TIM WU ~ THE ATTENTION MERCHANTS ~ 2016

~ TWOATW-WBCOTL-MPOL-H/S/SI-AT-WS-SFAAC-WHCTAAVDWOB-WNEBOOLICETTEICB ~ There Was Once A Time When – Whether By Convention Or Technological Limitation – Many Parts Of Life – Home / School / Social Interaction – Among Them – Were Sanctuaries – Sheltered From Advertising And Commerce – We Have Come To Accept A Very Different Way Of Being – Whereby Nearly Every Bit Of Our Lives Is Commercially Exploited To The Extent It Can Be

~ WAAR-WQFRI-O-LLTALOOTWI ~ We Are At Risk – Without Quite Fully Realizing It – Of – Living Lives That Are Less Our Own Than We Imagine

~ ITHOACTUAIIT-TLAOT-A-WR-R-S-I ~ If The History Of Attention Capture Teaches Us Anything It Is That – The Limits Are Often Theoretical – And – When Real – Rarely – Self-Imposed

~ ARA-O-ATSOH-I-O-CTD ~ As Remarkable As – Our – Ability To See Or Hear – Is – Our – Capacity To Disregard

~ BTDAUIBTNC-MPPHNNTITG ~ Before The Democratic Age Ushered In By The Nineteenth Century – Most Political Powers Had No Need To Influence The Governed

~ TTSUTS-PM-ASRUT-EI-TSDODABSIPI ~ The Techniques Successfully Used To Sell – Patent Medicine – Are Still Routinely Used Today – Exotic Ingredients – The Supposed Degree Of Difference Afforded By Some Ingenious Proprietary Innovation

~ FAOSRATA-PF-STTCOMT-REITHP-AOTATAI ~ For All Our Secular Rationalism And Technological Advances – Potential For – Surrender To The Charms Of Magical Thinking – Remains Embedded In The Human Psyche – Awaiting Only The Advertiser To Awaken It

~ TCOAPDOAR ~ The Complicity Of A Press Dependent On Advertising Revenue

~ SA: CTDFPTOMNE-‘DE’+TRNDO-‘B’-CL-BCTI-VON-TSTSIAFOLI=TFDO-‘T’-A-ATTYMBIS-ANCKA-TFC ~ Scientific Advertising: Creating The Desire For Products That Otherwise Might Not Exist – “demand Engineering” + The Relatively New Discipline Of – “Branding” – Creating Loyalty – By Creating The Impression – Valid Or Not – That Something Truly Set It Apart From Others Like It + The First Deployment Of – “Targeted” – Advertisements – Addressed To The Yet Mysterious But Increasingly Sought-After New Creature Known As – The Female Consumer

~ DWEBSNSMTTPWSTPBTTPEAA ~ Demand Was Engineered By Showing Not So Much That The Product Would Solve The Problem But That The Problem Existed At All

~ TMOPFFP ~ The Manipulation Of Public Fears For Profit

~ GFBTQOUOEQAAMOBD-ABTIPWTAATCCIW ~ Going Far Beyond The Question Of Usefulness Or Even Quality As A Matter Of Brand Development – Advertisers Began To Imbue Products With Traits And Associations That Consumers Could Identify With

~ CE ~ Celebrity Endorsements

~ TIV-‘S’-T-TAIHBAIEEFCAIR-IDSBBINFPO-GC-PW-ACRITSA-PSPHADS-BN-NSOACWDSITSOC-AIMIAUFTSC ~ Through Its Variously – “Scientific” – Techniques – The Advertising Industry Had Become An Increasingly Efficient Engine For Converting Attention Into Revenue – It Did So By Beginning Its Now Familiar Practice Of – Giving Consumers – Particularly Women – A Constantly Receding Ideal To Strive After – Perhaps Social Practice Had Always Done So – But Now – New Strategies Of Attention Capture Were Doing So In The Service Of Commerce – An Infinitely More Insatiable And Unyielding Force Than Social Convention

~ TMEBA-DNTTCYTMAC-B-RTCYTTINC-TBA-ITAENSMTPATC-AIMS-ICA-PC-WLCBIB-MI ~ The Most Effective Brand Advertising – Does Not Try To Convince You To Make A Choice – But – Rather To Convince You That There Is No Choice – True Brand Advertising – Is Therefore An Effort Not So Much To Persuade As To Convert – At Its Most Successful – It Creates A – Product Cult – Whose Loyalists Cannot Be Influenced By – Mere Information

~ BMONT-AAIM-C-WEWHBFMOAMS-TH ~ By Means Of New Technologies – Advertising And Its Master – Commerce – Would Enter What Had Been For Millennia Our Attention’s Main Sanctuary – The Home

~ R-‘S’-I-15MS-TAOTS-TPO-AEO-TBIGAWTHAEAUMBTBOEPATOA-BTP-RWHITAAEDNM ~ Radio – “Serial” – In – 15 Minute Instalments – The Ancestor Of The Sitcoms – The Power Of – An Entertainment Offering – To Bring In Giant Audiences Willing To Hear Advertising Effected An Unlikely Merger Between The Business Of Entertainment Producers And That Of Advertisers – Before This Point – Received Wisdom Had It That Advertising And Entertainment Did Not Mix

~ HPTFITEH-BWPTCOPOTDLWAAYU-R-STWFSWDSO-TWAHWLTD-TTATMCTHBS ~ Having Planted The Flag In The Evening Hours – Broadcasters Would Proceed To Colonize Other Parts Of The Day Laden With Attention As Yet Un-Reaped – Soon They Would Find Success With Daytime Soap Operas – Targeting Women At Home With Little To Do – Thanks To All The Modern Conveniences They Had Been Sold

~ TIO-PT-IAWAI-EF-TSD-BWWPAT-TNFOAEPLTTSSATSTEDCNHBC-ANDOSA-ESI-PT-W(ATALDR)AMROCA-AFDPT ~ The Invention Of – Prime Time – Insofar As We Are Influenced – Even Formed – To Some Degree – By Whatever We Pay Attention To – The Novel Fact Of An Entire Population Listening To The Same Show At The Same Time Every Day Could Not Help But Create – A New Degree Of Shared Awareness – Even Shared Identity – Prime Time – Was (And To A Lesser Degree Remains) A Massive Ritual Of Collective Attention – A Force Drawing People Together

~ BR-W-IIED-TOAAMOS-A-SABR-TOTBFOCI-IWTBFT-E-E-A-E-OT-P

~ Broadcast Radio – Was – In Its Early Days – Thought Of As A Miracle Of Science – A – Sacred And Blessed Realm – That Ought Be Free Of Commercial Intrusion – It Was To Be For The – Education – Entertainment – And – Enlightenment – Of The – Public

~ QMOAC-ATBTPAMAVOTA ~ Quantitative Measure Of Attention Capture – Allowed The Broadcaster To Put A More Accurate Value On The Airtime

~ C-MBTCOIF-B-ATHOHS-TUTSTSLATTTSCBJAU-INMS-TPAAHAUT ~ Choice – May Be The Cornerstone Of Individual Freedom – But – As The History Of Humanity Shows – The Urge To Surrender To Something Larger And To Transcend The Self Can Be Just As Urgent – If Not More So – The Greatest Propagandists And Advertisers Have Always Understood This

~ ATIPOTMSWBITH-SCASTIMBAFFGON-JWUWTAGBTBPT? ~ As The Immersive Power Of The Movie Screen Was Brought Into The Home – Some Could Already See That It Might Be A Force For Greatness Or Nothingness – Just What Uses Would The Attention Gathered By Television Be Put To?

~ TTTEOT-PIM-BWFTAWST ~ Thanks To The Erosion Of The – Public Interest Model – Broadcasters Were Free To Air What Suited Them

~ AI-OC-HASO-N ~ All Individualism – Of Course – Harbor A Strain Of – Narcissism

~ TAEI ~ Technology Always Embodies Ideology

~ TDTIOCOOAWSHTVOE ~ Technologies Designed To Increase Our Control Over Our Attention Will Sometimes Have The Very Opposite Effect

~ TTS ~ The Third Screen

~ TMEWOMABINWACPR-B-RWWIT-‘VR’-TI-RTVITFOM-BCRIIFMPT-‘E’-TBIR ~ The Most Effective Way Of Maintaining A Behaviour Is Not With A Consistent Predictable Reward – But – Rather With What Is Termed – “Variable Reinforcement” – That Is – Rewards That Very In Their Frequency Or Magnitude – Behavior Consistently Rewarded Is In Fact More Prone To – “Extinction” – Than Behaviour Inconsistently Rewarded

~ E-A-OOHGFOMSC-TAPO-C-I-TRCHA ~ Email – Arguably – One Of History’s Greatest Feats Of Mass Skinneresque Conditioning – The Almighty Power Of – Check-In – To Regularly Collect Human Attention

~ TPOTAMIR-FICCFCIQAE ~ The Path Of The Attention Merchants Is Risky – For It Can Call For Compromises In Quality And Ethics

~ T-C-I-C ~ The – Celebrity-Industrial – Complex

~ C-A-P-E ~ Celebrity-Attention-Product-Endorsers

~ PV ~ Pathology Voyeurism

~ HCE ~ Here Comes Everyone

~ AVAP ~ A Virtual Attention Plantation

~ TIOBM ~ The Importance Of Being Microfamous

~ TD-L ~ The D-List

~ TFSATMON ~ The Fourth Screen And The Mirror Of Narcissus

~ TAMMD-FNO-WTG-YSG-T-A-OC-TA ~ The Attention Merchant’s Manifest Destiny – From Now On – Whither Thou Goest – Your Smartphone Goes – Too – And – Of Course – The Ads

~ OTCC-TMVHR-INO-CAP-ILTB-OOCAMS ~ Over The Coming Century – The Most Vital Human Resource – In Need Of – Conservation And Protection – Is Likely To Be – Our Own Consciousnesses And Mental Space

SIVA VAIDHYANATHAN ~ ANTISOCIAL MEDIA ~ 2018

~ TA-TD-TTO-TIG-TP-A-TIT-SARTTT:TSIABTP-ITCGTROUSTFOB-THATG ~ The Autocrat – The De-Territorialzied Terrorist Organization – The Insurgent Group – The Prankster – And – The Internet Troll – Share A Relationship To The Truth: They See It As Beside The Point – If They Can Get The Rest Of Us Scrambling To Find Our Balance – They Have Achieved Their Goals

~ ‘ML’-ATWCEAOWTTM ~ “Media Literacy” – Assume That We Could Even Agree On What That Term Means

~ U-TOUWWFA-HPC-WHT-SOI-SA-L-S-U-A-CSO-TMOREWKAC ~ Ultimately – Those Of Us Who Wish For A – Healthier Public Culture – Will Have To – Strengthen Other Institutions – Such As – Libraries – Schools – Universities – And – Civil Society Organizations – That Might Offer Richer Engagement With Knowledge And Community

~ WMSOCT-WMSAT ~ We Must Sharpen Our Critical Tools – We Must Stop And Think

~ I-COA-METTTTPUTBHAMETTTCUAOU-MOWWE-IMOORAI-LUTB-S-F-A-A-E-YWKCB-A-WCSTQ ~ It – Captures Our Attention – Maximize Exposure To The Things That Push Us To Be Happier And Minimize Exposure To Things That Cause Us Anxiety Or Unhappiness – Much Of What We Encounter – Including Many Of Our Responses And Interactions – Leads Us To Be – Sad – Frustrated – Angry – And – Exhausted – Yet We Keep Coming Back – And – We Can’t Seem To Quit

~ DTB-H-F-LA-SB-ICUBIR-T-I-C-L-L-F

~ Designed To Be – Habit-Forming – Like A – Skinner Box – It Conditions Us By Intermittent Reinforcement – Through – Instant – Constant – Low-Level – Feedback

~ WHSAPOCATWAWVAADGM-ATVMT-OADMHCTO-OH-OM-OW-OFO-A-OM ~ We Have Seen A Proliferation Of Casinos Across The World Along With Video And Algorithmically Driven Gambling Machines – At The Very Movement That – Other Algorithmically Driven Machines Have Come To Occupy – Our Hands – Our Minds – Our Time – Our Work – Our Family Obligations – And – Our Money

~ WFCIDO-TM-WPTBWWWPAS ~ We Find Comfort In Declaring Our – Tribal Membership – We Perform Tribal Membership With What We Post And Share

~ AFFT ~ A Forum For Tribalism

~ APM-BA-AAM-AAM-A-A-RM ~ A Pleasure Machine – But Also – An Anxiety Machine – An Anger Machine – And – A – Resentment Machine

~ SS-PO-IPS-TCBS ~ Surveillance System – Part Of – Its Pleasure System – They Cannot Be Severed

~ TMPSSITHOTW ~ The Most Pervasive Surveillance System In The History Of The World

~ CSOIUOBOIAC ~ Commercial Surveillance Of Its Users On Behalf Of Its Advertising Clients

~ S-AL-M-A-A-TSDAJ-T-GCOHAPEAC-SCU-BPT-I-GDTROCTG ~ States – Authoritarian Leaders – Monitor – Activity – And – Track Suspected Dissidents And Journalists – They – Generate Campaigns Of Harassment Against Perceived Enemies And Critics – States Can Use – Bogus Profiles To – Infiltrate – Groups Devoted To Reforming Or Challenging The Government

~ DCISCAETIUTJAPWATDMGI-FAS-CFAAQL ~ Data Collection Is So Cheap And Easy That It’s Unnecessary To Judge A Priori What Among The Data Might Be Important – Firms And States – Collect First And Ask Questions Later

~ TC:AIIEOMCASS ~ The Cryptopticon: An Inscrutable Information Ecosystem Of Massive Corporate And State Surveillance

~ TWOTCA-C-H-S-AM-OCNBSWIWWAFWP ~ The Workings Of The Cryptopticon Are – Cryptic – Hidden – Scrambled – And – Mysterious – One Can Never Be Sure Who Is Watching Whom And For What Purpose

~ TLBSACSHMA-ASSSRRSDSOPMAHJBAFOBLTDOTOM ~ The Line Between State And Commercial Surveillance Hardly Matters Anymore – A State Security Services Regularly Receive Significant Data Sets On People’s Movement And Habits Just By Asking For Or By Licensing The Data On The Open Market

~ WSPETAO(P)N-T-ACMS-TWFTWOICDAPPATNFCNTUTCG ~ We So Precipitously Entered The Age Of (Potentially) Near-Total And Continuous Mutual Surveillance – That We Failed To Weigh Our Individual Consumer Desires And Personnel Predilections Against The Need For Certain Norms To Uphold The Common Good

~ OPADUDNMITAE-TAIAD ~ Our Privacy And Dignity Ultimately Do Not Matter In The Attention Economy – They Are Inconvenient And Disposable

~ TAE ~ The Attention Economy

~ TVONBFRHACOAFTBT ~ The Virtues Of Not Being Famous Rarely Have A Champion Or A Fairy Tale Behind Them

~ TMWS-GOS-PADOTA-TMWGATTH ~ The More Time We Spend – Grooming Our Self-Presentation And Declaring Our Tribal Affiliations – The More We Grow Acculturated To This Habit

~ WMHR-‘PA’ ~ We May Have Reached – “Peak Advertising”

~ PDIP ~ Personal Data Into Propaganda

~ TGS ~ The Great Scramble

~ ‘R’-HNRT-TH-TE-TM-TE-O-TT ~ “Relevance” – Has No Relationship To – The Helpful – The Enlightening – The Moral – The Educational – Or – The True

~ SIESPC ~ Specializing In Ethically Suspect Paid Content

~ JIFTBTSI-A-TINJCDAI ~ Journalism Is Feeding The Beast That Starves It – And – There Is Nothing Journalists Can Do About It

~ FAGAQLTHOC-T-R-C-A-W-TAFON-TNAIATHEITAU-MPM-C-HS-O-P-CHOBDADSODF ~ Firms And Governments Are Quickly Learning The Hazards Of – Connecting – Thermostats – Robots – Cars – And – Watches – To A Fairly Open Network – These Networks Are Insecure And The Humans Embedded In Them Are Undependable – Malevolent Political Movements – Criminals – Hostiles States – Or – Pranksters – Can Hijack Or Bring Down A Delicate System Of Data Flows

~ LWATS-WSTTAMA-INMT-TSU ~ Like With Any Technological System – We Shape These Technologies As Much As – If Not More Than – They Shape Us

~ DI ~ Digital Imperialism

~ DBV-C-RT-P-BTF-A-M-RT-EAL-BTAOP ~ Dollars Became Votes – Commerce – Rather Than – Politics – Became The Forum – And – Markets – Rather Than – Elections And Legislatures – Became The Aggregators Of Preferences

~ IA-GAC-LIVAODOI-TBU-T-LC-A-I-AF-TIICW-D-DS-SMTBU-A-TLWCCLAUAC ~ If A – Global Advertising Company – Leverages Its Vast Array Of Dossiers On Its – Two Billion Users – To – Limit Competition – And – Invite – Antidemocratic Forces – To Infest Its Channels With – Disinformation – Democratic States – Should Move To Break It Up – And – To Limit What Companies Can Learn And Use About Citizens

~ BE ~ Be Evil

~ BTEO-2010-TITSMW-RR-SABAT-A-UDP-W-ATISOE ~ By The End Of – 2010 – The Idea That Social Media Would – Revolutionize Revolutions – Strike A Blow Against Tyranny – And – Unleash Democratic Participation – Was – A Theory In Search Of Evidence

~ T-N-A-IOPHOT-T-A-T-TLWIAI ~ Techno-Narcissism – Assumes – If Only People Had Our Tools – Toys – And – Techniques – Their Lives Would Improve Almost Instantly

~ D-CG ~ Democracy-Colored Glasses

~ ITHO-PM-NMWAI-YSCODTTO ~ In The History Of – Protest Movements – New Media Were Always Important – Yet Seldom Crucial Or Determinative To Their Outcomes

~ P-Q-CQC? ~ Psychographics – Qu’est-Ce Que C’est?

~ TDAOP ~ The Dark Arts Of Psychometrics

~ PE-TPOHDAC-A-GATTEFROTMLTBMBTM ~ Political Engineering – The Process Of Harvesting Data About Citizens – And – Generating Algorithmic Tools That Efficiently Focus Resources On Those Most Likely To Be Moved By Tailored Messages

~ M-HCFSL-P-TSL-E-SH-P ~ Marketing – Has Changed From Something Like – Poetry – To Something Like – Engineering – So Has – Politics

~ TCOPHBC:EOUIAWACOPIGFUAOIGRTGFO-C-N-O-W ~ The Culture Of Politics Has Become Customized: Each Of Us Is Asked Whether A Candidate Or Platform Is Good For Us And Our Immediate Gratification Rather Than Good For Our – Community – Nation – Or – World

~ C-G-‘T’-ATMILWCR-BI-C-C-A-C ~ Citizenship – Grows – “Thin” – As Too Much Information Lies Within Convenient Reach – But Is – Cacophonous – Confusing – And – Contradictory

~ NO-TR-WDIH-OU-O-HIUTD ~ No Obligation – To Reveal – What Data It Has – On Us – Or – How It Uses Those Data

~ WW-MACOT-A-WIIRACIOLWCOTL-TC-WMFOO ~ When We – Make A Cult Of Technology – And – Welcome Its Immediate Rewards And Conveniences Into Our Lives Without Consideration Of The Long-Term Costs – We Make Fools Of Ourselves

~ WHB-D-PFA-D-A-D ~ We Have Become – Data-Producing Farm Animals – Domesticated – And – Dependent

~ ‘TI’-A-ID ~ “The Internet” – And – Its Discontents

~ IWAGT-R-TRIO-A-ROIE-WMDIS-TGD-Q ~ If We Are Going To – Resist – The Rising Illiberal Oliopoly – And – Reform Our Information Ecosystem – We Must Do It Soon – It’s Getting Dark – Quickly

MARIANA MAZZUCATO ~ THE VALUE OF EVERYTHING ~ 2018

~ ILPV-WWLCTLIPAM?-IFDNCV-HDTBSR? ~ If Labour Produced Value – Why Was Labour Continuing To Live In Poverty And Misery? – If Financiers Did Not Create Value – How Did They Become So Rich?

~ TLTOVDWN-TEOANSOITITEAT-VWNIOCOP-T-CE-LTCTAND-TN ~ The Labour Theory Of Value’s Days Were Numbered – The Emergence Of A New Set Of Ideas That Inverted The Earlier Argument That – Value Was Nested In Objective Conditions Of Production – The – Classical Economists – Lost Their Crown To A New Dynasty – The Neoclassicals

~ T-MUTOV-STAIIRFAPU ~ The – Marginal Utility Theory Of Value – States That All Income Is Reward For A Productive Undertaking

~ TMCIAT-S-O-GAA-WBM-PB-MAM-TNAMVOP-LT-COCB-BTFATSC-B-LOUFSB-TCO-IU-WHTIW-NAGOB-B-HCGCBRTEITTMTBTHOH ~ The Medieval Church Inveighed Against The – Sin – Of – Greed And Avarice – Which Broadly Meant – Profiteering By – Middlemen And Moneylenders – This Normative And Moral View Of Price – Linked To – Cheating Or Criminal Behaviour – Began To Fade After The Seventeenth Century – But – Lingered On Until Firmly Supplanted By – The Concept Of – Individual Utility – Which Held That It Was – Not About Good Or Bad – But – How Common Goals Could Be Reached Through Each Individual Trying To Maximize The Benefit To His- Or Herself

~ TN-VT-M-IBOTNO-UAS-AI-S:TVOTIMBTUTTC-TI-T-N-‘O’-SOV-SUMVBIAADT-TUDATAOATTIHOCI-P-TR-T-U-T-BGFT-TSTA-THT-MU-TMCWBWTPFT ~ The – New – Value Theory – Marginalism – It Is Based On The Notions Of – Utility And Scarcity – And Is – Subjective: The Value Of Things Is Measured By Their Usefulness To The Consumer – There Is – Therefore – No – “Objective” – Standard Of Value – Since Utility May Vary Between Individuals And At Different Times – This Utility Decreases As The Amount Of A Thing That Is Held Or Consumed Increases – Prices – Then – Reflect – The – Utility – That – Buyers Get From Things – The Scarcer They Are – The Higher Their – Marginal Utility – The More Consumers Will Be Willing To Pay For Them

~ TPAWACMIWMTHOHTTA(M)UOAC-TTMWP-IWTSII-‘E’-AIRO-HGHTUT-TS-CCOTEAEF-DASTI-P-A-P-‘O’-S-E-T-STOV-B-TRFTPOE-PIADMOV-W-NLM-TLTPTGITE-A-BTM-A-HMWWC ~ The Point At Which A Consumer’s Money Is Worth More To Him Or Her Than The Additional (Marginal) Unit Of A Commodity – That Their Money Would Purchase – Is Where The System Is In – “Equilibrium” – An Idea Reminiscent Of – How Gravity Held The Universe Together – The Smooth – Continuous Curves Of These Equilibrating And Evolutionary Forces – Depict A System That Is – Peaceful – And – Potentially – “Optimal” – Self-Equilibrating – This – Scarcity Theory Of Value – Became – The Rationale For The Price Of Everything – Price Is A Direct Measure Of Value – We – No Longer Measure – The Labour That Produced The Goods In The Economy – And – By This Means – Assess – How Much Wealth Was Created

~ T-MOU-HBEBTEST-EHB ~ The – Maximization Of Utility – Has Been Extended Beyond The Economic Sphere To – Explain Human Behavior

~ B-DTC-MUT-P-AI-HI-TNEVTWWABFPC-H-I-A-CTI-GPATOPMB ~ But – Despite The Critiques – Marginal Utility Theory – Prevails – And Is – Highly Influential – The Narrow Equilibrium View That We Will All Benefit From Perfect Competition – Has – Influenced – And – Continues To Influence – Government Policies And Those Of Powerful Multilateral Bodies

~ WSLAMITC-HPAD-TANTTTI-OOOMDATTAV ~ When Students Learn About Microecnomics In The Classroom – How Prices Are Determined – They Are Not Told That This Is – Only One Of Many Different Approaches To Thinking About Value

~ AT-M-B-VDFP-SEAVHSIIOTPAW-ATST-AHDAJAA-ISTRTPFW:TUOWATOL ~ According To – Marginalists – Because – Value Derives From Price – Somebody Earning A Very High Salary Is Indicative Of Their Productivity And Worth – At The Same Time – Anybody Holding Down A Job At All – Is Supposed To Reflect Their Preference For Work: The Utility Of Work Against That Of Leisure

~ MUT-HAFTAFOOTKPIMC:TEAOTFS ~ Marginal Utility Theory – Has Also Failed To Account For One Of The Key Problems In Modern Capitalism: The Extractive Activities Of The Financial Sector

~ ITCOCUPIBB-SOTTP-IICA-E-TCI-‘O’-TPP-A-LA-A-I-GDP ~ If The Cost Of Cleaning Up Pollution Is Borne By – Someone Other Than The Polluter – It Is Called An – Externality – The Cost Is – “Outside” – The Polluter’s Profit-And-Loss Account – And – Increases – GDP

~ T-‘BP’-HTETPOF-PVR ~ The – “Banking Problem” – How To Estimate The Productiveness Of Finance – Profits Versus Rents

~ T-FS-FSA-U-N-ACOV ~ The – Financial Sector – Formerly Seen As – Unproductive – Now – A Creator Of Value

~ TCOF-B-PLAEB-I-H-NUSA-E ~ The Celebration Of Finance – By – Political Leaders And Expert Bankers – Is – However – Not Universally Shared Among – Economists

~ PFITVOFWUBI2008I-I-TRTTGFCWTITMOEE-‘C’-SBATP-SB-A-TSTWAU-RMP-N-ZIR-SB-CBBUOGOECBTKTPH ~ Policymakers’ Faith In The Value Of Finance Was Undiminished By Its 2008 Implosion – Indeed – Their Reaction To The Global Financial Crisis Was To Insist That More Of Each Economy’s – “Capital” – Should Be Assigned To Private-Sector Banks – And – To Support Them With An Ultra-Relaxed Monetary Policy – Near-Zero Interest Rates – Supplemented By – Central Banks’ Buying Up Of Government Or Even Corporate Bonds To Keep Their Prices High

~ FSWHR-B-ALIHOBCAFOFIS-SH-LTT-FFCELDM-A-ISD-DREAAECSU-WBC-TTTOEMIHRTSFEMRIP-UD(AB)S ~ Financial Sectors Were Heavily Regulated – Because – A Long International History Of Bank Crashes And Failed Or Fraudulent Investment Schemes – Showed How – Left To Themselves – Financial Firms Could Easily Lose Depositors’ Money – And – In So Doing – Disrupt Real Economic Activity And Even Cause Social Unrest – When Banks Competed – They Tended To Offer Ever More Improbably High Returns To Savers By Funding Ever More Risky Investment Projects – Until Disaster (And Bankruptcy) Struck

~ IITTWICOT-TTRR-BOTB ~ It Is The Taxpayer Who Is Called On To – Take The Real Risk – Bailing Out The Banks

~ TCOHRALRTOTBASI ~ The Golden Combination Of High Return And Low Risk Turned Out To Be A Statistical Illusion

~ SEGTHB-‘PK’ ~ Sustaining Economic Growth Through Household Borrowing – “Privatized Kenesianism”

~ ‘SB’- DFITCB-LABANRAB-P-L-F-MAFAMAAQOTGFS ~ “Shadow Banking” – Diverse Financial Intermediaries That Carryout Bank-Like Activities But Are Not Regulated As Banks – Pawnbrokers – Lenders – Funds – May Account For As Much As A Quarter Of The Global Financial System

~ TFSNAFASAGSOTEVAAP-B-O-15%-OTFGGT-BIN-FI-TRITBFI-MMSFMCH-S-NT-‘RE’-B-I ~ The Financial Sector Now Accounts For A Significant And Growing Share Of The Economy’s Value Added And Profits – But – Only – 15 Per Cent – Of The Funds Generated Go To – Businesses In Non-Financial Industries – The Rest Is Traded Between Financial Institutions – Making Money Simply From Money Changing Hands – Serving – Not The – “Real Economy” – But – Itself

~ MUT:FIVBIIV-A-IEPAPOTV ~ Marginalism’s Ultimate Tautology: Finance Is Valuable Because It Is Valued – And – Its Extraordinary Profits Are Proof Of That Value

~ RINP-FR-CBUT-RL-T-A-AHT-DFTTRE-AOT-FOI ~ Reform Is Not Impossible – Financial Regulation – Can Be Used To – Reward Long-Termism – And – Also Help To – Direct Finance Towards The Real Economy – As Opposed To – Feeding On Itself

~ MSV ~ Maximizing Shareholder Value

~ S-TAUI ~ Short-Termism And Unproductive Investment

~ FAI ~ Financialization And Inequality

~ SV ~ Stakeholder Value

~ PVE ~ Patented Value Extraction

~ IA-COTFT-TI-SB-RTT-N-STB ~ If Anything – Companies Owing Their Fortunes To – Taxpayer Investment – Should Be – Repaying The Taxpayer – Not – Seeking Tax Breaks

~ UTPS ~ Undervaluing The Public Sector

~TMOA~ The Myths Of Austerity

~ MN-TOOTA-SBNTNP ~ Magic Numbers – Taken Out Of Thin Air – Supported By Neither Theory Nor Practice

~ T-A-PO-CTAGS-DNRIAEG-WTRPIWD ~ The – Austerity – Policy Of – Cutting Taxes And Government Spending – Does Not Revive Investment And Economic Growth – When The Real Problem Is Weak Demand

~ TOIHWOE ~ Too Often Ideology Has Won Over Experience

~ TCOVMOAFIRPATCOET ~ The Concept Of Value Must Once Again Find Its Rightful Place At The Centre Of Economic Thinking

ROBERT FRANK ~ RICHISTAN ~ 2007

~ TRWJGR-TWB-FF-C-TOCWAC-TOSWAS-A-TOEWAE-TWC-R ~ The Rich Weren’t Just Getting Richer – They Were Becoming – Financial Foreigners – Creating – Their Own Country Within A Country – Their Own Society Within A Society – And – Their Own Economy Within An Economy – They Were Creating – Richistan

~ R-ARTNO-CC ~ Richistanis – Are Reinventing The Notion Of – Conspicuous Consumption

~ ‘A’-TURI ~ “Affluent” – The Ultimate Richistani Insult

~ TLOURHBIC-TRT-TC-‘FO’-LCDETSAFD-T-DN-FIALWTTPAHHS ~ The Lives Of Upper Richistanis Have Become Incredibly Complicated – To Run Them – They’re Creating – “Family Offices” – Large Companies Dedicated Entirely To Serving A Family’s Day-To-Day Needs – From Investments And Legal Work To Travel Plans And Hiring House Staff

~ B ~ Billionaireville

~ B-OOTF-GJ ~ Butlering – One Of The Fastest-Growing Jobs

~ Y-IITGI-F-MTAOF-APTB-R-F-TEB ~ Yet – It Is The Growth In – Finance – More Than Any Other Factor – Allowing People To Become – Richer – Faster – Than Ever Before

~ EOW-EC-CNATKOWORF-R-TE ~ Executives Of Well-Established Companies – Can Now Amass The Kind Of Wealth Once Reserved For – Risk-Taking Entrepreneurs

~ I ~ Instapreneurs

~ TNLC ~ The New Leisure Class

~ F-R-WHBTP-A-PHBTW-YAJ-ANLWCGTATRTKW-EITFITMOSATA ~ For – Richistanis – Work Has Become Their Play – And – Play Has Become Their Work – Yachts And Jets – Are Now Loaded With Communications Gear To Allow The Rich To Keep Working – Even If They’re Floating In The Mediterranean Or Soaring Above The Atlantic

~ TCE-R-LTTOTAOP-AWEF ~ The Conflicted Elite – Richistanis – Like To Think Of Themselves As Ordinary People – Albeit With Extraordinary Fortunes

~ FOF-WTNRCMGFIRT-TCLTJAQ ~ Fear Of Falling – While The New Rich Can Make Giant Fortunes In Record Time – They Can Lose Them Just As Quickly

~ BBB ~ Beach Blanket Billionaires

~ Y:WTSPCS ~ Yachts: When The Stripper Pole Comes Standard

~ B-DC-ART-FR ~ Big-Dog Cars – A Return To – Flashy Rides

~ PBN ~ Painting By Numbers – The Art Market

~ P ~ Plutonomics

~ PP-GFR ~ Performance Philanthropy – Giving For Results

~ CA-PHNBMF-RWAC ~ Competitive Altruism – Philanthropy Has Never Been More Fashionable – Rebel With A Cause

~ WW-TTWM-TFTO-WSG ~ Worried Wealth – The Trouble With Money – They’d Formed Their Own – Wealth Support Groups

~ TIM ~ The Inner Millionaire

~ A-WTNTW-CDLSOMOD-THTD-BLS-CU-MM-WWOP-STUTROHSAP-TPGITWOHM ~ Aristokids – Without The Need To Work – Children Develop Little Sense Of Motivation Or Drive – They Have Trouble Developing – Basic Life Skills – Cleaning Up – Managing Money – Working With Other People – Since They’re Used To Relying On House Staff And Parents – The Privilege Gets In The Way Of Healthy Maturation

~ MGPTATBTWOOLE ~ Money Gives People The Ability To Buy Their Way Out Of Life Experiences

~ IWOG-WC-H-TTWUTWTHTSDP ~ Inequality Will Only Grow – We Can – Hope – That They Will Use Their Wealth To Help Target Society’s Deepest Problems

MARG DE VILLIERS ~ WATER ~ 1999

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

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

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

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

~ ANWLT-1000CMPPPY-I-WS ~ Any Nation With Less Than – 1,000 Cubic Metres Per Person Per Year – Is – Water Scarce

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

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

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

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

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

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

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

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

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

~ DAG ~ Deserts Are Growing

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

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

~ ADOTE ~ Anthropogenic Degradation Of The Environment

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

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

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

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

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

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

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

~ PLTD ~ Pollution Leads To Disease

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

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

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

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

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

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

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

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

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

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

~ ‘W-S-M’ ~ “Water-Stress-Management”

~ SA ~ Shrinking Aquifers

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

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

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

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

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

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

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

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

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

~ DC ~ Dew Collectors

~ F-DI ~ Fog-Drip Irrigation

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

~ LFAATT ~ Learn From And Adapt Traditional Techniques

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

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

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

MATT TAIBBI ~ GRIFTOPIA ~ 2010

~ BE-A KOH-TCS-TKNJLDD-OTPI-C-N-COH ~ Bubble Economics – A Kind Of High-Tech Casino Scam – That Kills Neighborhoods Just Like Dope Does – Only The Product Is – Credit – Not – Crack Or Heroin

~ TGC ~ The Grifter Class

~ TIHRS-CPMIHTNTATRIOTP ~ The Insurmountable Hurdle For So-Called Populist Movements Is Having The Nerve To Attack The Rich Instead Of The Poor

~ TDFU-WFT ~ They Don’t Feed Us – We Feed Them

~ ITETPWADAOTDR ~ In The End The Printed Wealth All Disappeared And Only The Debts Remained

~ APRMFTS-GPFTA ~ A Pure Free Market For The Suckers – Golden Parachutes For The Atlases

~ WPFT-IO-AGOHI-O-AAEG-O-AB-NSORAH ~ We Paid For This – Instead Of – A Generation Of Health Insurance – Or – An Alternative Energy Grid – Or – A Brand-New System Of Roads And Highways

~ IYCFASITC-WSITSOL-ID ~ If You Can’t Fit A Story Into The Culture-War Storyline In Ten Seconds Or Less – It Dies

~ OG-AD-DD ~ Organized Greed – Always Defeats – Disorganized Democracy

~ BIAF-TDS ~ Born In A Four-Thousand Dollar Suite

~ AYHHIWBFYTMMISFYABFDAW ~ Ask Yourself How Hard It Would Be For You To Make Money If Someone Fronted You A Billion Free Dollars A Week

~ S-BOYH-ETD-TBT-YABJ ~ Stolen – Billions Of Your Hard-Earned Tax Dollars – To Buy Themselves – Yachts And BlowJobs