The Need For State-Based Innovation
Politicians and pundits constantly call for the government to step out of the way and let entrepreneurs and “job creators” build the industries of the future. New Left Project argues that this current conventional wisdom is all wrong, and more often than not, game-changing innovation is funded by the government, not the private sector:
The current debate, in the UK and abroad, on the need to cut back the state in order to unleash the power of entrepreneurship and innovation in the private sector, builds upon a stark contrast that is repeatedly drawn by the media, business and libertarian politicians: a dynamic, creative competitive private sector versus a sluggish, bureaucratic, inert, `meddling’ public sector.
It is assumed that the private sector is inherently more innovative, more able to think out of the `box’ and to lead a country towards long-run innovation-led growth. But many examples in the history of innovation, entrepreneurship and competition,…
No More Taco Bell Until Abortion Ends (Video)
Site editor’s note: if you have been following this political/internet/media explosion you may find this recent story posted to disinfo.com in December as an interesting footnote to the outcome.
These people will enjoy no more burritos until unborn babies are no longer terminated. Until Abortion Ends is a perplexing and to some extent inadvertently amusing trend in which people pledge to give up various things “until abortion ends”. (Although I assume they actually mean “until abortion becomes criminalized”.)
Why Mitt Romney Likes Firing People (Video)
There’s plenty of hub-bub on the internets about Mitt Romney saying he “likes firing people.” He’s what Mr. “Corporations Are People” said in a longer clip below and an article from Suzanne Lucas on CBS News that likely explains his thinking:
The presidential election is just one big job interview, so it makes sense that as long as we’re talking about hiring, we should talk about firing. Mitt Romney recently said: “I like being able to fire people who provide services to me. If someone doesn’t give me the good service I need, I’m going to go get somebody else to provide that service to me.” Horrifying, right? How on earth could any human being like firing anyone? Well, to be fair, he didn’t say he liked firing anyone. He said he liked being able to fire someone. And so do you. You do it all the time.
This 28-Year-Old Wants to Kill Credit Card Use
Alyson Shontell reports in Business Insider:
There’s a tiny 12-person startup churning out of Des Moines, Iowa. Dwolla was founded by 28-year-old Ben Milne; it’s an innovative online payment system that sidesteps credit cards completely.
Milne has no finance background, yet his little operation is moving between $30 and $50 million per month; it’s on track to move more than $350 million in the next year. Unlike PayPal, Dwolla doesn’t take a percentage of the transaction. It only asks for $0.25 whether it’s moving $1 or $1,000.
We interviewed Milne about how he is building a credit card killer and Square rival from the middle of the nation where VCs and press are scarce.
Congress Starts Pushing an Online Sales Tax
Ten U.S. Senators are now proposing a “Marketplace Fairness Act,” which creates a new system letting states collect sales taxes from purchases made online. “It’s about closing a tax loophole,” said Senator Lamar Alexander, part of a bipartisan coalition which has already introduced similar legislation in the House of Representatives.
Strangely, Amazon has just issued a press release saying they support the bill, calling it “a win-win resolution,” according to one Kindle blog, though they may just be hoping to lobby for exemptions from each individual state.
“Instead of a national sales tax, these new taxes will only be imposed at the individual discretion of each separate state legislature, and that’s an area where multi-billion dollar companies like Amazon can still exert a lot of pressure.
What’s The Real Reason Why The Occupy Wall Street Protesters Weren’t Kicked Out Of Zuccotti Park?
Zuccotti Park, pre-Occupation. Photo: Tony (CC)
Is this it? Robert Johnson writes in Business Insider:
Coming on the heels of the Solyndra debacle, the Obama administration has just approved a $168.9 million loan guarantee for the Granite Reliable wind farm project owned by Brookfield Management BAM).
Among its many holdings BAM owns Brookfield Renewable Power, which owns the Granite Reliable and it also owns Brookfield Office Properties, whose holdings include the now famous Zuccotti Park.
The Department of Energy finalized the loan guarantee less than a week after Occupy Wall Street protesters took to Zuccotti Park, and with the Obama administration’s Tuesday endorsement of the protests, rumors are starting to circulate that this could be the reason Brookfield is allowing protesters to remain on its property.
Bloomberg Exposes Koch Brothers
The radical commies at Bloomberg have published a sweeping expose of the Tea Party-funding behemoth Koch Industries, claiming that standard practice at the company includes bribing government officials around the world, secretly selling technology to Iran, and general contempt for the legal and ethical constraints by which people normally operate:
In May 2008, a unit of Koch Industries Inc., one of the world’s largest privately held companies, sent Ludmila Egorova-Farines, its newly hired compliance officer and ethics manager, to investigate the management of a subsidiary in Arles in southern France. In less than a week, she discovered that the company had paid bribes to win contracts.
“I uncovered the practices within a few days,” Egorova- Farines says. “They were not hidden at all.”
She immediately notified her supervisors in the U.S. A week later, Wichita, Kansas-based Koch Industries dispatched an investigative team to look into her findings, Bloomberg Markets magazine reports in its November…
The Mythology of Business Part 2: The Dark Side
This is Part 2 of an excerpted series for Reality Sandwich from the anthology The Immanence of Myth published by Weaponized. Read Part 1 here.
Despite the exciting creative possibilities posed by new media in regard to myth, they do not come without a price. The danger presented by the presence of myth in modern media is paramount, and must be considered outside the mythic framework of industry, for instance, which reduces the material world to a matrix of profit and risk.
Though the propaganda of fascist mythologies such as those of Nazis or the USSR serve as the clearest example of these dangers, they exist in only slightly more subtle forms in the media produced by modern capitalist states. (Subtlety in this case not being an indicator of benevolence, necessarily.) After all, it was Mussolini who declared fascism to be the merger of state and corporate power.
Though media is ostensibly the watchdog of the government, both…
Monsanto Corn Falls to Illinois Bugs
Tom Philpott writes in Mother Jones:
As the summer growing season draws to a close, 2011 is emerging as the year of the super-insect — the year pests officially developed resistance to Monsanto’s genetically engineered (ostensibly) bug-killing corn.
While the revelation has given rise to alarming headlines, neither Monsanto nor the EPA, which regulates pesticides and pesticide-infused crops, can credibly claim surprise. Scientists have been warning that the EPA’s rules for planting the crop were too lax to prevent resistance since before the agency approved the crop in 2003. And in 2008, research funded by Monsanto itself showed that resistance was an obvious danger.
And now those unheeded warnings are proving prescient. In late July, as I reported recently, scientists in Iowa documented the existence of corn rootworms (a ravenous pest that attacks the roots of corn plants) that can happily devour corn plants that were genetically tweaked specifically to kill them. Monsanto’s corn,…
The Men Who Crashed The World
In a fantastic new series called Meltdown, Al Jazeera looks at the people and machinations around the globe that were behind the financial collapse of 2008, beginning with the assertion that for a brief period, Henry Paulson “was the de facto president of the United States.”
Evolution of Narcissism: Why We’re Overconfident and Why It Works
David and Goliath, Osmar Schindler (c. 1888)
Christine Dell’Amore writes in National Geographic:
For years, psychologists have observed that people routinely overestimate their abilities, said study leader Dominic Johnson, an evolutionary biologist at the University of Edinburgh in Scotland.
Some experts have suggested that overconfidence can be a good thing, perhaps by boosting ambition, resolve, and other traits, creating self-fulfilling prophecies.
But positive self-delusion can also lead to faulty assessments, unrealistic expectations, and hazardous decisions, according to the study — making it a mystery why overconfidence remains a key human trait despite thousands of years of natural selection, which typically weeds out harmful traits over generations.
Now, new computer simulations show that a false sense of optimism, whether when deciding to go to war or investing in a new stock, can often improve your chances of winning.
“There hasn’t been a good explanation for why we are overconfident, and this new model offers a kind of…
Bank of America Hands Out 30,000 Pink Slips To Boost Profits
Aaron Cynic writes at Diatribe Media:
Bank of America announced it would send 30,000 more people to the unemployment line in a massive layoff in the hopes of cutting costs. The majority of people cut would be those working in data centers and deposit systems, according to reports from Bloomberg.
The layoffs are part of a plan by CEO Brian T. Moynihan, who wishes to cut $5 billion in annual costs in order to bolster the bank’s profits and stock:
“Profit is under pressure mainly because of losses, legal costs and writedowns tied to the 2008 takeover of subprime lender Countrywide Financial Corp. At the same time, revenue is shrinking as the U.S. economy slows. Moynihan has said that because the bank is one of the biggest consumer lenders, its fortunes are closely tied to home prices and the jobless rate.”
According to some admittedly unscientific data, the average salary for a Bank of America job is probably…
So Who Really Runs The World? A Network Analysis Reveals ‘Super Entity’ of Global Corporate Control …
An outline of the adversary emerges from Michael Ricciardi on PlanetSave:
In the first such analysis ever conducted, Swiss economic researchers have conducted a global network analysis of the most powerful transnational corporations (TNCs). Their results have revealed a core of 787 firms with control of 80% of this network, and a “super entity” comprised of 147 corporations that have a controlling interest in 40% of the network’s TNCs.
When we hear conspiracy theorist talk about this or that powerful group (or alliance of said groups) “pulling strings” behind the scenes, we tend to dismiss or minimize such claims, even though, deep down, we may suspect that there’s some degree of truth to it, however distorted by the theorists’ slightly paranoid perception of the world. But perhaps our tendency to dismiss such claims as exaggerations (at best) comes from our inability to get even a slight grip on the complexity of global…
Gibson Guitars Vs. the U.S. Government
Via Brooklyn Vegan and Gibson.com:
The Federal Department of Justice in Washington, D.C. has suggested that the use of wood from India that is not finished by Indian workers is illegal, not because of U.S. law, but because it is the Justice Department’s interpretation of a law in India. (If the same wood from the same tree was finished by Indian workers, the material would be legal.) This action was taken without the support and consent of the government in India.
On August 24, 2011, around 8:45 a.m. CDT, agents for the federal government executed four search warrants on Gibson’s facilities in Nashville and Memphis and seized several pallets of wood, electronic files and guitars. Gibson had to cease its manufacturing operations and send workers home for the day, while armed agents executed the search warrants. Gibson has fully cooperated with the execution of the search warrants.
Ikea Used Political Prisoners As Slave Labor
Photo: Alexander Kaiser (CC)
Like many global companies mass producing goods, Ikea has a past of unjust labor. The Telegraph reports:
Ikea developed strong links with the communist state in the 1970s, opening a number of manufacturing facilities, one of which, according to Stasi records discovered by German television company WDR, used political prisoners to construct sofas.
The factory in Waldheim stood next to a prison, and inmates were used as unpaid labour, it is claimed. Gaols in the Democratic Republic housed significant numbers of political prisoners, with some estimates indicating they made up at least 20 per cent of the entire prison population.
Quoted in a Stasi file, Ingvar Kamprad, Ikea’s founder, said while he had no official knowledge of the use of prison labour, if it did indeed exist “in the opinion of Ikea it would be in society’s interests.”
[Continues at The Telegraph]
Niger Delta Villagers Vs. Oil Giant Shell’s Destruction of Their Land
Once again, unregulated Big Business makes everything better. John Vidal writes in the Guardian:
Goi is now a dead village. The two fish ponds, bakery and chicken farm that used to be the pride and joy of its chief deacon, Barrisa Tete Dooh, lie abandoned, covered in a thick black layer. The village’s fishing creek is contaminated; the school has been looted; the mangrove forests are coated in bitumen and everyone has left, refugees from a place blighted by the exploitation of the region’s most valuable asset: crude oil.
A long-awaited and comprehensive UN study exposed the full horror of the pollution that the production of oil has brought to Ogoniland over the last 50 years.
The UN report showed that oil companies and the Nigerian government had not just failed to meet their own standards, but that the process of investigation, reporting and clean-up was deeply flawed in favour of the firms…
Will Bookstores Boycott Amazon-Published Books?
Amazon has begun signing their own authors and then publishing the books themselves, leaving booksellers “wary” as Amazon “tries to have it all,” according to a Boston newspaper. The co-owner of an independent bookstore near Cambridge considered boycotting Amazon’s new line of books, complaining “They are a huge competitor, and they don’t collect sales tax, giving them an unfair advantage.”
A children’s bookstore noted that “the pie is getting cut into fewer pieces. I’d be nervous if I were an adult book publisher.” Borders bookstore has already declared bankruptcy, leaving The Daily Show to joke that bookstores should simply become “digital downloading” stations — or a “living history” museum where future generations can learn what “a magazine rack” was.”
Mythology of Business Part 1: The Veil of Ignorance
This is part 1 of an excerpted series for Reality Sandwich from the anthology The Immanence of Myth published by Weaponized.
Myth’s central importance does not end with our art or religions. It is not solely a dusty world of broken clay pots and tablets written in dead languages. Our myths determine how we engage with the world, how we enter into it. How we treat ourselves and one another. Far from being archaic relics of the past, myths will determine our future. Even if we are unaware of them, they will continue to affect us.
The advertising used to disseminate films, books and music shows the profound value that mythology has within modern markets. You just need to know what you’re looking for. However, it does not end with the entertainment industry. A brand, any brand in an increasingly interactive media environment, is myth.
This role is made all the more pervasive thanks to the…
My Eight Hours of Hell in a Content Farm
Stacie Adams writes on the Nervous Breakdown:
I was a copy writer for about eight hours this week. I was employed by a content farm. I would produce weekly blogs for clients at about $15 a pop. After I established myself as a viable content farmer I would be given larger assignments, at $50 to $75 per piece. You can see where this is going. My first assignment was sort of a test run, to see if I was up to it. I had to produce roughly 300 hundred words on hair extensions. Hair. Extensions. … Here’s how that turned out:
Most famous celebrity haircuts for men
The Bieber – I propose we start calling this one ‘The Skywalker’ because that’s really how it all started. Want yourself a Bieber? Just swear off hair cuts for about six months or so. Every man has had a Bieber, whether intentional or not.
The Clooney –…
