MICHAEL ELLSBERG ~ THE EDUCATION OF MILLIONAIRES ~ 2011

~ TMVTFIAOOOL-TMWAOB-A-TMAIG ~ The More Value That Flows In And Out Of Our Lives – The More We And Others Benefit – And – The More Affluence Is Generated

~ SIIOS ~ Success Is Its Own Skill

~ TT-SOTC-TT-TSOS-F-YCLTSOSWYALYC-B-DGFITYONTGGAYC ~ There’s The – Skill Of The Craft – Then There’s – The Skill Of Success – Fortunately – You Can Learn This Skill Of Success While You Also Learn Your Craft – But – Don’t Get Fooled Into Thinking You Only Need To Get Good At Your Craft

~ IYCGPW-DKAY-O-YSOYC-TBAO-Y-TY-SIM ~ If You Can Get People Who – Don’t Know About You – Or – Your Service Or Your Company – To Become Aware Of – You – Then You’re – Successful In Marketing

~ TDKAY-SH-AN-TKAY-T-SM ~ They Didn’t Know About You – Something Happened – And Now – They Know About You – That’s – Successful Marketing

~ LHTS-BC-TR-A-EEFIP ~ Learn How To Sell – By Creating – Trusting Relationships – And – Everything Else Falls Into Place

~ TEO-B-I-KEL-GIRA(EIIJALB)-A-CRAMOTIAEAPIEOFI ~ The Essence Of – Bootstrapping – Is – Keeping Expenses Low – Generating Income Right Away (Even If It’s Just A Little Bit) – And – Continually Reinvesting As Much Of That Income As Effectively As Possible Into Expanding Our Future Income

~ OC-IOTEYO-YHTBO ~ Of Course – In Order To Express Your Originality – You Have To Be Original

~ BTAOYOL ~ Become The Author Of Your Own Life

~ F-100%-O-YE-OWIYC-WCYDN?-HCYLABFTE?-HCYMF? ~ Focus – 100 Percent – Of – Your Energy – On What’s In Our Control – What Can You Do Now? – How Can You Learn And Benefit From The Experience? – How Can You Move Forward?

~ IT-IUACW-TWCFTAFITFYEOC-S-H-A-WOB-TWWFYUAWROMCAER-AWW-AYTBBAAT-C-S-S-C-A-NO-ATA-TIC-CR ~ In This – Increasingly Unpredictable And Chaotic World – The Wisest Choice For Thriving And Flourishing Is To Focus Your Efforts On Cultivating – Skills – Habits – And – Ways Of Being – That Will Work For You Under A Wide Range Of Market Circumstances And Economic Realities – And Which Will – Allow You To Bounce Back And Adapt To – Changes – Shifts – Shocks – Crashes – And – New Opportunities – As They Arise – This Is Called – Cultivating Resilience

~ IOTIS-ITWAGTNALO-R/F/A-IWWT-SAT-ATWOC ~ If One Thing Is Sure – It’s That We’re All Going To Need A Lot Of – Resilience / Flexibility / Adaptability – If We Want To – Survive And Thrive – Amid The Waves Of Change

DAN ARIELY ~ THE (HONEST) TRUTH ABOUT DISHONESTY ~ 2012

~ WLTE-EO ~ We Lie To Everyone – Especially Ourselves

~ WD-CAS-AMAWWIWWPRAAOIOOS-I ~ We Don’t – Cheat And Steal – As Much As We Would If We Were Perfectly Rational And Acted Only In Our Own Self-Interest

~ TPOGCDHASIOTAOC ~ The Probability Of Getting Caught Doesn’t Have A Substantial Influence On The Amount Of Cheating

~ Rather – Our Sense Of Our Own Morality Is Connected To The Amount Of Cheating We Feel Comfortable With – Essentially – We Cheat Up To The Level That Allows Us To Retain Our Self-Image – As A Reasonably Honest Individual

~ EOUHALT-HMWCC-BIBA-‘S’ ~ Each Of Us Has A Limit To – How Much We Can Cheat – Before It Becomes Absolutely – “Sinful”

~ TFF-TDBBTCDTMAPS-IATBFC ~ The Fudge Factor – The Delicate Balance Between The Contradictory Desires To Maintain A Positive Self-Image And To Benefit From Cheating

~ AITO-PAMATBDITPONO-SAPAT-TAM ~ As It Turns Out – People Are More Apt To Be Dishonest In The Presence Of Nonmonetary Objects – Such As Pencils And Tokens – Than Actual Money

~ IST-WWASRO-ES-WBMH ~ It Seems That – When We Are Simply Reminded Of – Ethical Standards – We Behave More Honorably

~ WPSTNTSKOP-IPTIAMHD(ALT)-IPSBTEADOTF-TCL ~ When People Sign Their Names To Some Kind Of Pledge – It Puts Them Into A More Honest Disposition (At Least Temporarily) – If People Sign Before They Enter Any Data Onto The Form – They Cheat Less

~ AAFW-IDTIRQATVOTWWPM ~ After A Few Weeks – I Discovered That I Rather Quickly Adopted The Viewpoint Of Those Who Were Paying Me

~ GS-IYWDY-WP-YWHCMTRYD-A-TDCWDYHAW ~ Generally Speaking – If You Wear Down Your – Will Power – You Will Have Considerably More Trouble Regulating Your Desires – And – That Difficulty Can Wear Down Your Honesty As Well

JULIA ANGWIN ~ DRAGNET NATION ~ 2014

~ DN ~ Dragnet Nation

~ AQF-P-S-A-F-IAWORS ~ A Quest For – Privacy – Security – And – Freedom – In A World Of Relentless Surveillance

~ WALIADN ~ We Are Living In A Dragnet Nation

~ AWOIT ~ A World Of Indiscriminate Tracking

~ CARPFLCD ~ Companies Are Rarely Penalized For Losing Customer Data

~ PL-DTATPTTEAAS ~ Police Lineup – Dragnets That Allow The Police To Treat Everyone As A Suspect

~ IUPQ ~ Innocent Until Proven Guilty

~ IWTTBRI-TDW-FLSWHW ~ I Want There To Be Room In – The Digital World For – Letters Sealed With Hot Wax

~ DWWTLIAWWWAAAROBH? ~ Do We Want To Live In A World Where We Are Always At Risk Of Being Hacked?

~ PS ~ Public Space

~ TPD ~ Third-Party Doctrine

~ MD ~ MetaData

~ ATT-ISLA-UEM ~ At The Time – It Seemed Like An – Understandable Emergency Measure

~ SD-HB-TNN ~ Suspicionless Dragnets – Had Become – The New Normal

~ F-SVHABM:T ~ Finally – Silicon Valley Had A Business Model: Tracking

~ ‘DDC’ ~ “Dark Data Circle”

~ TGRCTCD-AT-SITCE-WLTDASIBTTG ~ The Government Requires Citizens To Create Data – And Then – Sells It To Commercial Entities – Which Launder The Data And Sell It Back To The Government

~ TRITCAGDAIL;NCEWTO ~ The Reality Is That Corporate And Government Dragnets Are Inextricably Linked; Neither Can Exist Without The Other

~ PCWSAMBCTBATIA ~ People Cope With Surveillance As Much By Changing Their Behavior As Through Increased Anxiety

~ FOA ~ Freedom Of Association

~ CPBTAIAFTORR ~ Categorizing People By Their Associations Is A Favorite Tactic Of Repressive Regimes

~ PSNB-PFJG-O-A-CIJG ~ People Should Not Be – Prevented From Joining Groups – Or – Alternatively – Coerced Into Joining Groups

~ ITW-ECWMAUW-AP-AP-O-AI ~ In Today’s World – Every Choice We Make Associates Us With – A Person – A Place – Or – An Idea

~ DTAIQLPIDD? ~ Does The Activity In Question Limit Participation In Democratic Debate?

~ TM ~ Threat Model

~ TROIT ~ The Rise Of Indiscriminate Tracking

~ IT-CETCOA-TSS ~ Indiscriminate Tracking – Could Enable The Creation Of A – Totalitarian Surveillance State

~ SV ~ Surveillance Vegan

~ LB ~ Lookup Business

~ TOIWTOOTNTTSQWETC ~ Turns Out I Wasn’t The Only One To Notice That The Security Questions Were Easy To Circumvent

~ PNR ~ Passenger Name Records

~ N-VIP ~ NOT – VIP

~ BIHACTLM-PP-IWH ~ Before I Had A Chance To Launch My – Privacy Project – I Was Hacked

~ ‘PUITW’ ~ “Password Use In The Wild”

~ ATGGO ~ Appealing The Government’s Gag Order

~ U-TQITSAFAD-WTDBAE? ~ Ultimately – The Question Is The Same As For All Dragnets – Will The Data Be Abused Eventually?

~ IWCTTAJFM ~ It Was Clearly Too Technical A Job For Me

~ UAU-CIMA ~ Unloved And Untrendy – Cash It Mostly Anonymous

~ WWHIEOIYSL? ~ What Would Happen If Every One In Your Situation Lied?

~ TA ~ “Traffic Analysis”

~ PIKTOOP ~ “Pseudonymity Is Key To Our Online Privacy”

~ THOM ~ The Hall Of Mirrors

~ TICBATCIED ~ The Information Collected By Ad-Tracking Companies Is Extremely Detailed

~’PC’~ “Perceived Control”

~ DARBAC ~ Data About Readers Became A Commodity

~ IAAKEAYEYN-DTNRM? ~ If An Advertiser Knows Everything About You Except Your Name – Does The Name Really Matter?

~ ‘THYD-HT-W-LT’ ~ “That’s How You Defeat – High-Tech – With – Low-Tech”

~ AUD ~ An Unfairness Doctrine

~ “SousVeillance”

~ OWT-ETPF-WBFETBI-TSB-‘SV’-CMTGFB-AAA-TGMTFA ~ One Way To – Even The Playing Field – Would Be For Everyone To Be In – The Surveillance Business – “SousVeillance” – Citizens Monitor The Government From Below – As Aggressively As – The Government Monitors Them From Above

~ NAC ~ New Asset Class

~ PLTGPTRTSTDTIUAT-SLAGI ~ Privacy Laws That Give People The Right To See The Data That Is Used Against Them – Seem Like A Good Idea

~ GDMNBC-TMBSBEALBOAC ~ Government Dragnets Must Not Be Covert – They Must Be Scrutinized By Either A Legislative Body Or A Court

~ O-SLIU-TQ-HUIA? ~ Okay – So Life Is Unfair – The Question – How Unfair Is Acceptable?

~ D-TD-PIWLRT-A-C-A-D-TD? ~ Does – The Dragnet – Provide Individuals With Legal Right To – Access – Correct – And – Dispute The Data?

~ ATDOHAFTWTDAU? ~ Are The Dragnet Operators Held Accountable For The Way The Data Are Used?

~ I-TD-TIFIP?-DIBS?-CIWPS? ~ Is – The Dragnet – Too Intrusive For Its Purpose? – Does It Benefit Society? – Can It Withstand Public Scrutiny?

LI PARISER ~ THE FILTER BUBBLE ~ 2011

~ D-RCTSTFOAPOV-B-I-WMAMEI-OOB ~ Democracy – Requires Citizens To See Things From One Another’s Point Of View – But – Instead – We’re More And More Enclosed In – Our Own Bubbles

~ T-NI-DJKYAD;IKYBAWTSYABOPK ~ The – New Internet – Doesn’t Just Know You’re A Dog; It Knows Your Breed And Wants To Sell You A Bowl Of Premium Kibble

~ I-P-ITA-ICPUFCICW-T-M-B-P-S-E-A-I-TCHWTATWAO ~ If – Personalization – Is Too Acute – It Could Prevent Us From Coming Into Contact With – The – Mind-Blowing – Preconception-Shattering – Experiences – And – Ideas – That Change How We Think About The World And Ourselves

~ T-U-I-T-C ~ The – User – Is – The – Content

~ WHATTB-T-TWIAIATB ~ We Have A Tendency To Believe – That – The World Is As It Appears To Be

~ LAL-T-FB-ITTWWE-BC-WWSADS ~ Like A Lens – The – Filter Bubble – Invisibly Transforms The World We Experience – By Controlling – What We See And Don’t See

~ IWWTKWTWRLL-WHTUHFSASOVOI ~ If We Want To Know What The World Really Looks Like – We Have To Understand How Filters Shape And Skew Our View Of It

~ PF-CU-CB-B-SOEIAANO-F-TFB-SUWIWWWAF(AAA)-MUOIOMF-S-IRFOESOTKPTMUWTL ~ Personalized Filters – Can Upset – Cognitive Balance – Between – Strengthening Our Existing Ideas And Acquiring New Ones – First – The Filter Bubble – Surrounds Us With Ideas With Which We’re Already Familiar (And Already Agree) – Making Us Overconfident In Our Mental Frameworks – Second – It Removes From Our Environment Some Of The Key Prompts That Make Us Want To Learn

~ E-HALIITTTDTETW-A-AAFYOWOT-TTTSTE ~ Experts – Have A Lot Invested In The Theories They’ve Developed To Explain The World – And – After A Few Years Of Working On Them – They Tend To See Them Everywhere

~ TFB-TT-DA-CB-CITCTOIOTWIEAP;CITCUTTINWOQOAIFAD ~ The Filter Bubble – Tends To – Dramatically Amplify – Confirmation Bias – Consuming Information That Conforms To Our Ideas Of The World Is Easy And Pleasurable; Consuming Information That Challenges Us To Think In New Ways Or Question Our Assumptions Is Frustrating And Difficult

~ ITB-TPOCTVWYKGWU ~ In The Bubble – The Proportion Of Content That Validates What You Know Goes Way Up

~ SOTMICB-ASB-TIOTERITFADTRO ~ Some Of The Most Important Creative Breakthroughs – Are Spurred By – The Introduction Of The Entirely Random Ideas That Filters Are Designed To Rule Out

~ ITFB-TLD-YDSTTTDIYAA-YNELATTAMEAIYM ~ In The Filter Bubble – Things Look Different – You Don’t See The Things That Don’t Interest You At All – You’re Not Even Latently Aware That There Are Major Events And Ideas You’re Missing

~ ABTOY ~ A Bad Theory of You

~ HWB-IABAB-OFAPS ~ How We Behave – Is A Balancing Act Between – Our Future And Present Selves

~ WIAWF-WAWWC ~ With Information As With Food – We Are What We Consume

~ TIAYL ~ Trapped In A You Loop

~ SWHWTITYD? ~ So What Happens When The Internet Thinks Your Dumb?

~ RT-DP-AIEPP-ISW-TI-I-CI ~ Rather Than – Decentralizing Power – As Its Early Proponents Predicted – In Some Ways – The Internet – Is – Concentrating It

~ LOTC ~ Lords Of The Cloud

~ PD-S-ITC-I-MEFTGTS-T-IOAHC ~ Personal Data – Stored – In The Cloud – Is – Much Easier For The Government To Search – Than – Information On A Home Computer

~ I-KIP-T-AIKAAIP ~ If – Knowledge Is Power – Then – Asymmetries In Knowledge Are Asymmetries In Power

~ FWS-TFBWOBOTTIOSTAIBCOU ~ Friendly World Syndrome – The Filter Bubble Will Often Block Out The Things In Our Society That Are Important But Complex Or Unpleasant

~ IIBTH-SBFT-TNAA ~ It Is Better To Have – Some Bar For Truthfulness – Than None At All

~ WWCLSOOSP-TDLSOU ~ While We Can Lose Sight Of Our Shared Problems – They Don’t Lose Sight Of Us

~ U-DW-OI-WCACOTBONS-I ~ Ultimately – Democracy Works – Only If – We Citizens Are Capable Of Thinking Beyond Our Narrow Self-Interest

~ ‘CIL’ ~ “Code Is Law”

~ MOTT-E-RTITTWH-MOPC-AA ~ Much Of The Time – Engineers – Resist The Idea That Their Work Has – Moral Or Political Consequences – At All

~ $50BSC ~ $50 Billion Sand Castle

~ I-P-ROI-CT-TNFCB-SAMP-TMOUWI ~ If – Personalization – Remains On Its – Current Trajectory – The Near Future Could Be – Stranger And More Problematic – Than Many Of Us Would Imagine

~ A-A-VB-WA-CP ~ Advertar – A – Virtual Being – With A – Commercial Purpose

~ NSTA-AFVL ~ No Such Thing As – A Free Virtual Lunch

~ ‘AFM’ ~ “Advertiser-Funded Media”

~ A-T-GBABADOA-WNTWC-WIIDOAT ~ As – Technology – Gets Better And Better At Directing Our Attention – We Need To Watch Closely – What It Is Directing Our Attention Toward

~ SIASTJ ~ Serendipity Is A Shortcut To Joy

~ TNF-CSB-MT-FS-M-T-TTP-STIPTHADAHTETRITFP ~ The New Filterers – Can Start By – Making Their – Filtering Systems – More – Transparent – To The Public – So That It’s Possible To Have A Discussion About How They’re Exercising Their Responsibilities In The First Place

~ YSKWHYPD-WDTH-A-HIU ~ You Should Know Who Has Your Personal Data – What Data They Have – And – How It’s Used

~ YSBATPICAYFOPFBUFO ~ You Should Be Able To Prevent Information Collected About You For One Purpose From Being Used For Others

~ YSBATCIIAY ~ You Should Be Able To Correct Inaccurate Information About You

~ YDSBS ~ Your Data Should Be Secure

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

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

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

JOHN RALSTON SAUL ~ THE UNCONSCIOUS CIVILIZATION ~ 1995

~ TGLB ~ The Great Leap Backward

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

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

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

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

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

~ WDLL? ~ Where’s Does Legitimacy Lie?

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

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

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

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

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

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

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

~ TPWROGSE ~ The Power We Refuse Ourselves Goes Somewhere Else

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

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

~ CCAPL ~ Corporatism Cuts Across Political Lines

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

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

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

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

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

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

~ CTTFI? ~ Can The Technology Free Itself?

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

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

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

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

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

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

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

~ TDOBAUI ~ The Danger Of Becoming An Unconscious Ideologue

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

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

ROBERT FRANK ~ THE DARWIN ECONOMY ~ 2011

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

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

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

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

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

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

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

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

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

~ ICBAI? ~ Is Cost Benefit Analysis Immoral?

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

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

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

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

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

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

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

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

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

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

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

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

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

~ MPSDHV ~ Many Public Services Deliver High Value

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

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

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

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

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