MARK BLYTH ~ AUSTERITY ~ 2013

~ A-IAFO-VD-IWTEATT-R-O-W-P-A-PS-TR-C-WI(S)BAB-CTS-B-D-A-D-DS-IAB-WI-‘BC’ ~ Austerity – Is A Form Of – Voluntary Deflation – In Which The Economy Adjusts Through The – Reduction – Of – Wages – Prices – And – Public Spending – To Restore – Competitiveness – Which Is (Supposedly) Best Achieved By – Cutting The State’s – Budget – Debts – And – Deficits – Doing So – Its Advocates Believe – Will Inspire – “Business Confidence”

~ TPOA-IMOTN-ETWTTD-PBIPTVOYATTA ~ The Policy Of Austerity – Is More Often Than Not – Exactly The Wrong Thing To Do – Precisely Because It Produces The Very Outcomes You Are Trying To Avoid

~ IWITTP-WSIPTB? ~ I Wasn’t Invited To The Party – Why Should I Pay The Bill?

~ T-ADW-I-TFRIADI ~ That – Austerity Doesn’t Work – Is – The First Reason It’s A Dangerous Idea

~ TWCIA-‘SDC’-SAVIPO-‘BAS’-AP ~ That We Call It A – “Sovereign Debt Crisis” – Suggests A Very Interesting Politics Of – “Bait And Switch” – At Play

~ TCO-STGBS-HEUO-TBSOG-ATATCO-TB-WIWWMCT-A-SDC-WIFIIQ-TAWC-BC ~ The Cost Of – Saving The Global Banking System – Has Ended Up On – The Balance Sheets Of Governments – As They Absorb The Costs Of – The Bust – Which Is Why We Mistakenly Call This – A – Sovereign Debt Crisis – When In Fact It Is A – Transmuted And Well Camouflaged – Banking Crisis

~ ‘TBTF’-‘TBTB’ ~ “Too Big To Fail” – “Too Big To Bail”

~ ISAA-STB-TWN-OOGS-TGUT ~ It’s Still All About – Saving The Banks – There Was No – Orgy Of Government Spending – To Get Us There

~ AINJ-TPOSTB-T-TPTTBWSETP ~ Austerity Is Not Just – The Price Of Saving The Banks – It’s – The Price That The Banks Want Someone Else To Pay

~ S-A-I-ITT-YCCDWMD-I-TBATPTDECATDSOPTPABUAD-T-APSWNW ~ So – Although – If – Its True That – You Cannot Cure Debt With More Debt – If – Those Being Asked To Pay The Debt Either Cannot Afford To Do So Or Perceive Their Payments As Being Unfair And Disproportionate – Then – Austerity Policies Simply Will Not Work

~ EITWND-DHLIAMEF-‘ZE’~ Economic Ideas That Will Not Die – Despite Huge Logical Inconsistencies And Massive Empirical Failures – “Zombie Economics”

~ FOUWITTP-B-WAABATPTB ~ Few Of Us Were Invited To The Party – But – We Are All Being Asked To Pay The Bill

~ A-IFAFA-PPOD-A-NAEPOA ~ Austerity – Is First And Foremost A – Political Problem Of Distribution – And – Not An Economic Problem Of Accountancy

~ F-ND-AGI ~ Facts – Never Disconfirm – A Good Ideology

~ ACFWTCFHWT-NOCHSIC-SCAN ~ A Common Refrain When The Crisis First Hit Was That – No One Could Have Seen It Coming – Such Claims Are Nonsense

~ BS-ALP(GTSAAD)-A-(V)H-I-E ~ Black Swan – A Low Probability (Given The Sample And Assumed Distribution) – And – (Very) High-Impact – Event

~ TTOAGOETWOESMAGATSAB-TMUW-WTI ~ The Theories Of A Generation Of Economic Thinkers Who Only Ever Saw Markets As Good And The State As Bad – The Models Used Were – Worse Than Inaccurate

~ NOAHNOTHATDW-TSSH-O-IM ~ Note Once Again How None Of This Has Anything To Do With – The State’s Spending Habits – Or – Individual Morality

~ TPPOFI ~ The Political Power Of Financial Ideas

~ TWCWTTSTS? ~ The World Changes While The Theory Stays The Same?

~ DET-E-A-D-D-PAEC ~ Different Economic Theories – Empower – And – Disempower – Different – Political And Economic Constituencies

~ TPWPT-TB-DH-SITG ~ The Problem Was Precisely That – The Banks – Didn’t Have – Skin In The Game

~ Systemic Risk – The Risk – That You Cannot – Diversify Away

~ TS-PAGASAFC-IDN-DAFDTPS ~ The State – Plugged A Gap And Stopped A Financial Collapse – It Did Not – Dig A Fiscal Ditch Through Profligate Spending

~ TBMHMTL-B-TCWPFT ~ The Banks May Have Made The Losses – But – The Citizenry Will Pay For Them

~ R-WSTB-C-B-FDAR-MT-B-I-TTST-AAS-RT-RAC-TRITS ~ Risks – Were Supposed To Be – Controlled – By – Financial Derivatives And Risk-Management Tools – But – Instead – These Technologies Seemed To – Amplify And Spread – Rather Than – Reduce And Control – The Risk In The System

~ TINNAM-TPIWL-STPOOL-E-ICAPIMF-AA-DPP-TI-C-R-E-B-A-ATR ~ There Is Nothing Natural About Markets – Turning People Into Wage Laborers – Securing The Private Ownership Of Land – Even – Inventing Capital And Preserving Its Monetary Form – Are All – Deeply Political Projects – That Involve – Courts – Regulation – Enforcement – Bureaucracy – And – All The Rest

~ TS:CLWI/CLWI/DWTPFI ~ The State: Can’t Live With It / Can’t Live Without It / Don’t Want To Pay For It

~ A-R-AI-IT-FABER ~ Austerity – Remains – An Ideology – Immune To – Facts And Basic Empirical Refutation

~ ADW-P-IATFRCAFCOWLL-‘EFC’-TCAEDBFOTWTAPM-O-TPSGTCW-IHIBU-CP-R-PI-MRTLD-A-A-W-IHNO-‘DWISOTT’ ~ Austerity Doesn’t Work – Period – Insofar As The Fossil Record Contains A Few Cases Of What Look Like – “Expansionary Fiscal Consolidations” – These Cases Are Either Driven By Factors Other Than What The Austerity Proponents Maintain – Or – Those Proponents Simply Get The Cases Wrong – It Has Instead Brought Us – Class Politics – Riots – Political Instability – More Rather Than Less Debt – Assassinations – And – War – It Has Never Once – “Done What It Says On The Tin”

~ A-IGIPB-TIOS-TAO-AEDOTTB ~ Austerity – Is Generated In Part By – The Inability Of Societies – To Agree On – An Equitable Distribution Of The Tax Burden

~ H-PAD-EACOTP-F-MHEIOGM ~ Having – Pumped And Dumped – Every Asset Class On The Planet – Finance – May Have Exhausted Its Own Growth Model

~ TIHWAGTDWOD-T-T-AN-A-NBAIU-WII-NBTAMDTC-WTA-A-NBDHAIB-WID-B-B-ASDW ~ This Is How We Are Going To Deal With Our Debts – Through – Taxes – And Not – Austerity – Not Because Austerity Is Unfair – Which It Is – Not Because There Are More Debtors Than Creditors – Which There Are – And – Not Because Democracy Has An Inflationary Bias – Which It Doesn’t – But – Because – Austerity Simply Doesn’t Work

CARL HONORE ~ IN PRAISE OF SLOW ~ 2004

~ TTITHCO-T-C-TD-WE-TSTE-RTTOWR ~ Then There Is The Human Cost Of – Turbo-Capitalism – These Days – We Exist – To Serve The Economy – Rather Than The Other Way Round

~ FHPAPISOTWDOTME ~ Fatigue Has Played A Part In Some Of The Worst Disasters Of The Modern Era

~ ATTTBUTAMLWL-C-F-F-TOTOTWNHEO:T ~ All The Things That Bind Us Together And Make Life Worth Living – Community – Family – Friendship – Thrive On The One Thing We Never Heave Enough Of: Time

~ TTI-TCOM-T-DTTAOSSC-SE-SM-AY-WIOMIDTTNVW ~ Then There Is – The Curse Of Multi-Tasking – Doing Two Things At Once Seems So Clever – So Efficient – So Modern – And Yet – What It Often Means Is Doing Two Things Not Very Well

~ S-OM-B ~ Slower – Often Means – Better

~ PATIA-SM-OY-FR ~ Performing A Task In A – Slow Manner – Often Yields – Faster Results

~ S-BAWOLDT-IR-ATWLI-O ~ Scheduling – Became A Way Of Life During The – Industrial Revolution – As The World Lurched Into – Overdrive

~ P-TE-IW-T-LBTC-WNE-TRC-SAP-P-A-ACDAAMV-W-D-SAT-A-CS ~ Persuading – The Early – Industrial Workers – To – Live By The Clock – Was Not Easy – The Ruling Classes – Set About Promoting – Punctuality – As – A Civic Duty And A Moral Virtue – While – Denigrating – Slowness And Tardiness – As – Cardinal Sins

~ TAM-R-O-E-F-S ~ There Are Many – Reasons – Or – Excuses – For – Speeding

~ WNT-WTDMS ~ We Need To – Want To Drive More Slowly

~ PTMC-WTAC-TP-LT-TV ~ People Think More Creatively – When They Are Calm – Time Pressure – Leads To – Tunnel Vision

~ M-IOWTTTMTR-MINN-POAFHBUIFTOYITQFIHOSE ~ Meditation – Is One Way To Train The Mind To Relax – Meditation Is Not New – People Of All Faiths Have Been Using It For Thousands Of Years In The Quest For Inner Harmony Or Spiritual Enlightenment

~ TAMGRFW ~ There Are Many Good Reasons For Walking

~ WWW-WAAOTDAU-WMC ~ When We Walk – We Are Aware Of The Details Around Us – We Make Connections

~ SLTW-A-MTII-SS ~ Spend Less Time Working – And – More Time Indulging In – Slow Sex

~ TBOWLH ~ The Benefits Of Working Less Hard

~ TWAT-NSLA-WMLFTAN-AOL-M-PTLEFTDOW ~ There Was A Time – Not So Long Ago – When Mankind Looked Forward To A New – Age Of Leisure – Machines – Promised To Liberate Everyone From The Drudgery Of Work

~ WHTT-AOL? ~ Whatever Happened To The – Age Of Leisure?

~ WFH-CESI-WATT ~ Working From Home – Can Easily Slide Into – Working All The Time

~ MGTWEWTTOITBE ~ Millions Go To Work Even When Too Tired Or Ill To Be Effective

~ WTH-IB-FU-A-FTE ~ Working Too Hard – Is Bad – For Us – And – For The Economy

~ PAWTD-WTWTW ~ People Also Want To Decide – When They Want To Work

~ TNHBTPPFTHTSOTJ-RTFWTP ~ The Norm Has Been To Pay People For The Hours They Spend On The Job – Rather Than For What They Produce

~ PWFICOTT-AM-R-C-A-P ~ People Who Feel In Control Of Their Time – Are More – Relaxed – Creative – And – Productive

~ N-CBEH-N-WSMOUANSEAN ~ Napping – Can Be Especially Helpful – Nowadays – When So Many Of Us Are Not Sleeping Enough At Night

~ R-STAPOW-D-T-COS ~ Reading – Surrendering To A Piece Of Writing – Defies – The – Cult Of Speed

~ UT ~ Unstructured Time

~ TGBO-SD-I-RTTATTMMC-WP-WC-WW-WN-WOOBAM ~ The Great Benefit Of – Slowing Down – Is – Reclaiming The Time And Tranquility To Make Meaningful Connections – With People – With Culture – With Work – With Nature – With Our Own Bodies And Minds

~ TCTOTSPI-TTTTDTP-A-T-ETM ~ The Central Tenet Of The Slow Philosophy Is – Taking The Time To Do Things Properly – And – Thereby – Enjoy Them More

~ WICT-SD-IIBT-SS ~ When It Comes To – Slowing Down – It Is Best To – Start Small

JOSEPH STIGLITZ ~ THE PRICE OF INEQUALITY ~ 2012

~ 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

NAOMI KLEIN ~ THE SHOCK DOCTRINE ~ 2007

~ 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

JAMES KWAK ~ ECONOMISM ~ 2017

~ 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

PHILIP COGGAN ~ PAPER PROMISES ~ 2011

~ CATMBWGBTTPDW ~ Criminals Are The Main Beneficiaries When Governments Ban Things That People Desperately Want

~ WDATMG?-TMHGA;IWNRT ~ Where Did All The Money Go? – The Money Hasn’t Gone Anywhere; It Was Never Really There

~ TKT-AB-IT-TLBHDLAHPIS-R ~ The Key To – Asset Bubbles – Is That – The Link Between Higher Debt Levels And Higher Prices Is Self-Reinforcing

~ HB-AC-A-PHTS-TIBSBHALOSWTAI-B-EA-L ~ Housing Bubbles – Are Common – And – Particularly Hard To Stop – That Is Because Such Bubbles Have A Lot Of Supporters While They Are Inflating – Banks – Estate Agents – Lawyers

~ ALSHTBRITBWTBKG ~ And Lending Standards Had To Be Relaxed If The Boom Was To Be Kept Going

~ W-CE-IIHTGB-TATBM-CTTFITS ~ Without – Credit Expansion – It Is Hard To Generate Bubbles – The Ability To Borrow Money – Creates The Temptation For Investors To Speculate

~ B-DOD-TGS-H-TEO-BW-RTRBOTS-TWNLTTAOMACTCBC ~ Bubbles – Did Occur During – The Gold Standard – However – The End Of – Bretton Woods – Released The Remaining Brake On The System – There Was No Limit To The Amount Of Money And Credit That Could Be Created

~ FER-A-LTD-A-GICM-TA-TFS-TGAA-F-F-SM-A-CAVIFHA(ASO)E-RR ~ Floating Exchange Rates – Allowed – Larger Trade Deficits – And – Greater International Capital Movements – This Allowed – The Financial Sector – To Grow As A – Facilitator – For – Such Movements – And – Created A Vast Industry For Hedging Against (And Speculating On) Exchange-Rate Risk

~ LFM-AA-CGTA-CBDNRIATDTPTRB-I-B-IWMF-B-NWTR-TES ~ Liberalizing Financial Markets – Also Allowed – Credit Growth To Accelerate – Central Banks Did Not Regard It As Their Duty To Pop The Resulting Bubbles – Instead – By – Intervening When Markets Fell – But – Not When They Rose – They Encouraged Speculation

~ TP-BWEHNJPB-IHABAB-TPGOTFS ~ The Post-Bretton Woods Era Has Not Just Produced Bubbles – It Has Also Been Accompanied By – The Phenomenal Growth Of The Financial Sector

~ TBWLCIAC-TTACETMFRTS-ATMFFAF-TTGBAB-SAPWRR-IBN(ODM)TFCUOTP ~ The Bankers Were Like Croupiers In A Casino – They Took A Cut Every Time Money Flowed Round The System – As The Money Flowed Faster And Faster – Their Take Got Bigger And Bigger – Since Asset Prices Were Rising Rapidly – Investors Barely Noticed (Or Didn’t Mind) The Finance Sector’s Cut Of Their Profits

~ TSMCTBDBTFS-THEOALTAGWOTBTTOR-BHLCATA-TUM-L ~ The Stock Market Came To Be Dominated By The Finance Sector – This Huge Expansion Owed A Lot To A Greater Willingness Of The Banks To Take On Risk – Banks Held Less Capital Against Their Assets – They Used More – Leverage

~ ‘MH’-DHNITMTHOTBSGSBTAWGTD ~ “Moral Hazard” – Depositors Have No Incentive To Monitor The Health Of Their Banks Since Governments Stand Behind Them And Will Guarantee Their Deposits

~ BFWTGRTR-MROTBS-A-TRDNSATKUWTB-PCITPS ~ Banks Found Ways To Get Round The Rules – Moving Risk Off Their Balance Sheets – And – The Regulators Did Not Seem Able To Keep Up With Their Better-Paid Counterparts In The Private Sector

~ T-FS-HBWECA-‘R-S’-CEPFIS ~ The – Finance Sector – Has Become What Economists Call A – “Rent-Seeker” – Charging Excessive Prices For Its Services

~ FPAOCWTRTTEPIO;CMBPOTOWRI ~ Financial Products Are Often Complex With The Result That The Effective Price Is Obscure; Clients May Be Paying Over The Odds Without Realizing It

~ TROCBTIIAB-OSTTFOEIBHAP-H-TMMW-I ~ The Reluctance Of Central Banks To Intervene In Asset Bubbles – Owed Something To The Feeling Of Euphoria Induced By Higher Asset Prices – However – The Main Motivation Was – Ideology

~ FA-HD-‘E-MT’-WSTCPWALTBABROTFSOTMTTVOAGOOCB-B-RA-HBCAATE-MHESIWD-ICBSTHANOB ~ Finance Academics – Had Developed – “Efficient-Market Theory” – Which Suggested That Current Prices Were Always Likely To Be A Better Reflection Of The Fundamental State Of The Market Than The View Of A Government Official Or Central Banker – But – Rival Academics – Have Been Chipping Away At The Efficient-Market Hypothesis Ever Since It Was Developed – Investors Can Be Shown To Have A Number Of Biases

~ ATBB-A-S-A-D-C-A-ATCILG-SRI-R-H-CTATTMCHTRI ~ As The Banks Became – All-Singing – All-Dancing – Conglomerates – And – As They Consolidated Into Larger Groups – Systemic Risk Increased – Regulators – However – Continued To Assume That The Market Could Handle The Risks Itself

~ STDFTPTTPS-SLTSWAALODOIB ~ Shifting The Debts From The Private To The Public Sector – Still Leaves The System With An Awful Lot Of Debt On Its Books

~ ‘C’-W-PP-GIO-TNTRTS-W-J-TB-A-S-OATBARA-WADPGO-GAHOTDC ~ “Clientelism” – When – Political Parties – Get Into Office – They Need To Reward Their Supporters – With – Jobs – Tax Breaks – And – Subsidies – Once Added These Boondoggles Are Rarely Abolished – When A Different Party Gains Office – Goodies Are Handed Out To Different Clients

~ J-FODF ~ Jubilee – Festival Of Debt Forgiveness

~ ‘OD’-TPO-DIBTAK ~ “Odious Debt” – The Problem Of – Deficits Incurred By Tyrants And Kleptocrats

~ ESGTOD-YGHHTPTDOTO-B-EGHBBTTL-TAOTDWMTINLTC-TPSIROOS ~ Ever Since Governments Took On Debt – Younger Generations Have Had To Pay The Debts Of The Old – But – Each Generation Has Been Bigger Than The Last – The Aging Of The Developed World Means This Is No Longer The Case – The Ponzi Scheme Is Running Out Of Suckers

~ TWHSCACIWMADHE ~ The World Has Seen Cycle After Cycle In Which Money And Debts Have Expanded

~ E-AHWBJAPTLANTBFAIS ~ Eventually – A House Will Be Just A Place To Live And Not The Basis For An Investment Strategy

~ SMOBAIATOOTO-IAD ~ Stagnation May Only Be An Interim Alternative To Our Other Two Options – Inflation And Default

~ TURIT-OCE-CTTASPOTITF-YIAYO-UTAUO ~ The Underlying Reality Is That – One Cannot Expect – Countries To Transfer A Significant Proportion Of Their Income To Foreigners – Year In And Year Out – Unless They Are Under Occupation

~ WDIOIOEII-TFILOAP ~ Whether Debt Is Owed Internally Or Externally Is Important – The Former Is Less Of A Problem

~ FRHBMMVTTSE ~ Floating Rates Have Been Much More Volatile Than Their Supporters Expected

~ TTISITDO-CC ~ The Tide Is Shifting In The Direction Of – Capital Controls

~ TDWHMIF-WAFBOAP-A-AEROTFS ~ The Developed World Has Mortgaged Its Future – With A Foolish Bet On Asset Prices – And – An Excessive Reliance On The Finance Sector

~ TDMBRIIM-O-DC-;TMBPOTOGWAGCTR;TMRIOD ~ The Debts May Be Repaid In Inflated Money – Or – Devalued Currency; They May Be Passed On To Other Governments With A Greater Capacity To Repay; They May Result In Outright Default

~ TGEIC;FMITW-IWNBFTB ~ The Global Economy Is Changing; For Many In The West – It Will Not Be For The Better

ANDREAS WEIGEND ~ DATA FOR THE PEOPLE ~ 2017

~ TARL-TRTSPI-B-DCBUAU ~ There Are Real Life-Threatening Risks To Sharing Personal Information – Because – Data Can Be Used Against Us

~ TRIA-HTETTDCAATTUAWATT-A-TWHSSIHODAU ~ The Real Issues Are – How To Ensure That The Data Companies Are As Transparent To Us As We Are To Them – And – That We Have Some Say In How Our Data Are Used

~ TSDR ~ The Social Data Revolution

~ HCWETDAFTP? ~ How Can We Ensure That Data Are For The People?

~ SD-I-IAY-SA-Y-M-B-A-I-AWAIA-YRW-OP-P-P-E-I ~ Social Data – Is – Information About You – Such As – Your – Movements – Behavior – And – Interests – As Well As Information About – Your Relationships With – Other People – Places – Products – Even – Ideologies

~ OLSNB-D-B-D-TSB-E-B-D ~ Our Lives Should Not Be – Driven – By – Data – They Should Be – Empowered – By – Data

~ PFTP-PA ~ Principles For The Post-Privacy Age

~ B-T-IE-YAN-A ~ But – Transparency – Isn’t Enough – You Also Need – Agency

~ A-E-TROITAUTD-OAFL-A-I-GPTATCDTAUTT ~ Agency – Encompasses – The Right Of Individuals To Act Upon Their Data – On A Fundamental Level – Agency – Involves – Giving People The Ability To Create Data That Are Useful To Them

~ T-AWDCALADIE-ST-I-YATHSCODPAS-O-HCYPJ-WYGAWYG? ~ Transparency – About What Data Companies Are Learning And Doing Is Essential – So Too – Is – Your Ability To Have Some Control Over Data Products And Services – Otherwise – How Could You Possibly Judge – What You Give Against What You Get?

~ IIATCOP ~ Information Is At The Center Of Power

~ TWHMITOAASTB ~ Those Who Have More Information Than Others Almost Always Stand To Benefit

~ BDL ~ Becoming Data Literate

~ TBFPIT-SDR-WMSTOMO-P-‘C’-WTIWIPBU-A-EA-NM-TO-AC-COSD ~ To Be Full Participants In The – Social Data Revolution – We Must Shed The Old Mindset Of – Passive – “Consumers” – Who Take In Whatever Is Placed Before Us – And – Embrace A – New Mindset – That Of – Active Co-Creators Of Social Data

~ WCT-SDR-A-M-‘BB’-O-WCBDLADMWTITRSTTVWGFTIWWWGTT ~ We Can Treat – Social Data Refineries – As – Mysterious – “Black Boxes” – Or – We Can Become Data Literate And Demand Meaningful Ways To Influence The Refineries So That The Value We Get From Them Is Worth What We Give To Them

~ WYDW? ~ What’s Your Data Worth?

~ ASDACIMAOOL-WWIDODRTHUMSOTBDIL ~ As Social Data Are Created In More Areas Of Our Lives – We Will Increasingly Depend On Data Refineries To Help Us Make Some Of The Biggest Decisions In Life

~ IMC-TTMOTDWCEOWWCODTTDCBO ~ In Many Cases – The True Meaning Of The Data We Create Emerges Only When We’re Comparing Our Data To The Data Created By Others

~ OOTBSOBDLILWDA-P-I-O-I ~ One Of The Basic Skills Of Being Data Literate Is Learning What Data Are – Plausible – Implausible – Or – Impossible

~ ADAPTE ~ All Data Are Prone To Error

~ WAASWHTCWSDEWWTHR-A-WRWCT ~ We As A Society Will Have To Consider Which Social Data Experiments We Want To Have Run – And – Which Results We Can Trust

~ A-IN-TDSOD-TPDTWFTP-WN-TAA ~ Anonymity – Is Not – The Default Setting Of Democracy – To Put Data To Work For The People – We Need – Transparency And Agency

~ TEIAOSDCPUO-IWCDTHTAIOTABTTM?-WNTDMSTFETT-O ~ The Exponentially Increasing Amount Of Social Data Clearly Presents Unprecedented Opportunities – In Which Cases Does The Harm To An Individual Outweigh The Aggregate Benefit To The Masses? – We Need To Develop More Sophisticated Tools For Evaluating These Trade-Offs

~ TNSC ~ The New Social Capital

~ TMOSDE ~ The Ministry Of Social Data Engineering

~ AAFS-DR-OTGUASSTT-P-OAO ~ As A First Step – Data Refineries – Ought To Give Users A Simple Switch To Turn – Personalization – On And Off

~ MSOTSOS-WDIMTLIAWWEIR? ~ Making Sense Of The Sensorization Of Society – What Does It Mean To Live In A World Where Everything Is Recorded?

~ PH-TMF-A-LWUS-F-TIT-FOII-O-BR-IAW-TWATOOTI-S-TIT-FOD-O-OSD-WP-T-TITFOP-O-ORDASTD-AUAHTDMBAOUITF ~ People Have – Three Main Fears – About – Living With Ubiquitous Sensors – First – There Is The – Fear Of Information Imbalance – Of – Being Retrievable – In A Way – That Will Alter The Outcome Of The Interaction – Second – There Is The – Fear Of Dissemination – Of – Others Sharing Data – Without Permission – Third – There Is The Fear Of Permanence – Of – Others Recording Data And Saving The Data – An Uncertainty About How The Data Might Be Analyzed Or Used In The Future

~ CAD-TVOAE-I-WADO-SD-TGUR ~ Companies Are Discovering – The Value Of Analyzing Everything – Increasingly – We’ll All Depend On – Sensor Data – To Give Us Recommendations

~ C-ATO-S-TCPU-TUCOA-P/P/T ~ Cameras – Aren’t The Only – Sensor – That Can Pick Up – The Unique Characteristics Of A – Person / Place / Thing

~ RTASD-WINTBTBTTMOUATPHTPWMNEBATTMABI ~ Refineries That Analyze Sensor Data – Will Increasingly Need To Balance The Benefits To The Majority Of Users Against The Potential Harm To People Who May Not Even Be Aware That Their Movements Are Being Inferred

~ IRS-WIAFSITBB-PAS-AWAB-PAFS ~ Image Recognition Software – Will Involve A Fundamental Shift In The Balance Between – Privacy And Security – As Well As Between – Privacy And Free Speech

~ A-C-GVTTWCSFT ~ Algorithms – Can – Give Voice To Those Who Cannot Speak For Themselves

~ B-WCDA-SOR-WRTO-SD-TETFPO-TAA

~ But – We Can Demand A – Set Of Rights – With Respect To Our – Social Data – That Ensures The Fullest Potential Of – Transparency And Agency

~ STC-TFTP ~ Seeing The Controls – Transparency For The People

~ WHTDOTRTHUIAUTIOOD-TRTAYDSITATSYDIC-TOTMPCA-YP-A-YP ~ We Have To Depend On The Refineries To Help Us Interpret And Understand The Implications Of Our Data – The Right To Access Your Data Should Include The Ability To See Your Data In Context – Two Of The Most Powerful Contexts Are – Your Past – And – Your Peers

~ AT-RD-A-WATF-AC-A-I-I-M ~ Access To – Raw Data – Alone – Without Any Tools For – Analysis Comparison – And – Interpretation – Is – Meaningless

~ TRTIDR ~ The Right To Inspect Data Refineries

~ I-CO-AP-C-W-SRS ~ Increasingly – Cyber Operations – Are Providing – Criminals – With – Significant Revenue Streams

~ HCYDWARI-‘SE’-TSYDW? ~ How Can You Determine Whether A Refinery Is – “Secure Enough” – To Share Your Data With?

~ MSBS-NWA-SW-B-WA-HW-IAC-AE-WI-D-D-IT-O-STBTDATJ ~ Many Security Breaches Start – Not With A – Software Weakness – But – With A – Human Weakness – Inside A Company – An Employee – Who Is – Disgruntled – Disaffected – Inadequately Trained – Or – Simply Too Busy To Do A Thorough Job

~ AW-LAR-WMMAT-GP;TDWEAWLHBTURDAEOTR ~ As With – Laws And Regulations – What Matters Most Are The – Guiding Principles; The Details Will Evolve As We Learn How Best To Use Refined Data And Exercise Our Transparency Rights

~ TTC-AFTP ~ Taking The Control(S) – Agency For The People

~ IRCEWU-WSBATEWT ~ If Refineries Can Experiment With Us – We Should Be Able To Experiment With Them

~ ITM ~ Influencing The Machines

~ IAWAGT-TAR-B-TMITEHNEOODL ~ It’s All Well And Good To – Talk About Rights – But – They’re Meaningless If Their Existence Has No Effect On Our Daily Lives

~ WFBQATPAAUOD ~ We Face Big Questions About The Possible And Acceptable Uses Of Data

~ T-HIP-B-SD-ALOT ~ Transparency – Has Its Price – But – So Does – A Lack Of Transparency

~ SD-CGU-F-MT-W-T-MWWW-MCTP-A-OTW-ALAWCETDR ~ Social Data – Can Give Us – Fairer – More Transparent – Ways – To – Match Work With Workers – Match Compensation To Performance – And – Optimize The Workforce – As Long As Workers Can Exercise Their Data Rights

~ AWGTAT-REUTS-EO-TAAR-AWDS-DOTPABTP-WB-DFTP ~ As We Gain The Ability To – Refine Everything Under The Sun – Exercising Our – Transparency And Agency Rights – As We Do So – Data Of The People And By The People – Will Become – Data For The People

OZZIE ZEHNER ~ GREEN ILLUSIONS ~ 2012

~ ATAI ~ Addiction To An Ideal

~ BDWH ~ Buying… Debting… Working… Hoarding

~ CHCRW ~ Commercially Honed Celebrity Repli-Ware

~ CRC ~ Cosmopolitan Radical Chic

~ DHS ~ Deferred Happiness Syndrome

~ CS ~ Cornucopian Superstars

~ EATK ~ Eliminate Advertising To Kids

~ WWHIAAWTSD? ~ What Would Happen If All Advertising Were To Suddenly Disappear?

~ F-TBC-WR-ABP-A-WHO ~ Filling – The Bottomless Cornucopia – Will Require – A Bottomless Planet – And – We Haven’t One

~ EBE ~ Energy Boomerang Effect

~ FW(TWNKWN) ~ Fantastico-Widgets (That We Never Knew We Needed)

~ V-IA-L-CON-CA-TCR-C-RA-A-IDSPR ~ Volunteering – Is A – Low-Cost Or No-Cost Activity – That Can Replace – Consumption-Related Activities – And – It Delivers Superior Personal Rewards

~ RES ~ Real Energy Security

~ STFITC ~ Shift Taxes From Income To Consumption

~ SP ~ Smart Packaging

~ IEISAVCTOS-WISSFLOODAE? ~ If Energy Is Such A Vital Component To Our Society – Why Is Society So Frequently Left Out Of Debates About Energy?

~ IDTP-HR-C-WC-HMC-L-B-BR-R-FP-WS-A-C-IA-MM ~ It’s Difficult To Price – Human Rights – Cancer – Working Conditions – Heavy Metal Contamination – Leaks – Bribery – Biodiversity Risks – Radiation – Food Patronages – Water Security – And – Conflict – Into A – Market Mechanism

~ WDAG-WWE-B-WWI-TTSASAFR ~ We Don’t Always Get – What We Expect – But – What We Inspect – That’s The Short And Sweet Argument For Regulation

~ NUTVOAS ~ Never Underestimate The Value Of A Sticker

~ CADOE ~ Create A Department Of Efficiency

~ UEU-IASO-SSC-EUWCDWWITC ~ Unsustainable Energy Use – Is A Symptom Of – Suboptimal Social Conditions – Energy Use Will Come Down When We Improve These Conditions

~ U-CE-ILE ~ Ultimately – Clean Energy Is Less Energy

~ STFT ~ Silver-Tongued Fairy Tales

~ TEP ~ The Energy Pornographers

~ AET-D-CTA/W-PW-SHR-IN-SD-RT-LACD-RC-T-PP ~ Alternative-Energy Technologies – Don’t – Clean The Air/Water – Protect Wildlife – Support Human Rights – Improve Neighborhoods – Strengthen Democracy – Regulate Themselves – Lower Atmospheric Carbon Dioxide – Reduce Consumption – They – Produce Power

MARG DE VILLIERS ~ WATER ~ 1999

~ W-ITBOCI-DNJL?-THQINHMCPSWTS-B-WKOEIPFTWDS ~ Where – In The Balance Of Competing Interests – Does Natural Justice Lie? – The Human Question Is Not How Many Can Possibly Survive Within The System – But – What Kind Of Existence Is Possible For Those Who Do Survive

~ THPIB-B-WDIITAF ~ The Human Population Is Burgeoning – But – Water Demand Is Increasing Twice As Fast

~ ‘TWOTT-FCWBFOW’ ~ “The Wars Of The Twenty-First Century Will Be Fought Over Water”

~ EYL-TASTTWSIIP ~ Everywhere You Look – There Are Signs That The Water Supply Is In Peril

~ ANWLT-1000CMPPPY-I-WS ~ Any Nation With Less Than – 1000 Cubic Metres Per Person Per Year – Is – Water Scarce

~ PCAO-G-P-W-IGDIADADC ~ Per Capita Availability Of – Good – Potable – Water – Is Going Down In All Developed And Developing Countries

~ MOT-‘E’-SFWHABE-A-MOTWIIPIIN ~ Most Of The – “Easy” – Sources For Water Have Already Been Exploited – And – Much Of The Water Is In Places It Isn’t Needed

~ TBEATMEG-IT-TAS-1.4BCKOWOEILAFF-IT-O/L/S/G/G-FS-AO-2.5%-OTT ~ The Best Estimate Among The Many Educated Guesses – Is That – There Are Some – 1.4 Billion Cubic Kilometres Of Water On Earth In Liquid And Frozen Form – In The – Oceans / Lakes / Streams / Glaciers / Groundwater – Freshwater Stocks – Are Only – 2.5 Percent – Of The Total

~ WD-WITWTCF? ~ Water Demand – Where Is This Water To Come From?

~ WMMTNI-HB-NLI-S-H-OE-Y ~ We Must Measure Time Now In – Human Beings – No Longer In – Seconds – Hours – Or Even – Years

~ GD-I-OOTGUBLCFOP-WATIF-FFS-HM-F-C-W ~ Groundwater Depletion – Is – One Of The Great Unseen But Looming Crises Facing Our Planet – With All The Implications For – Falling Food Supplies – Human Misery – Famine – Conflict – War

~ TPOTMWOFAATNRTIIC-‘GO’-IIAMP-DO-RPACE ~ The Process Of Taking More Water Out From An Aquifer Than Naturally Returns To It Is Called – “Groundwater Overdrafting” – It Is A Modern Phenomenon – Depending On – Reliable Pumps And Cheap Energy

~ TWOTMWICACSWTI-RTAPFHU ~ The Withdrawal Of Too Much Water In Coastal Aquifers Causes Sea Water To Intrude – Ruining The Aquifer Permanently For Human Use

~ EASUTRACS-A-TIHAMOECWSLOP ~ Europeans Are Still Using Their Rivers As Convenient Sewers – And – There Is Hardly A Metre Of European Coastline Without Some Level Of Pollution

~ DAG ~ Deserts Are Growing

~ HHA-D-D-A-R-H-A-M-W ~ Humans Have Always – Discovered – Diverted – Accumulated – Regulated – Hoarded – And – Misused – Water

~ M-IC-PTTVS-EUTETROWTSWB ~ Many – Irrigating Cultures – Perished Through Their Very Success – Expanding Until They Exhausted The Resources On Which Their Success Was Based

~ ADOTE ~ Anthropogenic Degradation Of The Environment

~ PG-TEOAIRD ~ Population Growth – The Engine Of All Increased Resource Demands

~ DI-ANP-F-IC-I-APC-TOHAACOD ~ Drought Is – A Natural Phenomenon – Famine – In Contrast – Is – A Political Catastrophe – That Occasionally Happens As A Consequence Of Drought

~ WWHWBTIITW ~ Who Was Hiding What By Throwing It Into The Water

~ B-A-A-B-M-MEW-CBMCATPUTFC ~ Bio-Accumulation – And – Bio-Magnification – Make Everything Worse – Chemicals Become More Concentrated As They Pass Up The Food Chain

~ ESHCLBCOBDACG ~ Epidemiological Studies Have Confirmed Links Between Cancer Or Birth Defects And Contaminated Groundwater

~ TP-HBAT-EWW-SN ~ The Public – Having Been Assured That – Everything Was Well – Stopped Noticing

~ OABPHNATCDW-A-MT2.9BHNATSS ~ Over A Billion People Have No Access To Clean Drinking Water – And – More Than 2.9 Billion Have No Access To Sanitation Services

~ PLTD ~ Pollution Leads To Disease

~ WIBASAAS:ICDVLOTEIWIIF-TMGSVTP ~ Water Is Both A Solvent And A Sponge: Its Composition Depends Very Largely On The Environment In Which It Is Found – That Makes Groundwater So Vulnerable To Pollution

~ TCTHHWANT-TCOGIBMOAGS ~ The Changes That Humans Have Wrought Are Not Trivial – The Chemistry Of Groundwater Is Being Modified On A Global Scale

~ TNCOFWIRSBMAMFAUN-BFATAHLOIAUW ~ The Nitrate Content Of Fresh Water Is Rising Steadily Because More And More Farmers Are Using Nitrogen-Based Fertilizers And There Are Higher Levels Of Industrial And Urban Wastes

~ ‘D’-W-ILTWMSPP ~ “Dirty” – Water – Is Likely The World’s Most Serious Pollution Problem

~ DAHBFTPMPHTIA ~ Diversified Agriculture – Has Been Found To Produce More Per Hectare Than – Irrigated Agriculture

~ ATCAF-D-AAS-TBLIR ~ A True Cost Accounting For – Dams – Almost Always Shows – The Bottom Line In Red

~ NOINMLBBUIBAGDOILIBTOOP ~ Not Only Is No More Land Being Brought Under Irrigation But A Good Deal Of Irrigated Land Is Being Taken Out Of Production

~ SOTS-TADTIH-ISATRO-MT1MHAY ~ Salination Of The Soil – To A Degree That Inhibits Farming – Is Spreading At The Rate Of – More Than 1 Million Hectares A Year

~ TPISTS-TDDTF:WGCASM-IAIC-W-L-D-A-POTWS-A-RSITS-LU-TPCEKTSA ~ The Problem Is Simple To State – Though Devastatingly Difficult To Fix: Without Great Care And Skilful Management – Irrigation Almost Inevitably Causes – Water-Logging – Depletion – And – Pollution Of The Water Supply – And – Rising Salinity In The Soil – Left Unchecked – These Problems Can Eventually Kill The Soil Altogether

~ AAWA-A-60%-OTWIFINGTTC ~ As A Working Average – Almost – 60 Percent – Of The Water Intended For Irrigation Never Gets To The Croplands

~ ‘W-S-M’ ~ “Water-Stress-Management”

~ SA ~ Shrinking Aquifers

~ WW-T-D-W-T-W-RO? ~ What Will – They – Do – When – Their – Water – Runs Out?

~ IYTARIAS-YC-TIBIARA ~ If You Turn A River Into A Sewer – You Can – Turn It Back Into A River Again

~ F-TEWS-AOWP ~ Fish – The Early Warning System – A Measure Of Water Purity

~ T-ME-HABTPW-WW-AMP ~ The – Middle East – Has Always Been The Place Where – Water Wars – Are Most Probable

~ WSTIIP-B-AAIIWAC-IIN-S-SWSEHOPOFU ~ We Say That It Is Priceless – But – Act As If It Were Absurdly Cheap – It Is Not – Surely – Something We Should Either Hoard Or Prevent Others From Using

~ T-GR-DNOO-MPSG-B-O-I-AP-BHROTS-MTP-TINMWTBH-IIITAOSS-A-PHPAUAOWLIL-A-TIGOPINNWFGTASTBM ~ The – Green Revolution – Depended Not Only On – More Productive Seed Grains – But – On – Irrigation – And – Pesticides – Both Have Run Out Their String – Maximized Their Potential – There Is No More Water To Be Had – Irrigation Is Increasing The Amount Of Saline Soil – And – Pesticides Have Poisoned An Unsettling Amount Of What Land Is Left – And – The Inexorable Grind Of Population Is Now Negating What Few Gains There Are Still To Be Made

~ BINSYWIYDW ~ Benzene Is Not Something That You Want In Your Drinking Water

~ D-TPE-DW-TMUTEOAD-SR-WCBOD ~ Desalination – To Produce Enough – Desal Water – To Make Up The Equivalent Of A Decent-Sized River – Would Cost Billions Of Dollars

~ IYCGMW-WT-ULOI ~ If You Can’t Get More Water – Well Then – Use Less Of It

~ DC ~ Dew Collectors

~ F-DI ~ Fog-Drip Irrigation

~ W-WRICBIF ~ Waste-Water Reuse Is Coming Back Into Favour

~ LFAATT ~ Learn From And Adapt Traditional Techniques

~ IIITS-WV-A-TPISTWH ~ It Is Important To Signal – Water’s Value – And – To Price It So That Waste Hurts

~ PPAAFSOGP ~ Population Projections Are A Familiar Source Of Gloomy Prognostications

~ WS-MNLTW-B-TMCLT-FS-IP-A-TTSOD-TMPP-TITMOP-FSTMMOTDW-SOLD-SUAVI ~ Water Shortages – May Not Lead To War – But – They Most Certainly Lead To – Food Shortages – Increased Poverty – And – To The Spread Of Disease – They Make People Poorer – They Increase The Migrations Of Peoples – Further Straining The Massive Megaslums Of The Developing World – Standards Of Living Deteriorate – Social Unrest And Violence Increase