This is a rush transcript.

Copy may not be in its final form.AMY GOODMAN: This is Democracy Now!,, The War and Peace Report.

I’m Amy Goodman.

The New York Times Magazine named the top 100 handmade jewelry companies in America last month.

The magazine’s list is based on the company-by-company sales figures of companies.

We’re joined right now by the editor of The New Yorker, Jonathan Lethem.

Lethem is the author of several books, including The New American: A History of American Art, from Ancient Greece to the Present.

Jonathan Letham, welcome to Democracy Now!

Let’s start with you.

Jonathan, you’re also the editor-in-chief of The Wall Street Journal, so let’s start at the top.

I think this is a really important distinction, is that the Wall Street JournoList is a list of 100,000 or so companies that are worth more than $10 billion, which is the annual revenue of the companies listed on the list.

And the other one is a database of all the companies that have a $10 million-plus market cap, which includes companies that make less than $1 billion.

You’re talking about more than a hundred thousand companies.

So, the difference is really very small, but it’s very important.AMY CLAPPER: Yeah, I mean, I think that this distinction between the two is a very important distinction.

And I think it’s a distinction that the public doesn’t recognize.

And so, for example, the most famous, you know, of the 10 biggest companies on Wall Street is Apple, which had a market cap of more than 10 billion dollars.

The other three, as you know are Berkshire Hathaway and Goldman Sachs, which have each had a larger market cap than Apple.

So it’s an enormous difference.

But that’s a great way to sort of break down the differences.

And one of the big differences is the size of the market.

Apple, for instance, has a market value of about $10.6 trillion, which means that Apple alone has a $1 trillion market cap.

And in fact, Google alone has more market capitalization than Apple does.AMY LETHAM: Yes.

Let’s talk about your list.

I mean there’s so many companies that you’re talking to that it’s really hard to know who they’re actually worth, and what are the sales that are going on.

So the first thing that I would say is that in fact there’s a very interesting distinction between a company that’s really important and a company whose value is inflated by a few thousand dollars or a few million dollars.

So for example Apple, I’ve read a lot of these rankings, they’re so high, and you know that a few hundred million dollars would make you one of these very, very valuable companies.

And it’s just that you’ve actually got to pay the price for that, and then you’ve got to make sure that the company has some kind of market cap and that the prices that you sell at the end of the day reflect that.

And that’s where a lot, if not most, of these companies fall short.

So let’s talk a little bit about the other big companies on your list, which I think you know about, because of the amount of people who actually read The New Republic, that’s how much you know.

And they have a market capitalisation of $15 trillion.

So $15 billion is more than Microsoft, which has a valuation of $5 billion.

It’s more than the rest of the Fortune 500 companies combined.

And you know what the price is for a stock of that size?

It’s $8.4 billion.AMYLETH: Right.AMYCLAPPER