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Americans used to believe that their constitution protected private property. The Fifth Amendment allows the state to seize it only for "public use", and so long as "just compensation" is paid. "Public use" has traditionally been taken to mean something like a public highway. Roads would obviously be much harder to build if a single homeowner could hold out forever or for excessive compensation. The government's powers of "eminent domain" have also been used to clean up "blighted" slums. "Urban renewal", he noted, has sometimes been nicknamed "negro removal".
The "triangular trade" as it was known, whereby slave-ships left European ports for west Africa with rum, guns, textiles and other goods to exchange for slaves, and then transported them across the Atlantic to sell to plantation-owners, and then returned with sugar and coffee, also fuelled the first great wave of economic globalisation. Slavers in France would send their shirts to be washed in the streams of the Caribbean isle of St Domingue, now Haiti; the water there was said to whiten the linen better than any European stream.
The price of used furniture is nothing but a viewpoint, and if you wouldn't understand the viewpoint is impossible to understand the price. With used furniture you can't be emotional 49.
There is almost no house property in London that is not overburdened with a number of middlemen.
Although Britons are cross about high pay, few seek capitalism's overthrow: they dislike corporate fat cats for being fat, not for being cats.
Some firms are employing a "China + 1" strategy, opening just one factory in another country to test the waters and provide a back-up. if China's currency and shipping costs were to rise by 5 % a
Mr Rao offered two deals on loose coffee beans: 33 % extra free or 33 % off the price. The discount is by far the better proposition, but the supposedly clever students viewed them as equivalent. Even well-educated shoppers are easily foxed.
If not in coin you must pay in humiliation of spirit for every benefit received at the hands of philanthropy.
When Deng Xiaoping, China's paramount leader, died in 1997 his only post was chairman of the China Bridge Association.
Shopping with coupons and jars of loose change. Watering down milk to make it go further. Using washing up liquid instead of shampoo. Inventing excuses for skipping lunch. Having to walk everywhere. Sharing beds and baths. Mending clothes that are themselves second-hand. Reviving old newspapers as makeshift lampshades. Always being tired – poverty in austerity.
The first is that entrepreneurs routinely see opportunities where everyone else sees problems. A surprising number of great companies were born out of fury and frustration.
When Wal-Mart tried to impose alien rules on its German staff – such as compulsory smiling and a ban on affairs with co-workers – it touched off a guerilla war that ended only when the supermarket chain a
When things went wrong for Middle Eastern tribes a couple of mille
Why do Americans spend such huge amounts of time, money, water, fertiliser and fuel on growing a useless smooth expanse of grass? Much better to cultivate something useful, like tomatoes.
Walmart did not become a $200 billion company without ru
Water flows towards money.
The recovery has resembled third-world traffic, where juggernauts and rickshaws, cars and cycles ply the same lanes at different speeds, often getting in each other's way.
Shoppers have been able to buy from out-of-state merchants since Sears issued its first mail-order catalogues in the 19th century.
Warren Buffett: "It's only when the tide goes out that you learn who's been swimming naked."
The new strategy looks more promising, but as always success will depend on implementation.
Consider an imaginary Englishman's day. He wakes in his cottage near Dover, ready to commute to London. Chomping a bowl of Weetabix, a British breakfast cereal resembling (tasty) cardboard, he makes a cup of tea. His privatised water comes from Veolia and his electricity from EDF (both French firms). Thumps at the gate tell him another arm of Veolia is emptying his bins. He takes the new high-speed train to London: it is part-owned by the French firm Keolis, while the tracks belong to Canadian pension funds. At St Pancras station, a choice of double-decker buses awaits. In the last couple of years, one of the big London bus companies was bought by Netherlands Railways. A second went to Deutsche Bahn, the German railway company. In March, a third was taken over by RATP, the Paris public-transport authority (its previous owners were also French). The Dutch railways logo is emblazoned on buses across London. Thanks to RATP's logo, a stylised image of the River Seine now adorns hundreds more: most Londoners neither know nor care. As for Weetabix, a French billionaire is interested in buying the firm, according to press reports. Yet Britain still feels British.
Polaroid, whose once-iconic instant-photo firm, has only one significant asset now – its name.
In a diatribe against the Rothschilds, Heinrich Heine, a German poet, fumed that money "is more fluid than water and less steady than air".
New boss didn't magic away the problems.
Most state-owned companies are prone to over-staffing, underinvestment, political interference and corruption.
Putting business at the heart of the health-care system is not a must but a bug.
The word "company" is derived from the Latin words "cum" and "pane" meaning "breaking bread together".
The sheer size of the Al Saud clan has also helped cement the nation. There have been eight generations of Saudi rulers, dating back to 18th-century sheikhs who held sway in a few oasis towns near present-day Riyadh. Many have been prolific. King Abdul Aziz himself sired some 36 sons and even more daughters. The first son to succeed him, King Saud, fathered 107 children. King Abdullah is believed to have 20 daughters and 14 sons. The extended Al Saud family is now thought to number some 30,000, though only 7,000 or so are princes. Of these, only around 500 are in government, and only perhaps 60 carry real weight in decision-making.
There's no exaggerating China's hunger for commodities. The country accounts for about a fifth of the world's population, yet it gobbles up more than half of the world's pork, half of its cement, a third of its steel and over a quarter of its aluminium. It is spending 35 times as much on imports of soya beans and crude oil as it did in 1999, and 23 times as much importing copper – indeed, China has swallowed over four-fifths of the increase in the world's copper supply since 2000.
The world knows what it wants, but ca
The financial results of Chinese companies that global investors wish to buy into can be as unintelligible as the dialect spoken in the company town. It is said (with apparent sincerity) that some Chinese firms keep several sets of books – one for the government, one for company records, one for foreigners and one to report what is actually going on.