelle "société de provocation" toute société d'abondance et en expansion économique qui se livre à l'exhibitionnisme constant de ses richesses et pousse à la consommation et à la possession par la publicité, les vitrines de luxe, les étalages alléchants, tout en laissant en marge une fraction importante de la population qu'elle provoque à l'assouvissement de ses besoins réels ou artificiellement créés, en même temps qu'elle lui refuse les moyens de satisfaire cet appétit. Comment peut-on s'étonner, lorsqu'un jeune Noir du ghetto, cerné de Cadillac et de magasins de luxe, bombardé à la radio et à la télévision par une publicité frénétique qui le conditionne à sentir qu'il ne peut pas se passer de ce qu'elle lui propose, depuis le dernier modèle annuel "obligatoire" sorti par la General Motors ou Westinghouse, les vêtements, les appareils de bonheur visuels et auditifs, ainsi que les cent mille autres réincarnations saisonnières de gadgets dont vous ne pouvez vous passer à moins d'être un plouc, comment s'étonner, dites-le-moi, si ce jeune finit par se ruer à la première occasion sur les étalages béants derrière les vitrines brisées ? Sur un plan plus général, la débauche de prospérité de l'Amérique blanche finit par agir sur les masses sous-développées mais informées du tiers monde comme cette vitrine d'un magasin de luxe de la Cinquième Avenue sur un jeune chômeur de Harlem. J'appelle donc "société de provocation" une société qui laisse une marge entre les richesses dont elle dispose et qu'elle exalte par le strip-tease publicitaire, par l'exhibitionnisme du train de vie, par la sommation à acheter et la psychose de la possession, et les moyens qu'elle donne aux masses intérieures ou extérieures de satisfaire non seulement les besoins artificiellement créés, mais encore et surtout les besoins les plus élémentaires.

General Motors sells more cars in China than in the United States. Before the Trump trade war, up to 60 percent of U.S. soybean exports went to China, and Apple sold $40 billion a year of iPhones. China was also expected to become the biggest market for U.S. LNG.

Google is to surveillance capitalism what the Ford Motor Company and General Motors were to mass-production–based managerial capitalism.

Is that them?” “No, that’s a Pontiac.” “It is?” Angela watched it go by. “Well, what were they in?” “A Chevrolet.” “I can’t tell the difference,” she admitted. “There isn’t any.” She looked at me, to see if I was kidding, and said, “Then how do you tell them apart?” “The hood ornament. All General Motors cars have different hood ornaments. That’s so the salesmen can tell how much to charge.

There’s a famous story in the business world about Alfred P. Sloan, the CEO of General Motors. “I take it we’re all in complete agreement on the decision here,” Sloan once said, looking around a conference table at the members of one of his top committees. Everyone looked back and nodded. “Then I propose we postpone further discussion of this matter until our next meeting,” he continued, “to give ourselves time to develop disagreement and perhaps gain understanding of what the decision is all about.

A stock that Raskob liked was General Motors. Hearing in 1913 that GM founder William C. Durant found himself in financial difficulties that forced him to borrow $15 million from banks, Raskob decided that GM was a good buy. He soon became bullish on GM in particular and the automotive business in general, and he induced Pierre du Pont to invest heavily in GM stock.

Bolivar prophesied shrewdly that the United States seemed fated by Providence to plague America with woes in the name of liberty. General Motors or IBM will not step graciously into our shoes and raise the old banners of unity and emancipation which fell in battle; nor can heroes betrayed yesterday be redeemed by the traitors of today. It is a big load of rottenness that has to be sent to the bottom of the sea on the march to Latin America's reconstruction. The task lies in the hands of the dispossessed, the humiliated, the accursed. The Latin American cause is above all a social cause: the rebirth of Latin America must start with the overthrow of its masters, country by country. We are entering times of rebellion and change. There are those who believe that destiny rests on the knees of the gods; but the truth is that it confronts the conscience of man with a burning challenge.

We have been led to believe that, from the beginning, as our Founding Fathers put it in the Preamble to the Constitution, it was “we the people” who established the new government after the Revolution. When the eminent historian Charles Beard suggested, a hundred years ago, that the Constitution represented not the working people, not the slaves, but the slaveholders, the merchants, the bondholders, he became the object of an indignant editorial in The New York Times. Our culture demands, in its very language, that we accept a commonality of interest binding all of us to one another. We mustn’t talk about classes. Only Marxists do that, although James Madison, “Father of the Constitution,” said, thirty years before Marx was born that there was an inevitable conflict in society between those who had property and those who did not. Our present leaders are not so candid. They bombard us with phrases like “national interest,” “national security,” and “national defense” as if all of these concepts applied equally to all of us, colored or white, rich or poor, as if General Motors and Halliburton have the same interests as the rest of us, as if George Bush has the same interest as the young man or woman he sends to war. Surely, in the history of lies told to the population, this is the biggest lie. In the history of secrets, withheld from the American people, this is the biggest secret: that there are classes with different interests in this country. To ignore that—not to know that the history of our country is a history of slaveowner against slave, landlord against tenant, corporation against worker, rich against poor—is to render us helpless before all the lesser lies told to us by people in power.

H. Thomas Johnson and Robert S. Kaplan, in their classic book Relevance Lost, tell how General Motors developed the divisional system—with income statements for each division—in the first half of the twentieth century.

Going public is a sign a company has found enough competitive advantages to scale into a large corporation. But almost 40% of all public companies lost all their value from 1980-2014. A list of top ten fortune 500 companies that went bankrupts includes: General Motors, Crysler, Kodak and Sears. General Electric, Time Warner, AIG and Motorola. Countries follow similar fates. At various points in the past, the world scientific and economic progress has been dominate by Asia, Europe and the Middle East. Whenever a once-powerful thing loses an advantage, it's tempting to ridicule the mistakes of it's leaders but it's easy to overlook how many forces pull you away from a competitive advantage simply BECAUSE you have one. Success has it's own gravity. The higher the monkey climbs a tree, the easier to see it's ass.

Recordings of encephalographic electrical waves show, amid their jagged spikes and hieroglyph swirls, a signature downward dip signifying that a neuronal mandate for motion is under way: the so-called readiness wave. While the motor cortex produces motion, the readiness wave appears to signal intent. So we should look here for will.

Recordings of encephalographic electrical waves show, amid their jagged spikes and hieroglyph swirls, a signature downward dip signifying that a neuronal mandate for motion is under way: the so-called readiness wave. While the motor cortex produces motion, the readiness wave appears to signal intent. So we should look here for will. When experimenters placed their subjects in front of a clock, however, they found that the conscious experience of a decision to move occurs after the readiness wave has already passed. What we feel as the conscious spark of resolve in this case proves to be an afterthought, not the majestic nexus of initiative we might imagine. Just where and how the early glimmers of intention coalesce, like glittering dust motes into the swirling jinni of action, remains beyond the ken of today’s science. The more we discover, the more we find that we do not know.

In the most sweeping of material calculations, it was estimated that the Allied assault on shipping and the bombing campaign against the home islands destroyed one-quarter of the country’s wealth. This included four-fifths of all ships, one-third of all industrial machine tools, and almost a quarter of all rolling stock and motor vehicles. General MacArthur’s “SCAP” bureaucracy (SCAP, an acronym for Supreme Command[er] for the Allied Powers, was commonly used to refer to MacArthur’s command) placed the overall costs of the war even higher, calculating early in 1946 that Japan had “lost one-third of its total wealth and from one-third to one-half of its total potential income.” Rural living standards were estimated to have fallen to 65 percent of prewar levels and nonrural living standards to about 35 percent.16

Happiness lies not in the mere possession of money; it lies in the joy of achievement, in the thrill of creative effort. The joy and moral stimulation of work no longer must be forgotten in the mad chase of evanescent profits. These dark days will be worth all they cost us if they teach us that our true destiny is not to be ministered unto but to minister to ourselves and to our fellow men.

His personal wealth was larger than the gross domestic product of Hungary; larger than even the market capitalization of General Motors.

You can use standards of legitimacy both as a sword to persuade others, and as a shield to help you resist pressure to give in arbitrarily. (“I would like to give you a discount, but this price is firm. It is what General Motors paid for the same item last week; here is the bill of sale.”) Just as, by finding relevant precedent and principles a lawyer enhances his or her ability to persuade a judge, so a negotiator can enhance his or her negotiation power by finding precedents, principles, and other external criteria of fairness and by thinking of ways to present them forcefully and tellingly: “I am asking for no more and no less than you are paying others for comparable work.” “We will pay what the house is worth if we can afford it. We are offering what the similar house nearby sold for last month. Unless you can give us a good reason why your house is worth more, our

Also in 2020, General Motors unveiled its own new four-hundred-mile-range soft-stack Ultium battery that will reduce cobalt as an input by 70 percent compared to standard EV batteries.

Delays in feedback loops are critical determinants of system behavior. They are common causes of oscillations. If you’re trying to adjust a stock (your store inventory) to meet your goal, but you receive only delayed information about what the state of the stock is, you will overshoot and undershoot your goal. The same is true if your information is timely, but your response isn’t. For example, it takes several years to build an electric power plant that will likely last thirty years. Those delays make it impossible to build exactly the right number of power plants to supply rapidly changing demand for electricity. Even with immense effort at forecasting, almost every electricity industry in the world experiences long oscillations between overcapacity and undercapacity. A system just can’t respond to short-term changes when it has long-term delays. That’s why a massive central-planning system, such as the Soviet Union or General Motors, necessarily functions poorly.