Whatâs Wrong Today:
We have the methods, materials, and expertise to handle any of our major problems, be it with economic growth, war/peace, income inequality, social malaise or, outbreaks of serious infectious disease. Our problem is that in all of these areas, we have chosen not to use our abilities to solve any problems that involve use of the commons because the Congress wonât agree that the commons can be used for these things, except in an academic sense.
In America, when push comes to shove, it is you and the people you feel are part of your clan or tribe that countânever mind that we live on a finite planet with finite resources and carrying capacityâthat is irrelevant to the vast majority of us.
Now, along comes Ebola, and, collectively, we have chosen to ignore the problem, to slow roll vaccines that could treat it, because, capitalism.
Are we going to realize that simply following our own self-interest may not be in our self-interest? That maybe the culture of narcissism may not be all itâs cracked up to be? The Ebola diversion from real election issues will not stop, however. If it does, the media will simply find a new shiny object.
Could our leadership class be motivated enough to actually be responsible, and not just to APPEAR to be responsible?
Here is some Wednesday linkage:
Music playlists for Euro soccer teams: a few surprising choices for 20 & 30-something profession athletes.
Tokyo has way fewer homeless than NYC. Why? The Japanese Constitution guarantees its citizens âthe right to maintain the minimum standards of wholesome and cultured living.â That document was drawn up by Gen. MacArthur during our occupation after WW II. So, because of the US, the Japanese have a stronger safety net for their citizens than we do in our own country. Ironic, or what?
Palestinian women are protecting the Al-Aqsa Mosque compound from Israelis who want to take it over: There are attempts on most days by Israelis to enter this mosque and lay claim to it. Older Palestinian women work to keep control of it. This will not end well.
Reuters reports that the US Army is quarantining soldiers who provided Ebola support in West Africa for 21 days: Despite the fact that current Defense Department policy allows troops with no known exposure to the virus to return to work and interact with their families after coming home, as long as they have their temperature checked twice daily for 21 days.
Baby Boomers are seeing a tsunami of products aimed at âhelpingâ with problems of aging: Check out Depends in designer colors and the cane made from bull penis. Corporations are bringing sexy back to the 60-somethings.
Health Watch:
Corporate Wellness programs are ineffective: The Kaiser Family Foundation (KFF) survey found that 36% of firms with more than 200 workers, and 18% of firms overall, have wellness programs. The Upshot says they rarely work. Quelle surprise!
States that have expanded Medicaid as part of health reform expect their share of Medicaid spending to grow more slowly than states that have not expanded, a new KFF report finds.
Hospitals are now taking their cues from the airlines and the auto industry. Now your healthcare price comes unbundled, with additional fees and options. At least auto salesmen negotiate with you while you are conscious and not impacted by meds and pain.
Your Business Trip:
Legal marijuana is a growth industry, with annual revenues forecasted to be $35 billion by 2020.
Business Insider says maximizing shareholder value is bad. OMG, what would Mitt say? James Montier, a behavioral finance writer, believes that companies should be required to focus on running their businesses, producing quality goods and services, treating customers and workers fairly, and creating shareholder value as a by-product, not as an objective.
Blinded by Science:
Genome study shows humans bred with Neanderthals. And not just on Saturday night in college!
The new Afghanistan President gets violent reception from the Taliban. According to an AP tally, there have been at least 10 incidents in Kabul (including inside the Green Zone) since Ghani Ahmadzai’s inauguration on Sept. 29th, killing 27 people.
Your music moment:
The Rolling Stones were filmed by Martin Scorsese at NYâs Beacon Theater in 2006. The entire documentary was released in 2008. The filmâs title, âShine a Lightâ is from a Stones song by the same name. Here are a few minutes behind the scenes with Scorsese, the Stones and Bill Clinton:
https://www.youtube.com/watch?v=QO9fXphmuGk
Re self interest, not being in ones best self interest, note the following, though small businesses donât employ game theory, many sophisticated investors do. And game theory generally does not give a ratâs ass about the consequences. If you want to win, who cares about the other guy, even if by winning, the long-term consequences are terrible. So a Carl Icahn can manage to get control of a company and even (in essence) cannibalize for his own benefit. No long term winner but Carl.
Courts have institutionalized this in how they decide cases where shareholders sue (a complex area that includes some fairly rapacious practices â suffice it to know that if a merger is in the works, and you are a powerful stockholder, a shareholder lawsuit can get you a bigger piece of the pie).
So business school theories, lawsuits and a business press that needs a story a day, have conspired to make it nearly impossible for a publicly traded company to go for the long term â unless it gets lucky. Amazon is lucky and so is Apple. But for the rest, not so sure.