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" Fearless commentary on finance, economics, politics and power Follow yvessmith on Twitter Feedburner RSS Feed RSS Feed for Comments Subscribe via Email SUBSCRIBE Recent Items Links 3/11/17 - 03/11/2017 - Yves Smith Deutsche Bank Tries to Stay Alive - 03/11/2017 - Yves Smith John Helmer: Australian Government Trips Up Ukrainian Court Claim of MH17 as Terrorism - 03/11/2017 - Yves Smith 2:00PM Water Cooler 3/10/2017 - 03/10/2017 - Lambert Strether Why a 400-Year Program of Modernist Thinking is Exploding - 03/10/2017 - Yves Smith Links 3/10/17 - 03/10/2017 - Yves Smith Why It Will Take a Lot More Than a Smartphone to Get the Sharing Economy Started - 03/10/2017 - Yves Smith CalPERS' General Counsel Railroads Board on Fiduciary Counsel Selection - 03/10/2017 - Yves Smith Another Somalian Famine - 03/10/2017 - Yves Smith Trade now with TradeStation - Highest rated for frequent traders Why a 400-Year Program of Modernist Thinking is Exploding Posted on March 10, 2017 by Yves Smith By Lynn Parramore, Senior Research Analyst at the Institute for New Economic Thinking. Originally published at the Institute for New Economic Thinking website Across the globe, a collective freak-out spanning the whole political system is picking up steam with every new "surprise" election, rush of tormented souls across borders, and tweet from the star of America's great unreality show, Donald Trump. But what exactly is the force that seems to be pushing us towards Armageddon? Is it capitalism gone wild? Globalization? Political corruption? Techno-nightmares? Rajani Kanth, a political economist, social thinker, and poet, goes beyond any of these explanations for the answer. In his view, what's throwing most of us off kilter - whether we think of ourselves as on the left or right, capitalist or socialist -was birthed 400 years ago during the period of the Enlightenment. It's a set of assumptions, a particular way of looking at the world that pushed out previous modes o

"How the 'emotional contagion' of memes makes them the internet's moral conscience By Allie Volpe Aug 27, 2018, 11:30am EDT Illustration by Alex Castro & Keegan Larwin SHARE Newly single, Jason Donahoe was perusing Tinder for the first time since it started integrating users' Instagram feeds. Suddenly, he had an idea: follow the Instagram accounts of some of the women he'd been interested in but didn't match with on the dating service. A few days later, he considered taking it a step further and direct messaging one of the women on Instagram. After all, the new interface of the dating app seemed to encourage users to explore other areas of potential matches' online lives, so why not take the initiative to reach out? Before he had a chance, however, he came across the profile of another woman whose Tinder photo spread featured a meme with Parks and Recreation character Jean-Ralphio Saperstein (Ben Schwartz) leaning into the face of Ben Wyatt (Adam Scott) with the caption: hey I saw you on Tinder but we didn't match so I found your Instagram you're so beautiful you don't need to wear all that makeup ahah I bet you get a lot of creepy dm's but I'm not like all those other guys message me back beautiful btw what's your snap "I was like, 'Oh shit, wow,'" Donahoe says. Seeing his potential jerk move laid out so plainly as a neatly generalized joke, he saw it in a new light. "I knew a) to be aware of that, and b) to cut that shit out … It prompted self-reflection on my part." THE MOST SUCCESSFUL MEMES STRIKE A CULTURAL CHORD AND CAN GUIDE AND EVEN INFLUENCE BEHAVIOR Donahoe says memes have resonated with him particularly when they depict a "worse, extreme version" of himself. For Donahoe, the most successful memes are more than just jokes. They "strike a societal, cultural chord" and can be a potent cocktail for self-reflection as tools that can guide and even influence behavior. In the months leading up to the 2016 US

"This work presents the first compressive and independent analysis of the contributions of one of the most important public officials in American history.  As a graduate student more than a decade ago, I began to investigate the role that Marriner S. Eccles played during the 1930s, as both a special assistant to the secretary of the Treasury and as the chairman of the Federal Reserve Board of Governors. I was intrigued that Eccles, as a Republican businessman from Utah-and yes a Mormon-became the New Deal's most forceful advocate of Keynesian policy.  Since that time I have come to learn far more about his participation in those years, and, indeed, a good deal more about the vexed political and economic milieu in which his career as a public servant unfolded.  Although this work is clearly intended to amplify the contributions that Eccles made in important policy areas, it also seeks to correct some inaccuracies that have frequently been conveyed about the details of his participation. Moreover, his fiscal and monetary interests were so extensive that it would not be too far afield to view what follows as a history of the New Deal with Eccles as the focal point."

The COVID-19 pandemic has underscored the critical need for robust scientific evidence to support policy decisions, such as around the effectiveness of various social distancing measures and the safety of drug therapies. Yet this need arises at a time of growing misinformation and poorly vetted facts repeated by influential sources. To address this gap, a group of scientists led by Kai Ruggeri, a professor at Columbia University Mailman School of Public Health, and James Green, chief scientist at NASA, has introduced a new framework to help set standards for the quality of evidence used in policymaking.

" The inequitable distribution of wealth, political knowledge, and free time in the United States gives wealthy individuals and corporations a leg up on ordinary Americans in the fight to influence public policy. But ordinary Americans have strength in numbers. And as DFP's polling suggests, there are no small number of progressive economic policies that a large majority of working people (from a wide array of regions, religious backgrounds, and ethnic groups) are ready to rally around. The trick is building institutions - and cultivating political leaders - that are willing and able to get that rally started."

"he premise is that everyone should be entitled to a good job, one that pays at least $15 an hour and comes with benefits such as health care, family leave policies and child care. The program would be administered at a local level, with federal funding, and jobs would be fitted to people, not the other way around. The aim "is not to change the worker in some fundamental way," said Stephanie Kelton, a professor of public policy and economics at Stony Brook University and formerly a senior advisor to Sanders. "You take the worker the way they are and you fit the job to the worker.""

"The current paradigm of independent, inflation targeting central banks thus obscures the messy history of central banks as public institutions. Since their inception, monetary authorities have performed various different roles; while they served as guardians of price stability in Victorian England, they have originally served as developmental and fiscal agents for expansionary states, and have frequently continued to do so in the centuries since. Treating central bank independence as an ahistorical best practice approach is misleading, and we should recall that there have been alternatives to the current framework. As some have heralded the end of the era of central bank independence, while others have underscored the benefits of re-politicizing monetary policy, it is worth bearing this history in mind."

Please use the sharing tools found via the share button at the top or side of articles. Copying articles to share with others is a breach of FT.com T&Cs and Copyright Policy. Email licensing@ft.com to buy additional rights. Subscribers may share up to 10 or 20 articles per month using the gift article service. More information can be found at https://www.ft.com/tour. https://www.ft.com/content/00017d02-5f39-11ea-b0ab-339c2307bcd4?sharetype=blocked Public health officials and academics are concerned that a mix of high numbers of uninsured people, a lack of paid sick leave and a political class that has downplayed the threat could mean it spreads more quickly than in other countries.

"My long-term vision for a better rural farm policy in the future would include new wildlife corridors, agroforestry, walking paths and bike trails, natural prairies, restored wetlands, and a return to naturalized rivers. This would require returning some private land back to public land, of retiring a percentage of today's Midwestern farmland. These things would support wildlife, outdoors activities, and provide greater tourism opportunities in the Midwest. These things would protect the soil, water, and help with biodiversity compared to what it is today. They would also help to enhance the quality of life for those who are living in the Midwest and they would entice others to move there for new opportunities. And, more kids could grow up doing the outdoor activities that I did."

So many of us, including me, have been focused on the failure of the federal response to Covid-19, watching President Trump's catastrophe-by-public-policy roll out day after day since late February. I've written a lot about it in these pages. In a misplaced triumphalism, some people in states that have managed to have a relatively quiet summer with low rates of Covid-19 cases have chastised those in states with renewed outbreaks as being foolish or unheeding of scientific advice, as governors still slow-walk the response to the disease and ordinary people shun masks and flock to social gatherings. We all like to think of ourselves as different, doing the right thing, doing our part.