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an allergy to economic abstraction by noteworthy at 10:41 am EST, Nov 11, 2014 |
Baldur Bjarnason: There is a price to be paid for computer illiteracy.
Taylor Swift: I have to stop myself from thinking about how many aspects of technology I don't understand.
Bob Lefsetz: We live in a multifarious world where we come together on so few things. Taylor Swift is a rallying point, someone we can talk about, but it's got nothing to do with her music and everything to do with the publicity. Selling a million copies a week in a country of 300 million people is a blip on the radar screen, but owning the news cycle, even trumping the World Series, is priceless.
Alice Gregory: Sitting here, in this echoing vault of capitalism, I am less confused about the price of a good than I've ever been. And while I'm reluctant to glorify the dignity of manual labor, romanticize agrarian enterprise, or oversimplify a dense matrix of activity, the whole operation seems refreshingly straightforward. It makes me wonder whether the much-maligned, all-purpose nostalgia that's rampant among city-dwelling young adults -- the pickles, the flannel, the rye-based cocktails -- is really a kind of mass intellectual crisis: an allergy to economic abstraction.
Ulrik Sanders: There's too much capacity in the market and that drives down prices. From an industry perspective, it doesn't make any sense. But from an individual company perspective, it makes a lot of sense. It's a very tricky thing.
Venkat Rao: The fact that the phrase itself -- an economics of pricelessness -- likely sounds like a profane contradiction in terms suggests it is the right direction to explore.
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