“If you’re so smart, why ain’t you rich?”

This traditional southern put-down came to mind as a I read Matthew Yglesias’ posts (yesterday and today) on the presumed link between wealth, on the one hand, and competence and innovation, on the other. Exhibit A: Big Business may retard technological progress. Alexander J. Field argues that the 1930s were the “most technologically progressive” decade […]

False promises to the jobless

Looking over Barbara Ehrenreich’s Bait and Switch, a 2005 exposé on the decline of the middle class, I found descriptions of the following three alternatives for the downsized corporate manager. Franchising, also known as “buying yourself a job,” is the purchase of the right to operate a local franchise of a major corporation. Most of […]