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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

"Prosociality is endemic. In a common experiment called the social dilemma, anonymous subjects choose between a "defection" strategy that maximizes their own personal payoffs, and a "cooperation" strategy that gains them slightly less, but gives other members of the group substantially more. Up to 97% of subjects choose cooperation in some social dilemmas. Not surprisingly, researchers have found that the incidence of such prosocial behaviors declines as the personal cost of acting prosocially rises. We are more likely to be nice when it only takes a little, not a lot, of skin off our noses. But the scientific evidence demonstrates the vast majority of people will make at least small sacrifices to follow their conscience and help others."

"As readers know, I'm very dubious about assigning agency to generational cohorts like "Millennials," or "Boomers." Where, after all, are their offices on K Street? And if the Powers That Be need to find enough "Millennials" willing to help them continue their project of world domination, that they will do. However, it does seem that the the series of military debacles following the invasion of Iraq has dented our sense of American Exceptionalism, and has begun to shape public opinion - for the better, so far as I am concerned. A cautionary note would be "Millennial" support for globalization (which has, after all, brought us the iPhone, along with the figure of the selfie-taking backpacker). If I were a nimble 1%-er, I'd be perfectly happy to discard American Exceptionalism as an ideology, as long as I could control the global supply chain (and had a high-altitude, remote pied-a-terre from which to manage the free movement of my capital)."

"With the political-economic road to an ecological civilization seemingly blocked for now, too many of our allies are following detour signs toward dubious industrial and post-industrial fixes."

"With each interaction, Alexa is training to hear better, to interpret more precisely, to trigger actions that map to the user's commands more accurately, and to build a more complete model of their preferences, habits and desires. What is required to make this possible? Put simply: each small moment of convenience - be it answering a question, turning on a light, or playing a song - requires a vast planetary network, fueled by the extraction of non-renewable materials, labor, and data. The scale of resources required is many magnitudes greater than the energy and labor it would take a human to operate a household appliance or flick a switch. A full accounting for these costs is almost impossible, but it is increasingly important that we grasp the scale and scope if we are to understand and govern the technical infrastructures that thread through our lives. III The Salar, the world's largest flat surface, is located in southwest Bolivia at an altitude of 3,656 meters above sea level. It is a high plateau, covered by a few meters of salt crust which are exceptionally rich in lithium, containing 50% to 70% of the world's lithium reserves. 4 The Salar, alongside the neighboring Atacama regions in Chile and Argentina, are major sites for lithium extraction. This soft, silvery metal is currently used to power mobile connected devices, as a crucial material used for the production of lithium-Ion batteries. It is known as 'grey gold.' Smartphone batteries, for example, usually have less than eight grams of this material. 5 Each Tesla car needs approximately seven kilograms of lithium for its battery pack. 6 All these batteries have a limited lifespan, and once consumed they are thrown away as waste. Amazon reminds users that they cannot open up and repair their Echo, because this will void the warranty. The Amazon Echo is wall-powered, and also has a mobile battery base. This also has a limited lifespan and then must be thrown away as waste. According to the Ay

"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."

Physicists who think carefully about time point to troubles posed by quantum mechanics, the laws describing the probabilistic behavior of particles. At the quantum scale, irreversible changes occur that distinguish the past from the future: A particle maintains simultaneous quantum states until you measure it, at which point the particle adopts one of the states. Mysteriously, individual measurement outcomes are random and unpredictable, even as particle behavior collectively follows statistical patterns. This apparent inconsistency between the nature of time in quantum mechanics and the way it functions in relativity has created uncertainty and confusion.