Industrial-economy

The U.S. tourism industry is expecting 2 million fewer visitors because of Trump

  • The United States’ tourism and hospitality industries are freaking out over the effect that Trump’s presidency is expected to have on foreign tourism, according to a new report from the Wall Street Journal.
  • America is set to see a decline of almost 2 million international travelers this year, the biggest drop off since the height of the global financial crisis, said a study by an industry group cited by the Journal. 
  • The biggest drop offs are set to occur in the U.S.’s two major international travel hubs, New York City, and Los Angeles. Read more (3/10/17 11:35 AM)

I’m not saying that free-market economics is bad or dangerous, I’m saying that it doesn’t even exist.

The mythical butcher-baker-candlestick-maker view of capitalism only existed in the very earliest days of capitalist development, when it was little more than a social experiment embarked upon by adventurous minor nobles and desperate peasants in fast-growing early-modern cities. The whole reason capitalism survived as a way of organising economic activity was because the newly-wealthy capitalist elites were best placed to wield influence over tottering European feudal states as they crumbled under their own weight - taking them over to run them as glorified protection rackets for their profit-making schemes. From its earliest inception within feudal societies, capital has sought the benefits of the state - legal regulation, economic protectionism, military repression - and used them to secure its future.

Even the most dimly-conscious free-market ideologue knows this. What ‘free-market’ ideology really conceals is a civil war between staggeringly wealthy elites, over which faction of capitalists should reap the rewards: those who benefit from the huge resources of states being poured into subsidising the profits of manufacturing, industry and trade, or those who can make a killing from bank bailouts, government-secured property deals and state-backed oil ventures.

Modern states, therefore, are to capitalism both nursemaid and childhood playmate: they are utterly inseparable, bound together in a Faustian bargain written in the blood of workers.

‘Glass House’ Chronicles The Sharp Decline Of An All-American Factory Town

Lancaster, Ohio, the home of the Fortune 500 company Anchor Hocking, was once a bustling center of industry and employment. At its peak following World War II, Lancaster’s hometown company was the world’s largest maker of glass tableware and employed more than 5,000 town residents.

Though Anchor Hocking remains in Lancaster today, it is a shell of its former self, and the once thriving town is beset by underemployment and drug abuse. Lancaster native Brian Alexander chronicles the rise and fall of his hometown in his new book, Glass House.

“People are genuinely struggling,” he tells Fresh Air’s Dave Davies. “The economy of the town is struggling, not because there’s high unemployment, [but] because the employment that there is all minimum wage, or even lower than minimum wage.”

Fairfield County, in which Lancaster is located, went 61 percent for Donald Trump in the presidential election — a fact that Alexander attributes to the candidate’s message of disaffection. Alexander says on Election Day one Lancaster woman told him she voted for Trump because she wanted “it to be like it was.”

Germany Economic Facts

- Germany is the most populous country of the European Union
- Ethnic groups: German 91.5%, Turkish 2.4%, other 6.1% (made up largely of Greek, Italian, Polish, Russian, Serbo-Croatian, other European); Danish minority in the north, Sorbian (Slavic) minority in the east
- population is well educated with modern and cosmopolitan views
- fair amount of plurality in the lifestyles and diversity in the cultures
- demographic challenges such as aging population, immigration issues, depleting incomes due to world economic crisis
- the business culture in Germany is unique in the world
- engineers and managers are given higher appreciation than accountants and lawyers; the people on the job have good academics and technical proficiency
- hierarchy is prominent in almost every organization and most of the power is vested in the hands of top level senior managers
- roles and responsibilities are strictly defined and the business processes are very well defined
- people tend to be less social in the working environment and separate work life and personal life
- teamwork could probably be best described as a group of individuals working to a specific leader towards a recognizable goal
- one of the qualities of Germans is that they put facts ahead of emotions and hence behave very objectively
- they have a direct communication style  
                                   
- German industry is very diversified and in many sectors it is a global leader
- Germany’s greatest strength is its automobile industry
- the country committed itself to developing renewable energy sources such as wind and solar power
- infrastructural facilities are very strong in Germany which facilitates the growth of any business in the country
- it has one of the world’s most technologically advanced telecommunications systems
- the broadcasting media, especially TV and radio, is deeply penetrated as more than 90% of homes have cable TV, which provides ample opportunities for effective business promotions and marketing
- internet population is 20.416 million which is 5th-largest in the world despite a population of only about 80 million
- well-developed transportation systems in terms of airways, railways, roadways, ports etc.

Source: A YUM brand/Taco Bell Market Analysis info sheet on Germany

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“No-one voted to be poorer? Well, I did! I not only voted to be poorer, I also voted for the pound, the economy, industry and jobs to take a hit…..but don’t worry, the only people losing their jobs will be people on the European bandwagon. There’s no way anyone else will lose their job as a result of my vote. Which I’m so proud of I’m writing this letter, by the way. You’ll all thank me when the Global Freedom Benefits come flooding in.”

washingtonpost.com
America has locked up so many black people it has warped our sense of reality
We've been totally underestimating how bad things are for African-Americans
By https://www.facebook.com/jeff.y.guo

For as long as the government has kept track, the economic statistics have shown a troubling racial gap. Black people are twice as likely as white people to be out of work and looking for a job. This fact was as true in 1954 as it is today. The most recent report puts the white unemployment rate at around 4.5 percent. The black unemployment rate? About 8.8 percent. But the economic picture for black Americans is far worse than those statistics indicate. The unemployment rate only measures people who are both living at home and actively looking for a job.

The hitch: A lot of black men aren’t living at home and can’t look for jobs —because they’re behind bars.

CLICK THE HEADER LINK TO READ THE FULL ARTICLE.

buzzfeed.com
The Prison Strike Is Spreading And The DOJ Has Opened An Investigation
As a national prison strike enters its second month, the Department of Justice says it will investigate conditions in Alabama prisons. And some corrections officers are expressing support.
By Cora Lewis

Der Hamburger Hafen - Hamburg Harbor - is Germany’s largest port, nicknamed “Das Tor zur Welt (Gateway to the World). It’s the 2nd-busiest port in Europe (after Rotterdam in the Netherlands). It’s almost as old as the history of Hamburg itself. Founded in 1189 by Frederick I for its strategic location, it has been Central Europe’s main port for centuries and enabled Hamburg to develop early into a leading city of trade with a rich and proud bourgeoisie.

It has been well documented in recent years that coral reefs are sensitive ecosystems that are threatened by any changes to their environment. Accordingly, the results of an ongoing ecological study in China come as no real surprise. The study undertaken by the Australian Research Council Center of Excellence for Coral Reef Studies and the South China Sea Institute of Oceanology has discovered what was once an area of vast coral reefs has now shrunk by a worrying 80% in 30 years- with most of the damage within the last 10-15 years. The reefs that once stretched across roughly 31,000 square kilometres in the South China Sea have largely died off.

The reduction in biodiversity comes at the price of a massive economic boom in China in the last decade. The effects of pollution, overfishing and inefficient coastal management are blamed for the reefs degradation.

China is currently the economic powerhouse of the world, but along with this title it also takes on the role of being one of the biggest polluters. A balance between economics and environment needs to be reached imminently to try and prevent complete coral reef collapse.

-Jean

For more information, see here:http://news.discovery.com/earth/china-boom-savages-coral-reefs-121228.html

Photo courtesy of J.W. Alker/Corbis

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The Industrial Economy: Crash Course U.S. History #23

In which John Green teaches you about the Industrial Economy that arose in the United States after the Civil War. You know how when you’re studying history, and you’re reading along and everything seems safely in the past, and then BOOM you think, “Man, this suddenly seems very modern.” For me, that moment in US History is the post-Reconstruction expansion of industrialism in America. After the Civil War, many of the changes in technology and ideas gave rise to this new industrialism. You’ll learn about the rise of Captains of Industry (or Robber Barons) like Cornelius Vanderbilt, Andrew Carnegie, John D Rockefeller, and JP Morgan. You’ll learn about trusts, combinations, and how the government responded to these new business practices. All this, plus John will cover how workers reacted to the changes in society and the early days of the labor movement. You’ll learn about the Knights of Labor and Terence Powderly, and Samuel Gompers and the AFL. As a special bonus, someone gets beaten with a cane. AGAIN. What is it with American History and people getting beaten with canes?