publishing pioneer, rent seekers sucking life out of the economy

The Dun Emer press-room

The Dun Emer press-room, ca. 1903. Elizabeth Corbet Yeats is at the iron hand-press; Beatrice Cassidy, standing, is rolling out ink, and Esther Ryan is correcting proofs at the table. The rear wall of the press-room displays a mural in pastel by the poet and artist AE (George Russell).

The first press founded by Elizabeth Corbet Yeats (1868-1940) was named for the Lady Emer, renowned in the Irish epics for her beauty and artistic skills. The intent was to provide training for young women in a number of occupations by which they might earn their living, including bookbinding, weaving, embroidery, and printing. Among the works Elizabeth published were those of her brother, William Butler Yeats.

Humanity achieves another milestone, Environmental Toxins Enter the Brain Tissue of Polar Bears

“If PFOS and PFCAs can cross the blood-brain barrier in polar bears, it will also be the case in humans. The brain is one of the most essential parts of the body, where anthropogenic chemicals can have a severe impact. However, we are beginning to see the effect of the efforts to minimize the dispersal of this group of contaminants.”

Select environmentally labeled products

The eight carbon chain PFOS and perfluorooctane carboxylate (PFOA) are PFASs have been phased out and are no longer produced in the western world. However, production in China, today the only known production source of PFOS and PFOA, has increased by roughly a factor of 10, since it was phased out in the USA.

China is the wonderland of economic freedom that so many conservatives and libertarians dream of – few regulations, those regs they do have are not rigorously enforced, and no unions.

Larkin Company Administration Building, Buffalo, New York Designed by Frank Lloyd Wright

Larkin Company Administration Building, Buffalo, New York, 1906.
Designed by Frank Lloyd Wright.

The five story dark red brick building used pink tinted mortar and utilized steel frame construction. It was noted for many innovations, including air conditioning, stained glass windows, built-in desk furniture, and suspended toilet bowls. Though this was an office building, it still caught the essence of Frank Lloyd Wright’s type of architecture. Sculptor Richard Bock provided ornamentation for the building.

The Larkin building was demolished in 1950.

How Wall Street sucks all the life out of the economy,

Here’s the point that is critical to understand: the rentier performs no useful function, and the economic rent can be eliminated without reducing the supply of the resources needed for production.

[  ]…Never content with its piece of the pie, Wall Street got into the storage business. In a terrific (and all too rare) piece of reporting, the NYTimes has exposed the scam created by Goldman Sachs to corner the aluminum market. You’ve got to read this for yourself, but I’ll summarize the main point. Goldman bought Metro, a storage company in Detroit that handles a quarter of the market’s supply of aluminum. Before the Squid took control, Metro had 50,000 tons of aluminum in storage; under Goldman’s management that has increased to 1.5 million tons.

Based on that growth you might think the aluminum business is booming, right? Well, no. Producers who need aluminum cannot get it—it is all bottled up in Goldman’s warehouses. The typical wait to get an order filled by Goldman’s facilities has grown from six weeks to 16 months.

And here’s the kicker. Goldman doesn’t own an ounce of the aluminum—it merely stores it for the owners. When the owners demand their own aluminum, Goldman claims it cannot be found. This is like depositing your family jewels at the local bank, but when you go to retrieve them, the bank claims it has misplaced your safety deposit box. And so you wait for 16 months.

At the bottom of this rent-seeking are the little worker bees – in another era they were called serfs. In the U.S. No one who does an honest day’s work likes to think of themselves as a serf who is just spinning their wheels to create the capital the rent seekers play with. So change at the top requires some realizations by the average American.

 

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