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And I think those are the kinds of things we should be moving towards: a democratic institution, in which the people involved in the institution, whoever they may be (faculty, students, staff), participate in determining the nature of the institution and how it runs; and the same should go for a factory

There are more and more professional administrators, layer after layer of them, with more and more positions being taken remote from the faculty controls

In a reasonably functioning university, you find people working all the time because they love it; that’s what they want to do; they’re given the opportunity, they have the resources, they’re encouraged to be free and independent and creative—what’s better?

both economies had extraordinarily large real estate bubbles.

Massive real estate bubble (check) -Central bank bailing out banks (check) -Bailed out banks keep bad real estate loans on their books at inflated values (check) -Government taking on higher and higher levels of debt relative to GDP (check) -Employment situation stabilizes with less secure labor force (check) -Home prices remain stagnant (check)

the United States had never witnessed a year over year drop in nationwide home prices since the Great Depression.

home prices are now back to levels last seen 8 years ago.  The lost decade is now nipping at our heels but what about two lost decades like Japan?

the U.S. has such a large number of part-time workers and many of the new jobs being added are coming in lower paying sectors signifies that our economy is not supportive of the reasons that gave us solid home prices for many decades. 

young Japanese workers, some in their late 20s or early 30s, already resigned that they would never buy a home.

The notion that housing is always a great investment runs counter to what they saw in their lives.  Will they even want to buy as many baby boomers put their larger homes on the market

many of our young households here are now coming out with massive amounts of student loan debt.

Lower incomes, more debt, and less job security.  What this translated to in Japan was stagnant home prices for 20 full years.  We are nearing our 10 year bear market anniversary in real estate so another 10 is not impossible.  What can change this?  Higher median household incomes across the nation but at a time when gas costs $4 a gallon, grocery prices are increasing, college tuition is in a bubble, and the financial system operates with no reform and exploits the bubble of the day, it is hard to see why Americans would be pushing home prices higher.

We also know that there are plenty of low- to no-cost learning options available to people on a daily basis, from books on nearly every academic topic at the local library and on-the-job experience, to the television programming on the National Geographic, History and Discovery channels. If learning can and does take place everywhere, there has to be a specific reason that people would be willing to spend tens of thousands of dollars and several years of their life to get it from one particular source like a college. There is, of course, and again it’s the credential, because no matter how many years I spend diligently tuned to the History Channel, I’m simply not going to get a job as a high-school history teacher with “television watching” as the core of my resume, even if I both learned and retained far more information than I ever could have in a series of college history classes.

That’s not to say there isn’t any room for humans in Demand’s process. They just aren’t worth very much. First, a crowdsourced team of freelance “title proofers” turn the algorithm’s often awkward or nonsensical phrases into something people will understand: “How to make a church-pew breakfast nook,” for example, becomes “How to make a breakfast nook out of a church pew.” Approved headlines get fed into a password-protected section of Demand’s Web site called Demand Studios, where any Demand freelancer can see what jobs are available. It’s the online equivalent of day laborers waiting in front of Home Depot. Writers can typically select 10 articles at a time; videographers can hoard 40. Nearly every freelancer scrambles to load their assignment queue with titles they can produce quickly and with the least amount of effort — because pay for individual stories is so lousy, only a high-speed, high-volume approach will work. The average writer earns $15 per article for pieces that top out at a few hundred words, and the average filmmaker about $20 per clip, paid weekly via PayPal. Demand also offers revenue sharing on some articles, though it can take months to reach even $15 in such payments. Other freelancers sign up for the chance to copyedit ($2.50 an article), fact-check ($1 an article), approve the quality of a film (25 to 50 cents a video), transcribe ($1 to $2 per video), or offer up their expertise to be quoted or filmed (free). Title proofers get 8 cents a headline. Coming soon: photographers and photo editors. So far, the company has paid out more than $17 million to Demand Studios workers; if the enterprise reaches Rosenblatt’s goal of producing 1 million pieces of content a month, the payouts could easily hit $200 million a year, less than a third of what The New York Times shells out in wages and benefits to produce its roughly 5,000 articles a month.

But once it was automated, every algorithm-generated piece of content produced 4.9 times the revenue of the human-created ideas. So Rosenblatt got rid of the editors. Suddenly, profit on each piece was 20 to 25 times what it had been. It turned out that gut instinct and experience were less effective at predicting what readers and viewers wanted — and worse for the company — than a formula.

Here is the thing that Rosenblatt has since discovered: Online content is not worth very much. This may be a truism, but Rosenblatt has the hard, mathematical proof. It’s right there in black and white, in the Demand Media database — the lifetime value of every story, algorithmically derived, and very, very small. Most media companies are trying hard to increase those numbers, to boost the value of their online content until it matches the amount of money it costs to produce. But Rosenblatt thinks they have it exactly backward. Instead of trying to raise the market value of online content to match the cost of producing it — perhaps an impossible proposition — the secret is to cut costs until they match the market value.