Matt Yglesias is a curious fellow. Yesterday he wrote, Post-Ballmer Microsoft Announces Plan To Become Much Lamer. By “lamer” he means that instead of doing something interesting with its cash flow, Microsoft is doing a stock buyback and paying more dividends. Instead, he thinks that Microsoft should find a way to “elbow into new markets.” He admits that this has not worked out all that well for the company over the past few years, but that it has been really good for the industry and for the world.
This is an argument that Yglesias has to make every couple of weeks. I think it’s like Tourette syndrome or something, because it doesn’t make sense. Capitalism doesn’t work by having companies do what is best for everyone. The idea instead is that everyone tries to do what is best for themselves and given time, it will end up that everyone does better. It is ridiculous to call for companies to do anything but look out for their own best interests. And Yglesias must know this.
I get into this argument a lot, especially with conservatives. Most liberals understand that companies are not going to, for example, pay higher wages out of the goodness of their hearts, even though it might be better for the economy as a whole. This goes right along with liberal thinking about the need for rules and regulations in the market. Conservatives, on the other hand, are generally more outraged when they see companies taking advantage of employees or exploiting loopholes. And strangely, this allows conservatives to maintain their belief in not regulating businesses. The idea is that businesses will do what’s right if government just “gets out of the way.” But that is not how capitalism works nor is it the way we should want it to work.
Now, Matt Yglesias is not a conservative. But he does have a distinctly pro-market bias. Of course, so do I! So I don’t really understand where he’s coming for. When he was earlier saying that Apple ought to reduce its huge profit margin on the iPhone, at least he had a business strategy. He claimed that Apple could destroy the smartphone competition. But in the case of Microsoft, he admits that doing what is best for the consumer market has not been good for Microsoft. So why should they do it? Microsoft is not in the business of making the lives of people better; it is in the business of making money.
Over thousands of years, we have seen that expecting businesses to do what is best for the society at large is a vain hope. And I think loose talk by people like Yglesias is quite harmful. It perpetuates the myth that businesses do something other than relentlessly pursue profits. And that gives people all kinds of strange ideas like “trickle down” economics. “Once the companies are profitable enough, they will raise wages!” No, not really. Have the incredible profit margins that Apple makes caused them to move production to the United States? Have they caused them to invest more money in R&D? Have they done anything other than allow the company to pile up more and more money? No. No. No.
We need to manage the economy so it works better for the society at large. Markets really are helpful in distributing the resources of an economy. But left to itself, the economy doesn’t function well even for the richest people. We must get past the notion that businesses are going to do what’s right by the people. They won’t and we should expect them to.
What if the United States government shutdown and the House Republicans didn’t care? I mean, really: even after a month they didn’t care. They thought it was great! Maybe it would be a good chance to shake up those 47% senior citizens living the easy life with their $1,000 monthly pensions! I really do wonder, because now a government shutdown seems all but inevitable. And I’ve begun to wonder if I wasn’t wrong before about it quickly resolving itself.
If I had to name the greatest songwriter of the 20th century, it would be Chuck Berry. But the second best would have to go to
I just watched the end of today’s Special Report with Bret Baier. For those not familiar, the show ends with a discussion amongst commentators. The star is Charles Krauthammer. And it is clear why he is such a big deal among conservatives. Compared to the knee jerk Obama haters, he comes off like a fucking sage. Baier himself stays above the fray. This allows him to say, at the end of show, immediately after the commentators, “That’s Special Report for this time, please tune us in next time, and in the meantime, more news is on the way—fair, balanced and unafraid.”
If America has the seeds of home grown terrorism, it is not in the form of radicalized Muslims. It is in the form of our gun culture—specifically, those at the far edge of it; those who consider themselves “libertarian” and “constitutionalist.” I don’t see there being any problem with your average guy who likes to enjoy nature by killing the animals in it. That’s a thing that people like to do. I don’t get it, but I sort of see the way it works. It is like dogs chasing after cats. Dogs don’t hate cats, but it is fun to chase after things that are hard to catch. That’s the basis of most video games. When it comes to American gun culture, that is the vast majority.
This morning, Paul Krugman posted an article, 

I know that not all conservatives are racist. And not all racists are conservative. But it’s fair to say that most racists are conservative. What’s more, if it weren’t for white racial resentment, Republicans would not be an important force in national politics. And I understand: we all have our demons—irrational attitudes that we do our best to fight. But too often in this country, one side of the political establishment fosters our worst impulses and makes what should be shameful, acceptable and even thrilling.
Much of the anger seems to have come from people who wanted Miss Kansas, Theresa Vail, to win. She was in the Kansas Army National Guard. She enjoys hunting, supposedly. She has tattoos. She’s blond. Basically, she’s a redneck’s wet dream. I hate to ruin the fantasy, but Vail is actually a French name, although it probably came through England, so that may take some of the sting off. Regardless, she’s a pretty girl. Personally, I think Davuluri is prettier and looks more like the kind of young lady I would want representing my nation at mall openings all across this great land of ours. But whatever; I don’t claim to be a good barometer of the country.
On this day in 1386,
You know how no major media outlet ever reports on people dying of malaria? It is, as they say, “dog bites man.” It isn’t news. It would be like publishing an article, “President uses bathroom multiple times per day.” Yet when someone goes out in public and kills a large group of people, it is all over cable news. Why is that? It strikes me as completely “dog bites man.” Yet the media are feasting on the
I was just reading an article by Ed Kilgore over at Political Animal, 
