Have we learned nothing from history? The violence and confusion that is currently happening in Ferguson, Mo. was completely predictable. There are lessons from the 1960s which seem to have been completely forgotten. There are the lessons from the England soccer riots, too, but this seems to be a new lesson in how to do everything wrong. Arresting journalists? For what? Arresting a city alderman? BTW, how does an unarmed Black man get shot to death?
In recent weeks, the managers, employees, and customers of a New England chain of supermarkets called “Market Basket” have joined together to oppose the board of director’s decision earlier in the year to oust the chain’s popular chief executive, Arthur T. Demoulas.
Their demonstrations and boycotts have emptied most of the chain’s seventy stores.
What was so special about Arthur T., as he’s known? Mainly, his business model. He kept prices lower than his competitors, paid his employees more, and gave them and his managers more authority.
Late last year he offered customers an additional 4 percent discount, arguing they could use the money more than the shareholders.
In other words, Arthur T. viewed the company as a joint enterprise from which everyone should benefit, not just shareholders. Which is why the board fired him. (more…)
One of the frequent refrains from conservatives is that we are in for a huge inflationary problem. They have been screaming about inflationary risk since 2008. Economist Brad Delong has a long but great discussion as to why we haven’t seen any signs of inflation and why we aren’t going to see any significant inflation over the next several years.