[...] as financial markets became more deregulated in the 1980s, large corporations began to use their own cash reserves, lending them to one another directly--they disintermediated--bypassing banks and squeezing bank profits. [...]
[...] we cannot all cut our way to growth at the same time. For someone to benefit from a reduction in wages (becoming more cost-competitive), there must be someone else who is willing to spend money on what that person produces. John Maynard Keynes rightly referred to this as "the paradox of thrif…
[...] The cost of bailing, recapitalizing, and otherwise saving the global banking system has been, depending on, as we shall see later, how you count it, between 3 and 13 trillion dollars. Most of that has ended up on the balance sheets of governments as they absorb the costs of the bust, which is…
[...] More generally, code as expression and code as action never coincide fully. In terms of the software ontology explored here, code, the material that lies at the core of software, is unstable because it is both expression and action, neither of which are materially nor socially stable. In sayi…
[...] The production of software has for decades been seen as resistant to industrial or Fordist techniques (e.g., Brooks 1995; see Aneesh 2001). The very term "software developer" conveys a certain open-endedness that software development methodologies attempt to close off. [...]
