Small Scale Industries Quotes

Empirical evidence suggests that the relationship between the profitability of larger share and smaller share depends on the industry. Exhibit 7-1 compares the rate of return on equity of the largest firms accounting for at least 30 percent of industry sales (leaders) to the rate of return on equity of the medium-sized firms in the same industry (followers). In this calculation small firms with assets less than $500,000 were excluded. Although some of the industries in the sample are overly broad, it is striking that followers were noticeably more profitable than leaders in 15 of 38 industries. The industries in which the followers’ rates of return were higher appear generally to be those where economies of scale are either not great or absent (clothing, footwear, pottery, meat products, carpets) and/or those that are highly segmented (optical, medical and ophthalmic goods, liquor, periodicals, carpets, and toys and sporting goods). The industries in which leaders’ rates of return are higher seem to be generally those with heavy advertising (soap; perfumes; soft drinks; grain mill products, i.e., cereal; cutlery) and/or research outlays and production economies of scale (radio and television, drugs, photographic equipment). This outcome is as we would expect.

It is the unco-ordinated activity of large-scale production that leads to those periodical crises and depressions which inflict such untold hardship upon the working masses of the people in industrialized countries. Small-scale production carried on by individuals who own the instruments with which they personally work is not subject to periodical slumps. Furthermore, the ownership of the means of small-scale, personal production has none of the disastrous political, economic and psychological consequences of large-scale production-loss of independence, enslavement to an employer, insecurity of the tenure of employment.

Because it is located so far south, and the coastal plain quickly rises into high land, South Africa is one of the very few African countries that do not suffer from the curse of malaria, as mosquitoes find it difficult to breed there. This allowed the European colonialists to push into its interior much further and faster than in the malaria-riddled tropics, settle, and begin small-scale industrial activity which grew into what is now southern Africa’s biggest economy.

In modern society an individual's loyalty must be first to the system and only secondarily to a small-scale community, because if the internal loyalties of small-scale communities were stronger than loyalty to the system, such communities would pursue their own advantage at the expense of the system. Suppose that a public official or a corporation executive appoints his cousin, his friend or his co-religionist to a position rather than appointing the person best qualified for the job. He has permitted personal loyalty to supersede his loyalty to the system, and that is "nepotism" or "discrimination", both of which are terrible sins in modern society. Thus an advanced industrial society can tolerate only those small-scale communities that are emasculated, tamed and made into tools of the system.

All communities require sustainable ways to make a living. Economic sustainability involves: Small-scale business, crafts, and services that create maximum diversity of economic base and a rich ecology of financial, income and job opportunities. Possibilities include cottage industries, local services, education, printing and publishing, trading, small-scale manufacturing, consulting, shops and cooperatives.

Neofeudalism: Much as warlords seized land in the Norman Conquest and levied rent on subject populations (starting with the Domesday Book, the great land census of England and Wales ordered by William the Conqueror), so today’s financialized mode of warfare uses debt leverage and foreclosure to pry away land, natural resources and economic infrastructure. The commons are privatized by bondholders and bankers, gaining control of government and shifting taxes onto labor and small-scale industry. Household accounts, corporate balance sheets and public budgets are earmarked increasingly to pay real estate rent, monopoly rent, interest and financial fees, and to bear the taxes shifted off rentier wealth. The rentier oligarchy makes itself into a hereditary aristocracy lording it over the population at large from gated communities that are the modern counterpart to medieval castles with their moats and parapets.

The lower strata of the middle class—the small tradespeople, shopkeepers, retired tradesmen generally, the handicraftsmen and peasants—all these sink gradually into the proletariat, partly because their diminutive capital does not suffice for the scale on which Modern Industry is carried on, and is swamped in the competition with the large capitalists, partly because their specialized skill is rendered worthless by the new methods of production. Thus the proletariat is recruited from all classes of the population.

When I first began to criticize small farming, a number of critics (most of them small-scale farmers) roundly condemned me for supporting agribusiness. In my favorite example to date, Joel Salatin, who figures prominently in the grass-fed-beef chapter, condemned my “love affair with confinement hog factories”! This reaction, while wildly inaccurate, is nonetheless important to take seriously. Most notably, it’s almost comically indicative of how narrowly we have framed our options. Joel was serious. His accusation shows that by constricting our choices to animal products sourced from either industrial or nonindustrial operations, by holding up the animal-based alternatives to industrial agriculture as our only alternative, we have silenced discussion of the most fertile, most politically consequential, and most reform-minded choice: eating plants. This alternative to the alternatives changes the entire game of revolutionizing our broken food system. It places the food movement on a new foundation, infuses it with fresh energy, and promotes the only choice that keeps agribusiness executives awake at night.

reinvention. Cities thrive when they have many small firms and skilled citizens. Detroit was once a buzzing beehive of small-scale interconnected inventors—Henry Ford was just one among many gifted entrepreneurs. But the extravagant success of Ford’s big idea destroyed that older, more innovative city. Detroit’s twentieth-century growth brought hundreds of thousands of less-well-educated workers to vast factories, which became fortresses apart from the city and the world. While industrial diversity, entrepreneurship, and education lead to innovation, the Detroit model led to urban decline. The age of the industrial city is over, at least in the West. Too many officials in troubled cities

Etatism by no means aims at the formal transformation of all ownership of the means of production into State ownership by a complete overthrow of the established legal system. Only the biggest industrial, mining, and transport enterprises are to be nationalized; in agriculture, and in medium- and small-scale industry, private property is nominally to continue. Nevertheless, all enterprises are to become State undertakings in fact. Owners are to be left the title and dignity of ownership, it is true, and to be given a right to the receipt of a 'reasonable' income, 'in accordance with their position'; but, in fact, every business is to be changed into a government office and every livelihood into an official profession.

Cruising the picturesque streets of his beloved Pinehaven, Carson began to understand that what he sought was an escape from the hubris of humanity, from the endless discontent of those who believed in one utopia or another in spite of the fact that history showed utopian thinking to lead inevitably to disaster and often to mass murder on an industrial scale. But of course there could be no escape from the overweening pride and arrogance of the species. You could withdraw, remake your life with a small circle of friends who didn’t wish to silence and punish their fellow countrymen with whom they disagreed, who knew the grievous threat to peace that arose from contempt for others, from an inflated self-esteem that became vainglory. But there was no town remote enough, no fortress walls high enough to protect you from mad ideas with mass appeal

[A] technological society has to weaken family ties and local communities if it is to function efficiently. In modern society an individual's loyalty must be first to the system and only secondarily to a small-scale community, because if the internal loyalties of small-scale communities were stronger than loyalty to the system, such communities would pursue their own advantage at the expense of the system... Suppose that a public official or a corporation executive appoints his cousin, his friend or his co-religionist to a position rather than appointing the person best qualified for the job. He has permitted personal loyalty to supersede his loyalty to the system, and that is "nepotism" or "discrimination," both of which are terrible sins in modern society. Would-be industrial societies that have done a poor job of subordinating personal or local loyalties to loyalty to the system are usually very inefficient.

Progress was real progress only when it evolved naturally and thoughtfully from the history of human experience and accumulated wisdom. When it was imposed in contempt for that experience and wisdom, then progress was in fact radical destruction. ...Carson began to understand that what he sought was an escape from the hubris of humanity, from the endless discontent of those who believed in one utopia or another in spite of the fact that history showed utopian thinking to lead inevitably to disaster and often to mass murder on an industrial scale. But of course there could be no escape from the overweening pride and arrogance of the species. You could withdraw, remake your life with a small circle of friends who didn’t wish to silence and punish their fellow countrymen with whom they disagreed, who knew the grievous threat to peace that arose from contempt for others, from an inflated self-esteem that became vainglory. But there was no town remote enough, no fortress walls high enough to protect you from mad ideas with mass appeal.

Newspapers back then still wielded a powerful influence over public opinion, especially their editorial and op-ed pages. I looked up the fifty top newspapers in the United States. Our ten consulates covered the areas in which they were published and distributed. If each consulate submitted an op-ed article to their local papers every few months, we could produce a critical mass of op-eds to influence the senators, members of Congress and other decision makers who read those pages. I set up a small cottage industry in the embassy to prepare and distribute the op-eds. Sharply crafted by writers I recruited, they were signed by Israel’s consuls. I allowed the consuls to insert changes to suit their particular audiences. If they submitted good op-eds on their own, I encouraged that, too. Soon we blanketed the key opinion markets of the United States with a steady stream of pro-Israeli op-eds debunking the vilifications leveled against us. Nothing on this scale had been done in America since my father published his ads during World War II. We started hearing the arguments and ideas we were seeding in print on television. When others repeat your ideas as their own, you are getting traction.

Hunter-gatherer societies have typically been egalitarian, as we'll soon see, throughout hominin history. Inequality emerged when stuff, things to possess and accumulate, was invented following animal domestication and the development of agriculture. The more stuff, reflecting surplus, job specialization, and technological sophistication, the greater the potential inequality. Moreover, inequality expands enormously when cultures invent inheritance within families. Once invented, inequality became pervasive. Among traditional pastoralists or small-scale agricultural societies, levels of wealth inequality match or exceed those in the most unequal industrialized societies. Why have stratified cultures dominated the planet, generally replacing more egalitarian ones? For population biologist Peter Turchin, the answer is that stratified cultures are ideally suited to being conquerors. They come with chains of command. Both empirical and theoretical work suggest that in addition, in unstable environments, stratified societies are better able to survive resource shortages than egalitarian cultures by sequestering mortality to the lower classes. In other words, when times are tough, the unequal access to wealth becomes the unequal distribution of misery and death.

demonstrating that the first of these, the integral fast reactor, was safe even under the circumstances that destroyed Three Mile Island 2 and would prove disastrous at Chernobyl and Fukushima. The liquid fluoride thorium reactor (LFTR), an even more advanced concept developed at Tennessee’s Oak Ridge National Laboratory, is fueled by thorium. More plentiful and far harder to process into bomb-making material than uranium, thorium also burns more efficiently in a reactor and could produce less hazardous radioactive waste with half-lives of hundreds, not tens of thousands, of years. Running at atmospheric pressure, and without ever reaching a criticality, the LFTR doesn’t require a massive containment building to guard against loss-of-coolant accidents or explosions and can be constructed on such a compact scale that every steel mill or small town could have its own microreactor tucked away underground. In 2015 Microsoft founder Bill Gates had begun funding research projects similar to these fourth-generation reactors in a quest to create a carbon-neutral power source for the future. By then, the Chinese government had already set seven hundred scientists on a crash program to build the world’s first industrial thorium reactor as part of a war on pollution. “The problem of coal has become clear,” the engineering director of the project said. “Nuclear power provides the only solution.

The beef cattle industry provides a good example of how a fragmented industry can change in structure. The industry has historically been characterized by a large number of small ranchers grazing cattle on rangelands and transporting them to a meat-packer for processing. Raising cattle has traditionally involved few economies of scale; if anything, there could well be diseconomies of controlling a very large herd and moving it from area to area. However, technological developments have led to the wider use of the feedlot as an alternative process for fattening cattle. Under carefully controlled conditions, the feedlot has proven to be a far cheaper way to put weight on animals. Constructing feedlots requires large capital outlays, though, and there appear to be significant economies of scale in their operation. As a result, some large beef growers, such as Iowa Beef and Monfort, are emerging and the industry is concentrating. These large growers are beginning to be large enough to backward integrate into processing of feeds and to forward integrate into meat processing and distribution. The latter has led to the development of brand names. In this industry the fundamental cause of fragmentation was the production technology utilized for fattening cattle. Once this impediment to consolidation was removed, a process of structural change was triggered which has encompassed many elements of industry structure going far beyond feedlots alone.

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

Man is born into a world of production and social relations. The unequal opportunities of different lands, the more or less rapid improvements in the means of production, and the struggle for life have rapidly created social inequalities that have been crystallized into antagonisms between production and distribution; and consequently into class struggles. These struggles and antagonisms are the motive power of history. Slavery in ancient times and feudal bondage were stages on a long road that led to the artisanship of the classical centuries when the producer was master of the means of production. At this moment the opening of world trade routes and the discovery of new outlets demanded a less provincial form of production. The contradiction between the method of production and the new demands of distribution already announces the end of the regime of small-scale agricultural and industrial production. The industrial revolution, the invention of steam appliances, and competition for outlets inevitably led to the expropriation of the small proprietor and to the introduction of large-scale production. The means of production are then concentrated in the hands of those who are able to buy them; the real producers, the workers, now only dispose of the strength of their arms, which can be sold to the "man with the money." Thus bourgeois capitalism is defined by the separation of the producer from the means of production. From this conflict a series of inevitable consequences are going to spring which allow Marx to predicate the end of social antagonisms.

Moore’s Law, the rule of thumb in the technology industry, tells us that processor chips—the small circuit boards that form the backbone of every computing device—double in speed every eighteen months. That means a computer in 2025 will be sixty-four times faster than it is in 2013. Another predictive law, this one of photonics (regarding the transmission of information), tells us that the amount of data coming out of fiber-optic cables, the fastest form of connectivity, doubles roughly every nine months. Even if these laws have natural limits, the promise of exponential growth unleashes possibilities in graphics and virtual reality that will make the online experience as real as real life, or perhaps even better. Imagine having the holodeck from the world of Star Trek, which was a fully immersive virtual-reality environment for those aboard a ship, but this one is able to both project a beach landscape and re-create a famous Elvis Presley performance in front of your eyes. Indeed, the next moments in our technological evolution promise to turn a host of popular science-fiction concepts into science facts: driverless cars, thought-controlled robotic motion, artificial intelligence (AI) and fully integrated augmented reality, which promises a visual overlay of digital information onto our physical environment. Such developments will join with and enhance elements of our natural world. This is our future, and these remarkable things are already beginning to take shape. That is what makes working in the technology industry so exciting today. It’s not just because we have a chance to invent and build amazing new devices or because of the scale of technological and intellectual challenges we will try to conquer; it’s because of what these developments will mean for the world.

The real improvements then must come, to a considerable extent, from the local communities themselves. We need local revision of our methods of land use and production. We need to study and work together to reduce scale, reduce overhead, reduce industrial dependencies; we need to market and process local products locally; we need to bring local economies into harmony with local ecosystems so that we can live and work with pleasure in the same places indefinitely; we need to substitute ourselves, our neighborhoods, our local resources, for expensive imported goods and services; we need to increase cooperation among all local economic entities: households, farms, factories, banks, consumers, and suppliers. If. we are serious about reducing government and the burdens of government, then we need to do so by returning economic self-determination to the people. And we must not do this by inviting destructive industries to provide "jobs" to the community; we must do it by fostering economic democracy. For example, as much as possible the food that is consumed locally ought to be locally produced on small farms, and then processed in small, non- polluting plants that are locally owned. We must do everything possible to provide to ordinary citizens the opportunity to own a small, usable share of the country. In that way, we will put local capital to work locally, not to exploit and destroy the land but to use it well. This is not work just for the privileged, the well-positioned, the wealthy, and the powerful. It is work for everybody. I acknowledge that to advocate such reforms is to advocate a kind of secession-not a secession of armed violence but a quiet secession by which people find the practical means and the strength of spirit to remove themselves from an economy that is exploiting and destroying their homeland. The great, greedy, indifferent national and international economy is killing rural America, just as it is killing America's cities--it is killing our country. Experience has shown that there is no use in appealing to this economy for mercy toward the earth or toward any human community. All true patriots must find ways of opposing it. --1991

Your committee is satisfied from the proofs submitted ... that there is an established and well defined identity and community of interest between a few leaders of finance ... which has resulted in great and rapidly growing concentration of the control of money and credit in the hands of these few men.... Under our system of issuing and distributing corporate securities the investing public does not buy directly from the corporation. The securities travel from the issuing house through middlemen to the investor. It is only the great banks or bankers with access to the mainsprings of the concentrated resources made up of other people's money, in the banks, trust companies, and life insurance companies, and with control of the machinery for creating markets and distributing securities, who have had the power to underwrite or guarantee the sale of large-scale security issues. The men who through their control over the funds of our railroad and industrial companies are able to direct where such funds shall be kept, and thus to create these great reservoirs of the people's money are the ones who are in a position to tap those reservoirs for the ventures in which they are interested and to prevent their being tapped for purposes which they do not approve.... When we consider, also, in this connection that into these reservoirs of money and credit there flow a large part of the reserves of the banks of the country, that they are also the agents and correspondents of the out-of-town banks in the loaning of their surplus funds in the only public money market of the country, and that a small group of men and their partners and associates have now further strengthened their hold upon the resources of these institutions by acquiring large stock holdings therein, by representation on their boards and through valuable patronage, we begin to realize something of the extent to which this practical and effective domination and control over our greatest financial, railroad and industrial corporations has developed, largely within the past five years, and that it is fraught with peril to the welfare of the country.3 Such was the nature of the wealth and power represented by those six men who gathered in secret that night and travelled in the luxury of Senator Aldrich's private car.

The reasons for cooperatives’ success should be obvious by now, but they are worth reiterating: “The major basis for cooperative success…has been superior labor productivity. Studies comparing square-foot output have repeatedly shown higher physical volume of output per hour, and others…show higher quality of product and also economy of material use.”118 Hendrik Thomas concludes from an analysis of Mondragon that “Productivity and profitability are higher for cooperatives than for capitalist firms. It makes little difference whether the Mondragon group is compared with the largest 500 companies, or with small- or medium-scale industries; in both comparisons the Mondragon group is more productive and more profitable.”119 As we have seen, recent research has arrived at the same conclusions. It is a truism by now that worker participation tends to increase productivity and profitability. Research conducted by Henk Thomas and Chris Logan corroborates these conclusions. “A frequent but unfounded criticism,” they observe, “of self-managed firms is that workers prefer to enjoy a high take-home pay rather than to invest in their own enterprises. This has been proven invalid…in the Mondragon case… A comparison of gross investment figures shows that the cooperatives invest on average four times as much as private enterprises.” After a detailed analysis they also conclude that “there can be no doubt that the [Mondragon] cooperatives have been more profitable than capitalist enterprises.”120 Recent data indicate the same thing.121 One particularly successful company, Irizar, which was mentioned earlier, has been awarded prizes for being the most efficient company in its sector; in Spain it has ten competitors, but its market share is 40 percent. The same level of achievement is true of its subsidiaries, for instance in Mexico, where it had a 45 percent market share in 2005, six years after entering the market. An author comments that “the basis for this increased efficiency appears to be linked directly to the organization’s unique participatory and democratic management structure.”122 A major reason for all these successes is Mondragon’s federated structure: the group of cooperatives has its own supply of banking, education, and technical support services. The enormous funds of the central credit union, the Caja Laboral Popular, have likewise been crucial to Mondragon’s expansion. It proves that if cooperatives have access to credit they are perfectly capable of being far more successful than private enterprises.

Man: Don't these precedents suggest that there is something inherently pre-industrial about the applicability of libertarian ideas—that they necessarily presuppose a rather rural society in which technology and production are fairly simple, and in which the economic organization tends to be small-scale and localized? Well, let me separate that into two questions: one, how anarchists have felt about it, and two, what I think is the case. As far as anarchist reactions are concerned, there are two. There has been one anarchist tradition—and one might think, say, of Kropotkin as a representative—which had much of the character you describe. On the other hand there's another anarchist tradition that develops into anarcho-syndicalism which simply regarded anarchist ideas as the proper mode of organization for a highly complex advanced industrial society. And that tendency in anarchism merges, or at least inter-relates very closely with a variety of left-wing Marxism, the kind that one finds in, say, the Council Communists that grew up in the Luxemburgian tradition, and that is later represented by Marxist theorists like Anton Pannekoek, who developed a whole theory of workers' councils in industry and who is himself a scientist and astronomer, very much part of the industrial world. So which of these two views is correct? I mean, is it necessary that anarchist concepts belong to the pre-industrial phase of human society, or is anarchism the rational mode of organization for a highly advanced industrial society? Well, I myself believe the latter, that is, I think that industrialization and the advance of technology raise possibilities for self-management over a broad scale that simply didn't exist in an earlier period. And that in fact this is precisely the rational mode for an advanced and complex industrial society, one in which workers can very well become masters of their own immediate affairs, that is, in direction and control of the shop, but also can be in a position to make the major substantive decisions concerning the structure of the economy, concerning social institutions, concerning planning regionally and beyond. At present, institutions do not permit them to have control over the requisite information, and the relevant training to understand these matters. A good deal could be automated. Much of the necessary work that is required to keep a decent level of social life going can be consigned to machines—at least in principle—which means humans can be free to undertake the kind of creative work which may not have been possible, objectively, in the early stages of the industrial revolution.

Regardless of the recent hunger for handcrafted foods, they remain a niche market within the grocery store. America simply didn’t have many centuries during which a unique food heritage created by small pre-industrial farms might take hold. Add to that the evolving technology to process food on a commercial scale, and the large buildings we created to store and distribute these goods—the American supermarket—and you end up with a culinary tradition that consists of Mrs. Paul’s fish sticks, Swanson’s TV dinners, Birds Eye frozen peas, and Kraft Singles.

Some areas of opportunity: •   First, stop saying, “Well, this is just the way it is in our industry.” •   Have your available cash reported DAILY, with a short explanation of why it changed in the last 24 hours, and chart it against accounts receivable (AR) and accounts payable (AP) weekly. You’ll learn so much more about your business when you see how the cash is flowing on a daily basis. •   If you want to be paid sooner, ask. Small firms are finding that large companies (and governments!!) will pay considerably faster or even prepay if they simply ask, ask, ask, ask, and ask some more. •   Give value back to customers who pay on time or in advance. •   Get your invoices out more quickly. Hire one more person in accounting to do nothing but make sure invoicing is timely and follow up on payments. •   Send friendly reminders five days before the deadline that payments are due. Many customers are disorganized and will appreciate the reminders, resulting in faster payment. •   If invoices are recurring, obtain recurring credit card authorization from your customers to automate on-time payments. •   Understand why your clients are paying late. They might be unhappy with your product or service. Or perhaps an invoice has recurring mistakes, or it is not structured to flow through the customer’s automated invoicing system. •   Understand each customer’s payment cycles, and time your billings to coincide. •   Pay many of your own expenses with a credit card so you can play the float. Get your own customers to pay by credit card, so they can pay you quickly even if their cash flow is slow. •   Help your customers improve their cash flow so they can pay you on time. Offer them leasing options, for instance. •   Shorten cycles for delivery of your product or service. All of you have some kind of “work in progress.” The faster you complete projects, the faster you get paid. •   Offer a product or service so valuable that you have some leverage with your customers to get them to pay sooner. • Remember, improving margins and profit improves cash.

The socializing function of finance capital facilitates enormously the task of overcoming capitalism. Once finance capital has brought the most importance branches of production under its control, it is enough for society, through its conscious executive organ - the state conquered by the working class - to seize finance capital in order to gain immediate control of these branches of production. Since all other branches of production depend upon these, control of large-scale industry already provides the most effective form of social control even without any further socialization. A society which has control over coal mining, the iron and steel industry, the machine tool, electricity, and chemical industries, and runs the transport system, is able, by virtue of its control of these most important spheres of production, to determine the distribution of raw materials to other industries and the transport of their products. Even today, taking possession of six large Berlin banks would mean taking possession of the most important spheres of large-scale industry, and would greatly facilitate the initial phases of socialist policy during the transition period, when capitalist accounting might still prove useful. There is no need at all to extend the process of expropriation to the great bulk of peasant farms and small businesses, because as a result of the seizure of large-scale industry, upon which they have long been dependent, they would be indirectly socialized just as industry is directly socialized. It is therefore possible to allow the process of expropriation to mature slowly, precisely in those spheres of decentralized production where it would be a long drawn out and politically dangerous process. In other words, since finance capital has already achieved expropriation to the extent required by socialism, it is possible to dispense with a sudden act of expropriation by the state, and to substitute a gradual process of socialization through the economic benefits which society will confer. [pp. 367-368]

Recently, one of us noticed a worrisome discrepancy in a trial comparing two drugs. The trial called for doses of the drugs to be reduced if patients experienced prespecified adverse effects. When the trial started, the two drugs were dosed equivalently, but if a patient required a dose reduction, the dose of the industry drug fell a bit, while the dose of the comparison drug fell a lot. This kind of trial design does not routinely set off any warning bells—the bias in the design is easy to miss—but it shows how hard it is to develop a scale to catch all the small ways a trial may be biased.

Characteristically contested and ambiguous, frontiers were zones of shifting alliance and unstable identity. Just as the spatial frontier was terra nullius to an imperial power and fit only for colonization, so the time frontier was a zone of worthless indolence in the eyes of moral reformer and capitalist alike. But to its inhabitants it was one in which economic activity yielded to an intensity of social life, of informal gatherings that reworked the multitude of networks and alliances on which life in small-scale communities depended.

47. Among the abnormal conditions present in modern industrial society are excessive density of population, isolation of man from nature, excessive rapidity of social change and the breakdown of natural small-scale communities such as the extended family, the village or the tribe.

Competition has driven prices to a point at which online bookselling is reduced to either a hobby or a big industry dominated by a few huge players with vast warehouses and heavily discounted postal contracts. The economies of scale make it impossible for the small or medium-sized business to compete. At the heart of it all is Amazon, and while it would be unfair to lay all the woes of the industry at Amazon’s feet, there can be no doubt that it has changed things for everyone.

Sometimes we focus on areas with huge addressable markets. Of course, venture capitalists often look at this particular aspect too. If we could get 1 percent of 1 percent of the total market, we could generate $1 billion. This methodology can be very flawed, though, because it’s rare that such large industries don’t have vicious competitors. Sometimes success can be found by being the largest fish in a small pond. Dominating a small industry through brand and distribution can provide more protection because larger companies often don’t want to go into that space.

In the words of Paul Johnson: The Temple, now, in Herod’s1 version, rising triumphantly over Jerusalem, was an ocular reminder that Judaism was about Jews and their history—not about anyone else. Other gods flew across the deserts from the East without much difficulty, jettisoning the inconvenient and embarrassing accretions from their past, changing, as it were, their accents and manners as well as their names. But the God of the Jews was still alive and roaring in his Temple, demanding blood, making no attempt to conceal his racial and primitive origins. Herod’s fabric was elegant, modern, sophisticated—he had, indeed, added some Hellenic decorative effects much resented by fundamentalist Jews who constantly sought to destroy them—but nothing could hide the essential business of the Temple, which was the ritual slaughter, consumption, and combustion of sacrificial cattle on a gigantic scale. The place was as vast as a small city. There were literally thousands of priests, attendants, temple-soldiers, and minions. To the unprepared visitor, the dignity and charity of Jewish disapora life, the thoughtful comments and homilies of the Alexandrian synagogue, was quite lost amid the smoke of the pyres, the bellows of terrified beasts, the sluices of blood, the abattoir stench, the unconcealed and unconcealable machinery of tribal religion inflated by modern wealth to an industrial scale. Sophisticated Romans who knew the Judaism of the diaspora found it hard to understand the hostility towards Jews shown by colonial officials who, behind a heavily-armed escort, had witnessed Jerusalem at festival time. Diaspora Judaism, liberal and outward-minded, contained the matrix of a universal religion, but only if it could be cut off from its barbarous origins; and how could so thick and sinewy an umbilical cord be severed? This description of “Herod’s” Temple (actually the Second Temple, built in the sixth century B.C. and rebuilt by Herod) is more than a bit overwrought. The God of the Jews did not roar in his Temple: the insoluble problem was that, since the destruction of the First Temple and, with it, the Ark of the Covenant, God had ceased to be present in his Temple. Nor would animal sacrifice have disgusted the gentiles, since Greeks, Romans, and all ancient peoples offered such sacrifices (though one cannot help wondering whether, had the Second Temple not been destroyed, it would today be ringed from morn to night by indignant animal-rights activists). But Johnson is right to emphasize that Judaism, in its mother city, could display a sweaty tribalism that gentiles would only find unattractive. The partisan, argumentative ambience of first-century Jerusalem, not unlike the atmosphere of the ultra-Orthodox pockets of the contemporary city, could repel any outsider, whether gentile or diaspora Jew. Perhaps most important is Johnson’s shrewd observation that Judaism “contained the matrix of a universal religion.” By this time, the more percipient inhabitants of the Greco-Roman world had come to the conclusion that polytheism, whatever manifestation it might assume, was seriously flawed. The Jews alone, by offering monotheism, offered a unitive vision, not the contradictory and flickering epiphanies of a fanciful pantheon of gods and goddesses. But could Judaism adapt to gentile needs, could it lose its foreign accent and outlandish manners? No one saw the opportunity more clearly than Luke; his gospel and its sequel, the Acts of the Apostles, present a Jesus and a Jesus Movement specifically tailored to gentile sensibility.

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To rebuild Detroit, we have to think of a new mode of production based upon serving human needs and the needs of the.… community and not on any get-rich-quick schemes.… If we are going to create hope especially for our young people, we have to stop seeing the city as just a place to which you come for a job or to make a living and start seeing it as the place where the humanity of people is enriched because they have the opportunity to live with people of many different ethnic and social backgrounds. The foundation of our city has to be people living in communities who realize that their human identity or their Love and Respect for Self is based on Love and Respect for others and who have also learned from experience that they can no longer leave the decision as to their present and their future to the market place, to corporations or to capitalist politicians, regardless of ethnic background. We, the People, have to see ourselves as responsible for our city and for each other, and especially for making sure that our children are raised to place more value on social ties than on material wealth.… We have to get rid of the myth that there is something sacred about large-scale production for the national and international market.… We have to begin thinking of creating small enterprises which produce food, goods and services for the local market, that is, for our communities and our city. Instead of destroying the skills of workers, which is what large-scale industry does, these small enterprises will combine craftsmanship, or the preservation and enhancement of human skills, with the new technologies which make possible flexible production and constant readjustment to serve the needs of local customers.… In order to create these new enterprises we need a view of our city which takes into consideration both the natural resources of our area and the existing and potential skills and talents of Detroiters.… We also need a fundamental change in our concept of Schools. Since World War II our schools have been transformed into custodial institutions where our children are housed for 12 years with no function except to study and get good grades so that they can win the certificates that will enable them to get a job.… We have to create schools which are an integral part of the community, in which young people naturally and normally do socially necessary and meaningful work for the community, for example, keeping the school grounds and the neighborhood clean and attractive, taking care of younger children, growing gardens which provide food for the community, etc., etc.5

The low-trust, family-oriented societies with weak intermediate organizations we have observed have all been characterized by a similar saddle-shaped distribution of enterprises. Taiwan, Hong Kong, Italy, and France have a host of smaller private firms that constitute the entrepreneurial core of their economies and a small number of very large, state-owned firms at the other end of the scale. In such societies, the state plays an important role in promoting large-scale enterprises that might not be spontaneously created by the private sector, albeit at some cost in efficiency. We might postulate then that as a general rule, any society with weak intermediate institutions and low trust outside the family will tend to have a similar distribution of firms in its economy. The Republic of Korea, however, presents an apparent anomaly that needs to be explained in order to preserve the validity of the larger argument. Korea is similar to Japan, Germany, and the United States insofar as it has very large corporations and a highly concentrated industrial structure. On the other hand, Korea is much closer to China than to Japan in terms of family structure. Families occupy a similarly important place in Korea as in China, and there are no Japanese-style mechanisms in Korean culture for bringing outsiders into family groups. Following the Chinese pattern, this should lead to small family businesses and difficulties in institutionalizing the corporate form of organization. The answer to this apparent paradox is the role of the Korean state, which deliberately promoted gigantic conglomerates as a development strategy in the 1960s and 1970s and overcame what would otherwise have been a cultural proclivity for the small- and medium-size enterprises typical of Taiwan. While the Koreans succeeded in creating large companies and zaibatsu in the manner of Japan, they have nonetheless encountered many Chinese-style difficulties in the nature of corporate governance, from management succession to relations on the shop floor. The Korean case shows, however, how a resolute and competent state can shape industrial structure and

There are other problems more closely related to the question of culture. The poor fit between large scale and Korea’s familistic tendencies has probably been a net drag on efficiency. The culture has slowed the introduction of professional managers in situations where, in contrast to small-scale Chinese businesses, they are desperately needed. Further, the relatively low-trust character of Korean culture does not allow Korean chaebol to exploit the same economies of scale and scope in their network organization as do the Japanese keiretsu. That is, the chaebol resembles a traditional American conglomerate more than a keiretsu network: it is burdened with a headquarters staff and a centralized decision-making apparatus for the chaebol as a whole. In the early days of Korean industrialization, there may have been some economic rationale to horizontal expansion of the chaebol into unfamiliar lines of business, since this was a means of bringing modern management techniques to a traditional economy. But as the economy matured, the logic behind linking companies in unrelated businesses with no obvious synergies became increasingly questionable. The chaebol’s scale may have given them certain advantages in raising capital and in cross-subsidizing businesses, but one would have to ask whether this represented a net advantage to the Korean economy once the agency and other costs of a centralized organization were deducted from the balance. (In any event, the bulk of chaebol financing has come from the government at administered interest rates.) Chaebol linkages may actually serve to hold back the more competitive member companies by embroiling them in the affairs of slow-growing partners. For example, of all the varied members of the Samsung conglomerate, only Samsung Electronics is a truly powerful global player. Yet that company has been caught up for several years in the group-wide management reorganization that began with the passing of the conglomerate’s leadership from Samsung’s founder to his son in the late 1980s.72 A different class of problems lies in the political and social realms. Wealth is considerably more concentrated in Korea than in Taiwan, and the tensions caused by disparities in wealth are evident in the uneasy history of Korean labor relations. While aggregate growth in the two countries has been similar over the past four decades, the average Taiwanese worker has a higher standard of living than his Korean counterpart. Government officials were not oblivious to the Taiwanese example, and beginning in about 1981 they began to reverse somewhat their previous emphasis on large-scale companies by reducing their subsidies and redirecting them to small- and medium-sized businesses. By this time, however, large corporations had become so entrenched in their market sectors that they became very difficult to dislodge. The culture itself, which might have preferred small family businesses if left to its own devices, had begun to change in subtle ways; as in Japan, a glamour now attached to working in the large business sector, guaranteed it a continuing inflow of Korea’s best and brightest young people.73

tea was drunk with boiled water, which killed off disease-carrying bacteria. Tea also possesses, in tannin, an antiseptic agent which made mothers’ breast milk the healthiest it had ever been. No other nation drank tea on the same scale as the British. This, according to Macfarlane, was the key to why the Industrial Revolution was born here instead of somewhere else.

I have no comments about government development & achievement after complete of one year. “People of India will be appreciated if building will be made with strong foundation. Control of inflation during this year due to reduction of crude price and FII inflows but that is not government achievement. Of course, Inflows of FII money support government and positive sentiment in the market. It is purely on temporary basis, not full proof method. People of India expect creation of employment through development of small scale industry and agriculture based industry. It will control CAD and devaluation of INR. Make economic strong with development work, but not only advertisement in paper. Expectation of people is very very high. Hope government will do so.