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

MYTH #1:

~ TFGSBLAH ~ The Federal Government Should Budget Like A Household

REALITY:

~ DTOAH ~ Don’t Think Of A Household

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

MYTH #2

~ DAEOO ~ Deficits Are Evidence Of Overspending

REALITY

~ TOI ~ Think Of Inflation

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

MYTH #3

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

REALITY

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

~ TNDPNFBW ~ The National Debt Poses No Financial Burden Whatsoever

MYTH #4

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

REALITY

~ TRIIOBI ~ Their Red Ink Is Our Black Ink

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

MYTH #5

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

REALITY

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

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

REALITY

MYTH #6

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

REALITY

~ YE! ~ You’re Entitled!

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

STEPHANIE KELTON ~ THE DEFICIT MYTH ~ 2020

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

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

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

~ MMT ~ Modern Monetary Theory

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

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

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

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

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

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

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

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

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

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

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

~ DSITN ~ Deficit Spending Is The Norm

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

~ J-AAOP ~ Joblessness – Is An Official Policy

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

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

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

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

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

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

MIHALY CSIKSZENTMIHALYI ~ CREATIVITY ~ 1996

~ IIET-ECBCCITE-TB-TTMPTMC-A-AGCAIANTROASI-ALFOITD-B-CAYOHW ~ It Is Easier To – Enhance Creativity By Changing Conditions In The Environment – Than By – Trying To Make People Think More Creatively – And – A Genuinely Creative Accomplishment Is Almost Never The Result Of A Sudden Insight – A Lightbulb Flashing On In The Dark – But – Comes After Years Of Hard Work

~ MOTTTA-I-I-A-H-ATROC ~ Most Of The Things That Are – Interesting – Important – And – Human – Are The Results Of Creativity

~ C-WWAIII-WFTWALMFTDTROL ~ Creativity – When We Are Involved In It – We Feel That We Are Living More Fully Than During The Rest Of Life

~ AIALR-TIJSMIWCPAAGT-TACIAED-TMBSAA ~ Attention Is A Limited Resource – There Is Just So Much Information We Can Process At Any Given Time – To Achieve Creativity In An Existing Domain – There Must Be Surplus Attention Available

~ CGICTBOD ~ Creativity Generally Involves Crossing The Boundaries Of Domains

~ ITFOFCAA-ITMOAPITWORAE-TMTEICBIEE ~ If Too Few Opportunities For Curiosity Are Available – If Too Many Obstacles Are Placed In The Way Of Risk And Exploration – The Motivation To Engage In Creative Behavior Is Easily Extinguished

~ ITNGITFTFWZAS-C-WMETTB-O-AWA-C ~ If The Next Generation Is To Face The Future With Zest And Self-Confidence – We Must Educate Them To Be – Original – As Well As – Competent

~ TMIMWCLFCP:HTFPAEITCOE ~ The Most Important Message We Can Learn From Creative People: How To Find Purpose And Enjoyment In The Chaos Of Existence

~ CDNHIPH-B-ITIBAPTAASCC-IIA-S-RTA-I-P ~ Creativity Does Not Happen Inside People’s Heads – But – In The Interaction Between A Person’s Thoughts And A SocioCultural Context – It Is A – Systemic – Rather Than An – Individual – Phenomenon

~ A-L-C-A-POSRTOI ~ Accidents – Like – Creativity – Are – Properties Of Systems Rather Than Of Individuals

~ BITRPATRT-ICI-B-MPNRTTASIAPS-TC-A-EFKWTDWTRHT ~ Being In The Right Place At The Right Time – Is Clearly Important – But – Many People Never Realize That They Are Standing In A Propitious Space-Time Convergence – And – Even Fewer Know What To Do When The Realization Hits Them

~ WAGDO-C-W-A-I-I-WTALAIHTW-IIDTRAIP ~ Without A Good Dose Of – Curiosity – Wonder – And – Interest – In – What Things Are Like And In How They Work – It Is Difficult To Recognize An Interesting Problem

~ OTE-AFATCPEITE-IAGAF-RPN-ECPIMTAEWTT ~ Openness To Experience – A Fluid Attention That Constantly Processes Events In The Environment – Is A Great Advantage For – Recognizing Potential Novelty – Every Creative Person Is More Than Amply Endowed With These Traits

~ YCATMOCJBAACPS ~ You Cannot Assume The Mantle Of Creativity Just By Assuming A Certain Personality Style

~ CI-TTBS-YANATST ~ Creative Individuals – Tend To Be Smart – Yet Also Naive At The Same Time

~ APLAITOCI ~ A Playfully Light Attitude Is Typical Of Creative Individuals

~ CI-ABIAFAOE-A-ARSORATO ~ Creative Individuals – Alternate Between Imagination And Fantasy At One End – And – A Rooted Sense Of Reality At The Other

~ CI-AARHAPATST ~ Creative Individuals – Are Also Remarkably Humble And Proud At The Same Time

~ CI-TACE-E-RGRS ~ Creative Individuals – To A Certain Extent – Escape – Rigid Gender Role Stereotyping

~ G-CP-ATTB-RAI-YIIITBCWHFIADOC-A-APMBITIOSADIOTLIR;H-HOSMBTACEA-T-SIIDTSHAPCBCWBBTACAATST-RAI-BOTLTDU;CTCWRTWHBVITPRLTNTIAAAI ~ Generally – Creative People – Are Thought To Be – Rebellious And Independent – Yet Is Is Impossible To Be Creative Without Having First Internalized A Domain Of Culture – And – A Person Must Believe In The Importance Of Such A Domain In Order To Learn Its Rules; Hence – He Or She Must Be To A Certain Extent A – Traditionalist – So It Is Difficult To See How A Person Can Be Creative Without Being Both Traditional And Conservative And At The Same Time – Rebellious And Iconoclastic – Being Only Traditional Leaves The Domain Unchanged; Constantly Taking Chances Without Regard To What Has Been Valued In The Past Rarely Leads To Novelty That Is Accepted As An Improvement

~ M-CP-A-VPATW-Y-TCBEOAIAW ~ Most – Creative Persons – Are – Very Passionate About Their Work – Yet – They Can Be Extremely Objective About It As Well

~ B-U-I-TTCT-PM-TI-TTWHTLAHAAGSOPI ~ But – Usually – Insights – Tend To Come To – Prepared Minds – That Is – To Those Who Have Thought Long And Hard About A Given Set Of Problematic Issues

~ W-ABC-ALI-WAUTPLTMA-SNC-TKOIIROIIN-IIURIDF-IMETNSSOR ~ Without – A Burning Curiosity – A Lively Interest – We Are Unlikely To Persevere Long To Make A – Significant New Contribution – This Kind Of Interest Is Rarely Only Intellectual In Nature – It Is Usually Rooted In Deep Feelings – In Memorable Experiences That Need Some Sort Of Resolution

~ B-TAASIWNHATQY-NEKTTIAP ~ But – There Are Also Situations In Which Nobody Had Asked The Question Yet – Nobody Even Knows That There Is A Problem

~ WITKOTD-TCOTF-A-TBPOTWOMAO ~ We Internalize The Knowledge Of The Domain – The Concerns Of The Field – And – They Become Part Of The Way Our Minds Are Organized

~ WWSAIOSASTAIWW-WWMBSITNOTPWOMWAI ~ When We Sit Alone In Our Study And Say That An Idea Won’t Work – What We May Be Saying Is That None Of The People Whose Opinions Matter Will Accept It

~ CT-EITGFWT-HOTWIKAAWTTAS-I-DTTIBGOTOSOTC ~ Creative Thoughts – Evolve In This Gap Filled With Tension – Holding On To What Is Known And Accepted While Tending Toward A Still Ill-Defined Truth That Is Barely Glimpsed On The Other Side Of The Chasm

~ TCOG ~ The Clarity Of Goals

~ B-CAS-TMO-AAA ~ Balancing – Challenges And Skills – The Merging Of – Action And Awareness

~ CI-TTGTCOVA-WTWHTCOS ~ Creative Individuals – Tend To Gravitate Toward Centers Of Vital Activity – Where Their Work Has The Chance Of Succeeding

~ IE-U-TINE-A-PTNWB-TPTADSIC-Y-HAHTROICBHITCTOWAOOU ~ Inspiring Environments – Unfortunately – There Is No Evidence – And – Probably There Never Will Be – To Prove That A Delightful Setting Induces Creativity – Yet – Having A Home That Reinforces One’s Individuality Cannot But Help Increase The Chances That One Will Act Out One’s Uniqueness

~ WHT-PADI-A-HEC-IAETWHBTRO-WIIETFTOWACCOTTAH ~ What Helps To – Preserve And Develop Individuality – And – Hence Enhance Creativity – Is An Environment That We Have Built To Reflect Ourselves – Where It Is Easy To Forget The Outside World And Concentrate Completely On The Task At Hand

~ M-CI-FOEWTBRAF-S/E/W-A-ABT-EWIITTDO-A-WMINWOKTASOTAFS;WCITBMOOOT ~ Most – Creative Individuals – Find Out Early What Their Best Rhythms Are For – Sleeping / Eating / Working – And – Abide By Them – Even When It Is Tempting To Do Otherwise – Again – What Matters Is Not Whether One Keeps To A Strict Or To A Flexible Schedule; What Counts Is To Be Master Of One’s Own Time

~ BAP-INARF-LC-AMTUK-CAOS-ATB ~ Being A Prodigy – Is Not A Requirement For – Later Creativity – A More Than Usually Keen – Curiosity About One’s Surroundings – Appears To Be

~ TDT-B-IAD-TISCOECP ~ The – Dialectical Tension – Between – Involvement And Detachment – That Is So Characteristic Of Every Creative Process

~ P-IIT-AR-WIT-LAFOA-TG-TEO-UF ~ Paradoxically – It Is The – Abstract Rules – We Invent To – Limit And Focus Our Attention – That Give Us – The Experience Of – Untrammelled Freedom

~ CP-A-CS-TDATTUWIHAT-A-TDATAEDE ~ Creative People – Are – Constantly Surprised – They Don’t Assume That They Understand What Is Happening Around Them – And – They Don’t Assume That Anybody Else Does Either

SUN TZU ~ USING SPIES ~ THE ART OF WAR ~ 4??BCE ~ MICHEAL NYLAN [TRANSLATION]

~ L-TECIOE ~ Locals – The Enemy’s Compatriots In Our Employ

~ I-EOIOE ~ Insiders – Enemy Officials In Our Employ

~ DA-ESWRTOSAW ~ Double Agents – Enemy Spies Who Report To Our Side As Well

~ ‘D’-S-PIOEWWID-STTRFITTE ~ “Dead” – Spies – Pawns In Our Employ Whom We Intentionally Deceive – So That They Relay False Information To The Enemy

~ LA-BC-RBTU ~ Live Agents – By Contrast – Report Back To Us

DEIRDE MCCLOSKEY ~ BOURGEOIS DIGNITY ~ 2010

~ ECETMW ~ Economics Can’t Explain The Modern World

~ E(AU)TRTW ~ Ethical (And Unethical) Talk Runs The World

~ BR ~ Bourgeois Revaluation

~ LEH ~ Liberty Encourages Hope

~ DWYMT-EEDNETIC ~ Despite What You May Think – European Empires Did Not Enrich The Imperial Countries

~ SIAW-B-IINATSAW-A-ALLIADT ~ Science Is A Wonder – But – It Is Not Always The Same As Wisdom – And – A Little Learning Is A Dangerous Thing

~ MEG-HB-A/U/U-TGSIEH ~ Modern Economic Growth – Has Been – Astounding / Unprecedented / Unexpected – The Greatest Surprise In Economic History

~ N-TE-HFTNO-P-UCATMOM-BIEC-AWTAE-A-B-IIETDSAM ~ Nonetheless – The Economists – Have Favored The Notion Of – Piled-Up Capital As The Maker Of Modernity – Because It Emphasizes Cost – About Which They Are Expert – And – Because – It Is Easy To Describe Statistically And Mathematically

~ LOB ~ Lottery Of Birth

~ PP ~ Profitable Peregrinations

~ ST-IOP-GA-SOL-IA-IINE-A-TDCBD ~ Superior Technologies – In One Place – Get Adopted – Sooner Or Later – In Another – It Is Not Easy – And – The Delay Can Be Decades

~ TIN-AIITS-TETMW-TS-INPTT-AOI-TOP-DNITCOM ~ There Is No – Aggregate Increase In Thrifty Savings – To Explain The Modern World – Thrifty Saving – Is Not Peculiar To The – Age Of Innovation – Thrift Or Prudence – Did Not Increase In The Childhood Of Modernity

~ CINTC-NITLR-TCTMAICBEFOGBOITS-ITIOCOCANC ~ Capital Is Not The Constraint – Not In The Long Run – The Capital To Make An Innovation Can Be Extracted From Or Given By Others In The Society – If The Institutions Of Coercion Or Credit Are Not Clogged

~ ND-MI-HAU-‘G’-AI ~ Nor Does – Modern Innovation – Have Anything Unusually – “Greedy” – About It

~ S-ORNO-PAS-BA-R ~ Success – Ordinarily Requires Not Only – Pugnacity And Shrewdness – But Also – Restraint

~ LIL ~ Legally Infinite Lives

~ MEG-DN-A-DN-A-C-DOTSTBGB-SFPP-IINAGBP-INHB ~ Modern Economic Growth – Did Not – And – Does Not – And – Cannot – Depend On The Scraps To Be Gained By – Stealing From Poor People – It Is Not A Good Business Plan – It Never Has Been

~ I-WNBIA-SOE ~ Innovation – Was Not Born In A – Sin Of Expropriation

~ CDNAP ~ Crime Does Not Always Pay

~ WCAFTRORCBRTEOPP ~ We Cannot Account For The Riches Of Rich Countries By Reference To Exploitation Of Poor People

~ VT-W-FRP-AA-EOEPP-TOTBTBP ~ Voluntary Trading – With – Free Rich People – As Against – Exploitation Of Enslaved Poor People – Turns Out To Be The Better Plan

~ TF-O-T-WN-HYON ~ The Fall – Of – Tyrants – With Nine-Hundred Year Old Names

~ AGDOLAPAE-TPIT-DOI-A-TAOM ~ A Good Deal Of Life And Politics And Exchange – Takes Place In The – Damning Of Incentives – And – The Assertion Of Meaning

~ Y-MMIB-AMA-LIAM-O-CIAA-O-JIACOL ~ Yet – Meaning Matters In Business – As Much As – Love In A Marriage – Or – Courage In An Army – Or – Justice In A Court Of Law

~ SPOP-I-N-B-IHLTDW-FI-O-PL-BIHBECB ~ Secure Possession Of Property – Is – Necessary – But – It Had Little To Do With – Financial Innovations – Or – Political Liberty – Because It Had Been Established Centuries Before

~ WETMW-IN-I-B-I ~ What Explains The Modern World – Is Not – Investment – But – Innovation

~ PC-T-TDNADF-TCG ~ People Cooperate – Too – They Do Not Always Defect From – The Common Good

~ PWCUBMI ~ Patents Were Considered Undignified By Many Inventors

~ NANIAGO ~ Not All New Ideas Are Good Ones

~ HOTHAMAL-MTE ~ Habits Of The Heart And Mind And Lip – Matter To Economies

~ I-VA-IAC-ANCWM-BR-CAC ~ Institutions – Viewed As – Incentives And Constraints – Are Not Chiefly What Mattered – But Rather – Community And Conversation

~ L-IAT-S-W-MA-R-O-EG-TA-C ~ Like – Imperialism And Trade – Science – Was – More A – Result – Of – Economic Growth – Than A – Cause

~ TANSTAAFL (TANSTAAFL) ~ There Ain’t No Such Thing As A Free Lunch (TANSTAAFL)

~ ANRE-E-E ~ A New Rhetorical Environment – Encouraged – Entrepreneurs

~ IWW ~ It Was Words

~ S-TP-A-PCTHH-UF-T-EINEORE-TRTTAEHAAIP ~ Science – Though Proud – And – Persistently Claiming To Help Humankind – Usually Followed – Technology – Explaining In Neat Equations Or Rigorous Experiments – The Results That Tinkerers And Engineers Had Already Achieved In Practice

~ DAL-S-W ~ Dignity And Liberty – Still – Work

~ DAL-TGE ~ Dignity And Liberty – The Greatest Externalites

ANDREW NIKIFORUK ~ CHARLES ELTON ~ THREE QUESTIONS ~ PANDEMONIUM ~ 2006

~ HWTCATAAPTLHN? ~ How Will This Change Affect The Animals And Plants That Live Here Now?

~ WBASMBL? ~ What Beauty And Security May Be Lost?

~ HWTCA-‘TAIOC’ ~ How Will This Change Affect – “The Accumulating Instability Of Communities?”

ANTONIO DAMASIO ~ SELF COMES TO MIND ~ 2010

~ TIIA-S-B-IIAP-NAT-A-TPIPAATWWAPTBC ~ There Is Indeed A – Self – But – It Is A Process – Not A Thing – And – The Process Is Present At All Time Whens We Are Presumed To Be Conscious

~ T-M-M-T-S-A-O:ADCO-INP-COTROTLB-TFEIADCO-IMP ~ The – Material – Me – The – Self-As-Object: A Dynamic Collection Of – Integrated Neural Processes – Centered On The Representation Of The Living Body – That Finds Expression In A Dynamic Collection Of – Integrated Mental Processes

~ S-A-K/’I’ ~ Self-As-Knower / “I”

~ CINMA-IITM-II-ITVL-AAOOMCCOTOTPAMTC ~ Consciousness Is Not Merely About – Images In The Mind – It Is – In The Very Least – About An Organization Of Mind Contents Centered On The Organism That Produces And Motivates Those Contents

~ T-SAW-ITSETRTP-IEOU-O-EWCM ~ The – Self As Witness – Is The Something Extra That Reveals The Presence – In Each Of Us – Of – Events We Call Mental

~ IINSTTMATHANN ~ It Is Not Surprising That The Mind Appears To Have A Nonphysical Nature

~ OMMOOTAOSCKA-N-TASTCAT;TAE(AIPTSWMC)-TTAFPKAT-A-A-TTEROTAKAT-S-NCSSTOC-ON-MC ~ Organisms Make Minds Out Of The Activity Of Special Cells Known As – Neurons – They Are Sensitive To Changes Around Them; They Are Excitable (An Interesting Property They Share With Muscle Cells) – Thanks To A Fibrous Prolongation Known As The – Axon – And – To The End Region Of The Axon Known As The – Synapse – Neurons Can Send Signals To Other Cells – Other Neurons – Muscle Cells

~ TB-IAFO-TCM ~ The Body – Is A Foundation Of – The Conscious Mind

~ TFAMEPOT-P-I-PF-WOSACWOIA-TPADEOOOLB-W-U-A-CTNBSE-TPFRTCSOTB-AVD-FE-ATSTRFPTP-A-TOATLOT-BS-RTT-CC-A-FOE-A-C-V-O-PF ~ The First And Most Elementary Product Of The – Protoself – Is – Primordial Feelings – Which Occur Spontaneously And Continuously Whenever One Is Awake – They Provide A Direct Experience Of One’s Own Living Body – Wordless – Unadorned – And – Connected To Nothing But Sheer Existence – These Primordial Feelings Reflect The Current State Of The Body – Along Varied Dimensions – For Example – Along The Scale That Ranges From Pleasure To Pain – And – They Originate At The Level Of The – Brain Stem – Rather Than The – Cerebral Cortex – All – Feelings Of Emotion – Are – Complex – Variations – On – Primordial Feelings

~ CM-BW-SCTM-WBAA-SP-TTMM-MAFBQRL ~ Conscious Minds – Begin When – Self Comes To Mind – When Brains Add A – Self Process – To The Mind Mix – Modestly At First But Quite Robustly Later

~ T-S-IBIDSGOT-P-TFSITGO-PF-TEFOETSSFTP-NIT-CS-TCSIAA-S-AARBTOATO-TCSUIASOITDAOETPAMTP-IIPF-F-TIT-AS-TSIDITOBKPTTPAWATAF ~ The – Self – Is Built In Distinct Steps Grounded On The – Protoself – The First Step Is The Generation Of – Primordial Feelings – The Elementary Feelings Of Existence That Spring Spontaneously From The Protoself – Next Is The – Core Self – The Core Self Is About Action – Specifically – About A Relationship Between The Organism And The Object – The Core Self Unfolds In A Sequence Of Images That Describe An Object Engaging The Protoself And Modifying That Protoself – Including Its Primordial Feelings – Finally – There Is The – Autobiographical Self – This Self Is Defined In Terms Of Biographical Knowledge Pertaining To The Past As Well As The Anticipate Future

~ NSM ECITB-NS-D/R/F/T-MAN ~ No Single Mechanism Explains Consciousness In The Brain – No Single – Device / Region / Feature / Trick – Many Are Needed

~ BV-NGAC-STS-ETHIO-VM-VC-B-BVHTSOAP ~ Biological Value – Naturally Guides And Colors – So To Speak – Everything That Happens Inside Our – Very Minded – Very Conscious – Brains – Biological Value Has The Status Of A Principle

~ IB-T-CM-EWTHO-LR-H ~ In Brief – The – Conscious Mind – Emerges Within The History Of – Life Regulation – Homeostasis

~ OMG-CD-LTCITG ~ Over Multiple Generations – Cultural Developments – Lead To Changes In The Genome

~ CCIBBO-BV-AACTME-VM ~ Consciousness Came Into Being Because Of – Biological Value – As A Contributor To More Effective – Value Management

~ TNT-HUCMTA-UMP-IHN-NP-TARTML-CEWTCP ~ The Notion That – Hidden Underneath Conscious Minds There Are – Unconscious Mind Processes – Is Hardly News – Nonconscious Processes – That Are Relevant To Maintaining Life – Can Exist Without Their Conscious Partners

~ NLM-CTBFAAIO-CM ~ Nonconscious Life Management – Constitutes The Blueprint For Attitudes And Intentions Of – Conscious Minds

~ N-AU-TEFD-TNATP-ES-COCTSOOC-NDNIES-B-NUTSTIOC-N-ON-EC -AMF-CTSOOC-TVSOTATCARB ~ Neurons – Are Unique – The Essential Functional Difference – The Neuron’s Ability To Produce – Electrochemical Signals – Capable Of Changing The State Of Other Cells – Neurons Did Not Invent Electrical Signals – But – Neurons Use Their Signals To Influence Other Cells – Namely – Other Neurons – Endocrine Cells – And – Muscle Fiber – Changing The State Of Other Cells – The Very Source Of The Activity That Constitutes And Regulates Behavior

~ TDB-ROTB ~ The Deep Body-Relatedness Of The Brain

~ L-RTTBMACOPRAACFLDOCIIDI-TMRIKA-H-A-TPOATBSIC-H-HBU-W-C-M-O-B ~ Life – Requires That The Body Maintain A Collection Of Parameter Ranges At All Costs For Literally Dozens Of Components In Its Dynamic Interior – The Magic Range Is Known As – Homeostatic – And – The Process Of Achieving This Balanced State Is Called – Homeostasis – Homeostasis Began Unknowingly – Without – Consciousness – Mind – Or – Brain

~ THR:OR-ETITCM-A-PF;DR-A-N-S-POEPF ~ The Homeostatic Range: Optimal Ranges – Express Themselves In The Conscious Mind – As – Pleasurable Feelings; Dangerous Ranges – As – Not-So-Pleasant Or Even Painful Feelings

~ C-HIAAATBTCNSTTPOLAS ~ Consciousness – Has Improved Adaptability And Allowed The Beneficiaries To Create Novel Solutions To The Problems Of Life And Survival

~ CEHTRTLOLRBMOACOCI-EE-RB-SC-ER-L-A-S-T ~ Consciousness Enabled Humans To Repeat The Leitmotif Of Life Regulation By Means Of A Collection Of Cultural Instruments – Economic Exchange – Religious Beliefs – Social Conventions – Ethical Rules – Laws – Arts – Science – Technology

~ TDFOBSATOWO-ITUATCM ~ The Distinctive Feature Of Brains Such As The One We Own – Is Their Uncanny Ability To Create Maps

~ T-LB-IT-CL-LR-IT-NATM-BM-IT-E-TE-TTP-LR-I-MR-A-EI-CMR ~ The – Living Body – Is The – Central Locus – Life Regulation – Is The – Need And The Motivation – Brain Mapping – Is The – Enabler – The Engine – That Transforms Plain – Life Regulation – Into – Minded Regulation – And – Eventually Into – Consciously Minded Regulation

~ OMAP-ITFSOTT-B-OPHAB-PFMIAM-AOTTO-WPBE-RTBPR ~ Our Memories Are Prejudiced – In The Full Sense Of The Term – By – Our Past History And Beliefs – Perfectly Faithful Memory Is A Myth – Applicable Only To Trivial Objects – We Perceive By Engagement – Rather Than By Passive Receptivity

~ TSIIAMF ~ The Self Is Indeed A Movable Feast

~ WDCP-OPA-G/O/O-IOTB-A-OTOW-ITOTON-ITLO-ELM-A-CIT-COS ~ Why Did Consciousness Prevail – One Possible Answer – Generating / Orienting / Organizing – Images Of The Body – And – Of The Outside World – In Terms Of The Organism’s Needs – Increased The Likelihood Of – Efficient Life Management – And – Consequently Improved The – Chances Of Survival

~ ECATPOKATOEAAISTSA-OC-KDNJOTCADOEI-B-OTSIIR-KC-TSOE-WA-UIO ~ Eventually Consciousness Added The Possibility Of Knowing About The Organism’s Existence And About Its Struggles To Stay Alive – Of Course – Knowing Depended Not Just On The Creation And Display Of Explicit Images – But – On Their Storage In Implicit Records – Knowing Connected – The Struggles Of Existence – With A – Unified Identifiable Organism

~ TAS ~ The Autobiographical Self

~ TAF-RAFITHOL-DOHMTCTTSOL-C-C-S-A-C-IHF-ISTBHTS ~ Traits And Functions – Rise And Fall In The History Of Life – Depending On How Much They Contribute To The Success Of Living – Consciousness – Came – Saw – And – Conquered – It Has Flourished – It Seems To Be Here To Stay

~ TPO-CD-ASLBALAO-NB-SBS-SCA-WTWAIC-B-OAN ~ The Products Of – Conscious Deliberation – Are Significantly Limited By A Large Array Of – Nonconscious Biases – Some Biologically Set – Some Culturally Acquired – We Think We Are In Control – But – Often Are Not

~ BACATI ~ Biology And Culture Are Thoroughly Interactive

BARBARA EHRENREICH ~ THE WHITE-COLLAR UNEMPLOYED ~ BAIT AND SWITCH ~ 2005

~ O-W-C-OG-D/L/T/CP-HDBACOS-AAS-FT-T-PS-UITETW-W-P-TEOSBTTO-BUBT-FOL-SOATFPAB-U-TDTA-AAA-E ~ Other – White-Collar – Occupational Groups – Doctors / Lawyers / Teachers / College Professors – Have Done Better At Carving Out Some – Autonomy And Security – For Themselves – Their – Principle Strategy – Undertaken In The Early Twentieth Century – Was – Professionalization – The Erection Of Steep Barriers To The Occupation – Backed Up By The – Force Of Law – Some Occupations Added The Further Protection Afforded By – Unions – To Defend Themselves Against – Arbitrary And Autocratic – Employers

~ TFO-W-CW-T-BT-A-D-TJ-A-TPA-IUATT-I-O-TA-UFIT-MC-OOC ~ The Failure Of – White-Collar Corporate Workers – To – Band Together – And – Defend – Their Jobs – And – Their Professional Autonomy – Is Usually Attributed To Their – Individualism – Or – To An – Unwarranted Faith In The – Meritocratic Claims – Of Our Culture

~ WSTW-CWA-A-LTSV-I-TRTTI-AAU-W-TE ~ What Sets The White-Collar Workers Apart – And – Leaves Them So Vulnerable – Is – The Requirement That They Identify – Absolutely And Unreservedly – With – Their Employers

~ TW-CF-IETE-TF-TTCOOT-‘C-S’ ~ The – White-Collar Functionary – Is Expected To Express – Total Fealty – To The Current Occupants Of The – “C-Suites”

~ TCEOMBAF;TCBMBBC-A-SYARTSUAWTSQ-U-ATLNOL-OW-CWS-TLINRR ~ The CEO May Be A Fool; The Company’s Behavior May Be Borderline Criminal – And – Still You Are Required To Serve Unstintingly And Without The Slightest Question – Unfortunately – As The Large Numbers Of Laid-Off White-Collar Workers Show – This Loyalty Is Not Reliably Reciprocated

~ NGIBS-O-P-BM-TL-TDOTMC-T-TU-ATTC-RTCI-A-BTAAA-PF ~ No Group Is Better Situated – Or – Perhaps – Better Motivated – To Lead – The Defense Of The Middle Class – Than – The Unemployed – Assuming That They Could – Recognize Their Common Interests – And – Begin To Act As A – Political Force

~ T-W-CU-TPW-‘PBTR’-DER-A-SEUIR ~ The – White-Collar Unemployed – The People Who – “Played By The Rules” – Did Everything Right – And – Still Ended Up In Ruin

~ C:TCTCTAWFC-EITFOOO ~ Courage: The Courage To Come Together And Work For Change – Even In The Face Of Overwhelming Odds

DAVID ORRELL ~ APOLLO’S ARROW ~ 2007

~ FHAAFACM ~ Forecasting Has Always Attracted Fraudsters And Con Men

~ WABATTFNNRTRP-TCS-I-W/H/W-MBMITTKWHGUT ~ We Are Becoming Aware That The Future Need Not Resemble The Recent Past – The Coming Storms – In – Weather / Health / Wealth – May Be More Intense Than The Kind We Have Grown Used To

~ A-ST-IGCVOIICBUT-PTBOAS-ATTDP-MBABOEI-B-INMF-TAPOMA ~ A – Scientific Theory – Is Generally Considered Valid Only If It Can Be Used To – Predict The Behaviour Of A System – A Theory That Doesn’t Predict – May Be A Beautiful Or Elegant Idea – But – It’s No More Functional – Than A Piece Of Modern Art

~ LT-HPTEP ~ Living Things – Have Properties That Elude Prediction

~ FHALPC-TDT-ETW-ITO-S-C-A-E-R ~ Forecasting Has A Large Psychological Component – The Desire To – Explain The World – In Terms Of – Simple – Cause-And-Effect – Relationships

~ AP-A-OI ~ Accurate Predictions – Are – Often Ignored

~ IA-D-C-W-APCSSBTNAA ~ In A – Dangerous – Chaotic – World – Any Predictions Can Sometimes Seem Better Than None At All

~ TNTSF-OAP0STBAFCOHB ~ The Need To Search For – Order And Pattern – Seems To Be A Fundamental Characteristic Of Human Beings

~ POAR-LTHCOWGW-A-OOTBWTDTITUA-SL

~ Priest Of Any Religion – Like To Have Control Over What Gets Written – And – One Of The Best Ways To Do This Is To Use A – Specialized Language

~ TAMWTDACLTASO ~ There Are More Ways To Draw A Crooked Line Than A Straight One

~ TMRWTGFFASP-IS-TST-IHA-MA ~ The Most Reliable Way To Get Funding For A – Scientific Project – Is Still – To Show That – It Has A – Military Application

~ TPIT-TFNDQCTP ~ The Problem Is That – The Future Never Does Quite Copy The Past

~ IIIT-M-NBCW-FR-R ~ It Is Important That – Models – Not Be Confused With – Far Richer – Reality

~ MDABCDNNH-AMDOGDR-BTNOUPE ~ More Data And Bigger Computers Do Not Necessarily Help – Adding More Detail Often Gives Diminishing Returns – Because The Number Of Unknown Parameters Explodes

~ WCMT-TOAL-TWWCT-AOAPATS ~ We Cannot Model The – Trajectory Of A Life – The Way We Can The – Arc Of A Planet Across The Sky

~ PMASEORAA ~ Perhaps Markets Aren’t So Efficient Or Rational After All

~ PINAGP-A-CSM-WT-CAOUE-O-AABC-A-U ~ Pollution Is Now A Global Problem – And – Chemically Synthesized Molecules – With Their – Complex And Often Unknown Effects – On – Atmospheric And Biological Chemistry – Are – Ubiquitous

~ WANST-TIC-OG-O-TEM ~ We Are Not Slaves To – The Initial Condition – Our Genes – Or – The Efficient Market

~ COEFASOU ~ Creativity Often Emerges From A State Of Uncertainty

MICHIKO KAKUTANI ~ THE DEATH OF TRUTH ~ 2018

~ DFF/DORBE/TCOL-A-DTVVOT ~ Disregard For Facts / Displacement Of Reason By Emotion / The Corrosion Of Language – Are – Diminishing The Very Value Of Truth

~ SIUA-ASI-EOES ~ Science Is Under Attack – And So Is – Expertise Of Every Sort

~ AW-E-R-IQ-TWS-OW ~ And When – Experts – Raised – Inconvenient Questions – They Were Sidelined – Or Worse

~ TC-OOL ~ The Co-Opting Of Language

~ AHMOU-A-SE-A-U-B-TMBJBTIBTSOOV ~ A Huge Majority Of Us – Assume – Search Engines – Are – Unbiased – But – That May Be Just Because They’re Increasingly Biased To Share Our Own Views

~ SM-GUITTCOVOTW-PLI-IN-C-S-A-CS-WGOT ~ Social Media – Gives Us Information That Tends To Confirm Our View Of The World – People Live In – Increasingly Narrow – Content – Silos – And – Correspondingly Smaller – Walled Gardens Of Thought

~ MAD-I-B-TG-TT-OPATW ~ Misinformation And Disinformation – Is – Becoming – The – Go-To Tactic – Of Propagandists Around The World

~ TSOTT ~ The Schadenfreude Of The Trolls

~ WT-T-B-T-F-B-PLPFTCO2008-MWPWSTTMULG ~ While The – Too-Big-To-Fail – Banks – Paid Little Price For The Crash Of 2008 – Many Working People Were Still Trying To Make Up Lost Ground