“The trouble with blaming powerless people is that although it's not nearly as scary as blaming the powerful, it does miss the point. Poor people do not shut down factories... Poor people didn't decide to use 'contract employees' because they cost less and don't get any benefits.” PeopleDoeUsePoorPowerfulTroubleMissingCostBenefitsBlameScaryEmployeeContractsFactoriesPowerlessPoor People Book:You Got to Dance with Them What Brung You Source: You Got to Dance with Them What Brung You
“Thus a new way of finding fluidity will inevitably be imposed on management and labor alike. The profit-sharing, or "progress" sharing union contract is the only possible way of satisfying labor and the consumer without saddling industry with fixed costs that in depression periods can kill off marginal companies like flies.” WayWisdomPoliticsCompanyEconomyProgressIndustryPeriodsCostFindingsLaborManagementUnionsProfitConsumersFixedLiberalismContractsSatisfyingNew WaysFluidityProfit Sharing Author:John Chamberlain
“Weight loss programs and health clubs have an ethical and legal obligation to adequately disclose details about program costs before customers sign a contract. They should also clearly explain how the program works and what is expected so that consumers can make an informed choice whether to join.” ShouldChoicesLossCostProgramWeightDetailsClubsCustomersExpectedObligationConsumersEthicalContractsWeight Loss Author:Bill Vaughan
“The government can always rescue the markets or interfere with contract law whenever it deems convenient with little or no apparent cost. (Investors believe this now and, worse still, the government believes it as well. We are probably doomed to a lasting legacy of government tampering with financial markets and the economy, which is likely to create the mother of all moral hazards. The government is blissfully unaware of the wisdom of Friedrich Hayek: "The curious task of economics is to demonstrate to men how little they really know about what they imagine they can design.")” KnowsMenBelieveWellsLittlesStillsGovernmentLawMotherMoralEconomyImagineDesignCostEconomicsTasksFinancialCuriousLegacyLastingContractsInvestorsRescueInterfereDoomedConvenientHazardsFinancial MarketsHayekFriedrich HayekLasting LegacyMoral Hazard Author:Seth Klarman
“Specifically in reference to Iran, Donald Trump will not be able to renegotiate the nuclear arms pact. His attempt to do so will alienate all the European powers involved and will cost a number of US companies some very lucrative contracts. It is a losing proposition for him and for the US. Much more so than for Iran, who will turn more and more to Russia and China as trading partners.” AbleTurnsNumbersCompanyArmsTrumpInvolvedCostLosingChinaNuclearPartnersRussiaIranContractsPropositionsTradingPactNuclear ArmsTrading Partners Author:Lawrence Davidson