PSEUDO-EVENT ~ CHARACTERISTICS ~ DANIEL BOORSTIN ~ THE IMAGE ~ 1961

~ IINS-SH-P-P-O-I-I ~ It Is Not Spontaneous – Someone Has – Planned – Planted – Or – Incited – It

~ T-II-A-I ~ Typically – It Is – An – Interview

~ IIPP(NAE)FTIPOBROR-ISIMBHWIIR ~ It Is Planned Primarily (Not Always Exclusively) For The Immediate Purpose Of Being Reported Or Reproduced – It’s Success Is Measured By How Widely It Is Reported

~ IRTTUROTSIA-IIALFTA ~ It’s Relation To The Underlying Reality Of The Situation Is Ambiguous – It’s Interest Arises Largely From This Ambiguity

~ UIIITBAS-FP ~ Usually It Is Intended To Be A Self-Fulfilling Prophecy

DANIEL BOORSTIN ~ THE IMAGE ~ 1961

~ P-E ~ Pseudo-Event

~ ALALPOOE-HHCTCOP-E-TFOC ~ A Larger And Larger Proportion Of Our Experience – Has Come To Consist Of Pseudo-Events – They Flood Our Consciousness

~ TGR ~ The Graphic Revolution

~ T-NL-IAP-EPE ~ The – News Leak – Is A Pseudo-Event Par Excellence

~ P-EPMP-E ~ Pseudo-Events Produce More Pseudo-Events

~ AP-EIAAT-PIAAF ~ A Pseudo-Event Is An Ambiguous Truth – Propaganda Is An Appealing Falsehood

~ P-ETOOHDTBI-PFOOWTBI ~ Pseudo-Events Thrive On Our Honest Desire To Be Informed – Propaganda Feeds On Our Willingness To Be Inflamed

~ POE-P-EOI ~ Propaganda Oversimplifies Experience – Pseudo-Events Overcomplicate It

~ O-‘FMOI’-IAPWPACBCP-EAAATJAT ~ Our – “Free Market Of Ideas – Is A Place Where People Are Confronted By Competing Pseudo-Events And Are Allowed To Judge Among Them

~ KOP-E-OWHBR-O-WHBS-AH-BTTOB-‘I’ ~ Knowledge Of Pseudo-Events – Of What Has Been Reported – Or – What Has Been Staged – And How – Becomes The Test Of Being – “Informed”

~ T-GR-SGU-AOT-TMOF-W-K ~ The – Graphic Revolution – Suddenly Gave Us – Among Other Things – The Means Of Fabricating – Well-Knownness

~ TQWNCMAMOWIA-‘NA’-B-AIFANCOHE ~ The Qualities Which Now Commonly Make A Man Or Woman Into A – “Nationally Advertised” – Brand – Are In Fact A New Category Of Human Emptiness

~ H-W-FPTC-WOADOA-D ~ Hero-Worship – From Plato To Carlyle – Was Often A Dogma Of Anti-Democracy

~ TCIAPWIKFHW-K-THP-E-H[/H]RTMAERIHA-T-NM-‘H’-ARIWWPOOP ~ The Celebrity Is A Person Who Is Known For His Well-Knownness – The Human Pseudo-Event – His[/Her] Relation To Morality And Even Reality Is Highly Ambiguous – These – New-Model – “Heroes” – Are Receptacles Into Which We Pour Our Own Puposelessness

~ TH-WDB-A;TC-B-IOT ~ The – Hero – Was Distinguished By – Achievement; The Celebrity – By – Image Or Trademark

~ TVAWFMTC-ITLR-D-D-A-M-B-P ~ The Very Agency Which First Makes The Celebrity – In The Long Run – Destroys – Destroyed – As – Made – By – Publicity

~ C-BTAMTO-CBMT-P-C-F-A-FU-WDNLTCTWALIAM-WLFM-A-WSOOI ~ Celebrities – Because They Are Made To Order – Can Be Made To – Please – Comfort – Fascinate – And – Flatter Us – We Do Not Like To Confess That We Are Looking In A Mirror – We Look For Models – And – We See Our Own Image

~ INRI ~ Images Now Displace Ideals

~ AI-ISWHACO-AI-HACOU ~ An Image – Is Something We Have A Claim On – An Ideal – Has A Claim On Us

~ TAOTN-T-N-F-PSWANTNF ~ The Appeal Of The Neither-True-Nor-False – Persuasive Statements Which Are Neither True Nor False

~ TAOTS-FP-TAOMTTBSTAS ~ The Appeal Of The Self-Fulfilling Prophecy – The Art Of Making Things True By Saying They Are So

~ TAOTH-I-EUTHTOEEMBCT ~ The Appeal Of The Half-Intelligible – Encourages Us To Hope That Our Extravagant Expectations May Be Coming True

~ TAOTC-WAFTAWGTSTFU ~ The Appeal Of The Contrived – We Are Flattered That Anyone Would Go To Such Trouble For Us

~ N-T-B-C-ITMT ~ Not – Truth – But – Credibility – Is The Modern Test~ TI-TAOC-TAHBSCTTNSC ~ This Is – The Age Of Contrivance – The Artificial Has Become So Commonplace That The Natural Seems Contrived

~ TINDSLAWDNTTBCGWAGN-B-TGR-HOUTMOMAEAFO-MCG-WCBCSTGUTITWABN ~ There Is No Danger So Long As We Do Not Think That By Chewing Gum We Are Getting Nourishment – But – The Graphic Revolution – Has Offered Us The Means Of Making All Experience A Form Of – Mental Chewing Gum – Which Can Be Continually Sweetened To Give Us The Illusion That We Are Being Nourished

CHARLES SEIFE ~ VIRTUAL UNREALITY ~ 2014

~ VU ~ Virtual Unreality

~ DIID ~ Digital Information Is Different

~ WWLTTAOOII-BAB-WUAENCUTW-OWP-AD-WODU ~ When We Learned To Turn All Of Our Information Into – Bits And Bytes – We Unleashed An Entirely New Creature Upon The World – One Whose Powers – And Dangers – We Only Dimly Understand

~ TDRHDCNJHWGIATWBAHWCTWTITOAG ~ The Digital Revolution Has Dramatically Changed Not Just How We Gather Information About The World But Also How We Can Tamper With The Information That Others Are Gathering

~ WAOBTOABOTIOTOW-WHADSA-A-TOWIRHWMAMSB ~ We’re Altering Our Behavior Toward One Another Because Of The Influence Of The Online World – We Humans Are Deeply Social Animals – And – The Online World Is Reshaping How We Make And Maintain Social Bonds

~ BIIADTAAOU ~ Bad Information Is A Disease That Affects All Of Us

~ Y-KIIA-D-IE-INSTTWOTM-MLTTWOTM ~ Yet – Knowledge Is Inherently Anti-Democratic – It’s Elitist – It’s Not Subject To The Will Of The Majority – Much Less To The Whims Of The Mob

~ FANLTITU-A-IOTFTTMRTATATMI ~ Facts Are No Less True If They’re Unpopular – And – It’s Often The Facts That The Majority Refuse To Accept That Are The Most Important

~ WAF-K-TCT-ID-TPIHAPEOOPOTW ~ We Are Forcing – Knowledge – To Conform To – Internet Democracy – This Process Is Having A Profound Effect On Our Perception Of The World

~ P-T-HLTIMETCOIB-AWOAW-TB-TTAPOIOW ~ Politicians – Too – Have Learned That It’s Much Easier To Craft One’s Image By – Altering Words On A Webpage – Than By – Trying To Affect Public Opinion In Other Ways

~ TIHPITPO-M-O-A-WBTFUTPI-R ~ The Internet Has Put Immense Time Pressure On – Media – Outlets – And – What’s Beginning To Fail Under The Pressure Is – Reporting

~ PAPVTFWTLFRI ~ People Are Particularly Vulnerable To Fakes When They’re Looking For Romantic Involvement

~ TLOTI ~ The Loneliness Of The Interconnected

~ TMIWFFOUFI-OP-ANOTF-WAWTBWY-ITAO-FTB-YCFSFTBROD ~ The Most Important Weapon For Fighting Off Uncomfortable Facts Is – Other People – A Network Of The Faithful – Who Are Willing To Believe With You – In The Arms Of – Fellow True Believers – You Can Find Solace From The Brutal Reality Of Disconfirmation

~ TCTI-NETCIAUBAFMCAF-CAR-BABOFT ~ Then Came The Internet – Now Even The Craziest Ideas Are Usually But A Few Mouse Clicks Away From – Confirmation And Reinforcement – By A Band Of Fellow Travelers

~ WNADTITTOP-WDOOTI-WWUWIOOFI-RBAUBTM-TNICTBAWUTW;IIBAMTAUTGOUOOB ~ With News And Data That Is Tailored To Our Prejudices – We Deprive Ourselves Of True Information – We Wind Up Wallowing In Our Own False Ideas – Reflected Back At Us By The Media – The News Is Ceasing To Be A Window Unto The World; It Is Becoming A Mirror That Allows Us To Gaze Only Upon Our Own Beliefs

~ IGAPOA-‘P-S’-W-A-WAGIS-IHTGPTPAMFI ~ Informational Goods Are Part Of A – “Post-Scarcity” World – And – When A Good Isn’t Scarce – It’s Hard To Get People To Pay Any Money For It

~ ‘IWTBF’-I-TCCOTIG-B-INFTC-TLTR ~ “Information Wants To Be Free” – Is – The Clarion Call Of The Internet Generation – But – It’s Not Free To Create – Therein Lies The Rub

~ I-1980-IWHBABITMFLATEOAPSJWBE-N-FSJAE ~ In 1980 – It Would Have Been All But Impossible To Masquerade For Long As The Editor Of A Phoney Scientific Journal Without Being Exposed – Nowadays – Fake Scientific Journals Are Everywhere

~ HPP ~ Hollow Potemkin Publications

~ IAVSS-BIH-I-TTFANSINR-AH-B-AA-SR ~ It’s A Very Subtle Shift – But It’s Happening – Increasingly – The Target For A News Story Is Not Really – A Human – But – An Algorithm – Search Rankings

~ RAETW ~ Rankings Are Easily Tinkered With

~ AU ~ Artificial Unintelligence

~ J18WAB ~ Jennifer18 Was A Bimbot

~ AWT-SOITUIFTPIMF-STITTTHSWI ~ As With All Technology – Step One Is To Use It For The Purpose It’s Meant For – Step Two Is To Try To Have Sex With It

~ BS ~ Bacon Specialist

~ MMF ~ Make Money Fast

~ IWT-‘J’-S-W-FS-W-BI ~ Information Warfare Technique – “Jamming” – Swamping – With – False Signals – With – Bogus Information

~ DIGPTTP-B-IGEMTTWPUU ~ Digital Information Gives Power To The People – But – It Gives Even More To Those Who Prey Upon Us

~ IMWWETMT-ROP-WHTCOBIHOGMA-MI-MIR-TAOCUTS ~ In Many Ways We’re Easier To Manipulate Than – Rats Or Pigeons – We’re Happy To Change Our Behavior In Hopes Of Getting More Abstract – More Insubstantial – More Infrequent Rewards – Than Any Other Creature Under The Sun

~ PAMTIAVF ~ Performing A Mindless Task In A Virtual Fishbowl

~ SPCCPT-AATBJ-DTM-AE-MF ~ Social Pressure Can Cause People To – Act Against Their Better Judgement – Discard Their Morals – And Even – Misperceive Facts

~ GU-V-T-M-O-I-IRFLONAA ~ Giving Up – Valuable – Time – Money – Or – Information – In Return For Little Or Nothing At All

~ IIV-A-TGIUTITAAYOI ~ Information Is Valuable – And – To Give It Up Thoughtlessly Is To Act Against Your Own Interest

~ YMWDTYMHBSYOS-I-IAIW-TBACE-A-IITS-ATWCOATCOOOB-DTPTATTUUFTOP ~ You Might Well Discover That You Might Have Been Sacrificing Your Own Self-Interest – In Almost Imperceptible Ways – To Benefit A Commercial Enterprise – And – It Is Through Self-Awareness That We Can Once Again Take Control Of Our Own Brains – Despite The Parasites That Are Trying To Use Us For Their Own Purposes

~ IWWTBATTWRAWN-WMLTSTTHOVUTSAU ~ If We Want To Be Able To Tell What’s Real And What’s Not – We Must Learn To See Through The Haze Of Virtual Unreality That’s Settling Around Us

~ A-OIS-TTTOP-TMETCTROEBASOOTCU ~ As – Our Information Sources – Tailor Themselves To Our Prejudices – This Means Eschewing The Chatter That Reinforces Our Preexisting Beliefs And Seeking Out Ones That Challenge Us

CHARLES CALOMIRIS + STEPHEN HABER ~ FRAGILE BY DESIGN ~ 2014

~ TGOBB ~ The Game Of Bank Bargains

~ NBWS-A-NSWB ~ No Banks Without States – And – No States Without Banks

~ I-SAEB-A-SAGI-WATSR? ~ If – Stable And Efficient Banks – Are – Such A Good Idea – Why Are They So Rare?

~ TN-RDOBC ~ The Non-Random Distribution Of Banking Crises

~ TCBNBSWTPPOTS ~ There Can Be No Banking Systems Without The Police Power Of The State

~ TITBSCEOASOGRISALFT ~ The Idea That Banking Systems Can Exist Outside A System Of Government Regulation Is Simply A Libertarian Fairy Tale

~ TINE–TGOBB-PAIIBR ~ There Is No Escaping – The Game Of Bank Bargains – Politics Always Intrudes Into Bank Regulation

~ A-B-I-B-D-APUE-TIA-B-TNFOB-DOTSOPRTOGCP-BNPG ~ A – Bank – Is – By – Design – A Potentially Unstable Enterprise – This Instability Arises – Because – The Normal Functioning Of Banks – Depends On Three Sets Of Property Rights That Only Government Can Provide – Banks Need Powerful Governments

~ B-AAAP-A-AHB ~ Banking – Is All About Politics – And – Always Has Been

~ ABCSDT-ISHLLOOLP-O-TG-COT-IDSB-GP-T-BC-A-ETI-C ~ A Bank Cannot Simply Declare That – Its Shareholders Have Limited Liability Or Other Legal Protections – Only – The Government – Can Offer These – It Does So By – Granting Privileges – Through – Bank Charters – And – Enforcing Them In – Courts

~ TRT-TAOLHTBFBOIB-IS-TPWAATRTG-RTALS-DNHTOTAA ~ The Reason That – Taxpayers Are Often Left Holding The Bag For Bailing Out Insolvent Banks – Is That – The People Who Are Arranging The Rules That Govern – Risk Taking And Loss Sharing – Do Not Have To Obtain Taxpayers’ Active Agreement

~ TITE-CR-AETCAM ~ The Institutions That Enforce – Contract Rights – Are Expensive To Create And Maintain

~ TIA-SER-C-WROL(CGBA)-IL-A-SCG ~ There Is A – Strong Empirical Relationship – Connecting – Weak Rule Of Law (Countries Governed By Autocrats) – Insider Lending – And – Slow Credit Growth

~ T-AASO-RE-F-TBS-OWTI-DI-O-GBOB ~ Taxpayers – Are A Source Of – Rent Extraction – From – The Banking System – Only When There Is – Deposit Insurance – Or – Government Bailouts Of Banks

~ ENHSFOG-CB-CBAN-SEAOFATST-RTPS-1600-TTICBBHTATIOTTGCTTCOAVS:R-M-A-F ~ Every Nation-State Has Some Form Of Government-Chartered Bank – Chartered Banks And Nation-States Emerged As Organizational Forms At The Same Time – Roughly The Period Since – 1600 – The Two Institutions Coevolved Because Banks Helped To Align The Incentives Of The Three Groups Crucial To The Creation Of A Viable State: Rulers – Merchants – And – Financiers

~ MCBEASE:MISAE-CENTTFTAW-A-MAADNTTHSTPO ~ Modern Chartered Banks Evolved As States Evolved: Monarchs In Seventeenth- And Eighteenth-Century Europe Needed Them To Finance Trade And War – And – Modern Autocracies And Democracies Need Them To Help Sustain The Political Order

~ TCBWNIO:IWTOOALSO-IE-I-TIONKOC-SA-DAABOE-A-TCONFO-PO-SA-TJ-SC ~ The Chartered Bank Was Not Invented Overnight: It Was The Outcome Of A Long Series Of – Institutional Experiments – Including – The Invention Of New Kinds Of Contacts – Such As – Debt Annuities And Bills Of Exchange – And – The Creation Of New Forms Of – Property Ownership – Such As – The Joint-Stock Company

~ RWAIGFBTWDWAUCOL ~ Rulers Would Act In Good Faith Because They Were Dealing With A Untied Coalition Of Lenders

~ J-SCAACFTR: BEIC(1600)-DEIC(1602)-DWIC(1621)-HBC(1670)-MC(1684) ~ Joint-Stock Companies And A Charter From The Ruler: British East India Company (1600) – Dutch East India Company (1602) – Dutch West India Company (1621) – Hudson Bay Company (1670) – Mississippi Company (1684)

~ ORHUTIO-T-C-J-SC-AAWTFTCOAOE-TRTTCS-MC-FABROOAOS-TC-IE-CTBOSI-SF-EOWW-G-PVP ~ Once Rulers Hit Upon The Idea Of – The – Chartered – Joint-Stock Company – As A Way To Finance The Creation Of An Overseas Empire – They Realized That They Could Sell – Monopoly Charters – For A Broad Range Of Other Activities Of State – They Could – In Effect – Carve The Business Of State Into – Separate Franchises – Each Of Which Was – Given – Particular Valuable Privileges

~ TDOTCBWDBTEN:TFTOILD-A-TFWTWIBAL ~ The Development Of The Chartered Bank Was Driven By Two Essential Needs: To Finance Trade Over Increasingly Long Distances – And – To Finance Wars That Were Increasingly Bloody And Long

~ TCOTCBAAFIOTMSSGRTAFI:F(P)M ~ The Creation Of The Chartered Bank As A Fundamental Institution Of The Modern State Soon Gave Rise To Another Fundamental Innovation: Fiat (Paper) Money

~ CBCTPMGRIESATCOTIGSDTGD-GIVTATEIAMPIOT-PEAMSP-RTPPTMPCWMAFIVOTC ~ Central Banks Came To Play Much Greater Roles In Economic Stabilization After The Collapse Of The Intentional Gold Standard During The Great Depression – Governments Increasingly Valued The Ability To Engage In Activist Monetary Policy In Order To – Promote Employment And Maintain Social Peace – Rather Than Passively Pursue The Monetary Policy Consistent With Maintaining A Fixed International Value Of Their Currency

~ SMBABMS ~ States Made Banks And Banks Made States

~ T-IR-HISO-TRIPF-NBOI ~ The – Industrial Revolution – Happened In Spite Of – The Revolution In Public Finance – Not Because Of It

~ IIGBBE-T-ACBTEAMOTCOFC-A-ICWVISIPOMO-WFTOB-WIINAC-AAPEWTMOSR ~ It Is Generally Believed By Economists – That – A Central Bank That Enjoys A Monopoly Over The Creation Of Fiat Currency – And – Is Charged With Varying Its Supply In Pursuit Of Macroeconomic Objectives – Will Fulfill Those Obligations Better – When It Is Not Also Charge – As A Private Entity With The Maximization Of Shareholder Returns

~ BCDJH-BSASTCWTCAMIC:B-TOSRITLAOI-A-HICOTBSTATLAWTRLAI ~ Banking Crises Don’t Just Happen – Banking Systems Are Susceptible To Collapse When Two Conditions Are Met In Combination: Banks – Take On Sufficient Risk In Their Loans And Other Investments – And – Have Inadequate Capital On Their Balance Sheets To Absorb The Losses Associated With Those Risky Loans And Investments

~ TPOAPC-IPTPT-GAPOTGAWST-[S]H-K-INITL-RPI-B-III-[H]H-OS-TI ~ The Power Of A Political Coalition – Is Precisely The Power To – Get A Public Official To Go Along With Something That – [S/]He – Knows – Is Not In The Long-Run Public Interest – Because – It Is In – His[/Her] – Own Short-Term Interest

~ B-PBIAETIIUBITTP:IDUITTOPACBTMFOOPRTFOHOPIESCC ~ Blame – Placing Blame Is An Enterprise That Is Inherently Unproductive Because It Trivializes The Problem: It Distracts Us Into Thinking That Our Problems Are Caused By The Moral Flaws Of Other People Rather Than Focusing On How Our Political Institutions Encourage Socially Costly Coalitions

~ TROTM-T-B-T-F-P-BAIS-TS-EBLB

~ The Rise Of The Megabanks – Too-Big-Too-Fail – Protection – Became An Increasingly Significant – Taxpayer Subsidy – Enjoyed By Large Banks

~ WATHFODE ~ Warnings Appear To Have Fallen On Deaf Ears

~ T-TOMDTB-TSC-RFAF-TWOLTMMRMTTHMB ~ The – Tsunami Of Mortgage Defaults That Became – The Subprime Crisis – Reflected First And Foremost – The Willingness Of Lenders To Make Much Riskier Mortgages Than They Had Made Before

~ RF-TPWNALOR-JPAPOIR ~ Regulatory Failure – The Problem Was Not A Lack Of Regulation – Just Piles And Piles Of Ineffectual Regulation

~ WGTTMTRNCWYACTTGIGTBYO? ~ Why Go To The Markets To Raise New Capital When You Are Confident That The Government Is Going To Bail You Out?

~ RAAOTPEIWTO ~ Regulators Are Aware Of The Political Environment In Which They Operate

~ BFAC:TCTTMMTO-FW-BSOH-QLAOFOATMTLORTWTTAACC-O-TCTWRBEAWREAAGGSN ~ Bankers Faced A Choice: They Could Try To Make Money The Old-Fashioned Way – By Seeking Out High-Quality Lending And Other Financial Opportunities And Then Matching The Level Of Risk They Were Taking To An Appropriate Capital Cushion – Or – They Could Take Wild Risks By Exploiting A Weak Regulatory Environment And A Generous Government Safety Net

~ T-T-B-T-F-P-P:I-IHNBC ~ The – Too-Big-To-Fail – Problem – Persists: Indeed – It Has Now Be Codified

~ RIAPOMH ~ Reality Is A Plague On Many Houses

WILLIAM WHYTE ~ HOW TO CHEAT ON PERSONALITY TESTS ~ THE ORGANIZATION MAN ~ 1956

~ AIASO-S-IISVTAE-TT-E-A-LT-OR-TOPL ~ As In All Aspects Of – Scientism – It Is Society’s Values That Are Enshrined – The Tests – Essentially – Are – Loyalty Tests – Or Rather – Tests Of Potential Loyalty

~ NITQNITEOT-AT-T-N;TALW-V-OV-A-TRI-ASOY-TR-TC-TP-A-TU-ATEOTEI-W-WN-S-O-O-O-CF ~ Neither In The Questions Nor In The Evaluation Of Them – Are The – Tests – Neutral; They Are Loaded With – Values– Organization Values – And – The Result Is – A Set Of Yardsticks – That Reward – The Conformist – The Pedestrian – And – The Unimaginative – At The Expense Of The Exceptional Individual – Without – Who – No – Society – Organization – Or – Otherwise – Can Flourish

~ TITTRIT-YDWAGS-YAABO ~ The Important Thing To Recognize Is That – You Don’t Win A Good Score – You Avoid A Bad One

~ YSUYRUTITOR0TI-HYATQIRTHOPHAT-YS-LIGASBT-40-A-60-P-WITS-YSTTAAIYWLEEISTB ~ Your Score Is Usually Rendered In Terms Of Your Percentile Rating – That Is – How You Answer The Question In Relation To How Other People Have Answers Them – Your Safety – Lies In Getting A Score Between The – 40th – And – 60th – Percentiles – Which Is To Say – You Should Try To Answer As If You Were Like Everybody Else Is Supposed To Be

BRINK LINDSEY + STEVEN TELES ~ THE CAPTURED ECONOMY ~ 2017

~ WPFEI-TGMD-LOAG-A-MSO-‘TO’-WL-SLAZ-SS-GBOG-AIA-LBOOG ~ When People Feel Economically Insecure – They Grow More Defensive – Less Open And Generous – And – More Suspicious Of – “The Other” – When Life – Seems Like A Zero-Sum Struggle – Gains By Other Groups – Are Interpreted As – Losses By One’s Own Group

~ IAU-TSOOSGASI ~ Inefficient And Unequal – The Simultaneous Occurrence Of Sluggish Growth And Spiralling Inequality

~ I-RACW-TEG-H-BRIFO-PATT ~ In – Real And Consequential Ways – The Economic Game – Has – Been Rigged In Favor Of – People At The Top

~ W-IATWTRCBTPAWO-ED-C-API-G-IA-VC ~ When – Institutions Are Too Weak To Resist Capture By The Powerful And Well Organized – Economic Decline – Corruption – And – Political Instability – Grow – In A – Vicious Circle

~ CAGAIIAC-ETVIAC-DAET-MGME-A-YSNBSIYEUW-WIG ~ Casting All Government As Inherently Incompetent And Corrupt – Enables The Very Incompetence And Corruption – Disdain Any Efforts To – Make Government More Efficient – And – You Should Not Be Surprised If You End Up With – Woefully Inefficient Government

~ A-TROR-SISGAAI-HBHIPVFSTN-TABTC-ASBGLO-IT-OB-T-L-A-R-HPTBBSAI-RC-AA-SCTOCEP ~ Although – The Role Of Rent-Seeking In Slowing Growth And Accelerating Inequality – Has Been Hidden In Plain View For Some Time Now – Things Are Beginning To Change – A Small But Growing List Of – Influential Thinkers – On Both – The – Left – And – Right – Have Pierced The Bipartisan Blind Spot And Identified – Regulatory Capture – As A – Significant Contributor To Our Current Economic Predicament

~ TRATDH ~ The Rents Are Too Damn High

~ R-S:ATSTIPWCAOV-TDTMP ~ Rent-Seeking: Activity That Seeks To Increase Profits Without Creating Anything Of Value – Through Distortions To Market Processes

~ TTETR-SHS-TIHOCDITGHOCC-A-TLPOTPIDIAFFOSI ~ To The Extent That Rent-Seeking Holds Sway – The Invisible Hand Of Capitalism Degenerates Into The Grasping Hand Of Crony Capitalism – And – The Lofty Pursuit Of The Public Interest Devolves Into A Feeding Frenzy Of Special Interests

~ FM-D-PFS-OTEO-ASSETETROTG-IA-I-P-SF-EP-M-S-BKFBTITPPTGTR ~ Free Markets – Depend – Paradoxically For Some – On The Existence Of – A State Strong Enough To Enforce The Rules Of The Game – In An – Impartial – Public-Spirited Fashion – Economic Power – Must – Somehow – Be Kept From Being Translated Into The Political Power To Game Those Rules

~ TUSOEGII:NPAPM ~ The Ultimate Source Of Economic Growth Is Innovation: New Products And Production Methods

~ EE-IIETGRB-WFTTPP-TEWBDT-N-SRS-A-ARI-R-CP-CLTA-D-OIPE ~ Entrepreneurial Energy – If It’s Easier To Get Rich By – Winning Favors Through The Policymaking Process – That Energy Will Be Diverted To – Negative-Sum Rent Seeking – Accordingly – A Rise In – Rent-Creating Policies – Can Lead To A – Drop-Off In Productive Entrepreneurship

~ RR:R-CPTUGWEI ~ Regressive Regulation: Rent-Creating Polices That Undermine Growth While Exacerbating Inequality

~ AMDHOTPOMVEEPAWAFK-MOWCTLILSBOUOWOTRTT-M-ATTVSOSRIBUBC ~ Although Mass Digitization Holds Out The Possibility Of Making Virtually Everything Ever Published Accessible With A Few Keystrokes – Millions Of Works Continue To Languish In Limbo Simply Because Of Uncertainty Over Who Owns The Rights To Them – Meanwhile – Access To The Vast Storehouses Of Scientific Research Is Bottled Up By Copyright

~ ‘IP’-‘IM’-AMSOES-A-ATFUE ~ “Intellectual Property” – “Intellectual Monopoly” – A Major Source Of Economic Stagnation – And – A Tool For Unjust Enrichment

~ AL-SPPTSOFRAFTTTRWTOWWN-YTIWWG ~ A Large-Scale Political Project To Siphon Off Further Resources And Funnel Them To The Rich Was The Opposite Of What Was Needed – Yet That Is What We Got

~ S-R-S-MBIIAMDWS-IIT-B-TCHLOR-SIN ~ Some – Rent-Seeking – May Be Inevitable In A Modern Democratic Welfare State – It Is True – But – The Current High Level Of Rent-Seeking Is Not

~ WTGDATUUIOE-IFTSPTIWSEA-POOMMI-TPS-TTAOA-G-P-TWABAC-T-IAW-QSTGSAETTAINCBPOABP-SPDTR ~ When The Government Does Attempt To Build Up Its Own Expertise – It Faces The Serious Problem That Individuals With Such Expertise Are – Paid Orders Of Magnitude More In – The Private Sector – Than They Are On A – Government – Payroll – There Will Always Be A Challenge – Therefore – In Attracting Well-Qualified Specialists To Government Service And Ensuring That Their Analysis Is Not Colored By Prospects Of A Big Private-Sector Payday Down The Road

~ TBS-R-S-NTDACJOWTCITMOTPI ~ To Be Successful – Rent-Seekers – Need To Do A Convincing Job Of Wrapping Their Claims In The Mantle Of The Public Interest

~ P-IUUA-AFOR-BIR-C-TANBBTRFT ~ Pollution – Is Usefully Understood As – A Form Of Rent – Because It Represents – Costs – That Are Not Borne By Those Responsible For Them

YUVAL NOAH HARARI ~ 21 LESSONS FOR THE 21ST CENTURY ~ 2018

~ H-TI-S-RT-I-F-N-O-E-A-TSTS-TB ~ Humans – Think – In – Stories – Rather Than – In – Facts – Numbers – Or – Equations – And – The Simpler The Story – The Better

~ H-WAFBA-IT-T-UTW ~ Humans – Were Always Far Better At – Inventing Tools – Than – Using Them Wisely

~ T-TR-MS-PBOHOOTJM-A-CAMN-‘UC’-LTSAPU ~ The – Technological Revolution – Might Soon – Push Billions Of Humans Out Of The Job Market – And – Create A Massive New – “Useless Class” – Leading To – Social And Political Upheavals

~ IIGAT-MLAR-WCAELOW-IIFFCT-TFEWNU-EAC ~ It Is Generally Agreed That – Machine Learning And Robotics – Will Change Almost Every Line Of Work – It Is Far From Certain That – The Future Economy Will Need Us – Even As Consumers

~ IIDWIIBT-PPW-UBI-TCP-O-UBS-TCP-BOHAAD-B-NMWPYC-TRPIIDW-‘U’-A-‘B’-AM ~ It Is Debatable Whether It Is Better To – Provided People With – Universal Basic Income – The Capitalist Paradise – Or – Universal Basic Services – The Communist Paradise – Both Options Have Advantages And Drawbacks – But – No Matter Which Paradise You Choose – The Real Problem Is In Defining What – “Universal” – And – “Basic” – Actually Mean

~ TQF-MAC-ME-TQFAJ ~ The Quest For – Meaning And Community – Might Eclipse – The Quest For A – Job

~ TBS-C-BPIEI ~ The Biometric Sensor – Converts – Biological Processes Into Electronic Information

~ PGM ~ Precision-Guided Manipulation

~ DD ~ Digital Dictators

~ TRPWR-INTOAI-B-RTNSACOTHM ~ The Real Problem With Robots – Is Not Their Own Artificial Intelligence – But – Rather – The Natural Stupidity And Cruelty Of Their Human Masters

~ VRATW ~ Veteran Robots Against The War

~ D-IIPF-CS-TMOBAI-EDWSRIIARNF-O-HWCTLI-‘DD’ ~ Democracy – In Its Present Form – Cannot Survive – The Merger Of Biotech And Infotech – Either Democracy Will Successfully Reinvent Itself In A Radically New Form – Or – Humans Will Come To Live In – “Digital Dictatorships”

~ HF-WGUTITTAAOAATUAISIHH ~ Human Figureheads – Will Give Us The Illusion That The Algorithms Are Only Advisers And That Ultimate Authority Is Still In Human Hands

~ AI&NS ~ Artificial Intelligence And Natural Stupidity

~ TINRTATAIWGC-B-IAC-AVDT-I-ITATSP-C-ITATF ~ There Is No Reason To Assume That Artificial Intelligence Will Gain Consciousness – Because – Intelligence And Consciousness – Are Very Different Things – Intelligence – Is The Ability To Solve Problems – Consciousness – Is The Ability To Feel

~ FTLFD-PAOTW-WTTHIOTPT-E-AT-G-A-NT-WHUGTS-IR-TT-FC-MC-TMUSIH ~ For The Last Few Decades – People All Over The World – Were Told That Humankind Is On The Path To – Equality – And That – Globalization – And – New Technologies – Will Help Us Get There Sooner – In Reality – The Twenty-First Century – Might Create – The Most Unequal Societies In History

~ B-2100-TR-1%-MONMMOTWW-BA-MOTW-B-C-H ~ By – 2100 – The Richest – 1 Percent – Might Own Not Merely Most Of The World’s Wealth – But Also – Most Of The World’s – Beauty – Creativity – Health

~ IWWTPTCOAWAPITHOASE-TKIT-RTOOD ~ If We Want To Prevent The Concentration Of All Wealth And Power In The Hands Of A Small Elite – The Key Is To – Regulate The Ownership Of Data

~ OACABTFU-TTAIWGB ~ Once Algorithms Choose And Buy Things For Us – The Traditional Advertising Industry Will Go Bust

~ APA-MLABM-A-MELMITST-B-ALAISD-ICBWB ~ A Popular App – May Lack A Business Model – And – May Even Lose Money In The Short Term – But – As Long As It Sucks Data – It Could Be Worth Billions

~ WOTD?-TMWBTMIPQOOE ~ Who Owns The Data? – This May Well Be The Most Important Political Question Of Our Era

~ HHB-IYTTPLMOATYPTWATNTOTOE-YCVYAA-BSS-EAYAPTTOG-B-OYRTHBHB-A-TTSN-R-H-A-SS-IBFMDTJTE-HCYETVOCWRTFSTMICS? ~ Human Have Bodies – If You Think That People Live Mainly Online And That You Provide Them With All The Necessary Tools Of Their Online Existence – You Can View Yourself As A – Beneficial Social Service – Even As You Avoid Paying Taxes To Offline Governments – But – Once You Remember That Human Beings Have Bodies – And – That They Still Need – Roads – Hospitals – And – Sewage Systems – It Becomes Far More Difficult To Justify Tax Evasion – How Can You Extol The Virtues Of Community While Refusing To Financially Support The Most Important Community Services?

~ WMCTMTGODWOWSFO ~ We May Come To Miss The Good Old Days When Online Was Separated From Offline

~ WITOVAAPLF-AA-Y-TOTTAUTSTITOAALDACSFT ~ We Insist That Our Values Are A Precious Legacy From – Ancient Ancestors – Yet – The Only Thing That Allows Us To Say This Is That Our Ancestors Are Long Dead And Cannot Speak For Themselves

~ W-S-I-T-A-P-FMQTCD-W-AMPFMIIOA ~ War – Spreads – Ideas – Technologies – And – People – Far More Quickly Than Commerce Does – War – Also Makes People Far More Interested In One Another

~ ACEITBCFFACI-A-HNHALTSE-NW-CC-A-TD ~ A Common Enemy Is The Best Catalyst For Forging A Common Identity – And – Humankind Now Has At Least Three Such Enemies – Nuclear War – Climate Change – And – Technological Disruption

~ S-TGFCO-2008-TISIRD-WIBIV-A-MEAB ~ Since – The Global Financial Crisis Of – 2008 – The International Situation Is Rapidly Deteriorating – Warmongering Is Back In Vogue – And – Military Expenditures Are Ballooning

~ HS-I-OOTMIFIH-Y-WOTTDI ~ Human Stupidity – Is – One Of The Most Important Forces In History – Yet – We Often Tend To Discount It

~ OPRF-HS-IADO-H ~ One Potential Remedy For – Human Stupidity – Is A Dose Of – Humility

~ DT-TNOG-IV-PTDM-WSNU-TNOG-TJ-OPI-OEA-O-OPH ~ Don’t Take – The Name Of God – In Vain – Perhaps The Deeper Meaning – We Should Never Use – The Name Of God – To Justify – Our Political Interests – Our Economic Ambitions – Or – Our Personal Hatreds

~ TVSR-T-IHABISP-ILACIO ~ The Very Same Religions – That – Inspire Hate And Bigotry In Some People – Inspire Love And Compassion In Others

~ IOT-AM-YDNTBIAMOS-YJNT-D-ADAOS ~ In Order To – Act Morally – You Don’t Need To Believe In Any Myth Or Story – You Just Need To – Develop – A Deep Appreciation Of Suffering

~ QYCA-AUFBFY-T-AYCQ ~ Questions You Cannot Answer – Are Usually Far Better For You – Than – Answers You Cannot Question

~ TOP-R-E-IITSHIATOA-TIITT-HHANRTLOL-BITS-CTPO-AR-PMFH-A-SBFTWCOPAV ~ The Only Place – Rights – Exist – Is In The Stories Humans Invent And Tell One Another – Though It Isn’t True That – Humans Have A Natural Right To Life Or Liberty – Belief In This Story – Curbed The Power Of – Authoritarian Regimes – Protected Minorities From Harm – And – Safeguarded Billions From The Worst Consequences Of Poverty And Violence

~ PRATI-B-TLTI-A-EC-O-L-MF-A-S-CNF-WTBACRASC ~ People Rarely Appreciate Their Ignorance – Because – They Lock Themselves Inside – An – Echo Chamber – Of – Like-Minded Friends – And – Self-Confirming News Feeds – Where Their Beliefs Are Constantly Reinforced And Seldom Challenged

~ MOO-V-ASB-CG-RT-IR-A-WHOTTV-DT-GL ~ Most Of Our – Views – Are Shaped By – Communal Groupthink – Rather Than – Individual Rationality – And – We Hold On To These Views – Due To – Group Loyalty

~ T-GCIMH-RNJF-HAG-BEMS-F-IAI ~ The – Greatest Crimes In Modern History – Resulted Not Just From – Hatred And Greed – But Even More So – From – Ignorance And Indifference

~ IYWT-GGL-RPT-BAA-IAFBTTATT-BTT ~ If You Want To – Gauge Group Loyalty – Requiring People To – Believe An Absurdity – Is A Far Better Test Than Asking Them To – Believe The Truth

~ OOTGFOAI-TDTCOTW-A-TIAT ~ One Of The Greatest Fictions Of All Is – To Deny The Complexity Of The World – And – Think In Absolute Terms

~ F-IYWRI-PGMFI ~ First – If You Want Reliable Information – Pay Good Money For It

~ S-SSTT-TFC:CT/C/C/C ~ Schools – Should Switch To Teaching – The Four C’s: Critical Thinking / Communication / Collaboration / Creativity

~ T-BQFH-I-‘WITMOL?’-B-R-“HDWSS?’-TRTITWIS ~ The – Big Question Facing Humans – Isn’t – “What Is The Meaning Of Life?” – But – Rather – “How Do We Stop Suffering?” – The Realest Thing In The World Is Suffering