2014

2013

2012

In 47 of America’s fine states, if you want to accept people’s money in order to give them advice on decorating and other people want to pay you to give advice on decorating, then congratulations-you’re an interior decorator. In the other three states, and the District of Columbia, you need undergo 2,190 hours of training and apprenticeship and pass an exam before practicing. This, of course, is why homes in DC are wildly better-decorated than the homes in the Maryland and Virginia suburbs or in other large American cities such as New York, Los Angeles, Chicago, Boston, Dallas, and Philadelphia. Except of course that’s not true.

Opposition to the bailout was driven, in part, by the recognition that nationalization of an industrial enterprise is an open invitation to mismanagement and bad public policy. You could easily imagine a scenario in which the Obama administration made its partisan political objectives a key management priority at Government Motors. Alternatively, you could easily imagine a scenario in which Obama administration trade policy became dominated by the narrow interests of Government Motors rather than the broad interests of the American public. There’s a good reason why sensible people don’t normally recommend that the government own manufacturing companies. But these bad things didn’t happen, and given the total lack of private financing for anything at the time the alternative was liquidation rather than reorganization. I think it’s very understandable that Obama’s political foes were not prepared at the time to simply assume that the administration was handle a post-nationalization auto industry in a responsible way.

The real workforce of Facebook is all the people who are creating Facebook content. That’s closer to 800 million people (roughly their user base) than to 3,000 people (roughly their number of employees). There’s nothing new about medica companies getting people to produce content for free (that’s what the letters to the editor page or comments section is) but Facebook has built the most amazing vehicle for the appropriation of surplus value that the world has ever known. Ergo its stunning profits and amazing ratio of market capitalization to formal employees.