American - Journalist | April 30, 1967 -
Developing countries often have hypertrophied bureaucracies, requiring businesses to deal with enormous amounts of red tape.
James Surowiecki
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Being unemployed is even more disastrous for individuals than you'd expect. Aside from the obvious harm - poverty, difficulty paying off debts - it seems to directly affect people's health, particularly that of older workers.
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Being out of a job can erode people's confidence and their sense of possibility; and employers, often unfairly, tend to take long-term unemployment as a signal that something is wrong.
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A long-term crisis, after a certain point, no longer seems like a crisis. It seems like the way things are.
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Of course, politicians always say they're just describing their opponents' positions, even if they are in fact offering absurd caricatures, if not outright lies.
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Technological innovation has dramatically lowered the cost of computing, making it possible for large numbers of consumers to own powerful new technologies at reasonably low prices.
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If private-equity firms are as good at remaking companies as they claim, they don't need tax loopholes to make money.
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Solyndra's failure isn't a reason for the government to give up on alternative energy, any more than the failure of Pets.com during the Internet bubble means that venture capital should steer clear of tech projects.
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Steve Jobs was rare: a C.E.O. who actually had a huge impact on his company's fortunes. Contrary to corporate mythology, most C.E.O.s could be easily replaced, if not by your average Joe, then by your average executive vice-president. But Jobs genuinely earned the label of superstar.
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The paradox of Steve Jobs's career is that he had no interest in listening to consumers - he was famously dismissive of market research - yet nonetheless had an amazing sense of what consumers actually wanted.
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The truth is that the United States doesn't need, and shouldn't have, a debt ceiling. Every other democratic country, with the exception of Denmark, does fine without one.
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There's no debt limit in the Constitution.
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