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By enriching the carbon-dioxide content of the atmosphere from its impoverished pre-industrial levels, human beings have increased the productivity of the entire biosphere - so much so that roughly one out of every seven living things on the planet owes its existence to the marvelous improvement in nature that humans have effected.
For acquiring companies, the excitement is almost always about where they are going - that is, their strategy for gaining greater growth and productivity. But when mergers fail, it's often because no one focused on who they are - that is, their culture, which is critical to successfully bringing different groups of people together.
During the last two centuries, there have been many deflations throughout the world. Almost all of them have been good ones precipitated by technological innovation, rising productivity, global capital flows, and sustained economic growth. If farm mechanization cuts the price of wheat, you get a rising living standard. This is good.
I remember working with a guy named Andrew Braccia at Yahoo, and Yahoo was the company that bought Flickr. Everyone on his team was hard working and reliable, did what they said they were going to do, on top of everything, and seemed to be operating at this level of productivity and effectiveness that I found difficult to manage to.
I believe in an America in which the fruits of productivity and prosperity are shared by all, by workers as well as owners, by those at the bottom as well as those at the top; an America in which the sacrifices required by national security are shared by all, by profiteers in the back offices as well as volunteers on the front lines.
The promoters of big data would like us to believe that behind the lines of code and vast databases lie objective and universal insights into patterns of human behavior, be it consumer spending, criminal or terrorist acts, healthy habits, or employee productivity. But many big-data evangelists avoid taking a hard look at the weaknesses.
The cost of the vaccine is truly minuscule when you think about the benefits you're getting from an opportunity-cost standpoint. If you're going to miss several days of work - and you will - with high fevers, body aches, nausea, and vomiting... you're going to be losing out on a lot more money and productivity if you don't get the flu shot.
One day, when the world market is more or less fully developed and can no longer be suddenly enlarged, and if labour productivity continues to advance, then sooner or later the periodic clashes between productive forces and market barriers will begin, and because of their recurrence, these will naturally become increasingly rough and stormy.