For food service industry and retail, I'm for the minimum wage being increased to at least $12. Not for manufacturing. Software and robotics are going to revolutionize manufacturing in the next 10 years. In the meantime, we have to compete with overseas manufacturing.
My family owned a bunch of pharmaceutical manufacturing plants and other consumer-goods manufacturing plants. We would license Western goods and manufacture them in Iran and distribute them throughout the Middle East.
The illusion that consumption - and its correlative, income - is desirable probably stems from too great preoccupation with what Knight calls "one-use goods," such as food and fuel, where the utilization and consumption of the good are tightly bound together in a single act or event. ... any economy in the consumption of fuel that enables us to maintain warmth or to generate power with lessened consumption again leaves us better off. ... there is no great value in consumption itself.
We've wanted to produce more in the 19th century and the 20th century in order to give man the possibility for more dignified human life; but actually what has happened is that production and consumption have become means - have ceased to be means and have become ends, and we are production crazy and consumption crazy.
One of Britain's big problems throughout history has been that we lust after consumer goods from elsewhere, but our friends overseas have been less enthusiastic about buying things we produce.
Until the 19th century, the term 'to consume' was used mainly in its negative connotations of 'destruction' and 'waste'. Tuberculosis was known as 'consumption', that is, a wasting disease. Then economists came up with a bizarre theory, which has become widely accepted, according to which the basis of a sound economy is a continual increase in the consumption (that is, waste) of goods
I really like the idea of consumption tax, and most countries have a pretty serious consumption tax. It's called a value-added tax or a goods and services tax ... It's a sales tax. It doesn't tax labor, it doesn't tax savings or investment - it taxes consumption.
Imagine if investors in Wal-Mart really cared about bribery at that company's overseas operations or safety standards at its overseas manufacturing plants. If investors pulled their capital, corporate leaders would have to respond.
This supposed idyllic society we have is the most confused, warped, addicted society in the history of the world. We are addicted to power, we're addicted to our own image of ourselves, to violence, divorce, abortion, and sex.
Now listen, the one thing about agriculture is we've lost our manufacturing, we've lost a great deal of jobs overseas, lots of our industry. The last thing in the world we need to do is lose the ability to produce our food.
People can become addicted to fame, money, and attention as deeply as they become addicted to drugs.
Collectors become obsessive and then addicted. You become addicted to art and you can't live without it.
I think we'll start defining wealth and success differently and develop new approaches to consumption. Things that have always signified wealth and security - home ownership, new cars, luxury goods - have become a burden for many people and will be replaced by more experiential consumption like travel and recreation, self-improvement, and so on. By divesting themselves of certain big-ticket possessions that have been keeping them tied down, people will gain a new freedom to live more meaningful lives. Changes in consumption and lifestyle are key to Great Resets.
I've become increasingly confidant in following intuitions ahead of thoughts as I produce more records.
We have become a plague upon ourselves and upon the Earth. It is cosmically unlikely that the developed world will choose to end its orgy of fossil energy consumption, and the Third World its suicidal consumption of landscape. Until such time as Homo Sapiens should decide to rejoin nature, some of us can only hope for the right virus to come along.
I'm addicted to laughing. I go to see a lot of comedy shows. I'm addicted to playing really loud and obnoxious rock music in my car. I'm addicted to beautiful clothes and shoes. I just love gorgeous stuff and work hard to acquire pretty things, shiny things. I'm addicted to shiny things!