Best of the Blogs: What Do Publishers Have to Fear From Amazon?
Minyanville's daily roundup of some of the best financial commentary from around the Web.
Link: Amazon, Up in Flames
"'If you want a picture of the future, imagine a boot stamping on a human face - forever,' George Orwell wrote in 'Nineteen Eighty-Four.' In 'Animal Farm,' he concluded that revolutions are inevitably betrayed by their leaders. His novel 'Burmese Days' ends with the hero killing himself because he is unfit to live in this sour world. He shoots his dog too. As a rule, modern civilization disappointed Orwell when it did not actually sicken him. But in at least one respect he was way too optimistic. Bookselling, he wrote in Fortnightly in November 1936, 'is a humane trade which is not capable of being vulgarized beyond a certain point. The combines can never squeeze the small independent bookseller out of existence as they have squeezed the grocer and the milkman.' (For related content, see Amazon Misses Revenue Forecasts Twice in a Row, Calling Long-Term Growth Potential Into Question.)
Link: Supporting Bad Habits With Public Money
"Florida and a few other states are considering additional restrictions on food stamp and welfare payments to the poor, such as prohibiting the purchases of snacks and sweets with food stamps and prohibiting withdrawals of welfare cash at casinos and strip clubs. Economists have two basic principles they use in these cases: fungibility and screening, and both point to unintended consequences of the sin-based restrictions."
Link: Watch: China's CCTV Now Broadcasting in North America
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