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agents will open up many more learning opportunities.

Already, AI can help you pick out a new TV and recommend movies, books, shows, and podcasts. Likewise, a company I’ve invested in, recently launched Pix, which lets you ask questions (“Which Robert Redford movies would I like and where can I watch them?”) and then makes recommendations based on what you’ve liked in the past

Productivity

copilots can do a lot—such as turn a written document into a slide deck, answer questions about a spreadsheet using natural language, and summarize email threads while representing each person’s point of view.

before the sophisticated agents I’m describing become a reality, we need to confront a number of questions about the technology and how we’ll use it.

Helping patients and healthcare workers will be especially beneficial for people in poor countries, where many never get to see a doctor at all.

To create a new app or service, you won’t need to know how to write code or do graphic design. You’ll just tell your agent what you want. It will be able to write the code, design the look and feel of the app, create a logo, and publish the app to an online store

Agents will do even more. Having one will be like having a person dedicated to helping you with various tasks and doing them independently if you want. If you have an idea for a business, an agent will help you write up a business plan, create a presentation for it, and even generate images of what your product might look like

For decades, I’ve been excited about all the ways that software would make teachers’ jobs easier and help students learn. It won’t replace teachers, but it will supplement their work—personalizing the work for students and liberating teachers from paperwork and other tasks so they can spend more time on the most important parts of the job.

Mental health care is another example of a service that agents will make available to virtually everyone. Today, weekly therapy sessions seem like a luxury. But there is a lot of unmet need, and many people who could benefit from therapy don’t have access to it.

I don’t think any single company will dominate the agents business--there will be many different AI engines available.

The real shift will come when agents can help patients do basic triage, get advice about how to deal with health problems, and decide whether they need to seek treatment.

They’ll replace word processors, spreadsheets, and other productivity apps.

Education

For example, few families can pay for a tutor who works one-on-one with a student to supplement their classroom work. If agents can capture what makes a tutor effective, they’ll unlock this supplemental instruction for everyone who wants it. If a tutoring agent knows that a kid likes Minecraft and Taylor Swift, it will use Minecraft to teach them about calculating the volume and area of shapes, and Taylor’s lyrics to teach them about storytelling and rhyme schemes. The experience will be far richer—with graphics and sound, for example—and more personalized than today’s text-based tutors.

your agent will be able to help you in the same way that personal assistants support executives today. If your friend just had surgery, your agent will offer to send flowers and be able to order them for you. If you tell it you’d like to catch up with your old college roommate, it will work with their agent to find a time to get together, and just before you arrive, it will remind you that their oldest child just started college at the local university.

To see the dramatic change that agents will bring, let’s compare them to the AI tools available today. Most of these are bots. They’re limited to one app and generally only step in when you write a particular word or ask for help. Because they don’t remember how you use them from one time to the next, they don’t get better or learn any of your preferences.

The current state of the art is Khanmigo, a text-based bot created by Khan Academy. It can tutor students in math, science, and the humanities—for example, it can explain the quadratic formula and create math problems to practice on. It can also help teachers do things like write lesson plans.

Businesses that are separate today—search advertising, social networking with advertising, shopping, productivity software—will become one business.

other issues won’t be decided by companies and governments. For example, agents could affect how we interact with friends and family. Today, you can show someone that you care about them by remembering details about their life—say, their birthday. But when they know your agent likely reminded you about it and took care of sending flowers, will it be as meaningful for them?

In the computing industry, we talk about platforms—the technologies that apps and services are built on. Android, iOS, and Windows are all platforms. Agents will be the next platform.

A shock wave in the tech industry

Agents won’t simply make recommendations; they’ll help you act on them. If you want to buy a camera, you’ll have your agent read all the reviews for you, summarize them, make a recommendation, and place an order for it once you’ve made a decision.

Agents will affect how we use software as well as how it’s written. They’ll replace search sites because they’ll be better at finding information and summarizing it for you

they’ll be dramatically better. You’ll be able to have nuanced conversations with them. They will be much more personalized, and they won’t be limited to relatively simple tasks like writing a letter.

Companies will be able to make agents available for their employees to consult directly and be part of every meeting so they can answer questions.

AI agents that are well trained in mental health will make therapy much more affordable and easier to get. Wysa and Youper are two of the early chatbots here. But agents will go much deeper. If you choose to share enough information with a mental health agent, it will understand your life history and your relationships. It’ll be available when you need it, and it will never get impatient. It could even, with your permission, monitor your physical responses to therapy through your smart watch—like if your heart starts to race when you’re talking about a problem with your boss—and suggest when you should see a human therapist.

If the number of companies that have started working on AI just this year is any indication, there will be an exceptional amount of competition, which will make agents very inexpensive.

Agents are smarter. They’re proactive—capable of making suggestions before you ask for them. They accomplish tasks across applications. They improve over time because they remember your activities and recognize intent and patterns in your behavior. Based on this information, they offer to provide what they think you need, although you will always make the final decisions.

Agents are not only going to change how everyone interacts with computers. They’re also going to upend the software industry, bringing about the biggest revolution in computing since we went from typing commands to tapping on icons.

The most exciting impact of AI agents is the way they will democratize services that today are too expensive for most people

The ramifications for the software business and for society will be profound.

In the next five years, this will change completely. You won’t have to use different apps for different tasks. You’ll simply tell your device, in everyday language, what you want to do. And depending on how much information you choose to share with it, the software will be able to respond personally because it will have a rich understanding of your life. In the near future, anyone who’s online will be able to have a personal assistant powered by artificial intelligence that’s far beyond today’s technology.

You’ll also be able to get news and entertainment that’s been tailored to your interests. CurioAI, which creates a custom podcast on any subject you ask about, is a glimpse of what’s coming.

An agent will be able to help you with all your activities if you want it to. With permission to follow your online interactions and real-world locations, it will develop a powerful understanding of the people, places, and activities you engage in. It will get your personal and work relationships, hobbies, preferences, and schedule. You’ll choose how and when it steps in to help with something or ask you to make a decision.

even the best sites have an incomplete understanding of your work, personal life, interests, and relationships and a limited ability to use this information to do things for you. That’s the kind of thing that is only possible today with another human being, like a close friend or personal assistant.

In the distant future, agents may even force humans to face profound questions about purpose. Imagine that agents become so good that everyone can have a high quality of life without working nearly as much. In a future like that, what would people do with their time? Would anyone still want to get an education when an agent has all the answers? Can you have a safe and thriving society when most people have a lot of free time on their hands?

They’ll have an especially big influence in four areas: health care, education, productivity, and entertainment and shopping.

The risk was that the internet had become an echo chamber of stories produced by special interest groups and rogue states, he said.

The danger is that these huge platforms end up in an arms race with each other. They’re like elephants fighting and then everybody else is like mice that get stamped on without them even realising the consequences of their actions.”

there are huge consequences to this technology. And it’s not just the danger of ripping our industry apart, but also ripping other industries apart, all the creative industries. How many jobs are going to be lost? What’s the damage to the economy going to be if these rapacious organisations can continue to operate without any legal ramifications?

Rothermere revealed that DMGT had experimented with using AI to help journalists to publish stories faster, but that it then took longer “to check the accuracy of what it comes up” than it would have done to write the article.

“It just came down to not having enough money,” said Terence Trouillot, a senior editor at Frieze, a contemporary art magazine . He spent nearly three years on the AICA-USA board, resigning in 2022. He said that initiatives to re-energize the group “were just moving too slowly.”

According to Lilly Wei, a longtime AICA-USA board member who recently resigned, the group explored different ways of protecting writers in the industry. There were unrealized plans of turning the organization into a union; others hoped to create a permanent emergency fund to keep financially struggling critics afloat. She said the organization has instead canceled initiatives, including an awards program for the best exhibitions across the country.

Large galleries — including Gagosian, Hauser & Wirth, and Pace Gallery — now produce their own publications with interviews and articles sometimes written by the same freelance critics who simultaneously moonlight as curators and marketers. Within its membership, AICA-USA has a number of writers who belong to all three categories.

“It’s crazy that the ideal job nowadays is producing catalog essays for galleries, which are basically just sales pitches,” Dillon said in a phone interview. “Critical thinking about art is not valued financially.”

Noah Dillon, who was on the AICA-USA board until he resigned last year, has been reluctant to recommend that anyone follow his path to become a critic. Not that they could. The graduate program in art writing that he attended at the School of Visual Arts in Manhattan also closed during the pandemic.

David Velasco, editor in chief of Artforum, said in an interview that he hoped the magazine’s acquisition would improve the publication’s financial picture. The magazine runs nearly 700 reviews a year, Velasco said; about half of those run online and pay $50 for roughly 250 words. “Nobody I know who knows about art does it for the money,” Velasco said, “but I would love to arrive at a point where people could.”

While most editors recognize the importance of criticism in helping readers decipher contemporary art, and the multibillion-dollar industry it has created, venues for such writing are shrinking. Over the years, newspapers including The Philadelphia Inquirer and The Miami Herald have trimmed critics’ jobs.

In December, the Penske Media Corporation announced that it had acquired Artforum, a contemporary art journal, and was bringing the title under the same ownership as its two competitors, ARTnews and Art in America. Its sister publication, Bookforum, was not acquired and ceased operations. Through the pandemic, other outlets have shuttered, including popular blogs run by SFMOMA and the Walker Art Center in Minneapolis as well as smaller magazines called Astra and Elephant.

The need for change in museums was pointed out in the 2022 Burns Halperin Report, published by Artnet News in December, that analyzed more than a decade of data from over 30 cultural institutions. It found that just 11 percent of acquisitions at U.S. museums were by female artists and only 2.2 percent were by Black American artists

(National newspapers with art critics on staff include The New York Times, The Los Angeles Times, The Boston Globe and The Washington Post. )

Julia Halperin, one of the study’s organizers, who recently left her position as Artnet’s executive editor, said that the industry has an asymmetric approach to diversity. “The pool of artists is diversifying somewhat, but the pool of staff critics has not,” she said.

the matter of diversity in criticism is compounded by the fact that opportunities for all critics have been diminished.

Which is why many leaders in the nineteenth and twentieth centuries, conservatives as well as liberals, attached a safety net to such an unsafe, bewildering, constantly shifting web of human demand and supply. They did so in part for humane reasons – but also because they realized that unless capitalism red in tooth and claw were complemented by some collective cushioning, it would soon fall prey to more revolutionary movements. The safety net was created to save capitalism from itself, not to attack capitalism.

The forces of global capitalism – now unleashed on an unprecedented global scale with China, Russia, Brazil and India – are destroying the kind of society which allows and encourages stability, traditional families, and self-sufficient community.

One reason, I think, that Obama’s move toward a slightly more effective welfare state has not met strong resistance – and is clearly winning the American argument – is that the sheer force of this global capitalism is coming to bear down on America more fiercely than ever before. People know this and they look for some kind of security

it is precisely capitalism’s post-1980s triumph that has helped create the social dependency so many conservatives bemoan today. And this time, there is even a sense that whole industries are disappearing faster than ever before – not simply because of outsourcing but because of technology itself

the sheer speed at which this is now happening. It makes the conservative project all but impossible, if still necessary. It does require a defense of the family, of marriage, of personal responsibility. But it also demands a compassion toward the victims of this economic and social change, an understanding of their bewilderment

in my bleaker moments, I wonder whether humankind will come to see this great capitalist leap forward as a huge error in human history – the moment we undid ourselves and our very environment, reaching untold material wealth as well as building societies in which loneliness, dislocation, displacement and radical insecurity cannot but increase.

if I think that simply explaining the facts to the other side is going to change their mind, then I’m in for a rude awakening.

As a philosopher, I found to be somewhat more disturbing the idea that denialism isn’t even about critical thinking.

what the large variety of denialisms have in common is a very strong, overwhelming, ideological commitment that helps define the denialist identity in a core manner. This commitment can be religious, ethnical or political in nature, but in all cases it fundamentally shapes the personal identity of the people involved, thus generating a strong emotional attachment, as well as an equally strong emotional backlash against critics.

To begin with, of course, they think of themselves as “skeptics,” thus attempting to appropriate a word with a venerable philosophical pedigree and which is supposed to indicate a cautiously rational approach to a given problem. As David Hume put it, a wise person (i.e., a proper skeptic) will proportion her beliefs to the evidence. But there is nothing of the Humean attitude in people who are “skeptical” of evolution, climate change, vaccines, and so forth.

Denialists have even begun to appropriate the technical language of informal logic: when told that a majority of climate scientists agree that the planet is warming up, they are all too happy to yell “argument from authority!” When they are told that they should distrust statements coming from the oil industry and from “think tanks” in their pockets they retort “genetic fallacy!” And so on. Never mind that informal fallacies are such only against certain background information, and that it is eminently sensible and rational to trust certain authorities (at the least provisionally), as well as to be suspicious of large organizations with deep pockets and an obvious degree of self-interest.

What commonalities can we uncover across instances of denialism that may allow us to tackle the problem beyond facts and elementary logic?

the evidence from the literature is overwhelming that denialists have learned to use the vocabulary of critical thinking against their opponents.

Another important issue to understand is that denialists exploit the inherently tentative nature of scientific or historical findings to seek refuge for their doctrines.

. Scientists have been wrong before, and doubtlessly will be again in the future, many times. But the issue is rather one of where it is most rational to place your bets as a Bayesian updater: with the scientific community or with Faux News?

Science should be portrayed as a human story of failure and discovery, not as a body of barely comprehensible facts arrived at by epistemic priests.

Is there anything that can be done in this respect? I personally like the idea of teaching “science appreciation” classes in high school and college [2], as opposed to more traditional (usually rather boring, both as a student and as a teacher) science instruction

Denialists also exploit the media’s self imposed “balanced” approach to presenting facts, which leads to the false impression that there really are two approximately equal sides to every debate.

This is a rather recent phenomenon, and it is likely the result of a number of factors affecting the media industry. One, of course, is the onset of the 24-hr media cycle, with its pernicious reliance on punditry. Another is the increasing blurring of the once rather sharp line between reporting and editorializing.

The problem with the media is of course made far worse by the ongoing crisis in contemporary journalism, with newspapers, magazines and even television channels constantly facing an uncertain future of revenues,

he push back against denialism, in all its varied incarnations, is likely to be more successful if we shift the focus from persuading individual members of the public to making political and media elites accountable.

This is a major result coming out of Brendan’s research. He showed data set after data set demonstrating two fundamental things: first, large sections of the general public do not respond to the presentation of even highly compelling facts, indeed — as mentioned above — are actually more likely to entrench further into their positions.

Second, whenever one can put pressure on either politicians or the media, they do change their tune, becoming more reasonable and presenting things in a truly (as opposed to artificially) balanced way.

Third, and most crucially, there is plenty of evidence from political science studies that the public does quickly rally behind a unified political leadership. This, as much as it is hard to fathom now, has happened a number of times even in somewhat recent times

when leaders really do lead, the people follow. It’s just that of late the extreme partisan bickering in Washington has made the two major parties entirely incapable of working together on the common ground that they have demonstrably had in the past.

Another thing we can do about denialism: we should learn from the detailed study of successful cases and see what worked and how it can be applied to other instances

Yet another thing we can do: seek allies. In the case of evolution denial — for which I have the most first-hand experience — it has been increasingly obvious to me that it is utterly counterproductive for a strident atheist like Dawkins (or even a relatively good humored one like yours truly) to engage creationists directly. It is far more effective when we have clergy (Barry Lynn of Americans United for the Separation of Church and State [6] comes to mind) and religious scientists

Make no mistake about it: denialism in its various forms is a pernicious social phenomenon, with potentially catastrophic consequences for our society. It requires a rallying call for all serious public intellectuals, academic or not, who have the expertise and the stamina to join the fray to make this an even marginally better world for us all. It’s most definitely worth the fight.

Facebook just opened up its Instant Articles feature to all publishers. The feature allows external outlets to publish their content directly onto Facebook’s platform, eliminating that pesky journey to their actual website. They can either place their own ads on the content or join a revenue-sharing program with Facebook. Facebook has touted this plan as one which provides a better user experience and has noted the ability for publishers to create ads on the platform as well.

The benefit to Facebook is obvious: It gets to keep people inside its house. They don’t have to leave for even a second. The publisher essentially has to accept this reality, sigh about the gradual death of websites and hope that everything works out on the financial side.

It’s all part of a much bigger story: that of how the internet, that supposed smasher of gates and leveler of playing fields, has coalesced around a mere handful of mega-giants in the space of just a couple of decades. The gates didn’t really come down. The identities of the gatekeepers just changed. Google, Facebook, Apple, Amazon

But people with high-wage jobs game less. The reason might be that gaming time represents a higher opportunity cost to them, while people with low-wage jobs and no discernible career path might be more willing to trade work for play.

He contends in “Coming Apart” that there was far greater social cohesion across class lines 50 years ago because “the powerful norms of social and economic behavior in 1960 swept virtually everyone into their embrace,” adding in a Jan. 21 op-ed in the Wall Street Journal thatOver the past 50 years, that common civic culture has unraveled. We have developed a new upper class with advanced educations, often obtained at elite schools, sharing tastes and preferences that set them apart from mainstream America. At the same time, we have developed a new lower class, characterized not by poverty but by withdrawal from America’s core cultural institutions.According to Murray, higher education has now become a proxy for higher IQ, as elite colleges become sorting mechanisms for finding, training and introducing to each other the most intellectually gifted young people. Fifty years into the education revolution, members of this elite are likely to be themselves the offspring of cognitively gifted parents, and to ultimately bear cognitively gifted children.

“Industriousness: The norms for work and women were revolutionized after 1960, but the norm for men putatively has remained the same: Healthy men are supposed to work. In practice, though, that norm has eroded everywhere.”

Murray makes the case that cognitive ability is worth ever more in modern advanced, technologically complex hypercompetitive market economies. As an example, Murray quotes Bill Gates: “Software is an IQ business. Microsoft must win the IQ war or we won’t have a future.”

Murray alleges that those with higher IQs now exhibit personal and social behavioral choices in areas like marriage, industriousness, honesty and religiosity that allow them to enjoy secure and privileged lives. Whites in the lower social-economic strata are less cognitively able – in Murray’s view – and thus less well-equipped to resist the lure of the sexual revolution and doctrines of self-actualization so they succumb to higher rates of family dissolution, non-marital births, worklessness and criminality. This interaction between IQ and behavioral choice, in Murray’s framework, is what has led to the widening income and cultural gap.

Despised by the left, Murray has arguably done liberals a service by requiring them to deal with those whose values may seem alien, to examine the unintended consequences of their policies and to grapple with the political impact of assertions made by the right. He has also amassed substantial evidence to bolster his claims and at the same time elicited a formidable academic counter-attack.

To Murray, the overarching problem is that liberal elites, while themselves living lives of probity, have refused to proselytize for the bourgeois virtues to which they subscribe, thus leaving their less discerning fellow-citizens to flounder in the anti-bourgeois legacy of the counter-cultural 1960s.

“Great Civic Awakening” among the new upper class – an awakening that will lead to the kind of “moral rearmament” and paternalism characteristic of anti-poverty drives in the 19th century. To achieve this, Murray believes, the “new upper class must once again fall in love with what makes America different.”

The cognitive elites Murray cites are deeply committed to liberal norms of cultural tolerance and permissiveness. The antipathy to the moralism of the religious right has, in fact, been a major force driving these upscale, secular voters into the Democratic party.

changes in the world economy may be destructive in terms of the old social model, but they are profoundly liberating and benign in and of themselves. The family farm wasn’t dying because capitalism had failed or a Malthusian crisis was driving the world to starvation. The family farm died of abundance; it died of the rapidly rising productivity that meant that fewer and fewer people had to work to produce the food on which humanity depended.Mead continues:Revolutions in manufacturing and, above all, in communications and information technology create the potential for unprecedented abundance and a further liberation of humanity from meaningless and repetitive work. Our problem isn’t that the sources of prosperity have dried up in a long drought; our problem is that we don’t know how to swim. It is raining soup, and we are stuck holding a fork.The 21st century, Mead adds,must reinvent the American Dream. It must recast our economic, social, familial, educational and political systems for new challenges and new opportunities. Some hallowed practices and institutions will have to go under the bus. But in the end, the changes will make us richer, more free and more secure than we are now.Mead’s predictions may or may not prove prescient, but it his thinking, more than Murray’s, that reflects the underlying optimism that has sustained the United States for more than two centuries — a refusal to believe that anything about human nature is essentially “intractable.” Mead’s way of looking at things is not only more inviting than Murray’s, it is also more on target.

You might object that it’s all based on individual choice. That argument ignores the consequences of networks, and the way they function. After a certain point choice is reduced.

What if ordinary users routinely earned micropayments for their contributions? If all content were valued instead of only mogul content, perhaps an information economy would elevate success for all. But under the current terms of debate that idea can barely be whispered.

Once networks are established, it is hard to reduce their power. Google’s advertisers, for instance, know what will happen if they move away. The next-highest bidder for each position in Google’s auction-based model for selling ads will inherit that position if the top bidder goes elsewhere. So Google’s advertisers tend to stay put because the consequences of leaving are obvious to them

The obvious strategy in the fight for a piece of the advertising pie is to close off substantial parts of the Internet so Google doesn’t see it all anymore. That’s how Facebook hopes to make money, by sealing off a huge amount of user-generated information into a separate, non-Google world.

it’s not Facebook’s fault! We, the idealists, insisted that information be able to flow freely online, which meant that services relating to information, instead of the information itself, would be the main profit centers. Some businesses do sell content, but that doesn’t address the business side of everyday user-generated content. The adulation of “free content” inevitably meant that “advertising” would become the biggest business in the open part of the information economy

We in Silicon Valley undermined copyright to make commerce become more about services instead of content — more about our code instead of their files. The inevitable endgame was always that we would lose control of our own personal content, our own files.

“The right to be healthy trumps the right of corporations to promote choices that lead to premature death and preventable illnesses.

The issues of auto and gun safety, of drug, alcohol and tobacco addiction, and of hyperconsumption of unhealthy food are not as distinct as we’ve long believed; really, they’re quite similar.

the argument for protecting people against marketers of junk food relies in part on the fact that antismoking regulations and seatbelt laws were initially attacked as robbing us of choice; now we know they’re lifesavers.

Protecting public health is a fundamental government responsibility; a decent society should not allow food companies to convince children to buy food that’s bad for them or to encourage a lifetime of unhealthy eating.”

But aren’t they less “un-American” than allowing a company to maximize its return on investment by looking to sell to children or healthy adults in ways that will cause premature mortality?

“Shouldn’t science and technology be used to improve human well-being, not to advance business goals that harm health?” Two other questions that can be answered “yes.”

There’s also a subset of this progressive story pattern that I’m particularly interested in, and that’s the “conceptual breakthrough” story, where the characters discover something about the nature of the universe which radically expands their understanding of the world.  This is a classic science fiction storyline.

one of the cool things about science fiction is that it lets you dramatize the process of scientific discovery, that moment of suddenly understanding something about the universe. That is what scientists find appealing about science, and I enjoy seeing the same thing in science fiction.

when you mention myth or mythic structure, yes, I don’t think myths can do that, because in general, myths reflect a pre-industrial view of the world. I don’t know if there is room in mythology for a strong conception of the future, other than an end-of-the-world or Armageddon scenario …

offers new insights into the contributions made by the fungus to plant degradation

identification of enzymes capable of degrading lignocelluloses could also be a boon for the biofuels industry. Biofuel companies already use enzyme blends to break down starches from plant biomass, most commonly corn, into sugars to be fermented into ethanol. But the enzymes currently available can’t break down tough-to-degrade molecules such as lignocelluloses on an industrial scale.

idea is that the genes coding for these enzymes in the fungus gardens of leafcutter ants can be mass-produced in the lab by inserting them into E. coli or yeast, then used to break down feedstocks that require less land, fewer resources, and that don’t compete with food crops. “This is a highly evolved system, so the hypothesis is that the enzymes would be highly tuned to break down plant biomass,”

researchers will also need to take into account the role of bacteria. “It could be that bacteria are producing some enzymes that enhance the efficacy of the fungal enzymes,” says Aylward. “Integrating the bacterial component is likely to be important, because the synergism we see with leafcutter gardens is on the level of the entire symbiosis.”

“Nearly one in five respondents feel financial service professionals must sometimes engage in unethical or illegal activity to be successful in the current financial environment.”

One in 10 said they had directly felt pressure “to compromise ethical standards or violate the law.”

And nearly half of the high-income earners say law enforcement and regulatory authorities in their country are ineffective “in detecting, investigating and prosecuting securities violations.”

expanded its questionnaire to more than 1,200 traders, portfolio managers, investment bankers and hedge fund professionals both in the United States and Britain

Its results appear even more noteworthy today for the sheer number of individuals who continue to say the ethics of the industry remain unchanged since the crisis (a third said that, by the way)

As an economist, I look at it this way: Every profession produces both private returns — the fruits of labor that a person enjoys — and social returns — those that society enjoys. If I set up a shop on Etsy selling photographs, my private returns may be defined as the revenue I generate. The social returns are the pleasure that my photographs provide to my customers.

People in some professions provide a surplus of social returns. Inventors are a good example. Take the modern semiconductor. It made possible countless other inventions — nearly every piece of computing we interact with today.

countries suffer when talented people become what we economists call “rent seekers.” Instead of creating wealth, rent seekers simply transfer it — from others to themselves.

Job titles don’t tell you whether someone is primarily a rent seeker. A lawyer who helps draft precise contracts may actually be helping the wheels of commerce turn, and so creating wealth. But trial lawyers in a country with poorly functioning tort systems may simply be extracting rents: They can make money by pursuing frivolous lawsuits.

In this respect, finance is a vexing industry.

arbitrage is valuable only to a point. It has a gold rush element with prospectors racing to get to the gold first. While finding gold has value, finding gold before someone else does is mainly rent-seeking.

Booth, have shown in a study how extreme this financial gold rush has become in at least one corner of the financial world. From 2005 to 2011, they found that the duration of arbitrage opportunities in the Chicago Mercantile Exchange and the New York Stock Exchange declined from a median of 97 milliseconds to seven milliseconds

correcting mispricing at this speed is unlikely to have any real social benefit: What serious investment is being guided by prices at the millisecond level? Short-term arbitrage, while lucrative, seems to be mainly rent-seeking.

This kind of rent-seeking behavior is widespread in other parts of finance. Banks sometimes make money by using hidden fees rather than adding true value. Debt collection agencies may use unscrupulous practices. Lenders to poor people buying used cars can make profits with business models that encourage high rates of default — making money by taking advantage of people’s overconfidence about what cars they can afford and by repossessing vehicles. These kinds of practices may be both lucrative — and socially pernicious.

The poor face a tremendous problem every day juggling money and expenses. Their pay often fluctuates week by week, yet they must pay rent no matter what they earn. Right now, poor people often use expensive payday loans or must incur expensive late fees.

Surely we could do better. Finding ways to smooth out these shocks is the kind of important, socially valuable problem that finance could solve. Many other crucial social problems have finance at their root, from saving for college to insuring unemployment risk.

Instead of finding clever ways to hide fees, banking innovations could solve these real and important problems.

So how should I feel about my students going into finance? I hope they realize that they have the potential to do great good and not simply make money. It may not be how the industry is structured now, but idealism and inventiveness are two of the best traits of youth, and finance especially could use them.

when life is not work, it is play. That's not hard to understand. People are tired, stressed, drained: They want to kick back a little.

Now the kids who were kids when the Western canon went on trial and received summary justice are working the levers of culture. They are the editors and the reviewers and the arts writers and the ones who interview the novelists and the poets

Though the arts interest them, though they read this and they read that—there is one thing that makes them very nervous indeed about what they do. They are not comfortable with judgments of quality. They are not at ease with "the whole evaluation thing."

They may sense that Blake's Songs of Innocence and Experience are in some manner more valuable, more worth pondering, more worth preserving than The Simpsons. They may sense as much. But they do not have the terminology to explain why. They never heard the arguments. The professors who should have been providing the arguments when the No More Western Culture marches were going on never made a significant peep.

But entertainment culture suffers no such difficulty. Its rationale is simple, clear, potent: The products of the culture industry are good because they make you feel good.

So the arbiters of culture—our former students—went the logical way. They said: If it makes you feel good, it must be good. If Stephen King and John Grisham bring pleasure, why then, let us applaud them.

What's not asked in the review and the interview and the profile is whether a King book is worth writing or worth reading. It seems that no one anymore has the wherewithal to say that reading a King novel is a major waste of time.

Media no longer seek to shape taste. They do not try to educate the public. And this is so in part because no one seems to know what literary and cultural education would consist of. What does make a book great, anyway? And the media have another reason for not trying to shape taste: It pisses off the readers. They feel insulted, condescended to; they feel dumb.

Even the most august publications and broadcasts no longer attempt to shape taste. They merely seek to reflect it. They hold the cultural mirror up to the reader—what the reader likes, the writer and the editor like. They hold the mirror up and the reader and—what else can he do?—the reader falls in love. The common reader today is someone who has fallen in love, with himself.

Reading in pursuit of influence—that, I think, is the desired thing. It takes a strange mixture of humility and confidence to do as much.

The desire to be influenced is always bound up with some measure of self-dislike, or at least with a dose of discontent. While the culture tells us to love ourselves as we are—or as we will be after we've acquired the proper products and services—the true common reader does not find himself adequate at all.

Republicans are the party of Big Energy and Big Food: they dominate contributions from extractive industries and agribusiness. And they are, in particular, the party of Big Pizza.

pizza partisanship tells you a lot about what is happening to American politics as a whole.

Why should pizza, of all things, be a divisive issue

The immediate answer is that it has been caught up in the nutrition wars

the pizza sector has chosen instead to take a stand for the right to add extra cheese.

The rhetoric of this fight is familiar. The pizza lobby portrays itself as the defender of personal choice and personal responsibility. It’s up to the consumer, so the argument goes, to decide what he or she wants to eat, and we don’t need a nanny state telling us what to do.

it doesn’t hold up too well once you look at what’s actually at stake in the pizza disputes.

Nobody is proposing a ban on pizza, or indeed any limitation on what informed adults should be allowed to eat. Instead, the fights involve things like labeling requirements — giving consumers the information to make informed choices — and the nutritional content of school lunches, that is, food decisions that aren’t made by responsible adults but are instead made on behalf of children.

Nutrition, where increased choice can be a bad thing, because it all too often leads to bad choices despite the best of intentions, is one of those areas — like smoking — where there’s a lot to be said for a nanny state.

diet isn’t purely a personal choice, either; obesity imposes large costs on the economy as a whole.

But you shouldn’t expect such arguments to gain much traction

For one thing, free-market fundamentalists don’t want to hear about qualifications to their doctrine

Also, with big corporations involved, the Upton Sinclair principle applies: It’s difficult to get a man to understand something when his salary depends on his not understanding it

nutritional partisanship taps into deeper cultural issues.

At one level, there is a clear correlation between lifestyles and partisan orientation: heavier states tend to vote Republican, and the G.O.P. lean is especially pronounced in what the Centers for Disease Control and Prevention call the “diabetes belt” of counties, mostly in the South, that suffer most from that particular health problem

At a still deeper level, health experts may say that we need to change how we eat, pointing to scientific evidence, but the Republican base doesn’t much like experts, science, or evidence. Debates about nutrition policy bring out a kind of venomous anger — much of it now directed at Michelle Obama, who has been championing school lunch reforms — that is all too familiar if you’ve been following the debate over climate change.

It is, instead, a case study in the toxic mix of big money, blind ideology, and popular prejudices that is making America ever less governable.

no seller can offer more than 5 percent off the cover price of new books. That means a book costs more or less the same wherever you buy it in France, even online. The Lang law was designed to make sure France continues to have lots of different books, publishers and booksellers.

Readers say they trust books far more than any other medium, including newspapers and TV.

Six of the world’s 10 biggest book-selling countries — Germany, Japan, France, Italy, Spain and South Korea — have versions of fixed book prices.

What underlies France’s book laws isn’t just an economic position — it’s also a worldview. Quite simply, the French treat books as special. Some 70 percent of French people said they read at least one book last year; the average among French readers was 15 books.

In Britain, which abandoned its own fixed-price system in the 1990s, there are fewer than 1,000 independent bookstores left. A third closed in the past nine years, as supermarkets and Amazon discounted some books by more than 50 percent.

The French government classifies books as an “essential good,” along with electricity, bread and water.

None of this is taken for granted. People here have thought for centuries about what makes a book industry vibrant, and are watching developments in Britain and America as cautionary tales. “We don’t sell potatoes,” says Mr. Moni. “There are also ideas in books. That’s what’s dangerous. Because the day that you have a large seller that sells 80 percent of books, he’s the one who will decide what’s published, or what won’t be published.

“When your computer dies, you throw it away,” says Mr. Montagne of the publishers’ association. “But you’ll remember a book 20 years later. You’ve deeply entered into a story that’s not your own. It’s forged who you are. You’ll only see later how much it has affected you. You don’t keep all books, but it’s not a market like others. The contents of a bookcase can define who you are.”

At present even those leading the charge against the surveillance state continue to treat the issue as if it were a political scandal that can be blamed on the corrupt policies of a few bad men who must be held accountable. It is widely hoped that all our societies need to do to fix our problems is to pass a few laws.

The cancer is much deeper than this. We live not only in a surveillance state, but in a surveillance society. Totalitarian surveillance is not only embodied in our governments; it is embedded in our economy, in our mundane uses of technology and in our everyday interactions.

The very concept of the Internet — a single, global, homogenous network that enmeshes the world — is the essence of a surveillance state. The Internet was built in a surveillance-friendly way because governments and serious players in the commercial Internet wanted it that way. There were alternatives at every step of the way. They were ignored.

Unlike intelligence agencies, which eavesdrop on international telecommunications lines, the commercial surveillance complex lures billions of human beings with the promise of “free services.” Their business model is the industrial destruction of privacy. And yet even the more strident critics of NSA surveillance do not appear to be calling for an end to Google and Facebook

At their core, companies like Google and Facebook are in the same business as the U.S. government’s National Security Agency. They collect a vast amount of information about people, store it, integrate it and use it to predict individual and group behavior, which they then sell to advertisers and others. This similarity made them natural partners for the NSA

there is an undeniable “tyrannical” side to the Internet. But the Internet is too complex to be unequivocally categorized as a “tyrannical” or a “democratic” phenomenon.

It is possible for more people to communicate and trade with others in more places in a single instant than it ever has been in history. The same developments that make our civilization easier to surveil make it harder to predict. They have made it easier for the larger part of humanity to educate itself, to race to consensus, and to compete with entrenched power groups.

If there is a modern analogue to Orwell’s “simple” and “democratic weapon,” which “gives claws to the weak” it is cryptography, the basis for the mathematics behind Bitcoin and the best secure communications programs. It is cheap to produce: cryptographic software can be written on a home computer. It is even cheaper to spread: software can be copied in a way that physical objects cannot. But it is also insuperable — the mathematics at the heart of modern cryptography are sound, and can withstand the might of a superpower. The same technologies that allowed the Allies to encrypt their radio communications against Axis intercepts can now be downloaded over a dial-up Internet connection and deployed with a cheap laptop.

It is too early to say whether the “democratizing” or the “tyrannical” side of the Internet will eventually win out. But acknowledging them — and perceiving them as the field of struggle — is the first step toward acting effectively

Humanity cannot now reject the Internet, but clearly we cannot surrender it either. Instead, we have to fight for it. Just as the dawn of atomic weapons inaugurated the Cold War, the manifold logic of the Internet is the key to understanding the approaching war for the intellectual center of our civilization