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Some of Trump’s Christian followers do appear to have grown to see him as a kind of religious figure. He is a savior. I think it began with the sense that he was uniquely committed to saving them from their foes (liberals, Democrats, elites, seculars, illegal immigrants, etc.) and saving America from all that threatens it.

In this sense, Gushee continued, “a savior does not have to be a good person but just needs to fulfill his divinely appointed role. Trump is seen by many as actually having done so while president.”

This view of Trump is especially strong “in the Pentecostal wing of the conservative Christian world,” Gushee wrote, wherehe is sometimes also viewed as an anointed leader sent by God. “Anointed” here means set apart and especially equipped by God for a holy task. Sometimes the most unlikely people got anointed by God in the Bible. So Trump’s unlikeliness for this role is actually evidence in favor.

The prosecutions underway against Trump have been easily interpretable as signs of persecution, which can then connect to the suffering Jesus theme in Christianity. Trump has been able to leverage that with lines like, “They’re not persecuting me. They’re persecuting you.” The idea that he is unjustly suffering and, in so doing, vicariously absorbing the suffering that his followers would be enduring is a powerful way for Trump to be identified with Jesus.

Robert P. Jones, the founder and chief executive of P.R.R.I. (formerly the Public Religion Research Institute), contends that Trump’s religious claims are an outright fraud:Trump has given us adequate evidence that he has little religious sensibility or theological acuity. He has scant knowledge of the Bible, he has said that he has never sought forgiveness for his sins, and he has no substantive connection to a church or denomination. He’s not only one of the least religious but also likely one of the most theologically ignorant presidents the country has ever had.

If people wanted to make him out to be savior, anointed one and agent of God, he would not object

Lacking any inner spiritual or moral compass that would seek to deflect overinflated or even idolatrous claims about himself, he instead reposted their artwork and videos and so on. Anyone truly serious about the Christian faith would deflect claims to being a savior or anointed one, but he did not have such brakes operating.

there are evangelicals of the charismatic and Pentecostal variety — the so-called New Apostolic Reformation or Independent Network Charismatics — who believe that Donald Trump is an agent of God to rescue the United States from the atheistic, even demonic, secularists and progressives who want to destroy the country by advancing abortion, gay marriage, wokeness, transgenderism, etc.

“This whole movement,” Fea wrote,is rooted in prophecy. The prophets speak directly to God and receive direct messages from him about politics. They think that politics is a form of spiritual warfare and believe that God is using Donald Trump to help wage this war. (God can even use sinners to accomplish his will — there are a lot of biblical examples of this, they say.)

As far as Trump goes, Fea continued, “he probably thinks these charismatics and Pentecostals are crazy. But if they are going to tell him he is God’s anointed one, he will gladly accept the title and use it if it wins him votes. He will happily accept their prayers because it is politically expedient.”

The more interesting case, Gushee wrote,is Trump himself. I accept as given that he entered politics as the amoral, worldly, narcissistic New York businessman that he appeared to be. Like all G.O.P. politicians, he knew he would have to win over the conservative Christian voting bloc so central to the party.

Trump, Jones added in an email, “almost certainly lacks the kind of religious sensibility or theological framework necessary to personally grasp what it would even mean to be a Jesus-like, messianic figure.”

According to Jones, in order to rationalize this quasi-deification of Trump — despite “his crassness and vulgarity, divorces, mocking of disabled people, his overt racism and a determination by a court that he sexually abused advice columnist E. Jean Carroll” — white evangelicals refer not to Jesus but the Persian King Cyrus from the book of Isaiah in the Hebrew Bible.”

Cyrus is the model of an ungodly king who nonetheless frees a group of Jews who are held captive in Babylon. It took white evangelicals themselves a while to settle on an explanation for their support, but this characterization of Trump was solidified in a 2018 film that came out just before the 2018 midterms entitled “The Trump Prophecy,” which portrayed Trump as the only leader who could save America from certain cultural collapse.

According to Jones, “White evangelicals’ stalwart, enduring support for Trump tells us much more about who they see themselves to be than who they think Trump is. As I argued in my most recent book, ‘The Hidden Roots of White Supremacy,’” Jones continued in his email, “the primary force animating white evangelical Protestant politics — one that has been with us since before the founding of the Republic — is the vision of America as a nation primarily of, by and for white Christians.”

“a majority (56 percent) of white evangelical Protestants, compared to only one-third of all Americans, believed that ‘God intended America to be a new promised land where European Christians could create a society that could be an example to the rest of the world.’”

Jones argued that Trump’s declaration on the Ellipse on Jan. 6, 2021 — “We fight like hell. And if you don’t fight like hell, you’re not going to have a country anymore” — was a direct appeal “to this sense of divine entitlement of those who believed this mythology strongly enough to engage in a violent insurrection.”

“White evangelicals,” Guth found, “are invariably the most populist: more likely to favor strong leadership (even when that means breaking the rules), to distrust government, to see the country on the wrong track and to think that the majority should always rule (and minorities adapt).”

Guth also found thatanother salient trait of populist politics is the willingness to ignore democratic civility. We constructed a “rough politics” score from three A.N.E.S. items: whether protesters deserve what they get if they are hurt in demonstrating, whether the country would be better off if it got rid of rotten apples and whether people are “too sensitive” about political discourse. Here the usual pattern recurs: Evangelical affiliation, evangelical identity and biblical literalism predicts agreement with those assertions, while religious minorities, secular folks and progressives tend to demur.

Guth wrote that his “findings help us understand what many have struggled to comprehend: How can white evangelical Protestants continue to provide strong support for President Donald Trump, whose personal values and behavior trample on the biblical and ethical standards professed by that community?”

The most common explanation, according to Guth,is that white evangelicals have a transactional relationship with the president: As long as he nominates conservative jurists and makes appropriate gestures on abortion and sexual politics, they will support him.

“The evidence here,” he wrote, “suggests a more problematic answer”:White evangelicals share with Trump a multitude of attitudes, including his hostility toward immigrants, his Islamophobia, his racism and nativism, as well as his political style, with its nasty politics and assertion of strong, solitary leadership. Indeed, Trump’s candidacy may have “authorized” for the first time the widespread expression of such attitudes.

The pervasive populism of white evangelical laity not only helps explain their support for President Trump but suggests powerful barriers to influence by cosmopolitan internationalist evangelical elites, who want to turn the community in a different direction. As hostile responses to efforts of antipopulist evangelicals like Michael Gerson, Russell Moore, David Platt and many others indicate, there is currently a very limited market for such alternative perspectives among the rank and file.

Nor does cosmopolitan or cooperative internationalism find much purchase among local evangelical clergy. Analysis of the 2017 Cooperative Clergy Survey shows that ministers from several evangelical denominations, especially the large Southern Baptist Convention and Assemblies of God, exhibit exactly the same populist traits seen here in white evangelical laity, but in more pronounced form: strong Islamophobia, Christian nationalism, extreme moral traditionalism, opposition to trade pacts, militaristic attitudes, resistance to political compromise and climate change denial, among others.

In other words, conservative populism, with all its antidemocratic implications, has taken root in America. What we don’t know is for how long — or how much damage it will do.

In my talks with more than 100 voters, no one mentioned the word “authoritarian.” But that was no surprise — many everyday people don’t think in those terms. Focusing solely on these labels can miss the point.

Authoritarian leaders project qualities that many voters — not just Trump voters — admire: strength, a sense of control, even an ends-justify-the-means leadership style

Our movie-hero presidents, Top Gun pilots and crusading lawyers often take matters into their own hands or break the rules in ways that we cheer.

they have something in common with Trump: They are seen as having special or singular strengths, an “I alone can fix it” power.

argued that it’s just Trump who’s strong and honest enough to say it out loud — for them, a sign that he’s honest.

also see him as an authentic strongman who is not a typical politician

during Trump’s presidency, “there weren’t any active wars going on except for Afghanistan, which he did not start. He started no new wars. Our economy was great. Our gas prices were under 2 bucks a gallon. It’s just common sense to me. If it ain’t broke, don’t fix it.”

Trump’s vulgar language, his penchant for insults (“Don’t call him a fat pig,” he said about Chris Christie) and his rhetoric about political opponents (promising to “root out the communists, Marxists, fascists and the radical left thugs that live like vermin within the confines of our country”) are seen as signs of authenticity and strength by his supporters

Jan. 6, 2021, at the Capitol. I didn’t encounter a single outright supporter of what happened, but many people explained the events away. Increasingly separate information environments and our fractured media ecology shape the way people view that day.

they think Biden is too weak and too old to be president. They talk about him with attack lines frequently used by Trump, saying that he’s senile, falling down stairs, losing his train of thought while talking and so on

What I heard from voters drawn to Trump was that he had a special strength in making the economy work better for them than Biden has, and that he was a tough, “don’t mess with me” absolutist, which they see as helping to prevent new wars.

Many Trump supporters told me that had Trump been president, the war in Ukraine wouldn’t have happened because he would have been strong enough to be feared by Vladimir Putin or smart enough to make a deal with him, if necessary

Neither would Hamas have dared attack Israel, a few added. Their proof was that during Trump’s presidency, these wars indeed did not happen.

Like many of these right-wing populists, Trump leans heavily on the message that he alone is strong enough to keep America peaceful and prosperous in a scary world

In Iowa, Trump praised Orban himself before telling a cheering crowd: “For four straight years, I kept America safe. I kept Israel safe. I kept Ukraine safe, and I kept the entire world safe.”

from Trump, these statements often resulted in the crowds leaping to their feet (actually, some rallygoers never sat down) and interrupting him with applause and cheering.

That’s charisma. Charisma is an underrated aspect of political success — and it’s not necessarily a function of political viewpoint. Bill Clinton and Barack Obama oozed it, for example, and so does Trump.

Charismatic leaders, Weber wrote, “have a certain quality of an individual personality, by virtue of which he is set apart from ordinary men,” and is sought as a leader, especially when people feel the times are troubled.

Polls also show that voters believe that Trump would do a better job than Biden on the economy, foreign policy and immigration. It was Trump’s perceived strength, in contrast with Biden’s perceived weakness, that was the common theme that tied it all together for his supporters.

“I’m not concerned with Jan. 6,” Finch said. “I don’t trust our government. I don’t trust anything they’re saying. They’ve been doing this to Black people for so long, railroading them, so they have zero credibility. So I don’t even care about it, and I don’t want to hear about Jan. 6.”

For her, biased mainstream media is misrepresenting him. “He was making the point that he’d use executive orders on Day 1, like the others do — executive orders bypass Congress, but that’s how it’s done these days,” she said. “He was being sarcastic, not saying he’d be a real dictator.”

What’s a bit of due process overstepped here, a trampled emoluments clause there, when all politicians are believed to be corrupt and fractured information sources pump very different messages about reality?

Politicians projecting strength at the expense of the rules of liberal democracy isn’t a new phenomenon in the United States, or the world. Thomas Jefferson worried about it. So did Plato. Perhaps acknowledging that Trump’s appeal isn’t that mysterious can help people grapple with its power.

The basic driver is this: “Europe has an aging population that values its free time and social benefits over work and productivity. (This reduces labor force participation, innovation potential, and the economic growth of the continent.)

The eurozone economy grew about 6% over the past 15 years, measured in dollars, compared with 82% for the US, according to International Monetary Fund data. That has left the average EU country poorer per head than every US state except Idaho and Mississippi

If the current trend continues, by 2035 the gap between economic output per capita in the US and EU will be as large as that between Japan and Ecuador today

even in Smith’s figures, there is no Northern European economy that outperforms the US.

The US economy has grown 82% in fifteen years! Barring anything more than a mild recession, that means that we can expect the US economy to more than double by the time we hit 20 years from 2008. Isn’t that wonderful?

It’s not just a case of doubling the overall size of the economy. The increase in wealth has been widely distributed.

I was struck by a calculation by George Washington University’s Stephen Rose that he describes at a center-left newsletter called The Liberal Patriot

Deciding what is “middle class” versus “lower middle class” versus “upper middle class” is difficult, and every analysis sets up different cutoffs between these categories. But Rose sets a reasonable level, describing “upper middle class” as an income between $100,000 and $350,000

Using this measure, there was real growth in every rung of the economic ladder over the period from 1979 to 2019, with each ascending step having slightly higher percentage gain….

In brief, economic growth from 1979 to 2019 led more of the population to move up to higher social classes. As Table 1 shows, the bottom two categories—poor and near-poor plus lower middle class—went from a combined 49 percent to 29 percent

The size of the [core middle class] also declined, down from 39 percent to 31 percent over these years

These declines manifest themselves in a massive—and massively under-covered—growth of the [upper middle class], spiking from 13 percent in 1979 to 37 percent in 2019.

America has always thought of itself as a middle-class country. But we are rapidly becoming an upper-middle-class country

This is now the largest category, and at the rate we’re going, it will soon be an outright majority.

upper-middle-class people can afford more welfare-state spending, and they also have more access to education and, frankly, the luxury of agonizing over something other than our pocketbooks. It has been a long time since most Americans were concerned about how to put a roof over our heads, so we have moved on from “kitchen table” issues to concerns about values and status and self-image.

in this context, the Old Left welfare-state programs look, not merely unnecessary, but callous and cruel

the incentives created by welfare programs discourage work for the poor. But in a growing and thriving upper-middle-class country, this looks like a way to create a permanent underclass who are kept in poverty so we can congratulate ourselves on our compassion and generosity

some of this may also explain the right’s belligerent opposition to immigration. If we are becoming an upper-middle-class country, perhaps we are taking on some of the attitudes of a gated community that wants to keep out the riff-raff.

Food prices have risen by another 6.1 per cent from already high levels in 2022

Soaring energy prices mean that 5.5 million Germans say they weren’t able to heat their house properly over the past year

there have been further investigations into his alleged connections to a tax fraud scheme that happened when he was mayor of Hamburg (Scholz denies any wrongdoing).

‘Food…petrol and energy: everything has become so expensive that I have nothing left at the end of the month. There was a time when I could go out sometimes, or go to the cinema. Such extras are no longer possible.’

three quarters said they had to make cuts in their spending on consumer items and leisure time activities.

Recent scandals and spectacular failings of his government have cemented the public’s impression of incompetence.

Only around a quarter think he is fit to be chancellor, down from over 60 per cent when he took office in December 2021.

Last month, a bombshell ruling by the constitutional court declared the creative accounting of his administration illegal, blowing a €60 billion (£52 billion) hole in public finances and an even bigger one in what remained of Scholz’s reputation as a crisis chancellor.

What’s worse is that he doesn’t appear to care about the increasing despair in his country. Naturally aloof, his mannerisms and rhetoric sometimes drift into outright dismissiveness

Currently only 15 per cent would vote for his centre-left Social Democrats (SPD). That marks a 10 point-drop in support from the last election and the lowest result in the SPD’s post-war history by some margin.

One would think that such catastrophic loss of confidence would lead to serious soul-searching by Scholz or, failing that, within the SPD, which still thinks of itself as one of Germany’s main political parties. But there is no sign of any such critical reflection.

Nothing in his background seems to have brought him to this troubling point. Mr. Bechtolsheim was one of those who gave Silicon Valley its reputation as an engineer’s paradise, a place where getting rich was just something that happened by accident.

“He cared so much about making great technology that he would buy a house, not furnish it and sleep on a futon,” said Scott McNealy, who joined with Mr. Bechtolsheim four decades ago to create Sun Microsystems, a maker of computer workstations and servers that was a longtime tech powerhouse. “Money was not how he measured himself.”

researchers who analyze trading data say corporate executives broadly profit from confidential information. These executives try to avoid traditional insider trading restrictions by buying shares in economically linked firms, a phenomenon called “shadow trading.”

“There appears to be significant profits being made from shadow trading,” said Mihir N. Mehta, an assistant professor of accounting at the University of Michigan and an author of a 2021 study in The Accounting Review that found “robust evidence” of the behavior. “The people doing it have a sense of entitlement or maybe just think, ‘I’m invincible.’”

He went to Stanford as a Ph.D. student in the mid-1970s and got to know the then-small programming community around the university. In the early 1980s, he, along with Mr. McNealy, Vinod Khosla and Bill Joy, started Sun Microsystems as an outgrowth of a Stanford project. When Sun initially raised money, Mr. Bechtolsheim put his entire life savings — about $100,000 — into the company.

“You could end up losing all your money,” he was warned by the venture capitalists financing Sun. His response: “I see zero risk here.”

An impromptu demonstration was hastily arranged for 8 a.m., which Mr. Bechtolsheim cut short. He had seen enough, and besides, he had to get to the office. He gave them a check, and the deal was sealed, Mr. Levy wrote, “with as little fanfare as if he were grabbing a latte on the way to work.

Mr. Page and Mr. Brin couldn’t deposit Mr. Bechtolsheim’s check for a month because Google did not have a bank account. When Google went public in 2004, that $100,000 investment was worth at least $1 billion.

It wasn’t the money that made the story famous, however. It was the way it confirmed one of Silicon Valley’s most cherished beliefs about itself: that its genius is so blindingly obvious, questions are superfluous.

The dot-com boom was a disorienting period for longtime Valley leaders whose interest in money was muted. Mr. Bechtolsheim’s Sun colleague Mr. Joy left Silicon Valley.

“There’s so much money around, it’s clouding a lot of people’s ethics,” Mr. Joy said in a 1999 oral history

Mr. Bechtolsheim didn’t leave. In 2008, he co-founded Arista, a Silicon Valley computer networking company that went public and now has 4,000 employees and a stock market value of $100 billion.

Mr. Bechtolsheim was chair of Arista’s board when an executive from another company called in 2019, according to the S.E.C. Arista and the other company, which was not named in court documents, had a history of sharing confidential information under nondisclosure agreements.

immediately after hanging up, the government said, he bought Acacia option contracts in the accounts of a close relative and a colleague. The next day, the deal was announced. Acacia shares jumped 35 percent.

Arista’s code of conduct states that “employees who possess material, nonpublic information gained through their work at Arista may not trade in Arista securities or the securities of another company to which the information pertains.”

Mr. Levy, the “In the Plex” author, said there were plenty of legal ways to make money in Silicon Valley. “Someone who is regarded as an influential funder and is very well connected gets nearly unlimited opportunities to make very desirable early investments,”

“So far we’re seeing basic agreement with our best model of the universe, but we’re also seeing some potentially interesting differences that could indicate that dark energy is evolving with time,”

When the scientists combined their map with other cosmological data, they were surprised to find that it did not quite agree with the otherwise reliable standard model of the universe, which assumes that dark energy is constant and unchanging. A varying dark energy fit the data points better.

“It’s certainly more than a curiosity,” Dr. Palanque-Delabrouille said. “I would call it a hint. Yeah, it’s not yet evidence, but it’s interesting.”

But this version of dark energy is merely the simplest one. “With DESI we now have achieved a precision that allows us to go beyond that simple model,” Dr. Palanque-Delabrouille said, “to see if the density of dark energy is constant over time, or if it has some fluctuations and evolution with time.”

“While combining data sets is tricky, and these are early results from DESI, the possible evidence that dark energy is not constant is the best news I have heard since cosmic acceleration was firmly established 20-plus years ago.”

praised the new survey as “superb data.” The results, she said, “open the potential for a new window into understanding dark energy, the dominant component of the universe, which remains the biggest mystery in cosmology. Pretty exciting.”

what if dark energy were not constant as the cosmological model assumed?

At issue is a parameter called w, which is a measure of the density, or vehemence, of the dark energy. In Einstein’s version of dark energy, this number remains constant, with a value of –1, throughout the life of the universe. Cosmologists have been using this value in their models for the past 25 years.

Dark energy took its place in the standard model of the universe known as L.C.D.M., composed of 70 percent dark energy (Lambda), 25 percent cold dark matter (an assortment of slow-moving exotic particles) and 5 percent atomic matter. So far that model has been bruised but not broken by the new James Webb Space Telescope

As a measure of distance, the researchers used bumps in the cosmic distribution of galaxies, known as baryon acoustic oscillations. These bumps were imprinted on the cosmos by sound waves in the hot plasma that filled the universe when it was just 380,000 years old. Back then, the bumps were a half-million light-years across. Now, 13.5 billion years later, the universe has expanded a thousandfold, and the bumps — which are now 500 million light-years across — serve as convenient cosmic measuring sticks.

The DESI scientists divided the past 11 billion years of cosmic history into seven spans of time. (The universe is 13.8 billion years old.) For each, they measured the size of these bumps and how fast the galaxies in them were speeding away from us and from each other.

When the researchers put it all together, they found that the usual assumption — a constant dark energy — didn’t work to describe the expansion of the universe. Galaxies in the three most recent epochs appeared closer than they should have been, suggesting that dark energy could be evolving with time.

Dr. Riess of Johns Hopkins, who had an early look at the DESI results, noted that the “hint,” if validated, could pull the rug out from other cosmological measurements, such as the age or size of the universe. “This result is very interesting and we should take it seriously,” he wrote in his email. “Otherwise why else do we do these experiments?”

He is concerned that masters of the A.I. universes are developing systems that will expand chasms of inequality. He fears the transition to A.I. will be so abrupt that entire professional fields will be left doing menial jobs, or nothing, stripping people of dignity and unleashing floods of “despair.”

Father Benanti, who does not believe in the industry’s ability to self-regulate and thinks some rules of the road are required in a world where deep fakes and disinformation can erode democracy.

He shares his insights with Pope Francis, who in his annual World Day of Peace message on Jan. 1 called for a global treaty to ensure the ethical development and use of AI to prevent a world devoid of human mercy, where inscrutable algorithms decide who is granted asylum, who gets a mortgage, or who, on the battlefield, lives or dies.

all the time he applies his perspective about what it means to be alive, and to be human, when machines seem more alive and human. “This is a spiritual question,” he said.

raises enormous questions about redistributing wealth in an A.I. dominant universe.

he pursued an engineering degree at Sapienza University in Rome. It wasn’t enough.“I started to feel that something was missing,” he said, explaining that his advancement as an engineering student erased the mystique machines held for him. “I simply broke the magic.”

He left Rome to study in Assisi, the home of St. Francis, and over the next decade, took his final vows as a friar, was ordained as a priest and defended his dissertation on human enhancement and cyborgs. He got his job at the Gregorian, and eventually as the Vatican’s IT ethics guy.

In 2017, Cardinal Ravasi organized an event at the Italian embassy to the Holy See where Father Benanti gave a talk on the ethics of A.I. Microsoft officials in attendance were impressed and asked to stay in touch. That same year, the Italian government asked him to contribute to A.I. policy documents and the next year he successfully applied to sit on its commission for developing a national A.I. strategy.

Francis, he said, didn’t at first realize what Microsoft really did, but liked that Mr. Smith took out of his pocket one of the pope’s speeches on social media and showed the pontiff the concerns the business executive had highlighted and shared.

e said, arguing that as ancient Roman augurs turned to the flight of birds for direction, A.I., with its enormous grasp of our physical, emotional and preferential data, could be the new oracles, determining decisions, and replacing God with false idols.

“It’s something old that probably we think that we left behind,” the friar said, “but that is coming back.”

Early 2017 Gallup data echoed this. It showed 32 percent of Republicans suddenly liked the man who had just interfered in an American election.

Another poll I keep coming back to comes from Vanderbilt University last year. Even a year into Putin’s invasion of Ukraine, it showed a majority of MAGA Republicans (52 percent) said Putin was a better president than Joe Biden.

Maybe these Republicans just disliked Biden that much, or maybe they saw something admirable in Putin’s strongman mystique (a sentiment Trump has spent years cultivating). It certainly wouldn’t be the only evidence of Trump supporters flirting with the merits of authoritarianism.

Regardless, the data show how, when these loud voices on the right project softness on Putin or his invasion of Ukraine, there’s a willingness to hear that out — even if the base doesn’t actually like Putin. Influential voices on the right have spent years creating a permission structure for shrugging at things like Navalny’s death (see: Jamal Khashoggi).

there’s been little in the way of a desire to fight back against these noisy and influential forces — in part because that would entail going against the most powerful Republican and the onetime most influential conservative commentator.

The latest study looked at data from 126,972 people over the study period. It found that in 2015, 4.2 percent of Medicaid enrollees under the age of 17 in Maryland had overlapping prescriptions of three or more different classes of psychiatric medications. That figure rose to 4.6 percent in 2020.

he trickiest question may be how to prevent abuse. AI generators have technological boundaries, but not morals, and it’s relatively easy for users to trick them into creating content that depicts violence, rape, sex with children or a celebrity — or even a crush from work who never consented to appear

In some cases, the engines themselves are trained on porn images whose subjects didn’t explicitly agree to the new use. Currently, no federal laws protect the victims of nonconsensual deepfakes.

Adult entertainment is a giant industry accounting for a substantial chunk of all internet traffic: Major porn sites get more monthly visitors and page views than Amazon, Netflix, TikTok or Zoom

The industry is a habitual early adopter of new technology, from VHS to DVD to dot com. In the mid-2000s, porn companies set up massive sites where users upload and watch free videos, and ad sales foot the bills.

At last year’s AVN conference, Steven Jones said his peers looked at him “like he was crazy” when he talked about AI opportunities: “Nobody was interested.” This year, Jones said, he’s been “the belle of the ball.”

He called up his old business partner, and the two immediately spent about $550,000 securing the web domains for porn dot ai, deepfake dot com and deepfakes dot com, Jones said. “Lightspeed” was back.

One major model, Stable Diffusion, shares its code publicly, and some technologists have figured out how to edit the code to allow for sexual images

What keeps Jones up at night is people trying to use his company’s tools to generate images of abuse, he said. The models have some technological guardrails that make it difficult for users to render children, celebrities or acts of violence. But people are constantly looking for workarounds.

So with help from an angel investor he will not name, Jones hired five employees and a handful of offshore contractors and started building an image engine trained on bundles of freely available pornographic images, as well as thousands of nude photos from Jones’s own collection

Users create what Jones calls a “dream girl,” prompting the AI with descriptions of the character’s appearance, pose and setting. The nudes don’t portray real people, he said. Rather, the goal is to re-create a fantasy from the user’s imagination.

The AI-generated images got better, their computerized sheen growing steadily less noticeable. Jones grew his user base to 500,000 people, many of whom pay to generate more images than the five per day allotted to free accounts, he said. The site’s “power users” generate AI porn for 10 hours a day, he said.

Jones described the site as an “artists’ community” where people can explore their sexualities and fantasies in a safe space. Unlike some corners of the traditional adult industry, no performers are being pressured, underpaid or placed in harm’s way

And critically, consumers don’t have to wait for their favorite OnlyFans performer to come online or trawl through Pornhub to find the content they like.

Next comes AI-generated video — “porn’s holy grail,” Jones said. Eventually, he sees the technology becoming interactive, with users giving instructions to lifelike automated “performers.” Within two years, he said, there will be “fully AI cam girls,” a reference to creators who make solo sex content.

It costs $12 per day to rent a server from Amazon Web Services, he said, and generating a single picture requires users to have access to a corresponding server. His users have so far generated more than 1.6 million images.

Copyright holders including newspapers, photographers and artists have filed a slew of lawsuits against AI companies, claiming the companies trained their models on copyrighted content. If plaintiffs win, it could cut off the free-for-all that benefits entrepreneurs such as Jones.

But Jones’s plan to create consumer-friendly AI porn engines faced significant obstacles. The companies behind major image-generation models used technical boundaries to block “not safe for work” content and, without racy images to learn from, the models weren’t good at re-creating nude bodies or scenes.

Jones said his team takes down images that other users flag as abusive. Their list of blocked prompts currently contains 1,000 terms including “high school.”

“I see certain things people type in, and I just hope to God they’re trying to test the model, like we are. I hope they don’t actually want to see the things they’re typing in.

Peter Acworth, the owner of kink dot com, is trying to teach an AI porn generator to understand even subtler concepts, such as the difference between torture and consensual sexual bondage. For decades Acworth has pushed for spaces — in the real world and online — for consenting adults to explore nonconventional sexual interests. In 2006, he bought the San Francisco Armory, a castle-like building in the city’s Mission neighborhood, and turned it into a studio where his company filmed fetish porn until shuttering in 2017.

Now, Acworth is working with engineers to train an image-generation model on pictures of BDSM, an acronym for bondage and discipline, dominance and submission, sadism and masochism.

Others alluded to a porn apocalypse, with AI wiping out existing models of adult entertainment.“Look around,” said Christian Burke, head of engineering at the adult-industry payment app Melon, gesturing at performers huddled, laughing and hugging across the show floor. “This could look entirely different in a few years.”

But the age of AI brings few guarantees for the people, largely women, who appear in porn. Many have signed broad contracts granting companies the rights to reproduce their likeness in any medium for the rest of time

Not only could performers lose income, Walters said, they could find themselves in offensive or abusive scenes they never consented to.

Lana Smalls, a 23-year-old performer whose videos have been viewed 20 million times on Pornhub, said she’s had colleagues show up to shoots with major studios only to be surprised by sweeping AI clauses in their contracts.

“This industry is too fragmented for collective bargaining,” Spiegler said. “Plus, this industry doesn’t like rules.”

A glimmer of hope for Biden emerged toward the end of the survey: “If Donald Trump is found guilty and convicted this year of a felony — with Donald Trump as the Republican candidate and Joe Biden as the Democratic candidate — for whom would you vote?”In this hypothetical circumstance, Biden pulls ahead of Trump, 45-43.

when asked, “How willing would you be to vote for Donald Trump if he is convicted of a crime?” 53 percent of registered voters surveyed said they would be “unwilling” to do so; 46 percent said “very unwilling”; and 7 percent said “somewhat unwilling.”

Bloomberg-Morning Consult asked respondents whether they would be unwilling to vote for Trump if he were “sentenced to prison”: 55 percent said unwilling, 48 percent very unwilling and 7 percent said somewhat unwilling.

YouGov found that 45 percent of respondents were either unaware of or uncertain that Trump had “been charged with falsifying business records to conceal hush money payments to Stormy Daniels, a porn star” and that Trump “had been found liable for sexually assaulting and defaming writer E. Jean Carroll.”

The most recent NBC News poll, conducted at the end of January, has Trump favored over Biden by a substantial 47 percent to 42 percent.

In the RealClearPolitics compilation of polls that add Robert Kennedy Jr., Cornel West and Jill Stein to the mix, Trump’s lead over Biden more than doubles, to 4.8 points, 41.6 to 36.8 percent. Kennedy gets 13 percent, and West and Stein each get 2.1 percent.

Along with the threat posed by third-party candidates, two major crises — immigration and the Israeli assault on Hamas in Gaza — have become significant liabilities for the Biden campaign.

The Dec. 10-14 New York Times/Siena poll found that young voters, aged 18 to 29, favored Trump over Biden 49-43. These voters said they trusted Trump over Biden “to do a better job on the Israeli-Palestinian conflict” 49-30. In the 2020 election, Biden beat Trump among 18-to-29-year-old voters by 24 points, 60-36, according to exit polls, by far his biggest margin in all age groups.

“To win in 2024, Biden will need to convince voters that he is still the proud moderate they voted for in 2020,” Cowan wrote by email. “He has a lot of evidence on his side, but he still has a lot of convincing to do.”

Biden’s showing “middle- and working-class voters that he understands their values and takes seriously their concerns around crime, immigration and the economy — which, as polling makes clear, are often dramatically different and far more mainstream and centrist than those of college-educated elites who staff much of Washington — is the only way to win.”

While bitterly criticized by many liberals, the Supreme Court decision last year to ban affirmative action in public and private colleges will in fact reduce the salience of an issue that has historically worked to build support for Republicans.

Rising inflation has led to surging prices for groceries, cars and many essentials. The cost of a college education has skyrocketed in two decades, with the average student debt for federal loans at $37,000, according to the Education Department. Overall debts for Americans in their 30s jumped 27% from late 2019 to early 2023—steeper than for any other age group.

home prices have risen considerably, while wages haven’t kept pace.

“What Dave Ramsey really misses is any kind of social context,” says Morgan Sanner, a

She began paying off $48,000 in student loans (a Ramsey do) and also took out a loan to buy a 2016 Honda (a Ramsey don’t). Her rationale was that it was safer to pay extra for a more reliable car than a junker she could buy with cash. S

he feels these sorts of real-life decisions don’t factor into his advice.

When she saw a comment from Ramsey online about how people receiving pandemic stimulus payments were “pretty much screwed already,” Israel felt it came across as shaming people. The pandemic shutdowns ended a decadelong economic expansion for Black Americans, a disproportionate number of whom lost their jobs and relied on those checks.

“Moralizing financial decisions is very damaging to marginalized groups,” says Israel, who is Black.

Many young adults scratch their heads over his advice that people should let their credit scores dwindle and die.

People need a good credit score, says Mandy Phillips, a 39-year-old residential mortgage loan originator in Redding, Calif. She uses TikTok and other social media to educate millennials and Gen Z about home buying. Scores are vital when applying for mortgages and rentals.

She also takes issue with Ramsey’s advice to only obtain a home loan if you can take out a 15-year fixed-rate mortgage with a down payment of at least 10%. Few younger buyers can pay the large monthly bills of shorter-term mortgages.

“That may have worked years ago in the ’80s and ’90s, but that’s not something that is achievable for the average American,” Phillips says.

Housing is a particularly hot-button topic. He advises people to only buy a house with their lawfully wedded spouse. Yet many young adults are pooling their finances with partners, friends or roommates to buy their first homes. 

Ramsey is perhaps best known for advocating a “debt snowball method”: People with multiple loans pay off the smallest balances first, regardless of interest rate. As you knock out each loan, he says, the money you have to put toward larger debt snowballs. Seeing small wins motivates people to keep going, he says.Conventional economic theory would be to pay off the highest-interest loans first, says James Choi, a finance professor at the Yale School of Management, who has studied the advice of popular finance gurus.

Ramsey’s save-not-spend message sounds logical, young adults say. It’s his all-or-nothing approach that doesn’t work for them.

Kate Hindman, a 31-year-old administrative assistant in Pasadena, Calif., who has taken an anti-Ramsey stance on TikTok, ended up with $30,000 in credit-card debt after she and her husband faced income-reducing job changes. They’ve since turned it into a consolidation loan with an 8% interest rate and pay about $1,200 a month.

She wonders if the debt aversion is generational. Perhaps younger people are less willing to make huge sacrifices to be debt-free. Maybe carrying some amount of debt forever is a new normal.

after Mr. Trump won the election that year, the world seemed to blame tech companies for his victory. The resulting “techlash” against Facebook and others caused some industry leaders to reassess their political views, a trend that continued through the social and political turmoil of the pandemic.

The start-up industry has also been in a downturn since 2022, with higher interest rates sending capital fleeing from risky bets and a dismal market for initial public offerings crimping opportunities for investors to cash in on their valuable investments.

Some investors said they were frustrated that his pick for chair of the Federal Trade Commission, Lina Khan, has aggressively moved to block acquisitions, one of the main ways venture capitalists make money. They said they were also unhappy that Mr. Biden’s pick for head of the Securities and Exchange Commission, Gary Gensler, had been hostile to cryptocurrency companies.

Last month, Mr. Sacks, Mr. Thiel, Elon Musk and other prominent investors attended an “anti-Biden” dinner in Hollywood, where attendees discussed fund-raising and ways to oppose Democrats,

Some also said they disliked Mr. Biden’s proposal in March to raise taxes, including a 25 percent “billionaire tax” on certain holdings that could include start-up stock, as well as a higher tax rate on profits from successful investments.

“If you keep telling someone over and over that they’re evil, they’re eventually not going to like that,” he said. “I see that in venture capital.”

Some tech investors are also fuming over how Mr. Biden has handled foreign affairs and other issues.

Mr. Andreessen, a founder of Andreessen Horowitz, a prominent Silicon Valley venture firm, said in a recent podcast that “there are real issues with the Biden administration.” Under Mr. Trump, he said, the S.E.C. and F.T.C. would be headed by “very different kinds of people.” But a Trump presidency would not necessarily be a “clean win” either, he added.

Mr. Sacks said at the tech conference last week that he thought such taxes could kill the start-up industry’s system of offering stock options to founders and employees. “It’s a good reason for Silicon Valley to think really hard about who it wants to vote for,” he said.

“Tech, venture capital and Silicon Valley are looking at the current state of affairs and saying, ‘I’m not happy with either of those options,’” he said. “‘I can no longer count on Democrats to support tech issues, and I can no longer count on Republicans to support business issues.’”

Ben Horowitz, a founder of Andreessen Horowitz, wrote in a blog post last year that the firm would back any politician who supported “an optimistic technology-enabled future” and oppose any who did not. Andreessen Horowitz has donated $22 million to Fairshake, a political action group focused on supporting crypto-friendly lawmakers.

Venture investors are also networking with lawmakers in Washington at events like the Hill & Valley conference in March, organized by Jacob Helberg, an adviser to Palantir, a tech company co-founded by Mr. Thiel. At that event, tech executives and investors lobbied lawmakers against A.I. regulations and asked for more government spending to support the technology’s development in the United States.

This month, Mr. Helberg, who is married to Mr. Rabois, donated $1 million to the Trump campaign

In his 2007 history of the movement, Radicals for Capitalism, Brian Doherty identifies five key figures who most shaped the nascent ideology and its organized advocacy: author Ayn Rand, and economists Ludwig von Mises, F. A. Hayek, Milton Friedman, and Murray Rothbard

With one exception, all paired radical free-market and smaller government views with liberal tolerance and cosmopolitanism on social issues. None were religious, and Rand and Mises were both avowedly irreligious. Friedman and Hayek both trended more moderate and pragmatic, and also achieved the highest degree of mainstream intellectual recognitio

It was in Rothbard that the divergence began which today has culminated in the Libertarian Party’s convention transforming into a literal Trump rally

He was in many ways the most radical—an avowed anarchist—and the most marginal

he was also the most involved in creating a self-consciously libertarian movement and many of its institutions. In this he was aided by his skills as a prolific polemicist.

From the start, Trump’s brand of illiberal populism had more than a passing resemblance to Rothbard’s paleo strategy—minus, as many classical liberal critics had long predicted, any meaningful moves to actually shrink government

By accommodating and embracing conservative culture warriors, even including avowed white supremacists, Rothbard believed he was forming the basis of a political coalition to demolish modern big government

As he outlined in a 1992 essay, “Right Wing Populism: A Strategy for the Paleo Movement,” paleolibertarianism was an explicit alliance between small-government radicalism and the extremist far-right.

Across the loose constellation of libertarian think tanks, advocacy organizations, and electoral efforts in both the L.P. and the GOP, the embrace or rejection of Rothbard’s “paleo” idea was a source of perennial tension. Rothbard himself was involved for a time in both the Libertarian Party and the Cato Institute, co-founding the latter before being acrimoniously ejected after a few years.

the other end of the movement came to embrace the view of libertarianism as fundamentally an extension of the larger liberal tradition, continuous with a classical liberal political philosophy rather than a socially conservative one.

Free markets and limited government were still a big part of the picture, but in service to a vision of a dynamic and pluralistic free society.

As much as each held a dim view of the other, both continued to work under the “libertarian” label.

it included an open embrace of police brutality, fuming about the need to “dispense instant punishment” to “bums,” while railing against efforts to undo America’s white supremacist past. Later, opposition to immigration became one of the paleo posture’s signature issues.

it still embodied the burn-it-all-down reactionary ethos that saw tearing down established institutions as a necessary first step, even if that required an unrestrained autocrat

After the deadly 2017 neo-Nazi rally in Charlottesville, the then party leadership denounced the “blood and soil” rhetoric. But to the Rothbardians, this smacked of unacceptable wokeness. Within a few days, the Mises Caucus—named more for the ideas exhibited by the think-tank than the actual economist—was founded. Over the next few years, this group began launching hostile takeovers of state parties and then the national party. As they did so, the party increasingly adopted rhetoric that sounded more like the tiki-torch brigade than one committed to individual liberty.

The two camps within the movement—the cosmopolitan and the paleo—already strained to nearly the breaking point, went through the inevitable rupture. A number of differences and disagreements fueled the split, but most central was the divide into MAGA-friendly and anti-Trump sympathies.

It is no longer possible to ignore the conflict of visions about what kind of society freedom was supposed to yield. One in which private bigotry and established hierarchies were allowed free rein? Or an open and all-embracing one where different people and lifestyles disapproved by the traditional order could flourish?

The only way the libertarian movement’s demise could bring down libertarianism as a political-philosophical framework is if one expected the ideas themselves to disappear. Happily, a robust conviction of the centrality of individual liberty—or of the need to fight a tyrannical state—is in no danger of fully fading away.

ate which products the big-box chains stock.

But these stores exercise an outsize impact, she said, as they di

more than any restaurant, cookbook or online video, Asian grocers are driving this shift.

April 2023 to April 2024, sales of items in the “Asian/ethnic aisle” in U.S. grocery stores grew nearly four times more than overall sales

Miso, ghee, turmeric, soy sauce — their journeys to becoming widely available pantry staples all began with an Asian grocer.

H Mart is attracting the clientele of the big grocers, too. Thirty percent of its shoppers today are non Asian, Mr. Kwon said, and he’s made changes to continue drawing them

placing more emphasis on in-store tastings, explaining how ingredients are used and posting signs in both Korean and English. Similarly, at 99 Ranch, the announcements ring out in Mandarin and English, and Western music has been added to the store playlists.

Swetal Patel, a partner at Patel Brothers, said that as the chain has expanded its audience — he estimates that 20 to 25 percent of shoppers are now non South Asian

“I find it fascinating that there are things on the shelf that I have no idea what they are,” said Jill Connors, an economic development director for the city of Dubuque, Iowa, who started shopping at Hornbill Asian Market earlier this year because she and her husband became vegan and wanted high-quality tofu at a reasonable price.

The sheer variety of foods to explore “brings more joy to the shopping and cooking process,”

The roots of this phenomenon have been well studied. They include the cultural aggression of elite institutions and the predictable reaction to it, the nationalization of issues abetted by the collapse of local media and the pernicious effects of the antisocial media.

The gerrymandering that once exaggerated a dominant party’s political margin is no longer much of a factor; social clustering and these other factors have often done a more effective job than the political bosses ever did. In many jurisdictions today, one would have to reverse gerrymander, mixing geographies and crossing all kinds of legal boundary lines, to produce a truly competitive electorate.

Our campaign messages, as they had to, mostly centered on specific, new ideas: ethics reforms, access to health insurance, property tax caps, automatic tax refunds and many more, all couched in rhetoric stressing Indianans’ commonality as people, and the need for every part of the state to participate fully in its better future. Boy, is that passé.

Ideas fashioned not to stroke the erogenous zones of a riled-up minority of left or right, but to speak to the broader public in pursuit of a general election victory, evoke our common interest instead of our differences and antagonisms. But such campaigns rarely make sense these days.

In 2024, 30 states feature not only trifecta government but 2-to-1 majorities in at least one house. In that setting, both campaigns and governance look totally different than they do in genuine two-party polities.

Once in office, to make effective change, we had to engage with our Democratic counterparts, even in the years when we achieved full but narrow legislative control.

Political campaigns need not necessarily be dispiriting, narrowcasting mudfests. They can be vehicles, in fact the best possible vehicles, for floating constructive ideas to an attentive public. Ideas proposed by a successful campaign have a higher likelihood of enactment after the election

This year, our next governor ran a smart race and won his victory fair and square. The problem is that neither he, nor any of his competitors, had an incentive to offer their soon-to-be employers a sense of how Indiana could move forward.

What voters saw instead, besides attacks on each other, were political advertisements centered on “standing up to China,” taking on foreign drug cartels and closing the Mexican border. It became difficult to tell whether these folks were running for secretary of state or secretary of homeland security.

Wise policy and good government can and do emerge in lopsided states. But competition, always and everywhere, fosters innovation. In politics, it also compels a sensitivity and an outreach to the widest possible audiences.

The contours of the current system don’t conduce to those outcomes; until that changes, we have to hope for candidates who, elected by 5 percent of the state, somehow come to consider their duty of service to all the rest.

On one end is doubling down on technology

On the other end is to focus on strengthening the real-world human communities and neighborhoods we live in. Seth advocates for the latter and provides us with a roadmap to get there.

A prototypical community consists of most or all of the following:

We note that the first generation to move its social life onto social media platforms immediately became the loneliest generation on record. There is a spectrum of approaches that we as a society can take to address the crushing loneliness of Gen Z and Gen Alpha

A set of shared values, norms, and goals—a common culture that unifies and constrains;

A common identity, ideally based on a common history and narrative and recognition of mutual interdependence

Shared rituals that celebrate the group, its past, and future;

High levels of trust;

High levels of commitment, with limited options for (or high costs to) exit;

Recognition of and respect for common authority figures who guide the group’s decision-making;

More affluent children had many of their activities organized for them by their parents, putting them in a variety of highly structured functional groups with different kids rather than repeatedly playing freely with their neighbors.

A diverse range of skills and personalities that can contribute complementary things of value (e.g., money, time, expertise) to the group;

Role models who exhibit the cultural behaviors that the group should ideally replicate or at least aspire to;

Exhibiting a high degree of inclusiveness by actively seeking to encompass every member who shares the same identity or location;

Capacity to strongly encourage through moral suasion certain norms of conduct and, if necessary, sanction misconduct.

As we can see from this list, a community requires a commitment to a certain social order—and usually to a place—that, by definition, must constrain some choices. In return for security, support, and belonging, members surrender some of their freedom.

This explains why creating community in America today is so difficult—few want to compromise their ability to make choices.

This is especially true among those with the resources and/or capacity to relocate as soon as a better opportunity beckons—the very people whose leadership and role-modeling communities can ill afford to lose.

Why Kids Need Real-World Community

Much of a child’s learning and formation is absorbed from the environment rather than directly taught by adults; behavior is better shaped by modeling than by lecturing.

The institutions (e.g., schools, churches, and parents’ groups) and norms (e.g., regular family dinners, neighborhood play dates, and the expectation that adults will monitor streets) around us shape our kids' lives in ways we sometimes fail to consider because they are subtle

Keystone actors and institutions that bridge and bond different members together;

As I documented in a previous essay at After Babel, unsupervised, child-directed play was in decline long before kids had smartphones. Why? Because place-based institutions and the communities they support were in decline

This oversupervision or “coddling”—the subject of the 2018 book co-authored by Greg Lukianoff and Jon—made the attractions of smartphones and social media even more appealing.

Many praise the myriad benefits that smartphones and social media are said to bring; online connection can give a person a sense of “community,” we are told.  We can find new friends, discover just about any idea imaginable, network, and even date through our phones. We can video chat with hundreds of people simultaneously from far-flung locations. We can pursue learning largely untethered from any physical space. Based on all of this, it would be easy to assume that place doesn’t matter.

I disagree. Physical place actually matters far more than we realize, especially as our lives become ever more placeless.

As Jon writes in The Anxious Generation, only real-world (place-based) social relationships and interactions have the four features that have characterized human interactions for millions of years. Such interactions are embodied, they are  synchronous, they involve one-to-one or one-to-several communications, and they have a high bar for entry and exit.

The challenge today is that smartphones and other digital devices bring so many interesting experiences to children and adolescents that they cause a serious problem: They reduce interest in all non-screen-based forms of experience.

today, the term “community” is often used in ways that are aspirational and limitless (e.g., many online advertisements for new social networks)—quite different from the original meaning of the term.

Why? Perhaps fewer individuals have any experience of what community really means. Young people are marketed to and formed by the twin pursuits of convenience and choice while simultaneously being told that a person’s chief purpose is to express themselves (usually through consumption)

First, you can select a place to live based on its social wealth.

Community differs significantly from friendships, social networks, or what is experienced online. Whereas communities offer mutual support in times of good and bad and are bolstered by robust institutions and norms encouraging frequent, positive interactions, care and concern for one another, and ample opportunities to work together towards common goals, the alternatives typically fall short on these elements. 

they fall far short of actually producing community, which requires overlapping institutions and activities, things that are very hard to achieve if you don’t share a physical place with one another. 

online communities are also voluntary, with many being platforms built for expression or personal advancement. Few provide the diversity of personalities, experiences, income levels, and outlooks that were common in most neighborhoods a few decades ago

This vision of the good life is part of the next generation’s socialization. It feels “natural” to them, and yet it does little to prepare them for the demands and delights of membership in a community.   

If you are a parent and want to join or build a community to enmesh your kids in, what can you do? Here are a few ideas to get started.

Few provide the incentives to earn recognition through the force of character rather than a performative act about oneself. Few provide multifaceted psychological and practical support when needed for members who feel vulnerable or fall into practical difficulties. 

we visited, stayed overnight, met lots of people, and asked lots of questions. In the end, we chose the D.C. suburb where I live now—a warm, welcoming, and institutionally rich place.

Second, consider how you can befriend neighbors and other parents in your immediate vicinity

Try the 8 Front Door Challenge, which helps you plan and host a Get-Together with neighbors closest to you

Participate in organizations or activities in your neighborhood. Spend time in places where people congregate locally

Organize a block party or play street. Create a neighborly block. 

Third, leverage local institutions to build neighborhood community. Schools are best placed for this because of their direct ties to local families and kids, but libraries, local businesses, houses of worship, and any other entity with strong ties to your locale can play an important role

Working with the local library to organize activities in or geared towards your specific neighborhood would create an opportunity for residents to meet one another.

In general, it’s always easier if you find allies among your neighbors, build partnerships with existing institutions, and leverage the assets (cultural, environmental, educational, economic, etc.) you already have locally. Think incrementally, building momentum step by step rather than thinking there is a magic bullet.

Analyzing data covering a near universe of Americans born from 1978 to 1992, the researchers found that when employment among the poor parents of children in a community improves, those children are better off economically as adults

it doesn’t rely on whether a child’s own parents are employed: Outcomes also improve for children who simply grow up in a neighborhood where more parents have jobs. In other words, their own parents might be unemployed, but if their schoolmates’ parents work, their outcomes will be better.

: In places where parental employment deteriorates, the opposite happens—children do worse as adults.

“Growing up in a community where employment rates are higher for people in your race and class—if those employment rates are higher, the kids who grew up in those environments do better in the long run,”

For poor white children born in 1978, vast swaths of the U.S. were a land of opportunity. Apart from some areas, such as Appalachia and Rust Belt areas of Michigan and Ohio, these children overall had a good chance of making it to a higher rung on the income ladder than their parents. 

For poor white children born in 1992, the map was more constrained. While some parts of America, such as the upper Midwest, remained bastions of opportunity, much of the U.S. did worse. Children with parents at the 25th percentile who grew up in Milwaukee had lower income when they turned 27 in 2019—an inflation-adjusted $30,619—than their older counterparts had.

This dynamic, playing out across the country, led to a significant widening of the income gap between poor and well-off white children. A white child born to parents at the 25th percentile in 1978 made, on average, an inflation-adjusted $10,383 less at age 27 than a child born to parents at the 75th percentile. But for children born in 1992, that income difference was 27% larger at $13,202.

In contrast to the environment for poor white children, few places in America provided poor Black children born in 1978 much opportunity for advancement.

Kent County, Mich., is a little more than 100 miles directly east of Milwaukee, and home to Grand Rapids, another old-line manufacturing city. Black children born to parents at the 25th percentile by income in 1978 who grew up in Kent had an average household income of $17,029 at age 27. That put them at the 28th percentile by income, leaving them on essentially the same rung as their parents.

But poor Black children born in 1992 who grew up in Kent County did better. On average, a Black child at the 25th percentile in that birth cohort had inflation-adjusted household income of $23,547 at age 27, or 38% more than their 1978 counterpart. 

One thing that changed for poor white children compared with poor Black children was the relative share of their parents who were employed. 

In Milwaukee County, for example, the share of the parents of low-income white children who were employed went from 69.1% for children born in 1978 to 55.6% for children born in 1992—a 13.5 percentage point decline. Those employment declines were likely driven by the loss of more than a third of the county’s manufacturing jobs during those years. Children born at the 25th percentile in 1992 reached the 44th percentile on average, 4 percentage points lower than those born in 1978.

And this pattern of falling parental employment and worsening outcomes repeated itself across much of the country. In counties where employment rates among poor white parents fell sharply, such as Philadelphia County, Pa., the income ranks of poor white children in adulthood fell too. Mobility tended not to deteriorate as much for poor white children growing up in counties such as Sumner, Tenn., where parental employment held up better.

the experience in Kent was the general pattern across the country, with employment rates for the parents of poor Black children falling less than their poor white counterparts, or gaining. And as was the case with poor whites, the new research finds that changes in parental employment rates in a community were strongly associated with changes in children’s outcomes.

the researchers emphasize that it is not a zero-sum game, with mobility for poor Black people improving only because mobility for poor white people is falling: Indeed, places where opportunity for Black children improved most are also where white children did best.

In fact, the news from Wall Street lately has mostly been about retreat from climate goals, rather than recommitment. Banks and asset managers are withdrawing from international climate alliances and chafing at their rules. Regional banks are stepping up lending to fossil fuel producers. Sustainable investment funds have sustained crippling outflows, and many have collapsed.

In some cases, it’s a classic prisoner’s dilemma: If firms collectively shift to cleaner energy, a cooler climate benefits everyone more in the future

in the short term, each firm has an individual incentive to cash in on fossil fuels, making the transition much harder to achieve.

when it comes to avoiding climate damage to their own operations, the financial industry is genuinely struggling to comprehend what a warming future will mean.

A global compact of financial institutions made commitments worth $130 trillion to try to bring down emissions, confident that governments would create a regulatory and financial infrastructure to make those investments profitable. And in 2022, the Inflation Reduction Act passed.

What about the risk that climate change poses to the financial industry’s own investments, through more powerful hurricanes, heat waves that knock out power grids, wildfires that wipe out towns?

“If we think about what is going to be the best way to tilt your portfolios in the direction to benefit, it’s really difficult to do,”

“These will probably be great investments over 20 years, but when we’re judged over one to three years, it’s a little more challenging for us.”

Some firms cater to institutional clients, like public employee pension funds, that want combating climate change to be part of their investment strategy and are willing to take a short-term hit. But they aren’t a majority

And over the past couple of years, many banks and asset managers have shrunk from anything with a climate label for fear of losing business from states that frown on such concerns.

On top of that, the war in Ukraine scrambled the financial case for backing a rapid energy transition. Artificial intelligence and the movement toward greater electrification are adding demand for power, and renewables haven’t kept up

All of that is about the relative appeal of investments that would slow climate change

If you bought some of the largest solar-energy exchange-traded funds in early 2023, you would have lost about 20 percent of your money, while the rest of the stock market soared.

There is evidence that banks and investors price in some physical risk, but also that much of it still lurks, unheeded.

“I’m very, very worried about this, because insurance markets are this opaque weak link,” Dr. Sastry said. “There are parallels to some of the complex linkages that happened in 2008, where there is a weak and unregulated market that spills over to the banking system.”

Regulators worry that failing to understand those ripple effects could not just put a single bank in trouble but even become a contagion that would undermine the financial system.

But while the European Central Bank has made climate risk a consideration in its policy and oversight, the Federal Reserve has resisted taking a more active role, despite indications that extreme weather is feeding inflation and that high interest rates are slowing the transition to clean energy.

“The argument has been, ‘Unless we can convincingly show it’s part of our mandate, Congress should deal with it, it’s none of our business,’”

a much nearer-term uncertainty looms: the outcome of the U.S. election, which could determine whether further action is taken to address climate concerns or existing efforts are rolled back. An aggressive climate strategy might not fare as well during a second Trump administration, so it may seem wise to wait and see how it shakes out.

big companies are hesitating on climate-sensitive investments as November approaches, but says that “two things are misguided and quite dangerous about that hypothesis.”

One: States like California are establishing stricter rules for carbon-related financial disclosures and may step it up further if Republicans win

And two: Europe is phasing in a “carbon border adjustment mechanism,” which will punish polluting companies that want to do business there.

at the moment, even European financial institutions feel pressure from the United States, which — while providing some of the most generous subsidies so far for renewable-energy investment — has not imposed a price on carbon.

The global insurance company Allianz has set out a plan to align its investments in a way that would prevent warming above 1.5 degrees Celsius by the end of the century, if everyone else did the same. But it’s difficult to steer a portfolio to climate-friendly assets while other funds take on polluting companies and reap short-term profits for impatient clients.

“This is the main challenge for an asset manager, to really bring the customer along,” said Markus Zimmer, an Allianz economist. Asset managers don’t have sufficient tools on their own to move money out of polluting investments and into clean ones, if they want to stay in business,

“Of course it helps if the financial industry is somehow ambitious, but you cannot really substitute the lack of actions by policymakers,”

According to new research, the benefit is greater when decarbonization occurs faster, because the risks of extreme damage mount as time goes on. But without a uniform set of rules, someone is bound to scoop up the immediate profits, disadvantaging those that don’t — and the longer-term outcome is adverse for all.