Mechanic Price Quotes

[A] process was going on in which people were transformed into things, into pieces of reality which pure science can calculate and technical science can control. … [T]he safety which is guaranteed by well-functioning mechanisms for the technical control of nature, by the refined psychological control of the person, by the rapidly increasing organizational control of society – this safety is bought at a high price: man, for whom all this was invented as a means, becomes a means himself in the service of means.

Television's perfect. You turn a few knobs, a few of those mechanical adjustments at which the higher apes are so proficient, and lean back and drain your mind of all thought. And there you are watching the bubbles in the primeval ooze. You don't have to concentrate. You don't have to react. You don't have to remember. You don't miss your brain because you don't need it. Your heart and liver and lungs continue to function normally. Apart from that, all is peace and quiet. You are in the man's nirvana. And if some poor nasty minded person comes along and says you look like a fly on a can of garbage, pay him no mind. He probably hasn't got the price of a television set.

We don’t use the word crazy around here. We prefer coping mechanism.

Peasants and princes, bailiffs and bakers' boys, merchants and mermaids, the figures were all immediately familiar. I had read these stories a hundred, a thousand, times before. They were stories everyone knew. But gradually, as I read, their familiarity fell away from them. They became strange. They became new. These characters were not the colored manikins I remembered from my childhood picture books, mechanically acting out the story one more time. They were people.... The stories were shot through with an unfamiliar mood. Everyone achieved their heart's desire...but only when it was too late did they realize the price they must pay for escaping their destiny. Every Happy Ever After was tainted.

the price system is a mechanism for coordinating knowledge; and

Human beings had polluted the seawater and mechanically destroyed the nearby coast; all life had paid this price. Often, in airports, on sidewalks, at restaurants, children and adults alike stop me to ask about barracuda and sharks; killer whales; the deadly sorcery of the Bermuda Triangle; the Loch Ness Monster. When I saw Le Veyron, I believed that the sea’s most monstrous force doesn’t live in Loch Ness. It lives in us.

Because women tend to turn their anger inward and blame themselves, they tend to become depressed and their self-esteem is lowered. This, in turn, causes them to become more dependent and less willing to risk rejection or abandonment if they were to stand up for themselves by asserting their will, their opinions, or their needs. Men often defend themselves against hurt by putting up a wall of nonchalant indifference. This appearance of independence often adds to a woman's fear of rejection, causing her to want to reach out to achieve comfort and reconciliation. Giving in, taking the blame, and losing herself more in the relationship seem to be a small price to pay for the acceptance and love of her partner. As you can see, both extremes anger in and anger out-create potential problems. While neither sex is wrong in the way they deal with their anger, each could benefit from observing how the other sex copes with their anger. Most men, especially abusive ones, could benefit from learning to contain their anger more instead of automatically striking back, and could use the rather female ability to empathise with others and seek diplomatic resolutions to problems. Many women, on the other hand, could benefit from acknowledging their anger and giving themselves permission to act it out in constructive ways instead of automatically talking themselves out of it, blaming themselves, or allowing a man to blame them. Instead of giving in to keep the peace, it would be far healthier for most women to stand up for their needs, their opinions, and their beliefs.

If ignorance about the nature of pain is widespread, ignorance about the way pain-killing drugs is even more so. What is not generally understood is that many of the vaunted pain-killing drugs conceal the pain without correcting the underlying condition. They deaden the mechanism in the body that alerts the brain to the fact that something may be wrong. The body can pay a high price for suppression of pain without regard to its basic cause.

Since the war I have stressed altogether five main objectives. The true union of Europe; the union of government with science; the power of government to act rapidly and decisively, subject to parliamentary control; the effective leadership of government to solve the economic problem by use of the wage-price mechanism at the two key-points of the modern industrial world; and a clearly defined purpose for a movement of humanity to ever higher forms.

Mechanized man, oblivious of floras, is proud of his progress in cleaning up the landscape on which, willy-nilly, he must live out his days. It might be wise to prohibit at once all teaching of real botany and real history, lest some future citizen suffer qualms about the floristic price of his good life.

Is precisely in market dealings that market prices are formed for all kinds of goods and services, which will be taken as the bases of calculation. Where there is no free market, there is no pricing mechanism; without a pricing mechanism, there is no economic calculation." "eben im Marktverkehr für alle Arten von verwendeten Gütern und Arbeiten Marktpreise gebildet werden, die zur Grundlage der Rechnung genommen werden können. Wo der freie Marktverkehr fehlt, gibt es keine Preisbildung; ohne Preisbildung gibt es keine Wirtschaftsrechnung.

Industrial capitalism transformed nature’s raw materials into commodities, and surveillance capitalism lays its claims to the stuff of human nature for a new commodity invention. Now it is human nature that is scraped, torn, and taken for another century’s market project. It is obscene to suppose that this harm can be reduced to the obvious fact that users receive no fee for the raw material they supply. That critique is a feat of misdirection that would use a pricing mechanism to institutionalize and therefore legitimate the extraction of human behavior for manufacturing and sale. It ignores the key point that the essence of the exploitation here is the rendering of our lives as behavioral data for the sake of others’ improved control of us. The remarkable questions here concern the facts that our lives are rendered as behavioral data in the first place; that ignorance is a condition of this ubiquitous rendition; that decision rights vanish before one even knows that there is a decision to make; that there are consequences to this diminishment of rights that we can neither see nor foretell; that there is no exit, no voice, and no loyalty, only helplessness, resignation, and psychic numbing; and that encryption is the only positive action left to discuss when we sit around the dinner table and casually ponder how to hide from the forces that hide from us.

To sing is the most human of the art form delivery, more than, perhaps, an instrument which has to be tuned mechanically. You are the tuner; you are the vessel. Everything depends on how you feel as a person. It is for you to hear how beautiful your instrument is. From you to you with much, much love. That way you can send it out to the public because they make the careers. Once they accept you and your freedom to be and your love for singing they never leave you. There is no love like that.

I am developing new coping mechanisms for lost words and lost negatives, as here for instance: compensate by describing the episode instead. When something is lost, redirect energy, follow the derivé, the chance and flow of what life tosses us, and make something new instead. Remember that I'm often struck by certain passages of descriptive writing, writing that is not about driving home a point but about providing detail, background, setting the scene (it's tempting to call this the stadium of writing). It has a "something from nothing" quality: a pleasurable experience has been had, and no one has paid a price. Remember that writing does not have to be torture (107).

It's much easier to understand the pricing mechanisms for exit transactions if you look at it from the perspective of the professionals doing the business.

No other modern country gives corporations the unfettered power found in America to gouge customers, shortchange workers and erect barriers to fair play. A big reason is that so little of the news, which informs us about the world around us, addresses the private, government-approved mechanisms by which price gouging is employed to redistribute income upward.

To be morally educated is to realize that such would be a terrible price. Mechanical advance is the slack taken up of Our failing humanity. Hell is very likely to be modernization infinitely extended.

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.

The knowledge that is mediated by the left hemisphere is knowledge within a closed system. It has the advantage of perfection, but such perfection is bought ultimately at the price of emptiness, of self-reference. It can mediate knowledge only in terms of a mechanical rearrangement of other things already known. It can never really ‘break out’ to know anything new, because its knowledge is of its own re-presentations only. Where the thing itself is ‘present’ to the right hemisphere, it is only ‘re-presented’ by the left hemisphere, now become an idea of a thing. Where the right hemisphere is conscious of the Other, whatever it may be, the left hemisphere’s consciousness is of itself.

This past soccer season, the league in which my son and daughter were playing had to make up two games due to rain (the price of living in Houston). The consensus in the league was that Sunday was the only available day, so the makeup games were scheduled for Sunday afternoon. My family and I sat down to discuss the matter, but no discussion was really necessary. There was no way we were going to participate. Sunday is the Lord's Day, and playing youth soccer games on Sunday makes a definite statement about the priorities in a community. Interestingly, the most flak from our decision came not from the irreligious people involved but from Christians! “You can go to church, then run home and change for the game,” one man said. One of my children's coaches added, “I'd be glad to pick them up if there is somewhere you have to be.” Nobody seemed to get it. We weren't making a decision based on the hectic nature of our Sunday schedule, nor was it a question of our adhering to a legalistic requirement handed down from our denomination. It was a matter of principle. Sunday is more than just another day. Youth sports leagues are great, but they are not sacred; Sunday is! Again, I do not believe that there is a legalistic requirement not to play games on a Sunday. Nor do I believe that the policeman, fireman, or airline mechanic who goes in to work on Sunday is out of the will of God. I do, however, think that there is a huge difference between someone whose job requires working on Sunday and a soccer league that just doesn't care.

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.

SO, WHERE DOES this leave us? If we can’t rely on the market forces of supply and demand to set optimal market prices, and we can’t count on free-market mechanisms to help us maximize our utility, then we may need to look elsewhere. This is especially the case with society’s essentials, such as health care, medicine, water, electricity, education, and other critical resources. If you accept the premise that market forces and free markets will not always regulate the market for the best, then you may find yourself among those who believe that the government (we hope a reasonable and thoughtful government) must play a larger role in regulating some market activities, even if this limits free enterprise. Yes, a free market based on supply, demand, and no friction would be the ideal if we were truly rational. Yet when we are not rational but irrational, policies should take this important factor into account.

...our desire to stay in control forces us to pay the highest price imaginable - letting our relationship with God gradually grow cold. Before long, we become mechanical and lose all sense of passion in serving the Lord. We can go through the motions, but our lives become hollow and our faith degenerates into mere surface religion.

To think of food as a weapon, or of a weapon as food, may give an illusory security and wealth to a few, but it strikes directly at the life of all. The concept of food-as-weapon is not surprisingly the doctrine of a Department of Agriculture that is being used as an instrument of foreign political and economic speculation. This militarizing of food is the greatest threat so far raised against the farmland and the farm communities of this country. If present attitudes continue, we may expect government policies that will encourage the destruction, by overuse, of farmland. This, of course, has already begun. To answer the official call for more production -- evidently to be used to bait or bribe foreign countries -- farmers are plowing their waterways and permanent pastures; lands that ought to remain in grass are being planted in row crops. Contour plowing, crop rotation, and other conservation measures seem to have gone out of favor or fashion in official circles and are practices less and less on the farm. This exclusive emphasis on production will accelerate the mechanization and chemicalization of farming, increase the price of land, increase overhead and operating costs, and thereby further diminish the farm population. Thus the tendency, if not the intention, of Mr. Butz confusion of farming and war, is to complete the deliverance of American agriculture into the hands of corporations.

A century ago, historians of technology felt that individual inventors were the main actors that brought about the Industrial Revolution. Such heroic interpretations were discarded in favor of views that emphasized deeper economic and social factors such as institutions, incentives, demand, and factor prices. It seems, however, that the crucial elements were neither brilliant individuals nor the impersonal forces governing the masses, but a small group of at most a few thousand people who formed a creative community based on the exchange of knowledge. Engineers, mechanics, chemists, physicians, and natural philosophers formed circles in which access to knowledge was the primary objective. Paired with the appreciation that such knowledge could be the base of ever-expanding prosperity, these elite networks were indispensable, even if individual members were not. Theories that link education and human capital to technological progress need to stress the importance of these small creative communities jointly with wider phenomena such as literacy rates and universal schooling.

The “German problem” after 1970 became how to keep up with the Germans in terms of efficiency and productivity. One way, as above, was to serially devalue, but that was beginning to hurt. The other way was to tie your currency to the deutsche mark and thereby make your price and inflation rate the same as the Germans, which it turned out would also hurt, but in a different way. The problem with keeping up with the Germans is that German industrial exports have the lowest price elasticities in the world. In plain English, Germany makes really great stuff that everyone wants and will pay more for in comparison to all the alternatives. So when you tie your currency to the deutsche mark, you are making a one-way bet that your industry can be as competitive as the Germans in terms of quality and price. That would be difficult enough if the deutsche mark hadn’t been undervalued for most of the postwar period and both German labor costs and inflation rates were lower than average, but unfortunately for everyone else, they were. That gave the German economy the advantage in producing less-than-great stuff too, thereby undercutting competitors in products lower down, as well as higher up the value-added chain. Add to this contemporary German wages, which have seen real declines over the 2000s, and you have an economy that is extremely hard to keep up with. On the other side of this one-way bet were the financial markets. They looked at less dynamic economies, such as the United Kingdom and Italy, that were tying themselves to the deutsche mark and saw a way to make money. The only way to maintain a currency peg is to either defend it with foreign exchange reserves or deflate your wages and prices to accommodate it. To defend a peg you need lots of foreign currency so that when your currency loses value (as it will if you are trying to keep up with the Germans), you can sell your foreign currency reserves and buy back your own currency to maintain the desired rate. But if the markets can figure out how much foreign currency you have in reserve, they can bet against you, force a devaluation of your currency, and pocket the difference between the peg and the new market value in a short sale. George Soros (and a lot of other hedge funds) famously did this to the European Exchange Rate Mechanism in 1992, blowing the United Kingdom and Italy out of the system. Soros could do this because he knew that there was no way the United Kingdom or Italy could be as competitive as Germany without serious price deflation to increase cost competitiveness, and that there would be only so much deflation and unemployment these countries could take before they either ran out of foreign exchange reserves or lost the next election. Indeed, the European Exchange Rate Mechanism was sometimes referred to as the European “Eternal Recession Mechanism,” such was its deflationary impact. In short, attempts to maintain an anti-inflationary currency peg fail because they are not credible on the following point: you cannot run a gold standard (where the only way to adjust is through internal deflation) in a democracy.

Scene I. A little dark Parlour in Boston: Guards standing at the door. Hazlerod, Crusty Crowbar, Simple Sapling, Hateall, and Hector Mushroom. Simple. I know not what to think of these sad times, The people arm'd,—and all resolv'd to die Ere they'll submit.—— Crusty Crowbar. I too am almost sick of the parade Of honours purchas'd at the price of peace. Simple. Fond as I am of greatness and her charms, Elate with prospects of my rising name, Push'd into place,—a place I ne'er expected, My bounding heart leapt in my feeble breast. And ecstasies entranc'd my slender brain.— But yet, ere this I hop'd more solid gains, As my low purse demands a quick supply.— Poor Sylvia weeps,—and urges my return To rural peace and humble happiness, As my ambition beggars all her babes. Crusty. When first I listed in the desp'rate cause, And blindly swore obedience to his will, So wise, so just, so good I thought Rapatio, That if salvation rested on his word I'd pin my faith, and risk my hopes thereon. Hazlerod. Any why not now?—What staggers thy belief? Crusty. Himself—his perfidy appears— It is too plain he has betray'd his country; And we're the wretched tools by him mark'd out To seal its ruins—tear up the ancient forms, And every vestige treacherously destroy, Nor leave a trait of freedom in the land. Nor did I think hard fate wou'd call me up From drudging o'er my acres, Treading the glade, and sweating at the plough, To dangle at the tables of the great; At bowls and cards to spend my frozen years; To sell my friends, my country, and my conscience; Profane the sacred sabbaths of my God; Scorn'd by the very men who want my aid To spread distress o'er this devoted people. Hazlerod. Pho—what misgivings—why these idle qualms, This shrinking backwards at the bugbear conscience; In early life I heard the phantom nam'd, And the grave sages prate of moral sense Presiding in the bosom of the just; Or planting thongs about the guilty heart. Bound by these shackles, long my lab'ring mind, Obscurely trod the lower walks of life, In hopes by honesty my bread to gain; But neither commerce, or my conjuring rods, Nor yet mechanics, or new fangled drills, Or all the iron-monger's curious arts, Gave me a competence of shining ore, Or gratify'd my itching palm for more; Till I dismiss'd the bold intruding guest, And banish'd conscience from my wounded breast. Crusty. Happy expedient!—Could I gain the art, Then balmy sleep might sooth my waking lids, And rest once more refresh my weary soul.

Bill arrives with a grin about something. Sure, he's got some jets for my machine and knows right were they are. I'll have to wait a second though. He's got to close a deal out in back on some Harley parts. I go with him out in a shed in back and see he is selling a whole Harley machine in used parts, except for the frame, which the customer already has. He is selling them all for $125. Not a bad price at all. Coming back I comment, "He'll know something about motorcycles before he gets those together." Bill laughs. "And that's the best way to learn, too.

The impossible class. — Poor, happy and independent! — these things can go together; poor, happy and a slave! — these things can also go together — and I can think of no better news I could give to our factory slaves: provided, that is, they do not feel it to be in general a disgrace to be thus used, and used up, as a part of a machine and as it were a stopgap to fill a hole in human inventiveness! To the devil with the belief that higher payment could lift from them the essence of their miserable condition I mean their impersonal enslavement! To the devil with the idea of being persuaded that an enhancement of this impersonality within the mechanical operation of a new society could transform the disgrace of slavery into a virtue! To the devil with setting a price on oneself in exchange for which one ceases to be a person and becomes a part of a machine! Are you accomplices in the current folly of the nations the folly of wanting above all to produce as much as possible and to become as rich as possible? What you ought to do, rather, is to hold up to them the counter-reckoning: how great a sum of inner value is thrown away in pursuit of this external goal! But where is your inner value if you no longer know what it is to breathe freely? if you no longer possess the slightest power over yourselves? if you all too often grow weary of yourselves like a drink that has been left too long standing? if you pay heed to the newspapers and look askance at your wealthy neighbour, made covetous by the rapid rise and fall of power, money and opinions? if you no longer believe in philosophy that wears rags, in the free-heartedness of him without needs? if voluntary poverty and freedom from profession and marriage, such as would very well suit the more spiritual among you, have become to you things to laugh at? If, on the other hand, you have always in your ears the flutings of the Socialist pied-pipers whose design is to enflame you with wild hopes? which bid you to be prepared and nothing further, prepared day upon day, so that you wait and wait for something to happen from outside and in all other respects go on living as you have always lived until this waiting turns to hunger and thirst and fever and madness, and at last the day of the bestia triumphans dawns in all its glory? In contrast to all this, everyone ought to say to himself: ‘better to go abroad, to seek to become master in new and savage regions of the world and above all master over myself; to keep moving from place to place for just as long as any sign of slavery seems to threaten me; to shun neither adventure nor war and, if the worst should come to the worst, to be prepared for death: all this rather than further to endure this indecent servitude, rather than to go on becoming soured and malicious and conspiratorial!

all of Jane’s heroines will marry for love and nothing else. Of course their suitors come with material advantages, and no one chooses foolishly, but what it really comes down to, for Catherine Morland, Elinor Dashwood, Lizzy Bennet, Fanny Price, Emma Woodhouse and Anne Elliot, is finding the right man. Or … so you think at first. Jane’s novels are celebrated for the new meanings you pick up each time you reread them. And when Jane approaches the moment when her heroines must marry, it is possible to argue that something a little strange happens to her storytelling. Yes, this is a highly contentious suggestion, but bear with me. If you look at the exact moments where love is brought to a climax, and matches are made, you may find them a little abrupt, almost perfunctory. We don’t hear Emma Woodhouse accepting Mr Knightley’s proposal, we don’t see Edmund falling in love with Fanny Price. And in the very final paragraph of Mansfield Park, the object of Fanny’s affections, like Charlotte Lucas’s, is defined as a house. It was Mansfield Parsonage that she now finds ‘as dear to her heart’ as anything.24 Perhaps Jane treated these events lightly, almost mechanically, because she didn’t really believe that a man, on his own, could bring a happy ending. So, if there is even a smidgeon of possibility that Jane herself might choose to marry a house,

Specialisation, accompanied by exchange, is the source of economic prosperity. Here, in my own words, is what a modern version of Smithism claims. First, the spontaneous and voluntary exchange of goods and services leads to a division of labour in which people specialise in what they are good at doing. Second, this in turn leads to gains from trade for each party to a transaction, because everybody is doing what he is most productive at and has the chance to learn, practise and even mechanise his chosen task. Individuals can thus use and improve their own tacit and local knowledge in a way that no expert or ruler could. Third, gains from trade encourage more specialisation, which encourages more trade, in a virtuous circle. The greater the specialisation among producers, the greater is the diversification of consumption: in moving away from self-sufficiency people get to produce fewer things, but to consume more. Fourth, specialisation inevitably incentivises innovation, which is also a collaborative process driven by the exchange and combination of ideas. Indeed, most innovation comes about through the recombination of existing ideas for how to make or organise things. The more people trade and the more they divide labour, the more they are working for each other. The more they work for each other, the higher their living standards. The consequence of the division of labour is an immense web of cooperation among strangers: it turns potential enemies into honorary friends. A woollen coat, worn by a day labourer, was (said Smith) ‘the produce of a great multitude of workmen. The shepherd, the sorter of the wool, the wool-comber or carder, the dyer, the scribbler, the spinner, the weaver, the fuller, the dresser . . .’ In parting with money to buy a coat, the labourer was not reducing his wealth. Gains from trade are mutual; if they were not, people would not voluntarily engage in trade. The more open and free the market, the less opportunity there is for exploitation and predation, because the easier it is for consumers to boycott the predators and for competitors to whittle away their excess profits. In its ideal form, therefore, the free market is a device for creating networks of collaboration among people to raise each other’s living standards, a device for coordinating production and a device for communicating information about needs through the price mechanism. Also a device for encouraging innovation. It is the very opposite of the rampant and selfish individualism that so many churchmen and others seem to think it is. The market is a system of mass cooperation. You compete with rival producers, sure, but you cooperate with your customers, your suppliers and your colleagues. Commerce both needs and breeds trust.

The argument that technology cannot create ongoing structural unemployment, rather than just temporary spells of joblessness during recessions, rests on two pillars: 1) economic theory and 2) two hundred years of historical evidence. But both of these are less solid than they first appear. First, the theory. There are three economic mechanisms that are candidates for explaining technological unemployment: inelastic demand, rapid change, and severe inequality. If technology leads to more efficient use of labor, then as the economists on the National Academy of Sciences panel pointed out, this does not automatically lead to reduced demand for labor. Lower costs may lead to lower prices for goods, and in turn, lower prices lead to greater demand for the goods, which can ultimately lead to an increase in demand for labor as well.

There is no natural safeguard in the English language against the faults of haste, distraction, timidity, dividedness of mind, modesty. English does not run on its own rails, like French, with a simply managed mechanism of knobs and levers, so that any army officer or provincial mayor can always, at a minute’s notice, glide into a graceful speech in celebration of any local or national event, however unexpected. The fact is that English has altogether too many resources for the ordinary person, and nobody holds it against him if he speaks or writes badly. The only English dictionary with any pretension to completeness as a collection of literary precedents, the Oxford English Dictionary, is of the size and price of an encyclopedia; and pocket-dictionaries do not distinguish sufficiently between shades of meaning in closely associated words: for example, between the adjectives ‘silvery’, ‘silvern’, ‘silver’, ‘silvered’, ‘argent’, ‘argentine’, ‘argentic’, ‘argentous’. Just as all practising lawyers have ready access to a complete legal library, so all professional writers (and every other writer who can afford it) should possess or have ready access to the big Oxford English Dictionary. But how many trouble about the real meanings of words? Most of them are content to rub along with a Thesaurus—which lumps words together in groups of so-called synonyms, without definitions—and an octavo dictionary. One would not expect a barrister to prepare a complicated insurance or testamentary case with only Everyman’s Handy Guide to the Law to help him; and there are very few books which one can write decently without consulting at every few pages a dictionary of at least two quarto volumes—Webster’s, or the shorter Oxford English Dictionary—to make sure of a word’s antecedents and meaning.

Conceive a world-society developed materially far beyond the wildest dreams of America. Unlimited power, derived partly from the artificial disintegration of atoms, partly from the actual annihilation of matter through the union of electrons and protons to form radiation, completely abolished the whole grotesque burden of drudgery which hitherto had seemed the inescapable price of civilization, nay of life itself. The vast economic routine of the world-community was carried on by the mere touching of appropriate buttons. Transport, mining, manufacture, and even agriculture were performed in this manner. And indeed in most cases the systematic co-ordination of these activities was itself the work of self-regulating machinery. Thus, not only was there no longer need for any human beings to spend their lives in unskilled monotonous labour, but further, much that earlier races would have regarded as highly skilled though stereotyped work, was now carried on by machinery. Only the pioneering of industry, the endless exhilarating research, invention, design and reorganization, which is incurred by an ever-changing society, still engaged the minds of men and women. And though this work was of course immense, it could not occupy the whole attention of a great world-community. Thus very much of the energy of the race was free to occupy itself with other no less difficult and exacting matters, or to seek recreation in its many admirable sports and arts. Materially every individual was a multi-millionaire, in that he had at his beck and call a great diversity of powerful mechanisms; but also he was a penniless friar, for he had no vestige of economic control over any other human being. He could fly through the upper air to the ends of the earth in an hour, or hang idle among the clouds all day long. His flying machine was no cumbersome aeroplane, but either a wingless aerial boat, or a mere suit of overalls in which he could disport himself with the freedom of a bird. Not only in the air, but in the sea also, he was free. He could stroll about the ocean bed, or gambol with the deep-sea fishes. And for habitation he could make his home, as he willed, either in a shack in the wilderness or in one of the great pylons which dwarfed the architecture even of the American age. He could possess this huge palace in loneliness and fill it with his possessions, to be automatically cared for without human service; or he could join with others and create a hive of social life. All these amenities he took for granted as the savage takes for granted the air which he breathes. And because they were as universally available as air, no one craved them in excess, and no one grudged another the use of them.

To be sure, there exists in principle a quite simple economic mechanism that should restore equilibrium to the process: the mechanism of supply and demand. If the supply of any good is insufficient, and its price is too high, then demand for that good should decrease, which should lead to a decline in its price. In other words, if real estate and oil prices rise, then people should move to the country or take to traveling about by bicycle (or both). Never mind that such adjustments might be unpleasant or complicated; they might also take decades, during which landlords and oil well owners might well accumulate claims on the rest of the population so extensive that they could easily come to own everything that can be owned, including rural real estate and bicycles, once and for all.3 As always, the worst is never certain to arrive. It is much too soon to warn readers that by 2050 they may be paying rent to the emir of Qatar.

My hypothesis is mimetic: because humans imitate one another more than animals, they have had to find a means of dealing with contagious similarity, which could lead to the pure and simple disappearance of their society. The mechanism that reintroduces difference into a situation in which everyone has come to resemble everyone else is sacrifice. Humanity results from sacrifice; we are thus the children of religion. What I call after Freud the founding murder, in other words, the immolation of a sacrificial victim that is both guilty of disorder and able to restore order, is constantly re-enacted in the rituals at the origin of our institutions. Since the dawn of humanity, millions of innocent victims have been killed in this way in order to enable their fellow humans to live together, or at least not to destroy one another. This is the implacable logic of the sacred, which myths dissimulate less and less as humans become increasingly self-aware. The decisive point in this evolution is Christian revelation, a kind of divine expiation in which God through his Son could be seen as asking for forgiveness from humans for having revealed the mechanisms of their violence so late. Rituals had slowly educated them; from then on, humans had to do without. Christianity demystifies religion. Demystification, which is good in the absolute, has proven bad in the relative, for we were not prepared to shoulder its consequences. We are not Christian enough. The paradox can be put a different way. Christianity is the only religion that has foreseen its own failure. This prescience is known as the apocalypse. Indeed, it is in the apocalyptic texts that the word of God is most forceful, repudiating mistakes that are entirely the fault of humans, who are less and less inclined to acknowledge the mechanisms of their violence. The longer we persist in our error, the stronger God’s voice will emerge from the devastation. […] The Passion unveiled the sacrificial origin of humanity once and for all. It dismantled the sacred and revealed its violence. […] By accepting crucifixion, Christ brought to light what had been ‘hidden since the foundation of the world,’ in other words, the foundation itself, the unanimous murder that appeared in broad daylight for the first time on the cross. In order to function, archaic religions need to hide their founding murder, which was being repeated continually in ritual sacrifices, thereby protecting human societies from their own violence. By revealing the founding murder, Christianity destroyed the ignorance and superstition that are indispensable to such religions. It thus made possible an advance in knowledge that was until then unimaginable. […] A scapegoat remains effective as long as we believe in its guilt. Having a scapegoat means not knowing that we have one. Learning that we have a scapegoat is to lose it forever and to expose ourselves to mimetic conflicts with no possible resolution. This is the implacable law of the escalation to extremes. The protective system of scapegoats is finally destroyed by the Crucifixion narratives as they reveal Jesus’ innocence, and, little by little, that of all analogous victims. The process of education away from violent sacrifice is thus underway, but it is going very slowly, making advances that are almost always unconscious. […] Mimetic theory does not seek to demonstrate that myth is null, but to shed light on the fundamental discontinuity and continuity between the passion and archaic religion. Christ’s divinity which precedes the Crucifixion introduces a radical rupture with the archaic, but Christ’s resurrection is in complete continuity with all forms of religion that preceded it. The way out of archaic religion comes at this price. A good theory about humanity must be based on a good theory about God. […] We can all participate in the divinity of Christ so long as we renounce our own violence.

Internally, I was fractured, a series of faked personalities and protective shields that kept people at a distance. I could only drop the shield when I was alone, but even in my solitude I was miserable and confused. I was all defense mechanisms, with nothing left inside worth defending. When a masked Autistic person lacks self-knowledge or any kind of broad social acceptance, they are often forced to conceive of themselves as compartmentalized, inconsistent parts. Here is the person I have to be at work, and the person I must be at home. These are the things I fantasize about doing but can’t tell anybody about. Here are the drugs that keep my energy levels up, and the lies I tell to be entertaining at parties. These are the tension-defusing distractions I’ll deploy when someone begins to suspect there’s something off about me. We don’t get the chance to come together into a unified whole that we can name or understand, or that others can see and love. Some sides of us go unacknowledged entirely, because they don’t serve our broader goal of remaining as inoffensive and safe as possible.

July I watch eagerly a certain country graveyard that I pass in driving to and from my farm. It is time for a prairie birthday, and in one corner of this graveyard lives a surviving celebrant of that once important event. It is an ordinary graveyard, bordered by the usual spruces, and studded with the usual pink granite or white marble headstones, each with the usual Sunday bouquet of red or pink geraniums. It is extraordinary only in being triangular instead of square, and in harboring, within the sharp angle of its fence, a pin-point remnant of the native prairie on which the graveyard was established in the 1840’s. Heretofore unreachable by scythe or mower, this yard-square relic of original Wisconsin gives birth, each July, to a man-high stalk of compass plant or cutleaf Silphium, spangled with saucer-sized yellow blooms resembling sunflowers. It is the sole remnant of this plant along this highway, and perhaps the sole remnant in the western half of our county. What a thousand acres of Silphiums looked like when they tickled the bellies of the buffalo is a question never again to be answered, and perhaps not even asked. This year I found the Silphium in first bloom on 24 July, a week later than usual; during the last six years the average date was 15 July. When I passed the graveyard again on 3 August, the fence had been removed by a road crew, and the Silphium cut. It is easy now to predict the future; for a few years my Silphium will try in vain to rise above the mowing machine, and then it will die. With it will die the prairie epoch. The Highway Department says that 100,000 cars pass yearly over this route during the three summer months when the Silphium is in bloom. In them must ride at least 100,000 people who have ‘taken’ what is called history, and perhaps 25,000 who have ‘taken’ what is called botany. Yet I doubt whether a dozen have seen the Silphium, and of these hardly one will notice its demise. If I were to tell a preacher of the adjoining church that the road crew has been burning history books in his cemetery, under the guise of mowing weeds, he would be amazed and uncomprehending. How could a weed be a book? This is one little episode in the funeral of the native flora, which in turn is one episode in the funeral of the floras of the world. Mechanized man, oblivious of floras, is proud of his progress in cleaning up the landscape on which, willy-nilly, he must live out his days. It might be wise to prohibit at once all teaching of real botany and real history, lest some future citizen suffer qualms about the floristic price of his good life. * * *

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.

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.

Lady Mechanic, there is one other thing I yet need to know. You have done a great deed here, and done is a great service. Now I would know what that deed will cost us." "Cost you?" Mari lowered her head, sighing loud enough for Alain to hear. "Of course, because I am a Mechanic, and Mechanics never do a deed for free, instead charging the maximum that they can get." "You said this, Lady, not me." "Then here is my price, General." Mari looked up again, meeting his eyes. "You and your soldiers are to forget they ever saw me, no matter who asks." Flyn regarded her for a moment. "No matter who? Including members of your own Guild, Lady?" "Especially including members of my own Guild." Another long pause, then Flyn nodded. " that part of the price we can pay. And?" "Oh, you want to pay more?" Mari asked. "My horse. The poor beast has been ridden hard for a few days and needs proper treatment. I'm neither experienced nor good at handling horses, so if someone else would take care of her now it would be to the horse's benefit and mine." Flyn nodded again. "And?" Mari gestured. "And a private campsite, fire and food for myself and the Mage." "The Mage has already earned that for himself, Lady. We can do that for you as well, but I must tell you that after our reversal and retreat our provisions are neither extensive nor of great quality." Alain saw Mari run her eyes across the beat-up soldiers. Alain wondered if the commons could see the sympathy in those eyes. "As long as I get the equivalent of what your soldiers receive I'll be content, General." "Lady? Perhaps I was not clear as to how limited our means are at the moment—" "I will not eat better than men and women who have been through what these soldiers obviously have recently," Mari snapped. "I will have the same as them, General, nothing more." Flyn regarded Mari once more with outright astonishment. "Very well. And?" Mari narrowed her eyes at Flyn. "And, General, you will immediately cease to as me 'and?'. If you say that word one more time. My price will go up dramatically." The General gazed at her, then nodded. "Very well, Lady Mechanic. I accept your price, ridiculously small though it is. I do have one other question." "Which is?" Mari asked. "Am I allowed to use that prohibited word in other contexts?" Mari kept her hard look for a moment longer, then grinned at him. "Certainly, General. Use the word 'and' in as many other contexts as you desire. It appears to be your favorite word and I'd hate to deny you the use of it.

If one looks at modern society, it is obvious that in order to live, the great majority of people are forced to sell their labour power. All the physical and intellectual capacities existing in human beings, in their personalities, which must be set in motion to produce useful things, can only be used if they are sold in exchange for wages. Labour power is usually perceived as a commodity bought and sold nearly like all others. The existence of exchange and wage-labour seems normal, inevitable. Yet the introduction of wage-labour involved conflict, resistance, and bloodshed. The separation of the worker from the means of production, now an accepted fact of life, took a long time and was accomplished by force. In England, in the Netherlands, in France, from the sixteenth century on, economic and political violence expropriated craftsmen and peasants, repressed indigence and vagrancy, imposed wage-labour on the poor. Between 1930 and 1950, Russia decreed a labour code which included capital punishment in order to organise the transition of millions of peasants to industrial wage-labour in less than a few decades. Seemingly normal facts: that an individual has nothing but his labour power, that he must sell it to a business unit to be able to live, that everything is a commodity, that social relations revolve around market exchange… such facts now taken for granted result from a long, brutal process. By means of its school system and its ideological and political life, contemporary society hides the past and present violence on which this situation rests. It conceals both its origin and the mechanism which enables it to function. Everything appears as a free contract in which the individual, as a seller of labour power, encounters the factory, the shop or the office. The existence of the commodity seems to be an obvious and natural phenomenon, and the periodic major and minor disasters it causes are often regarded as quasi-natural calamities. Goods are destroyed to maintain their prices, existing capacities are left to rot, while elementary needs remain unfulfilled. Yet the main thing that the system hides is not the existence of exploitation or class (that is not too hard to see), nor its horrors (modern society is quite good at turning them into media show). It is not even that the wage labour/capital relationship causes unrest and rebellion (that also is fairly plain to see). The main thing it conceals is that insubordination and revolt could be large and deep enough to do away with this relationship and make another world possible.

The impossible class. Poor, happy and independent! — these things can go together; poor, happy and a slave! — these things can also go together — and I can think of no better news I could give to our factory slaves: provided, that is, they do not feel it to be in general a disgrace to be thus used, and used up, as a part of a machine and as it were a stopgap to fill a hole in human inventiveness! To the devil with the belief that higher payment could lift from them the essence of their miserable condition I mean their impersonal enslavement! To the devil with the idea of being persuaded that an enhancement of this impersonality within the mechanical operation of a new society could transform the disgrace of slavery into a virtue! To the devil with setting a price on oneself in exchange for which one ceases to be a person and becomes a part of a machine! Are you accomplices in the current folly of the nations the folly of wanting above all to produce as much as possible and to become as rich as possible? What you ought to do, rather, is to hold up to them the counter-reckoning: how great a sum of inner value is thrown away in pursuit of this external goal! But where is your inner value if you no longer know what it is to breathe freely? if you no longer possess the slightest power over yourselves? if you all too often grow weary of yourselves like a drink that has been left too long standing? if you pay heed to the newspapers and look askance at your wealthy neighbour, made covetous by the rapid rise and fall of power, money and opinions? if you no longer believe in philosophy that wears rags, in the free-heartedness of him without needs? if voluntary poverty and freedom from profession and marriage, such as would very well suit the more spiritual among you, have become to you things to laugh at? If, on the other hand, you have always in your ears the flutings of the Socialist pied-pipers whose design is to enflame you with wild hopes? which bid you to be prepared and nothing further, prepared day upon day, so that you wait and wait for something to happen from outside and in all other respects go on living as you have always lived until this waiting turns to hunger and thirst and fever and madness, and at last the day of the bestia triumphans dawns in all its glory? In contrast to all this, everyone ought to say to himself: ‘better to go abroad, to seek to become master in new and savage regions of the world and above all master over myself; to keep moving from place to place for just as long as any sign of slavery seems to threaten me; to shun neither adventure nor war and, if the worst should come to the worst, to be prepared for death: all this rather than further to endure this indecent servitude, rather than to go on becoming soured and malicious and conspiratorial!

1—the existence of politically and legally free men; 2—the fact that free men (workers and employees) sell their labor to the owner of capital on the labor market, by contract; 3—the existence of the commodity market as a mechanism by which prices are determined and the exchange of the social product is regulated; 4—the principle that each individual acts with the aim of seeking a profit for himself, and yet that, by the competitive action of many, the greatest advantage is supposed to accrue for all.

The fallacy is that what one may need to know in the real world does not necessarily match what one can perceive through intellect: it doesn’t mean that details are not relevant, only that those we tend (IYI-style) to believe are important can distract us from more central attributes of the price mechanism.

Please accept the fact that “There is NO Free Lunch” i.e. everything has a price and nothing is available for free. If it is free, it cannot be sustained or it may have a hidden mechanism that you do not know anything about.

An example of these changes was the addition of three extra factors to the classic “4 Ps” of the mar-keting mix of product, price, promotion and place: participants (the human actors involved in the service encounter), processes (procedures, mechanisms and flows of activities) and physical evidence (the physical surroundings and tangible clues) (Booms and Bitner, 1981).

He who wishes to attain the profoundly marvelous must free images from their conventional associations, associations always dominated by utilitarian judgement; must learn to see the man behind the social function, break the scale of so-called normal values, replacing it by that of sensitive values, surmount taboos, the weight of ancestral prohibitions, cease to connect the object with profit one can get out of it, with the price it has in society, with the action it commands. This liberation begins when by some means the voluntary censorship of the bad conscience is lifted, when the mechanism of the dream is no longer impeded. Magic ceremonies, psychic exercises leading to concentration and ecstasy, the liberation of mental automatism, are so many means capable of refining vision through the tensions they induce. It is a means to enlarge normal facilities; they are a way of approach to the realm of the marvelous.

How can we share the gifts of nature? By sharing the monetary value that human beings assign to nature. The fundamental thing we need to abolish is the mechanism by which people unfairly profit from land. The solution is simple: Property owners merely need to pay the communities from which they receive benefits through their exclusive use of land the exact market value of the benefits they receive. When land users pay significant proportions of the rental value of land to their local communities, they rightfully reimburse their communities. These can be called Community Land Contributions. Unlike, land value taxes, CLCs relate to the rental value (which subsumes all natural and social benefits) not land price. Also, a tax implies land users are being taxed on their land values while CLCs emphasize that land is a community good.

In order for our land contribution model to be complete, we have to consider two more aspects of affordable housing. First, we have to minimise the inequality between tenants and landowners, and second, we have to provide the homeless with guaranteed access to land. Because higher rents are a byproduct of increasing community affluence, tenants get priced out (gentrification). The option of rent control results in a shortage of housing and lower quality housing. What's required is a new mechanism by which higher rents are equally shared with all residents - a Universal Basic Income, financed entirely by community land contributions. The homeless should receive free public housing with the cost deducted from their Universal Basic Income.

Provisions that set forth what the contract is about, referred to herein as the "operative provisions." For example, the operative provisions of a contract to sell the assets of a business would include a description of the assets, the calculation and method of payment of the purchase price, and the mechanics of transferring the assets. An asset sale contract containing only these operative provisions would be a very short document, legally enforceable, but not addressing many of the other important issues that buyers and sellers care about. What

look no further than Peter A. Lawrence’s developmental biology text The Making of a Fly, which in April 2011 was selling for $23,698,655.93 (plus $3.99 shipping) on Amazon’s third-party marketplace. How and why had this—admittedly respected—book reached a sale price of more than $23 million? It turns out that two of the sellers were setting their prices algorithmically as constant fractions of each other: one was always setting it to 0.99830 times the competitor’s price, while the competitor was automatically setting their own price to 1.27059 times the other’s. Neither seller apparently thought to set any limit on the resulting numbers, and eventually the process spiraled totally out of control. It’s possible that a similar mechanism was in play during the enigmatic and controversial stock market “flash crash” of May 6, 2010, when, in a matter of minutes, the price of several seemingly random companies in the S&P 500 rose to more than $100,000 a share, while others dropped precipitously—sometimes to $0.01 a share. Almost $1 trillion of value instantaneously went up in smoke.

In wrestling with this dilemma, many countries are loosening government controls and injecting market mechanisms, particularly cost sharing by patients, market pricing of goods and services, and increased competition among insurers and providers. As Pat Cox, former president of the European Parliament, put it in a report to the European Commission, “We should start to explore the power of the market as a way of achieving much better value for money.”339

Browse our collection of tailgate struts for various car brands available at highly competitive prices with the best quality.

Metaphors are often very useful in elucidating complicated problems and in making them comprehensible to less intelligent minds. But they become misleading and result in nonsense if people forget that every comparison is imperfect. It is silly to take metaphorical idioms literally and to deduce from their interpretation features of the object one wished to make more easily understandable by their use. There is no harm in the economists' description of the operation of the market as automatic and in their custom of speaking of the anonymous forces operating on the market. They could not anticipate that anybody would be so stupid as to take these metaphors literally. No "automatic" and "anonymous" forces actuate the "mechanism" of the market. The only factors directing the market and determining prices are purposive acts of men. There is no automatism; there are men consciously aiming at ends chosen and deliberately resorting to definite means for the attainment of these ends. There are no mysterious mechanical forces; there is only the will of every individual to satisfy his demand for various goods. There is no anonymity; there are you and I and Bill and Joe and all the rest. And each of us is engaged both in production and consumption. Each contributes his share to the determination of prices.

With a market capitalization of $5 billion as of writing, the most popular crypto-collateralized stablecoin is DAI, created by MakerDAO9 and and backed by ETH and other crypto assets. It is soft pegged with economic mechanisms that incentivize supply and demand to drive the price to $1.

Life doesn’t have to provide you any options at all. It can easily define your course from the outset and keep you in check through all manner of rough and subtle mechanics. To have even one year when you’re presented with choices that can alter your circumstances, your character, your course—that’s by the grace of God alone. And it shouldn’t come without a price. I love Val.

We could usually tell if it was an Aboriginal car coming, because they invariably sounded like sick washing-machines. The process of selling broken-down second-hand cars to Aborigines at exorbitant prices in Alice Springs is a lucrative business. Luckily Aboriginal people are great bush-mechanics and can usually keep them going on bits of string and wire. There was one story at Docker River, of a group of young men who bought a car in Alice, four hundred miles away, and half way home the body of the car literally fell to pieces. They simply got out (all ten of them), took off their belts, tied it all together and drove happily home.

A company can sustain a premium price only if it offers something that is both unique and valuable to its customers. Apple’s hot, must-have gadgets have commanded premium prices. Ditto for the high-speed Madrid-to-Barcelona train and the trucks Paccar creates for owner-operators. Create more buyer value and you raise what economists call willingness to pay (WTP), the mechanism that makes it possible for a company to charge a higher price relative to rival offerings.

What the masses in America read was newspapers and low-priced magazines; also, they listened to the radio and went to the movies. If you wanted mass circulation, those were the ways to get it. They were all enormously expensive and conducted for the profit of private owners; a genuine liberal among the owners was as rare as a white blackbird, and that was why opinion in America lagged so far behind mechanical development—including the aforesaid A-bomb.

Reconstructing family life amid the chaos of the cotton revolution was no easy matter. Under the best of circumstances, the slave family on the frontier was extraordinarily unstable because the frontier plantation was extraordinarily unstable. For every aspiring master who climbed into the planter class, dozens failed because of undercapitalization, unproductive land, insect infestation, bad weather, or sheer incompetence. Others, discouraged by low prices and disdainful of the primitive conditions, simply gave up and returned home. Those who succeeded often did so only after they had failed numerous times. Each failure or near-failure caused slaves to be sold, shattering families and scattering husbands and wives, parents and children. Success, moreover, was no guarantee of security for slaves. Disease and violence struck down some of the most successful planters. Not even longevity assured stability, as many successful planters looked west for still greater challenges. Whatever the source, the chronic volatility of the plantation took its toll on the domestic life of slaves. Despite these difficulties, the family became the center of slave life in the interior, as it was on the seaboard. From the slaves' perspective, the most important role they played was not that of field hand or mechanic but husband or wife, son or daughter - the precise opposite of their owners' calculation. As in Virginia and the Carolinas, the family became the locus of socialization, education, governance, and vocational training. Slave families guided courting patterns, marriage rituals, child-rearing practices, and the division of domestic labor in Alabama, Mississippi, and beyond. Sally Anne Chambers, who grew up in Louisiana, recalled how slaves turned to the business of family on Saturdays and Sundays. 'De women do dey own washing den. De menfolks tend to de gardens round dey own house. Dey raise some cotton and sell it to massa and git li'l money dat way.' As Sally Anne Chambers's memories reveal, the reconstructed slave family was more than a source of affection. It was a demanding institution that defined responsibilities and enforced obligations, even as it provided a source of succor. Parents taught their children that a careless word in the presence of the master or mistress could spell disaster. Children and the elderly, not yet or no longer laboring in the masters' fields, often worked in the slaves' gardens and grounds, as did new arrivals who might be placed in the household of an established family. Charles Ball, sold south from Maryland, was accepted into his new family but only when he agreed to contribute all of his overwork 'earnings into the family stock.' The 'family stock' reveals how the slaves' economy undergirded the slave family in the southern interior, just as it had on the seaboard. As slaves gained access to gardens and grounds, overwork, or the sale of handicraft, they began trading independently and accumulating property. The material linkages of sellers and buyers - the bartering of goods and labor among themselves - began to knit slaves together into working groups that were often based on familial connections. Before long, systems of ownership and inheritance emerged, joining men and women together on a foundation of need as well as affection.

Bitcoin’s high volatility is often used as an example of why it cannot be trusted as a global payment mechanism. Bitcoin is volatile; it lost 30 percent of its value in 2018, only to rise over 100 percent in the first six months of 2019. But that volatility must be put in context. The inflation rate on the bolívar, Venezuela’s local currency, was 1.8 million percent in 2018. Having the choice, even in 2018, I would much rather lose 30 per-cent on my Bitcoin than 1.8 million percent on my bolívar.

The leveling effects of fairness concerns were significantly mediated by regime type. In World War I, the democracies of the United Kingdom, the United States, and Canada were prepared to “soak the rich,” whereas more autocratic systems such as Germany, Austria-Hungary, and Russia preferred to borrow or print money to sustain their war effort. The latter, however, later paid a high price through hyperinflation and revolution, shocks that likewise compressed inequality. Especially during World War I, before a common template for funding mass mobilization warfare had been established, the mechanisms of leveling therefore varied considerably between countries.

JL Collins brilliantly described this as a “self-cleansing” mechanism, and that’s exactly what it is. Owning the index means you only own the biggest, healthiest companies and makes sure you get rid of shares of bad companies before they hit zero. (Note that the only major American index not to use this methodology is the Dow Jones Industrial Average, which is price weighted rather than market-cap weighted.)

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The Russian and pro-Russian militants fighting in the Donbas are therefore giving the Ukrainian Army a crash course in real warfare, although the price of error is of course extremely high. For all intents and purposes, these militants are light mechanized infantry. They are armed with conventional and rocket artillery, heavy armor (including tanks), and air defense systems. They wage combined-arms warfare; they launch intelligent offensives and they have a well-organized defense. In other words, they are a real army.

Cartridgeration has its consequences. Prolonged exposure to this fragmentary method of relating to the world inculcates in the gamer the belief that he can have it all, serially, within a very short time span, regardless of whether any two pieces of It are mutually exclusionary. He can be chasing em down… and on the run. Safe… and under fire. Cute and harmless… and imposing and dangerous. As he toggles from cartridge to cartridge, game to game, goal to goal, identity to identity, his mother’s long-standing promise that he can “be whatever he wants to be in this world” seems fulfilled, given a broad enough interpretation of “in this world.” This is not entirely a bad thing. The ability to simultaneously entertain contradictories can be useful… but it comes at a price. The Cartridgeration process leads one to a mode of thinking that stresses the inadvisability of choices. Any definite choice and subsequent course of action puts the gamer on one path at a tremendous possibility cost to all conceivable others. Through definitive actions, he pares the ür-configuration containing all his possible worlds to a stunted fraction of its former self. How many brilliant futures are ruled out with each step, with each decisive word? Billions, in a very real sense. The further he gets himself into any situation, the more severe the pruning of his possibility tree. Thus his inability to focus on any enthusiasm for too long, a metaphysical fickleness that functions as a defense mechanism against the death of possibility.

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It is impossible indeed not to look with considerable uneasiness at the type of the "modern economist" as he developed after Keynes' revolutionary book, whom Keynes himself regarded with alarm at the end of his days. It is the type of man who is obsessed by one thing, i.e. "effective demand," which he thinks must be kept up at whatever cost, while he forgets the working of the mechanism of prices, wages, interest and exchange rates.

As demand for cotton grew, slavery was considered indispensable as a means of maximizing profit for this labor-intensive staple crop. Equally important, as we shall see, slaves could be financed—that is, purchased on credit. In financial parlance this is called leverage. Planters had one objective: increased cotton production. Arguments about the optimum size of a cotton farm are irrelevant because of slavery’s financing characteristic. Simply put, the goal was more cotton, which called for financing the purchase of more land and more slaves. Because a mechanical means of solving cotton’s production needs did not exist until the mid-twentieth century, cotton demanded an endless supply of black bodies as long as the price of cotton permitted financing. The Northerner Frederick Law Olmsted,

As demand for cotton grew, slavery was considered indispensable as a means of maximizing profit for this labor-intensive staple crop. Equally important, as we shall see, slaves could be financed—that is, purchased on credit. In financial parlance this is called leverage. Planters had one objective: increased cotton production. Arguments about the optimum size of a cotton farm are irrelevant because of slavery’s financing characteristic. Simply put, the goal was more cotton, which called for financing the purchase of more land and more slaves. Because a mechanical means of solving cotton’s production needs did not exist until the mid-twentieth century, cotton demanded an endless supply of black bodies as long as the price of cotton permitted financing. The Northerner Frederick Law Olmsted, author of The Cotton Kingdom (1861), attributed slavery’s growth to cotton production that had

Perhaps the most striking of all the on-demand services is Amazon’s Mechanical Turk, which allows customers to post any “human intelligence task”, from flagging objectionable content on websites to composing text messages; workers on the site choose what to do according to task and price.

Curbing the financial sector. Since so much of the increase in inequality is associated with the excesses of the financial sector, it is a natural place to begin a reform program. Dodd-Frank is a start, but only a start. Here are six further reforms that are urgent: (a) Curb excessive risk taking and the too-big-to-fail and too-interconnected-to-fail financial institutions; they’re a lethal combination that has led to the repeated bailouts that have marked the last thirty years. Restrictions on leverage and liquidity are key, for the banks somehow believe that they can create resources out of thin air by the magic of leverage. It can’t be done. What they create is risk and volatility.2 (b) Make banks more transparent, especially in their treatment of over-the-counter derivatives, which should be much more tightly restricted and should not be underwritten by government-insured financial institutions. Taxpayers should not be backing up these risky products, no matter whether we think of them as insurance, gambling instruments, or, as Warren Buffett put it, financial weapons of mass destruction.3 (c) Make the banks and credit card companies more competitive and ensure that they act competitively. We have the technology to create an efficient electronics payment mechanism for the twenty-first century, but we have a banking system that is determined to maintain a credit and debit card system that not only exploits consumers but imposes large fees on merchants for every transaction. (d) Make it more difficult for banks to engage in predatory lending and abusive credit card practices, including by putting stricter limits on usury (excessively high interest rates). (e) Curb the bonuses that encourage excessive risk taking and shortsighted behavior. (f) Close down the offshore banking centers (and their onshore counterparts) that have been so successful both at circumventing regulations and at promoting tax evasion and avoidance. There is no good reason that so much finance goes on in the Cayman Islands; there is nothing about it or its climate that makes it so conducive to banking. It exists for one reason only: circumvention. Many

In the postwar period, democratic politics was transformed not only by the switch to oil, but by the development of two new methods of governing democracies, both made possible by the growing use of energy from oil. One of these was an arrangement for managing the value of money and limiting the power of financial speculation, which was said to have destroyed interwar democracy – a system built with the pipelines, oil agreements and oligarchies that organised the supply and pricing of oil. It was accompanied by the construction of the Cold War, which provided a framework for the policing of the postwar Middle East that replaced the need for mandates, trusteeships, development programmes and other scaffoldings for imperial power. The other new mode of governing democracies was the manufacture of ‘the economy’ – an object whose experts began to displace democratic debate and whose mechanisms set limits to egalitarian demands.

The mind is a focusing and decision-making mechanism. We can focus on our spirit and decide to honour the voice of Truth, thus becoming free in the hands of God. Or we can focus on the world and decide to take the path of least resistance, thus becoming puppets in the hands of others. There is no other choice. Both come with a price, but the first brings life and the other brings death.

Woolens were fundamentally different from cottons – advances in cotton processing made cotton goods accessible to everyone, creating a new market whereas advances in wool processing slightly reduced the price of an already established product. This highlights the importance of demand in industrial growth. Cotton and woolens each experienced radical innovation in processing technology; each was transformed from a cottage industry to a mechanized, capital-intensive, factory production system. However, cotton grew rapidly while wool grew slowly. In fact, wool grew less rapidly than the economy despite this transformation of production. The reason for the difference lies in the nature of demand for the product. Wool was already a mature product, even though its production processes were about to be transformed. The production improvements simply made woolens a bit cheaper but the market was already saturated and so grew only slowly. Cottons, in contrast, were a new product in new markets. The production advances in cotton reduced costs and prices sufficiently to make cottons accessible to everyone. This was equivalent to creating new and potentially huge markets. Cottons then followed the classic S-shaped (logistic) market adoption pattern - slow adoption initially then rapid adoption and rapid growth before the market finally reached maturity (became saturated) with sales, and so production, levelling off.

The family farm is failing because the pattern it belongs to is failing, and the principal reason for this failure is the universal adoption, by our people and our leaders alike, of industrial values, which are based on three assumptions: 1. That value equals price—that the value of a farm, for example, is whatever it would bring on sale, because both a place and its price are “assets.” There is no essential difference between farming and selling a farm. 2. That all relations are mechanical. That a farm, for example, can be used like a factory, because there is no essential difference between a farm and a factory. 3. That the sufficient and definitive human motive is competitiveness—that a community, for example, can be treated like a resource or a market, because there is no difference between a community and a resource or a market. The industrial mind is a mind without compunction; it simply accepts that people, ultimately, will be treated as things and that things, ultimately, will be treated as garbage. Such

At Oaktree we say, “Well bought is half sold.” By this we mean we don’t spend a lot of time thinking about what price we’re going to be able to sell a holding for, or when, or to whom, or through what mechanism. If you’ve bought it cheap, eventually those questions will answer themselves. If your estimate of intrinsic value is correct, over time an asset’s price should converge with its value.

the drawing up of false accounts by capitalist enterprises coupled with the corruption of state officials makes it possible for monopolists to conceal the real amount of their profits and to evade payment of a considerable part of taxes. That which they must pay, they recover from the mass of people by various means (for instance, by increasing prices, rents, etc.). Finally the mechanism of taxation is used also for the extraction of a considerable part of the profits of the small and medium capitalists

That was no easy task, but Clark, along with his fellow senior commanders in the Mediterranean, understood that victory could not be achieved without young men under their command getting killed. To keep the casualties down meant using bombers and immense firepower, mechanization and modernity to do a lot of the hard yards. And if that involved destroying cities, towns and villages which barred the Allies’ path, then it was the price that had to be paid. Better a building than young Allied lives. Better Italian civilians than young Allied lives. After all, the Allies never asked the Italians to enter the war. Yet there was the paradox, for if the Allies

That was no easy task, but Clark, along with his fellow senior commanders in the Mediterranean, understood that victory could not be achieved without young men under their command getting killed. To keep the casualties down meant using bombers and immense firepower, mechanization and modernity to do a lot of the hard yards. And if that involved destroying cities, towns and villages which barred the Allies’ path, then it was the price that had to be paid. Better a building than young Allied lives. Better Italian civilians than young Allied lives. After all, the Allies never asked the Italians to enter the war. Yet there was the paradox, for if the Allies were liberators, was it right that they should be killing the people they were supposed to be liberating?

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To understand socialism in this way, we must accept that the divide between capitalism and socialism is not defined by technical questions like the operation of the price mechanism, the extent of planning of markets, or even the balance between the public and private sector. These factors are all important in shaping the way socialist and capitalist societies function, but the difference between the two is far simpler. A capitalist society is a class-divided society in which power is monopolized by capitalists and their allies. A socialist society is a classless society in which power is shared and decisions are made collectively. A socialist society is, then, a true democracy.

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In effect government control of an economy replaces a mechanism that makes use of the knowledge of millions or billions of people, depending on the extent of the market, with control by a relatively small group of politicians and bureaucrats whose knowledge is severely limited. With nothing effective to replace the price system with, socialist countries – as evidenced by the collapse of the Soviet Union and the despair that exists in countries such as North Korea – can never be as prosperous as countries which have freer markets. Ironically, while many who support socialism are also champions of economic equality, history has shown that when countries try to stamp out the spontaneous wealth generating process associated with free markets they create the worst type of inequality possible; a society where the masses starve while the central planners live like royalty.

That critique is a feat of misdirection that would use a pricing mechanism to institutionalize and therefore legitimate the extraction of human behavior for manufacturing and sale. It ignores the key point that the essence of the exploitation here is the rendering of our lives as behavioral data for the sake of others’ improved control of us. The remarkable questions here concern the facts that our lives are rendered as behavioral data in the first place; that ignorance is a condition of this ubiquitous rendition; that decision rights vanish before one even knows that there is a decision to make; that there are consequences to this diminishment of rights that we can neither see nor foretell; that there is no exit, no voice, and no loyalty, only helplessness, resignation, and psychic numbing; and that encryption is the only positive action left to discuss when we sit around the dinner table and casually ponder how to hide from the forces that hide from us.

The first hints of this emerged in the early and mid-1990s, at the tail end of the crack epidemic. Suniya Luthar is now sixty-two, with an infectious smile, bright brown eyes, and short snow-white hair. Back then, she was a fledgling psychologist working as an assistant professor and researcher in the department of psychiatry at the Yale School of Medicine. She was studying resiliency among teenagers in low-income urban communities, and one of her early findings was that the most popular kids were also among the most destructive and aggressive at school. Was this a demographic phenomenon, she wondered, or merely an adolescent one, this tendency to look up to peers who acted out? To find out, she needed a comparison group. A research assistant suggested they recruit students from his former high school in an affluent suburb. Luthar’s team ultimately enlisted 488 tenth graders—about half from her assistant’s high school and half from a scruffy urban high school. The affluent community’s median household income was 80 percent higher than the national median, and more than twice that of the low-income community. The rich community also had far fewer families on food stamps (0.3 percent vs. 19 percent) and fewer kids getting free or reduced-price school lunches (1 percent vs. 86 percent). The suburban teens were 82 percent white, while the urban teens were 87 percent nonwhite. Luthar surveyed the kids, asking a series of questions related to depression and anxiety, drug use ranging from alcohol and nicotine to LSD and cocaine, and participation in delinquent acts at home, at school, and in the community. Also examined were grades, “social competence,” and teachers’ assessments of each student. After crunching the numbers, she was floored. The affluent teens fared poorly relative to the low-income teens on “all indicators of substance use, including hard drugs.” This flipped the conventional wisdom on its head. “I was quite taken aback,” Luthar recalls.

Money changes everything. In Billionaires, a book by political scientist Darrell West, one member of the three-comma club brought up his “get-a-senator” strategy—a handy tactic, given that a lone senator can block objectionable legislation or pull strings on a favored donor’s behalf. West recalls how Senator Rand Paul held up Senate action for years on a treaty that would have forced Swiss banks to reveal the names of twenty-two thousand wealthy Americans who had assets stashed in overseas accounts, presumably to evade taxes. (An invasion of privacy, Paul insisted.) In another case, a billionaire hedge fund manager persuaded Democratic senator Edward Markey to write a letter to the SEC calling for an investigation of Herbalife, a multilevel marketing company the financier suspected of fraud, and whose stock he also happened to be short-selling. The effort paid off. After Markey’s letter was made public, Herbalife’s share price plummeted 14 percent.

Jason Kurland, forty-seven, represented them all. In fall 2011, Kurland, then an attorney at the Long Island branch of the firm Rivkin Radler specializing in commercial real estate law, received a phone call that would determine his future. The caller, seeking legal advice, had gotten Kurland’s name from another client. Payment would not be an issue because he and two coworkers had just won a $254 million Powerball jackpot. After taxes on their lump-sum payout, they would have $104 million to share. We stereotype lottery winners as financially unsophisticated. Not these guys. They were a founding partner, senior portfolio manager, and chief investment officer for Belpointe Asset Management, a financial firm in Greenwich, Connecticut, where mansions sprout from spacious lots and single-family homes list for quintuple the national median price. Kurland was no lottery expert, but he quickly made it his business to become one. He researched how different states tax lottery winnings, whether and how big jackpot winners need to be identified (at least eight states let them remain anonymous), and the legal tricks one might use, depending on location, to claim a monster windfall. Claiming in the name of a trust or a limited liability corporation, for instance, won’t reduce the initial tax hit, but it may limit a winner’s public exposure. Some states let you claim using a legal entity and others don’t. Some require press conferences. Some allow an attorney to claim the prize as a trustee. “In that case, the attorney signs the back of the ticket—and you have to make sure you trust that attorney,” Kurland said. (We will come to see the irony in that advice.)

At that price point, open houses evaporate and the MLS listings often go away, too. Wealthy sellers don’t want commoners sniffing around their properties, and well-heeled buyers demand a realtor’s full attention. Showings are by appointment only, “otherwise it’s a petting zoo,” says Frank Nolan, co-owner of San Francisco’s Vanguard Properties, who does $150 million to $170 million in annual sales. Would-be buyers are often asked to show their money in advance, “because a lot of people would love to see a house like that just to see a house like that.

At a certain price point, one is paying not so much for the actual quality of the wine as “the scarcity, the story behind it, the critical scores,” Mark Oldman, author of How to Drink Like a Billionaire, explained to Forbes. “Or, it could simply be priced higher so we value it more—the luxury good effect.

Long dismissed as ideological representatives of the dominant powers, liberal economists have never experienced the pessimism of many modern Marxists regarding economic development of the periphery. It has come as something of a shock to Marxian writers that the empirical evidence on economic growth in the periphery since the Second World War has borne out much of the liberal case. Those countries which adopted strategies of export-oriented growth have achieved the most spectacular performance, while countries favouring self-sufficiency have done relatively poorly. Countries which have resisted distorting market prices have out-performed the heavily interventionist backward economies, which have in varying degrees emulated the Soviet model and and replaced economic mechanisms with direct controls and administrative allocation.

Stock Guide material includes “Earnings and Dividend Rankings,” which are based on stability and growth of these factors for the past eight years. (Thus price attractiveness does not enter here.) We include the S & P rankings in our Table 15-1. Ten of the 15 issues are ranked B+ (= average) and one (American Maize) is given the “high” rating of A. If our enterprising investor wanted to add a seventh mechanical criterion to his choice, by considering only issues ranked by Standard & Poor’s as average or better in quality, he might still have about 100 such issues to choose from. One might say that a group of issues, of at least average quality, meeting criteria of financial condition as well, purchasable at a low multiplier of current earnings and below asset value, should offer good promise of satisfactory investment results.

Inside AWS, Jassy applied that adage ferociously. The rhythms of a week at AWS revolved around several formal “mechanisms” or well-honed processes or rituals. Ideas for new services, their names, pricing changes, and marketing plans were meticulously written as six-page documents and presented to Jassy in his twentieth-floor meeting room, dubbed “the Chop” (the name Jassy and his roommate had given their Harvard dorm room, from a novel they were assigned in European literature, Stendhal’s The Charterhouse of Parma).

Six key themes The real reset has gone much deeper and encompasses six key themes, all of which are linked: 1) The shift from a push system, based on producer dominance, oligopolistic competition, limited supply and restricted access, to a pull system driven by consumer dominance, near-perfect competition, perfect knowledge and ubiquitous access to goods. 2) The change from mass marketing, based on a few research and segmentation studies, to personalized marketing, based on individual customer data. 3) The realization that the e-commerce revolution and the communications revolution (social media, user reviews, influencers, etc.) has broken the traditional supply chain, with its multiple players – manufacturers, branded wholesalers and retailers – all supping from the margin cup and adding their mark-ups to prices, and replaced it with a shorter and more direct route to market. 5) The realization that the stores channel was not the only, or even best, way of moving goods from factories to consumers. Indeed, that it was inferior to the e-commerce channel in many respects as a pure goods-transmission mechanism. 6) That putting the consumer at the heart of the business model required seeing the different channels as the consumer saw them – not competing, but complementary to each other. 7) That based on this, the traditional model of the store, as a ‘warehouse’ piled high with stock and with just a narrow fringe of branding and customer service on top, was obsolete and that only a ruthless attention to the remaining added value of physical stores could ensure their continued relevance and survival.

It’s difficult for outsiders to even understand the nature of a contango market. In essence, the price of oil in spot markets, which reflect the price of oil today, tends to be lower than the price of oil to be delivered in the future. This is attributable to a host of complex reasons.I In the relatively rare scenario when oil today is cheaper than oil in the future, the markets are said to be in contango, and it doesn’t tend to last very long. Usually the market reverts to its normal state of cheaper oil in the future. When the market goes into contango, it presents a whole host of ways for Koch’s traders to profit. In late 2008, the potential profits were extraordinary. The size of the contango became enormous—the gap between oil sold today and oil sold for delivery a few months out became roughly $8 a barrel. A more common level of contango would be in the range of $2 or $4 a barrel. And the gap wasn’t just wide, it was long-lasting. The markets remained in contango for several months. Koch Industries, and a handful of other giant oil producers, were able to exploit this gap in a special way. Because Koch Industries traded in both the futures markets and the physical markets, it could execute something called the “contango storage play.” One former senior trader within Koch Supply & Trading called the contango storage play a “bread-and-butter” strategy for Koch’s crude oil department. The mechanics of the contango storage play seem deceptively simple. A trader at Koch Industries buys oil in the spot markets, where it is cheap. Then, the trader sells oil for delivery in the futures markets, where oil is more expensive. When the contango gap is $8, it is easy to picture how quickly the profits pile up. The trader can buy oil for $35 and sell it for $43, almost instantly. There is a catch, however. To execute the contango storage play, the trader must be able to do something that most traders can’t do—they must be able to deliver the actual, physical oil in that future month. If a typical oil speculator—who did not own an oil refinery, storage tanks, or an oil tanker ship—tried to execute the contango storage trade, they could find themselves shut out. Executing the contango storage trade didn’t just require deep knowledge of arcane shipping markets and transportation law; it also required deep relationships in the private world of oil production.

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