Month: September 2021

CASS SUNSTEIN ~ ANTI-CATASTROPHE PRINCIPLE – FOUR QUALIFICATIONS ~ LAWS OF FEAR ~ 2005

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~ ATTFROSR-IMNSTTSTACITVSWCCROTO ~ Attentive To The Full Range Of Social Risks – It Makes No Sense To Take Steps To Avert Catastrophe If Those Very Steps Would Create Catastrophic Risks Of Their Own

~ ATTIO-C-E-WRRTCTLCMOATE ~ Attentive To The Idea Of – Cost-Effectiveness – Which Requires Regulators To Choose The Least Costly Means Of Achieving Their Ends

~ DCM-AIAWTREBOTLATBT ~ Distribution Considerations Matter – Applied In A Way That Reduces Extreme Burdens On Those Least Able To Bear Them

~ CMAS-TEOPCRBDFTE ~ Costs Matter As Such – The Extent Of Precautions Cannot Reasonably Be Divorced From Their Expense

CASS SUNSTEIN ~ LIBERTARIAN PATERNALISM ~ LAWS OF FEAR ~ 2005

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~ T-LA-OTSLITSIT-IG-PSBFTOOOSAITCTDS ~ The – Libertarian Aspect – Lies In The Straightforward Insistence That – In General – People Should Be Free To Opt Out Of Specified Arrangements If Hey Choose To Do So

~ T-PA-CITCTIILFPAPITATIPB-EWT-PEAA-ITU-APTCA-‘P’-IIATITCOAPIAWTWMCBO-ISCIMIDITOTOW-DTTWCITH-CI-UCA-A-NLOS-C-H-LP-PTBRTBEAIF ~ The – Paternalistic Aspect – Consists In The Claim That It Is Legitimate For Private And Public Institutions To Attempt To Influence People’s Behavior – Even When Third-Party Effects Are Absent – In This Understanding – A Policy Therefore Counts As – “Paternalistic” – If It Attempts To Influence The Choices Of Affected Parties In A Way That Will Make Choosers Better Off – In Some Cases Individuals Make Inferior Decisions In Terms Of Their Own Welfare – Decisions That They Would Change If They Had – Complete Information – Unlimited Cognitive Abilities – And – No Lack Of Self-Control – Hence – Libertarian Paternalism – Promises To Be Responsive To Both Excessive And Insufficient Fear

~ LP-IAR-WAN-TOP-B-CANBOFO-IIMCF-LP-I-TC-OTWSTDFT-PPO ~ Libertarian Paternalism – Is A Relatively – Weak And Nonintrusive – Type Of Paternalism – Because – Choices Are Not Blocked Or Fenced Off – In Its Most Cautious Forms – Libertarian Paternalism – Imposes – Trivial Costs – On Those Who Seek To Depart From The – Planner’s Preferred Option

~ WAOOT-PTFASBTD-AA-ESC-ITRWT-ITCROATC? ~ Would Any One Object To – Putting The Fruit And Salad Before The Desserts – At An – Elementary School Cafeteria – If The Result Were To – Increase The Consumption Ratio Of Apples To Candy?

~ TPTICSBR-IOBOTCT-PDAEJOMCO-AL-TTDAFBJTTPCPD-B-TILESFTC ~ The Presumption That Individual Choices Should Be Respected – Is Often Based On The Claim That – People Do An Excellent Job Of Making Choices – Or – At Least – That They Do A Far Better Job Than Third Parties Could Possibly Do – But – There Is Little Empirical Support For This Claim

~ DR-OSK-A-I-A-MOTTTRWA-PAC-POL-W-FP-A-SP-HICF-BAC ~ Default Rules – Of Some Kind – Are – Inevitable – And – Much Of The Time Those Rules Will Affect – Preferences And Choices – People Often Lack – Well-Formed Preferences – And – Starting Points – Have Important Consequences For – Behavior And Choice

~ I-FP ~ Ill-Formed Preferences

~ I-US-W-FP-AEUTE ~ In – Unfamiliar Situations – Well-Formed Preferences – Are Especially Unlikely To Exist

~ TIOP-TINWTAEOBAC-TTFTCLI-ITMOSE-T-P-FOC-T-PCEAT-PSO ~ The Inevitability Of Paternalism – There Is Not Way To Avoid Effects On Behavior And Choices – The Task For The Committed Libertarian Is – In The Midst Of Such Effects – To – Preserve – Freedom Of Choice – That – People Can Easily Avoid The – Paternalist’s Suggested Option

~ SLA-PI-CBEABTWSTAACOTO-TDEBAAM ~ So Long As – Paternalistic Interventions – Can Be Easily Avoided By Those Who Seek To Adopt A Course Of Their Own – The Dangers Emphasized By Antipaternalist Are Minimal

~ TWMT-SS-A-A-ATEOAS-CP-ALFP-B-IP-SF-S-CP-TIIHLTOPDT ~ Those Who Make The – Slippery Slope – Argument – Are – Acknowledging The Existence Of A Self-Control Problem – At Least For Planners – But – If Planners – Suffer From Self-Control Problems – Then It Is Highly Likely That Other People Do Too

~ TG-SBT-A-R-I-A-O-H-E-A-TPASTILT-PPW-SD ~ The Goal – Should Be To – Avoid – Random – Inadvertent – Arbitrary – Or – Harmful – Effects – And – To Produce A Situation That Is Likely To – Promote People’s Welfare – Suitably Defined

CASS SUNSTEIN ~ LAWS OF FEAR ~ 2005

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~ SPAFWTONTB-A-STAFWTSBF-IDN-TLRTPF-AAR-TLCBLIUAEDD ~ Sometimes People Are Fearful When They Ought Not To Be – And – Sometimes They Are Fearless When They Should Be Frightened – In Democratic Nations – The Law Responds To People’s Fears – As A Result – The Law Can Be Led In Unfortunate And Even Dangerous Directions

~ ‘RP’-PALRI-G-C-E-N ~ “Risk Panics” – Play A Large Role In – Groups – Cities – Even – Nations

~ W-FS-MIPFPTAAWAIN-A-UFTTAAWAII ~ Well-Functioning Societies – Make It Possible For People To Achieve Agreement When Agreement Is Necessary – And – Unnecessary For Them To Achieve Agreement When Agreement Is Impossible

~ DD-DBITAFTLQATTOACFPWDO-O-AUA-HTRTQ-ITCOF-IIOPTOJSAC ~ Deliberative Democracies Do Best If They Abstract From The Largest Questions And Try To Obtain A Consensus From People Who Disagree On – Or – Are Unsure About – How To Resolve Those Questions – In The Context Of Fear – It Is Often Possible To Obtain Just Such A Consensus

~ T-PP-TMF-B-IAOT-TAIITRSTSTPAPH-EICCAUAEIWDNKTTHWCTF ~ The – Precautionary Principle – Takes Many Forms – But – In All Of Them – The Animating Idea Is That Regulators Should Take Steps To Protect Against Potential Harms – Even If Causal Chains Are Unclear And Even If We Do Not Know That Those Harms Will Come To Fruition

~ HB-C-A-N-OSOOOAFSRA-‘S’-A-IO ~ Human Beings – Cultures – And – Nations – Often Single Out One Or A Few Social Risks As – “Salient” – And – Ignore The Others

~ T-AH-WPLSK-TCRTBSITCETOIIWTRCTF ~ The – Availability Heuristic – When People Lack Statistical Knowledge – They Consider Risks To Be Significant If They Can Easily Think Of Instances In Which Those Risks Came To Fruition

~ T-PP-MWBRAA-A-CP-DFSCIWIINPTAPTPCR ~ The – Precautionary Principle – Might Well Be Reformulated As An – Anti-Catastrophe Principle – Designed For Special Circumstances In Which It Is Not Possible To Assign Probabilities To Potentially Catastrophic Risks

~ EWEAIE-WC-TTCOAIOTASOTR ~ Especially When Emotions Are Intensely Engaged – Worst Cases – Tend To Crowd Out An Investigation Of The Actual Size Of The Risk

~ ‘LP’-AATSPIDTWPTW-WFTOC ~ “Libertarian Paternalism” – An Approach That Steers People In Directions That Will Promote Their Welfare – Without Foreclosing Their Own Choices

~ EE-ATSPEP-AMBT-‘WTP’ ~ Economic Efficiency – Attempts To Satisfy People’s Existing Preference –As Measured By Their – “Willingness To Pay”

~ HMPITRAOP? ~ How Much Precaution Is The Right Amount Of Precaution?

~ AGDOE-STPT-A-ER-CH-AEOLAH-PPAEVTTE-TBS-BTPATUMAD ~ A Great Deal Of Evidence – Suggests The Possibility That – An – Expensive Regulation – Can Have – Adverse Effects On Life And Health – Poor People Are Especially Vulnerable To This Effect – To Be Sure – Both The Phenomenon And The Underling Mechanism Are Disputed

~ T-AH-W-P-ATMORBAWECRCTM-IPCETOSE-TAFMLTBFTITC-TPI-T-AH-CLTSE-ITOB-EF-A-N ~ The – Availability Heuristic – When – People – Assess The Magnitude Of Risks By Asking Whether Examples Can Readily Come To Mind – If People Can Easily Think Of Such Examples – They Are Far More Likely To Be Frightened Than If They Cannot – The Problem Is – The – Availability Heuristic – Can Lead To Serious Errors – In Terms Of Both – Excessive Fear – And – Neglect

~ PN-B-S-PWALAOPAA-EWSEAI ~ Probability Neglect – But – Sometimes – People Will Attempt Little Assessment Of Probability At All – Especially When Strong Emotions Are Involved

~ LA-PTTB-LA-WMT-ALFT-SQ-ISA-MU-TAGISAD ~ Loss Aversion – People Tend To Be – Loss Averse – Which Means That – A Loss From The – Status Quo – Is Seen As – More Undesirable – Than A Gain Is Seen As Desirable

~ SQB-T-SQ-MTBAWGALAM-A-AL-FT-SQ-SMMBTAGFT-SQ-SG ~ Status Quo Bias – The – Status Quo – Marks The Baseline Against Which Gains And Losses Are Measured – And – A Loss – From The – Status Quo – Seems Much More Bad Than A Gain From The – Status Quo – Seems Good

~ PAFMWTT-FR-T-UO-EITA-SE ~ People Are Far More Willing To Tolerate – Familiar Risks – Than – Unfamiliar Ones – Even If They Are – Statistically Equivalent

~ A-RA-ONA-EH-INASGF-DC-EWABFAECAWAB ~ A – Risk Assessment – Offering Numbers About – Expected Harms – Is Not A Sufficient Ground For – Democratic Choice – Even When Accompanied By Figures About Expected Costs As Well As Benefits

~ WEKARTIO-B-DNPTTAPTE-IISTFT-MP:CTPWT-B-WC-O ~ When Existing Knowledge Allows Regulators To Identify Outcomes – But – Does Not Permit Them To Assign Probabilities To Each – It Is Standard To Follow The – Maximin Principle: Choose The Policy With The – Best – Worst-Case – Outcome

~ SSAR-B-MAN-W-AE-O-AS-I-‘R’-CBDITA-IAC-RIAMOD-EDOTF-T-‘RP’-SBUAAH-OTFIITFOPDTC-LMH-T-RP-WWWIMC-B-ICALTSAEDE ~ Some Systems Are Resilient – But – Many Are Not – Whether – An Ecosystem – Or – A Society – Is – “Resilient” – Cannot Be Decided In The Abstract – In Any Case – Resilience Is A Matter Of Degree – Everything Depends On The Facts – The – “Resilience Principle” – Should Be Understood As A Heuristic – One That Favors Inaction In The Face Of Possibly Damaging Technological Change – Like Most Heuristics – The – Resilience Principle – Will Work Well In Many Circumstances – But – It Can Also Lead To Systematic And Even Deadly Errors

~ ABAWATAWVOAEMCF-I-R-A-EB-ASAWAT-C-RTT-E-TVCLTPFITAR-AETPAFAOTUODSAHTDTDO-I-GM ~ A Better Approach Would Acknowledge That A Wide Variety Of Averse Effects May Come From – Inaction – Regulation – And – Everything Between – A Sensible Approach Would Attempt To – Counteract – Rather Than To – Embody – The Various Cognitive Limitations That People Face In Thinking About Risks – An Effort To Produce A Fair Accounting Of The Universe Of Dangers Should Also Help To Diminish The Dangers Of – Interest-Group Manipulation

~ PA-IIII-IIAH-A-IILTLTAH-‘RE’ ~ Public Alarm – Even If Ill Informed – Is Itself A Harm – And – It Is Likely To Lead To Additional Harms – “Ripple Effects”

~ WTP ~ Willingness To Pay

~ PA-ITVALP-A-IA-MOTT-WTAITDOT-‘S’-O-T-‘U’ ~ People Are – Insensitive To Variations Among Low Probabilities – And – Instead Ask – Much Of The Time – Whether They Are In The Domain Of The – “Safe” – Or – The – “Unsafe”

~ W-CSHTP ~ Worst-Case Scenarios Have Tremendous Power

~ C-S-AAS-ST-SB-O-C-IW-ARAAGE-MRFOPTA-U-C-CLPIMD-WAF-‘EM’-S-SFTDNMR ~ Cascades – Sometimes – Availability And Salience – Spread Through – Social Bandwagons – Or – Cascades – In Which – Apparently Representative Anecdotes And Gripping Examples – Move Rapidly From One Person To Another – Unfortunately – Cascades – Can Lead People In Mistaken Directions – With A Few – “Early Movers” – Spurring – Social Fear That Does Not Match Reality

~ F-IA-W-HEV-A-ELTS ~ Fear-Inducing Accounts – With – High Emotional Valence – Are – Especially Likely To Spread

~ GP-WIOITCO-F ~ Group Polarization – Will Inevitably Occur In The Context Of – Fear

~ B-IAS-MB-FONOTR-A-S-NRD ~ Both – Individuals And Societies – May Be – Fearful Of Nonexistent Or Trivial Risks – And – Simultaneously – Neglect Real Dangers

~ WCF-CRTWPCBA-IMSFTTA-A-CP ~ When Citizens Face – Catastrophic Risks To Which Probabilities Cannot Be Assigned – It Makes Sense For Them To Adopt An – Anti-Catastrophe Principle

~ WTW-CSITC-A-WPCBA-AL-MOS-MAGDOS ~ Where The Worst-Case Scenario Its Truly Catastrophic – And – When Probabilities Cannot Be Assigned – A Large – Margin Of Safety – Makes A Great Deal Of Sense

~ MOS ~ Margins Of Safety

~ IG-IIBTTPATDTTF-WTLOH? ~ In General – Isn’t It Best To Tell People About The Dangers That They Face – Whatever The Likelihood Of Harm?

~ AAOCAB-IAIIIT-AOR ~ An Accounting Of – Costs And Benefits – Is An Important Ingredient In The – Analysis Of Risks

~ W-F-LS-MWPFTITI ~ Well-Functioning – Legal Systems – Make Wrongdoers Pay For The Injuries They Inflict

~ TPE ~ Third Party Effects

~ T-OPS-A-U-W-TBIBLANWS ~ The – Ordinary Political Safeguards – Are – Unreliable – When – The Burdens Imposed By Law Are Not Widely Shared

~ ITCO-TTNS-IIPT-GWIOCLWAJ-HOCE ~ In The Context Of – Threats To National Security – It Is Predictable That – Governments Will Infringe On Civil Liberties Without Adequate Justification – History Offers Countless Examples

OWEN JONES ~ THE ESTABLISHMENT ~ 2014

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~ T-E-INU-AIHAB-O-PG-TNTPTPIADIWATEAPHTRTV-TE-RAAOBOTGT-‘M’-D-TMSTIDNTTOI ~ Today’s – Establishment – Is Made Up – As It Has Always Been – Of – Powerful Groups – That Need To Protect Their Position In A Democracy In Which Almost The Entire Adult Population Has The Right To Vote – The Establishment – Represents An Attempt On Behalf Of These Groups To – “Manage” – Democracy – To Make Sure That It Does Not Threaten Their Own Interests

~ TSIOTME-ASOITHITRAJIPAB-ODA-‘N-L’-TDBOAFOCOTMCTSQ-TIIORA-‘F’-P-‘EF’-A-WIITLOI ~ The Shared Ideology Of The Modern Establishment – A Set Of Ideas That Helps It To Rationalize And Justify Its Position And Behavior – Often Described As – “Neo-Liberalism” – The Driving Back Of Any Form Of Collective Organization That Might Challenge The Status Quo – This Ideology Is Often Rationalized As – “Freedom” – Particularly – “Economic Freedom” – And – Wraps Itself In The Language Of Individualism

~ AWASM-TEICB-FL-A-A-‘RD’-C:TI-PI-GB-P/C/M-W-O-WMTITVWATST ~ As Well As Shared Mentality – The Establishment Is Cemented By – Financial Links – And – A – “Revolving Door” – Culture: That Is – Powerful Individuals – Gliding Between – Political / Corporate / Media – Worlds – Or – Who Manage To Inhabit These Various Worlds At The Same Time

~ YTIALFATHOET-IMATS-B-IICDOTSTF-BOB-S-FI-POP-RAD-AWEAGPE-TTUOWTLTLO-NS-AEOWCBDA-‘SFTR’

~ Yet There Is A Logical Flaw At The Heart Of Establishment Thinking – It May Abhor The State – But – It Is Completely Dependent On The State To Flourish – Bailed Out Banks – State-Funded Infrastructure – Protection Of Property – Research And Development – A Workforce Educated At Great Public Expense – The Topping Up Of Wages Too Low To Live On – Numerous Subsidies – All Examples Of What Could Be Described As – “Socialism For The Rich”

~ TEDNRTSID-AA-IITJOTMTSLOTBOTWP-I-JAPA-OCAATBOTATBOS ~ The Establishment Does Not Receive The Scrutiny It Deserves – After All – It Is The Job Of The Media To Shed Light On The Behaviour Of Those With Power – Instead – Journalists And Politicians Alike – Obsessively Critique And Attack The Behaviour Of Those At The Bottom Of Society

~ EAAWREIHBLDOOTIM ~ Economists And Academics Who Reject Establishment Ideology Have Been Largely Driven Out Of The Intellectual Mainstream

~ A-IR-C-HTDAAF-TP ~ Anti-Immigrant Rhetoric – Conveniently – Helps To Deflect Attention Away From – The Powerful

~ T-‘BIWI’-I-TPTE-AEMUDOWLTWPFTTHERTEGSOI ~ The – “Because I’m Worth It” – Ideology – That Permeates The Establishment – An Ever More Unequal Distribution Of Wealth Leaves Those With Power Feeling That They Have Every Right To Ever Greater Slices Of It

~ TEHR-UAU-FTL ~ The Establishment Has Remained – Unaccountable And Unchallenged – For Too Long

~ TO ~ The Outriders

~ GM-I-F-MG-TJ-RTWOTE ~ Government Minsters – Invoke – Free-Market Globalization – To Justify – Resisting The Will Of The Electorate

~ PHBACSFTP ~ Politics Has Become A Closed Shop For The Privileged

~ TMPACR-B-FTFATATB-OWCBO-D/M/OL-T-DS-FT-WAP-E-ATTOS-HAS-GT-TOATPOTE ~ The Media Play A Crucial Role – By – Focusing Their Fire At Those At The Bottom – Often With Coverage Based On – Distortions / Myths / Outright Lies – They – Deflect Scrutiny – From The – Wealthy And Powerful – Elite – At The Top Of Society – Hardly A Surprise – Given That ~ Their Owners Are Themselves Part Of That Elite

~ BOHABWTAR-MOTMTSAAHPDOTIOTWWAP ~ Because Of How And By Whom They Are Run – Much Of The Media Today Serves As A Highly Partisan Defender Of The Interests Of Those With Wealth And Power

~ TWHBI-C-MTETHAFAAW-TWSOOLFBTAWBAMT ~ The Workforce Has Become Increasingly – Causalized – Making Them Easy To Hire And Fire At A Whim – Those Who Step Out Of Line Face Being Tossed Aside With Barely A Moment’s Thought

~ TUOTPAAPFBTPGBALW ~ The Use Of The Police As A Partisan Force By The Powerful Goes Back A Long Way

~ TPHBTTT-W-CP-AT-‘EW’ ~ The Police Had Been Trained To Treat – Working-Class People – As The – “Enemy Within”

~ TNEPT-STIF-AY-IHBEMA-HMAMPTTP-LWSLI-W-MTCDOD ~ The New Establishment Promised To – Set The Individual Free – And Yet – It Has Become Ever More Authoritarian – Handing More And More Power To The Police – Laws With Seemingly Laudable Intentions – Were – Manipulated To Crack Down On Dissent

~ PA-BTECTHRBTFOTS-IAF-TSTUTE-P-OC-TIAOTEB ~ Police Authoritarianism – Belied The Establishment’s Claims To Have Rolled Back The Frontiers Of The State – In Actual Fact – The State Thrives Under The Establishment – Providing – Of Course – That It Acts On The Establishment’s Behalf

~ TE-F-MI-IOLMTAFF-PPAIPHATEOS ~ The Establishment’s – Free-Market Ideology – Is Often Little More Than A Front For – Placing Public Assets In Private Hands At The Expense Of Society

~ S-BW-TSPOPR-EB-AEPALS ~ Statism – Begins With – The State’s Protection Of Property Rights – Enforced By – An Expensive Police And Legal System

~ OA-TTSTR-W-TPWP-TGSAH-TTIETPUTT ~ Once Again – The Taxpayer Shouldered The Risk – While – The Profit Was Privatized – These Government Subsidies Are Huge – The Taxpayer Is Expected To Pick Up The Tab

~ TMOAS:BOOTB-AFSOAS-FL-SM-TSITTST-TRTINB ~ The Mother Of All Subsidies: Bailing Out Of The Banks – A Financial System On A State-Fuelled Life-Support Machine – The State Is There To Support Them – To Rescue Them If Needs Be

~ RAD-HB-N-A-CBTP-WTPEAP ~ Risk And Debt – Have Been – Nationalized – And – Carried By The Population – While The Profitable Elements Are Privatized

~ W-TS-IP-IIBAMFSFPC-APSR-WTR-‘S’-ATBF-N-ATBOS-B-ATT ~ With – The State – Increasingly Privatized – It Is Becoming A Mere Funding Stream For Private Companies – A Publicly Subsidized Racket – Were The Real – “Scroungers” – Are To Be Found – Not – At The Bottom Of Society – But – At The Top

~ TAT-D ~ Tycoons And Tax-Dogers

~ RCBCSAFTW ~ Rights Can Be Casually Striped Away From The Workforce

~ IWBT-WP-W-PUTTFTC-N-TRFI-A-WLCTA ~ It Would Be The – Working People – Who – Picked Up The Tab For The Crisis – Not – Those Responsible For It – And – With Little Calling To Account

~ HTTAIR:TCSBBOATCM ~ Here’s The Thing About Ideological Rationales: They Can Sometimes Be Based On All Too Convenient Mirages

~ TMEHB-F-TAUD-RDMGWTPOTF ~ The Modern Establishment Has Been – Financialized – To An Unprecedented Degree – Restoring Democracy Means Grappling With The Power Of The Financiers

~ ABRFSTISSTBDDBFC ~ A Badly Regulated Financial Sector That Is So Susceptible To Being Dragged Down By Foreign Crises

~ ‘GI’-CJ-CT-PET-O-CC-A-ETATF ~ “Green Industries” – Creating Jobs – Confront The – Potentially Existential Threat – Of – Climate Change – And – End The Addiction To Finance

~ A-DRW-DTPO-BM-FP-T ~ A – Democratic Revolution Would – Drive The Power Of – Big Money – From Politics – Too

~ PISAEW-CPWEOTSOITGASDNTT-SA-FW-UB-CC-A-SO ~ Politics Increasingly Sidelines And Excludes Working-Class People With Experience Of The Sorts Of Issues That Government And Society Desperately Need To Tackle – Such As – Falling Wages – Unpaid Bills – Childcare Costs – And – So On

~ AT-WW-LSAF-PAABFTPI-ATMABEATEOS-A-TH-WGO-WP-SS-RITW-A-SO-AB-SA ~ Across The – Western World – Living Standards Are Falling – Public Assets Are Being Flogged To Private Interest – A Tiny Minority Are Being Enriched At The Expense Of Society – And – The Hard-Won Gains Of – Working People – Social Security – Rights In The Workplace – And – So On – Are Being – Stripped Away

~ TMO-‘TINA’-I-P-TWADKOS-WB-I-M-A-BAINB ~ The Mantra Of – “There Is No Alternative” – Is – Pervasive – Those Wanting A Different Kind Of Society – Will Be – Ignored – Marginalized – And – Bitterly Attacked If Needs Be

~ TIOEEITIIP ~ The Illusion Of Every Era Is That It Is Permanent

RICHARD THALER ~ MISBEHAVING ~ 2015

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~ SIF ~ Supposedly Irrelevant Factors

~ TMWIWPDFTFCTPEM ~ The Myriad Ways In Which People Depart From The Fictional Creatures That Populate Economic Models

~ TPIWTMBUBE-AMTR-HS-WAFCC-HE-E-CTTFW-HDALOM-A-TMTEMMALOBP-PTCH-SC The Problem Is With The Model Being Used By Economists – A Model That Replaces – Homo Sapiens – With A Fictional Creature Called – Homo Economicus – Econ – Compared To This Fictional World – Humans Do A Lot Of Misbehaving – And – That Means That Economic Models Make A Lot Of Bad Predictions – Predictions That Can Have – Serious Consequences

~ TPOWETRAF ~ The Premises On Which Economic Theory Rests Are Flawed

~ TBUWPMTCANU-TA-C-B ~ The Beliefs Upon Which People Make Their Choices Are Not Unbiased – There Are – Countless – Biases

~ O-MNBIT-ED-BIIAW-EFOHN ~ Overconfidence – May Not Be In The – Economists’ Dictionary – But – It Is A Well-Established Feature Of Human Nature

~ WNAEATDPER-OTATEAROH ~ We Need An Enriched Approach To Doing – Economic Research – One That Acknowledges The Existence And Relevance Of Humans

~ TBOTATEIAE-SNBD-TRUASPFMRM ~ Theories Based On The Assumption That Everyone Is A Econ – Should Not Be Discarded – They Remain Useful As Starting Points For More Realistic Models

~ IYBT-FBATI-A-YAACB-TYCMSM ~ If You Believe That – Financial Bubbles Are Theoretically Impossible – And – You Are A Central Banker – Then You Can Make Serious Mistakes

~ TPRFAHTETITITAOTPMWTT ~ The Primary Reason For Adding Humans To Economic Theories Is To Improve The Accuracy Of The Predictions Made With Those Theories

~ ‘SL’-‘IL’ ~ “Statistical Life” / “Identified Life”

~ T-OC-OSAIWYGUBDI-OCAVAA-WCT-HOAC ~ The – Opportunity Cost – Of Some Activity Is What You Give Up By Doing It – Opportunity Costs Are Vague And Abstract – When Compared To – Handing Over Actual Cash

~ PTALITO-C-N-L-WF-DS-TB-GAL-A-LSMTE-SGFG ~ People Think About Life In Terms Of – Changes – Not – Levels – We Feel – Diminishing Sensitivity – To Both – Gains And Losses – And – Losses Sting More Than Equivalently-Sized Gains Feel Good

~ TIH ~ The Invisible Handwave

~ TINLWTAAACTMTPIRA-OCATMPWSBR-EIMIADH ~ There Is No Logical Way To Arrive At A Conclusion That Markets Transform People Into Rational Agents – One Can Argue That Market Prices Will Still Be Rational – Even If Many Individuals Are Decidedly Human

~ OYUA-BP-YCSIA-BS-IT ~ Once You Understand A – Behavioral Problem – You Can Sometimes Invent A – Behavioral Solution – To It

~ AAPIT-AICOTS-TIAF-L-‘P’-WHGIACATF-A-A-D-MC-‘D’-WLFTP ~ At Any Point In Time – An Individual Consists Of Two Selves – There Is A Forward-Looking – “Planner” – Who Has Good Intentions And Cares About The Future – And – A – Devil-May-Care – “Doer” – Who Lives For The Present

~ T-R-T-E/T/E-A-L-IATC ~ The – Reluctance – To – Experiment / Test / Evaluate – And – Learn – Is All Too Common

~ OIAPF ~ Overconfidence Is A Powerful Force

~ WSF? ~ What Seems Fair?

~ A-PG-IOTECCWDTCOAE-A-IIITEAFCI ~ A – Public Good – Is One That Everyone Can Consume Without Diminishing The Consumption Of Anyone Else – And – It Is Impossible To Exclude Anyone From Consuming It

~ PAWTSSOTOMTTALTTWBU-A-TWTP-DPF-R-A-K-RCR-S ~ People Are Willing To Spend Some Of Their Own Money To Teach A Lesson To Those Who Behave Unfairly – And – This Willingness To Punish – Disciplines Potential Free Riders – And – Keeps – Robust Cooperation Rates – Stable

~ L-AR-TAP-A-G-A-P ~ Losses – Are Roughly – Twice As Painful – As – Gains – Are – Pleasurable

~ R(MO)-I-NNNS-TD-GET ~ Rationality (Meaning Optimization) – Is – Neither Necessary Nor Sufficient – To Do – Good Economic Theory

~ IPAL-TTTBMF ~ If People Are Laughing – They Tend To Be More Forgiving

~ OC-NFEATT-A-TUDSWAC ~ Of Course – New Fields Emerge All The Time – And – They Usually Do So Without Any Coordination

~ A-M ~ Anomaly-Mining

~ ‘CC’ ~ “Conditional Cooperators”

~ IWAIWHDAUATHALFAWTCTCOTBC ~ It Was As If We Had Discovered A Unicorn And Then Had A Long Fight About What To Call The Color Of The Beast’s Coat

~ TPIOW-A-S-VW ~ The Price Is Often Wrong – And – Sometimes – Very Wrong

~ IP-MSTIAAMOFTPAAR-TWNSANTTPA-B-OWGTBAP-A-TPSATBFTF-ICMSFP-MTLATWISW ~ If Policy-Makers Simply Take It As A Matter Of Faith That Prices Are Always Right – They Will Never See Any Need To Take Preventive Action – But – Once We Grant That Bubbles Are Possible – And – The Private Sector Appears To Be Feeding The Frenzy – It Can Make Sense For Policy-Makers To Lean Against The Wind In Some Way

~ ‘PD’ ~ “Path Dependence”

~ TGATT-IHTASQ ~ To Get At The Truth – It Helps To Ask Specific Questions

~ SMT ~ Save More Tomorrow

~ LP ~ Libertarian Paternalism

~ A-N-ISSFITETAOAAIB-NAEFH-B-NFE-SEAADTRT ~ A – Nudge – Is Some Small Feature In The Environment That Attracts Our Attention And Influences Behavior – Nudges Are Effective For Humans – But – Not For Econs – Since Econs Are Already Doing The Right Thing

~ ‘PC’ ~ “Prompted Choice”

~ WDWH-WM ~ When Dealing With Humans – Words Matter

~ IYWPTCWSNOR-IIAGSTIT(IT)-TMOPC ~ If You Want People To Comply With Some Norm Or Rule – It Is A Good Strategy To Inform Them (If True) – That Most Other People Comply

~ EN-MBB-TAT ~ Ethical Nudges – Must Be Both – Transparent And True

~ IYWTESTDS-MIE ~ If You Want To Encourage Someone To Do Something – Make It Easy

~ WCD-E-BP-WE ~ We Can’t Do – Evidence-Based Policy – Without Evidence

~ ISC-SI-AS-RTPWMOFTDS ~ In Some Cases – Successful Interventions – Are Simply – Reminders To People Who Might Otherwise Forget To Do Something

~ TOPAOITSCD-EDTCPYW ~ The Only Protection Against Overconfidence Is To Systematically Collect Data – Especially Data That Can Prove You Wrong

~ T-IOE-EE-T-O-CD-A-SP ~ The – Ideal Organizational Environment – Encourages Everyone – To – Observe – Collect Data – And – Speak Up

JASON STANLEY ~ HOW PROPAGANDA WORKS ~ 2015

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~ TLOHSTHATPTC-TFOTOI-W-TCG-A-T-SEF-W-OF ~ The Lessons Of History Show That Humans Are Too Prone To Confuse – The Furtherance Of Their Own Interests – With – The Common Good – And – Their – Subjective Explanatory Framework – With Objective Fact

~ S-W-M-P-CB-DBS-I-I-WPP ~ Sincere – Well-Meaning – People – Can Be – Deceived By Self-Interest – Into – Unwittingly Producing Propaganda

~ WSAU-WCETEO-FI-IASIU-DTUDBP-WORUPBOIRAUB-TBATBTRTAE-T-PE ~ When Societies Are Unjust – We Can Expect The Emergence Of – Flawed Ideologies – In A Society That Is Unjust – Due To Unjust Distinctions Between Persons – Ways Of Rationalizing Undeserved Privilege Become Ossified Into Rigid And Unchangeable Belief – Those Beliefs Are The Barriers To Rational Thought And Empathy – That – Propaganda Exploits

~ HPRUTEOFIPIS ~ Harmful Propaganda Relies Upon The Existence Of Flawed Ideologies Present In Society

~ TIAPDOTI:ITTLT-EB-T-TAOK-OT-ID ~ There Is A Powerful Democratic Objection To Inequality: Inequality Tends To Lead To – Epistemic Barriers – To – The Acquisition Of Knowledge – Ones That – Imperil Democracy

~ FI-IAOTROG-OTOH-TBFLMIQTTAFIITFO-FLN-OTOH-TSMFLI-WBLTAA-FIOTOI-TWPTFRTMI ~ Flawed Ideology – Is An Obstacle To Realizing One’s Goals – On The One Hand – Those Benefiting From Large Material Inequalities Will Tend To Adopt Flawed Ideologies In The Form Of – False Legitimation Narratives – On The Other Hand – Those Suffering Materially From Large Inequalities – Will Be Led To Adopt A – Flawed Ideology Of Their Own Inferiority – This Will Prevent Them From Realizing Their Material Interests

~ ASIOA-DS-IIPSCO-L-AIHV-A-AF-PE ~ A System Is Only A – Democratic System – If It Places Some Conception Of – Liberty – As Its Highest Value – And – Allows For – Political Equality

~ IIUSTMTNOAARWTU-O-ROS-V ~ It Is Utterly Standard To Mask The Nature Of An Authoritarian Regime With The Use – Of – Revolutionary Or Socialist – Vocabulary

~ PICPOTMBWPBDAHBTRTG-A-H-DFSWIITOBI-PS-C-‘E’-R ~ Propaganda Is Characteristically Part Of The Mechanism By Which People Become Deceived About How Best To Realize Their Goals – And – Hence – Deceived From Seeing What Is In Their Own Best Interests – Propaganda Short-Circuits – “Economic” – Rationality

~ ‘DD’-GL-I-HOI-DBTRODWPATCG ~ “Democratic Deliberation” – Genuine Liberty – Is – Having One’s Interests – Decided By The Result Of Deliberation With Peers About The Common Good

~ TPUOTLOLD ~ The Propagandistic Use Of The Language Of Liberal Democracy

~ TIOMOPMTVAPWANCOOAT-VB-CWAATRTTSRTR-FCASIAWO-TIOWAP ~ The Influence Of Money On Politics Means That Voters Are Presented With A Narrow Choice Of Options At The – Voter’s Booth – Candidates Who Are Able To Raise The Titanic Sums Required To Run – From Corporate And Special Interests And Wealthy Oligarchs – The Interests Of Wealth And Power

~ IA-MS-TGGI-E ~ In A – Managerial Society – The Greatest Good Is – Efficiency

~ E-MBAV-B-IINA-DV ~ Efficiency – May Be A Value – But – It Is Not A – Democratic Value

~ APTPTBFTDIBBOTB ~ Austerity Policies To Pay The Banks For The Debt Incurred By Bailing Out The Banks

~ IINAT-CSTINA-WFF-AA-A-‘WFF’ ~ It Is Not Atypical To – Call Something That Is Not A – War For Freedom – At All – A – “War For Freedom”

~ VOP:AITRIADBACPI-Y-WPTTUTROTI ~ Vehicle Of Propaganda: An Institution That Represents Itself As Defined By A Certain Political Idea – Yet – Whose Practice Tends To Undermine The Realization Of That Ideal

~ FIB-CRD ~ Flawed Ideological Beliefs – Corrode Rational Debate

~ LAAMOC ~ Language As A Mechanism Of Control

~ G-IOPB-D-EILAPF ~ Genocide – Is Often Preceded By – Dehumanization – Expressed In Linguistic And Pictorial Form

~ TATIWTFAS-IARASFOPD ~ The Attempt To Introduce Words That Function As Slurs – Is A Regular And Systematic Feature Of Political Debate

~ A-CB-IOTWWBRTGU-EA-TABIWMIDT-RR-TMBNITBTII-C-W-B-TBAPBDOTCTC-C-P ~ A – Cherished Belief – Is One That We Will Be Reluctant To Give Up – Emotional Attachment – To A Belief Is What Makes It Difficult To – Rationally Revise – There May Be Nothing In The Beliefs That Is Intrinsically – Cherish-Worthy – But – The Beliefs Are Preserved By Dint Of Their Connection To Certain – Cherished – Practices

~ A-IB-I-CTIA/OS-I-A-TTCTIOM ~ An – Ideological Belief – Is – Connected To Identity And/Or Self-Interest – And – Tends To Contribute To Its Own Maintenance

~ OPF-AIWA-AB-BB-AAR-PI-CBASO-FIB ~ Our Perceptual Faculties – As Is Widely Agreed – Affected By – Background Beliefs – As A Result – Perception Itself – Can Be A Source Of – Flawed Ideological Belief

~ IINCTASOUPATFOEPB ~ It Is Now Clear That All Sorts Of Unconscious Processes Affect The Formation Of Even Perceptual Beliefs

~ DS-R-ACO-PE-I-GRT-FIB ~ Democratic Society – Requires – A Culture Of – Political Equality – Inequalities – Give Rise To – Flawed Ideological Beliefs

~ MTEIA ~ Mechanisms That Enable Illegitimate Authority

~ TBTTTAICOSI-SA-BITIOOG-O-OO-TTU-DI-SA-R ~ The Beliefs That Tend To Arise In Conditions Of Stark Inequality – Such As – Belief In The Inferiority Of Other Groups – Or – One’s Own – Tend To Undermine – Democratic Ideals – Such As – Reasonableness

~ ICBFIACS-TAF-ITRS-WTFAPBTTAOK ~ Ideologies Can Be Flawed In A Certain Sense – They Are Flawed – In The Relevant Sense – When They Function As Persistent Barriers To The Acquisition Of Knowledge

~ TATDKOFI-ATCOPP-TATFIB-TWCORTTD-A-TFIB-TWCORTTD ~ There Are Two Different Kinds Of Flawed Ideologies – At The Center Of Political Philosophy – These Are The Flawed Ideological Beliefs – Those With Control Of Resources Tend To Develop – And – The Flawed Ideological Beliefs – Those Without Control Of Resources Tend To Develop

~ SIADP-WONTIAJBDIM ~ Substantial Inequalities Are Democratically Problematic – Whether Or Not These Inequalities Are Justified By Differences In Merit

~ IINTETTWABIAPGWH-FIB-CTPTH-IP-TWBTDTPTO-AAROAF-SABP ~ It Is Natural To Expect That Those Who Are Born Into A Privileged Group Will Have – Flawed Ideological Beliefs – Concerning The Privileges They Have – In Particular – They Will Believe They Deserve The Privileges They Obtain – As A Result Of Accidental Forces – Such As Birth Position

~ AHPG-TH-SOTIC-TITTHATSTM-MOTHPG-TCOTMATES-WMIPOT-DN-OTS-TTGOSAJD-ATM-RT-AOBP ~ All Highly Privileged Groups – Throughout History – Share One Thing In Common – The Ideology That They Have Achieved Their Success Through Merit – Members Of The Highly Privileged Group – Through Control Of The Media And The Education System – Will Make It Part Of The – Dominant Narrative – Of The Society – That The Goods Of Society Are Justify Distributed – According To Merit – Rather Than – Accident Of Birth Position

~ TRO-‘D’-A-SCBE-FTPO-SE ~ The Redefinition Of – “Democracy” – As – Social Control By Elites – For The Purposes Of – Social Efficiency

~ DIASIWTCVA-AAE-ASIWOGOPMCFTMOTPI-TOOD ~ Democracy Is A System In Which The Chief Values Are – Autonomy And Equality – A System In Which One Group Of People Makes Choices For The Majority Of The Population Is – The Opposite Of Democracy

~ OC-EANIAD-H-WCLEDMOV ~ Of Course – Experts Are Needed In A Democracy – However – We Cannot Let Experts Dictate Matters Of Value

~ TTAJ:HA-CCA-C-ROVSAADL-CAAI-AC-YO-H-L/B/S/D/DCA-AAM-AE ~ Trying To Achieve Justice: Human Agency – Carefully Crafted Appeals – Consciousness-Raising Of Various Sorts And At Differing Levels – Cultural And Artistic Innovations – Aesthetic Challenges – Years Of – Human – Labour / Blood / Death / Suffering / Dreams / Direct Collective Action – All And More – Are Essential

~ RSM-ITTAAVADOTMO-IIO-R-T-SMAVA-STTPIWTMMS ~ Radical Social Movements – In Their Time Are Always Viewed As Disturbances Of The Moral Order – It Is Only – Retrospectively – That – Social Movements Are Viewed As – Speaking Truth To Power In Ways That Make Moral Sense

~ THNOSM-F-T-E-PR-OB-C-OITSOTMT-TPTA-A-NS ~ The Heroic Narrative Of Social Movements – Faces – The Ever-Present Risk – Of Being – Co-Opted In The Service Of The Message That – The Problems They Addressed – Are – Now Solved