MICHAEL SANDEL ~ THE TYRANNY OF MERIT ~ 2020

~ WBOTCG? ~ What’s Become Of The Common Good?

~ WNTAWTSTOFP-ITLMFB-TPOM-O-TSACGBTSATS ~ We Need To Ask Whether The Solution To Our Fractious Politics – Is To Live More Faithfully By – The Principle Of Merit – Or – To Seek A Common Good Beyond The Sorting And The Striving

~ B-TRORNRH-ITE-IINETR-MWNERTTMC ~ But – The Rhetoric Of Rising Now Rings Hollow – In Today’s Economy – It Is Not Easy To Rise – Most Will Not Even Rise To The Middle Class

~ T-TCWT-HM-TTBTWT-GE-TATR-IS-DLO-TSOP-TOAT=E=HC-A-OR-TEPTSITWOW ~ Today – The Countries With The – Highest Mobility – Tend To Be Those With The – Greatest Equality – The Ability To Rise – It Seems – Depends Less On – The Spur Of Poverty – Than On Access To – Education – Health Care – And – Other Resources – That Equip People To Succeed In The World Of Work

~ ASRTTGBRAPMRDWIOPAW-RT-RCWTPOHPSUALWRGFAFA ~ Any Serous Response To The Gap Between Rich And Poor Must Reckon Directly With Inequalities Of Power And Wealth – Rather Than – Rest Content With The Project Of Helping People Scramble Up A Ladder Whose Rungs Grow Father And Farther Apart

~ M-IIUWTTDTORTM-DSLOTS-TWCTMI-A-MITCOTPP-OTMQ-TAISMPP:TMAATMEP-ATWAAATL-ATW-IGH-ATL-HAR ~ Morally – It Is Unclear Why The Talented Deserve The Outsize Rewards That Market-Driven Societies Lavish On The Successful – Those Who Celebrate The Meritocratic Ideal – And – Make It The Center Of Their Political Project – Overlook This Moral Question – They Also Ignore Something More Politically Potent: The Morally Attractive Attitudes The Meritocratic Ethic Promotes – Among The Winners And Also Among The Losers – Among The Winners – It Generates Hubris – Among The Losers – Humiliation And Resentment

~ TPCIATTOM-A-TCIJ ~ The Populist Complaint Is About The Tyranny Of Merit – And – The Complaint Is Justified

~ TNT-TSR-TAHW-ETW-TCTSTOD-AMOTV-A-TLDUTLFTT-MH-RTTOWTITDOTS-TFT-CAGF-THTOTW-IIT-SC-OT-WLOT-TTDTF-A-T-TOTB-DTT ~ The Notion That – The System Rewards – Talent And Hard Work – Encourages The Winners – To Consider Their Success Their Own Doing – A Measure Of Their Virtue – And – To Look Down Upon Those Less Fortunate Than Themselves – Meritocratic Hubris – Reflects The Tendency Of Winners To Inhale Too Deeply Of Their Success – To Forget The – Luck And Good Fortune – That Helped Them On Their Way – It Is The – Smug Conviction – Of Those – Who Land On Top – That They Deserve Their Fate – And – That – Those On The Bottom – Deserve Theirs Too

~ T- T-CG-IUMI-ET-IILACSODTBOC-TA-SCP-AMBT-GDP-TMFA-IPD ~ Today – The – Common Good – Is Understood Mainly In – Economic Terms – It Is Less About Cultivating Solidarity Or Deepening The Bonds Of Citizenship – Than About – Satisfying Consumer Preferences – As Measured By The – Gross Domestic Product – This Makes For An – Impoverished Public Discourse

~ WPF-PA-TD-CEO-NMTT-WINO-OE-SM-IWPTPOAWRL-C-ATPS-FT-EPD-FAD-TRSTTAO-RPD-DNMTNPABD-ISMTABDE-OOPV-B-AA(OCBTITR)-B-CBABM-B-CL-W-CC-BIWPO ~ What Passes For – Political Argument – These Days – Consists Either Of – Narrow Managerial Technocratic Talk – Which Inspires No One – Or Else – Shouting Matches – In Which Partisans Talk Past One Another Without Really Listening – Citizens – Across The Political Spectrum – Find This – Empty Public Discourse – Frustrating And Disempowering – They Rightly Sense That The Absence Of – Robust Public Debate – Does Not Mean That No Policies Are Being Decided – It Simply Means They Are Being Decided Elsewhere – Out Of Public View – By – Administrative Agencies (Often Captured By The Industries They Regulate) – By – Central Banks And Bond Markets – By – Corporate Lobbyists – Whose – Campaign Contributions – Buy Influence With Public Officials

~ FD-O-M-DG-H-HOPD-DOC-A-PAPB ~ Four Decades – Of – Market-Driven Globalization – Have – Hollowed Out Public Discourse – Disempowered Ordinary Citizens – And – Prompted A Populist Backlash

~ B-IIOTTHPRFAM;IISETATWA-EOU-WRFOLIL ~ But – It Is One Thing To Hold People Responsible For Acting Morally; It Is Something Else To Assume That We Are – Each Of Us – Wholly Responsible For Our Lot In Life

~ TNTOFROM-RDIT-MI-O-WC-IRTBTTMUIAIAWTAPWMASWW-T-MWOT-GRTHATTWSM-TMATS-TGTSTTVHBIOH[H]~ The Notion That Our Fate Reflects Our Merit – Runs Deep In The – Moral Intuitions – Of – Western Culture – It Reflects The Belief That The Moral Universe Is Arranged In A Way That Aligns Prosperity With Merit And Suffering With Wrongdoing – This – Meritocratic Way Of Thinking – Gives Rise To Harsh Attitudes Toward Those Who Suffer Misfortune – The More Acute The Suffering – The Greater The Suspicion That The Victim Has Brought It On Himself[/Herself]

~ MOTF-TS-WFL-AAFAMPOV ~ Many Of The Factors – That Separate – Winners From Losers – Are Arbitrary From A Moral Point Of View

~ TMWVOAS-MAS-S-TLLWATCFTFOTLFTO-IMSIMOD-TFMBTF-TLMMCOC-TSANOPRFOFMIHTIOIOPS ~ The More We View Ourselves As Self-Made And Self-Sufficient – The Less Likely We Are To Care For The Fate Of Those Less Fortunate Than Ourselves – If My Success Is My Own Doing – Their Failure Must Be Their Fault – This Logic Makes Meritocracy Corrosive Of Commonality – Too Strenuous A Notion Of Personal Responsibility For Our Fate Makes It Hard To Imagine Ourselves In Other People’s Shoes

~ TROR ~ The Rhetoric Of Responsibility

~ FD-ME-ITMT-TW-WHAPBTR-CRAFATTWTT-TDNNTFT-SATBOSTSA-T-ROR-WLAPTAT ~ For Decades – Meritocratic Elites – Intoned The Mantra That – Those Who – Work Hard And Play By The Rules – Can Rise As Far As Their Talents Will Take Them – They Did Not Notice That For Those – Stuck At The Bottom Or Struggling To Stay Afloat – The – Rhetoric Of Rising – Was Less A Promise Than A Taunt

~ C:TLAP ~ Credentialism: The Last Acceptable Prejudice

~ ‘SVD’- BTD-EOI-C-L-‘JVU’-O-‘RVW’ ~ “Smart Versus Dumb” – Began To Displace – Ethical Or Ideological – Contrasts – Like – “Just Versus Unjust” – Or – “Right Versus Wrong”

~ T-‘STTD’-A-PTA-POS-IR-TDNDO-MC ~ The – “Smart Thing To Do” – Always – Pointed To A – Prudential Or Self-Interested Reason – That Did Not Depend On – Moral Considerations

~ TNT-‘TBATB’-ABAG-TT-L-C-FC-I-AMBOMH ~ The Notion That – “The Best And The Brightest” – Are – Better At Governing – Than Their – Less-Credentialed – Fellow Citizens – Is – A Myth Born Of Meritocratic Hubris

~ P-TO-RW-I-RME ~ Parties – That Once – Represented Workers – Increasingly – Represented Meritocratic Elites

~ WMFAMITEHAECTCTLOS;IHNTSAHFATROTLSB-T-MI-INA-ROI-IIA-JOI ~ What Matters For A Meritocracy Is That Everyone Has An Equal Chance To Climb The Ladder Of Success; It Has Nothing To Say About How Far Apart The Rungs On The Ladder Should Be – The – Meritocratic Ideal – Is Not A – Remedy Of Inequality – It Is A – Justification Of Inequality

~ AT-AOG-BRWTT-W-C-IDNFMOW-PI-B-WRASASSOWTP-W-EASCALS ~ Although The – Age Of Globalization – Brought Rich Rewards To – The Well-Credentialed – It Did Not Nothing For Most Ordinary Workers – Productivity Increased – But – Workers Reaped A Smaller And Smaller Share Of What They Produced – While – Executives And Shareholders Captured A Larger Share

~ OTLSD-TIT-TMWMRTVOOSC-HBDE ~ Over The Last Several Decades – The Idea That – The Money We Make Reflects The Value Of Our Social Contribution – Has Become Deeply Embedded

~ M-FA-HRTP-EG-TDPATEI-SP-MTDOTWEAL-P-U-GAS-IT-RE ~Much – Financial Activity – Hinders Rather Than Promotes – Economic Growth – The Disproportionate Prestige Accorded Those Engaged In – Speculative Pursuits – Mocks The Dignity Of Those Who Earn A Living – Producing – Useful – Goods And Services – In The – Real Economy

~ A-PA-TRT-DOW-WUT-TS-TRTEOEB-DS-A-HPL ~ A – Political Agenda – That Recognizes The – Dignity Of Work – Would Use The – Tax System – To Reconfigure The Economy Of Esteem By – Discouraging Speculation – And – Honoring Productive Labor

MARCEL DANESI ~ THE ART OF THE LIE ~ 2020

~ SLAD-THTATTWIWTCDPAEO ~ Skilful Liars Are Dangerous – They Have The Ability To Twist Words Into Weapons That Can Divide People Against Each Other

~ DPEAIAOTAOAAC? ~ Do Political Expediency And Ideological Agendas Override Truth And Objectivity At Any Cost?

~ TSOLLFUTTD-LIATFITFOAP ~ The Stories Of Legendary Liars Fascinate Us To This Day – Lying Is A Theme Found In The Folklore Of All Peoples

~ TH-DBTALHBACOOPAT ~ Throughout History – Distinguishing Between Truth And Lies Has Been A Central Objective Of Philosophy And Theology

~ P-ANOTIHH-H-M-FSAFG-F-SPAH-AITCWO-SM ~ Perhaps – At Not Other Time In Human History – Has – Mendacity – Found Such A Fertile Ground – For – Stoking Prejudice And Hatred – As In The Contemporary World Of – Social Media

~ TINRWANFI ~ There Is No Reality Without A Name For It

~ TD-ATUO-L-TAMOI-TASTBRTNTT-IT-L ~ Truthful Discourse – And The Use Of – Logic – To Argue Matters Of Importance – These Are Still The Best Remedies To Neutralize The Tactics – In The – Lie

~ SA-UAV-DWFTNM-TSTFL ~ Semantic Ambiguity – Uncertainty And Vagueness – Disconnecting Words From Their Normal Meanings – To Snatch Truth From Language

~ FE ~ False Equivalency

~ WAH-DIB-TCAF-TIWG-F-SI ~ We All Harbor – Deeply Ingrained Beliefs – That Color And Filter – The Information We Glean – From – Social Interactions

~ CN-APTO-MC-STADTS-DEB ~ Conspiracy Narratives – Are Powerful Tools Of – Mind Control – Since They Are Designed To Stoke – Deeply Engrained Beliefs

~ CN-ROTBPO-M-NHBA-NIAIS-EIC ~ Conspiracy Narratives – Rely On Three Basic Principles Of – Mythos – Nothing Happens By Accident – Nothing Is As It Seems – Everything Is Connected

~ CN-WP-BTABO-ASUOM ~ Conspiracy Narratives – Work Psychologically – Because They Are Based On – A Strategic Use Of Metaphor

~ LC-A-I-TAPATWOT-‘E’-ATED ~ Logical Counterarguments – Are – Ineffectual – Because They Are Perceived As The Words Of The – “Enemy” – And Thus Easily Dismissed

~ TIN-MC-W-VC ~ There Is No – Mind Control – Without – Vocabulary Control

~ CS ~ Confabulated Stories

~ OOT-PT-O-PR:TAO-‘O’ ~ One Of The – Primary Tactics – Of – Political Repression: The Attack On – “Otherness”

~ “Enemies From Within”

WAL-STBD-I-TSII-TLIPAI-A-ITUSWSMBHFU ~ We Are All – Susceptible To Being Deceived – If – The Story Is Interesting – The Language Is Persuasive And Immediate – And – It Tells Us Something We Suspect May Be Hidden From Us

~ IAIR ~ Innuendo And Indirect Reference

~ PAMT-ED-B-WAG ~ People Are Much Too – Easily Deceived – By – Words And Gifts

~ S-B-TM-A-ATH-DAKO-A-RM ~ Saying – B – To Mean – A – And Then – Denying Any Knowledge Of – A’s – Real Meaning

~ TGP ~ The Great Pretender

~ B-TDIT-WLTA ~ But – The Danger Is That – Words Lead To Actions

~ CW-CHWP-T ~ Changing Words – Changes How We Perceive – Things

~ AN ~ AttackoNyms

~ HCALCSEAL-P-A/D-DA-TM-ML-IA-MP ~ How Can A Liar Call Someone Else A Liar – Projection – Attack / Defensive – Deflect Attention – The Master – Machiavellian Liar – Is A – Master Projector

~ D/D/D ~ Denial / Deflection / Distraction

~ ‘W’-AODC-B-CT-OO-OTSTOWTAAY-WRTIAODIIAW ~ “Whataboutism” – Attack Or Discredit Critics – By – Charging Them – Or Others – Of The Same Thing Of Which They Are Accusing You – Without Refuting The Initial Attack Or Disproving It In Any Way

~ LCTWWSTIOM ~ Language Conditions The Way We See Things In Our Mind

~ TFO-BD-IS-DE-TIIET-DTF-OE-ETA-IS-S-I-W-TTAT ~ The Feeling Of – Being Duped – Is So – Destructive Emotionally – That It Is Easier To – Deny The Facts – Or Else – Explain Them Away – In Some – Self-Illusory – Way – Than To Accept Them

RACHEL CARSON ~ SILENT SPRING ~ 1962

~ IWASWV-N-W-N-EA-HSTRONLITSW-TPHDIT ~ It Was A Spring Without Voices – No – Witchcraft – No – Enemy Action – Had Silenced The Rebirth Of New Life In This Stricken World – The People Had Done It Themselves

~ CO-A/E/R/S-W-DAELM-IFTMP-I-T-COE-II-NOITWTMSL-B-ILT-I-FTMP-I ~ Contamination Of – Air / Earth / Rivers / Sea – With – Dangerous And Even Lethal Materials – Is For The Most Part – Irrecoverable – The – Chain Of Evil – It Initiates – Not Only In The World That Must Support Life – But – In Living Tissue – Is – For The Most Part – Irreversible

~ NC-CFOLIA-ES-NCTW-B-AR-S-TA-CTOTLOBE ~ New Chemicals – Come From Our Laboratories In An – Endless Stream – New Chemicals To Which – Bodies – Are Required – Somehow – To Adapt – Chemicals Totally Outside The Limits Of Biologic Experience

~ NC-THTPTK-EI-‘G’-A-‘B’-TTITMBO-AFWOI ~ Nonselective Chemicals – That Have The Power To Kill – Every Insect – “Good” – And – “Bad” – Though The Intended Target May Be Only – A Few Weeds Or Insects

~ TSNBC-‘I’-B-‘B’-STAITTOPAA-AE-PTGCTSOATVMOHUWTSOTFD ~ They Should Not Be Called – “Insecticides” – But – “Biocides” – Substances That Accumulate In The Tissue Of Plants And Animals – And Even – Penetrate The Germ Cells To Shatter Or Alter The Very Material Of Heredity Upon Which The Shape Of The Future Depends

~ HCIBSTCAFUSBAMTCTEEABTTODADETTOK? ~ How Could Intelligent Beings Seek To Control A Few Unwanted Species By A Method That Contaminated The Entire Environment And Brought The Threat Of Disease And Death Even To Their Own Kind?

~ C-MBGT-R-NT-MS-A-TMEMBSTTDNDUAWTI ~ Control – Must Be Geared To – Realities – Not To – Mythical Situations – And – The Methods Employed Must Be Such That They Do Not Destroy Us Along With The Insects

~ S-GF-DNTAOTPBWNW;IIAAAEMCITB ~ Single-Crop Farming – Does Not Take Advantage Of The Principles By Which Nature Works; It Is Agriculture As An Engineer Might Conceive It To Be

~ TSOTODKOOFTNHTINT ~ The Spreading Of Thousands Of Different Kinds Of Organisms From Their Native Homes To Invade New Territories

~ MOTNKINA-B-WDNUI-WTEIOUAEETIOGA-B-WSTTA ~ Much Of The Necessary Knowledge Is Now Available – But – We Do Not Use It – We Train Ecologists In Our Universities And Even Employ Them In Our Governmental Agencies – But – We Seldom Take Their Advice

~ WAT-CDR-TF-ATTWNA-WIF-TAM-A-OICSDMMIGO-HWFIAMSTMUAAITWIIOD-ATHLTWOTVTDTWIG? ~ We Allow The – Chemical Death Rain – To Fall – As Though There Were No Alternative – Whereas In Fact – There Are Many – And – Our Ingenuity Could Soon Discover Many More If Given Opportunity – Have We Fallen Into A Mesmerized State That Makes Us Accept As Inevitable That Which Is Inferior Or Detrimental – As Though Having Lost The Will Or The Vision To Demand That Which Is Good?

~ WHP-PABPC-IITHOPLOWIOTPFH-WHSENOPTCWTPWTCAOWTK-WHATCTBUWLONAIOTEO-S/W/[H]M ~ We Have Put – Poisonous And Biologically Potent Chemicals – Indiscriminately Into The Hands Of Persons Largely Or Wholly Ignorant Of Their Potentials For Harm – We Have Subjected Enormous Numbers Of People To Contact With These Poisons Without Their Consent And Often Without Their Knowledge – We Have Allowed These Chemicals To Be Used With Little Or No Advance Investigation Of Their Effect On – Soil / Water / [Hu]Man

~ FG-AUTCOLOPCF-TIOTNWTSAL ~ Future Generations – Are Unlikely To Condone Our Lack Of Prudent Concern For – The Integrity Of The Natural World That Supports All Life

~ TRTMADAWCISC ~ The Right To Make A Dollar At Whatever Cost Is Seldom Challenged

~ IITPTIBATATR-TPMDWIWTCOTPR-A-ICDSOWIFPOTF ~ It Is The Public That Is Being Asked To Assume The Risks – The Public Must Decide Whether It Wishes To Continue On The Present Road – And – It Can Do So Only When In Full Possession Of The Facts

~ EOD ~ Elixirs Of Death

~ ACOT-SWW-ITCODAOCW-SOTCCITLWFTBLTI ~ A Child Of The – Second World War – In The Course Of Developing Agents Of Chemical Warfare – Some Of The Chemicals Created In The Laboratory Were Found To Be Lethal To Insects

~ NAMDCAATTLEY-IWAGTLSIWTC-EADT-TTITVMOOB-WHBKSATNATP ~ New And More Deadly Chemicals Are Added To The List Each Year – If We Are Going To Live So Intimately With These Chemicals – Eating And Drinking Them – Taking Them Into The Very Marrow Of Our Bones – We Had Better Know Something About Their Nature And Their Power

~ FOOTA-TATLOTFC-A-VSA-MEAA-HC ~ From One Organism To Another – Through All The Links Of The Food Chains – A – Very Small Amount – May End As A Heavy Concentration

~ CAMSTPTA ~ Children Are More Susceptible To Poisoning Than Adults

~ P-TFSOT-DIOC-IAYLK ~ Potentiation – The Full Scope Of The – Dangerous Interaction Of Chemicals – Is As Yet Little Known

~ H-L-I-ISVDC-A-T-CU-ITBTTA-‘S’-CHDR ~ Herbicides – Like – Insecticides – Include Some Very Dangerous Chemicals – And – Their – Careless Use – In The Belief That They Are – “Safe” – Can Have Disastrous Results

~ ‘M’:ACOMTG ~ “Mutagens”: Agents Capable Of Modifying The Genes

~ TPEOWCFMS-TA-LU-I/T/SOE ~ The Pollution Entering Our Waterways Comes From Many Sources – There Are – Little-Understood – Interactions / Transformations / Summations Of Effect

~ PO-GW-I-POWE ~ Pollution Of – GroundWater – Is – Pollution Of Water Everywhere

~ CWST-PWIIW-WNAEI-CON? ~ Can We Suppose That – Poisons We Introduce Into Water – Will Not Also Enter Into – Cycles Of Nature?

~ CWUA-NF-WAK-TF-TITRO-T-IABA-TATTIENFTS? ~ Can We Use A – Nonspecific Fungicide – Without Also Killing – The Fungi – That Inhabit The Roots Of – Trees – In A Beneficial Association – That Aids The Tree In Extracting Nutrients From The Soil?

~ CC-STHPOTATTSCAWSAAOI-TVNOTWOTSHBLI ~ Chemical Control – Seems To Have Proceeded On The Assumption That The Soil Could And Would Sustain Any Amount Of Insult – The Very Nature Of The World Of The Soil Has Been Largely Ignored

~ SMA-OAPOY-MBUFQIS ~ Seemingly Moderate Applications – Over A Period Of Years – May Build Up Fantastic Quantities In Soil

~ NO-IP-B-SWA ~ Not Only – Improperly Planned – But – Studded With Abuses

~ IT-EON-NV-HIEP ~ In The – Economy Of Nature – Natural Vegetation – Has Its Essential Place

~ B-DH-O-‘W’ ~ Bees – Depend Heavily – On – “Weeds”

~ TDTHATFOW-IPWITLRT-DK ~ To Destroy The Homes And The Food Of Wildlife – Is Perhaps Worse In The Long Run Than – Direct Killing

~ SS-MTAOCA-PH-KTAM ~ Selective Spraying – Minimizes The Amount Of Chemical Applied – Potential Harm – Kept To A Minimum

~ TQI-WAC-CWRWOL-WDI-A-WLTRTBCC ~ The Question Is – Whether Any Civilization – Can Wage Relentless War On Life – Without Destroying Itself – And – Without Losing The Right To Be Called Civilized

~ TATEWP ~ The Authoritarians Temporarily Entrusted With Power

~ ROD ~ Rivers Of Death

~ WMMWUO-AM-TANK-A-WMDOIARTDO ~ We Must Make Wider Use Of – Alternative Methods – That Are Now Known – And – We Must Devote Our Ingenuity And Resources To Developing Others

~ IFTS ~ Indiscriminately From The Skies

~ TF-H-CTA ~ The Facts – However – Continue To Accumulate

~ UO-PITK-IMB-AAE ~ Use Of Poisons – In The Kitchen – Is Made Both – Attractive And Easy

~ WOL-IIST ~ Warnings On Labels – Inconspicuously In Small Type

~ THP ~ The Human Price

~ I/I ~ Interrelationship / Interdependence

~ A-HB-U-A-LA-URCC-INETOCA ~ A – Human Being – Unlike – A – Laboratory Animal – Under Rigidly Controlled Conditions – Is Never Exposed To One Chemical Alone

~ TEO-ACOSIN-CBDC-B-TAOA ~ The Effect Of – A Chemical Of Supposedly Innocuous Nature – Can Be Drastically Changed – By – The Action Of Another

~ TT-GROOI-BO-ASOAMMDO ~ Trying To – Get Rid Of One Insect – Brought On – A Scourge Of A Much More Destructive One

~ ATEVO-A-IA ~ A Truly Extraordinary Variety Of – Alternatives – Is Available

ROBERT SHILLER ~ THE ROLE OF THE MEDIA IN SETTING THE STAGE FOR MARKET MOVES ~ IRRATIONAL EXUBERANCE ~ 2000

~ THOSBBRWTAON ~ The History Of Speculate Bubbles Begins Roughly With The Advent Of Newspapers

~ ATNM-N/M/BM/TI-PTADOOME-TATAIPOTE-SME-GOOITISTALGOP-A-TNMAEVFTSOI ~ Although The News Media – Newspapers / Magazines / Broadcast Media / The Internet – Present Themselves As Detached Observers Of Market Events – They Are Themselves An Integral Part Of These Events – Significant Market Events – Generally Occur Only If There Is Similar Thinking Among Large Groups Of People – And – The News Media Are Essential Vehicles For The Spread Of Ideas

~ NS-RHA-S/P-EOTM ~ News Stories – Rarely Have A – Simple / Predictable – Effect On The Market

~ TNMAICCTCTPATNTS-SFTR-FADIN-FAONTH-W-O-M-P-TBTA-A-WP-DAOSTETATRSC ~ The News Media Are In Constant Competition To Capture The Public Attention They Need To Survive – Survival For Them Requires – Finding And Defining Interesting News – Focusing Attention On News That Has – Word-Of-Mouth – Potential – To Broaden Their Audience – And – Whenever Possible – Defining An Ongoing Story That Encourages Their Audience To Remain Steady Customers

~ TNMANATFM-B-ATVLTMP-CN-ITFO-DPC-NBTSMFSFOPINI ~ The News Media Are Naturally Attracted To Financial Markets – Because – At The Very Least The Markets Provide – Constant News – In The Form Of – Daily Price Changes – Nothing Beats The Stock Market For Sheer Frequency Of Potentially Interesting News Items

~ TSMAHSQ-TBCIT-BC-TMFMP-A-BTOAGDISAABOTSOTN-AITTMCFABF ~ The Stock Market Also Has Star Quality – The Pubic Considers It The – Big Casino – The Market For Major Players – And – Believes That On Any Given Day It Serves As A Barometer Of The Status Of The Nation – All Impressions That The Media Can Foster And Benefit From

~ FN-MHGHIPTTETIDWTMOBOF-TOORGONOACSI-SE-FNASN-TAFRHOTECOMNT ~ Financial News – May Have Great Human Interest Potential To The Extent That It Deals With The Making Or Breaking Of Fortunes – The Only Other Regular Generator Of News On A Comparable Scale Is – Sporting Events – Financial News And Sports News – Together Account For Roughly Half Of The Editorial Content Of Many Newspapers Today

~ TMOSTTOS-IRLATDIEDW-TWOFSTISTSAROAGD-TITNASRACBS-OATTCPHATE-IA-WIDO-DI-EAAOIAOQD-APFSTDIFUBCS ~ The Media Often Seem To Thrive On Superlatives – If Reporters Look At The Data In Enough Different Ways – They Will Often Find Something That Is Close To Setting A Record On Any Given Day – The Impression That New And Significant Records Are Constantly Being Set – Only Adds To The Confusion People Have About The Economy – It Also – With Its Deluge Of – Different Indicators – Encourages An Avoidance Of Individual Assessment Of Quantitative Data – A Preference For Seeing The Data Interpreted For Us By Celebrity Sources

HA-JOON CHANG ~ SCHOOLS OF ECONOMICS ~ ECONOMICS — THE USER’S GUIDE ~ 2014

~ C:TMKAPATC-SLIA ~ Classical: The Market Keeps All Producers Alert Through Competition – So Leave It Alone

~ N-C:IKWTAD~ Neo-Classical: Individuals Know What They Are Doing – So Leave Them Alone – Except When Markets Malfunction

~ M: CIAPVFEP-B-IWC-APPOBAOTFP ~ Marxist: Capitalism Is A Powerful Vehicle For Economic Progress – But – It Will Collapse – As Private Property Ownership Becomes An Obstacle To Further Progress

~ DT:BECDITLTETTM ~ Developmentalist Tradition: Backward Economies Can’t Develop If They Leave Things Entirely To The Market

~ A:NOKE-SLEA ~ Austrian: No One Knows Enough – So Leave Everyone Alone

~ (N)-S:CIAPVOEP-B-IWA-AFBLAMB ~ (Neo)-Schumpeterian: Capitalism Is A Powerful Vehicle Of Economic Progress – But – It Will Atrophy – As Firms Become Larger And More Bureaucratic

~ K:WIGFIMNBGFTWE ~ Keynesian: What Is Good For Individuals May Not Be Good For The Whole Economy

~ I:OAN?:IAPOTS-ETTMCIR ~ Institutionalist – Old And New?: Individuals Are Products Of Their Society – Even Though They May Change Its Rules

~ B:WANSE-SWNTDCOOFOCT-R ~ Behaviouralist: We Are Not Smart Enough – So We Need To Deliberately Constrain Our Own Freedom Of Choice Through – Rules

TONY JUDT ~ ILL FARES THE LAND ~ 2010

~ SIPWWTWWLT-WKWTCBHNIWTAW-WNLAOAJROALA:IIG?-IIF?-IIR?-WIHBAABSOABW?-TYTB-T-PQ-EITINEA-WMLOATPT-WCGOLLT-AYWSUTCOA-TTISN ~ Something Is Profoundly Wrong With The Way We Live Today – We Know What Things Cost But Have No Idea What They Are Worth – We No Longer Ask Of A Judicial Ruling Or A Legislative Act: Is It Good? – Is If Fair? – Is It Right? – Will It Help Bring About A Better Society Or A Better World? – Those Used To Be – The – Political Questions – Even If They Invited No Easy Answers – We Must Learn Once Again To Pose Them – We Cannot Go On Living Like This – And Yet We Seem Unable To Conceive Of Alternatives – This Too Is Something New

~ TRGIAWATWIITI-B-ATFTIAGSOF-‘BWCWBI?’-‘WSWD?’ ~ The Rising Generation Is Acutely Worried About The World It Is To Inherit – But – Accompanying These Fears There Is A General Sentiment Of Frustration – “But What Can We Believe In?” – “What Should We Do”

~ S-TS-IGTBWUFTFF-WWDWTTAWSOASWW ~ Since – The State – Is Going To Be With Us For The Foreseeable Future – We Would Do Well To Think About What Sort Of A State We Want

~ IBF-A-F-FOC-FOD-FOSAAUW ~ Insecurity Breed Fear – And – Fear – Fear Of Change / Fear Of Decline / Fear Of Strangers And An Unfamiliar World

~ TCAC-THBACIIM-TPSP ~ The Consequences Are Clear – There Has Been A Collapse In Intergenerational Mobility – The Poor Stay Poor

TWTSBTWFATIM-TWTSP-TFRAPCA ~ The Wider The Spread Between The Wealthy Few And The Impoverished Many – The Worse The Social Problems – True For Rich And Poor Countries Alike

~ TY-O-GI-H-C-TTIA-NCOL-AWWCDL ~ Thirty Years – Of – Growing Inequality – Have – Convinced – That This Is A – Natural Condition Of Life – About Which We Can Do Little

~ IIOTTDAIAIP;IIQATRIT ~ It Is One Thing To Dwell Amongst Inequality And Its Pathologies; It Is Quite Another To Revel In Them

~ R-PAS-R-T-SL-WACPITSRTM20CP-TWHOATOBOT ~ Restoring – Pride And Self-Respect – To – Society’s Losers – Was A Central Platform In The Social Reforms That Marked 20th Century Progress – Today We Have Once Again Turned Our Back On Them

~ AWDITLB-AD-‘FM’~ Are We Doomed Indefinitely To Lurch Between – A Dysfunctional – “Free Market” – And – The Much-Advertised Horrors Of – “Socialism”?

~ TD-WTPIBTETIPOO ~ These Days – We Take Pride In Being Tough Enough To Inflict Pain On Others

~ WCCTEOWATCWMIAMV ~ We Cannot Continue To Evaluate Our World And The Choices We Make In A Moral Vacuum

~ MDNAG-T-C-O-CAFTCG-SB-TR-A-TCAOSAEE-C-‘IH’-BFTFITIUCFTMSOIP ~ Markets Do Not Automatically Generate – Trust – Cooperation – Or – Collective Action For The Common Good – Sustained By – Traditional Restraints – And – The Continuing Authority Of Secular And Ecclesiastical Elites – Capitalism’s – “Invisible Hand” – Benefited From The Flattering Illusion That It Unerringly Corrected For The Moral Shortcomings Of Its Practitioners

~ HSWBTMAFRAGOWTPOMWAITSME?-PWMSBROAOCTIWAT-T-‘E’-AWHDNFTY-INITH ~ How Should We Begin To Make Amends For Raising A Generation Obsessed With The Pursuit Of Material Wealth And Indifferent To So Much Else? – Perhaps We Might Start By Reminding Ourselves And Our Children That It Wasn’t Always Thus – Thinking – “Economistically” – As We Have Done Now For Thirty Years – Is Not Intrinsic To Humans

~ NCNLWSVLWOA ~ Neither Capitalism Nor Liberalism Would Survive Very Long Without One Another

~ IWT-FAD-O-T-MC-WHGRTF ~ It Was The – Fear And Disaffection – Of – The – Middle Class – Which Had Given Rise To Fascism

~ ACURT ~ All Collective Undertakings Require Trust

~ TMETS-TGTT ~ The More Equal The Society – The Greater The Trust

~ N-OC-IEQAGAWR ~ Nothing – Of Course – Is Ever Quite As Good As We Remember

~ WWHBWITSSOPROTPSTNDCA-CTETAPM-PII ~ What We Have Been Watching Is The Steady Shift Of Public Responsibility Onto The Private Sector To No Discernible Collective Advantage – Contrary To Economic Theory And Popular Myth – Privatization Is Inefficient

~ ITSR-DCSTIOTC ~ In The Short Run – Democracies Can Survive The Indifference Of Their Citizens

~ PITWYAG-NOHACSORFTTGD-IAKORHAHAEAB ~ Participation In The Way You Are Governed – Not Only Heightens A Collective Sense Of Responsibility For The Things Government Does – It Also Keeps Our Rulers Honest And Holds Authoritarian Excess At Bay

~ IWFEFTMOOCA-WSNBTSUAT-ITC-WSNBSTDTNOILTUU ~ If We Feel Excluded From The Management Of Our Collective Affairs – We Shall Not Bother To Speak Up About Them – In That Case – We Should Not Be Surprised To Discover That No One Is Listening To Us

~ CT-TILTCD-TDL ~ Convinced That – There Is Little They Can Do – They Do Little

~ TOTWTTMGITL;IFS-PSALAMVAIAUAR ~ The Only Thing Worse Than Too Much Government Is Too Little; In Failed States – People Suffer At Least As Much Violence And Injustice As Under Authoritarian Rule

~ A-CCOOOI-IWDOOINA-O-AOWCASL-LICTREOITNC ~ A – Closed Circle Of Opinion Or Ideas – Into Which Discontent Or Opposition Is Never Allowed – Or – Allowed Only Within Circumscribed And Stylized Limits – Loses Its Capacity To Respond Energetically Or Imaginatively To New Challenges

~ WNTR-LHT-CTWGU ~ We Need To Re-Learn How To – Criticize Those Who Govern Us

~ DAD-AO-TWOTY ~ Dissent And Dissidence – Are Overwhelmingly – The Work Of The Young

~ DMRWTLASIGTPC ~ Dissent Must Remain Within The Law And Seek Its Goals Through Political Channels

~ CADAYP:WITBOTIWDNTSTIOGW? ~ Cynicism And Despair Among Young People: What Is To Become Of Them If We Do Not Take Seriously The Implications Of Global Warming?

~ TWBFW-HDOTTWAAW ~ Those Who Benefit From War – Have Different Objectives Than Those Who Are Against War

~ SACACCI-TDDOCOWOI-IJAWTPOSOIAA ~ Societies Are Complex And Contain Conflicting Interests – To Deny Distinctions Of Class Or Wealth Or Influence – Is Just A Way To Promote One Set Of Interests Above Another

~ TPDLTBROTP ~ The Privileged Don’t Like To Be Reminded Of Their Privileges

~ ICFCTEDPR ~ International Capital Flows Continue To Elude Domestic Political Regulation

~ TS-MNBTP-II’-SB-P-I-C-A-U-U-C-O-IA-A-TS-OALT-DS-RAULITEOIC-IAATTATTI ~ The State – May Now Be The Primary – “Intermediate Institution” – Standing Between – Powerless – Insecure – Citizens – And – Unresponsive – Unaccountable – Corporations – Or – International Agencies – And – The State – Or At Least The – Democratic State – Retains A Unique Legitimacy In The Eyes Of Its Citizens – It Alone Answers To Them And They To It

~ F-R-CIR-O-RTDWTSPAEOOOAG-WFOR ~ Freedom – Rather – Consists In Retaining – Our – Right To Disagree With The State’s Purposes And Express Our Own Objections And Goals – Without Fear Of Retribution

~ PG-ITATRP-NTBPAPE ~ Public Goods – If They Are To Remain Public – Need To Be Provided At Public Expense

~ TFT-TROO-TAOT20C-AWTLCOAHRTDT-WTFGT-I/L/S/R-TWHIFTGAO20CR-IITTROTAOTWUIARA-1929-WATFBOATWSAIWU-TIMTD ~ The First Task – To Remind Ourselves Of – The Achievements Of The 20th Century – Along With The Likely Consequences Of A Heedless Rush To Dismantle Them – We Take For Granted The – Institutions / Legislation / Services / Rights – That We Have Inherited From The Great Age Of 20th Century Reform – It Is Time To Remind Ourselves That All Of These Were Utterly Inconceivable As Recently As – 1929 – We Are The Fortunate Beneficiaries Of A Transformation Whose Scale And Impact Was Unprecedented – There Is Much To Defend

~ WAIFWIO-I/U/I/I-WHJFHTTAT ~ We Are Intuitively Familiar With Issues Of – Injustice / Unfairness / Inequality / Immorality – We Have Just Forgotten How To Talk About Them

CHARLES MACKAY ~ WITCH MANIA ~ EXTRAORDINARY POPULAR DELUSIONS AND THE MADNESS OF CROWDS ~ 1841

~ E-FAPO-TCAAH-BUTI-NOT-PSWTETMITAOM-B-TMH-PTSESTTATWWUTF-AETSUTN-ECTB-ATAW-NVO-P-B-TWOSNH-W-WOI-CTITRTFAPAHAAW-TWWOET-TUTOUPFVTTCAAD ~ Europe – For A Period Of – Two Centuries And A Half – Brooded Upon The Idea – Not Only That – Parted Spirits Walked The Earth To Meddle In The Affairs Of Men – But – That Men Had – Power To Summon Evil Spirits To Their Aid To Work Woe Upon Their Fellows – An Epidemic Terror Seized Upon The Nations – Every Calamity That Befell – Attributed To A Witch – Not Visitations Of – Providence – But – The Works Of Some Neighbouring Hag – Whose – Wretchedness Or Insanity – Caused The Ignorant To Raise Their Finger And Point At Her As A Witch – The Word Was One Everybody’s Tongue – Thousands Upon Thousands Of Unhappy Persons Fell Victims To This Cruel And Absurd Delusion

~ PFW-IWACIWSME-A-RWSMD-T-TP-WTWT-RTW-A-CFNOIUT-HOTATOWTETD-TCWMTPFTMVP-BOIAOC-WROWP-POR ~ Prosecutions For Witchcraft – It Was A Crime Imputed With So Much Ease – And – Repelled With So Much Difficulty – That – The Powerful – Whenever They Wanted To – Ruin The Weak – And – Could Fix No Other Imputation Upon Them – Had Only To Accuse Them Of Witchcraft To Ensure Their Destruction – This Crime Was Made The Pretext For The Most Violent Persecution – Both Of Individuals And Of Communities – Whose Real Offences Were Purely – Political Or Religious

~ TTCOTFABOTFC-MWWB-IDPO-E ~ Towards The Close Of The Fourteenth And Beginning Of The Fifteenth Century – Many Witches Were Burned – In Different Parts Of – Europe

~ AANCOTSP-TCOTPTI-I-TWFTAATWTP-ITHTBPOABAMD-WTHTPITT-TTMBRUTP ~ As A Natural Consequence Of The Severe Persecution – The Crime Or The Pretenders To It – Increased – Those Who Found Themselves Accused And Threatened With The Penalties – If They Happened To Be Persons Of A Bad And Malicious Disposition – Wished They Had The Power Imputed To Them – That They Might Be Revenged Upon Their Persecutors

~ W-RAL-A-RTC-IINWT-TWIRATSII-EWTWOANT-FTEWT-TP-OWATWWS ~ When – Religion And Law – Alike – Recognized The Crime – It Is No Wonder That – The Weak In Reason And The Strong In Imagination – Especially When They Were Of A Nervous Temperament – Fancied Themselves Endued With The – Terrible Powers – Of Which All The World Was Speaking

~ TR-TCIF-MTA-CA ~ The Rack – That Convenient Instrument For – Making The Accused – Confess Anything

~ UT-C-JWP:T-POW-AUISC-W-HABITM-P;TM-WD-WATE-UPOLS ~ Upon These – Confessions – Judgment Was Pronounced: The – Poor Old Women – As Usual In Such Cases – Were – Hanged And Burned In The Market-Place; The More – Wealthy Delinquents – Were Allowed To Escape – Upon Payment Of Large Sums

~ TMTB-TMTFTB-UIBA-CP-W-WITHWOL-TTMNLTGO-IWSTB-A-P-A-I-T-TE-DATSOTS ~ The More They Burned – The More They Found To Burn – Until It Became A – Common Prayer – With – Women In The Humbler Walks Of Life – That They Might Never Live To Grow Old – It Was Sufficient To Be – Aged – Poor – And – Ill-Tempered – To Ensure – Death At The Stake Or The Scaffold

~ ‘CEC’ ~ “Convicta Et Combusta”

~ I-ACOM-SUIE-WMITSBOTL-T-DABW ~ Immediately – A Class Of Men – Sprang Up In Europe – Who Made It The Sole Business Of Their Lives – To – Discover And Burn The Witches

~ T-NF-TETARBTI ~ Torture – Never Failed – To Educe The Answer Require By The Inquisitor

~ TTI-T-PWD-FIWTNOCHCOTSOAWWWNAADITA:THWFATWHITS ~ The Truth Is – That – Pity Was Dangerous – For It Was Thought No One Could Have Compassion On The Sufferings Of A Witch Who Was Not A Dabbler In The Art: To Have Wept For A Witch Would Have Insured The Stake

~ ITMOTE-RWTGOM;FIAUR-OA-A-TP-WTCWW ~ In The Midst Of These Executions – Rare Were The Gleams Of Mercy; Few Instances Are Upon Record – Of Any – Acquittal – Taking Place – When The Charge Was Witchcraft

~ W-F-O-W-P-BAT-A-ASOMVRATCPW-LP-T-RITFOSC-SS-DOF-NUT-I-AP-WDNB-WPUI-WDTTD ~ Witch-Finding – Or – Witch-Pricking – Became A Trade – And – A Set Of Mercenary Vagabonds Roamed About The Country Provided With – Long Pins – To – Run Into The Flesh Of Supposed Criminals – Some Spot – Devoid Of Feeling – No Unusual Thing – In – Aged Persons – Who Did Not Bleed – When Pricked Upon It – Was Doomed To The Death

~ TPWWIGAOTC-W-P-I-MAW-WDNUTNOTA-A-WMTOSFFW ~ The Persons Who Were In General Accused Of This Crime – Were – Poor – Ignorant – Men And Women – Who Did Not Understand The Nature Of The Accusation – And – Who Mistook Their Own Superstitious Fears For Witchcraft

~ SDRASETACRT-S-IICTT-T-TDHPA-T-TRMHGPTAMF-AT-WMNCBUTVOAS-WIFA-NIVBTTAIVBM ~ So Deeply Rooted Are Some Errors That Ages Cannot Remove Them – Still – It Is Consoling To Think – That – The Delirium Has Passed Away – That – The Raging Madness Has Given Place To A Milder Folly – And That – We May Now Count By Units The Votaries Of A Superstition – Which In Former Ages – Numbered Its Victims By The Thousands And Its Votaries By Millions

STEPHANIE KELTON ~ THE DEFICIT MYTHS THAT HAVE HOBBLED US ~ THE DEFICIT MYTH ~ 2020

MYTH #1:

~ TFGSBLAH ~ The Federal Government Should Budget Like A Household

REALITY:

~ DTOAH ~ Don’t Think Of A Household

~ UAH-TFGITCIS-ASPTMBEWGC-TSCROOP-TGITC-A-EE-H.PB/SALG/F-MUI ~ Unlike A Household – The Federal Government Issues The Currency It Spends – A Special Power That Must Be Exercised With Great Care – The Scorekeeper Can’t Run Out Of Points – The Government Issues The Currency – And – Everyone Else – Household / Private Business / State And Local Governments / Foreigners – Merely Uses It

MYTH #2

~ DAEOO ~ Deficits Are Evidence Of Overspending

REALITY

~ TOI ~ Think Of Inflation

~ FEOO-LT-I-ADIOEOOIISI ~ For Evidence Of Overspending – Look To – Inflation – A Deficit Is Only Evidence Of Overspending If It Sparks Inflation

MYTH #3

~ OWOA-WAOTH ~ One Way Or Another – We’re All On The Hook

REALITY

~ TND(TI) ~ The National Debt (That Isn’t)

~ TNDPNFBW ~ The National Debt Poses No Financial Burden Whatsoever

MYTH #4

~ GDCOPI-MUP ~ Government Deficits Crowd Out Private Investment – Making Us Poorer

REALITY

~ TRIIOBI ~ Their Red Ink Is Our Black Ink

~ FDIOWACS-GD=NS-TTITPTDFGTBOTS ~ Fiscal Deficits Increase Our Wealth And Collective Savings – Government Deficit = Nongovernment Surplus – The Trick Is To Prevent The Deficit From Getting Too Big Or Too Small

MYTH #5

~ TD-M-L ~ Trade Deficit – Means – Losing

REALITY

~ TS-I-‘S’-S ~ Trade Surplus – Is – “Stuff” – Surplus

~ TPISSWCA;ISWCANTA ~ Trade Peace Isn’t Simply Something We Can Achieve; It’s Something We Can’t Afford Not To Achieve

REALITY

MYTH #6

~ ‘E’-P-L-SSAM-A-FU-WCATAM ~ “Entitlement” – Programs – Like – Social Security And Medicare – Are – Financially Unsustainable – We Can’t Afford Them Any More

REALITY

~ YE! ~ You’re Entitled!

~ ALATFGCTMTP-ICAATSTP-EPWHMOUAOTOA-OSSNSOSBWOAAHTSTEAAW ~ As Long As The Federal Government Commits To Making The Payments – It Can Always Afford To Support These Programs – Entitlement Programs Will Help Most Of Us At One Time Or Another – Our Social Safety Nets Strengthen Our Social Bonds With One Another And Help To Support The Economy As A Whole

STEPHANIE KELTON ~ THE DEFICIT MYTH ~ 2020

~ HC-I-E-CC-B-HAYGTPFI? ~ Health Care – Infrastructure – Education – Climate Change – But – How Are You Going To Pay For It?

~ B-WIT-FB-W-FD-TY-HB? ~ But – What If The – Federal Budget – Was – Fundamentally Different – Than Your – Household Budget?

~ WICT-IOPW-B-WHFMOTWR-B-WDNTSTTMTHBHUB ~ When It Come To – Increasing Our Public Well-Being – We Have Far More Options Than We Realize – But – We Desperately Need To See Through The Myths That Have Been Holding Us Back

~ MMT ~ Modern Monetary Theory

~ B-TITTPFWTGSIPF ~ But – The Idea That Taxes Pay For What The Government Spends Is Pure Fantasy

~ JBTANFCOTFB-DMTARLTWTGC(AS)D-RB-TAOORPR-TSOT-A-TQAQO-L/W/F/M/OM-ITGTTSTMIAETARAFS-IWA ~ ~ Just Because There Are Not Financial Constraints On The Federal Budget – Doesn’t Mean There Aren’t Real Limits To What The Government Can (And Should) Do – Regulated By – The Availability Of Our Real Productive Resources – The State Of Technology – And – The Quantity And Quality Of – Land/Workers/Factories/Machines/Other Materials – If The Government Tries To Spend Too Much Into An Economy That’s Already Running At Full Speed – Inflation Will Accelerate

~ MMT-DTRLFDAUS-IC ~ MMT – Distinguishes The Real Limits From Delusional And Unnecessary Self-Imposed Constraints

~ SONSIAPD-O-TEROABSBTC-B-SSNBCB-ABT-O-ABATS-CSF ~ Spending Or Not Spending Is A Political Decision – Obviously – The Economic Ramifications Of Any Bill Should Be Thoroughly Considered – But – Spending Should Never Be Constrained By – Arbitrary Budget Targets – Or – A Blind Allegiance To So-Called Sound Finance

~ TMICOGSII ~ The Most Important Constraint On Government Spending Is Inflation

~ IOAOTMC-LSBFAWPSTBCOMTNOOEP-TMCABT-TQI-WWTMB? ~ Instead Of Arguing Over The Monetary Cost – Lawmakers Should Be Fighting About Whose Policies Stand The Best Chance Of Meeting The Needs Of Our Entire Population – The Money Can Always Be There – The Question Is – What Will That Money Buy?

~ TRCTWFHNTDWT-FD-O-E-P/I/I/VNRWGST1970/CC-TA-RC ~ The Real Crises That We’re Facing Have Nothing To Do With The – Federal Deficit – Or – Entitlements – Poverty / Infrastructure / Inequality / Virtually No Real Wage Growth Since The 1970s / Climate Change – These Are – Real Crises

~ WNTSTTMAROATWHTPAA ~ We Need To See Through The Myths And Remember Once Again That We’ve Had The Power All Along

~ UAH-TFGITCIS-ASPTMBEWGC ~ Unlike A Household – The Federal Government Issues The Currency It Spends – A Special Power That Must Be Exercised With Great Care

~ W-C-WLON-MS-FTPBD-T-CFUDJLAH ~ When – Countries – With Little Or No – Monetary Sovereignty – Fail To Prioritize Budget Discipline – They – Can Face Unsustainable Debts Just Like A Household

~ ATTDSBLUAT-TACI-B-TNRTATGMRTWIWTIIOE ~ Adding To The Deficit Shouldn’t Be Looked Upon As Taboo – Taxes Are Critically Important – But – There’s No Reason To Assume The Government Must Raise Taxes Whenever It Wants To Invest In Our Economy

~ DSITN ~ Deficit Spending Is The Norm

~ BTGC-S(D)-ADAFU-IMF-A(C)-T-SMCF-O-WWAHGTDTNTPTT? ~ Before The Government Could – Subtract (Debit) – Any Dollars Away From Us – It Must First – Add (Credit) – Them – Spending Must Come First – Otherwise – Where Would Anyone Have Gotten The Dollars They Needed To Pay The Tax?

~ T-ITT-CADFTGC-BACPTT-SHTDTWTETC-INO-TM-TGW-IO-T-T-PTFTS-TGATSDRATTD ~ Tax – Is There To – Create A Demand For The Government’s Currency – Before Anyone Can Pay The Tax – Someone Has To Do The Work To Earn The Currency – It’s Not Our – Tax Money – The Government Wants – It’s Our – Time – To – Produce Things For The State – The Government’s Ability To Spend Doesn’t Revolve Around The Taxpayer Dollar

~ ITCHB-T-DM-WEWTUTJWS? ~ If They Couldn’t Hide Behind – The – Deficit Myth – What Excuse Would They Use To Justify Withholding Support?

~ WTILONI-IUCAROWITBE ~ When There Is Little Or No Inflation – It’s Usually Considered A Reflection Of Weakness In The Broader Economy

~ MP-INAP-IINTIT-HLP-IWMBDCABID ~ Monetary Policy – Is Not A Panacea – It Is Not The Ideal Tool – Has Limited Potency – It Works Mainly By Driving Consumers And Businesses Into Debt

~ WMINWTGBIISOD-B-WTGIUIBTAGOFTROTE ~ What Matters Is Not Whether The Governments Budget Is In Surplus Or Deficit – But –Whether The Government Is Using Its Budget To Achieve Good Outcomes For The Rest Of The Economy

~ TTTOCW-B-I-T-BD-I-EI ~ The Threat To Our Common Well-Being – Isn’t – The – Budget Deficit – It’s – Excessive Inflation

~ AIC-MMT-IARA-A(R)C-WA-R(I)C ~ At It’s Core – MMT – Is About Replacing An – Artificial (Revenue) Constraint – With A – Real (Inflation) Constraint

~ OIAAOP-B-SIRTAWMCBDTETHCWRI ~ Overspending Is An Abuse Of Power – But – So Is Refusing To Act When More Can Be Done To Elevate The Human Condition Without Risking Inflation

~ WDNTFTD-WNTFOT-NJTPSCTPTSTOM-B-ATHAMEDATFROTWCAIWWSA-TDITRWCHNT-OBTI ~ We Don’t Need To Fix The Debt – We Need To Fix Our Thinking – Not Just To Prevent Senseless Cuts To Programs That Support Tens Of Millions – But – Also To Have A More Enlightened Debate About The Full Range Of Things We Could Accomplish If We Weren’t So Afraid – The Debt Isn’t The Reason We Can’t Have Nice Things – Our Broken Thinking Is

~ FEDTEIOPOTE-TIAEAOSISOP-TJNWAI-GD=NS-EDTGSHTGS-A-TIOOPTDG-TN-TTITPTDFGTBOTS ~ For Every Deficit That Exists In One Part Of The Economy – There Is An Equal And Opposite Surplus In Some Other Part – There’s Just No Way Around It – Government Deficit = Nongovernment Surplus – Ever Dollar The Government Spends Has To Go Somewhere – And – There Is Only One Place Those Dollars Can Go – The Nongovernment – The Trick Is To Prevent The Deficit From Getting Too Big Or Too Small

~ STM-O-TTL-CLTP ~ Spending Too Much – Or – Taxing Too Little – Can Lead To Problems

~ DCBTB-B-TCABTS ~ Deficits Can Be Too Big – But – They Can Also Be Too Small

~ ITGI-BSP-WNFDTCRME-FE-II-HC/E/P-B-W-BPS-A-WFDHL-AM-IF-TDAHIO-SBA-TGSBITE ~ If The Goal Is – Broadly Shared Prosperity – We Need Fiscal Deficits That Channel Resources More Equitably – For Example – Investing In – Health Care / Education / Public Infrastructure – Benefit – Workers – Better Public Services – And – When Fiscal Deficits Help Low- And Middle-Income Families – Those Dollars Aren’t Hoarded In Off-Shore Bank Accounts – They Get Spent Back Into The Economy

~ CWMSANATMOFM ~ Countries With Monetary Sovereignty Are Not At The Mercy Of Financial Markets

~ TSNPRBFDAIR ~ There’s Simply No Preordained Relationship Between Fiscal Deficits And Interest Rates

~ J-AAOP ~ Joblessness – Is An Official Policy

~ AFJG-N-P-B-IBTTTPOUD(AOTSTEOU)WA-JG-FT-INLATTFE-A-TWANLNTPU ~ A – Federal Job Guarantee – No – Panacea – But – It Begins To Tackle The Problem Of Unemployment Directly (As Opposed To Subsidizing The Effects Of Unemployment) – With A – Job Grantee – Free Trade – Is No Longer A Threat To Full Employment – And – Trade Wars Are No Longer Necessary To Prevent Unemployment

~ MCATWASIASWTCROTOC-IPTBAGEFAOTP ~ Many Countries Around The World Are Stuck In A Situation Where They Can’t Rely On Their Own Currency-Issuing Powers To Build A Good Economy For All Of Their People

~ F-WMDWOPA ~ First – We Must Decide What Our Priorities Are

~ WSSATQ-HWWPFI?-A-SA-HWWRI? ~ We Should Stop Asking The Question – How Will We Pay For It? – And – Start Asking – How Will We Resource It?

~ TDTM:GJ/S/H-C/E-I/C/D ~ The Deficits That Matter: Good Jobs / Savings / Health-Care / Education / Infrastructure / Climate / Democracy

~ AEFTP-IOE-IOMS-WCMIWFU ~ An Economy For The People – It’s Our Economy – It’s Our Monetary System – We Can Make It Work For Us

THOMAS HOMER DIXON ~ COMMANDING HOPE ~ 2020

~ TPWHTRAWIP ~ The Power We Have To Renew A World In Peril

~ A-‘S’-G-OT-CAS-T-ES-T-OAO-AT-CBAWC ~ A – “Superordinate” – Goal – One That’s – Clear And Specific – That – Everyone Shares – That – Overrides All Others – And That – Can’t Be Achieved Without Cooperation

~ WBT-1.5D-T-IN-I-IWBOOT-S-P-SF-PSHFP ~ Warming Beyond The – 1.5 Degree – Threshold – Is Now – Inevitable – It Will Be One Of The – Slow-Process – Structural Factors – Profoundly Shaping Humanity’s Future Possibilities

~ OC-CAFMDFSTO-B-ITDCWUCU-AOU-TWI-WEFO-BNC ~ Of Course – Conditions Are Far More Dire For Some Than Others – But – If The Dangerous Changes We’ve Unleashed Continue Unabated – All Of Us – The Wealthiest Included – Will Eventually Find Our – Basic Needs Compromised

~ IWGTPT-WN-PAG-TCTFA-IAC-VOTF-T-PE-CTTH-AICWEO-A-RA-AT-WWETTR ~ If We’re Going To Pull Together – We Need – Principles And Goals – That Combine To Form An – Inspiring And Coherent – Vision Of The Future – That – People Everywhere – Can Take To Heart – Affirm In Conversation With Each Other – And – Rally Around – And Then – Work With Excitement Together To Reach

~ RPTH ~ ~ The Path To Hope

~ HB-CCNAOT-SR-SB-BTTR-CTBAT-A-TACTOT ~ Human Beings – Can Create New Aspects Of Their – Social Reality – Simply By – Believing That They’re Real – Communicating Those Beliefs Among Themselves – And – Then Acting Concretely Together On Them

~ IOCADETDUTAMUS-TCATCOTSMR-HUT-VAOD-THAO-PAB-TC-A-EE-TTTPUAAMUD ~ Instead Of Creating A Digital Environment That Draws Us Together And Makes Us Smarter – The Companies At The Core Of The Social Media Revolution – Have Used The – Vast Amounts Of Data – They Harvest About Our – Preferences And Behaviors – To Create – An – Emotional Environment – That Tends To Pull Us Apart And Make Us Dumber

~ M-E-O-S-A-C-O-L-GMR-B-CA-AIE-O-C-CAE-S-A-ATETWBA-O-A-(S)A-SEMUFCI-EUTCIGOL-MFPP-A-DTTBDPTEFACOW-TAU-TA-S-EOFITF ~ More – Eyeballs – On – Sites – And – Clicks – On – Links – Generate More Revenue – By – Creating An – Addictive Information Environment – Of – Constant – Cognitive And Emotional – Stimulus – And – Among The Emotions That Work Best Are – Outrage – And – (Social) Anxiety – Such Emotions Make Us Feel Chronically Insecure – Encourage Us To Coalesce Into Groups Of The Like-Minded For Psychological Protection – And – Dissolve The Trust Between Divers Peoples That’s Essential For A Consensus On What’s – True And Untrue – They Also – Subtly – Erode Our Faith In The Future

~ MME-A-PC-A-T-C-WPITRD-CB-AEFFG ~ Modern Market Economies – Are – Prodigiously Creative – And – That – Creativity – When Pointed In The Right Direction – Can Be – An Extraordinary Force For Good

~ ‘MI’ ~ “Motivated Inference”

~ HIDEIN-A-S-IDOI ~ Humanity Is Deeply Enmeshed In Nature – And – So – Intimately Dependent On It

~ B-MOUSWOCW-EWAESINBU-B-IOOR-A-GOLM ~ But – Most Of Us Stick With Our Current Worldview – Even When Abundant Evidence Shows It’s Not Benefiting Us – Because – It Orders Our Reality – And – Gives Our Lives Meaning

~ IISITHOCBTCMAD ~ It’s So Important To Help Our Children Believe They Can Make A Difference

~ H-IIF-D-O-I-W-C-CTBD ~ Humanity – If In Fact – Doomed – Only – If – We – Collectively – Choose To Be Doomed

~ H-CAW-AIUP-UEOU-FABROC-TOOAFTPT-AMOAC-‘W’ ~ Humanity – Can’t And Won’t – Address Its Urgent Problems – Until Enough Of Us – From A Broad Range Of Cultures – Think Of Ourselves As Facing These Problems Together – As Members Of A Common – “We”

~ BO-CP-AN-GIBTCAS-WN-BCA-ATWS-TATS ~ Because Our – Critical Problems – Are Now – Global – In Both Their Causes And Scope – We Need – Broad Collective Action – Across The World’s Societies – To Address Them Successfully

~ ‘POC’-MB-OOO-B-LI ~ “Protect Our Children” – Must Be – One Of Our – Bottom-Line Injunctions