ELIZABETH ANDERSON ~ PRIVATE GOVERNMENT ~ 2017

~ WATTOCIB-FM-A-SC-WMALTWLUUATTE:PG ~ We Are Told That Our Choice Is Between – Free Markets – And – State Control – When Most Adults Live Their Working Lives Under A Third Thing Entirely: Private Government

~ MMWAPG ~ Most Modern Workplaces Are Private Governments

~ YAST-PG-W:YASTAWCOYASYFNCOSDOYL-A-TATIANOYB-AAWROC-WOIIOWISY ~ You Are Subject To – Private Government – Wherever: You Are Subordinate To Authorities Who Can Order You Around And Sanction You For Not Complying Over Some Domain Of Your Life – And – The Authorities Treat It As None Of Your Business – Across A Wide Range Of Cases – What Orders It Issues Or Why It Sanctions You

~ WAISWU ~ Workplace Authoritarianism Is Still With Us

~ MWAHWANOCOTEA-A-WAWOOCSALTI ~ Most Workers Are Hired Without Any Negotiation Over The Content Of The Employer’s Authority – And – Without A Written Or Oral Contracts Specifying Any Limits To It

~ AG ~ Arbitrary Government

~ II-TS-TE-TDCOWG-WC-A-TRTTE-ETSRFTBL ~ It Is – The State – That Establishes – The Default Constitution Of Workplace Governance – Workers Cede – All – Their Rights To Their Employers – Except Those Specifically Reserved For Them By Law

~ PGICOWTAUFDSTIOCWANCOITM ~ Private Governments Impose Controls On Workers That Are Unconstitutional For Democratic States To Impose On Citizens Who Are Not Convicts Or In The Military

~ MP-SN-LOI-A-SD-KMEFETFSOTA ~ Market Pressures – Social Norms – Lack Of Interest – And – Simple Decency – Keeps Most Employers From Exercising The Full Scope Of Their Authority

~ TAFGSFAAPTLAIKOTGUATOG:E;TROL;SCR;V ~ There Are Four General Strategies For Advancing And Protecting The Liberties And Interests Of The Governed Under Any Type Of Government: Exit; The Rule Of Law; Substantive Constitutional Rights; Voice

~ TINASF-RW-V-ITG-JBWGRAHOODNMTHOMBUTTG-O-TTGSNPARIMD-M ~ There Is No Adequate Substitute For – Recognizing Worker’s – Voice – In Their Government – Just Because Workplace Governance Requires A Hierarchy Of Offices Does Not Mean That Higher Officeholders Must Be Unaccountable To The Governed – Or – That The Governed Should Not Play Any Role In Managerial Decision-Making

~ WD-ITFO-W-OA-MF-HSAAIFME ~ Workplace Democracy – In The Form Of – Worker-Owned And -managed Firms – Has Long Stood As An Ideal For Many Egalitarians

~ GIE-NJITFO-TS-B-EMPITW-Y-PDAMOPTPTTINS-IPTTCOWGISTOOVNBWAE-TITOFATPOPW ~ Government Is Everywhere – Not Just In The Form Of – The State – But – Even More Pervasively In The Workplace – Yet – Public Discourse And Much Of Political Theory Pretends That This Is Not So – It Pretends That The Constitution Of Workplace Government Is Somehow The Object Of Voluntary Negotiation Between Workers And Employers – This Is True Only For A Tiny Proportion Of Privileged Workers

~ S-TL-ESM-HITIGIN-IMBMA-PT-T-ATG-ATT-RTTI-A-OTTP ~ Since – The Levellers – Egalitarian Social Movements – Have Insisted That If Government Is Necessary – It Must Be Made A – Public Thing – To – All The Governed – Accountable To Them – Responsive To Their Interests – And – Open To Their Participation

~ EA-DOIT-NMHEARTA-INOG-IIABHN ~ Exercising Autonomy – Directing Oneself In Tasks – No Matter How Exacting And Relentless They Are – Is No Ordinary Good – It Is A Basic Human Need

~ TCTTSO-WWFL-HNRWO:WTCQAGE-OAGCAR-TCOOOTWLSTSDADT ~ Those Consigned To The Status Of – Wage Worker For Life – Have No Real Way Out: While They Can Quit Any Given Employer – Often At Great Cost And Risk – They Cannot Opt Out Of The Wage Labor System That Structurally Degrades And Demeans Them

~ A-TPOTROLITCTG-N-TG ~ And – The Point Of The Rule Of Law Is To Constrain The Governors – Not – The Governed

~ WT ~ Wage Theft

~ TSO-WT-STCTPGHAITTOILB ~ The Scale Of – Wage Theft – Supports The Claim That Private Government Has An Inherent Tendency To Overstep Its Legal Bounds

~ ANC-WFWFTTHCWTWTQ ~ Abolish Noncompete Clauses – Which Forbid Workers From Taking Their Human Capital With Them When They Quit

~ NOTSHSBWIP-IASAOP ~ None Of The Sexual Harassment Suffered By Workers Improves Productivity – It’s A Sheer Abuse Of Power

~ LWSFTITCOASOWGIWTHAV-WNSKOIVATTETTIAH-TTAR-A-TTHSSOAIWD ~ Let Workers Speak For Themselves In The Context Of A System Of Workplace Governance In Which They Have A Voice – Workers Need Some Kind Of Institutionalized Voice At Work To Ensure That Their Interest Are Heard – That They Are Respected – And – That They Have Some Share Of Autonomy In Workplace Decisions

NOMI PRINS ~ COLLUSION ~ 2018

~ T-2007-2008-C-WTCO-ALRBS-IWPWCITHOTLACOS-STC-CB-HPMI-PB-TA-UMPPC-QE(QE) ~ The – 2007-2008 – Crisis – Was The Consequence Of – A Loosely Regulated Banking System – In Which Power Was Concentrated In The Hands Of Too Limited A Cast Of Speculators – Since The Crisis – Central Banks – Have Pumped Money Into – Private Banks – Through An– Unconventional Monetary Policy Process Called – Quantitative Easing (QE)

~ QE-IAOCTTEA-CB-MEM-AT-IIBAFM-IRFPBOS(OS)-A’CM’S ~ QE – Is An Overtly Complex Term That Entails A – Central Bank – Manufacturing Electronic Money – And Then Injecting It Into Banks And Financial Markets – In Return For Purchasing Bonds Or Securities (Or Stocks) – A “Conjured-Money” Scheme

~ B-TLOGUTSO-ATW-TS-A-LR-GTTCAITEIRP-U-TBSBACTTC-CTA-A-PFTTCTBT-AAO ~ Banks – The Larger Ones Gobbled Up The Smaller Ones – Along The Way – Their Size – And – Loose Regulations – Gave Them The Confidence And Impetus To Engage In Riskier Practices – Ultimately – They Became So Big And Complex That They Could – Create Toxic Assets – And – Provide Financing To Their Customers To Buy Them – All At Once

~ TGSFTM-T-DQES-CBL-PTNTTW-HTGE-TCHBFFTT-TW-NDC-NL-NR-TD-T-CM-I-HRP-PBWUNOTDAWTCMTDWTD ~ To Garner Support For Their Multi-Trillion-Dollar Qe Strategies – Central Bank Leaders – Peddled The Notion That They Were – Helping The General Economy – That Couldn’t Have Been Further From The Truth – There Was – No Direct Channel – No Law – No Requirement – To Divert – The – Cheap Money – Into – Helping Real People – Private Banks Were Under No Obligation To Do Anything With This Cheap Money They Didn’t Want To Do

~ TDW-HASROSMCC-ITWCBSMI-ICGIS-A-ANCE ~ The Danger With – Having A System Rely On So Much Conjured Capital – Is That When Central Bankers Stop Manifesting It – It Could Go Into Shock – And – A New Crisis Emerge

~ T-GFSE-MUISL-TTEOCATTAMM ~ The – Global Financial System Elites – Meet Up In Swanky Locations – They Take Each Other’s Calls And Tend To Avoid Mere Mortals

~ CBANEBV-YTPAG-TPPUTAO-SP-AFE-A-M(ASALO)I ~ Central Bankers Are Not Elected By Voters – Yet They Play At Government – They Promote PolicIes Under The Auspices Of – Stabilizing Prices – Achieving Full Employment – And – Maintaining (A Somewhat Arbitrary Level Of) Inflation

~ POTU ~ Power Of The Unelected

~ TINEALGOT-QMA ~ There Is Nothing Easy About Letting Go Of The – Quantitative Money Addiction

~ EOADOAMADIABNRAEOFS-EIIBMTHH-ITF-OETP-O-CMWTS-MROIWT ~ Existing On A Diet Of Artificial Money And Demand Is Anything But Normal For An Economic Or Financial System – Even If It Boosts Markets To Historic Highs – If The Flow – Or Even The Possibility – Of – Conjured Money Was To Stop – Markets Relying On It Would Tank

~ ABPOTFCACBCWTRIEATSASTN ~ Another By-Product Of The Financial Crisis And Central Bank Collusion Was The Rise In Economic Anxiety That Spawned A Swing Toward Nationalism

~ BCBOBPSAGO-TAOOCOTETA-TVBTCFWTDAPRITWEARSITWOCFTRFTP ~ Because Central Banks Operate Beyond Public Scrutiny And Government Oversight – They Are Only Occasionally Called On To Explain Their Actions – They Vacillate Between Taking Credit For What They Deem Are Positive Results In The World Economy And Remaining Silent In The Wake Of Catastrophic Failures That Result From Their Policies

~ WNADR-WADOORP-WAHFAECC ~ We Need A Debt Reset – Without A Debt Overhaul Or Relief Program – We Are Headed For Another Epic Credit Crisis

~ IO-FSBATHOTBPB-CB-SFLIARP ~ Instead Of – Financing Speculative Bubbles At The Hands Of The Big Private Banks – Central Banks – Should Finance Large Investment And Recovery Programs

~ WS-BUTB-STTCHPDHDTNC-IOTODTFTWTAO ~ We Should – Break Up The Banks – So That They Can’t Hold People’s Deposits Hostage During The Next Crisis – It Only Takes One Domino To Fall To Wipe Them All Out

~ I-TIFC-TCWNBB ~ In – The Inevitable Financial Crash – These Conjurers Will Not Be Blamed

~ T-WE-R-I-AOGTTCB-AFDFS-AHFP ~ The – World Economy – Remains – Imperilled – An Opportunistic Game To The Central Banks – A Field Day For Speculators – A Hazard For Populations

MATT TAIBBI ~ THE TEN RULES OF HATE ~ HATE INC. ~ 2019

~ TAOTI-TSOIIN ~ There Are Only Two Ideas – The Spectrum Of Ideas Is Narrow

~ TTIAIPC ~ The Two Ideas Are In Permanent Conflict

~ H-P-N-I ~ Hate – People – Not – Institutions

~ EISEF ~ Everything Is Someone Else’s Fault

~ NIEF ~ Nothing Is Everyone’s Fault

~ R-D-T ~ Root – Don’t – Think

~ NST ~ No Switching Teams

~ TOSILH ~ The Other Side Is Literally Hitler

~ IT-FAH-EIP ~ In The – Fight Against Hitler – Everything Is Permitted

~ FS ~ Feel Superior

MATT TAIBBI ~ HATE INC. ~ 2019

~ TW-T-N-N ~ This Was – Theater – Not – News

~ TTUTMNBISAWATAT-SP-F-ICCTRYP-EO-A-AAOYCH-SITY ~ The Technology Underpinning The Modern News Business Is Sophisticated And Works According To A Two-Step Process – First – It Creates Content That Reinforces Your Pre-Existing Opinions – And – After Analysis Of Your Consumer Habits – Sends It To You

~ PNTS-UTN-AS-‘TN’-B-A-AICE-ICMOMCWBTTSIOOD ~ People Need To Start – Understanding The News – Not As – “The News” – But – As – An Individualized Consumer Experience – It Creates Masses Of Media Consumers Who’ve Been Trained To See In Only One Direction

~ AITO-TIAUIKUD-AA–TMSWA-TMPIWB ~ As It Turns Out – There Is A Utility In Keeping Us Divided – As A People – The More Separate We Are – The More Politically Impotent We Become

~ OSC-WTTCTNTWSFD-WRFOT-A-HATR ~ Once Safely Captured – We’re Trained To Consume The News The Way Sports Fans Do – We Root For Our Team – And – Hate All The Rest

~ H-ITPO-I-A-M-HB-EISB ~ Hatred – Is The Partner Of – Ignorance – And – Media – Have Become – Expert In Selling Both

~ IH-TO-L-MDT-FCOIA-DOAOTK-A-FSLP-MFD-TPRD ~ Intramural Hatreds – To Obscure – Larger – More Damning Truths – Fake Controversies Of Increasing Absurdity – Deployed Over And Over To Keep – Audiences – From Seeing Larger Problems – Manufactured Fake Dissent – To Prevent Real Dissent

~ N-TPPTNMS-I-D-B-TEMPTMIC-TBTJHISEF-IHVLM ~ Now – The Primary Product The News Media Sells – Is – Division – But – The Easiest Media Product To Make Is Called – This Bad Thing Just Happened Is Someone Else’s Fault – It Has Virtually Limitless Market

~ TMM-TATCNIACW-A-PP-ATC-TBA-SOA-ET-Y-OAP-O-TOY-P-TV-O-CR-WT-M’-‘N’-WSIAO ~ To Make Money – Train Audiences To Consume News In A Certain Way – Anxious – Pre-Pissed – Addicted To Conflict – To Bring A – Series Of Assumptions – Every Time – You – Open A Paper – Or – Turn On Your – Phone – TV – Or – Car Radio – Without Them – Most – “News” – Will Seem Illogical And Offensive

~ DASBTPPWATDITBBOTV? ~ Does Anyone Seriously Believe That Powerful People Would Allow Truly Dangerous Ideas To Be Broadcast On Tv?

~ TMOOPAS-MOOPDAROP-M-AVUOSIII ~ Though Most Of Our Problems Are Systemic – Most Of Our Public Debates Are Referendums On Personality – Meanwhile – A Vast Universe Of Systemic Issues Is Ignored

~ TNPID-BEA-L-L-C-NOWTS-B-TACTPAAP ~ There’s No Percentage In Doing – Big Exposes Against – Large – Litigious – Companies – Not Only Will They Sue – But – They Are Certain To Pull Ads As Punishment

~ WLES ~ We Like Easy Stories

~ TBNSTIAFAWTMRTHAT-EITTCHTTCTTP-MPA-S-B-A-B-A-MOU-BVONV-PTON-OALBOMD ~ The Best News Stories Take Issues And Find A Way To Make Readers Think Hard About Them – Especially Inviting Them To Consider How They Themselves Contribute To The Problem – Most Problems Are – Systemic – Bipartisan – And – Bureaucratic – And – Most Of Us – By Voting Or Not Voting – Paying Taxes Or Not – Own A Little Bit Of Most Disasters

~ BTE-2000-TV-HTTC-P-EATC-S-APPF-AGOVWHNCOPAAATMOSIC-YTEWOL-A-YFDOVA ~ By The Early – 2000s – TV – Had Learned To Cover – Politics – Exactly As They Covered – Sports – A Proven Profitable Format – A Generation Of Viewers Who Had No Conception Of Politics As An Activity That Might Or Should Involve Compromise – Your Team Either Won Or Lost – And – You Felt Devastated Or Vindicated Accordingly

~ T-EIEOO-EW ~ Today – Everyone Is Effectively An Op-Ed Writer

~ TAP-WNLES-E-DRAHOHO-‘S’-BOOTWWTOSITINNLSAAF-IAR ~ The Average Person – Will No Longer Even See – Ever – Derogatory Reporting About His Or Her Own – “Side” – Being Out Of Touch With What The Other Side Is Thinking Is Now No Longer Seen As A Fault – It’s A Requirement

~ MTCWTCOEUIJO ~ Making The Culture War The Center Of Everyone’s Universe Is Job One

~ TORITJMSU ~ The Other Route Is To Just Make Shit Up

~ RTNILS-TPCHAPNIOYH ~ Reading The News Is Like Smoking – This Product Can Have A Profound Negative Impact On Your Health

~ TN-IA-CP-PTTRT ~ The News – Is A – Consumer Product – Please Try To Remember This

~ TNTYA-RTT-AN-CAP-IT-FDOCM-TISOYPMABPOTCP ~ The Notion That You Are – Reading The Truth – And Not – Consuming A Product – Is The – First Deception Of Commercial Media – The Involuntary Surrender Of Your Personal Data May Also Be Part Of The Consumer Price

~ ATCAMMMTMYROW-TB-T-IGTKYGTTS ~ All The Commercial Actors Make More Money The More You Read Or Watch – The Business – Therefore – Is Geared Toward Keeping You Glued To The Screen

~ YDNTWTMN ~ You Don’t Need To Watch That Much News

~ STCOOP-A-MCGR-W-SAGMAMLFACOT-‘FD’-OTM-APP-TOCWBMAMAS-ITSMA-WCSYANB ~ Scare The Crap Out Of People – And – Media Companies Get Richer – While – State Agencies Get More And More License For Authoritarian Crackdowns On The – “Folk Devil” – Of The Moment – A Perfect Partnership – The Only Constant Will Be More And More Authoritarian Solutions – In The Social Media Age – We Can Scare You As Never Before

~ TP-TCHOC-TESOAPAE-TASASOSM-A-Z-ZBBTS ~ The Phoniness – The Constant Hyping Of Conflict – The Endless Stroking Of Audience Prejudices And Expectations – These All Started As Staples Of Sports Media – A – Zero-Sum Battle Between Two Sides

~ OA-S ~ Overrated Anchor-Schtick

~ C-DNJTB-LAS-B-IDFAPS-YMTSSITFFTUY-TTPONTHIALU-MBIR ~ Content – Designed Not Just To Be – Lurid And Sensational – But – Immediately Disquieting From A Psychological Standpoint – You’re Meant To See Something In The First Flash That Upsets You – To The Point Of Needing To Hang In At Least Until – Mental Balance Is Restored

~ ARBACWIDATTOIP ~ A Religion Becomes A Cult When It Doesn’t Allow The Testing Of Its Premises

~ NIWSP! ~ No Interacting With Suppressive Persons!

~ AATTB-O-L-A-TAASPVOTW ~ Audiences Are Trained To Be – Obedient – Loyal – And – To Accept A Simplified Partisan View Of The World

~ A-NC-CBAVFAPP-A-BABABT ~ A – News Channel – Can’t Be A Vehicle For – A – Political Party – And – Be Anything But – A – Bad Thing

CASS SUNSTEIN ~ INFOTOPIA ~ 2006

~ BTRATPCFTFT-WTI-IIETOTVAETCO-H-T-ACE-M-O-P ~ Both The Risk And The Promise Come From The Fact That – With The Internet – It Is Easy To Obtain The Views And Even The Collaboration Of – Hundreds – Thousands – And Conceivably Even – Millions – Of – People

~ E-L-MPCADSTIECOTOD-LTWE-UC-A-UE-B-ED-TI-AOEVEIIA-APLAGDFTDBOITOPH ~ Everyday – Like-Minded People Can And Do Sort Themselves Into Echo Chambers Of Their Own Design – Leading To Wild Errors – Undue Confidence – And – Unjustified Extremism – But – Every Day – The Internet – Also Offers Exceedingly Valuable Exercises In Information Aggregation – As People Learn A Great Deal From The Dispersed Bits Of Information That Other People Have

~ IC-CUIWWHOWWCAOWCAPU ~ Information Cocoons – Communications Universes In Which We Hear Only What We Choose And Only What Comforts And Pleases Us

~ ICBCFLAOTLI-IC-W-F-P-WESOV-B-MEATPOOC-FPAPI-CCTITN ~ It Can Be Comforting For Leaders And Others To Live In – Information Cocoons – Warm – Friendly – Places – Where Everyone Shares Our Views – But – Major Errors Are The Price Of Our Comfort – For Private And Public Institutions – Cocoons Can Turn Into Terrible Nightmares

~ DDALTBD?-OIDN-GMMIPOOA-LTEOTACOFRTT-‘G’-MWPUUADS-C-TFTCIAETROA ~ Does Deliberation Actually Lead To Better Decisions? – Often It Does Not – Group Members May Impose Pressures On One Another – Leading To Extremism Or To A Consensus On Falsehood Rather Than Truth – “Groupthink” – May Well Promote Unthinking Uniformity And Dangerous Self-Censorships – Thus Failing To Combine Information And Enlarge The Range Of Arguments

~ CGDBNISODBBOI-TPITDGODNOTKTTMAH ~ Countless Groups Do Badly Not In Spite Of Deliberation But Because Of It – The Problem Is That Deliberating Groups Often Do Not Obtain The Knowledge That Their Members Actually Have

~ TGLIT-PL-EATHL-OLIC-A-DPFLHTIS ~ The General Lesson Is That – Political Leaders – Even At The Highest Levels – Often Live In Cocoons – And – Deliberation Provides Far Less Help Than It Should

~ GOFPTASOP-TDNCBIAIE-TEIHBAOMATEOIHBAFOO-TFVTBOCE-I-DOFTAAGM ~ Groups Often Fall Prey To A Series Of Problems – They Do Not Correct But Instead Amplify Individual Errors – They Emphasize Information Held By All Or Most At The Expense Of Information Held By A Few Or One – They Fall Victim To Bandwagon Or Cascade Effects – Indeed – Deliberation Often Fails To Aggregate Among Group Members

~ AIH-TPPB-IPASI-AIAD-TIOMFJAMAP-NMJAF ~ As It Happens – The Problems Posed By – Informational Pressure And Social Influences – Apply In All Domains – They Infect Our Most Fundamental Judgments About Morality And Policy – Not Merely Judgments About Facts

~ TKP-IS-GWDBTI-A-BGBTLO-SLATCAM:MRIU-A-EPIMLTNTBC ~ The Key Point – Is That – Groups Will Do Better Than Individuals – And – Big Groups Better Than Little Ones – So Long As Two Conditions Are Met: Majority Rule Is Used – And – Each Person Is More Likely Than Not To Be Correct

~ FAOCW ~ Falsehoods Are Often Conventional Wisdom

~ ASBIOOADWCSPFTGA ~ A Systematic Bias In One Or Another Direction Will Create Serious Problems For The Group’s Answers

~ GMTTBALMCATJASWOA-AKEOGIIAGST-TPCIC-WONIAI ~ Group Members Tend To Become A Lot More Confident About Their Judgments After Speaking With One Another – A Key Effect Of Group Interaction Is A Greater Sense That – The Postdeliberation Conclusion Is Correct – Whether Or Not It Actually Is

~ MOTT-DGDQPAATITTMH-WMMGT-TOFTLNAMATM-RKIOIOD-AABIKIABAOMGMHAFGRTITIKBOOOAFGM ~ Much Of The Time – Deliberating Groups Do Quite Poorly At Aggregating The Information That Their Members Have – When Many Minds Get Together – They Often Fail To Learn Nearly As Much As They Might – Relevant Knowledge Is Often Ignored Or Downplayed – Above All Because Information Known In Advance By All Or Most Group Members Has A Far Greater Role Than Information That Is Known By Only One Of A Few Group Members

~ WSGDW-IIBPSWTT-B-WDG-TMNH-ETTVOOMLPTST-MPRDLBTSD-TDNWTLSORCT ~ When Statistical Groups Do Well – It Is Because People Say What They Think – But – With Deliberating Groups – This Might Not Happen – Exposure To The Views Of Others Might Lead People To Silence Themselves – Most People Really Don’t Like Being The Sole Dissenter – They Do Not Want To Look Stupid Or To Create Trouble

~ HP-TAUTGCOBDN-ACFOIA-A-TAATC ~ Hidden Profiles – The Accurate Understandings That Groups Could Obtain But Do Not – A Clear Failure Of Information Aggregation – And – They Are All Too Common

~ CKE-IHBAGMHFMIOGJTIHBOAFM ~ Common Knowledge Effect – Information Held By All Group Members Has Far More Influence On Group Judgments Than Information Held By Only A Few Members

~ GMTTBSMCATJAD-AEAF-B-CAEAABC ~ Group Members Tend To Be Significantly More Confident About Their Judgments After Discussion – An Especially Alarming Finding – Because – Confidence And Error Are A Bad Combination

~ TITGWAIOATTBLOTHAPLTETPHIADP-CPMHLIOTG ~ Those In The Group Who Are Inexperienced Or Are Thought To Be Low On The Hierarchy Are Particularly Loath To Emphasize Their Privately Held Information As Discussion Proceeds – Cognitively Peripheral Members Have Little Influence On The Group

~ IMDG-PWEUHITAOSR-ATKI ~ In Many Deliberating Groups – People Who Emphasize Uniquely Held Information Take An Obvious Social Risk – And They Know It

~ TDM-APCU-IWYCOTTAOTYL-PIATMP-IOGIA-BPITO ~ The Daily Me – A Personalized Communications Universe – In Which You Consult Only Those Topics And Opinions That You Like – Polarization Is All The More Probable – Instead Of Good Information Aggregation – Bad Polarization Is The Outcome

~ TFT-DIBCAU-WL-TSBPMI-TDHPSRTN ~ The Fact That – Deliberation Increase Both Confidence And Uniformity – Will Leave – The Strong But Potentially Misleading Impression – That Deliberation Has Produced Sense Rather Than Nonsense

~ MHTOFAF-A-PCBWO-B-AMCSIFROWIPAH-APMRHIADG-B-IAM-TWHI-UH-AIAPTMALOM-A-TALTETO ~ Markets Have Their Own Fads And Fashions – And – Prices Can Be Way Off – But – A Market Creates Strong Incentives For Revelation Of Whatever Information People Actually Hold – A Profile May Remain Hidden In A Deliberating Group – But – In A Market – Those With Hidden Information – Uniquely Held – Are In A Position To Make A Lot Of Money – And – They Are Likely To Exploit The Opportunity

~ TPA-O-TCPOEIORC-IOUPDBEGAF-IMC-TLNBTAE-BB-IPAATC-ABO-TSBOTTABS ~ Traditional Practices Are – Often – The Congealed Product Of Earlier Information Or Reputational Cascades – Inefficient Or Unjust Practices Defended By Entrenched Groups And Factions – In Many Cases – Traditions Last Not Because They Are Excellent – But Because – Influential People Are Averse To Change – And Because Of – The Sheer Burdens Of Transition To A Better State

NASSIM TALEB ~ THE TEN PRINCIPLES FOR A BLACK-SWAN-ROBUST SOCIETY ~ THE BLACK SWAN ~ 2017

~ WIFSBE-WISS-NSEB-TBTF ~ What Is Fragile Should Break Early – While It’s Still Small – Nothing Should Ever Become – Too Big To Fail

~ NSOLAPOG-TWOCAS ~ No Socialization Of Losses And Privatization Of Gains – The Worst Of Capitalism And Socialism

~ DLSMA-‘I’-B-MANP-O-YFR-NIWD-CIARAP-NJR ~ Don’t Let Someone Making An – “Incentive” – Bonus – Manage A Nuclear Plant – Or – Your Financial Risks – No Incentives Without Disincentives – Capitalism Is About Rewards And Punishments – Not Just Rewards

~ CCWS ~ Compensate Complexity With Simplicity

~ DNGCDS-EITCWAWL-CFPNTBBBNUT-A-FARETKI ~ Do Not Give Children Dynamite Sticks – Even If They Come With A Warning Label – Complex Financial Products Need To Be Banned Because Nobody Understands Them – And – Few Are Rational Enough To Know It

~ OPSSDOC-GSNNT-‘RC’ ~ Only Ponzi Schemes Should Depend On Confidence – Governments Should Never Need To – “Restore Confidence”

~ DNGAAMDIH[/S]HWP-TDCINATP-IASO-WNR ~ Do Not Give An Addict More Drugs If He[/She] Has Withdrawal Pains – The Debt Crisis Is Not A Temporary Problem – It’s A Structural One – We Need Rehab

~ CSNDOFAAAROV-A-SNROF-‘E’-AFTR-ELSBD ~ Citizens Should Not Depend On Financial Assets As A Repository Of Value – And – Should Not Rely On Fallible – “Expert” – Advice For Their Retirement – Economic Life Should Be Definancialized

~ MAOWBE-LUMVIAREBHWNTBBBOIO-PBWTB ~ Make An Omelet With Broken Eggs – Let Us Move Voluntarily Into A Robust Economy By Helping What Needs To Be Broken Break On Its Own – Putting Bankers Where They Belong