Showing posts with label economics. Show all posts
Showing posts with label economics. Show all posts
Tuesday, May 26, 2009
Tuesday, April 21, 2009
Newspaper industry
In the US, the newspaper industry is dying. I am not sure how the business needs to change to become profitable again.
http://www.time.com/time/business/article/0,8599,1892831,00.html?xid=rss-biztech-yahoo
http://www.time.com/time/business/article/0,8599,1892831,00.html?xid=rss-biztech-yahoo
Thursday, March 12, 2009
1990 talk by Louis O. Kelso - The Next Step in Human Advancement: Economic Democracy
http://www.kelsoinstitute.org/lectures-nextstep.html
Excerpt -
1. Get a good job.
2. Work hard, do the best you can to be a credit to your family and to your country.
3. Live modestly in order to save as much as you can to educate your children and to support yourself and your family after retirement.
As far as it goes, this is still good advice for young people, but it is based on the idea that the only way to earn a living is by getting and keeping a job - in other words, by performing labor work. That idea is obsolete.
In the post-industrial era, there is another way:
1. Now most goods and services are produced, and incomes earned, by people working through their personally-owned capital.
2. Only through capital ownership can you engage in production and earn income after you leave the labor market because of age, illness, or business failure.
3. The one thing we do not tell young people who are entering the economic world is what you most need to know: how to acquire capital.
Excerpt -
If what I have said this morning is true, as I believe it is, then the traditional advice to graduates, good though it is, is no longer adequate.The traditional advice is:
1. Get a good job.
2. Work hard, do the best you can to be a credit to your family and to your country.
3. Live modestly in order to save as much as you can to educate your children and to support yourself and your family after retirement.
As far as it goes, this is still good advice for young people, but it is based on the idea that the only way to earn a living is by getting and keeping a job - in other words, by performing labor work. That idea is obsolete.
In the post-industrial era, there is another way:
1. Now most goods and services are produced, and incomes earned, by people working through their personally-owned capital.
2. Only through capital ownership can you engage in production and earn income after you leave the labor market because of age, illness, or business failure.
3. The one thing we do not tell young people who are entering the economic world is what you most need to know: how to acquire capital.
Wednesday, March 4, 2009
Thursday, February 26, 2009
House of Cards
http://www.reuters.com/article/newsOne/idUSTRE51N35220090224?pageNumber=2&virtualBrandChannel=10112
"The evidence is overwhelming: This was a series of conscious decisions about what kind of firms they wanted to be, decisions made without consideration for their ramifications," said William Cohan, a former investment banker who has written "House of Cards," a soon-to-be published book about the credit crisis.
"The evidence is overwhelming: This was a series of conscious decisions about what kind of firms they wanted to be, decisions made without consideration for their ramifications," said William Cohan, a former investment banker who has written "House of Cards," a soon-to-be published book about the credit crisis.
“The Case for Goliath.”
http://www.nytimes.com/2009/02/25/opinion/25friedman.html?em
Never more inward-looking, never more in demand: that’s America today. This moment recalls a point raised by the Johns Hopkins University foreign policy expert Michael Mandelbaum in his book, “The Case for Goliath.” When it comes to the way other countries view America’s pre-eminent role in the world, he wrote, “whatever its life span, three things can be safely predicted: they will not pay for it; they will continue to criticize it; and they will miss it when it is gone.”
Never more inward-looking, never more in demand: that’s America today. This moment recalls a point raised by the Johns Hopkins University foreign policy expert Michael Mandelbaum in his book, “The Case for Goliath.” When it comes to the way other countries view America’s pre-eminent role in the world, he wrote, “whatever its life span, three things can be safely predicted: they will not pay for it; they will continue to criticize it; and they will miss it when it is gone.”
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