I own a widget company, and I employ 1 man at 10 dollars a year, and he puts out 100 widgets in a year.
I replace him with a widget machine that requires 2 men ... 1 programmer at 20 dollars a year, and one skilled widget machine operator at 20 dollars a year.
But, now I'm outputting 1000 widgets per year. Labor costs increased 4 fold, but efficiency increased 10 fold.
The reason it's bad wording is that, really, labor costs per unit actually went down ... where maybe he's calling that 'efficiency' ... and saying absolute labor costs rose. But no thinking businessman would think of it that way, assuming that's what he's getting at.
Re: America -> the free-er we are, the more we will kick ass. It is impossible to say what's next, new inventions, new paradigms. Every generation is trapped in their own paradigm, and can only envision 'more-better-faster' but along the same continuum they inhabit.
All that matters is freedom, that is why this was such a GLORIOUS, BEAUTIFUL, BEST ELECTION EVER!!!!!!!!
Mankind is at his best when free. Governments didn't invent economies ... it's the name we give to what men always did. Then governments wrote laws controlling economies and claimed economies wouldn't exist if not for governments ... that 'they created jobs'. Horsesh*t!!!!!
Every few days now it hits me that we aren't living under a dark cloud, where the leader of our country is against everything our country is actually about. It's so nice ... haven't quite grown accustomed to it yet.
I did however pick up 2 'Madame President' newsweeks on EBay today. Couldn't resist - the articles in it are hilarious. Woooohoooooooo!!!!!!!!!!!
Yeah, this is the point that Sundance didn’t articulate well. Freedom wins. We can’t explain how, but it does. It’s been shown through American history.
Listening to The Wright Brothers this week on my commute. It’s an audiobook by David McCullough.
And you’d think there wouldn’t be much to say, but he weaves an incredible story around Wilbur and Orville. I’m only on CD two of eight and they are already building something in Kitty Hawk, so I’m not sure how he can keep the story going that long, but he does.
And isn’t America like that. Just when you think innovation’s finished, it begins anew.
We’re in for an exciting period ahead. For the last 20 years, our country has been wasting all its pent up energy driving at 20 miles per hour. But now with leadership and people motivated to pull together, there’s a lot of hope for the future.
You can sense it. I remember how Obama tried to communicate with the American people after he got into office. That lasted a couple weeks only and he went into hiding because he wasn’t really a communicator or true leader.
Hey, great idea picking up those Newsweeks! That’s going to be a good memory.
And I keep going back to the article we collaborated on about the wall. Save that memory too.