Today in Capitalism 2.0
1. Skilled immigrants are leaving the States. Why? The reason isn't money: it's meaning:
"The position will pay a fraction of the salary he had been earning in the private sectorâ€”about $15,000 compared with $100,000â€”but it will offer considerably more job security and the freedom to do the exploratory research he wants to do"
Like I keep saying: what's missing from Capitalism 1.0 is meaning.
2. The only graph you need to see about healthcare reform.
3. The big problem with econ is a lack of ethics.
Krugman in 2000:
"...You may say that the wretched of the earth should not be forced to serve as hewers of wood, drawers of water, and sewers of sneakers for the affluent. But what is the alternative?"
This is the same logic that Krugman doesn't
apply to the wretched of the USA. Now that the Great Compression is underway, it's clear that our own Ponzi sweatshop zombieconomy created little real value.
4. Rehab? Are you kidding me? What rehab? Did I miss meaningful reform? Is this not the same world where Goldman just booked record profits for the same old shell game masquerading as real value creation?
You can't rehabilitate Zombies.
Resident Evil wasn't won by Medicines Sans Frontieres.
5. Can the Kindle improve on the book? Wrong (way wrong) question. Right question: can the Kindle alter incentives so publishers no longer churn out the myopic, disposable fluff that's destroyed the book "industry"? Can Bezos create incentives for the production of, well, real books once again - the kind that lead to sustainable profitability? Can the Kindle reignite a moribund industry?
The question is not one of product innovation - but of institutional innovation.
6. Context is king.
Everywhere, even in fashion (though the NYT should have written about the awesome Polyvore a long time ago).
7. Just for the fun of it, a golden oldie of um massive unnovation.
6. Does Iceland tell us that failure is the best answer to crisis? Yup. Too big to fail is also too fail to recover.
Another day, another dollar in the Zombieconomy.