Tools Marketing Quotes

Greed, envy, sloth, pride and gluttony: these are not vices anymore. No, these are marketing tools. Lust is our way of life. Envy is just a nudge towards another sale. Even in our relationships we consume each other, each of us looking for what we can get out of the other. Our appetites are often satisfied at the expense of those around us. In a dog-eat-dog world we lose part of our humanity.

The writer Umberto Eco belongs to that small class of scholars who are encyclopedic, insightful, and nondull. He is the owner of a large personal library (containing thirty thousand books), and separates visitors into two categories: those who react with “Wow! Signore, professore dottore Eco, what a library you have ! How many of these books have you read?” and the others - a very small minority - who get the point that a private library is not an ego-boosting appendage but a research tool. Read books are far less valuable than unread ones. The library should contain as much of what you don’t know as your financial means, mortgage rates and the currently tight real-estate market allows you to put there. You will accumulate more knowledge and more books as you grow older, and the growing number of unread books on the shelves will look at you menancingly. Indeed, the more you know, the larger the rows of unread books. Let us call this collection of unread books an antilibrary.

If you are on social media, and you are not learning, not laughing, not being inspired or not networking, then you are using it wrong.

Used in combination with genomics, AI could help pharma companies to develop new drugs for rare diseases. The rarer a disease is, the smaller the market is and so the less likely it is to have been addressed. Big pharma is hesitant to take on the high development costs for new drugs if there’s no sign of a return on investment. Biological processes are complex, and that means that they lead to multidimensional data that human beings struggle to wrap their heads around. The good news is that AI is the perfect tool to spot patterns in this kind of data.

Fiction isn't bad. It is vital. Without commonly accepted stories about things like money, states or corporations, no complex human society can function. We can't play football unless everyone believes in the same made-up rules, and we can't enjoy the benefits of markets and courts without similar make-believe stories. But stories are just tools. They shouldn't become our goals or our yardsticks. When we forget that they are mere fiction, we lose touch with reality. Then we begin entire wars `to make a lot of money for the cooperation' or 'to protect the national interest'. Corporations, money and nations exist only in our imagination. We invented them to serve us; why do we find ourselves sacrificing our life in their service.

Without a strategy, your social media channels just become a source of entertainment rather than lead-generation tools.

Mathematics is principally a tool to meditate, rather than to compute.

Tweet others the way you want to be tweeted.

The market is a tool, and a useful one. But the worship of this tool is a hollow faith. Far more important than any tool is what you make with it.

Freedom of Speech doesn't justify online bullying. Words have power, be careful how you use them.

[A]s long as individuals are compelled to rent themselves on the market to those who are willing to hire them, as long as their role in production is simply that of ancillary tools, then there are striking elements of coercion and oppression that make talk of democracy very limited, if meaningful.

If you are in a position where you can reach people, then use your platform to stand up for a cause. HINT: social media is a platform.

Organic farming appealed to me because it involved searching for and discovering nature's pathways, as opposed to the formulaic approach of chemical farming. The appeal of organic farming is boundless; this mountain has no top, this river has no end.

Morals were nothing but things to be manipulated with. They were tools you could use against others, and weapons others could use against you.

I just don’t want you to ever not see me. I know so many people see me as nothing more than a tool for pain. But the other side of the coin is when people make excuses for everything I do. They blame it on a tragic past. On what I am. As though WHO you are is defined by WHAT you are.

I had one woman come up to me in a bookstore and say, 'You know, everyone told me it was a horror book, but when I finished it, I realized that it was a love story.' And she's absolutely right. In some ways, genre is a marketing tool.

There is no better tool to bring you closer to your competitors than market research. So, keep your friends close and your competitors even closer with the help of market research.

In the digital world, we have gained access to various online survey tools. Online surveys are replacing the old form of pen and paper surveys because of their ease and convenience.

Education itself is Marketing--marketing tools and perspectives to people who don't necessarily realize why they need them, how it will serve them, what they might accomplish with them. And, ensuingly, Marketing itself is Education (with no attempt to assess the value of what is being marketed).

Markets need a fresh supply of losers just as builders of the ancient pyramids needed a fresh supply of slaves. Losers bring money into the markets, which is necessary for the prosperity of the trading industry.

An astute trader aims to enter the market during quiet times and take profits during wild times.

Adolescence is a marketing tool.

In an age defined by a chasm between those who have power and those who don’t, elites have spread the idea that people must be helped, but only in market-friendly ways that do not upset fundamental power equations. The society should be changed in ways that do not change the underlying economic system that has allowed the winners to win and fostered many of the problems they seek to solve. The broad fidelity to this law helps make sense of what we observe all around: the powerful fighting to “change the world” in ways that essentially keep it the same, and “giving back” in ways that sustain an indefensible distribution of influence, resources, and tools.

The markets were now run by technology, but the technologists were still treated like tools. Nobody bothered to explain the business to them, but they were forced to adapt to its demands and exposed to its failures—which was, perhaps, why there had been so many more conspicuous failures.

It is hard enough to know what the market is going to do; if you don't know what you are going to do, the game is lost.

The store customer, who comes home with a package under his arm has learned nothing, except that a ten dollar bill is a source of power in the market place. The man or woman who has converted material into needed products via tools and skills has matured in the process.

The only truly dependable production technologies are those that are sustainable over the long term. By that very definition, they must avoid erosion, pollution, environmental degradation, and resource waste. Any rational food-production system will emphasize the well-being of the soil-air-water biosphere, the creatures which inhabit it, and the human beings who depend upon it.

The husband and wife who open another delicatessen store or another Mexican restaurant in the American suburb surely take a risk. But are they entrepreneurs? All they do is what has been done many times before. They gamble on the increasing popularity of eating out in their area, but create neither a new satisfaction nor new consumer demand. Seen under this perspective they are surely not entrepreneurs even though theirs is a new venture. McDonald’s, however, was entrepreneurship. It did not invent anything, to be sure. Its final product was what any decent American restaurant had produced years ago. But by applying management concepts and management techniques (asking, What is “value” to the customer?), standardizing the “product,” designing process and tools, and by basing training on the analysis of the work to be done and then setting the standards it required, McDonald’s both drastically upgraded the yield from resources, and created a new market and a new customer. This is entrepreneurship.

A brick could be used as a marketing tool. I’ll help you grow your business, if you help me plant this brick in the ground.


One Percent Solution: Videotape clients giving you testimonials and place these on your Web site home page. This is the most dramatic video marketing tool that I know of.

Yes, the Internet is a discovery tool, but no, you’re not going to get discovered that way. Instead, you will make your impact by uniting those you seek to serve.

You can make a lot of money from a book, but that is done by using a book as a marketing tool.

A stock screening feature is then used to find the leading stocks within the leading sectors.

They get caught up with tools and tactics and never figure out the big picture of what they’re actually trying to do and why.

To win in the markets, we need to master three essential components of trading: sound psychology, a logical trading system, and an effective risk management plan.

What you have now then is the marketing of racialized identities as tools for consumption. And certain racialized bodies and images are associated with hipness, coolness, edginess. So all kinds of youth all over the world are appropriating that style as a way of, sort of, countering authority, stating their rebelliousness, and wanting to be seen as significant.

The usefulness of the market, its effectiveness as a tool, cuts both ways. The real power of the American consumer has not yet been unleashed. The heads of Burger King, KFC, and McDonald’s should feel daunted; they’re outnumbered. There are three of them and almost three hundred million of you.

The essential difference between rich societies and poor societies does not stem from any greater effort the former devote to work, nor even from any greater technological knowledge the former hold. Instead it arises mainly from the fact that rich nations possess a more extensive network of capital goods wisely invested from an entrepreneurial standpoint. These goods consists of machines, tools, computers, buildings, semi-manufactured goods, software, etc., and they exist due to prior savings of the nation's citizens. In other words, comparatively rich societies possess more wealth because they have more time accumulated in the form of capital goods, which places them closer in time to the achievement of much more valuable goals.

The blond's booming voice was well-educated British, but his outfit didn't match it. His hair was the only normal thing about him--close cropped and without noticeable style. But his T-shirt was crossed with enough ammunition to take out a platoon, and he had a tool belt slung low on his hips that, along with a strap across his back, looked like it carried one of every type of handheld weapon on the market. I recognized a machete, two knives, a sawed-off shotgun, a crossbow, two handguns--one strapped to his thigh--and a couple of honest-to-God grenades. There were other things I couldn't identify, including a row of cork-topped bottles along the front of the belt. The getup, sort of mad scientist meets Rambo, would have made me smile, except that I believe in showing respect for someone carrying that much hardware.

Social media is a great tool for putting out fires, but it’s an even better tool for building brand equity and relationships with your customers. Once you stop thinking about it as a tool for shutting customers up, and rather as a tool for encouraging customers to speak up, and for you to speak to them, a whole world of branding and marketing opportunities will unfold.

Why do most traders lose and wash out of the markets? Emotional and mindless trading are big reasons, but there is another. Markets are actually set up so that most traders must lose money. The trading industry slowly kills traders with commissions and slippage.

A growth hacker is someone who has thrown out the playbook of traditional marketing and replaced it with only what is testable, trackable, and scalable. Their tools are e-mails, pay-per-click ads, blogs, and platform APIs instead of commercials, publicity, and money.

Buying market share by hiring your competitors’ salespeople does nothing good for your reputation in the industry. Maybe you don’t care when you’re young and brash, but eventually you learn that reputation is a crucial business asset, worth much more over the long run than a few extra sales.

I am not a capitalist in the simplistic left/right sense. But I do believe in the power of the global free-market economy and in using capitalist tools. I believe in the power of teh free market and the power of capital in the marketplace. I also believe that providing unemployment benefits is not the best way to address poverty. The able-bodied poor don't wan tor need charity. The dole only increases their misery, robs them of incentive and, more important, of self-respect.

Modernism isn't a design ethos any more, it's an economy of scale, and a marketing tool to sell the ordinary as something special, the sexless as erotic. A technological device without a specific, personalized identity has a subtext: it asserts the value of instrumentality. Its design is a reflection of its role... The anonymity of these objects is part of what they are: interchangeable commodities whose uniqueness in so far as they possess any is created by what is done with them. Function is an identity. And that identity is something we are encouraged to incorporate into our perception of self, that anonymity is proposed as something to emulate. Whimsy and uniqueness are indulgences.

Simply talking about your book is the biggest, easiest, most often over-looked, cheapest marketing tool.

Permission Marketing is the tool that unlocks the power of the Internet.

As a brand or branded individual, success means sending out interesting, authentic, relevant content on a regular basis.

The more tools you have to work on a problem in the form of experiences or knowledge, the more new ways you can figure out how to solve it.

While tracking trends can be a useful tool in dealing with the unpredictable future, market research can be more of a problem than a help. Research does best at measuring the past. New ideas and concepts are almost impossible to measure. No one has a frame of reference. People don’t know what they will do until they face an actual decision. The classic example is the research conducted before Xerox introduced the plain-paper copier. What came back was the conclusion that no one would pay five cents for a plain-paper copy when they could get a Thermofax copy for a cent and a half. Xerox ignored the research, and the rest is history.

There is a big difference between religion and spirituality. If you’re walking a spiritual path, it is because you’re trying to help yourself or others for the greater good. You’re trying to become a more conscious being through your actions and by understanding what motivates you. Religion, on the other hand, is basically a marketing plan. There is a middleman involved, and somewhere along the line someone is going to ask you for your credit-card number. They’re going to pass a plate in front of you, trick you into giving ten per cent of your income to some child-molesting fuckhead, or worse, trick you into giving up your civil rights over some storybook.

Fiction isn't bad. It is vital. Without commonly accepted stories about things like money, states or corporations, no complex human society can function. We can't play football unless everyone believes in the same made-up rules, and we can't enjoy the benefits of markets and courts without similar make-believe stories. But the stories are just tools. They should not become our goals or yardsticks. When we forget that they are mere fiction, we lose touch with reality.

In an ever-more complex world, Mandelbrot argues, scientists need both tools: image as well as number, the geometric view as well as the analytic. The two should work together. Visual geometry is like an experienced doctor's savvy in reading a patient's complexion, charts, and X-rays. Precise analysis is like the medical test results-the raw numbers of blood pressure and chemistry. "A good doctor looks at both, the pictures and the numbers. Science needs to work that way too," he says.

The mental weapon of fear would undoubtedly be the quickest way to accomplish totalitarianism, which could be accomplished by spreading fear through terrorism, followed by disarmament, and ultimately a complete fascist military takeover. Threat and the fear of insecurity (i.e., crime and recession) allow authorities quick access to exceptional power of authority. To disable capitalism’s market freedom, the global warming issue proves to be a great tool to promote totalitarian-collectivism.

Jeanette once told me that video games and mainstream entertainment were like marketing tools for the confused and disconnected youth of America. She believed society and its moral center, its sense of propriety and right and wrong, black and white, had become so corrupted on a basic level that one day all decent people would become overwhelmed and disconnect from society in Howard Hughes fashion. You had to worry when someone as smart and inherently decent as Jeanette Miller began talking like that.

Most of the successful innovators and entrepreneurs in this book had one thing in common: they were product people. They cared about, and deeply understood, the engineering and design. They were not primarily marketers or salesmen or financial types; when such folks took over companies, it was often to the detriment of sustained innovation. “When the sales guys run the company, the product guys don’t matter so much, and a lot of them just turn off,” Jobs said. Larry Page felt the same: “The best leaders are those with the deepest understanding of the engineering and product design.”34 Another lesson of the digital age is as old as Aristotle: “Man is a social animal.” What else could explain CB and ham radios or their successors, such as WhatsApp and Twitter? Almost every digital tool, whether designed for it or not, was commandeered by humans for a social purpose: to create communities, facilitate communication, collaborate on projects, and enable social networking. Even the personal computer, which was originally embraced as a tool for individual creativity, inevitably led to the rise of modems, online services, and eventually Facebook, Flickr, and Foursquare. Machines, by contrast, are not social animals. They don’t join Facebook of their own volition nor seek companionship for its own sake. When Alan Turing asserted that machines would someday behave like humans, his critics countered that they would never be able to show affection or crave intimacy. To indulge Turing, perhaps we could program a machine to feign affection and pretend to seek intimacy, just as humans sometimes do. But Turing, more than almost anyone, would probably know the difference. According to the second part of Aristotle’s quote, the nonsocial nature of computers suggests that they are “either a beast or a god.” Actually, they are neither. Despite all of the proclamations of artificial intelligence engineers and Internet sociologists, digital tools have no personalities, intentions, or desires. They are what we make of them.

The cotton gin meant bigger cotton yields and the iron tools to harvest it, iron horseshoes for the horses tugging the wagons with iron rims and parts that took it to market. More slaves and the iron to hold them. The crop birthed communities, requiring nails and braces for houses, the tools to build the houses, roads to connect them, and more iron to keep it all running. Let his father keep his disdain and his spirit, too. The two men were parts of the same system, serving a nation rising to its destiny.

I am that man, the sum of him, the all of him, the hairless biped who struggled upward from the slime and created love and law out of the anarchy of fecund life that screamed and squalled in the jungle. I am all that that man was and did become. I see myself, through the painful generations, snaring and killing the game and the fish, clearing the first fields from the forest, making rude tools of stone and bone, building houses of wood, thatching the roofs with leaves and straw, domesticating the wild grasses and meadow roots, fathering them to become the progenitors of rice and millet and wheat and barley and all manner of succulent edibles, learning to scratch the soil, to sow, to reap, to store, beating out the fibers of plants to spin into thread and to weave into cloth, devising systems of irrigation, working in metals, making markets and trade routes, building boats, and founding navigation—ay, and organizing village life, welding villages to villages till they became tribes, welding tribes together till they became nations, ever seeking the laws of things, ever making the laws of humans so that humans might live together in amity and by united effort beat down and destroy all manner of creeping, crawling, squalling things that might else destroy them.

You must begin as your own advocate, which means reading the magazines publishing the kind of stuff you write. You should also pick up the writers’ journals and buy a copy of Writer’s Market, the most valuable of tools for the writer new to the marketplace

. Myth and superstition cannot compete with science on the platforms of reason and facts. But on the platform of fear mongering, science is nowhere near as powerful a tool as to what amounts to historically as the most effective marketing strategy of all time.

Skill teachers are made scarce by the belief in the value of licenses. Certification constitutes a form of market manipulation and is plausible only to a schooled mind. Most teachers of arts and trades are less skillful, less inventive, and less communicative than the best craftsmen and tradesmen. Most high-school teachers of Spanish or French do not speak the language as correctly as their pupils might after half a year of competent drills. Experimentsconducted by Angel Quintero in Puerto Rico suggest that many young teen-agers, if given the proper incentives, programs, and access to tools, are better than most schoolteachers at introducing their peers to the scientific exploration of plants, stars, and matter, and to the discovery of how and why a motor or a radio functions.

But good records seem to get to the people who need them the most. I guess I have to believe that the best marketing tool is still a good song. And that it’s probably better that I put my time into writing one of those than learning how to do social media properly.” Petty

Industrial innovations are costly, and managers must justify their high cost by producing measurable proof of their superiority... [P]eriodic innovations in goods or tools foster the belief that anything new will be proven better. This belief has become an integral part of the modern world view. It is forgotten that whenever a society lives by this delusion, each marketed unit generates more wants than it satisfies. If new things are made because they are better, then the things most people use are not quite good. New models constantly renovate poverty. The consumer feels the lag between what he has and what he ought to get. He believes that products can be made measurably more valuable and allows himself to be constantly re-educated for their consumption. The "better" replaces the "good" as the fundamental normative concept.

Forgive me, I have yet to introduce myself.” The Human spread his arms expansively and bowed in his chair. He made grand gestures at his stall full of paper, ink, charts, and graphing tools, like they were his subjects, and he their king. “I am Enoch Michelson, adept cartographer, recluse, and the lord and master of a tiny, dark corner of Patrician’s Market. I am a knower of many useless things, and a knower of a few things that matter. Finder of lost items. Gossipmonger.” His smile grew even slyer. “And an informant for a little band of Majiski assassins.

What is a price? It is a proposed point of agreement between a buyer and seller. The proposal is the key. It is not a marching order. Past prices represent deals done in history. Current prices represent possible deals in the future. Prices embed vast information about perceived realities: resource availability, consumer demand, cultural biases and habits, speculations about the future. The price is also an amazing tool. It provides an objective basis for accounting and the assessment of profit and loss. Without prices, real prices rooted in real market experience, we’d been lost.

Mindset Shift Recap: #1: Sell a result, not a website. A website is only ever a tool. #2: Business owners always care most about their core business needs; not design, coding or technical aspects. #3: The market pays you for the value you create; not your time, effort, background, or education.

No one is alone in this world. No act is without consequences for others. It is a tenet of chaos theory that, in dynamical systems, the outcome of any process is sensitive to its starting point-or, in the famous cliche, the flap of a butterfly's wings in the Amazon can cause a tornado in Texas. I do not assert markets are chaotic, though my fractal geometry is one of the primary mathematical tools of "chaology." But clearly, the global economy is an unfathomably complicated machine. To all the complexity of the physical world of weather, crops, ores, and factories, you add the psychological complexity of men acting on their fleeting expectations of what may or may not happen-sheer phantasms. Companies and stock prices, trade flows and currency rates, crop yields and commodity futures-all are inter-related to one degree or another, in ways we have barely begun to understand. In such a world, it is common sense that events in the distant past continue to echo in the present.

This book contains a story and several other things. The other things might be connected with the story, or they might not; they might be connected to stories that haven't appeared yet. It's not easy to tell. It's easy to imagine how they might have turned up, though. The world is full of things like that: old postcards, theater programs, leaflets about bomb-proofing your cellar, greeting cards, photograph albums, holiday brochures, instruction booklets for machine tools, maps, catalogs, railway timetables, menu cards from long-gone cruise liners-all kinds of things that once served a real and useful purpose, but have now become cut adrift from the things and the people they relate to. They might have come from anywhere. They might have come from other worlds. That scribbled-on map, that publisher's catalog-they might have been put down absentmindedly in another universe, and been blown by a chance wind through an open window, to find themselves after many adventures on a market stall in our world.

Millennials are growing up highly attuned to the needs of the capital markets. We are encouraged to strategize and scheme to find places, times, and roles where we can be effectively put to work. Efficiency is our existential purpose, and we are a generation of finely honed tools, crafted from embryos to be lean, mean production machine.

With a tool like crystals—or herbs or candles—I see a lot of people buying and selling them like they are buying and selling feelings. I want to feel love, so I’ll buy a pink rock; I want to feel safe, so I’ll buy a black rock; I want to feel calm, so I’ll buy a clear rock. When it doesn’t work, the only logical conclusion—or so you’re led to believe—is that there must be something really wrong with you or maybe magic isn’t real after all! It’s not the crystal, and it’s for sure not you. It’s all based on manufactured insecurities—buying and selling feelings, especially to women, is just marketing 101—which are based on fears, and when you are afraid, you are easy to control.

Social media is much more than self-promotion. It is a two-way street, a set of tools that allow you to reach out to people and become the bringer of positive things and experiences. In turn, these people will not just support you. They will be there to help you increase your reach and audience – and turn your business into a viable endeavour.

your audience's needs, desires, and interests on social media - ask yourself what problems you can help them overcome, what questions you can answer, what type of content they prefer (e.g. text, photo, graphics, video), and when they are most likely to be around to see it. Tools like SEM Rush and TrueSocial Metrics are two popular paid options if you

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Tool lists from the fourteenth century indicate that pitchforks, spades, axes, plows, and harrows, which have teeth to break up soil, were widely used. Both plows and harrows could be pushed or pulled by peasants. However, during the Renaissance an increasing number of farms used horses for such tasks, as well as for pulling carts that would take surplus food to market in nearby towns.

The campaign against cancer, Farber learned, was much like a political campaign: it needed icons, mascots, images, slogans—the strategies of advertising as much as the tools of science. For any illness to rise to political prominence, it needed to be marketed, just as a political campaign needed marketing. A disease needed to be transformed politically before it could be transformed scientifically.

In the competitive world of digital marketing, converting prospects into loyal customers is the ultimate goal for any business. CallTrack.AI emerges as a revolutionary tool in this quest, leveraging the power of artificial intelligence to transform the lead generation process. How CallTrack.AI redefines the approach to capturing and nurturing leads, ultimately leading to higher conversion rates and a robust customer base?

WHY WAS A BEAUTIFUL YOUNG WOMAN SUCH A BIG DEAL? Beauty was a sign of health and reproductive capability; thus, a beautiful woman historically had wide hips (for childbearing), body symmetry (indicating no deformities), hair and teeth that weren’t falling out (indicating health). And she was young—at the beginning of her fertile years. Society needed to reinforce men’s biological dependency on female beauty for the same reasons it needed to make women dependent on male income: dependency created an incentive to marry. A man who was addicted to a woman’s beauty, youth, and sex would temporarily “lose his mind”—he would make the irrational decision to support her for the rest of his life. Female beauty, then, can be thought of as nature’s marketing tool: the way of marketing a woman for the survival of her genes.42 Which is why female beauty is the world’s most potent drug.

Although per capita income doubled during the half-century, not all sectors of society shared equally in this abundance. While both rich and poor enjoyed rising incomes, their inequality of wealth widened significantly. As the population began to move from farm to city, farmers increasingly specialized in the production of crops for the market rather than for home consumption. The manufacture of cloth, clothing, leather goods, tools, and other products shifted from home to shop and from shop to factory. In the process many women experienced a change in roles from producers to consumers with a consequent transition in status. Some craftsmen suffered debasement of their skills as the division of labor and power-driven machinery eroded the traditional handicraft methods of production and transformed them from self-employed artisans to wage laborers. The resulting potential for class conflict threatened the social fabric of this brave new republic.

The company’s most effective marketing tactic (besides making a great product) would never have been conceived or attempted by a pure marketing team. Instead, the engineers coded a set of tools that made it possible for every member to seamlessly cross-post his or her Airbnb listing on craigslist (because craigslist does not technically “allow” this, it was a fairly ingenious work-around). As a result, Airbnb—a tiny site—suddenly had free distribution on one of the most popular websites in the world.

Sound investing is not complicated. Save a portion of every dollar you earn or that otherwise comes your way. The greater the percent of your income you save and invest, the sooner you’ll have F-You Money. Try saving and investing 50% of your income. With no debt, this is perfectly doable. The beauty of a high savings rate is twofold: You learn to live on less even as you have more to invest. The stock market is a powerful wealth-building tool and you should be investing in it. But realize the market and the value of your shares will sometimes drop dramatically. This is absolutely normal and to be expected. When it happens, ignore the drops and buy more shares. This will be much, much harder than you think. People all around you will panic. The news media will be screaming Sell, Sell, Sell! Nobody can predict when these drops will happen, even though the media is filled with those who claim they can. They are delusional, trying to sell you something or both. Ignore them. When you can live on 4% of your investments per year, you are financially independent.

The Irish butter market, like its competition around the world, wouldn’t have existed without the manual labor of women. All together, their ability to transform a daily tide of milk into tubs, balls, bricks, mottes, and prints of butter constituted a cottage industry of global proportion. Although their production varied in quality and quantity across the buttermaking world, the basic techniques and tools dairywomen used were nearly identical across time and place. It’s easy to forget that the simple equipment women wielded to make butter also drove dairy trade, and more than any other tools they were proof of women’s pivotal economic role on the farm.

Here’s a Reader’s Digest version of my approach. I select mutual funds that have had a good track record of winning for more than five years, preferably for more than ten years. I don’t look at their one-year or three-year track records because I think long term. I spread my retirement, investing evenly across four types of funds. Growth and Income funds get 25 percent of my investment. (They are sometimes called Large Cap or Blue Chip funds.) Growth funds get 25 percent of my investment. (They are sometimes called Mid Cap or Equity funds; an S&P Index fund would also qualify.) International funds get 25 percent of my investment. (They are sometimes called Foreign or Overseas funds.) Aggressive Growth funds get the last 25 percent of my investment. (They are sometimes called Small Cap or Emerging Market funds.) For a full discussion of what mutual funds are and why I use this mix, go to daveramsey.com and visit MyTotalMoneyMakeover.com. The invested 15 percent of your income should take advantage of all the matching and tax advantages available to you. Again, our purpose here is not to teach the detailed differences in every retirement plan out there (see my other materials for that), but let me give you some guidelines on where to invest first. Always start where you have a match. When your company will give you free money, take it. If your 401(k) matches the first 3 percent, the 3 percent you put in will be the first 3 percent of your 15 percent invested. If you don’t have a match, or after you have invested through the match, you should next fund Roth IRAs. The Roth IRA will allow you to invest up to $5,000 per year, per person. There are some limitations as to income and situation, but most people can invest in a Roth IRA. The Roth grows tax-FREE. If you invest $3,000 per year from age thirty-five to age sixty-five, and your mutual funds average 12 percent, you will have $873,000 tax-FREE at age sixty-five. You have invested only $90,000 (30 years x 3,000); the rest is growth, and you pay no taxes. The Roth IRA is a very important tool in virtually anyone’s Total Money Makeover. Start with any match you can get, and then fully fund Roth IRAs. Be sure the total you are putting in is 15 percent of your total household gross income. If not, go back to 401(k)s, 403(b)s, 457s, or SEPPs (for the self-employed), and invest enough so that the total invested is 15 percent of your gross annual pay. Example: Household Income $81,000 Husband $45,000 Wife $36,000 Husband’s 401(k) matches first 3%. 3% of 45,000 ($1,350) goes into the 401(k). Two Roth IRAs are next, totaling $10,000. The goal is 15% of 81,000, which is $12,150. You have $11,350 going in. So you bump the husband’s 401(k) to 5%, making the total invested $12,250.

Which brings us back to where we started: climate change and bad timing. It must always be remembered that the greatest barrier to humanity rising to meet the climate crisis is not that it is too late or that we don’t know what to do. There is just enough time, and we are swamped with green tech and green plans. And yet the reason so many of us are inclined to answer Brad Werner’s provocative question in the affirmative is that we are afraid—with good reason—that our political class is wholly incapable of seizing those tools and implementing those plans, since doing so involves unlearning the core tenets of the stifling free-market ideology that governed every stage of their rise to power.

In a classic study of how names impact people’s experience on the job market, researchers show that, all other things being equal, job seekers with White-sounding first names received 50 percent more callbacks from employers than job seekers with Black-sounding names.5 They calculated that the racial gap was equivalent to eight years of relevant work experience, which White applicants did not actually have; and the gap persisted across occupations, industry, employer size – even when employers included the “equal opportunity” clause in their ads.6 With emerging technologies we might assume that racial bias will be more scientifically rooted out. Yet, rather than challenging or overcoming the cycles of inequity, technical fixes too often reinforce and even deepen the status quo. For example, a study by a team of computer scientists at Princeton examined whether a popular algorithm, trained on human writing online, would exhibit the same biased tendencies that psychologists have documented among humans. They found that the algorithm associated White-sounding names with “pleasant” words and Black-sounding names with “unpleasant” ones.7 Such findings demonstrate what I call “the New Jim Code”: the employment of new technologies that reflect and reproduce existing inequities but that are promoted and perceived as more objective or progressive than the discriminatory systems of a previous era.

Apple has always insisted on having a hardware monopoly, except for a brief period in the mid-1990s when they allowed clone-makers to compete with them, before subsequently putting them out of business. Macintosh hardware was, consequently, expensive. You didn’t open it up and fool around with it because doing so would void the warranty. In fact, the first Mac was specifically designed to be difficult to open—you needed a kit of exotic tools, which you could buy through little ads that began to appear in the back pages of magazines a few months after the Mac came out on the market. These ads always had a certain disreputable air about them, like pitches for lock-picking tools in the backs of lurid detective magazines.

Creating a symbiotic (more mutualistic) public-private innovation ecosystem thus requires new methods, metrics and indicators to evaluate public investments and their results. Without the right tools for evaluating investments, governments have a hard time knowing when they are merely operating in existing spaces and when they are making things happen that would not have happened otherwise. The result: investments that are too narrow, constrained by the prevailing path-dependent, techno-economic paradigm. A better way of evaluating a given investment would be to consider the different types of ‘spillovers’, including the creation of new skills and capabilities, and whether it led to the creation of new technologies, sectors and markets.

chain kept moving, and Ball led the file down through Virginia into North Carolina at a steady pace. As the days wore on, the men, who were never out of the chains, grew dirtier and dirtier. Lice hopped from scalp to scalp at night. Black-and-red lines of scabs bordered the manacles. No matter: The Georgia-man would let the people clean themselves before they got to market. In the meantime, the men were the propellant for the coffle-chain, which was more than a tool, more than mere metal. It was a machine. Its iron links and bands forced the black people inside them to do exactly what entrepreneurial enslavers, and investors far distant from slavery’s frontier, needed them to do in order to turn a $300 Maryland or Virginia purchase into a $600 Georgia sale.

Advice to your 20-year-old self? “I would say, ‘Write everything down because it’s all very fleeting.’ I would say, ‘Keep a journal,’ which I have but I would have been more meticulous. Then I would say, ‘Don’t bow to the gatekeepers at the head of, in my case, show business, but at the gate of any business or any endeavor.’ Don’t bow to the gatekeepers because I think, in essence, there are no gatekeepers. You are the gatekeeper. . . . “Don’t waste your time on marketing, just try to get better. . . . “And also, it’s not about being good; it’s about being great. Because what I find, the older I get, is that a lot of people are good, and a lot of people are smart, and a lot of people are clever. But not a lot of people give you their soul when they perform.

Representative democracy, as in, say, the United States or Great Britain, would be criticized by an anarchist of this school on two grounds. First of all because there is a monopoly of power centralized in the State, and secondly and critically—because representative democracy is limited to the political sphere and in no serious way encroaches on the economic sphere. Anarchists of this tradition have always held that democratic control of one's productive life is at the core of any serious human liberation, or, for that matter, of any significant democratic practice. That is, as long as individuals are compelled to rent themselves on the market to those who are willing to hire them, as long as their role in production is simply that of ancillary tools, then there are striking elements of coercion and oppression that make talk of democracy very limited, if even meaningful.

Wild animals enjoying one another and taking pleasure in their world is so immediate and so real, yet this reality is utterly absent from textbooks and academic papers about animals and ecology. There is a truth revealed here, absurd in its simplicity. This insight is not that science is wrong or bad. On the contrary: science, done well, deepens our intimacy with the world. But there is a danger in an exclusively scientific way of thinking. The forest is turned into a diagram; animals become mere mechanisms; nature's workings become clever graphs. Today's conviviality of squirrels seems a refutation of such narrowness. Nature is not a machine. These animals feel. They are alive; they are our cousins, with the shared experience kinship implies. And they appear to enjoy the sun, a phenomenon that occurs nowhere in the curriculum of modern biology. Sadly, modern science is too often unable or unwilling to visualize or feel what others experience. Certainly science's "objective" gambit can be helpful in understanding parts of nature and in freeing us from some cultural preconceptions. Our modern scientific taste for dispassion when analyzing animal behaviour formed in reaction to the Victorian naturalists and their predecessors who saw all nature as an allegory confirming their cultural values. But a gambit is just an opening move, not a coherent vision of the whole game. Science's objectivity sheds some assumptions but takes on others that, dressed up in academic rigor, can produce hubris and callousness about the world. The danger comes when we confuse the limited scope of our scientific methods with the true scope of the world. It may be useful or expedient to describe nature as a flow diagram or an animal as a machine, but such utility should not be confused with a confirmation that our limited assumptions reflect the shape of the world. Not coincidentally, the hubris of narrowly applied science serves the needs of the industrial economy. Machines are bought, sold, and discarded; joyful cousins are not. Two days ago, on Christmas Eve, the U.S. Forest Service opened to commercial logging three hundred thousand acres of old growth in the Tongass National Forest, more than a billion square-meter mandalas. Arrows moved on a flowchart, graphs of quantified timber shifted. Modern forest science integrated seamlessly with global commodity markets—language and values needed no translation. Scientific models and metaphors of machines are helpful but limited. They cannot tell us all that we need to know. What lies beyond the theories we impose on nature? This year I have tried to put down scientific tools and to listen: to come to nature without a hypothesis, without a scheme for data extraction, without a lesson plan to convey answers to students, without machines or probes. I have glimpsed how rich science is but simultaneously how limited in scope and in spirit. It is unfortunate that the practice of listening generally has no place in the formal training of scientists. In this absence science needlessly fails. We are poorer for this, and possibly more hurtful. What Christmas Eve gifts might a listening culture give its forests? What was the insight that brushed past me as the squirrels basked? It was not to turn away from science. My experience of animals is richer for knowing their stories, and science is a powerful way to deepen this understanding. Rather, I realized that all stories are partly wrapped in fiction—the fiction of simplifying assumptions, of cultural myopia and of storytellers' pride. I learned to revel in the stories but not to mistake them for the bright, ineffable nature of the world.

Timeline of History Years Before the Present 13.5 billion Matter and energy appear. Beginning of physics. Atoms and molecules appear. Beginning of chemistry. 4.5 billion Formation of planet Earth. 3.8 billion Emergence of organisms. Beginning of biology. 6 million Last common grandmother of humans and chimpanzees. 2.5 million Evolution of the genus Homo in Africa. First stone tools. 2 million Humans spread from Africa to Eurasia. Evolution of different human species. 500,000 Neanderthals evolve in Europe and the Middle East. 300,000 Daily usage of fire. 200,000 Homo sapiens evolves in East Africa. 70,000 The Cognitive Revolution. Emergence of fictive language. Beginning of history. Sapiens spread out of Africa. 45,000 Sapiens settle Australia. Extinction of Australian megafauna. 30,000 Extinction of Neanderthals. 16,000 Sapiens settle America. Extinction of American megafauna. 13,000 Extinction of Homo floresiensis. Homo sapiens the only surviving human species. 12,000 The Agricultural Revolution. Domestication of plants and animals. Permanent settlements. 5,000 First kingdoms, script and money. Polytheistic religions. 4,250 First empire – the Akkadian Empire of Sargon. 2,500 Invention of coinage – a universal money. The Persian Empire – a universal political order ‘for the benefit of all humans’. Buddhism in India – a universal truth ‘to liberate all beings from suffering’. 2,000 Han Empire in China. Roman Empire in the Mediterranean. Christianity. 1,400 Islam. 500 The Scientific Revolution. Humankind admits its ignorance and begins to acquire unprecedented power. Europeans begin to conquer America and the oceans. The entire planet becomes a single historical arena. The rise of capitalism. 200 The Industrial Revolution. Family and community are replaced by state and market. Massive extinction of plants and animals. The Present Humans transcend the boundaries of planet Earth. Nuclear weapons threaten the survival of humankind. Organisms are increasingly shaped by intelligent design rather than natural selection. The Future Intelligent design becomes the basic principle of life? Homo sapiens is replaced by superhumans?

Just as the printing press led to the appearance of a new set of possibilities for democracy, beginning five hundred years ago—and just as the emergence of electronic broadcasting reshaped those possibilities, beginning in the first quarter of the twentieth century—the Internet is presenting us with new possibilities to reestablish a healthy functioning self-government, even before it rivals television for an audience. In fact, the Internet is perhaps the greatest source of hope for reestablishing an open communications environment in which the conversation of democracy can flourish. It has extremely low entry barriers for individuals. The ideas that individuals contribute are dealt with, in the main, according to the rules of a meritocracy of ideas. It is the most interactive medium in history and the one with the greatest potential for connecting individuals to one another and to a universe of knowledge. An important distinction to make is that the Internet is not just another platform for disseminating the truth. It’s a platform for pursuing the truth, and the decentralized creation and distribution of ideas, in the same way that markets are a decentralized mechanism for the creation and distribution of goods and services. It’s a platform, in other words, for reason. But just as it is important to avoid romanticizing the printing press and the information ecosystem it created, it is also necessary to keep a clear-eyed view of the Internet’s problems and abuses. It is hard to imagine any human evil that is not somehow abundantly displayed somewhere on the Internet. Parents of young children are often horrified to learn what obscene, grotesque, and savage material is all too easily available to children whose Web-surfing habits are not supervised or electronically limited. Teen suicides, bullying, depravity, and criminal behavior of all descriptions are described and—some would argue—promoted on the Internet. As with any tool put at the disposal of humankind, it can be, and is, used for evil as well as good purposes. And as always, it is up to us—particularly those of us who live in a democracy—to make intelligent choices about how and for what we use this incredibly powerful tool.

OPTIONS FOR REDUCING While thrift stores such as Goodwill or the Salvation Army can be a convenient way to initially let go, many other outlets exist and are often more appropriate for usable items. Here are some examples: • Amazon.com • Antiques shops • Auction houses • Churches • Consignment shops (quality items) • Craigslist.org (large items, moving boxes, free items) • Crossroads Trading Co. (trendy clothes) • Diggerslist.com (home improvement) • Dress for Success (workplace attire) • Ebay.com (small items of value) • Flea markets • Food banks (food) • Freecycle.org (free items) • Friends • Garage and yard sales • Habitat for Humanity (building materials, furniture, and/or appliances) • Homeless and women’s shelters • Laundromats (magazines and laundry supplies) • Library (books, CDs and DVDs) • Local SPCA (towels and sheets) • Nurseries and preschools (blankets, toys) • Operation Christmas Child (new items in a shoe box) • Optometrists (eyeglasses) • Regifting • Rummage sales for a cause • Salvage yards (building materials) • Schools (art supplies, magazines, dishes to eliminate class party disposables) • Tool co-ops (tools) • Waiting rooms (magazines) • Your curb with a “Free” sign

TechCrunch, Fast Company, Mashable, Inc., Entrepreneur, and countless other publications. LinkedIn and Hacker News abound with job postings: Growth Hacker Needed. Their job isn’t to “do” marketing as I had always known it; it’s to grow companies really fast—to take something from nothing and make it something enormous within an incredibly tight window. And it says something about what marketing has become that these are no longer considered synonymous tasks. The term “growth hacker” has many different meanings for different people, but I’ll define it as I have come to understand it: A growth hacker is someone who has thrown out the playbook of traditional marketing and replaced it with only what is testable, trackable, and scalable. Their tools are e-mails, pay-per-click ads, blogs, and platform APIs instead of commercials, publicity, and money. While their marketing brethren chase vague notions like “branding” and “mind share,” growth hackers relentlessly pursue users and growth—and when they do it right, those users beget more users, who beget more users. They are the inventors, operators, and mechanics of their own self-sustaining and self-propagating growth machine that can take a start-up from nothing to something.

Economics should help us rise above fear and greed. It should not exploit these feelings. Economic science should be about how one turns a social vision into a modern economic system. It should be a tool to create opportunities for human and social development. Not just address our fears as they are expressed as demand in the market. It should be devoted to concrete questions that are important for humanity. Not to abstract analyses of hypothetical choices. It should see people as reasonable beings. Not as wagons hooked to the consequences of an unavoidable, coercive rationality. It should see people as embedded in society. Not as individuals whose core never changes and who float in a vacuum at an arm’s length from each other. It should see relationships as fundamental for us to even be able to individuate ourselves. Not as something that can be reduced to competition, profit, loss, buying low, selling high and calculating who won. It should see a person as someone who acts according to her bonds with others. Not just out of self-interest and the denial of all context and power relationships. It should not see self-interest and altruism as opposites – because it should no longer view the surrounding world as something that is in opposition to one’s self.

With our desire to have more, we find ourselves spending more and more time and energy to manage and maintain everything we have. We try so hard to do this that the things that were supposed to help us end up ruling us. We eventually get used to the new state where our wishes have been fulfilled. We start taking those things for granted and there comes a time when we start getting tired of what we have. We're desperate to convey our own worth, our own value to others. We use objects to tell people just how valuable we are. The objects that are supposed to represent our qualities become our qualities themselves. There are more things to gain from eliminating excess than you might imagine: time, space, freedom and energy. When people say something is impossible, they have already decided that they don't want to do it. Differentiate between things you want and things you need. Leave your unused space empty. These open areas are incredibly useful. They bring us a sense of freedom and keep our minds open to the more important things in life. Memories are wonderful but you won't have room to develop if your attachment to the past is too strong. It's better to cut some of those ties so you can focus on what's important today. Don't get creative when you are trying to discard things. There's no need to stock up. An item chosen with passion represents perfection to us. Things we just happen to pick up, however, are easy candidates for disposal or replacement. As long as we stick to owning things that we really love, we aren't likely to want more. Our homes aren't museum, they don't need collections. When you aren't sure that you really want to part with something, try stowing it away for a while. Larger furniture items with bold colors will in time trigger visual fatigue and then boredom. Discarding things can be wasteful. But the guilt that keeps you from minimizing is the true waste. The real waste is the psychological damage that you accrue from hanging on to things you don't use or need. We find our originality when we own less. When you think about it, it's experience that builds our unique characteristics, not material objects. I've lowered my bar for happiness simply by switching to a tenugui. When even a regular bath towel can make you happy, you'll be able to find happiness almost everywhere. For the minimalist, the objective isn't to reduce, it's to eliminate distractions so they can focus on the things that are truly important. Minimalism is just the beginning. It's a tool. Once you've gone ahead and minimized, it's time to find out what those important things are. Minimalism is built around the idea that there's nothing that you're lacking. You'll spend less time being pushed around by something that you think may be missing. The qualities I look for in the things that I buy are: - the item has a minimalistic kind of shape and is easy to clean - it's color isn't too loud - I'll be able to use it for a long time - it has a simple structure - it's lightweight and compact - it has multiple uses A relaxed moment is not without meaning, it's an important time for reflection. It wasn't the fallen leaves that the lady had been tidying up, it was her own laziness that she had been sweeping away. We are what we repeatedly do. Excellence, then, is not an act but a habit. With daily cleaning, the reward may be the sense of accomplishment and calmness we feel afterward. Cleaning your house is like polishing yourself. Simply by living an organized life, you'll be more invigorated, more confident and like yourself better. Having parted with the bulk of my belongings, I feel true contentment with my day-to-day life. The very act of living brings me joy. When you become a minimalist, you free yourself from all the materialist messages that surround us. All the creative marketing and annoying ads no longer have an effect on you.

The cheerleaders of the new data regime rarely acknowledge the impacts of digital decision-making on poor and working-class people. This myopia is not shared by those lower on the economic hierarchy, who often see themselves as targets rather than beneficiaries of these systems. For example, one day in early 2000, I sat talking to a young mother on welfare about her experiences with technology. When our conversation turned to EBT cards, Dorothy Allen said, “They’re great. Except [Social Services] uses them as a tracking device.” I must have looked shocked, because she explained that her caseworker routinely looked at her purchase records. Poor women are the test subjects for surveillance technology, Dorothy told me. Then she added, “You should pay attention to what happens to us. You’re next.” Dorothy’s insight was prescient. The kind of invasive electronic scrutiny she described has become commonplace across the class spectrum today. Digital tracking and decision-making systems have become routine in policing, political forecasting, marketing, credit reporting, criminal sentencing, business management, finance, and the administration of public programs. As these systems developed in sophistication and reach, I started to hear them described as forces for control, manipulation, and punishment

In the EPJ results, there were two statistically distinguishable groups of experts. The first failed to do better than random guessing, and in their longer-range forecasts even managed to lose to the chimp. The second group beat the chimp, though not by a wide margin, and they still had plenty of reason to be humble. Indeed, they only barely beat simple algorithms like “always predict no change” or “predict the recent rate of change.” Still, however modest their foresight was, they had some. So why did one group do better than the other? It wasn’t whether they had PhDs or access to classified information. Nor was it what they thought—whether they were liberals or conservatives, optimists or pessimists. The critical factor was how they thought. One group tended to organize their thinking around Big Ideas, although they didn’t agree on which Big Ideas were true or false. Some were environmental doomsters (“We’re running out of everything”); others were cornucopian boomsters (“We can find cost-effective substitutes for everything”). Some were socialists (who favored state control of the commanding heights of the economy); others were free-market fundamentalists (who wanted to minimize regulation). As ideologically diverse as they were, they were united by the fact that their thinking was so ideological. They sought to squeeze complex problems into the preferred cause-effect templates and treated what did not fit as irrelevant distractions. Allergic to wishy-washy answers, they kept pushing their analyses to the limit (and then some), using terms like “furthermore” and “moreover” while piling up reasons why they were right and others wrong. As a result, they were unusually confident and likelier to declare things “impossible” or “certain.” Committed to their conclusions, they were reluctant to change their minds even when their predictions clearly failed. They would tell us, “Just wait.” The other group consisted of more pragmatic experts who drew on many analytical tools, with the choice of tool hinging on the particular problem they faced. These experts gathered as much information from as many sources as they could. When thinking, they often shifted mental gears, sprinkling their speech with transition markers such as “however,” “but,” “although,” and “on the other hand.” They talked about possibilities and probabilities, not certainties. And while no one likes to say “I was wrong,” these experts more readily admitted it and changed their minds. Decades ago, the philosopher Isaiah Berlin wrote a much-acclaimed but rarely read essay that compared the styles of thinking of great authors through the ages. To organize his observations, he drew on a scrap of 2,500-year-old Greek poetry attributed to the warrior-poet Archilochus: “The fox knows many things but the hedgehog knows one big thing.” No one will ever know whether Archilochus was on the side of the fox or the hedgehog but Berlin favored foxes. I felt no need to take sides. I just liked the metaphor because it captured something deep in my data. I dubbed the Big Idea experts “hedgehogs” and the more eclectic experts “foxes.” Foxes beat hedgehogs. And the foxes didn’t just win by acting like chickens, playing it safe with 60% and 70% forecasts where hedgehogs boldly went with 90% and 100%. Foxes beat hedgehogs on both calibration and resolution. Foxes had real foresight. Hedgehogs didn’t.

The fragility of the US economy had nearly destroyed him. It wasn't enough that Citadel's walls were as strong and impenetrable as the name implied; the economy itself needed to be just as solid. Over the next decade, he endeavored to place Citadel at the center of the equity markets, using his company's superiority in math and technology to tie trading to information flow. Citadel Securities, the trading and market-making division of his company, which he'd founded back in 2003, grew by leaps and bounds as he took advantage of his 'algorithmic'-driven abilities to read 'ahead of the market.' Because he could predict where trades were heading faster and better than anyone else, he could outcompete larger banks for trading volume, offering better rates while still capturing immense profits on the spreads between buys and sells. In 2005, the SEC had passed regulations that forced brokers to seek out middlemen like Citadel who could provide the most savings to their customers; in part because of this move by the SEC, Ken's outfit was able to grow into the most effective, and thus dominant, middleman for trading — and especially for retail traders, who were proliferating in tune to the numerous online brokerages sprouting up in the decade after 2008. Citadel Securities reached scale before the bigger banks even knew what had hit them; and once Citadel was at scale, it became impossible for anyone else to compete. Citadel's efficiency, and its ability to make billions off the minute spreads between bids and asks — multiplied by millions upon millions of trades — made companies like Robinhood, with its zero fees, possible. Citadel could profit by being the most efficient and cheapest market maker on the Street. Robinhood could profit by offering zero fees to its users. And the retail traders, on their couches and in their kitchens and in their dorm rooms, profited because they could now trade stocks with the same tools as their Wall Street counterparts.

[A] central theme is why social, political, and economic institutions tend to coevolve in a manner that reinforces rather than undermines one another. The welfare state is not 'politics against markets,' as commonly assumed, but politics with markets. Although it is popular to think that markets, especially global ones, interfere with the welfare state, and vice versa, this notion is simply inconsistent with the postwar record of actual welfare state development. The United States, which has a comparatively small welfare state and flexible labor markets, has performed well in terms of jobs and growth during the past two decades; however, before then the countries with the largest welfare states and the most heavily regulated labor markets exceeded those in the United States on almost any gauge of economic competitiveness and performance. Despite the change in economic fortunes, the relationship between social protection and product market strategies continues to hold. Northern Europe and Japan still dominate high-quality markets for machine tools and consumer durables, whereas the United States dominates software, biotech, and other high-tech industries. There is every reason that firms and governments will try to preserve the institutions that give rise to these comparative advantages, and here the social protection system (broadly construed to include job security and protection through the industrial relations system) plays a key role. The reason is that social insurance shapes the incentives workers and firms have for investing in particular types of skills, and skills are critical for competitive advantage in human-capital-intensive economies. Firms do not develop competitive advantages in spite of systems of social protection, but because of it. Continuing this line of argument, the changing economic fortunes of different welfare production regimes probably has very little to do with growing competitive pressure from the international economy. To the contrary, it will be argued in Chapter 6 that the main problem for Europe is the growing reliance on services that have traditionally been closed to trade. In particular, labor-intensive, low-productivity jobs do not thrive in the context of high social protection and intensive labor-market regulation, and without international trade, countries cannot specialize in high value-added services. Lack of international trade and competition, therefore, not the growth of these, is the cause of current employment problems in high-protection countries.