Rational Society

In the spring of 2000, I began a three-year stint on Citigroup's corporate-derivatives team. I was just months past my twentieth birthday, with no work experience to speak of, in a world beyond my imagination. As my boss summed me up after a day of interviews, I was "fucking unpolished." The credit-derivatives group, then just three or four people I sat next to, soon spawned an ever-expanding team managing ever-more complex creations: credit-default swaps, collateralized debt obligations, and the myriad other structures built with black boxes and shrouded by acronyms. Meanwhile, my group continued to peddle mostly the forbears of these recent menaces, the more mundane interest-rate swaps and Treasury-rate locks. The newer derivatives, though hardly identical to their predecessors, nonetheless evolved in similar environments, were likewise designed to manipulate risk, and were also customized on a trade-by-trade basis. Our clients were non-financial corporations, the Deltas and Verizons of the world, which relied on us for advice and education. Our directive was "to help companies decrease and manage their risks." Often we did just that. And often we advised clients to execute trades solely because they presented opportunities for us to profit. In either case, whenever possible we used our superior knowledge to manipulate the pricing of the trade in our favor.

New global research on equality, inequality, and the happiness of nations. It's an American issue.

Set your heart on an MBA? Philip Delves Broughton suggests a radical alternative: don't bother 

How has a tiny fraction of the population arranged for their narrowest economic interests to dominate those of the vast majority?

Thinkers explore whether there are workarounds for cognitive traits that may be holding back human progress.

The scientific community has long agreed that our dependence on fossil fuels inflicts massive damage on the environment and our health, while warming the globe in the process. But beyond the damage these fuels cause to us now, what will happen when the world's supply of oil runs out? In a new video series from The Nation magazine and On The Earth Productions, Bill McKibben, Noam Chomsky, Nicole Foss, Richard Heinberg and other scientists, researchers and writers explain. Visit TheNation.com for more videos in this series.

Think tank "scholars" are lavishly funded to defend elite prerogatives

Dolphins have been declared the world's second most intelligent creatures after humans, with scientists suggesting they are so bright that they should be treated as "non-human persons".

Power does not rest with the electorate. It does not reside with either of the two major political parties. It is not represented by the press. It is not arbitrated by a judiciary that protects us from predators. Power rests with corporations. And corporations gain very lucrative profits from war, even wars we have no chance of winning. All polite appeals to the formal systems of power will not end the wars in Iraq and Afghanistan. We must physically obstruct the war machine or accept a role as its accomplice. 

We can have the kind of economy, government, environment, and country we want, if we keep pushing, organizing, building, and otherwise doing the work of democracy.

For the third time in the last 20 years, establishment voices with high-profile slots in traditional media are trying to convince the public to accept cuts to Social Security by endlessly claiming such cuts are necessary, without giving coherent evidence to justify the claim. Twice, under former presidents Clinton and George W. Bush, these voices were defeated - but they didn't give up. And now they are in striking distance of their goal: the fact that Republicans have taken over the House, combined with the fact that the president appointed a deficit reduction commission which nearly recommended a cut in Social Security benefits - and might well have done so if Representative Schakowsky hadn't worked to undermine the co-chairs' plan - means that one can't be complacent; some reports have suggested that the president may indicate support for cuts to Social Security in his State of the Union speech. Of the two principal Washington political actors who will shape the outcome - the Republican leadership and the president's team - one is a determined adversary of the public interest, the other a very uncertain ally. The most successful anti-poverty program in US history is again in grave danger.

ScienceDaily (Jan. 5, 2011) - Encouraging new evidence suggests that the bulk of the world's fisheries -- including small-scale, often non-industrialized fisheries on which millions of people depend for food -- could be sustained using community-based co-management.

December 9th, 02005 - Sam Harris"The View From The End Of The World"This is an audio only presentation. This talk took place in the Conference Center Golden Gate Room, San Francisco. Quote: With gentle demeanor and tight argument, Sam Harris carried an overflow audience into the core of one of the crucial issues of our time: What makes some religions lethal? How do they employ aggressive irrationality to justify threatening and controlling non-believers as well as believers? What should be our response? Harris began with Christianity. In the US, Christians use irrational arguments about a soul in the 150 cells of a 3-day old human embryo to block stem cell research that might alleviate the suffering of millions. In Africa, Catholic doctrine uses tortured logic to actively discourage the use of condoms in countries ravaged by AIDS. "This is genocidal stupidity," Harris said. Faith trumps rational argument. Common-sense ethical intuition is blinded by religious metaphysics. In the US, 22% of the population are CERTAIN that Jesus is coming back in the next 50 years, and another 22% think that it's likely. The good news of Christ's return, though, can only occur following desperately bad news. Mushroom clouds would be welcomed. "End time thinking," Harris said, "is fundamentally hostile to creating a sustainable future." Harris was particularly critical of religious moderates who give cover to the fundamentalists by not challenging them. The moderates say that all is justified because religion gives people meaning in their life. "But what would they say to a guy who believes there's a diamond the size of a refrigerator buried in his backyard? The guy digs out there every Sunday with his family, cherishing the meaningthe quest gives them." "I've read the books," Harris said. "God is not a moderate." The Bible gives strict instructions to kill various kinds of sinners, and their relatives, and on occasion their entire towns. Yet slavery is challenged nowhere in the New or

To know what the most important virtue of our age is we need to have at least a basic understanding of our age. Our era is becoming increasingly characterized by uncertainty. Fortunately or unfortunately, more than a cursory elucidation of our situation is beyond the scope of this essay. There are geopolitical, economic, technological and environmental trends worth mentioning. When the more philosophical portion of this  discourse arrives I will argue that the virtue of wisdom underlies the meaningfulness and efficacy of all other virtues, and this in broad strokes is primarily due to (1) the aforementioned instability in our surroundings ; (2) the relationship between the deontological and virtue; and (3) the nature of agency itself.  Whether uncertainty itself can provide an ethical foundation for us to elaborate on will be a separate question, and finally I speculate on where wisdom leads us in the context of a philosophy that is politically active and not doomed to irrelevance to and by the larger population.

http://www.ted.com Behavioral economist Dan Ariely, the author of Predictably Irrational, uses classic visual illusions and his own counterintuitive (and sometimes shocking) research findings to show how we're not as rational as we think when we make decisions.