DAVID HOROWITZ ~ THE ART OF POLITICAL WAR AND OTHER RADICAL PURSUITS

~ PIWCBOM ~ Politics Is War Conducted By Other Means

~ IPWYDNFJTPIAA-BTDTEFA ~ In Political Warfare You Do Not Fight Just To Prevail In An Argument – But To Destroy The Enemy’s Fighting Ability

~ YHOTSTMYP ~ You Have Only Thirty Seconds To Make Your Point

~ PIAWOP-YTITDYATFOALACAPCWYP-WDYOATEWYC-CTTTMTFAEFYAP ~ Politics Is A War Of Position – Your Task Is To Define Yourself As The Friend Of As Large A Constituency As Possible Compatible With Your Principles – While Defining Your Opponent As The Enemy Whenever You Can – Choose The Terrain That Makes The Fight As Easy For You As Possible

~ IPW-TAUP-AIABPIAWOP-WIDBITS ~ In Political Warfare – The Aggressor Usually Prevails – Aggression Is Advantageous Because Politics Is A War Of Position – Which Is Defined By Images That Stick

~ BSF-YCDTIAWAYA-DTOITDMIAPW ~ By Striking First – You Can Define The Issues As Well As Your Adversary – Defining The Opposition Is The Decisive Move In All Political War

~ TWPPWHBTF-TWIFBE-OTT-HITBC ~ Position Is Defined By Fear And Hope – Those Who Provide People With Hope Become Their Friends – Those Who Inspire Fear Become Enemies – Of The Two – Hope Is The Better Choice

~ TWOPASEFAH-TMISITC ~ The Weapons Of Politics Are Symbols Evoking Fear And Hope – The Most Important Symbol Is The Candidate

~ PWNCAWYHTS-UTBYCAT-TAOPIPP-WDNKY-AWWNKY ~ People Will Not Care About What You Have To Say – Unless They Believe You Care About Them

~ TAOPIPP-WWNKYETSASB-TYCAT ~ The Art Of Politics Is Persuading People – Who Will Never Know You Except Through Symbols And Sound Bites – That You Care About Them

~ VLOTSOTP-YMDYIWTPU-YMGPHIYV-AMTFTVOYO ~ Victory Lies On The Side Of The People – You Must Define Yourself In Ways That People Understand – You Must Give People Hope In Your Victory – And Make Them Fear The Victory Of Your Opponent

~ OOTPSOHMIATTEIAOUTTFGWWAGATFTAWWH ~ One Of The Principal Sources Of Human Misery Is A Tendency That Exists In All Of Us To Take For Granted What We Are Given And To Fail To Appreciate What We Have

~ ALGIHDITPFRTK ~ A Lie Grounded In Human Desire Is Too Powerful For Reason To Kill

JAMES KWAK ~ ECONOMISM

~ 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-ITWTMOJTESO-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

~ RARWQTSMAATITST-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

~ TAOETPAASRTRDIOSOIS ~ The Ability Of Economism To Pass As Abstract Science Rather Than Rhetorical Device Is One Source Of Its Strength

~ EIAIBOISEAEP-ACUPOTW-WCBCQAE-DWMAUF ~ 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-HBSWICS ~ A Small Set Of Abstract Concepts – Based On Admittedly Unrealistic Assumptions – Has Become So Widespread In Contemporary Society

~ IALETMACITAWOSADC-TIIITRWOPAI ~ It’s A Lost 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-OPIWAFIOTW ~ 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

~ EEBPAOSHTCUBEPTTA ~ Economism Exists Because People And Organizations Saw How They Could Use Basic Economic Principles To Their Advantage

~ AWFFBMEIP-MDCRTEI ~ As Wealthy Family Foundations Became More Engaged In Politics – Many Devoted Considerable Resources To Economic Ideas

~ BBTPO-PT-SI-AWP-TECTAJDUE-ASOTET-T-CCTBUWEFTPOPTO ~ Befuddled By The Popularity Of – Progressive Taxes – Social Insurance – And Welfare Programs – These Entrepreneurs Concluded That Americans Just Didn’t Understand Economics – And Set Out To Educate Them – Today – Commentators Continue To Blame Unfamiliarity With Economics For The Popularity Of Policies They Oppose

~ MICWDNSIEIARATVOE ~ Many Influential Commentators Who Do Not Specialize In Economic Issues Also Routinely Adopt The Vocabulary Of Economism

~ TMNEBMIASWOPADSAEI ~ The Media Normalize Economism By Making It A Standard Way Of Presenting And Discussing Social And Economic Issues

~ TFTCCWOUSBFE101-DTPVOE-IOTATSR ~ The Fact That Candidates Can Win Office Using Sound Bites From Economics 101 – Demonstrates The Political Viability Of Economism – Inspiring Others To Adopt The Same Rhetoric

~ EFBAAEDTAAAWODAFTRI ~ Economism Functions Both As An Effective Debating Tool And As A Way Of Distracting Attention From The Real Issues

~ ATPOE-TPRITBBAWEP-R-LIBASIAM-YMWYD-EPTPJFT-W-T-A-RS-ALFTWPOV-H-WHRMMSTP-TDHTPTPLADBNP-NPP ~ According To The Principles Of Economism – The People Raking In The Big Bucks Are Worth Every Penny – Remember – Labor Is Bought And Sold In A Market – You Make What You Deserve – Economism Provides The Perfect Justification For The – Winner-Take-All – Reward Scale – At Least From The Winner’s Point Of View – However – Wages Have Risen Much More Slowly Than Productivity – This Divergence Highlights The Possibility That Pay Levels Are Determined By Negotiating Power – Not Pure Productivity

~ ECRPFS-AGTINJTWBAOPWRFAIITSM ~ Excessive Compensation Reduces Profits For Shareholders – A Group That Includes Not Just The Wealthy But Also Ordinary People Whose Retirement Funds Are Invested In The Stock Market

~ ALTSTT-TCBMBI-CCETMDTMTBBHTCITLR ~ Awards Linked To Short-Term Targets – That Can Be Manipulated By Insiders – Can Cause Executives To Make Decisions That Maximize Their Bonuses But Harm The Company In The Long Run

~ FC-WSGWHBACPQ-ERTQFTPSTTAROT-IWTCLMPTPIS ~ 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

~ OOTCPOEITTA-VVB-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

~ TOIIHFPITUSOTPSY-WNOIIESOG-TEEMRIT1950A1960-APWTTROMIIW70%OH ~ Taxes On Investment Income Have Fallen Precipitously In The United States Over The Past Seventy Years – With No Obvious Increase In Either Savings Or Growth – The Economy Expanded Most Rapidly In The 1950s and 1960s – A Period When The Tax Rates On Most Investment Income Were 70 Percent Or Higher

~ TROCGHHLIEOSOOEG ~ Tax Rates On Capital Gains Have Had Little Impact Either On Savings Or On Economic Growth

~ MPABUOTTR-MHBFDABNOSCIROR-BOPR-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

~ TSMSTLITWISAGDHUTS-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-ASTQOWTAWDOWFWEFOGAHWIFT ~ 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

~ ERMFTPHBIACWBIAWOE-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

~ BCTSOAT-EDTTIADAA-TWSITWII-IYDA-YMNUE101 ~ 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-IWTANWTDBWTO ~ Ultimately – It Will Take A New Worldview To Do Battle With The Old

GEORGE AKERLOF + ROBERT SHILLER ~ PHISHING FOR PHOOLS ~ 2015

~ P-GPTDTTAITIOTP-B-NITIOTT ~ Phish – Getting People To Do Things That Are In The Interests Of The Phisher – But – Not In The Interest Of The Target

~ P-SW-FWR-ISP ~ Phool – Someone Who – For Whatever Reasons – Is Successfully Phished

~ PFS-AFFOELHNMIITET-NOWTGTBANWATB-YMPD ~ Personal Financial Insecurity – A Fundamental Fact Of Economic Life Has Never Made It Into The Economics Textbooks – No One Wants To Go To Bed At Night Worried About The Bills – Yet Most People Do

~ BP-CSLTC-‘BP’-TMTCF-SSAF-YNOWTBO ~ Big Phood – Commissions Scientific Laboratories To Calculate – “Bliss Points’ – That Maximize The Craving For – Sugar, Salt, And Fat – Yet No One Wants To Be Obese

~ TPHTUOTCOMTAC-TPFMDTANITBI-TDNDWIRGFT-TDNCWTRW ~ The Psychologists Have Taught Us Over The Course Of More Than A Century – That People Frequently Make Decisions That Are Not In Their Best Interest – They Do Not Do What Is Really Good For Them – They Do Not Choose What They Really Want

~ WTACFM-TINOFTC-TIAFTP ~ When There Are Completely Free Markets – There Is Not Only Freedom To Choose – There Is Also Freedom To Phish

~ WAPB-WWTRGAF-WWTBNTPWL-WDNWTDA-WTTFOIDHTB-WWODTBIC-A-WAATTL ~ We Are Phisable Because – We Want To Reciprocate Gifts And Favors – We Want To Be Nice To People We Like – We Do Not Want To Disobey Authority – We Tend To Follow Others In Deciding How To Behave – We Want Our Decisions To Be Internally Consistent – And – We Are Averse To Taking Losses

~ NTDB-OITOORT-A-OITOOMOTST-MAGDTOL-IAMRWJLPB-FTC-LTSEP ~ Noticing The Difference Between – Optimality In Terms Of Our Real Tastes – And – Optimality In Terms Of Our Monkey-On-The-Shoulder Tastes – Makes A Great Difference To Our Lives – It’s A Major Reason Why Just Letting People Be – Free To Choose – Leads To Serious Economic Problems

~ TMG-TBWTPFMITLTPT-B-JBWCSTMDNMIT ~ The Mantra Goes – The Best Way To Police Financial Markets Is To Let Them Police Themselves – But – Just Because We Can Say The Mantra Does Not Make It True

~ RM-TM-O-LDDDFP-OW-WRFI ~ Reputation Mining – The More-Or-Less Deliberate Drawing Down For Profit – Of Hard-Won Reputation For Integrity

~ TEO-‘RB’-WTWE ~ The Era Of – “Relational Banking” – Where Trust Was Essential

~ HDIATIBC-STTWNLTFOTB? ~ How Did Incentives At The Investment Banks Change – So That Trust Was No Longer The Foundation Of Their Business?

~ TEO-‘PTCIF’-CNLBTFG ~ The Ethic Of – “Placing The Client’s Interest First” – Can No Longer Be Taken For Granted

~ TCOIFRPFBIOSR ~ The Conflict Of Interest From Ratings Paid For By Issuers Of Securities Remains

~ RSOTLFPCBHRITFS ~ Relatively Small Opportunities To Loot For Profit Can Bring Huge Risks Into The Financial System

~ ORTPIR ~ One Response To Phishing Is Regulation

~ NIATIDNIYEP-SOT-I-GNWTPFP ~ New Ideas And Technical Innovation Do No Invariably Yield Economic Progress – Some Of Them – Instead – Give New Ways To Phish For Phools

~ TAI-WDATP-SSM-A-SIMCF ~ There Are Idealists – Who Draw Attention To Phishing – Start Social Movements – And – Set In Motion Corrective Forces

~ THMNTITON-MOOTFAPSTAC-MACBVAGSOIOOTMNIOM ~ The Human Mind Naturally Thinks In Terms Of Narratives – Much Of Our Thought Follows A Pattern Similar To A Conversation – Most Advertising Can Be Viewed As Grafting Stories Of Its Own Onto The Mental Narratives In Our Minds

~ MSTNTMAA-BPAP-WAHTP ~ Modern Statistical Techniques Now Tell Marketers And Advertisers – Both Private And Political – Where And How To Phish

~ TWOAAMISAGTRMACTRS ~ The World Of Advertising And Marketing Is Still About Getting The Right Message And Creating The Right Story

~ BAOTBOFMSNABUTTD ~ Being Aware Of The Benefits Of Free Markets Should Not Also Blind Us To Their Defects

~ RE-PAAATR ~ Rankings Everywhere – People Are Addictively Attracted To Rankings

~ CTCR-AEAARAB ~ Compared To Cancer Research – Alcohol Epidemiology And Alcohol Research Are Backwaters

~ BFP ~ Bankruptcy For Profit

~ TCWKDTR ~ The Can Was Kicked Down The Road

~ TROMFR ~ The Role Of Misleading Financial Ratings

~ SE-PNCS-B-IF-WLIACOP ~ Standard Economics – Presumes No Civil Society – But – In Fact – We Live In A Community Of People

~ MP-ISWOO-COGNBOTO-‘S’-PATT-S-TAISTOSWANO ~ Most Phishing – In Some Way Or Other – Consists Of Grafting New Branches Onto The Old – “Stories” – People Are Telling Themselves – Sometimes – It Also Involves Supplanting The Old Story With A New One

~ MEIFTGWDAT-PNASTDHBSUTR ~ Modern Economics Inherently Fails To Grapple With Deception And Trickery – Peoples Naiveté And Susceptibility To Deception Have Been Swept Under The Rug

~ TPHTLOTDM ~ The Psychologists Have Their Lists Of These Dysfunctional Motivations

~ SODAUBOTSWATOAOS-TGUATCOM-TAUTUHMPFPH-TSAQM-JCPFAOCCTDTM ~ Since Our Decisions Are Usually Based On The Stories We Are Telling Ourselves About Our Situation – This Give Us A Transparent Characterization Of Motivation – That Allows Us To Understand How Most Phishing For Phools Happens – These Stories Are Quite Manipulable – Just Change People’s Focus And One Can Change The Decisions They Make

ROBERT PAXTON ~ “MOBILIZING PASSIONS” ~ THE ANATOMY OF FASCISM

~ ASOOCBTROATS ~ A Sense Of Overwhelming Crisis Beyond The Reach Of Any Traditional Solutions

~ TPOTG-TWOHDSTER-WIOU-ATSOTITI ~ The Primacy Of The Group – Toward Which One Has Duties Superior To Every Right – Whether Individual Or Universal – And The Subordination Of The Individual To It

~ TBTOGIAV-ASTJAA-WLOML-AIE-BIAE ~ The Belief That One’s Group Is A Victim – A Sentiment That Justifies Any Action – Without Legal Or Moral Limits – Against Its Enemies – Both Internal And External

~ DOTGDUTCEO-IL-CC-AI ~ Dread Of The Group’s Decline Under The Corrosive Effects Of – Individualistic Liberalism – Class Conflict – Alien Influences

~ TNFCIOAPC-BCIP-O-BEVIN ~ The Need For Closer Integration Of A Purer Community – By Consent If Possible – Or – By Exclusionary Violence If Necessary

~ TNFABNC-AM-CIANCWICOITGHD ~ The Need For Authority By Natural Chiefs – Always Male – Culminating In A National Chieftain Who Alone Is Capable Of Incarnating The Group’s Historical Destiny

~ TSOTLIOAAUR ~ The Superiority Of The Leader’s Instincts Over Abstract And Universal Reason

~ TBOVATEOW-WTADTTGS ~ The Beauty Of Violence And The Efficacy Of Will – When They Are Devoted To The Group’s Success

~ TROTCPTDOWRFAKOHODL-RBDBTSCOTGPWADS ~ The Right Of The Chosen People To Dominate Others Without Restraint From Any Kind Of Human Or Divine Law – Right Being Decided By The Sole Criterion Of The Group’s Prowess Within A Darwinian Struggle

DAVID GRAEBER ~ DEBT – THE FIRST 5,000 YEARS ~ 2011 + 2012

~ IOTORCHTFSOFMEPDIWOZ-TTCHNAT-ANW ~ In Order To Obtain Refinancing Countries Have To Follow Some Orthodox Free-Market Economic Policy Designed In Washington Or Zurich – That Their Citizens Had Never Agreed To – And Never Would

~ IWABDTITCADC-ATAIT-WGE-THNCOTCPA ~ It Was A Bit Dishonest To Insist That Countries Adopt Democratic Constitutions – And Then Also Insists That – Whoever Gets Elected – They Have No Control Over Their Country Policies Anyway

~ FTOY-TSBRAPHLTTFOCBCAD-OAB-IP-DP-A-R-R-TSOS-TSOV-TSODCIS ~ For Thousands Of Years – The Struggle Between Rich And Poor Has Largely Taken The Form Of Conflicts Between Creditors And Debtors – Of Arguments About – Interest Payment – Debt Peonage – Amnesty – Repossession – Restitution – The Sequestering Of Sheep – The Seizing Of Vineyards – The Selling Of Debtors’ Children Into Slavery

~ FTLFTY-WRR-PIHB-WTRDOTDR-CTDARTL ~ For The Last Five Thousand Years – With Remarkable Regularity – Popular Insurrections Have Begun – With The Ritual Destruction Of The Debt Records – Cancel The Debts And Redistribute The Land

~ AAWROWTWHPACRISOBVORAW ~ Arguments About Who Really Owes What To Whom Have Played A Central Role In Shaping Our Basic Vocabulary Of Right And Wrong

~ TNNAVM-A-TWTOFOM ~ There’s Nothing New About Virtual Money – Actually – This Was The Original Form Of Money

~ ITCSV-TSATM-TAAEADOP-HRR-H-TWBTAHABI ~ In That Common Sense View – The State And The Market – Tower Above All Else As Diametrically Opposed Principles – Historical Reality Reveals – However – They Were Born Together And Have Always Been Intertwined

~ NOIIMTMDP-MADAOTSAETST ~ Not Only Is It Money That Makes Debt Possible – Money And Debt Appear On The Scene At Exactly The Same Time

~ SOTVFWDTHCDTUAMTRCAD ~ Some Of The Very First Written Documents That Have Come Down To Us Are Mesopotamian Tablets Recording Credits And Debits

~ TSOMFEABWAFWOB-TPIWTLTFITAS-WWNCVMCF ~ The Story Of Money For Economists Always Begins With A Fantasy World Of Barter – The Problem Is Where To Locate This Fantasy In Time And Space – What We Now Call Virtual Money Came First

~ B-ATBLAKOABOTUOCOPM-IHMBWPWAUTCTDWFOROATHNATC ~ Barter – Appears To Be Largely A Kind Of Accidental Byproduct Of The Use Of Coinage Or Paper Money – It Has Mainly Been What People Who Are Used To Cash Transactions Do When For One Reason Or Another They Have No Access To Currency

~ A-TFRWF-’F’-IAKHL-LM-’RTM’ ~ Amargi – The First Recorded Word For – “Freedom” – In Any Known Human Language – Literally Means – “Return To Mother”

~ SCM-MRS-NCCWTO-AL-IALTFWWRT ~ States Created Markets – Markets Require States – Neither Could Continue Without The Other – At Least – In Anything Like The Forms We Would Recognize Today

~ C-MWNITOTIOBBN-SNWHNRTEIBITFP ~ Clearly – Money Was Not Invented To Overcome The Inconveniences Of Barter Between Neighbors – Since Neighbors Would Have No Reason To Engage In Barter In The First Place

~ TSASA-CTTS-AT-DTEFITK-OTPOOTCB-NEF-IOTGTHOTC-MFSWT-PSWTTW-MABIEAASE ~ To Support A Standing Army – Coins To The Soldiers – And Then – Demands That Every Family In The Kingdom – Obliged To Pay One Of Those Coins Back – Now Every Family – In Order To Get Their Hands On The Coins – Must Find Some Way To – Provide Soldiers With Things They Want – Markets Are Brought Into Existence As A Side Effect

~ DTDLA-TTEOSAMASO-THRITETOITC-SSTATBWM ~ Despite The Dogged Liberal Assumption – That The Existence Of States And Markets Are Somehow Opposed – The Historical Record Implies That Exactly The Opposite Is The Case – Stateless Societies Tend Also To Be Without Markets

~ WIEO-OTLFTY-MHBE-ACOTS ~ Whatever Its Earliest Origins – Of The Last Four Thousand Years – Money Has Been Effectively – A Creature Of The State

~ MIC-ICBBIBBPCA-TSMETAADTLT ~ Money Is Credit – It Can Be Brought Into Being By Private Contractual Agreements – The State Merely Enforces The Agreement And Dictates The Legal Terms

~ AOTISTGBTSSOO-’SC’-TESAO-TNORKEWOBW-OWWSBBBTDODAOTOM-WWDFPBBTDOODAOAE ~ All Of This Is Said To Go Back To Some Sort Of Original – “Social Contract” – That Everyone Somehow Agreed On – Though No One Really Knows Exactly When Or By Whom – Or Why We Should Be Bound By The Decisions Of Distant Ancestors On This One Matter – When We Don’t Feel Particularly Bound By The Decisions Of Our Distant Ancestors On Anything Else

~ TBBSAM-BGAM-INITTHC ~ The Battle Between State And Market – Between Governments And Merchants – Is Not Inherent To The Human Condition

~ ‘F’-CTRAATRFTEOD ~“Freedom” – Came To Refer Above All To Release From The Effects Of Debt

~ AHRABOSVOR-IS-TDRIATROAM-BDIWHWSBHNYBR ~ All Human Relations Are Based On Some Variation On Reciprocity – If So – Then Debt Really Is At The Root Of All Morality – Because Debt Is What Happens When Some Balance Has Not Yet Been Restored

~ WEA-C-WOCF ~ We Are All – Communists – With Our Closest Friends

~ NRMOWWWTLIAPWNDLAOA ~ No Reasonable Man Or Woman Would Want To Live In A Place Where Neighbors Don’t Look After One Another

~ GASCADFCABOSF:TCBS ~ Gold And Silver Coins Are Distinguished From Credit Arrangements By One Spectacular Feature: They Can Be Stolen

~ MCSC ~ Military-Coinage-Slavery Complex

~ MATHFE-ITNEAL-AASEOGAS ~ Markets Appear To Have First Emerge – In The Near East At Least – As A Side Effect Of Government Administrative Systems

~ WUTATCAMATST-B-IMWTCREWBCAO-WMAWOEGTTMOM-CIFAFTAOUMTGMM-TEWTDTIBESKOFODFRM ~ We’re Use To Assuming That Capitalism And Markets Are The Same Thing – But – In Many Ways They Could Equally Well Be Conceived As Opposites – While Markets Are Ways Of Exchanging Goods Through The Medium Of Money – Capitalism Is First And Foremost The Art Of Using Money To Get More Money – The Easiest Way To Do This Is By Establishing Some Kind Of Formal Or De Facto Monopoly

~ B-1520A1650-UTOGASFMAPWTATAAPISTS-VLOTGASLVLIE-MOTGEUITII-ATOMOTSBWUSOTC-EHNPMOATAWTB-SIWFTPISFSSSAOI ~ Between – 1520 and 1640 – Untold Tons Of Gold And Silver From Mexico And Peru Were Transported Across The Atlantic And Pacific In Spanish Treasure Ships – Very Little Of That Gold And Silver Lingered Very Long In Europe – Most Of The Gold Ended Up In Temples In India – And The Overwhelming Majority Of The Silver Bullion Was Ultimately Shipped Off To China – Europe Had Never Produced Much Of Anything That Asians Wanted To Buy – So It Was Forced To Pay In Specie For Silks, Spices, Steel, And Other Imports

~ TEYOEEWLATGAET-EL-O-TNSOGASWWTPFT ~ The Early Years Of European Expansion Were Largely Attempts To Gain Access Either To – Eastern Luxuries – Or – To New Sources Of Gold And Silver With Which To Pay For Them

~ THTBPIM-EB-IC-CTBTMAIHITMA-BMOVFOVCM-T-PN-O-STKTOWOWTW ~ Taxes Had To Be Paid In Metal – Everyday Business – In Contrast – Continued To Be Transacted Much As It Had In The Middle Ages – By Means Of Various Forms Of Virtual Credit Money – Tallies – Promissory Notes – Or – Simply The Keeping Track Of Who Owed What To Whom

~ CC-WELBS-O-WPRTAT-TLBPAOS-AA-GASWUBTGTPAAPS ~ Cold Cash – Was Employed Largely Between Strangers – Or – When Paying Rents, Tithes, And Taxes – To Landlords, Bailiffs, Priest, And Other Superiors – Above All – Gold And Silver Were Used By The Government To Purchase Arms And Pay Soldiers

~ TGCTMWENTP ~ The Great Conversation That Many Were Expecting Never Took Place

~ WCTWEBWCNLIAATWBEW ~ We Cling To What Exists Because We Can No Longer Imagine An Alternative That Wouldn’t Be Even Worse

~ ASTRTWTNCOBHIPBW ~ Any System That Reduces The World To Numbers Can Only Be Held In Place By Weapons

~ ITLSOT-JANOHTRTTUOTV-NOHTRTTUWWTO ~ In The Largest Scheme Of Things – Just As No One Has The Right To Tell Us Our True Value – No One Has The Right To Tell Us What We Truly Owe

MARI SWINGLE ~ I-MINDS ~ 2016

~ DTOOO-WAIA ~ Due To Our Own Overarousal – We Are Increasingly Annoyed

~ TLAOL ~ The Lost Art Of Leisure

~ WHMFBGOIATGI-TA ~ We Have Moved Far Beyond Gaming Or Internet Addiction To Generalize I-Tech Addiction

~ AAC-MEOADA-W-I-A-D-ADHD-SI ~ Across All Cultures – Mounting Evidence Of A Definite Association – With – I-Addiction – Depression – ADHD – Suicidal Ideation

~ AD ~ Alpha Deregulation

~ TDED:AITAHULES-A-EUDUNH ~ The Double-Edged Delusion: All I-Tech Are Helping Us Learn Exquisite Skills – And – Excessive Usage Does Us No Harm

~ EGCBAMITSWASA ~ Excessive Gaming Changes Brain Activity Much In The Same Way As Substance Abuse

~ AGMWBT-NEIAI-ATLYOYC-E-SI-B-O-

~ FLC-TPDPATH ~ For Little Children – The Potential Developmental Perils Are Too High

~ I-TSNRHIOHP-IWCT-ISBIAT-NARF-

~ KDOWALTGS-EAAANSWPOI-

~ O-G-O-S-HTBALBB-O-TBDNLTL-

~ B-AAWS-LANFP ~ Babies – Although Attentively Watching Screens – Learn Absolutely Nothing From Programs

~ UFRSO-DBITEHAPI-GTICF-PTIYET-

~ TIMETTEIODMIICTBOIIMCPOD-

~ SOPHFACBETVATDOAD-

~ THSIFOVD-AOTCWCATGE-

~ LKDCI-MBNAMTAOTGOD ~ Little Kids Don’t Crave I-Media By Nature Any More Than Any Other Toy, Game, Or Device

~ TDE ~ The Disinhibition Effect

~ ITP-TBCUFR-TTC ~ In The Past – The Bullied Could Usually Find Refuge – Today They Cannot

~ SATN:D-D-A-TDOI ~ Sex And The Net: Desensitization – Disinhibition – And – The Death Of Intimacy

~ MPNBTNTCWOATRSDOSV ~ Many People Now Believe They Need To Compete With Online Activity To Remain Sexually Desirable Or Sexually Valid

~ WCBIAOTIAI-T-TIHMMAATP ~ We Can’t Blame It All On The Internet And I-Tech – The Internet Has Merely Magnified And Accelerated The Process

~ SFMIISOAEO-TTEORL ~ Sexuality For Males Is Increasingly Sought Out And Expressed Online – To The Exclusion Of Real Life

~ ATPOCHBFTBSRTDAA ~ Addiction To Pornography Or Cybersex Has Been Found To Be Specifically Related To Depression And Anxiety

~ FOMO ~ Fear Of Missing Out

~ IMBTMAOTTCOTMTITTA ~ It May Be The Medium As Opposed To The Content Of The Medium That Is The True Addiction

~ GIA ~ Generalized Internet Addiction

~ FIA ~ Fantasy Internet Addiction

~ TIA ~ Technological Internet Addiction

~ WWHFTAIWIHTOBITGEOLOI-T ~ What We Have Forgotten To Ask Is What Is Happening To Our Brains In This Great Experiment Of Life On I-Tech

~ C ~ Cyberchondria

~ BLNLTT-TS-RU-DU ~ But Let’s Not Let This Tool – This System – Rule Us – Deregulate Us

~ SOB ~ Setting Of Boundaries

~ TBP! ~ Take Back Play!

ROBERT FRANK ~ SUCCESS AND LUCK ~ 2016

~ GF&TMOM ~ Good Fortune And The Myth Of Meritocracy

~ SSHDTCEPAMLRIILOTMPOI ~ Social Scientists Have Discovered That Chance Events Play A Much Larger Role In Important Life Outcomes Than Most People Once Imagined

~ TROMHCEN ~ The Rhetoric Of Meritocracy Has Caused Enormous Harm

~ M-CI-1958-AAP-QCOA-AAOP ~ Meritocracy – Coined In – 1958 – As A Pejorative – Quickly Co-Opted As – An Adjective Of Praise

~ STTEMHEABOL-AVOTTTTDRBOT-TTAWTTTA ~ Saying That Top Earners May Have Enjoyed A Bit Of Luck – Apparently Verges On Telling Them That They Don’t Really Belong On Top – That They Aren’t Who They Think They Are

~ TROMATHCTETWSAFOHDOECBAIC ~ The Rhetoric Of Meritocracy Appears To Have Camouflaged The Extent To Which Success And Failure Often Hinge Decisively On Events Completely Beyond Any Individual’s Control

~ SMCEFMMPILTTMPR ~ Seemingly Minor Chance Events Figure Much More Prominently In Life Trajectories Than Most People Realize

~ BWATMTAHPWNAMMS? ~ But What About The Many Talented And Hardworking People Who Never Achieve Much Material Success?

~ IOTTSTSWW1%HTOII1%MTD1PMI-B-TIOCLMLWSSPDTI-TFDIE ~ It’s One Thing To Say That Someone Who Works 1 Percent Harder Than Others Or Is 1 Percent More Talented Deserves 1 Percent More Income – But – The Importance Of Chance Looms Much Larger When Such Small Performance Differences Translate Into – Thousands-Fold Differences In Earnings

~ WTAM-TPRTATAHOWITM-AENOC-ATMCTA-TMLM ~ Winner-Take-All Markets – The Prodigious Rewards That Accrue To A Handful Of Winners In These Markets – Attracts Enormous Numbers Of Contestants – And The More Contestants There Are – The More Luck Matters

~ PWBTSDOOTAA-AHAESOHTTA-MFIETMTKOENFS ~ People Who Believe That Success Depends Only On Talent And Effort – And Have An Exaggerated Sense Of How Talented They Are – May Find It Easier To Muster The Kinds Of Effort Necessary For Success

~ B-UTIOEF-MAEC-IM-FEEPTCIAIWTHNRPOS-IAATMSPMRTUTINTSETSMS ~ But Underestimating The Importance Of External Forces – May Also Entail Significant Costs – It May – For Example Encourage People To Compete In Arenas In Which They Have No Realistic Prospect Of Succeeding – It Also Appears To Make Successful People More Reluctant To Underwrite The Investments Necessary To Sustain Environments That Support Material Success

~ TFRTNSCPWEMFICTAC ~ The Fact Remains That No Society Can Prosper Without Effective Means For Its Citizens To Act Collectively

~ SGIU-ISWTAWTMIB-SSHDMEGTO ~ Since Government Is Unavoidable – It’s Surely Worth Thinking About Ways To Make It Better – Some Societies Have Demonstrably More Effective Governments Than Others

~ ‘HB’-WYTYAKWH-IETIRFWIHTH ~ “Hindsight Bias” – When You Think You Already Know What Happened – It’s Easy To Invent Reasons For Why It Had To Happen

~ HBOWPFWPOUSO ~ Hindsight Bias Operates With Particular Force When People Observe Unusually Successful Outcomes

~ TME ~ The Matthew Effect

~ WTAM-GDTCF-RDLOAPTORP-RTTBHCITHOAFTP ~ Winner-Take-All Markets – Generally Display Two Characteristic Features – Rewards Depend Less On Absolute Performance Than On Relative Performance – Rewards Tend To Be Highly Concentrated In The Hands Of A Few Top Performers

~ B-EP-ASMC-WWAWEBETAH-B-TWRB-TMTAH-ITCP ~ Because – Enormous Prizes – Attract So Many Contestants – Winners Will Almost Without Exception Be Enormously Talented And Hardworking – But – They Will Rarely Be – The Most Talented And Hardworking – In The Contestant Pool

~ E-HUTH-IAGM-TMMYST-TMLTB-AIYSTEM-ABI ~ Events – Highly Unlikely To Happen – In Any Given Moment – The More Moments You String Together – The More Likely They Become – And If You String Together Enough Moments – All But Inevitable

~ METAHPFTAASMOMS-MOTASLLTTW ~ Many Extremely Talented And Hardworking People Fail To Achieve Any Significant Measure Of Material Success – Many Of Them Are Simply Less Lucky Than The Winners

~ TITSASTMWWOBTAL-IHCA-MWNHEBRCHTNBB-EAAH ~ This Isn’t The Same As Saying That Most Winners Win Only Because They Are Lucky – In Highly Competitive Arenas – Most Would Not Have Even Been Realistic Contenders Had They Not Been Both – Extremely Able And Hardworking

~ TWAOPTATFTBLMBUTTKOFNTIFP ~ Those Who Are Overly Prone To Attribute Their Failures To Bad Luck May Be Unreceptive To The Kinds Of Feedback Needed To Improve Future Performance

~ TBOFB ~ The Burden Of False Beliefs

~ TIODOPLTTAO-THBBIAHDC-TLBOCOIIBTWCBU ~ There Is One Dimension Of Personal Luck That Transcends All Others – To Have Been Born In A Highly Developed Country – The Lucky Beneficiaries Of Centuries Of Intensive Investment By Those Who Came Before Us

~ IBBIAGEIOOTLTTCHTA-FTALIHMSPMRTPTTRTSTINTMAGE ~ If Being Born In A Good Environment Is One Of The Luckiest Things That Can Happen To Anyone – Failure To Appreciate Luck’s Importance Has Made Successful People More Reluctant To Pay The Taxes Required To Support The Investments Necessary To Maintain A Good Environment

~ TFTAADTBCEP-ORTARWP-STOCBBCARIFFO ~ The Fact That Americans Are Driving The Best Cars Ever Produced – On Roads That Are Riddled With Potholes – Suggests That Our Current Balance Between Cars And Roads Is Far From Optimal

~ PWFMHTAALTTWTAAGOTSA ~ People Will Fight Much Harder To Avoid A Loss Than They Would To Achieve A Gain Of The Same Amount

~ OCPOPAPSHBDC-NJFPAMIF-BAFTWT ~ Our Current Patterns Of Private And Public Spending Have Been Deeply Counterproductive – Not Just For Poor And Middle-Income Families – But Also For The Wealthy Themselves

~ EPIWAEPFTEPOTVSTP ~ Extensive Public Investment Was An Essential Precondition For The Economic Prosperity Of Those Very Same Tax Protesters

~ POSOCAAT ~ Public Opinion Shifts One Conversation At A Time

~ TRSBFTALPRISHMIHTSTPINTSTSOLATFG ~ Tax Resistance Spawned By Failure To Appreciate Luck’s Pivotal Role In Success Has Made It Harder To Sustain The Public Investment Needed To Support The Stock Of Luck Available To Future Generations

~ ATPIT-IFOAPCT-WPABOFAE ~ Abandoning The Progressive Income Tax – In Favor Of A Progressive Consumption Tax – Would Produce A Better Outcome For Almost Everyone

~ PWETAAAOTP-ANJHBOTF-TAMLTP-TIPBMOTBSSATE ~ People Who Enjoy The Admiration And Affection Of Their Peers – Are Not Just Happier Because Of That Fact – They’re Also More Likely To Prosper – That’s In Part Because Most Of The Biggest Economic Success Stories Are Team Efforts

~ IMBIYITALRIYS-IOBPWTBOYFHDS-ESTTWMYFH-TMFTOTBOYMAMYMLTPIPMT ~ It May Be In Your Interest To Acknowledge Luck’s Role In Your Success – If Only Because People Will Think Better Of You For Having Done So – Evidence Suggests That This Will Make You Feel Happier – The Mere Fact That Others Think Better Of You May Also Make You More Likely To Prosper In Purely Material Terms

~ TWHT-TASTSAEAFTBL-MBPAISC-BOB-IIOITEMRA ~ The Widespread Human Tendency – To Attribute Success To Skill And Effort And Failure To Bad Luck – May Be Psychologically Adaptive In Some Cases – But On Balance – It’s In Our Interest To Embrace More Realistic Attributions

~ CTPB-PWINOFMPTGW-BAFETC ~ Contrary To Popular Belief – Private Waste Is Not Only Far More Pervasive Than Government Waste – But Also Far Easier To Curtail

~ APBMRAOWRFCPOT-TCCFWSSOGABTFTF-A-TACSOOCAAT ~ Although Popular Beliefs May Remain At Odds With Reality For Considerable Periods Of Time –The Consensus Can Flip With Surprising Speed Once Good Arguments Begin To Find Their Footing – And – Those Arguments Can Spread Only One Conversation At At Time