JAMES KWAK ~ ECONOMISM ~ 2017

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~ BEATROI ~ Bad Economics And The Rise Of Inequality

~ E-ROTPT-PCAM-BAT-TA-TDIOAE101T-ETTABTDVNHTITRW ~ Economism – Rests On The Premise That – People – Companies – And – Markets – Behave According To – The Abstract – Two-Dimensional Illustrations Of An Economics 101 Textbook – Even Though The Assumptions Behind Those Diagrams Virtually Never Hold True In The Real World

~ EIAILTWPMSOR-BICTAO-‘E’-ECBAPRT ~ Economism Is An Interpretive Lens Through Which People Make Sense Of Reality – Because It Claims The Authority Of – “Economics” – Economism Can Be A Powerful Rhetorical Tool

~ WSEACSMP-ITWTMOJ-TESO-ATITIG-WETFOAATCI ~ While Superficial Economic Arguments Can Serve Multiple Purposes – In Today’s World They Most Often Justify – The Existing Social Order – And The Inequality That It Generates – While Explaining The Futility Of Any Attempt To Change It

~ RARWQTSM-A-ATITST-ITS-EILAI ~ Reducing All Real-World Questions To Simple Models – And – Answering Them In The Same Terms – In This Sense – Economism Is Like An Ideology

~ TCJFGDOW-INLTTSHWDBG-OTTSOTFIRFTPOTS-I-IIN-EC-BIITNOOAESTPTGGTTGN ~ The Common Justification For Great Disparities Of Wealth – Is No Longer That The Social Hierarchy Was Dictated By God – Or That The Survival Of The Fittest Is Required For The Progress Of The Species – Instead – Inequality Is Necessary – Even Celebrated – Because It Is The Natural Outcome Of An Economic System That Provides The Greatest Good To The Greatest Number

~ TAOETPA-AS-RT-RD-IOSOIS ~ The Ability Of Economism To Pass As– Abstract Science – Rather Than – Rhetorical Device – Is One Source Of Its Strength

~ EIAIBOISEAEP-A-C-U-POTW-WCBCQAE-DW-MAUF ~ Economism Is Also Influential Because Of Its Sedative Elegance And Explanatory Power – A – Clean – Uncluttered – Picture Of The World – Which Can Be Communicated Quickly And Easily – Dispensing With – Messy And Uncooperative Facts

~ ASSOAC-BOAUA-HB-WICS ~ A Small Set Of Abstract Concepts – Based On Admittedly Unrealistic Assumptions – Has Become – Widespread In Contemporary Society

~ IALETMAC-ITAWOSADC-TII-ITRWOPAI ~ It’s A Lot Easier To Make A Case – In The Abstract World Of Supply And Demand Curves – Than It Is – In The Real World Of People And Institutions

~ IGPPWTBUTAISOS-WTSTIOTG-O-PIWAFIOTW ~ Ideas Gain Power Precisely When They Become Useful To An Important Segment Of Society – When They Support The Interests Of That Group – Or – Provide It With A Favorable Interpretation Of The World

~ BBTPO-PT-SI-A-WP-CCTBUWEFTPOPTO ~ Befuddled By The Popularity Of – Progressive Taxes – Social Insurance – And – Welfare Programs – Commentators Continue To Blame Unfamiliarity With Economics For The Popularity Of Policies They Oppose

~ M-IC-WDNSIEI-ARATVOE ~ Many – Influential Commentators – Who Do Not Specialize In Economic Issues – Also Routinely Adopt The Vocabulary Of Economism

~ TM-NE-BMIASWOPADSAEI ~ The Media – Normalize Economism – By Making It A Standard Way Of Presenting And Discussing Social And Economic Issues

~ FC-WSGWHBACPQ-ERTQFTPSTTAROT-IWT-CLM-PT-P-I-S ~ For Centuries – Who Should Get What Has Been A Central Political Question – Economism Removes The Question From The Political Sphere To The Abstract Realm Of Theory – In Which The – Competitive Labor Market – Provides The – Perfect – Indisputable – Solution

~ OOTCPOEIT-T-A-V-V-B-AU-YCMTAEUAS-A-DD-TITHTDPFWATMSWOIPTSMDETOE ~ One Of The Core Principles Of Economism Is That – Taxes – Are – Very – Very – Bad – As Usual – You Can Make The Argument Easily Using A Supply-And-Demand Diagram – The Idea That Higher Taxes Discourage People From Working And Therefore Make Society Worse Off Is Probably The Single Most Deeply Entrenched Tenet Of Economism

~ MPABUOTTR-MHBFDABNOSCIROR-B-OPR-SA-‘SWILOAE’ ~ Many People Are Blissfully Unaware Of Their Tax Rates – Most Human Beings’ Financial Decisions Are Based Not On Sophisticated Calculations Involving Rates Of Return – But – On Primitive Rules – Such As – “Save Whatever Is Left Over After Expenses”

~ LTRITAOMTTGHTB-RTCATTPS ~ Lower Tax Revenues Increase The Amount Of Money That The Government Has To Borrow – Reducing The Capital Available To The Private Sector

~ TSMST-LITWISAG-DHUTS-LPKMOTSDNAMTTWM ~ The Simple Model Saying That – Lower Investment Taxes Will Increase Savings And Growth – Doesn’t Hold Up To Scrutiny – Letting People Keep More Of Their Salaries Does Not Always Motivate Them To Work More

~ AGISAMBWWOCAOSTWDNTTPSTLAE-AS-TQOWTAWDOWFWEFOGAHWIFT ~ A Government Is Simply A Mechanism By Which We Organize Certain Aspects Of Society That We Do Not Trust The Private Sector To Look After Effectively – And So – The Question Of Whether Taxes Are Worthwhile Depends On What Functions We Expect From Our Government And How Well It Fulfills Them

~ TGPOAWITSTBOWPBIEP ~ The Greatest Power Of A Worldview Is To Set The Boundaries Of What People Believe Is Even Possible

~ ERM-FTP-HBIACWBIAWOE-IFC ~ Economism’s Rosy Model – Failed To Predict – How Both Individuals And Companies Would Behave In A World Of Ever-Increasing Financial Complexity

~ I2008-WRTLTACMDNMETCFTIMPU-I-P-SBLBPACTMTIGIWTDLDAWR-SOATMS ~ In 2008 – We Relearned The Lesson That A Competitive Market Does Not Magically Ensure That Capital Flows To Its Most Productive Uses – Instead – Profit-Seeking Behavior Leads Both People And Companies To Maximize Their Individual Gains In Ways That Distort Lending Decisions And Waste Resources – Sometimes On A Truly Monumental Scale

~ TMTNCALAMCTE-A-CRASTLTETTBWSTNCI ~ The Megabanks That Nearly Collapsed Are Larger And More Complex Than Ever – And – Capital Requirements Are Still Too Low To Ensure That Those Banks Will Survive The Next Crisis Intact

~ IARWLM-TADCCL ~ In A Real-World Labor Market – Trade Agreements Do Create Clear Losers

~ TGAOEHBT-RAPI-AAL-E-T-U-SN-FFSTW ~ The Great Achievement Of Economism Has Been To – Repackage A Political Ideology – As A Lightweight – Easy-To-Use – Seemingly Neutral – Framework For Seeing The World

~ BCTSO-AT-EDTTIADAA-TWSITWII-IYDA-YMNU-E101 ~ By Claiming The Status Of – Absolute Truth – Economism Denies That There Is Any Debate At All – The World Simply Is The Way It Is – If You Don’t Agree – You Must Not Understand – Economics 101

~ EPAIRIOCPI-PCTOAAA-WPOTTM ~ Economism Plays An Important Role In Our Contemporary Political Institutions – Prioritizing Certain Types Of Analyses And Arguments – While Pushing Others To The Margins

~ FASTBR-CMANE-TMAB-PDPI-TPEF-MP-SC-A-SAESOR ~ For A Society To Become Rich – Competitive Markets Are Not Enough – There Must Also Be – Pluralistic Democratic Political Institutions – That Prevent Elites From – Monopolizing Power – Suppressing Competitors – And – Seizing An Excessive Share Of Resources

~ U-IWTA-NW-TDBWTO ~ Ultimately – It Will Take A – New Worldview – To Do Battle With The Old

SANDY HOTCHKISS ~ WHY IS IT ALWAYS ABOUT YOU? ~ 2003

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~ TE ~ They’re Everywhere

~ TINNAN-THAB-V-G-M-C-WHAIPOTALRFO ~ There Is Nothing New About Narcissism – There Have Always Been – Vain – Grasping – Manipulative – Characters – Who Have An Inflated Perception Of Themselves And Little Regard For Others

~ N-INJTIODAA-IIG-MOOLATPFWAFTNP-A-WCWTETE-A-‘EDI’-BTJFCDTP ~ Narcissism – Is Not Just Tolerate In Our Day And Age – It Is Glorified – Many Of Our Leaders And The Public Figures We Admire Flaunt Their Narcissistic Proclivities – And – We Can’t Wait To Emulate Their Excesses – And – “Everybody Does It” – Becomes The Justification For Continuing Down The Path

~ IT-N-S-ISITTMHBDNTEIAA-WPC-‘BS’-LL-S-O-TAOAC-HBAPBO-D-C-B-O-R-TSIDO-AF-TS-9CNB-‘MF’ ~ In The – Narcissist – Shame – Is So Intolerable That The Means Have Been Developed Not To Experience It At All – What Psychologists Call – “Bypassed Shame” – Looks Like – Shamelessness – Or – The Absence Of A Conscience – Hiding Behind A Protective Barrier Of – Denial – Coldness – Blame – Or – Rage – The Shame Is Directed Outward – Away From – The Self – It Can Never Be – “My Fault”

~ TNT-ASAAC-CACDFTN-ALHAWORDOHE-TMTTEIACAO-DAI-WPC-‘MT’ ~ The Need To – Avoid Shame At All Costs – Creates A Continuing Dilemma For The Narcissist – As Life Has A Way Of Regularly Doling Out Humbling Experiences – The Methods They Typically Employ Involve A Considerable Amount Of – Distortion And Illusion – What Psychologists Call – “Magical Thinking”

~ T-FWON-CHA-SA-TPTEYII-S-TSCCBE ~ The – Fantasy World Of Narcissists – Can Have A – Seductive Allure – That Promises To Envelop You In Its – Specialness – Their Superficial Charm Can Be Enchanting

~ SL-AO-N-WCBTBEA-LTTB ~ Sore Losers – Are Often – Narcissists – Who Cannot Bear To Be Exposed As – Less That The Best

~ TNNTSASOS-EAO-WSEATHSTHOSL ~ The Narcissist’s Need To Secure A Sense Of Superiority – Encounters An Obstacle – Whenever Someone Else Appears To Have Something That He Or She Lacks

~ NE-FBTDNTBS-LSMETGOWTN-II-UOD-WMITMMD-UOEEOTNFS-TIMFO-SRC ~ Narcissistic Envy – Fueled By The Desperate Need To Be Superior – Like So Much Else That Goes On Within The Narcissist – It Is – Unconscious Or Denied – Which Makes It That Much More Dangerous – Unaware Of Either Envy Or The Need For Superiority – These Individuals May Feel Only – Self-Righteous Contempt

~ IITNONETSTSFOOVSPOV-B-OEOT-A-O-F-A-C ~ It Is The Nature Of Narcissistic Entitlement To See The Situation From Only One Very Subjective Point Of View – Because – Others Exist Only To – Agree – Obey – Flatter – And – Comfort

~ HHNFLTND ~ Hell Hath No Fury Like The Narcissist Denied

~ NPD-OA-OIOHP-MTFC-FTSFON-YTAMMIWETT-TSD-STCSD-INIT-TCIOWWTCICCOARB ~ Narcissistic Personality Disorder – Only About – One In One Hundred People – Meets The Full Criteria – For This Severe Form Of Narcissism – Yet There Are Many More Individuals Who Exhibit These Traits – To Some Degree – Sufficient To Cause Significant Distress – If Not In Themselves – Then Certainly In Others With Whom They Come In Close Contact On A Regular Basis

~ WTPSFSN-TRAP-SCWTB-COTNP-WOWBMDIRTR-AFSOS ~ When The Parent Suffers From Significant Narcissism – The Results Are Predictable – Some Children Will Themselves Become – Clones Of Their Narcissistic Parents – While Others Will Be Mysteriously Drawn Into Relationships That Require – A Familiar Sacrifice Of Self

~ S-WADTT-L-T-LQ-A-TSWTMUF-WWIIT-GAO-ISW-WTH-WMEUSOTAITLU-UEAB ~ Sometimes – We Are Drawn To Their – Larger-Than-Life Qualities – And – The Special Way They Make Us Feel – When We’re Included In Their – Grandiosity And Omnipotence – In Some Way – When This Happens – We May End Up Sacrificing Ourselves To An Illusion That Leaves Us – Ultimately Empty And Bruised

~ W-YETWOTN-YLYB ~ When – You Enter The Web Of The Narcissist – You Leave Yourself Behind

~ TNEUVOO-NV-TMTOWKUBTTB-PUU-B-TP-D-A-TM ~ The Narcissist Engages Us Via Our Own – Narcissistic Vulnerabilities – The Most Treacherous Ones Will Keep Us Bound To Them By – Pumping Us Up – Between – The Put-Downs – And – The Manipulations

~ NC-D-O-P-UPOTOOP ~ Narcissists Constantly – Dump – Or – Project – Unwanted Parts Of Themselves Onto Other People

~ TNTPWIH-AICFMP-IRIN-YAJAMTAE ~ Try Not To Personalize What Is Happening – Although It Couldn’t Feel More Personal – It Really Is Not – You Are Just A Means To An End

~ YNTFAWT-D-FT-FOD-TNEIY-SIHTTOTPABTYOOTI ~ You Need To Find A Way To – Detach – From The – Feeling Of Diminishment – The Narcissist Evokes In You – Sometimes It Helps To Think Of This Person As Being Two Years Old On The Inside

~ RTUTR-DTTCOETPE-TNHALAT-IKUPU ~ Resist The Urge To Retaliate – Don’t Try To Challenge Or Enlighten This Person Either – The Narcissist Has A Lot At Stake – In Keeping Unconscious Processes Unconscious

~ ER ~ Embrace Reality

~ NWGTGLTAARTESATPFTSTGAO-TRAFT ~ Narcissists Will Go To Great Lengths To Avoid Any Realty That Evokes Shame And To Promote Fantasies That Sustain Their Grandiosity And Omnipotence – They Require Accomplices For This

~ WMUVTTSAOTNIOONFI-IOS-EIALS-ITISMFOL ~ What Makes Us Vulnerable To The Seductive Allure Of The Narcissist Is Our Own Need For Inflation – If Our Self-Esteem Is A Little Shaky – If There Is Something Missing From Our Lives

~ IOHYWTTSOAN-FYOD ~ Instead Of Hitching Your Wagon To The Star Of A Narcissist – Find Your Own Dream

~ SPFWTA-N-WYWTTB ~ See People For Who They Are – Not – Who You Want Them To Be

~ LTAT-IAN-L-C-D-O-H-O-BC-TA-O-SALOC-SOL-YCETBOTREOTSB ~ Learn To Accept That – If A Narcissist – Lies – Cheats – Disrespects – Or– Hurts – Others – Betrays Confidences – Takes Advantage – Or – Shows A Lack Of Compassion – Sooner Or Later – You Can Expect To Be On The Receiving End Of That Same Behavior

~ DFITTOTTSSAYRWSY ~ Don’t Fall Into The Trap Of Thinking That Something Special About Your Relationship Will Spare You

~ DGIARWANTYAGTCT-O-THOSWCBOFFY ~ Don’t Go Into A Relationship With A Narcissist Thinking You Are Going To Change That Person – Or – That He Or She Will Change Because Of Feelings For You

~ TBDATIAEOTNIAGSGOYOWVAAAOYOA ~ The Best Defense Against The Intrusions And Exploitations Of The Narcissist Is A Good Solid Grasp On Your Own Narcissistic Vulnerabilities And An Appreciation Of Your Own Assets

~ PLIRASTMTARAYOGA ~ Practice Living In Reality And Striving To Make That As Rewarding As Your Own Gifts Allow

~ IYCCYOGOYNTI-YMBSITWOYOH ~ If You Can’t Control Your Own Grandiosity Or Your Need To Idealize – You May Be Standing In The Way Of Your Own Happiness

~ IVOB-OBCTAPN-IIAYOR ~ Inevitable Violations Of Boundaries – Our Biggest Clue To Another Person’s Narcissism – Ignore It At Your Own Risk

~ OYHSAB-KI-IYBD-YSTNTYDNNTBTS ~ Once You Have Set A Boundary – Keep It – If You Back Down – You Show The Narcissist That You Do Not Need To Be Taken Seriously

~ CRR ~ Cultivate Reciprocal Relationships

~ OOTBWTCWNITABVIWTITFP-YMAWTATTEIWNT ~ One Of The Best Ways To Cope With Narcissists Is To Avoid Becoming Very Involved With Them In The First Place – You Might Also Want To Avoid The Toxic Environments In Which Narcissists Thrive

~ TYCTRAANANVITP ~ Teach Your Children To Recognize And Avoid Narcissism And Narcissistic Values In Their Peers

~ TAOTKOPOAUTN:TWCPTU-A-TWTCPD ~ There Are Only Two Kinds Of People Of Any Use To Narcissists: Those Who Can Pump Them Up – And – Those Whom They Can Put Down

~ NMB-ME-W-A-A-EP-TMPYA-TMYCGAW ~ Narcissism May Become – More Entrenched – With – Age – And – Expanding Power – The More Powerful You Are – The More You Can Get Away With

~ TEOBATMTNITTYOE ~ The Essence Of Being Able To Manage The Narcissist Is To Transcend Your Own Ego

JOSEPH STIGLITZ ~ THE PRICE OF INEQUALITY ~ 2012

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~ SGVFCTC-TWSST-TWACUT-IMW-T-EAPS-HF-A-T-BWFU ~ Specific Grievances Varied From Country To Country – There Were Some Shared Themes – There Was A Common Understanding That – In Many Ways – The – Economic And Political System – Had Failed – And – That – Both Were Fundamentally Unfair

~ TGBWOEAPSASTD-WWWTTDD-AWTAC-BTLTBI ~ The Gap Between What Our Economic And Political Systems Are Supposed To Do – What We Were Told They Did Do – And What They Actually Do – Became Too Large To Be Ignored

~ TBHTB-T-WGA-WHBTATEED-ACLATSSTTWNAA-TBHITBTW ~ The Bankers Had Taken Bets – That – Without Government Assistance – Would Have Brought Them And The Entire Economy Down – A Closer Look At The System Showed That This Was Not An Accident – The Bankers Had Incentives To Behave This Way

~ TMOINE ~ The Market Obviously Is Not Efficient

~ U-TIOTMTGJFSMC-ITWFOTM-TGSOI-AAMCOI ~ Unemployment – The Inability Of The Market To Generate Jobs For So Many Citizens – Is The Worst Failure Of The Market – The Greatest Source Of Inefficiency – And A Major Cause Of Inequality

~ WHEHAHP ~ We Have Empty Homes And Homeless People

~ WAPAHPFO-I-AESTISSALE-WLG-A-ADTHBPIP ~ We Are Paying A High Price For Our – Inequality – An Economic System That Is Less Stable And Less Efficient – With Less Growth – And – A Democracy That Has Been Put Into Peril

~ TPOMIE-B-THNIMC ~ The Power Of Markets Is Enormous – But – They Have No Inherent Moral Character

~ ATB-MHPACRITSIIPASOLITPTHY-BGHAPAMRITA-AFTF-MATFTA ~ At Their Best – Markets Have Played A Central Role In The Stunning Increases In Productivity And Standards Of Living In The Past Two Hundred Years – But Government Has Also Played A Major Role In These Advances – A Fact That Free-Market Advocates Typically Fail To Acknowledge

~ OTOH-MCACW-PECOTS-A-AWAC ~ On The Other Hand – Markets Can Also Concentrate Wealth – Pass Environmental Costs On To Society – And – Abuse Workers And Consumers

~ TFIPAEAR-ATREO-PHSTM-ASIIWT-ATT-ATEOTR ~ The Failures In Politics And Economics Are Related – And They Reinforce Each Other – Politics Have Shaped The Market – And Shaped It In Ways That – Advantage The Top – At The Expense Of The Rest

~ UMDNWW-AWHS ~ Unfettered Markets Do Not Work Well – As We Have Seen

~ TLOI-A-TAOO-INI-NIIRRSTPOIMF ~ The Level Of Inequality – And – The Absence Of Opportunity – Is Not Inevitable – Nor Is Its Recent Rise Simply The Product Of Inexorable Market Forces

~ IA-ATAM-ATTCTGMMTTTWBE-PBIWLTMG-TIAIC-T-DE-IHALP-AHLBD-HIHNLTMG ~ Inequality’s Apologists – And They Are Many – Argue To The Contrary That Giving More Money To The Top Will Benefit Everyone – Partly Because It Would Led To More Growth – This Is An Idea Called – Trickle-Down Economics – It Has A Long Pedigree – And Has Long Been Discredited – Higher Inequality Has Not Led To More Growth

~ SDIIFTBIP-TETERTTSAA-‘PT’ ~ So Difficult Is It For Those Born Into Poverty To Escape – That Economists Refer To The Situation As A – “Poverty Trap”

~ MOIIDFCCAOI ~ Measures Of Income Inequality Don’t Fully Capture Critical Aspects Of Inequality

~ MOTITETIARO-GP-BWTGDAWIDND-IITROPFAMAOEO ~ Much Of The Inequality That Exists Today Is A Result Of – Government Policy – Both What The Government Does And What It Does Not Do – Inequality Is The Result Of Political Forces As Much As Of Economic Ones

~ TMTMA-TMCTALTB-WGI-CMCEAD ~ The More Transparent Markets Are – The More Competitive They Are Likely To Be – Without Good Information – Capital Markets Can’t Exercise Any Discipline

~ T-WAS-CWI;IC-T-T-‘R’-O-L/NR-WMTD ~ Taxing – Work And Savings – Can Weaken Incentives; In Contrast – Taxing – The – “Rents” – On – Land / Natural Resources – Won’t Make Them Disappear

~ TSWTASMIGTGTGYO ~ The Simplest Way To A Sustainable Monopoly Is Getting The Government To Give You One

~ IOTTWIAFG-IQATBATWTROTG-A-IEW-IYCCYOR ~ It’s One Thing To Win In A Fair Game – It’s Quite Another To Be Able To Write The Rules Of The Game – And – It’s Even Worse – If You Can Choose Your Own Referees

~ ‘RC’-TOTRC-CFARTTSTTASTR-STSW-GWRITP-GC ~ “Regulatory Capture” – Those On The Regulatory Commissions – Come From And Return To The Sector That They Are Supposed To Regulate – Serve The Sector Well – Get Well Rewarded In Their Post-Government Career

~ ITGGYTRT-E-R-F-F-IDTAGTMAF ~ If The Government Grants You The Right To – Extract – Resources – For – Free – It Doesn’t Take A Genius To Make A Fortune

~ OESRP-NMHTM-AIA-M-CE-INSTSMSPTTS ~ Our Economic System Rewards Profits – No Matter How They’re Made – And In A – Money-Centric Economy – It’s Not Surprising To See Moral Scruples Put To The Side

~ TMDOAIS-IC ~ The Major Determinant Of An Individual’s Success – Initial Conditions

~ LIR-LR-A-ADADFS-CTTROTE-FAM ~ Low Interest Rates – Lax Regulations – And – A Distorted And Dysfunctional Financial Sector – Came To The Rescue Of The Economy – For A Moment

~ R-ATROTG-TEC-TPA-TPTTCPT ~ Regulations – Are The Rules Of The Game – To Ensure Competition – To Prevent Abuses – To Protect Those That Cannot Protect Themselves

~ MOTIIOE:TROR-S ~ Much Of The Inequality In Our Economy: The Result Of Rent-Seeking

~ TFSIST-STROTE-NTOWA ~ The Financial Sector Is Supposed To – Serve The Rest Of The Economy – Not The Other Way Around

~ MOT-‘FI’-WDT-CR-AALL-REP ~ Many Of These – “Financial Innovations” – Were Designed To – Circumvent Regulations – And Actually Lowered Long-Run Economic Performance

~ TCBDAWACC ~ There Can Be Destructive As Well As Constructive Competition

~ IF-ATPOF-IP ~ Increasing Fairness – And The Perception Of Fairness – Increases Productivity

~ TSTOEAPSIU-UT-WIEFTFOOS ~ The Sense That Our Economic And Political System Is Unfair – Undermines Trust – Which Is Essential For The Functioning Of Our Society

~ G-ITFITWWAT-C-TSTNP ~ Government – Is The Formal Institution Through Which We Act Together – Collectively – To Solve The Nation’s Problems

~ CATAIIESOS ~ Cooperation And Trust Are Important In Every Sphere Of Society

~ WOU-TROT-IMOEW-O-TIOTSC-TBUT ~ We Often Underestimate – The Role Of Trust – In Making Our Economy Work – Or – The Importance Of The Social Contract – That Binds Us Together

~ SC-ITGTHST ~ Social Capital – Is The Glue That Holds Societies Together

~ OCSH-D-NS-D-A-FAUG ~ One Cannot Simultaneously Have – Democracy – National Self-Determination – And – Full And Unfettered Globalization

~ N-ITHOTP-HSM-GSM-TSF-WWSR-WAAIR ~ Never – In The History Of The Planet – Had So Many – Given So Much – To So Few – Who Were So Rich – Without Asking Anything In Return

~ MH-BBHRAPLTERTBB ~ Moral Hazard – Bank Bailouts Had Repeatedly And Predictably Led To Excessive Risk Taking By Banks

~ RBBHIHCOT ~ Repeated Bank Bailouts Have Imposed High Costs On Taxpayers

~ ATW-TEO-FP-AL ~ Around The World – The Examples Of – Failed Privatizations – Are Legion

~ MOCWIHWTTC ~ Much Of Corporate Welfare Is Hidden Within The Tax Code

~ MCWITISD-ICGOTUOTR-WTBTL ~ Markets Can’t Work If There Isn’t Some Discipline – If Companies Get Only The Upside Of The Risks – With Taxpayer Bearing The Losses

~ WTWIO-DHTBTFCOTA-TWHII-NTIT-A-TTPTAROI ~ When Those Who Injure Others – Don’t Have To Bear The Full Consequences Of Their Actions – They Will Have Inadequate Incentives – Not To Injure Them – And – To Take Precautions To Avoid Risks Of Injury

~ IEPIACBTUD-PCWF ~ If Economic Power In A Country Becomes Too Unevenly Distributed – Political Consequences Will Follow

~ IAD-API-APAIM-ACBIAPI-MHSDOA-OTMSTTINM-ABDAEP ~ In Any Democracy – A Public Institution – And Pretend As It Might – A Central Bank Is A Public Institution – Must Have Some Degree Of Accountability – Oversight To Make Sure That There Is No Malfeasance – A Central Bank’s Decisions Are Essentially Political

~ AWIP ~ Another World Is Possible

~ N-TPOE-TPOEAF ~ Not – The Politics Of Envy – The Politics Of Efficiency And Fairness

MARK MANSON ~ EVERYTHING IS #@%!ED ~ 2019

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~ AYMCCIFFALATDIWU ~ Anything Your Mind Can Conceptualize Is Fundamentally Flawed And Limited And Therefore Damaging If Worshipped Unconditionally

~ TAWH-TNHFB-TBB-ITMATN-A-TN-A-TN ~ To Act Without Hope – To Not Hope For Better – To Be Better – In This Moment And The Next – And – The Next – And – The Next

~ H-IMITGWYWOAAG-H-IIGAV-IAOI-H-IT-A-E-NA-M-TSOE ~ Honesty – Is More Important Than Getting What You Want Or Achieving A Goal – Honesty – Is Inherently Good And Valuable – In And Of Itself – Honesty – Is Therefore – An – End – Not A – Means – To Some Other End

~ G-AC ~ Grown-Ass Children

~ AA ~ Aging Adolescents

~ TAPO-G-AC-ITW-A-TAALOAA ~ There Are Plenty Of – Grown-Ass Children – In The World – And – There Are A Lot Of Aging Adolescents

~ TFPSITT-FC-INL-RVL-B-TICVOT-R-A-L-V-TCA-AO-B-TRAL-INLADO-CVC-O-FVE-B-R-O-MVI-O-MVE ~ The Fundamental Political Schism In The Twenty-First Century – Is No Longer – Right Versus Left – But – The Impulsive Childish Values Of The – Right – And – Left – Versus – The Compromising Adolescent-Adults Of – Both – The Right And Left – It’s No Longer A Debate Of – Communism Versus Capitalism – Or – Freedom Versus Equality – But – Rather – Of – Maturity Versus Immaturity – Of – Means Versus Ends

~ OTOH-W-MM-DTIFOI-ASUT-TOAM-H-ESP-ESD-T-HTB-PRTT-A-TCBG ~ On The Other Hand – When – Marketing Messages – Designed To Induce Feelings Of Inadequacy – Are Scaled Up To – Thousands Of Advertising Messages – Hitting – Every Single Person – Every Single Day – There – Have To Be – Psychological Repercussions To That – And – They Can’t Be Good

~ MPTMIIIHLTIBAD ~ Many Of The Most Important Innovations In History Left Their Inventors Broke And Destitute

~ TOTFOF-TOEFOF-IT-S-L-IINTPOCEYWIYL-BR-CWYWGUIYL-TINO-RF-TIT-OF-YWABATC-WYAWTS-WYAWTGU ~ The Only True Form Of Freedom – The Only Ethical Form Of Freedom – Is Through Self-Limitation – It Is Not The Privilege Of Choosing Everything You Want In Your Life – But Rather – Choosing What You Will Give Up In Your Life – This Is Not Only – Real Freedom – This Is The – Only Freedom – You Will Always Be Able To Choose – What You Are Willing To Sacrifice – What You Are Willing To Give Up

~ U-TMMFIYLCFYC-TTILFWYHCTS ~ Ultimately – The Most Meaningful Freedom In Your Life Comes From Your Commitments – The Things In Life For Which You Have Chosen To Sacrifice

~ TT-IAB-FPWSMD-SM-BI-A-FD-TTA-UTMSC ~ Today’s Tyranny – Is Achieved By – Flooding People With So Much Diversion – So Much – Bullshit Information – And – Frivolous Distraction – That They Are – Unable To Make Smart Commitments

~ DRACOSMAC-TLOTFP-TMWII-FF-TLWWBATUTVNTA-A-F-D-S-T-F ~ Democracy Requires A Citizenry Of Strong Maturity And Character – The Lower Our Tolerance For Pain – The More We Indulge In – Fake Freedoms – The Less We Will Be Able To Uphold The Virtues Necessary To Allow – A – Free – Democratic – Society – To – Function

~ DHF-B-J-B-B-B-MC-MR-MH-MD ~ Don’t Hope For – Better – Just – Be – Better – Be – More Compassionate – More Resilient – More Humble – More Disciplined

JOHN RALSTON SAUL ~ THE UNCONSCIOUS CIVILIZATION ~ 1995

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~ TGLB ~ The Great Leap Backward

~ OTE-IME-B-HMOICTIAUS? ~ Our Technocratic Elite – It Must Exist – But – How Much Of It Can The Industrious Among Us Support?

~ TTO-SE-WCBTOFTLS-IAITS-TSABAWBTARBCAASOW-BOTI ~ The Reaction Of – Sophisticated Elites – When Confronted By Their Own Failure To Lead Society – Is Almost Invariably The Same – They Set About Building A Wall Between Themselves And Reality By Creating An Artificial Sense Of Well-Being On The Inside

~ NWAEBANA-PCG-TM-AHA-T ~ Now We Are Enthralled By A New All-Powerful Clockmaker God – The Marketplace – And His Archangel – Technology

~ OC-TSWFOO ~ Of Course – The Suffering Will Fall On Others

~ HHBFOMAWWHTSOTOAFTS ~ History Has Been Full Of Men And Women Who Had To Sing One Tune Or Another For Their Supper

~ WDLL? ~ Where’s Does Legitimacy Lie?

~ WLIACSWSPTD ~ We Live In A Corporatist Society With Soft Pretensions To Democracy

~ CTDMASIPATCDOSIIADUTE ~ Clearly The Democratic Mechanisms Are Still In Place And The Citizens Do Occasionally Succeed In Imposing A Direction Upon The Elites

~ CR-NMHNADTP-ITFSTCTTWI ~ Confronting Reality – No Matter How Negative And Depressing The Process – Is The First Step Towards Coming To Terms With It

~ WDNCIHRATBCTRFU ~ What Does Not Change In Human Relationships Are The Basic Choices That Repeatedly Face Us

~ AOOM-DWBCBTROTE ~ An Oversupply Of Managers – Dead Weight Being Carried By The Rest Of The Economy

~ G-ITOOMTMPTLOSDKA-TPG ~ Government – Is The Only Organized Mechanism That Makes Possible That Level Of Shared Disinterest Known As – The Public Good

~ TI-LI-S-TITPCO-I-TOQIWFTSWT ~ The Individual – Lives In – Society – That Is The Primary Characteristic Of – Individualism – The Only Question Is What Form That Society Will Take

~ TPWROGSE ~ The Power We Refuse Ourselves Goes Somewhere Else

~ PBSOBHGTTFIIMTBTGAITOPPFTHPO ~ People Become So Obsessed By Hating Government That They Forget It Is Meant To Be Their Government And Is The Only Powerful Public Force They Have Purchase On

~ TC-IRTTSO-ASATFOTTOTM ~ The Citizen – Is Reduced To The Status Of – A Subject At The Foot Of The Throne Of The Marketplace

~ CCAPL ~ Corporatism Cuts Across Political Lines

~ OTPOLCHBA-TMOCTOTBI ~ Once The Principle Of Legalized Corruption Had Been Accepted – The Methods Of Corruption Turned Out To Be Inexhaustible

~ GCTDSTAAHBHBITLRTTPBTPS-OLAFWTS ~ Governments Continue To Deliver Services That Are And Have Been Historically Better In The Long Run Than Those Provided By The Private Sector – Our Lives Are Filled With These Services

~ SIAWOOQ-R-II-POOIOAAFFSAFAOA-IQBI ~ Sensibly Integrated Along With Our Other Qualities – Reason – Is Invaluable – Put Out On Its Own As A Flagship For Society And For All Of Our Actions – It Quickly Becomes Irrational

~ MO-TRTBP-WTRNOS-IABODA-CCTBTPIIOTWTPG ~ Most Of – The Reforms That Brought Prosperity – Were The Result Not Of Self-Interested Action But Of Disinterested Action – Citizens Committing Themselves Beyond Their Personal Interest In Order To Widen The Public Good

~ TM-DN-L-B-O-E-D-H-PR-IITMEWTCB ~ The Market – Does Not – Lead – Balance – Or – Encourage – Democracy – However – Properly Regulated – It Is The Most Effective Way To Conduct Business

~ ASCSTBRTSUGARTOTRTL ~ A Severe Crisis Seems To Be Required To Shake Up Governments And Remind Them Of Their Responsibility To Lead

~ CTTFI? ~ Can The Technology Free Itself?

~ T-DS-F ~ Technology – Doesn’t Seek – Freedom

~ T-LAOEM-CBEHITRC-ICIAOISSP ~ Trade – Like Any Other Economic Mechanism – Can Be Extremely Helpful In The Right Circumstance – It Cannot In And Of Itself Solve Societal Problems

~ P-TKEOG-HBTFGTSTTBFLCOTMC ~ Perhaps – The Key Effect Of Globalization – Has Been To Force Governments To Shift The Tax Burden From Large Corporations Onto The Middle Class

~ TMDITRAOTI-AS-THWAETGAP ~ The Market Disciples Ignore The Repeated Admonition Of Their Idol – Adam Smith – That High Wages Are Essential To Growth And Prosperity

~ MM-UTFRA-A-PI ~ Money Markets – Unrelated To Financing Real Activity – Are – Pure Inflation

~ TUMM-HNGUOTYO-C-I-GS-A-NRW-B-IIGWNOW? ~ The Unregulated Money Markets – Have Now Given Us Over Twenty Years Of – Crisis – Instability – Gratuitous Speculation – And – No Real Growth – But – Is It Growth We Need Or Want?

~ B-L-WIW-ITTTMIPT-IR ~ But – Language – When It Works – Is The Tool That Makes It Possible To – Invoke Reality

~ TDOBAUI ~ The Danger Of Becoming An Unconscious Ideologue

~ C-AITDAUTLOTIATCIAD ~ Corporatism – An Ideology That Denies And Undermines The Legitimacy Of The Individual As The Citizen In A Democracy

T. HARV EKER ~ SECRETS OF THE MILLIONAIRE MIND ~ 2005

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~ YICOGTTEYD ~ Your Income Can Only Grow To The Extent You Do

~ TLTF-FLTA-ALTR ~ Thoughts Lead To Feelings – Feelings Lead To Actions – Actions Lead To Results

~ WTSMMCBDREAL-EWAAW ~ When The Subconscious Mind Must Choose Between Deeply Rooted Emotions And Logic – Emotions Will Almost Always Win

~ IYMFAMOSCFANSRSA-F-A-O-TNTPY-YMWNBYH ~ If Your Motivation For Acquiring Money Or Success Comes From A Non-Supportive Root Such As – Fear – Anger – Or – The Need To Prove Yourself – Your Money Will Never Bring You Happiness

~ CIOYTAASTYCLFTCITPM-RTBRBPFTP ~ Consciousness Is Observing Your Thoughts And Actions So That You Can Live From True Choice In The Present Moment – Rather Than Being Run By Programming From The Past

~ YCCTTIWTWSYIYHASIOWTD ~ You Can Choose To Think In Ways That Will Support You In Your Happiness And Success Instead Of Ways That Don’t

~ MIEIITAIWIW-AEUITAIWID ~ Money Is Extremely Important In The Areas In Which It Works – And Extremely Unimportant In The Areas In Which It Doesn’t

~ WYAC-YBA-L-B-‘C’-M ~ When You Are Complaining – You Become A – Living – Breathing – “Crap” – Magnet

~ TNORMPDGWTWITTDKWTW ~ The Number One Reason Most People Don’t Get What They Want Is That They Don’t Know What They Want

~ IYAN-F-T-A-T-CTCW-CAYW ~ If You Are Not – Fully – Totally – And – Truly – Committed To Creating Wealth – Chances Are You Won’t

~ LEAHOALMMTF ~ Leaders Earn A Heck Of A Lot More Money Than Followers!

~ IYHABPIYL-ATMKTYABASP! ~ If You Have A Big Problem In Your Life – All That Means Is That You Are Being A Small Person!

~ MWOMYMOWYAA ~ Money Will Only Make You More Of What You Already Are

~ HYDAIHYDE ~ How You Do Anything Is How You Do Everything

~ WAT-EF-ARS ~ Where Attention Goes – Energy Flows – And Results Show

~ UYSYCHWYG-YWGAM! ~ Until You Show You Can Handle What You’ve Got – You Won’t Get Any More!

~ THOMYMIMITTA ~ The Habit Of Managing Your Money Is More Important Than The Amount

~ EYCM-OIWCY ~ Either You Control Money – Or It Will Control You

~ AITBBTIWATOW ~ Action Is The Bridge Between The Inner World And The Outer World

~ IINNTTTGROFIOTS ~ It Is Not Necessary To Try To Get Rid Of Fear In Order To Succeed

~ TOTYAAGIWYAU ~ The Only Time You Are Actually Growing Is When You Are Uncomfortable

~ TAMYOMITMISYCEO-ITOBHAS ~ Training And Managing Your Own Mind Is The Most Important Skill You Could Ever Own – In Terms Of Both Happiness And Success

~ EMWOAD ~ Every Master Was Once A Disaster

~ TGPTB-YMBTB ~ To Get Paid The Best – You Must Be The Best

~ TMYL-TMYE ~ The More You Learn – The More You Earn

NAOMI KLEIN ~ THE SHOCK DOCTRINE ~ 2007

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~ DC-OR-O-TPS-ITWO-CE-CW-TTODAEMO ~ Disaster Capitalism – Orchestrated Raids – On – The Public Sphere – In The Wake Of – Catastrophic Events – Combined With – The Treatment Of Disasters As Exciting Market Opportunities

~ DCC ~ Disaster Capitalism Complex

~ CSI ~ Corporate Supremacist Ideology

~ AP-RA-B-AFVLC-A-ACO-MW-P-WHAE-SLBTTG ~ A Powerful – Ruling Alliance – Between – A Few Very Large Corporations – And – A Class Of – Mostly Wealthy – Politicians – With Hazy And Ever-Shifting Lines Between The Two Groups

~ The Ideologies That Long For That Impossible – Clean Slate – Which Can Be Reached Only Through – Some Kind Of Cataclysm – Are The Dangerous Ones

~ T-TITMO-W-P-TMIG ~ Then – There Is The Matter Of – Where – Precisely – The Money Is Going

~ WID-BC ~ When In Doubt – Blame Corruption

~ TPO-ST-ITOUAWF-EPTBMVQ-N-DTL-B-PBOI-CSL-F-CTC-MOASATLCU ~ The Point Of – Shock Therapy – Is To Open Up A Window For – Enormous Profits To Be Made Very Quickly – Not – Despite The Lawlessness – But – Precisely Because Of It – Constantly Shifting Location – From – Crisis To Crisis – Moving On As Soon As The Law Catches Up

~ BCF-LAO-A-TPHABMO-IRJAWO-LTTEPF ~ But Calling For – Law And Order – After – The Profits Have All Been Moved Offshore – Is Really Just A Way Of – Legalizing The Theft Ex Post Facto

~ T-G-R-O-D-T-D ~ The – Get-Rich-Or-Die-Trying – Dystopia

~ TUSO-‘S’-IT-TVMNCBA-TEU-IS-IB-O-ICSC-TA-TD ~ The Ugly Secret Of – “Stablization” – Is That – The Vast Majority Never Climb Back Aboard – They End Up – In Slums – In Brothels – Or – In Cargo Ship Containers – They Are – The Disinherited

~ TTI-TWRDBGAI ~ Then There Is – The Whirling Revolving Door Between Government And Industry

~ NCR ~ No Conspiracies Required

~ THOSMW-B-ATMOTWP-WNAPP-N-O-WIALO ~ The Hoarding Of So Much Wealth – By – A Tiny Minority Of The World’s Population – Was Not A Peaceful Process – Nor – Often – Was It A Legal One

~ OTMOTSDADACU-WCBHTTBS-MDTC-SR ~ Once The Mechanics Of The Shock Doctrine Are Deeply And Collectively Understood – Whole Communities Become Harder To Take By Surprise – More Difficult To Confuse – Shock Resistant

~ TBWT-R-F-H-TOTB-H-HTRTBPOA-CR ~ The Best Way To – Recover – From – Helplessness – Turns Out To Be – Helping – Having The Right To Be Part Of A – Communal Recovery

SANDY HOTCHKISS ~ WHY IS IT ALWAYS ABOUT YOU? ~ 2003

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~ TE ~ They’re Everywhere

~ SL-AO-N-WCBTBEA-LTTB ~ Sore Losers – Are Often – Narcissists – Who Cannot Bear To Be Exposed As – Less That The Best

~ TNNTSASOS-EAO-WSEATHSTHOSL ~ The Narcissist’s Need To Secure A Sense Of Superiority – Encounters An Obstacle – Whenever Someone Else Appears To Have Something That He Or She Lacks

~ HHNFLTND ~ Hell Hath No Fury Like The Narcissist Denied

~ W-YETWOTN-YLYB ~ When – You Enter The Web Of The Narcissist – You Leave Yourself Behind

~ NC-D-O-P-UPOTOOP ~ Narcissists Constantly – Dump – Or – Project – Unwanted Parts Of Themselves Onto Other People

~ TNTPWIH-AICFMP-IRIN-YAJAMTAE ~ Try Not To Personalize What Is Happening – Although It Couldn’t Feel More Personal – It Really Is Not – You Are Just A Means To An End

~ ER ~ Embrace Reality

~ IOHYWTTSOAN-FYOD ~ Instead Of Hitching Your Wagon To The Star Of A Narcissist – Find Your Own Dream

~ SPFWTA-N-WYWTTB ~ See People For Who They Are – Not – Who You Want Them To Be

~ LTAT-IAN-L-C-D-O-H-O-BC-TA-O-SALOC-SOL-YCETBOTREOTSB ~ Learn To Accept That – If A Narcissist – Lies – Cheats – Disrespects – Or – Hurts – Others – Betrays Confidences – Takes Advantage – Or – Shows A Lack Of Compassion – Sooner Or Later – You Can Expect To Be On The Receiving End Of That Same Behavior

~ DFITTOTTSSAYRWSY ~ Don’t Fall Into The Trap Of Thinking That Something Special About Your Relationship Will Spare You

~ DGIARWANTYAGTCT-O-THOSWCBOFFY ~ Don’t Go Into A Relationship With A Narcissist Thinking You Are Going To Change That Person – Or – That He Or She Will Change Because Of Feelings For You

~ PLIRASTMTARAYOGA ~ Practice Living In Reality And Striving To Make That As Rewarding As Your Own Gifts Allow

~ IYCCYOGOYNTI-YMBSITWOYOH ~ If You Can’t Control Your Own Grandiosity Or Your Need To Idealize – You May Be Standing In The Way Of Your Own Happiness

~ IVOB-OBCTAPN-IIAYOR ~ Inevitable Violations Of Boundaries – Our Biggest Clue To Another Person’s Narcissism – Ignore It At Your Own Risk

~ OYHSAB-KI-IYBD-YSTNTYDNNTBTS ~ Once You Have Set A Boundary – Keep It – If You Back Down – You Show The Narcissist That You Do Not Need To Be Taken Seriously

~ CRR ~ Cultivate Reciprocal Relationships

~ TYCTRAANANVITP ~ Teach Your Children To Recognize And Avoid Narcissism And Narcissistic Values In Their Peers

~ TAOTKOPOAUTN:TWCPTU-A-TWTCPD ~ There Are Only Two Kinds Of People Of Any Use To Narcissists: Those Who Can Pump Them Up – And – Those Whom They Can Put Down

~ NMB-ME-W-A-A-EP-TMPYA-TMYCGAW ~ Narcissism May Become – More Entrenched – With – Age – And – Expanding Power – The More Powerful You Are – The More You Can Get Away With

~ TEOBATMTNITTYOE ~ The Essence Of Being Able To Manage The Narcissist Is To Transcend Your Own Ego

ROBERT FRANK ~ THE DARWIN ECONOMY ~ 2011

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~ ITI-NRA-TLUAGWTPTL-MT-OBOITTTCOTW-DTMVFOM ~ If There Is – No Realistic Alternative – To Living Under A Government With The Power To Levy – Mandatory Taxes – Our Best Option Is To Try To Create One That Will – Deliver The Most Value For Our Money

~ ATOAA-NOGR-B-A-DTA ~ A Tax On Any Activity – Not Only Generates Revenue – But – Also – Discourages The Activity

~ AA-RD-‘SE’-AT-‘COB’-‘SOC’-A-‘CTWWLOL’-B-IAVC-B-VE-LAR-C-SE ~ Antigovernment Activists – Reliably Denounce – “Social Engineering” – Attempts To – “Control Our Behaviour” – “Steer Our Choices” – And – “Change The Way We Live Our Lives” – But – It’s A Vacuous Compliant – Because – Virtually Every – Law And Regulation – Constitutes – Social Engineering

~ LAHAT-O-SL-SS-TL-SE-I-I-SB-NS-IWOLPTCUHTO ~ Laws Against Homicide And Theft – Noise Ordinances – Speed Limits – Stop Signs – Traffic Lights – Social Engineering – Is – Inescapable – Simply Because – Narrow Self-Interest Would Otherwise Lead People To Cause Unacceptable Harm To Others

~ EDRBTHAIODLTWMRBTUO ~ Every Dollar Raised By Taxing Harmful Activities Is One Dollar Less That We Must Raise By Taxing Useful Ones

~ WGS-OC-SBCWP ~ Wasteful Government Spending – Of Course – Should Be Cut Whenever Possible

~ IETSH-S-WCPITGHNUM-MSNHIACWLIITTAH-AIFWDCATMOTGATH-OPOP ~ It’s Easy To See How – Someone – Whose Core Philosophy Is That Government Has No Useful Mission – Might See No Harm In Appointing Cronies With Little Interest In The Task At Hand – Appointing Incompetent Friends Who Don’t Care About The Mission Of The Government Agencies They Head – Often Plays Out Poorly

~ TSFWT-EPW-ISIII-PW-IAMETET-PW ~ The Search For Ways To – Eliminate Private Waste – Is Still In Its Infancy – Private Waste – Is Actually Much Easier To Eliminate Than – Public Waste

~ TIP-ITTUDA-WRMS-SHO-PPQ-ATEOPRR-SATAPOIFDHASQ ~ The Important Point – Is That The Ultimate Decision About – Whether Regulation Makes Sense – Should Hinge On – Purely Practical Questions – About The Efficacy Of Proposed Regulatory Remedies – Slogans About The Absolute Primacy Of Individual Freedom Don’t Help Answer Such Questions

~ ICBAI? ~ Is Cost Benefit Analysis Immoral?

~ DAGR-EBCAB-ITE-QRWSRTDAQPO-WRSWD? ~ Defending Any Given Right – Entails Both Costs And Benefits – In The End – Questions Regarding Which Specific Rights To Defend Are Quintessentially Practical Ones – Which Rights Should We Defend?

~ DAGRCBFTWVI-B-IAGC-NJFTTWETR-BA-FTWBIRBI ~ Defending Any Given Right Creates Benefits For Those Who Value It – But – It Also Generates Costs – Not Just For Those Tasked With Enforcing The Right – But Also – For Those Whose Behavior Is Restricted By It

~ TITMTWPWPFBT ~ The Infrastructure That Made Their Wealth Possible Was Paid For By Taxes

~ TOAT-SE-I-CA ~ The Only Alternative To – Social Engineering – Is – Complete Anarchy

~ AT-RMF-HBAC-IOI-FO-HSFTB-U-MOTAHBCBMPABEOTPS-APWBML-I-WCA-I-FV-A-TRBSAM ~ Attempts To – Remedy Market Failure – Have Been A Central – If Often Implicit – Focus Of – Human Societies From The Beginning – Unfortunately – Many Of Those Attempts Have Been Compromised By Misguided Perceptions At Both Ends Of The Political Spectrum – Additional Progress Will Be More Likely – If – We Can Abandon – Ill-Founded Views – About – The Relationship Between Success And Merit

~ IWTOBTAATSUPCSTRBTU-IAINTRA ~ If We Think Of Being Taxed As Akin To Some Unknown Person Confiscating Something That Rightfully Belongs To Us – It’s Almost Impossible Not To React Angrily

~ IPTTOTROGLITOS-TATTOTROBLIOF ~ If People Tend To Overlook The Role Of Good Luck In Their Own Success – They Also Tend To Overlook The Role Of Bad Luck In Others’ Failures

~ TPFITTWJL ~ The Plan Fact Is That They Were Just Lucky

~ TPFPTPHANRTKTFBTTAECITLM-GTETWIROPIFBT-TPHNMMS ~ The Prevailing Framework Presumes That People Have A Natural Right To Keep The Full Bounty Their Talents And Efforts Command In The Labor Market – Given The Extent To Which Incomes Rest On Public Investment Financed By Taxes – That Presumption Has Never Made Much Sense

~ WHNPRTBT-HTOTEWIEG-TCIOR-A-SQ ~ We Have No Persuasive Reasons To Believe That – Higher Taxes On Top Earners Would Inhibit Economic Growth – This Claim Is Often Repeated – And – Seldom Questioned

~ IWC-TTR-TNHORTRWN-B-TGN-IT-CTCBLOTEWHTIIAW ~ If We Can’t – Tax The Rich – There’s No Hope Of Raising The Revenue We’ll Need – But – The Good News – Is That – Certain Taxes Can Be Levied On Top Earners Without Harming Their Interest In Any Way

~ TOHACTBKA-PT ~ Taxes On Harmful Activities Came To Be Known As – Pigouvian Taxes

~ TPOAPTGHSESRTC ~ The Price Of Any Product That Generates Harmful Side Effects Should Reflect Their Cost

~ MPSDHV ~ Many Public Services Deliver High Value

~ TPSOO-PP-IRDHB-ACOS-T-CMTTNOTACWF ~ The Primary Source Of Our – Political Paralysis – In Recent Decades Has Been – A Collection Of Slogans – That – Completely Misrepresent The True Nature Of The Actual Choices We Face

~ PA-WABC-U-APSFATCHTO-A-RE ~ Personal Autonomy – Will Always Be Compromised – Unless – All Problems Stemming From Activities That Cause Harm To Others – Are – Resolved Efficiently

~ T-BL-ITI-SR-DMT-TEP-ALAP-TSAOTE-TPAOEC ~ The – Bottom Line – Is That If – Society’s Rules – Don’t Make The – Total Economic Pie – As Large As Possible – They Squander An Opportunity To Enhance – The Personal Autonomy Of Every Citizen

~ B-GG-DJH-IMBNC-STB-R-SHHUFTKOSMOUWTLI ~ But – Good Government – Doesn’t Just Happen – It Must Be Nurtured Carefully – Starve The Beast – Rhetoric – Surely Hasn’t Helped Us Forge The Kind Of Society Most Of Us Want To Live In

~ ANOW-AGTTTREB-ATEGWFOO-BTCRH-TOCEAOTO-IWTTDTBWTLTP ~ Almost No One Wants – A Government That Tries To Regulate Every Behavior – A Truly Effective Government Would Focus Only On – Behaviors That Cause Real Harm – That Others Cannot Easily Avoid On Their Own – It Would Try To Discourage Those Behaviors With The Lightest Touch Possible

JAMES KWAK ~ ECONOMISM ~ 2017

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~ BEATROI ~ Bad Economics And The Rise Of Inequality

~ RARWQTSM-A-ATITST-ITS-EILAI ~ Reducing All Real-World Questions To Simple Models – And – Answering Them In The Same Terms – In This Sense – Economism Is Like An Ideology

~ TAOETPA-AS-RT-RD-IOSOIS ~ The Ability Of Economism To Pass As – Abstract Science – Rather Than – Rhetorical Device – Is One Source Of Its Strength