Skip to main content

Home/ History Readings/ Group items tagged activity

Rss Feed Group items tagged

Filter: All | Bookmarks | Topics Simple Middle
6More

Dogecoin surges after Coinbase Pro lets some users trade it - CNN - 0 views

www.cnn.com/...index.html US Culture Economics Dodgecoin Investing Stocks stock-market cryptocurrency
shared by aidenborst on 03 Jun 21 - No Cached
  • Dogecoin is going to the moon again.
  • The canine-themed digital currency soared more than 25% Wednesday to about 40 cents. Investors cheered the news that crypto giant Coinbase (COIN) was planning to let users of its Coinbase Pro service buy and sell dogecoin.
  • By Wednesday night, Dogecoin had reached 42 cents, according to Coinbase.
  • ...3 more annotations...
  • "One of the most common requests we receive from customers is to be able to trade more assets on our platform," Coinbase said in a blog post Tuesday.
  • "We will make a separate announcement if and when this support is added," the company said.
  • But Musk is cheering the dogecoin comeback. Following the Coinbase announcement, Musk resurfaced a tweet of his from last July that showed a gigantic cloud with a dog's face on it and the text "dogecoin standard" that was approaching a landscape labeled "global financial system."Enter your email to receive CNN's nightcap newsletter. "close dialog"We read all day so you don’t have to.Get our nightly newsletter for all the top business stories you need to know.Please enter aboveSign me upBy subscribing you agree to ourprivacy policy.Success! Thanks for signing up for the CNN Business Nightcap newsletter."close dialog"/* effects for .bx-campaign-1334631 *//* custom css .bx-campaign-1334631 *//* custom css from creative 52221 */@keyframes bx-anim-1334631-spin { 100% { transform: rotate(360deg); }}/* rendered styles .bx-campaign-1334631 */.bxc.bx-campaign-1334631.bx-active-step-1 .bx-creative:before {min-height: 240px;}.bxc.bx-campaign-1334631.bx-active-step-1 .bx-creative {border-color: #00c59e;border-style: none;background-size: contain;background-color: #00c59e;}.bxc.bx-campaign-1334631.bx-active-step-1 .bx-creative> *:first-child {width: 780px;padding: 18px;vertical-align: middle;}@media all and (max-width: 736px) {.bxc.bx-campaign-1334631.bx-active-step-1 .bx-creative> *:first-child {width: 340px;padding: 18px 5px;}}.bxc.bx-campaign-1334631.bx-active-step-1 .bx-close {stroke: rgb(0, 0, 0);stroke-width: 1.5px;}@media all and (max-width: 736px) {.bxc.bx-campaign-1334631.bx-active-step-1 .bx-close {width: 30px;height: 30px;padding: 0 0 10px 10px;}}.bxc.bx-campaign-1334631 .bx-group-1334631-3EEWyi6 {width: 310px;text-align: left;}@media all and (max-width: 736px) {.bxc.bx-campaign-1334631 .bx-group-1334631-3EEWyi6 {text-align: center;}}.bxc.bx-campaign-1334631 .bx-element-1334631-GCtdzI1 {width: 290px;}@media all and (max-width: 736px) {.bxc.bx-campaign-1334631 .bx-element-1334631-GCtdzI1 {width: 230px;}}.bxc.bx-campaign-1334631 .bx-element-1334631-GCtdzI1> *:first-child {alt: CNN business Nightcap;}.bxc.bx-campaign-1334631 .bx-group-1334631-ZEoAbMC {width: 380px;padding: 15px 0 0 10px;text-align: left;}@media all and (max-width: 736px) {.bxc.bx-campaign-1334631 .bx-group-1334631-ZEoAbMC {width: 300px;padding: 18px 0 0;text-align: center;}}.bxc.bx-campaign-1334631 .bx-element-1334631-3bKsKxs {width: 100%;}@media all and (max-width: 736px) {.bxc.bx-campaign-1334631 .bx-element-1334631-3bKsKxs {width: 100%;}}@media all and (min-width: 1025px) {.bxc.bx-campaign-1334631 .bx-element-1334631-3bKsKxs {width: 500px;}}.bxc.bx-campaign-1334631 .bx-element-1334631-3bKsKxs> *:first-child {font-family: CNN,Helvetica Neue,Helvetica,Arial,Utkal,sans-serif;font-weight: 700;font-size: 20px;}@media all and (max-width: 736px) {.bxc.bx-campaign-1334631 .bx-element-1334631-3bKsKxs> *:first-child {font-size: 15px;min-width: auto;}}.bxc.bx-campaign-1334631 .bx-element-1334631-PQSiIV9 {width: 100%;}@media all and (max-width: 736px) {.bxc.bx-campaign-1334631 .bx-element-1334631-PQSiIV9 {width: 100%;}}@media all and (min-width: 1025px) {.bxc.bx-campaign-1334631 .bx-element-1334631-PQSiIV9 {width: 500px;}}.bxc.bx-campaign-1334631 .bx-element-1334631-PQSiIV9> *:first-child {font-family: CNN,Helvetica Neue,Helvetica,Arial,Utkal,sans-serif;font-weight: 400;font-size: 16px;padding: 8px 0 0;}@media all and (max-width: 736px) {.bxc.bx-campaign-1334631 .bx-element-1334631-PQSiIV9> *:first-child {font-size: 14px;padding: 6px 0 0;}}.bxc.bx-campaign-1334631 .bx-group-1334631-UY4jwxF {width: 695px;paddi
300More

Economics of Good and Evil: The Quest for Economic Meaning from Gilgamesh to Wall Stree... - 2 views

DIIGO_FILE_HOME/7ui9/74ec4c99e72deda4a64da10692a15bf6 economics history literature good evil theory philosophy philosophers Bible Gilgamesh Adam Smith
shared by Javier E on 15 Aug 19 - No Cached
  • Instead of self-confident and self-centered answers, the author humbly asks fundamental questions: What is economics? What is its meaning? Where does this new religion, as it is sometimes called, come from? What are its possibilities and its limitations and borders, if there are any? Why are we so dependent on permanent growing of growth and growth of growing of growth? Where did the idea of progress come from, and where is it leading us? Why are so many economic debates accompanied by obsession and fanaticism?
  • The majority of our political parties act with a narrow materialistic focus when, in their programs, they present the economy and finance first; only then, somewhere at the end, do we find culture as something pasted on or as a libation for a couple of madmen.
  • most of them—consciously or unconsciously—accept and spread the Marxist thesis of the economic base and the spiritual superstructure.
  • ...297 more annotations...
  • He tries to break free of narrow specialization and cross the boundaries between scientific disciplines. Expeditions beyond economics’ borders and its connection to history, philosophy, psychology, and ancient myths are not only refreshing, but necessary for understanding the world of the twenty-first century.
  • Reality is spun from stories, not from material. Zdeněk Neubauer
  • “The separation between the history of a science, its philosophy, and the science itself dissolves into thin air, and so does the separation between science and non-science; differences between the scientific and unscientific are vanishing.”
  • Outside of our history, we have nothing more.
  • The study of the history of a certain field is not, as is commonly held, a useless display of its blind alleys or a collection of the field’s trials and errors (until we got it right), but history is the fullest possible scope of study of a menu that the given field can offer.
  • History of thought helps us to get rid of the intellectual brainwashing of the age, to see through the intellectual fashion of the day, and to take a couple of steps back.
  • Almost all of the key concepts by which economics operates, both consciously and unconsciously, have a long history, and their roots extend predominantly outside the range of economics, and often completely beyond that of science.
  • That is the reason for this book: to look for economic thought in ancient myths and, vice versa, to look for myths in today’s economics.
  • stories; Adam Smith believed. As he puts it in The Theory of Moral Sentiments, “the desire of being believed, or the desire of persuading, of leading and directing other people, seems to be one of the strongest of all our natural desires.”
  • “The human mind is built to think in terms of narratives … in turn, much of human motivation comes from living through a story of our lives, a story that we tell to ourselves and that creates a framework of our motivation. Life could be just ‘one damn thing after another’ if it weren’t for such stories. The same is true for confidence in a nation, a company, or an institution. Great leaders are foremost creators of stories.”
  • contrary to what our textbooks say, economics is predominantly a normative field. Economics not only describes the world but is frequently about how the world should be (it should be effective, we have an ideal of perfect competition, an ideal of high-GDP growth in low inflation, the effort to achieve high competitiveness …). To this end, we create models, modern parables,
  • I will try to show that mathematics, models, equations, and statistics are just the tip of the iceberg of economics; that the biggest part of the iceberg of economic knowledge consists of everything else; and that disputes in economics are rather a battle of stories and various metanarratives than anything else.
  • Before it was emancipated as a field, economics lived happily within subsets of philosophy—ethics, for example—miles away from today’s concept of economics as a mathematical-allocative science that views “soft sciences” with a scorn born from positivistic arrogance. But our thousand-year “education” is built on a deeper, broader, and oftentimes more solid base. It is worth knowing about.
  • is a paradox that a field that primarily studies values wants to be value-free. One more paradox is this: A field that believes in the invisible hand of the market wants to be without mysteries.
  • mathematics at the core of economics, or is it just the icing of the cake, the tip of the iceberg of our field’s inquiry?
  • we seek to chart the development of the economic ethos. We ask questions that come before any economic thinking can begin—both philosophically and, to a degree, historically. The area here lies at the very borders of economics—and often beyond. We may refer to this as protoeconomics (to borrow a term from protosociology) or, perhaps more fittingly, metaeconomics (to borrow a term from metaphysics).
  • In this sense, “the study of economics is too narrow and too fragmentary to lead to valid insight, unless complemented and completed by a study of metaeconomics.”17
  • The more important elements of a culture or field of inquiry such as economics are found in fundamental assumptions that adherents of all the various systems within the epoch unconsciously presuppose. Such assumptions appear so obvious that people do not know what they are assuming, because no other way of putting things has ever occurred to them, as the philosopher Alfred Whitehead notes in Adventures of Ideas.
  • I argue that economic questions were with mankind long before Adam Smith. I argue that the search for values in economics did not start with Adam Smith but culminated with him.
  • We should go beyond economics and study what beliefs are “behind the scenes,” ideas that have often become the dominant yet unspoken assumptions in our theories. Economics is surprisingly full of tautologies that economists are predominantly unaware of. I
  • argue that economics should seek, discover, and talk about its own values, although we have been taught that economics is a value-free science. I argue that none of this is true and that there is more religion, myth, and archetype in economics than there is mathematics.
  • In a way, this is a study of the evolution of both homo economicus and, more importantly, the history of the animal spirits within him. This book tries to study the evolution of the rational as well as the emotional and irrational side of human beings.
  • I argue that his most influential contribution to economics was ethical. His other thoughts had been clearly expressed long before him, whether on specialization, or on the principle of the invisible hand of the market. I try to show that the principle of the invisible hand of the market is much more ancient and developed long before Adam Smith. Traces of it appear even in the Epic of Gilgamesh, Hebrew thought, and in Christianity, and it is expressly stated by Aristophanes and Thomas Aquinas.
  • This is not a book on the thorough history of economic thought. The author aims instead to supplement certain chapters on the history of economic thought with a broader perspective and analysis of the influences that often escape the notice of economists and the wider public.
  • Progress (Naturalness and Civilization)
  • The Economy of Good and Evil
  • from his beginnings, man has been marked as a naturally unnatural creature, who for unique reasons surrounds himself with external possessions. Insatiability, both material and spiritual, are basic human metacharacteristics, which appear as early as the oldest myths and stories.
  • the Hebrews, with linear time, and later the Christians gave us the ideal (or amplified the Hebrew ideal) we now embrace. Then the classical economists secularized progress. How did we come to today’s progression of progress, and growth for growth’s sake?
  • The Need for Greed: The History of Consumption and Labor
  • Metamathematics From where did economics get the concept of numbers as the very foundation of the world?
  • All of economics is, in the end, economics of good and evil. It is the telling of stories by people of people to people. Even the most sophisticated mathematical model is, de facto, a story, a parable, our effort to (rationally) grasp the world around us.
  • idea that we can manage to utilize our natural egoism, and that this evil is good for something, is an ancient philosophical and mythical concept. We will also look into the development of the ethos of homo economicus, the birth of “economic man.”
  • The History of Animal Spirits: Dreams Never Sleep
  • Masters of the Truth
  • Originally, truth was a domain of poems and stories, but today we perceive truth as something much more scientific, mathematical. Where does one go (to shop) for the truth? And who “has the truth” in our epoch?
  • Our animal spirits (something of a counterpart to rationality) are influenced by the archetype of the hero and our concept of what is good.
  • The entire history of ethics has been ruled by an effort to create a formula for the ethical rules of behavior. In the final chapter we will show the tautology of Max Utility, and we will discuss the concept of Max Good.
  • The History of the Invisible Hand of the Market and Homo Economicus
  • We understand “economics” to mean a broader field than just the production, distribution, and consumption of goods and services. We consider economics to be the study of human relations that are sometimes expressible in numbers, a study that deals with tradables, but one that also deals with nontradables (friendship, freedom, efficiency, growth).
  • When we mention economics in this book, we mean the mainstream perception of it, perhaps as best represented by Paul Samuelson.
  • By the term homo economicus, we mean the primary concept of economic anthropology. It comes from the concept of a rational individual, who, led by narrowly egotistical motives, sets out to maximize his benefit.
  • the Epic of Gilgamesh bears witness to the opposite—despite the fact that the first written clay fragments (such as notes and bookkeeping) of our ancestors may have been about business and war, the first written story is mainly about great friendship and adventure.
  • there is no mention of either money or war; for example, not once does anyone in the whole epic sell or purchase something.5 No nation conquers another, and we do not encounter a mention even of the threat of violence.
  • Gilgamesh becomes a hero not only due to his strength, but also due to discoveries and deeds whose importance were in large part economic—direct gaining of construction materials in the case of felling the cedar forest, stopping Enkidu from devastating Uruk’s economy, and discovering new desert routes during his expeditions.
  • Even today we live in Gilgamesh’s vision that human relations—and therefore humanity itself—are a disturbance to work and efficiency; that people would perform better if they did not “waste” their time and energy on nonproductive things.
  • is a story of nature and civilization, of heroism, defiance, and the battle against the gods, and evil; an epic about wisdom, immortality, and also futility.
  • But labour is unlike any other commodity. The work environment is of no concern for steel; we do not care about steel’s well-being.16
  • But it is in friendship where—often by-the-way, as a side product, an externality—ideas and deeds are frequently performed or created that together can altogether change the face of society.19 Friendship can go against an ingrained system in places where an individual does not have the courage to do so himself or herself.
  • As Joseph Stiglitz says, One of the great “tricks” (some say “insights”) of neoclassical economics is to treat labour like any other factor of production. Output is written as a function of inputs—steel, machines, and labour. The mathematics treats labour like any other commodity, lulling one into thinking of labour like an ordinary commodity, such as steel or plastic.
  • Even the earliest cultures were aware of the value of cooperation on the working level—today we call this collegiality, fellowship, or, if you want to use a desecrated term, comradeship. These “lesser relationships” are useful and necessary for society and for companies because work can be done much faster and more effectively if people get along with each other on a human level
  • But true friendship, which becomes one of the central themes of the Epic of Gilgamesh, comes from completely different material than teamwork. Friendship, as C. S. Lewis accurately describes it, is completely uneconomical, unbiological, unnecessary for civilization, and an unneeded relationship
  • Here we have a beautiful example of the power of friendship, one that knows how to transform (or break down) a system and change a person. Enkidu, sent to Gilgamesh as a punishment from the gods, in the end becomes his faithful friend, and together they set out against the gods. Gilgamesh would never have gathered the courage to do something like that on his own—nor would Enkidu.
  • Due to their friendship, Gilgamesh and Enkidu then intend to stand up to the gods themselves and turn a holy tree into mere (construction) material they can handle almost freely, thereby making it a part of the city-construct, part of the building material of civilization, thus “enslaving” that which originally was part of wild nature. This is a beautiful proto-example of the shifting of the borders between the sacred and profane (secular)—and to a certain extent also an early illustration of the idea that nature is there to provide cities and people with raw material and production resources.
  • started with Babylonians—rural nature becomes just a supplier of raw materials, resources (and humans the source of human resources). Nature is not the garden in which humans were created and placed, which they should care for and which they should reside in, but becomes a mere reservoir for natural (re)sources.
  • Even today, we often consider the domain of humanity (human relations, love, friendship, beauty, art, etc.) to be unproductive;
  • Both heroes change—each from opposite poles—into humans. In this context, a psychological dimension to the story may be useful: “Enkidu (…) is Gilgamesh’s alter ego, the dark, animal side of his soul, the complement to his restless heart. When Gilgamesh found Enkidu, he changed from a hated tyrant into the protector of his city. (…)
  • To be human seems to be somewhere in between, or both of these two. We
  • this moment of rebirth from an animal to a human state, the world’s oldest preserved epic implicitly hints at something highly important. Here we see what early cultures considered the beginning of civilization. Here is depicted the difference between people and animals or, better, savages. Here the epic quietly describes birth, the awakening of a conscious, civilized human. We are witnesses to the emancipation of humanity from animals,
  • The entire history of culture is dominated by an effort to become as independent as possible from the whims of nature.39 The more developed a civilization is, the more an individual is protected from nature and natural influences and knows how to create around him a constant or controllable environment to his liking.
  • The price we pay for independence from the whims of nature is dependence on our societies and civilizations. The more sophisticated a given society is as a whole, the less its members are able to survive on their own as individuals, without society.
  • The epic captures one of the greatest leaps in the development of the division of labor. Uruk itself is one of the oldest cities of all, and in the epic it reflects a historic step forward in specialization—in the direction of a new social city arrangement. Because of the city wall, people in the city can devote themselves to things other than worrying about their own safety, and they can continue to specialize more deeply.
  • Human life in the city gains a new dimension and suddenly it seems more natural to take up issues going beyond the life span of an individual. “The city wall symbolizes as well as founds the permanence of the city as an institution which will remain forever and give its inhabitants the certainty of unlimited safety, allowing them to start investing with an outlook reaching far beyond the borders of individual life.
  • The wall around the city of Uruk is, among other things, a symbol of an internal distancing from nature, a symbol of revolts against submission to laws that do not come under the control of man and that man can at most discover and use to his benefit.
  • “The chief thing which the common-sense individual wants is not satisfactions for the wants he had, but more, and better wants.”47
  • If a consumer buys something, theoretically it should rid him of one of his needs—and the aggregate of things they need should be decreased by one item. In reality, though, the aggregate of “I want to have” expands together with the growing aggregate of “I have.”
  • can be said that Enkidu was therefore happy in his natural state, because all of his needs were satiated. On the other hand, with people, it appears that the more a person has, the more developed and richer, the greater the number of his needs (including the unsaturated ones).
  • the Old Testament, this relationship is perceived completely differently. Man (humanity) is created in nature, in a garden. Man was supposed to care for the Garden of Eden and live in harmony with nature and the animals. Soon after creation, man walks naked and is not ashamed, de facto the same as the animals. What is characteristic is that man dresses (the natural state of creation itself is not enough for him), and he (literally and figuratively) covers52 himself—in shame after the fall.53
  • Nature is where one goes to hunt, collect crops, or gather the harvest. It is perceived as the saturator of our needs and nothing more. One goes back to the city to sleep and be “human.” On the contrary, evil resides in nature. Humbaba lives in the cedar forest, which also happens to be the reason to completely eradicate it.
  • Symbolically, then, we can view the entire issue from the standpoint of the epic in the following way: Our nature is insufficient, bad, evil, and good (humane) occurs only after emancipation from nature (from naturalness), through culturing and education. Humanity is considered as being in civilization.
  • The city was frequently (at least in older Jewish writings) a symbol of sin, degeneration, and decadence—nonhumanity. The Hebrews were originally a nomadic nation, one that avoided cities. It is no accident that the first important city57 mentioned in the Bible is proud Babylon,58 which God later turns to dust.
  • is enough, for example, to read the Book of Revelation to see how the vision of paradise developed from the deep Old Testament period, when paradise was a garden. John describes his vision of heaven as a city—paradise is in New Jerusalem, a city where the dimensions of the walls(!) are described in detail, as are the golden streets and gates of pearl.
  • Hebrews later also chose a king (despite the unanimous opposition of God’s prophets) and settled in cities, where they eventually founded the Lord’s Tabernacle and built a temple for Him. The city of Jerusalem later gained an illustrious position in all of religion.
  • this time Christianity (as well as the influence of the Greeks) does not consider human naturalness to be an unambiguous good, and it does not have such an idyllic relationship to nature as the Old Testament prophets.
  • If a tendency toward good is not naturally endowed in people, it must be imputed from above through violence or at least the threat of violence.
  • If we were to look at human naturalness as a good, then collective social actions need a much weaker ruling hand. If people themselves have a natural tendency (propensity) toward good, this role does not have to be supplied by the state, ruler, or, if you wish, Leviathan.
  • How does this affect economics?
  • us return for the last time to the humanization of the wild Enkidu, which is a process we can perceive with a bit of imagination as the first seed of the principle of the market’s invisible hand, and therefore the parallels with one of the central schematics of economic thinking.
  • Sometimes it is better to “harness the devil to the plow” than to fight with him. Instead of summoning up enormous energy in the fight against evil, it is better to use its own energy to reach a goal we desire; setting up a mill on the turbulent river instead of futile efforts to remove the current. This is also how Saint Prokop approached it in one of the oldest Czech legends.
  • Enkidu caused damage and it was impossible to fight against him. But with the help of a trap, trick, this evil was transformed into something that greatly benefited civilization.
  • By culturing and “domesticating” Enkidu, humanity tamed the uncontrollable wild and chaotic evil
  • Enkidu devastated the doings (the external, outside-the-walls) of the city. But he was later harnessed and fights at the side of civilization against nature, naturalness, the natural state of things.
  • A similar motif appears a thousand years after the reversal, which is well known even to noneconomists as the central idea of economics: the invisible hand of the market.
  • A similar story (reforming something animally wild and uncultivated in civilizational achievement) is used by Thomas Aquinas in his teachings. Several centuries later, this idea is fully emancipated in the hands of Bernard Mandeville and his Fable of the Bees: or, Private Vices, Publick Benefits. The economic and political aspects of this idea are—often incorrectly—ascribed to Adam Smith.
  • Here the individual does not try anymore to maximize his goods or profits, but what is important is writing his name in human memory in the form of heroic acts or deeds.
  • immortality, one connected with letters and the cult of the word: A name and especially a written name survives the body.”77
  • After this disappointment, he comes to the edge of the sea, where the innkeeper Siduri lives. As tonic for his sorrow, she offers him the garden of bliss, a sort of hedonistic fortress of carpe diem, where a person comes to terms with his mortality and at least in the course of the end of his life maximizes earthly pleasures, or earthly utility.
  • In the second stage, after finding his friend Enkidu, Gilgamesh abandons the wall and sets out beyond the city to maximalize heroism. “In his (…) search of immortal life, Gilgamesh
  • The hero refuses hedonism in the sense of maximizing terrestrial pleasure and throws himself into things that will exceed his life. In the blink of an eye, the epic turns on its head the entire utility maximization role that mainstream economics has tirelessly tried to sew on people as a part of their nature.81
  • It is simpler to observe the main features of our civilization at a time when the picture was more readable—at a time when our civilization was just being born and was still “half-naked.” In other words, we have tried to dig down to the bedrock of our written civilization;
  • today remember Gilgamesh for his story of heroic friendship with Enkidu, not for his wall, which no longer reaches monumental heights.
  • the eleventh and final tablet, Gilgamesh again loses what he sought. Like Sisyphus, he misses his goal just before the climax
  • is there something from it that is valid today? Have we found in Gilgamesh certain archetypes that are in us to this day?
  • The very existence of questions similar to today’s economic ones can be considered as the first observation. The first written considerations of the people of that time were not so different from those today. In other words: The epic is understandable for us, and we can identify with it.
  • We have also been witnesses to the very beginnings of man’s culturing—a great drama based on a liberation and then a distancing from the natural state.
  • Let us take this as a memento in the direction of our restlessness, our inherited dissatisfaction and the volatility connected to it. Considering that they have lasted five thousand years and to this day we find ourselves in harmony with a certain feeling of futility, perhaps these characteristics are inherent in man.
  • Gilgamesh had a wall built that divided the city from wild nature and created a space for the first human culture. Nevertheless, “not even far-reaching works of civilization could satisfy human desire.”
  • Friendship shows us new, unsuspected adventures, gives us the opportunity to leave the wall and to become neither its builder nor its part—to not be another brick in the wall.
  • with the phenomenon of the creation of the city, we have seen how specialization and the accumulation of wealth was born, how holy nature was transformed into a secular supplier of resources, and also how humans’ individualistic ego was emancipated.
  • to change the system, to break down that which is standing and go on an expedition against the gods (to awaken, from naïveté to awakening) requires friendship.
  • For small acts (hunting together, work in a factory), small love is enough: Camaraderie. For great acts, however, great love is necessary, real love: Friendship. Friendship that eludes the economic understanding of quid pro quo. Friendship gives. One friend gives (fully) for the other. That is friendship for life and death,
  • The thought that humanity comes at the expense of efficiency is just as old as humanity itself—as we have shown, subjects without emotion are the ideal of many tyrants.
  • The epic later crashes this idea through the friendship of Gilgamesh and Enkidu. Friendship—the biologically least essential love, which at first sight appears to be unnecessary
  • less a civilized, city person is dependent on nature, the more he or she is dependent on the rest of society. Like Enkidu, we have exchanged nature for society; harmony with (incalculable) nature for harmony with (incalculable) man.
  • human nature good or evil? To this day these questions are key for economic policy: If we believe that man is evil in his nature, therefore that a person himself is dog eat dog (animal), then the hard hand of a ruler is called for. If we believe that people in and of themselves, in their nature, gravitate toward good, then it is possible to loosen up the reins and live in a society that is more laissez-faire.
  • For a concept of historical progress, for the undeification of heroes, rulers, and nature, mankind had to wait for the Hebrews.
  • Because nature is not undeified, it is beyond consideration to explore it, let alone intervene in it (unless a person was a two-thirds god like Gilgamesh). It
  • They practiced money lending, traded in many assets (…) and especially were engaged in the trading of shares on capital markets, worked in currency exchange and frequently figured as mediators in financial transactions (…), they functioned as bankers and participated in emissions of all possible forms.
  • As regards modern capitalism (as opposed to the ancient and medieval periods) … there are activities in it which are, in certain forms, inherently (and completely necessarily) present—both from an economic and legal standpoint.7
  • As early as the “dark” ages, the Jews commonly used economic tools that were in many ways ahead of their time and that later became key elements of the modern economy:
  • Gilgamesh’s story ends where it began. There is a consistency in this with Greek myths and fables: At the end of the story, no progress occurs, no essential historic change; the story is set in indefinite time, something of a temporal limbo.
  • Jews believe in historical progress, and that progress is in this world.
  • For a nation originally based on nomadism, where did this Jewish business ethos come from? And can the Hebrews truly be considered as the architects of the values that set the direction of our civilization’s economic thought?
  • Hebrew religiosity is therefore strongly connected with this world, not with any abstract world, and those who take pleasure in worldly possessions are not a priori doing anything wrong.
  • PROGRESS: A SECULARIZED RELIGION One of the things the writers of the Old Testament gave to mankind is the idea and notion of progress. The Old Testament stories have their development; they change the history of the Jewish nation and tie in to each other. The Jewish understanding of time is linear—it has a beginning and an end.
  • The observance of God’s Commandments in Judaism leads not to some ethereal other world, but to an abundance of material goods (Genesis 49:25–26, Leviticus 26:3–13, Deuteronomy 28:1–13) (…) There are no accusing fingers pointed at
  • There are no echoes of asceticism nor for the cleansing and spiritual effect of poverty. It is fitting therefore, that the founders of Judaism, the Patriarchs Abraham, Isaac and Jacob, were all wealthy men.12
  • about due to a linear understanding of history. If history has a beginning as well as an end, and they are not the same point, then exploration suddenly makes sense in areas where the fruits are borne only in the next generation.
  • What’s more, economic progress has almost become an assumption of modern functional societies. We expect growth. We take it automatically. Today, if nothing “new” happens, if GDP does not grow (we say it stagnates) for several quarters, we consider it an anomaly.
  • however, the idea of progress itself underwent major changes, and today we perceive it very differently. As opposed to the original spiritual conceptions, today we perceive progress almost exclusively in an economic or scientific-technological sense.
  • Because care for the soul has today been replaced by care for external things,
  • This is why we must constantly grow, because we (deep down and often implicitly) believe that we are headed toward an (economic) paradise on Earth.
  • Only since the period of scientific-technological revolution (and at a time when economics was born as an independent field) is material progress automatically assumed.
  • Jewish thought is the most grounded, most realistic school of thought of all those that have influenced our culture.17 An abstract world of ideas was unknown to the Jews. To this day it is still forbidden to even depict God, people, and animals in symbols, paintings, statues, and drawings.
  • economists have become key figures of great importance in our time (Kacířské eseje o filosofii dějin [Heretical Essays in the Philosophy of History]). They are expected to perform interpretations of reality, give prophetic services (macroeconomic forecasts), reshape reality (mitigate the impacts of the crisis, speed up growth), and, in the long run, provide leadership on the way to the Promised Land—paradise on Earth.
  • REALISM AND ANTIASCETICISM Aside from ideas of progress, the Hebrews brought another very fundamental contribution to our culture: The desacralization of heroes, nature, and rulers.
  • Voltaire writes: “It certain fact is, that in his public laws he [Moses] never so much as once made mention of a life to come, limiting all punishments and all rewards to the present life.”21
  • As opposed to Christianity, the concept of an extraterrestrial paradise or heaven was not developed much in Hebrew thought.19 The paradise of the Israelites—Eden—was originally placed on Earth at a given place in Mesopotamia20 and at a given time,
  • The Hebrews consider the world to be real—not just a shadow reflection of a better world somewhere in the cloud of ideas, something the usual interpretation of history ascribes to Plato. The soul does not struggle against the body and is not its prisoner, as Augustine would write later.
  • The land, the world, the body, and material reality are for Jews the paramount setting for divine history, the pinnacle of creation. This idea is the conditio sine qua non of the development of economics, something of an utterly earthly making,
  • The mythology of the hero-king was strongly developed in that period, which Claire Lalouette summarizes into these basic characteristics: Beauty (a perfect face, on which it is “pleasant to look upon,” but also “beauty,” expressed in the Egyptian word nefer, not only means aesthetics, but contains moral qualities as well),
  • THE HERO AND HIS UNDEIFICATION: THE DREAM NEVER SLEEPS The concept of the hero is more important than it might appear. It may be the remote origin of Keynes’s animal spirits, or the desire to follow a kind of internal archetype that a given individual accepts as his own and that society values.
  • This internal animator of ours, our internal mover, this dream, never sleeps and it influences our behavior—including economic behavior—more than we want to realize.
  • manliness and strength,28 knowledge and intelligence,29 wisdom and understanding, vigilance and performance, fame and renown (fame which overcomes enemies because “a thousand men would not be able to stand firmly in his presence”);30 the hero is a good shepherd (who takes care of his subordinates), is a copper-clad rampart, the shield of the land, and the defender of heroes.
  • Each of us probably has a sort of “hero within”—a kind of internal role-model, template, an example that we (knowingly or not) follow. It is very important what kind of archetype it is, because its role is dominantly irrational and changes depending on time and the given civilization.
  • The oldest was the so-called Trickster—a fraudster; then the culture bearer—Rabbit; the musclebound hero called Redhorn; and finally the most developed form of hero: the Twins.
  • the Egyptian ruler, just as the Sumerian, was partly a god, or the son of a god.31
  • Jacob defrauds his father Isaac and steals his brother Esau’s blessing of the firstborn. Moses murders an Egyptian. King David seduces the wife of his military commander and then has him killed. In his old age, King Solomon turns to pagan idols, and so on.
  • Anthropology knows several archetypes of heroes. The Polish-born American anthropologist Paul Radin examined the myths of North American Indians and, for example, in his most influential book, The Trickster, he describes their four basic archetypes of heroes.
  • The Torah’s heroes (if that term can be used at all) frequently make mistakes and their mistakes are carefully recorded in the Bible—maybe precisely so that none of them could be deified.32
  • We do not have to go far for examples. Noah gets so drunk he becomes a disgrace; Lot lets his own daughters seduce him in a similar state of drunkenness. Abraham lies and (repeatedly) tries to sell his wife as a concubine.
  • the Hebrew heroes correspond most to the Tricksters, the Culture Bearers, and the Twins. The divine muscleman, that dominant symbol we think of when we say hero, is absent here.
  • To a certain extent it can be said that the Hebrews—and later Christianity—added another archetype, the archetype of the heroic Sufferer.35 Job
  • Undeification, however, does not mean a call to pillage or desecration; man was put here to take care of nature (see the story of the Garden of Eden or the symbolism of the naming of the animals). This protection and care of nature is also related to the idea of progress
  • For the heroes who moved our civilization to where it is today, the heroic archetypes of the cunning trickster, culture bearer, and sufferer are rather more appropriate.
  • the Old Testament strongly emphasizes the undeification of nature.37 Nature is God’s creation, which speaks of divinity but is not the domain of moody gods
  • This is very important for democratic capitalism, because the Jewish heroic archetype lays the groundwork much better for the development of the later phenomenon of the hero, which better suits life as we know it today. “The heroes laid down their arms and set about trading to become wealthy.”
  • in an Old Testament context, the pharaoh was a mere man (whom one could disagree with, and who could be resisted!).
  • RULERS ARE MERE MEN In a similar historical context, the Old Testament teachings carried out a similar desacralization of rulers, the so-called bearers of economic policy.
  • Ultimately the entire idea of a political ruler stood against the Lord’s will, which is explicitly presented in the Torah. The Lord unequivocally preferred the judge as the highest form of rule—an
  • The needs of future generations will have to be considered; after all humankind are the guardians of God’s world. Waste of natural resources, whether privately owned or nationally owned is forbidden.”39
  • Politics lost its character of divine infallibility, and political issues were subject to questioning. Economic policy could become a subject of examination.
  • 44 God first creates with the word and then on individual days He divides light from darkness, water from dry land, day from night, and so forth—and He gives order to things.45 The world is created orderly— it is wisely, reasonably put together. The way of the world is put together at least partially46 decipherably by any other wise and reasonable being who honors rational rules.
  • which for the methodology of science and economics is very important because disorder and chaos are difficult to examine scientifically.43 Faith in some kind of rational and logical order in a system (society, the economy) is a silent assumption of any (economic) examination.
  • THE PRAISE OF ORDER AND WISDOM: MAN AS A PERFECTER OF CREATION The created world has an order of sorts, an order recognizable by us as people,
  • From the very beginning, when God distances Himself from the entire idea, there is an anticipation that there is nothing holy, let alone divine, in politics. Rulers make mistakes, and it is possible to subject them to tough criticism—which frequently occurs indiscriminately through the prophets in the Old Testament.
  • Hebrew culture laid the foundations for the scientific examination of the world.
  • Examining the world is therefore an absolutely legitimate activity, and one that is even requested by God—it is a kind of participation in the Creator’s work.51 Man is called on to understand himself and his surroundings and to use his knowledge for good.
  • I was there when he set heavens in place, when he marked out the horizon on the face of the deep (…) Then I was the craftsman at his side.47
  • There are more urgings to gain wisdom in the Old Testament. “Wisdom calls aloud in the street (…): ‘How long will you simple ones love your simple ways?’”49 Or several chapters later: “Wisdom is supreme; therefore get wisdom. Though it cost all you have, get understanding.”50
  • examination is not forbidden. The fact that order can be grasped by human reason is another unspoken assumption that serves as a cornerstone of any scientific examination.
  • then, my sons, listen to me; blessed are those who keep my ways (…) Blessed is the man who listens to me, watching daily at my doors, waiting at my doorway. For whoever finds me finds life and receives favor from the Lord.
  • the rational examination of nature has its roots, surprisingly, in religion.
  • The Lord brought me forth as the first of his works, before his deeds of old. I was appointed from eternity, from the beginning, before the world began. When there were no oceans, I was given birth, when there were no springs abounding with water, before the mountains were settled in place,
  • The Book of Proverbs emphasizes specifically several times that it was wisdom that was present at the creation of the world. Wisdom personified calls out:
  • The last act, final stroke of the brush of creation, naming of the animals—this act is given to a human, it is not done by God, as one would expect. Man was given the task of completing the act of creation that the Lord began:
  • MAN AS A FINISHER OF CREATION The creation of the world, as it is explained in Jewish teachings, is described in the Book of Genesis. Here God (i) creates, (ii) separates, and (iii) names [my emphasis]:
  • Naming is a symbolic expression. In Jewish culture (and also in our culture to this day), the right to name meant sovereign rights and belonged, for example, to explorers (new places), inventors (new principles), or parents (children)—that is, to those who were there at the genesis, at the origin. This right was handed over by God to mankind.
  • The Naming itself (the capital N is appropriate) traditionally belongs to the crowning act of the Creator and represents a kind of grand finale of creation, the last move of the brush to complete the picture—a signature of the master.
  • Without naming, reality does not exist; it is created together with language. Wittgenstein tightly names this in his tractatus—the limits of our language are the limits of our world.53
  • He invented (fictitiously and completely abstractly!) a framework that was generally accepted and soon “made into” reality. Marx invented similarly; he created the notion of class exploitation. Through his idea, the perception of history and reality was changed for a large part of the world for nearly an entire century.
  • Reality is not a given; it is not passive. Perceiving reality and “facts” requires man’s active participation. It is man who must take the last step, an act (and we
  • How does this relate to economics? Reality itself, our “objective” world, is cocreated, man himself participates in the creation; creation, which is somewhat constantly being re-created.
  • Our scientific models put the finishing touches on reality, because (1) they interpret, (2) they give phenomena a name, (3) they enable us to classify the world and phenomena according to logical forms, and (4) through these models we de facto perceive reality.
  • When man finds a new linguistic framework or analytical model, or stops using the old one, he molds or remolds reality. Models are only in our heads; they are not “in objective reality.” In this sense, Newton invented (not merely discovered!) gravity.
  • A real-ization act on our part represents the creation of a construct, the imputation of sense and order (which is beautifully expressed by the biblical act of naming, or categorization, sorting, ordering).
  • Keynes enters into the history of economic thought from the same intellectual cadence; his greatest contribution to economics was precisely the resurrection of the imperceptible—for example in the form of animal spirits or uncertainty. The economist Piero Mini even ascribes Keynes’s doubting and rebellious approach to his almost Talmudic education.63
  • God connects man with the task of guarding and protecting the Garden of Eden, and thus man actually cocreates the cultural landscape. The Czech philosopher Zdeněk Neubauer also describes this: “Such is reality, and it is so deep that it willingly crystallizes into worlds. Therefore I profess that reality is a creation and not a place of occurrence for objectively given phenomena.”61
  • in this viewpoint it is possible to see how Jewish thought is mystical—it admits the role of the incomprehensible. Therefore, through its groundedness, Jewish thought indulges mystery and defends itself against a mechanistic-causal explanation of the world: “The Jewish way of thinking, according to Veblen, emphasizes the spiritual, the miraculous, the intangible.
  • The Jews believed the exact opposite. The world is created by a good God, and evil appears in it as a result of immoral human acts. Evil, therefore, is induced by man.66 History unwinds according to the morality of human acts.
  • What’s more, history seems to be based on morals; morals seem to be the key determining factors of history. For the Hebrews, history proceeds according to how morally its actors behave.
  • The Sumerians believed in dualism—good and evil deities exist, and the earth of people becomes their passive battlefield.
  • GOOD AND EVIL IN US: A MORAL EXPLANATION OF WELL-BEING We have seen that in the Epic of Gilgamesh, good and evil are not yet addressed systematically on a moral level.
  • This was not about moral-human evil, but rather a kind of natural evil. It is as if good and evil were not touched by morality at all. Evil simply occurred. Period.
  • the epic, good and evil are not envisaged morally—they are not the result of an (a)moral act. Evil was not associated with free moral action or individual will.
  • Hebrew thought, on the other hand, deals intensively with moral good and evil. A moral dimension touches the core of its stories.65
  • discrepancy between savings and investment, and others are convinced of the monetary essence
  • The entire history of the Jewish nation is interpreted and perceived in terms of morality. Morality has become, so to speak, a mover and shaker of Hebrew history.
  • sunspots. The Hebrews came up with the idea that morals were behind good and bad years, behind the economic cycle. But we would be getting ahead of ourselves. Pharaoh’s Dream: Joseph and the First Business Cycle To
  • It is the Pharaoh’s well-known dream of seven fat and seven lean cows, which he told to Joseph, the son of Jacob. Joseph interpreted the dream as a macroeconomic prediction of sorts: Seven years of abundance were to be followed by seven years of poverty, famine, and misery.
  • Self-Contradicting Prophecy Here, let’s make several observations on this: Through taxation74 on the level of one-fifth of a crop75 in good years to save the crop and then open granaries in bad years, the prophecy was de facto prevented (prosperous years were limited and hunger averted—through a predecessor of fiscal stabilization).
  • The Old Testament prophesies therefore were not any deterministic look into the future, but warnings and strategic variations of the possible, which demanded some kind of reaction. If the reaction was adequate, what was prophesied would frequently not occur at all.
  • This principle stands directly against the self-fulfilling prophecy,80 the well-known concept of social science. Certain prophecies become self-fulfilling when expressed (and believed) while others become self-contradicting prophecies when pronounced (and believed).
  • If the threat is anticipated, it is possible to totally or at least partially avoid it. Neither Joseph nor the pharaoh had the power to avoid bounty or crop failure (in this the dream interpretation was true and the appearance of the future mystical), but they avoided the impacts and implications of the prophecy (in this the interpretation of the dream was “false”)—famine did not ultimately occur in Egypt, and this was due to the application of reasonable and very intuitive economic policy.
  • Let us further note that the first “macroeconomic forecast” appears in a dream.
  • back to Torah: Later in this story we will notice that there is no reason offered as to why the cycle occurs (that will come later). Fat years will simply come, and then lean years after them.
  • Moral Explanation of a Business Cycle That is fundamentally different from later Hebrew interpretations, when the Jewish nation tries to offer reasons why the nation fared well or poorly. And those reasons are moral.
  • If you pay attention to these laws and are careful to follow them, then the Lord your God will keep his covenant of love with you, as he swore to your forefathers. He will love you and bless you and increase your numbers.
  • Only in recent times have some currents of economics again become aware of the importance of morals and trust in the form of measuring the quality of institutions, the level of justice, business ethics, corruption, and so forth, and examining their influence on the economy,
  • From today’s perspective, we can state that the moral dimension entirely disappeared from economic thought for a long time, especially due to the implementation of Mandeville’s concept of private vices that contrarily support the public welfare
  • Without being timid, we can say this is the first documented attempt to explain the economic cycle. The economic cycle, the explanation of which is to this day a mystery to economists, is explained morally in the Old Testament.
  • But how do we consolidate these two conflicting interpretations of the economic cycle: Can ethics be responsible for it or not? Can we influence reality around us through our acts?
  • it is not within the scope of this book to answer that question; justice has been done to the question if it manages to sketch out the main contours of possible searches for answers.
  • THE ECONOMICS OF GOOD AND EVIL: DOES GOOD PAY OFF? This is probably the most difficult moral problem we could ask.
  • Kant, the most important modern thinker in the area of ethics, answers on the contrary that if we carry out a “moral” act on the basis of economic calculus (therefore we carry out an hedonistic consideration; see below) in the expectation of later recompense, its morality is lost. Recompense, according to the strict Kant, annuls ethics.
  • Inquiring about the economics of good and evil, however, is not that easy. Where would Kant’s “moral dimension of ethics” go if ethics paid? If we do good for profit, the question of ethics becomes a mere question of rationality.
  • Job’s friends try to show that he must have sinned in some way and, in doing so, deserved God’s punishment. They are absolutely unable to imagine a situation in which Job, as a righteous man, would suffer without (moral) cause. Nevertheless, Job insists that he deserves no punishment because he has committed no offense: “God has wronged me and drawn his net around me.”94
  • But Job remains righteous, even though it does not pay to do so: Though he slay me, yet will I hope in him.95 And till I die, I will not deny my integrity I will maintain my righteousness and never let go of it; my conscience will not reproach me as long as I live.96
  • He remains righteous, even if his only reward is death. What economic advantage could he have from that?
  • morals cannot be considered in the economic dimension of productivity and calculus. The role of the Hebrews was to do good, whether it paid off or not. If good (outgoing) is rewarded by incoming goodness, it is a bonus,99 not a reason to do outgoing good. Good and reward do not correlate to each other.
  • This reasoning takes on a dimension of its own in the Old Testament. Good (incoming) has already happened to us. We must do good (outgoing) out of gratitude for the good (incoming) shown to us in the past.
  • So why do good? After all, suffering is the fate of many biblical figures. The answer can only be: For good itself. Good has the power to be its own reward. In this sense, goodness gets its reward, which may or may not take on a material dimension.
  • the Hebrews offered an interesting compromise between the teachings of the Stoics and Epicureans. We will go into it in detail later, so only briefly
  • constraint. It calls for bounded optimalization (with limits). A kind of symbiosis existed between the legitimate search for one’s own utility (or enjoyment of life) and maintaining rules, which are not negotiable and which are not subject to optimalization.
  • In other words, clear (exogenously given) rules exist that must be observed and cannot be contravened. But within these borders it is absolutely possible, and even recommended, to increase utility.
  • the mining of enjoyment must not come at the expense of exogenously given rules. “Judaism comes therefore to train or educate the unbounded desire … for wealth, so that market activities and patterns of consumption operate within a God-given morality.”102
  • The Epicureans acted with the goal of maximizing utility without regard for rules (rules developed endogenously, from within the system, computed from that which increased utility—this was one of the main trumps of the Epicurean school; they did not need exogenously given norms, and argued that they could “calculate” ethics (what to do) for every given situation from the situation itself).
  • The Stoics could not seek their enjoyment—or, by another name, utility. They could not in any way look back on it, and in no way could they count on it. They could only live according to rules (the greatest weakness of this school was to defend where exogenously the given rules came from and whether they are universal) and take a indifferent stand to the results of their actions.
  • To Love the Law The Jews not only had to observe the law (perhaps the word covenant would be more appropriate), but they were to love it because it was good.
  • Their relationship to the law was not supposed to be one of duty,105 but one of gratitude, love. Hebrews were to do good (outgoing), because goodness (incoming) has already been done to them.
  • This is in stark contrast with today’s legal system, where, naturally, no mention of love or gratefulness exists. But God expects a full internalization of the commandments and their fulfillment with love, not as much duty. By no means was this on the basis of the cost-benefit analyses so widespread in economics today, which determines when it pays to break the law and when not to (calculated on the basis of probability of being caught and the amount of punishment vis-à-vis the possible gain).
  • And now, O Israel, what does the Lord your God ask of you but to fear the Lord your God, to walk in all his ways, to love him, to serve the Lord your God with all your heart and with all your soul, and to observe the Lord’s commands and decrees that I am giving you today for your own good? To the Lord your God belong the heavens, even the highest heavens, the earth and everything in it. Yet the Lord set his affection on your forefathers and loved them….
  • the principle of doing good (outgoing) on the basis of a priori demonstrated good (incoming) was also taken over by the New Testament. Atonement itself is based on an a priori principle; all our acts are preceded by good.
  • The Hebrews, originally a nomadic tribe, preferred to be unrestrained and grew up in constant freedom of motion.
  • Human laws, if they are in conflict with the responsibilities given by God, are subordinate to personal responsibility, and a Jew cannot simply join the majority, even if it is legally allowed. Ethics, the concept of good, is therefore always superior to all local laws, rules, and customs:
  • THE SHACKLES OF THE CITY Owing to the Hebrew’s liberation from Egyptian slavery, freedom and responsibility become the key values of Jewish thought.
  • Laws given by God are binding for Jews, and God is the absolute source of all values,
  • The Hebrew ideal is represented by the paradise of the Garden of Eden, not a city.116 The despised city civilization or the tendency to see in it a sinful and shackling way of life appears in glimpses and allusions in many places in the Old Testament.
  • The nomadic Jewish ethos is frequently derived from Abraham, who left the Chaldean city of Ur on the basis of a command:
  • In addition, they were aware of a thin two-way line between owner and owned. We own material assets, but—to a certain extent—they own us and tie us down. Once we become used to a certain material
  • This way of life had understandably immense economic impacts. First, such a society lived in much more connected relationships, where there was no doubt that everyone mutually depended on each other. Second, their frequent wanderings meant the inability to own more than they could carry; the gathering up of material assets did not have great weight—precisely because the physical weight (mass) of things was tied to one place.
  • One of Moses’s greatest deeds was that he managed to explain to his nation once and for all that it is better to remain hungry and liberated than to be a slave with food “at no cost.”
  • SOCIAL WELFARE: NOT TO ACT IN THE MANNER OF SODOM
  • regulations is developed in the Old Testament, one we hardly find in any other nation of the time. In Hebrew teachings, aside from individual utility, indications of the concept of maximalizing utility societywide appear for the first time as embodied in the Talmudic principle of Kofin al midat S´dom, which can be translated as “one is compelled not to act in the manner of Sodom” and to take care of the weaker members of society.
  • In a jubilee year, debts were to be forgiven,125 and Israelites who fell into slavery due to their indebtedness were to be set free.126
  • Such provisions can be seen as the antimonopoly and social measures of the time. The economic system even then had a clear tendency to converge toward asset concentration, and therefore power as well. It would appear that these provisions were supposed to prevent this process
  • Land at the time could be “sold,” and it was not sale, but rent. The price (rent) of real estate depended on how long there was until a forgiveness year. It was about the awareness that we may work the land, but in the last instance we are merely “aliens and strangers,” who have the land only rented to us for a fixed time. All land and riches came from the Lord.
  • These provisions express a conviction that freedom and inheritance should not be permanently taken away from any Israelite. Last but not least, this system reminds us that no ownership lasts forever and that the fields we plow are not ours but the Lord’s.
  • Glean Another social provision was the right to glean, which in Old Testament times ensured at least basic sustenance for the poorest. Anyone who owned a field had the responsibility not to harvest it to the last grain but to leave the remains in the field for the poor.
  • Tithes and Early Social Net Every Israelite also had the responsibility of levying a tithe from their entire crop. They had to be aware from whom all ownership comes and, by doing so, express their thanks.
  • “Since the community has an obligation to provide food, shelter, and basic economic goods for the needy, it has a moral right and duty to tax its members for this purpose. In line with this duty, it may have to regulate markets, prices and competition, to protect the interests of its weakest members.”135
  • In Judaism, charity is not perceived as a sign of goodness; it is more of a responsibility. Such a society then has the right to regulate its economy in such a way that the responsibility of charity is carried out to its satisfaction.
  • With a number of responsibilities, however, comes the difficulty of getting them into practice. Their fulfillment, then, in cases when it can be done, takes place gradually “in layers.” Charitable activities are classified in the Talmud according to several target groups with various priorities, classified according to, it could be said, rules of subsidiarity.
  • Do not mistreat an alien or oppress him, for you were aliens in Egypt.140 As one can see, aside from widows and orphans, the Old Testament also includes immigrants in its area of social protection.141 The Israelites had to have the same rules apply for them as for themselves—they could not discriminate on the basis of their origin.
  • ABSTRACT MONEY, FORBIDDEN INTEREST, AND OUR DEBT AGE If it appears to us that today’s era is based on money and debt, and our time will be written into history as the “Debt age,” then it will certainly be interesting to follow how this development occurred.
  • Money is a social abstractum. It is a social agreement, an unwritten contract.
  • The first money came in the form of clay tablets from Mesopotamia, on which debts were written. These debts were transferable, so the debts became currency. In the end, “It is no coincidence that in English the root of ‘credit’ is ‘credo,’ the Latin for ‘I believe.’”
  • To a certain extent it could be said that credit, or trust, was the first currency. It can materialize, it can be embodied in coins, but what is certain is that “money is not metal,” even the rarest metal, “it is trust inscribed,”
  • Inseparably, with the original credit (money) goes interest. For the Hebrews, the problem of interest was a social issue: “If you lend money to one of my people among you who is needy, do not be like a moneylender; charge him no interest.”
  • there were also clearly set rules setting how far one could go in setting guarantees and the nonpayment of debts. No one should become indebted to the extent that they could lose the source of their livelihood:
  • In the end, the term “bank” comes from the Italian banci, or the benches that Jewish lenders sat on.157
  • Money is playing not only its classical roles (as a means of exchange, a holder of value, etc.) but also a much greater, stronger role: It can stimulate, drive (or slow down) the whole economy. Money plays a national economic role.
  • In the course of history, however, the role of loans changed, and the rich borrowed especially for investment purposes,
  • Today the position and significance of money and debt has gone so far and reached such a dominant position in society that operating with debts (fiscal policy) or interest or money supply (monetary policy) means that these can, to a certain extent, direct (or at least strongly influence) the whole economy and society.
  • In such a case a ban on interest did not have great ethical significance. Thomas Aquinas, a medieval scholar (1225-1274), also considers similarly; in his time, the strict ban on lending with usurious interest was loosened, possibly due to him.
  • As a form of energy, money can travel in three dimensions, vertically (those who have capital lend to those who do not) and horizontally (speed and freedom in horizontal or geographic motion has become the by-product—or driving force?—of globalization). But money (as opposed to people) can also travel through time.
  • money is something like energy that can travel through time. And it is a very useful energy, but at the same time very dangerous as well. Wherever
  • Aristotle condemned interest162 not only from a moral standpoint, but also for metaphysical reasons. Thomas Aquinas shared the same fear of interest and he too argued that time does not belong to us, and that is why we must not require interest.
  • MONEY AS ENERGY: TIME TRAVEL AND GROSS DEBT PRODUCT (GDP)
  • Due to this characteristic, we can energy-strip the future to the benefit of the present. Debt can transfer energy from the future to the present.163 On the other hand, saving can accumulate energy from the past and send it to the present.
  • labor was not considered degrading in the Old Testament. On the contrary, the subjugation of nature is even a mission from God that originally belonged to man’s very first blessings.
  • LABOR AND REST: THE SABBATH ECONOMY
  • The Jews as well as Aristotle behaved very guardedly toward loans. The issue of interest/usury became one of the first economic debates. Without having an inkling of the future role of economic policy (fiscal and monetary), the ancient Hebrews may have unwittingly felt that they were discovering in interest a very powerful weapon, one that can be a good servant, but (literally) an enslaving master as well.
  • It’s something like a dam. When we build one, we are preventing periods of drought and flooding in the valley; we are limiting nature’s whims and, to a large extent, avoiding its incalculable cycles. Using dams, we can regulate the flow of water to nearly a constant. With it we tame the river (and we can also gain
  • But if we do not regulate the water wisely, it may happen that we would overfill the dam and it would break. For the cities lying in the valley, their end would be worse than if a dam were never there.
  • If man lived in harmony with nature before, now, after the fall, he must fight; nature stands against him and he against it and the animals. From the Garden we have moved unto a (battle)field.
  • Only after man’s fall does labor turn into a curse.168 It could even be said that this is actually the only curse, the curse of the unpleasantness of labor, that the Lord places on Adam.
  • Both Plato and Aristotle consider labor to be necessary for survival, but that only the lower classes should devote themselves to it so that the elites would not have to be bothered with it and so that they could devote themselves to “purely spiritual matters—art, philosophy, and politics.”
  • Work is also not only a source of pleasure but a social standing; It is considered an honor. “Do you see a man skilled in his work? He will serve before kings.”170 None of the surrounding cultures appreciate work as much. The idea of the dignity of labor is unique in the Hebrew tradition.
  • Hebrew thinking is characterized by a strict separation of the sacred from the profane. In life, there are simply areas that are holy, and in which it is not allowed to economize, rationalize, or maximize efficiency.
  • good example is the commandment on the Sabbath. No one at all could work on this day, not even the ones who were subordinate to an observant Jew:
  • the message of the commandment on Saturday communicated that people were not primarily created for labor.
  • Paradoxically, it is precisely this commandment out of all ten that is probably the most violated today.
  • Aristotle even considers labor to be “a corrupted waste of time which only burdens people’s path to true honour.”
  • we have days when we must not toil connected (at least lexically) with the word meaning emptiness: the English term “vacation” (or emptying), as with the French term, les vacances, or German die Freizeit, meaning open time, free time, but also…
  • Translated into economic language: The meaning of utility is not to increase it permanently but to rest among existing gains. Why do we learn how to constantly increase gains but not how to…
  • This dimension has disappeared from today’s economics. Economic effort has no goal at which it would be possible to rest. Today we only know growth for growth’s sake, and if our company or country prospers, that does not…
  • Six-sevenths of time either be dissatisfied and reshape the world into your own image, man, but one-seventh you will rest and not change the creation. On the seventh day, enjoy creation and enjoy the work of your hands.
  • the purpose of creation was not just creating but that it had an end, a goal. The process was just a process, not a purpose. The whole of Being was created so…
  • Saturday was not established to increase efficiency. It was a real ontological break that followed the example of the Lord’s seventh day of creation. Just as the Lord did not rest due to tiredness or to regenerate strength; but because He was done. He was done with His work, so that He could enjoy it, to cherish in His creation.
  • If we believe in rest at all today, it is for different reasons. It is the rest of the exhausted machine, the rest of the weak, and the rest of those who can’t handle the tempo. It’s no wonder that the word “rest…
  • Related to this, we have studied the first mention of a business cycle with the pharaoh’s dream as well as seen a first attempt (that we may call…
  • We have tried to show that the quest for a heaven on Earth (similar to the Jewish one) has, in its desacralized form, actually also been the same quest for many of the…
  • We have also seen that the Hebrews tried to explain the business cycle with morality and ethics. For the Hebrews,…
  • ancient Greek economic ethos, we will examine two extreme approaches to laws and rules. While the Stoics considered laws to be absolutely valid, and utility had infinitesimal meaning in their philosophy, the Epicureans, at least in the usual historical explanation, placed utility and pleasure in first place—rules were to be made based on the principle of utility.
  • CONCLUSION: BETWEEN UTILITY AND PRINCIPLE The influence of Jewish thought on the development of market democracy cannot be overestimated. The key heritage for us was the lack of ascetic perception of the world, respect to law and private…
  • We have tried to show how the Torah desacralized three important areas in our lives: the earthly ruler, nature,…
  • What is the relationship between the good and evil that we do (outgoing) and the utility of disutility that we (expect to) get as a reward (incoming)? We have seen…
  • The Hebrews never despised material wealth; on contrary, the Jewish faith puts great responsibility on property management. Also the idea of progress and the linear perception of time gives our (economic)…
  • the Hebrews managed to find something of a happy compromise between both of these principles.
  • will not be able to completely understand the development of the modern notion of economics without understanding the disputes between the Epicureans and the Stoics;
  • poets actually went even further, and with their speech they shaped and established reality and truth. Honor, adventure, great deeds, and the acclaim connected with them played an important role in the establishment of the true, the real.
  • those who are famous will be remembered by people. They become more real, part of the story, and they start to be “realized,” “made real” in the lives of other people. That which is stored in memory is real; that which is forgotten is as if it never existed.
  • Today’s scientific truth is founded on the notion of exact and objective facts, but poetic truth stands on an interior (emotional) consonance with the story or poem. “It is not addressed first to the brain … [myth] talks directly to the feeling system.”
  • “epic and tragic poets were widely assumed to be the central ethical thinkers and teachers of Greece; nobody thought of their work as less serious, less aimed at truth, than the speculative prose treatises of historians and philosophers.”5 Truth and reality were hidden in speech, stories, and narration.
  • Ancient philosophy, just as science would later, tries to find constancy, constants, quantities, inalterabilities. Science seeks (creates?) order and neglects everything else as much as it can. In their own experiences, everyone knows that life is not like that,
  • Just as scientists do today, artists drew images of the world that were representative, and therefore symbolic, picturelike, and simplifying (but thus also misleading), just like scientific models, which often do not strive to be “realistic.”
  • general? In the end, poetry could be more sensitive to the truth than the philosophical method or, later, the scientific method. “Tragic poems, in virtue of their subject matter and their social function, are likely to confront and explore problems about human beings and luck that a philosophical text might be able to omit or avoid.”8
3More

Meghan and Harry interview: Prince William says royals are 'very much not a racist fami... - 0 views

www.cnn.com/...index.html Politics
shared by kaylynfreeman on 11 Mar 21 - No Cached
  • London (CNN)Prince William has denied the royal family is racist in his first public remarks since his brother Prince Harry, and his wife Meghan, made explosive claims in a TV interview.
  • Harry and Meghan, the Duke and Duchess of Sussex, made a series of damning accusations against the royal family in an interview with Oprah Winfrey, which aired in the UK on Monday night.
  • In the interview, Meghan said that the skin tone of the couple's child, Archie, was discussed as a potential issue before he was born. The couple would not reveal who had made the remarks, but said it wasn't Queen Elizabeth II or her husband, Philip, the Duke of Edinburgh. close dialogDo you want the news summarized each morning?We've got you.Please enter aboveSign me upBy subscribing you agree to ourprivacy policy.Success!See you in your inbox.close dialog/* effects for .bx-campaign-1271788 *//* custom css .bx-campaign-1271788 *//* custom css from creative 53617 */.bx-custom.bx-campaign-1271788 .bx-row-input.bx-row-validation .bx-vtext { font-size: 11px; color: #ee2924;}@keyframes bx-anim-1271788-spin { 100% { transform: rotate(360deg); }}/* rendered styles .bx-campaign-1271788 */.bxc.bx-campaign-1271788.bx-active-step-1 .bx-creative:before {min-height: 185px;}.bxc.bx-campaign-1271788.bx-active-step-1 .bx-creative {border-color: #c1c1c1;border-style: solid;background-size: contain;background-color: white;border-width: 1px 0;border-radius: 0;}.bxc.bx-campaign-1271788.bx-active-step-1 .bx-creative> *:first-child {width: 780px;padding: 10px;vertical-align: middle;}@media all and (max-width: 736px) {.bxc.bx-campaign-1271788.bx-active-step-1 .bx-creative> *:first-child {width: 340px;padding: 15px;}}.bxc.bx-campaign-1271788.bx-active-step-1 .bx-close {stroke: rgb(193, 193, 193);stroke-width: 2px;width: 24px;height: 24px;}@media all and (max-width: 736px) {.bxc.bx-campaign-1271788.bx-active-step-1 .bx-close {width: 30px;height: 30px;padding: 0 0 10px 10px;}}.bxc.bx-campaign-1271788 .bx-group-1271788-PGhroUO {width: 135px;text-align: left;}@media all and (max-width: 736px) {.bxc.bx-campaign-1271788 .bx-group-1271788-PGhroUO {text-align: center;display: none;}}.bxc.bx-campaign-1271788 .bx-element-1271788-LHjAYNs {width: 100%;}@media all and (max-width: 736px) {.bxc.bx-campaign-1271788 .bx-element-1271788-LHjAYNs {width: 45px;}}.bxc.bx-campaign-1271788 .bx-group-1271788-eWRqNk4 {width: 505px;padding: 2px 0 0 25px;text-align: left;}@media all and (max-width: 736px) {.bxc.bx-campaign-1271788 .bx-group-1271788-eWRqNk4 {width: 100%;padding: 5px 0 0;text-align: left;}}.bxc.bx-campaign-1271788 .bx-element-1271788-Sk3p2Hs {width: 100%;}@media all and (max-width: 736px) {.bxc.bx-campaign-1271788 .bx-element-1271788-Sk3p2Hs {width: 100%;}}.bxc.bx-campaign-1271788 .bx-element-1271788-Sk3p2Hs> *:first-child {font-family: CNN,Helvetica Neue,Helvetica,Arial,Utkal,sans-serif;font-weight: 400;font-size: 21px;color: #282828;line-height: 1em;letter-spacing: -.015em;}@media all and (max-width: 736px) {.bxc.bx-campaign-1271788 .bx-element-1271788-Sk3p2Hs> *:first-child {font-size: 22px;min-width: auto;padding: 0;line-height: 1.1m;}}.bxc.bx-campaign-1271788 .bx-element-1271788-Gs3ScAY {width: 100%;}@media all and (max-width: 736px) {.bxc.bx-campaign-1271788 .bx-element-1271788-Gs3ScAY {width: 100%;}}@media all and (min-width: 1025px) {.bxc.bx-campaign-1271788 .bx-element-1271788-Gs3ScAY {width: 500px;}}.bxc.bx-campaign-1271788 .bx-element-1271788-Gs3ScAY> *:first-child {font-family: CNN,Helvetica Neue,Helvetica,Arial,Utkal,sans-serif;font-weight: 400;font-size: 21px;padding: 6px 0 0;color: #ee2924;line-height: 1.1em;letter-spacing: -.015em;}@media all and (max-width: 736px) {.bxc.bx-campaign-1271788 .bx-element-1271788-Gs3ScAY> *:first-child {font-size: 18px;padding: 8px 0 0;}}.bxc.bx-campaign-1271788 .bx-group-1271788-kw4VbV5 {width: 640px;padding: 10px 0 0;min-width: 550px;}@media all and (max-width: 736px) {.bxc.bx-campaign-1271788 .bx-group-1271788-kw4VbV5 {min-width: auto;width: 100%;padding: 10px 0 0;}}@media all and (min-width: 737px) and (max-wi
13More

Climate activism in the US | Pew Research Center - 0 views

www.pewresearch.org/...climate-activism activism climate research pew
shared by Javier E on 26 Jul 24 - No Cached
  • The survey finds that the share of Americans who say they have participated in one of four forms of climate activism has declined slightly since two years ago.
  • there’s limited belief among the public generally that climate activism changes minds or drives elected officials to act.
  • Overall, 21% of Americans say they have participated in at least one of these activities in the last year, down slightly from 24% in 2021.
  • ...10 more annotations...
  • Democrats and independents who lean to the Democratic Party are about three times more likely than Republicans and Republican-leaning independents to say they have participated in at least one of these activities to address climate change in the past year (32% vs. 10%).
  • 30% of adults ages 18 to 29 say they have participated in at least one of four activities in the past year, compared with 17% of those ages 65 and older.
  • Those who say they personally care a great deal about climate change are much more likely than those who say they care some to have participated in at least one of four climate-related activities in the last year (36% vs. 14%).
  • A relatively small share of the public (28%) believes that climate activism, such as protests and rallies, makes people more likely to support action on climate change.
  • About half of Americans (49%) say climate activism does not really affect people’s levels of support, and 21% believe it has the opposite of its intended effect and makes people less likely to support action on climate change.
  • Just 11% of Americans say climate activism is extremely or very effective in getting elected officials to act on climate change; 33% say it is somewhat effective
  • A narrow majority of Americans (54%) say that climate activism is not too or not at all effective in getting elected official to act on climate change.
  • However, a majority of Democrats believe climate activism is at least somewhat effective at motivating action from elected officials. By contrast, 69% of Republicans believe it is not too or not at all effective.
  • Overall, 53% of U.S. adults say they have talked about the need for action on global climate change in the past few weeks. By comparison, 46% say they have not talked about the need to address climate change recently.
  • Democrats (72%) are far more likely than Republicans (35%) to say they have talked about the need for action on climate change within the last week.
32More

How Index Funds May Hurt the Economy - The Atlantic - 0 views

www.theatlantic.com/...618497 economics index funds efficiency concentration competition innovation risk economy
shared by Javier E on 07 Apr 21 - No Cached
  • Thanks to their ultralow fees and stellar long-term performance, these investment vehicles have soaked up more and more money since being developed by Vanguard’s Jack Bogle in the 1970s
  • as of 2016, investors worldwide were pulling more than $300 billion a year out of actively managed funds and pushing more than $500 billion a year into index funds. Some $11 trillion is now invested in index funds, up from $2 trillion a decade ago. And as of 2019, more money is invested in passive funds than in active funds in the United States.
  • Indexing has also gone small, very small. Although many financial institutions offer index funds to their clients, the Big Three control 80 or 90 percent of the market. The Harvard Law professor John Coates has argued that in the near future, just 12 management professionals—meaning a dozen people, not a dozen management committees or firms, mind you—will likely have “practical power over the majority of U.S. public companies.”
  • ...29 more annotations...
  • Indexing has gone big, very big. For nine in 10 companies on the S&P 500, their largest single shareholder is one of the Big Three. For many, the big indexers control 20 percent or more of their shares. Index funds now control 20 to 30 percent of the American equities market, if not more.
  • One primary concern comes from the analysts at Bernstein: “A supposedly capitalist economy where the only investment is passive is worse than either a centrally planned economy or an economy with active, market-led capital management.”
  • Passively managed investment options do not just outperform actively managed ones in terms of both better returns and lower fees. They eat their lunch.
  • Let’s imagine that a decade ago you invested $100 in an index fund charging a 0.04 percent fee and $100 in a traditional mutual fund charging a 1.5 percent fee. Let’s also imagine that the index fund tracked the S&P 500, and that the mutual fund ended up returning what the S&P 500 returned. Your passively invested $100 would have turned into $356.66 in 10 years. Your traditionally invested $100 would have turned into $313.37.
  • Actively managed investment options could make up for their higher fees with higher returns. And some do, some of the time. Yet scores of industry and academic studies stretching over decades show that trying to beat the market tends to result in lower returns than just buying the market. Only a quarter of actively managed mutual funds exceeded the returns of their passively managed cousins in the decade leading up to 2019,
  • What might be good for retail investors might not be good for the financial markets, public companies, or the American economy writ large, and the passive revolution’s scope has raised all sorts of hand-wringing and red-flagging. Analysts at Bernstein have called passive investing “worse than Marxism.” The investor Michael Burry, of The Big Short fame, has called it a “bubble,” and a co-head of Goldman Sachs’s investment-management division has warned about froth too. Shortly before his death in 2019, Bogle himself warned that index funds’ dominance might not “serve the national interest.”
  • The problem is that the public markets have been cornered by a group of investment managers small enough to fit at a lunch counter, dedicated to quiescence and inertia.
  • Active managers direct investment dollars to companies on the basis of those companies’ research-and-development prospects, human capital, regulatory outlook, and so on. They take new information and price it into a company’s stock when buying and selling shares.
  • Passive investors, by contrast, ignore annual reports and market rumors. They do nothing with trading-floor gossip. They make no attempt to research what to invest in and what to skip. Whether holding international or domestic assets, holding stocks or bonds, or using a mutual-fund structure or an ETF structure, they just mirror the market. Big U.S.-stock index funds buy big U.S. stocks just because they’re big U.S. stocks.
  • At least in a Soviet-type centrally planned economy, apparatchiks would be making some attempt to allocate resources efficiently.
  • Passive management is merely a giant phenomenon, not an all-encompassing one. Hundreds of actively managed mutual funds are still out there, as are legions of day traders, hedge funds, and private offices buying and selling and buying and selling. Stock prices still move around, sometimes dramatically, on the basis of new data and new ideas.
  • Still, passive investing may well be degrading the informational content of the markets, messing up price signals and making business decisions harder as a result.
  • When one of these commodities ends up on an index, the firms that use that commodity in their business see a 6 percent increase in costs and a 40 percent decrease in operating profits, relative to firms without exposure to the commodity, the academics found
  • the price fluctuations of a newly indexed stock “magically and quickly” change. A firm’s shares begin to move “more closely with its 499 new neighbors and less closely with the rest of the market. It is as if it has joined a new school of fish.”
  • More broadly, the Bernstein analysts, among others, worry that index-linked investing is increasing correlation, whereby the prices of stocks, bonds, and other assets move up or down or sideways together.
  • Their theory is that ETF trading shifts prices in subtle ways, making it harder for businesses to know when to buy their gold and copper. Corporate executives “are being influenced by what happens in the futures market, and what happens in the futures market is being influenced by ETF trading,”
  • A far bigger concern is that the rise of the indexers might be making American firms less competitive, through “common ownership,” in which the mega-asset managers control large stakes in multiple competitors in the same industry. The passive firms control big chunks of the airlines American, Delta, JetBlue, Southwest, and United, for instance
  • The rise of common ownership might be perverting corporate behavior in weird ways, academics argue. Think about the incentives like this: Let’s imagine that you are a major shareholder in a public widget company. We’d expect you to desire—insist, even—that the company fight for market share and profits. But now imagine that you are a major shareholder in all the important widget companies. You would no longer really care which one succeeded, particularly not if one company doing better meant another company doing worse. You’d just care about the widget sector’s corporate profits, which would go up if the widget companies quit competing with one another and started raising prices to pad their bottom line.
  • one major paper showed that common ownership of airline stocks had the effect of raising ticket prices by 3 to 7 percent.
  • A separate study showed that consumers are paying higher prices for prescription medicines because generic-drug makers have less incentive to compete with the companies making name-brand drugs.
  • Yet another study showed that common ownership is leading retail banks to charge higher prices.
  • Across firms, executive compensation seems to be more closely linked to a company’s performance when its shareholders are not invested in the company’s rivals, the study found. In other words, firms stop paying managers for performance when owned by the same people who own their rivals.
  • The market clout of the indexers raises other questions too. The actual owners of the stocks—not the index-fund managers but the people putting money into index funds—have little say over the companies they own. Vanguard, Fidelity, and State Street, not Mom and Dad, vote in shareholder elections
  • In fact, the Big Three cast roughly 25 percent of the votes in S&P 500 companies.
  • In an interview with The Wall Street Journal, the chief executive officer of State Street said he thought it was “almost inevitable, when you see this kind of concentration, that it probably will make sense to do something about it.”
  • But figuring out what the appropriate restrictions are depends on determining just what the problem with the indexers is—are they distorting price signals, raising the cost of consumer goods, posing financial systemic risk, or do they just have the market cornered? Then, what to do about it? Common ownership is not a problem the government is used to handling.
  • , thanks to the passive revolution, a broad variety and huge number of firms might have less incentive to compete. The effect on the real economy might look a lot like that of rising corporate concentration. And the two phenomena might be catalyzing one another, as index investing increases the number of mergers and makes them more lucrative.
  • In recent decades, the whole economy has gone on autopilot. Index-fund investment is hyperconcentrated. So is online retail. So are pharmaceuticals. So is broadband. Name an industry, and it is likely dominated by a handful of giant players. That has led to all sorts of deleterious downstream effects: suppressing workers’ wages, raising consumer prices, stifling innovation, stoking inequality, and suffocating business creation
  • The problem is not just the indexers. It is the public markets they reflect, where more chaos, more speculation, more risk, more innovation, and more competition are desperately needed.
18More

US coronavirus: America is at a crossroads in this pandemic as Covid-19 deaths near 500... - 0 views

www.cnn.com/...index.html covid
shared by katherineharron on 22 Feb 21 - No Cached
  • On the brink of a devastating milestone -- 500,000 US Covid-19 deaths -- the US is at a crossroads in the course of this pandemic.
  • And while vaccinations slowly increase, some Americans say they won't get a Covid-19 vaccine -- hurting the chances of herd immunity and hindering a return to normal life.
  • More than 43.6 million Americans have received at least one dose of their two-dose vaccines, according to the US Centers for Disease Control and Prevention. close dialogCovid-19Your local resource.Set your location and log in to find local resources and information on Covid-19 in your area.Please enter aboveSet Locationclose dialog/* effects for .bx-campaign-1191325 *//* custom css .bx-campaign-1191325 *//* custom css from creative 50769 */.bx-custom.bx-campaign-1191325 .bx-row-validation .bx-input {border-color: white !important;border-width: 1px !important;background-color: white !important;box-shadow: 0px 2px 8px 1px rgba(0,0,0,0.12) !important;}.bx-custom.bx-campaign-1191325 .bx-row-validation .bx-vtext { color: #e53841 !important; font-size: 11px !important; position: absolute !important; bottom: -1.8em !important;} @media screen and (max-width:736px) { .bx-custom.bx-campaign-1191325 .bx-row-validation .bx-vtext {font-size: 10px !important; }}.bx-custom.bx-campaign-1191325 .bx-row-validation .bx-el::-webkit-input-placeholder { color: #e53841 !important;}/* rendered styles .bx-campaign-1191325 */.bxc.bx-campaign-1191325.bx-active-step-1 .bx-creative:before {min-height: 270px;}.bxc.bx-campaign-1191325.bx-active-step-1 .bx-creative {background-color: white;background-size: contain;border-style: solid;border-color: rgb(213, 213, 213);border-width: 1px 0;}@media all and (max-width: 736px) {.bxc.bx-campaign-1191325.bx-active-step-1 .bx-creative:before {min-height: 200px;}.bxc.bx-campaign-1191325.bx-active-step-1 .bx-creative {background-image: url(//assets.bounceexchange.com/assets/uploads/clients/340/creatives/79b9f84d1816b04c777d4e02a8d21b2d.jpg);background-position: 95% 15%;background-size: 140px;}}.bxc.bx-campaign-1191325.bx-active-step-1 .bx-creative> *:first-child {width: 780px;padding: 8px 5px 5px 8px;}@media all and (max-width: 736px) {.bxc.bx-campaign-1191325.bx-active-step-1 .bx-creative> *:first-child {width: 340px;padding: 25px 15px 20px 15px;vertical-align: middle;}}.bxc.bx-campaign-1191325.bx-active-step-1 .bx-close {width: 24px;height: 24px;stroke-width: 3px;stroke: #d3d2d2;stroke-linecap: round;}@media all and (max-width: 736px) {.bxc.bx-campaign-1191325.bx-active-step-1 .bx-close {width: 22px;height: 22px;top: 3px;right: 3px;}}.bxc.bx-campaign-1191325 .bx-group-1191325-YCHCmvQ {width: 60%;text-align: left;padding: 0 0 0 25px;}@media all and (max-width: 736px) {.bxc.bx-campaign-1191325 .bx-group-1191325-YCHCmvQ {width: 100%;padding: 0;}}.bxc.bx-campaign-1191325 .bx-element-1191325-G5NQCjO {width: 100%;}.bxc.bx-campaign-1191325 .bx-element-1191325-G5NQCjO> *:first-child {font-family: CNN,Helvetica Neue,Helvetica,Arial,Utkal,sans-serif;font-weight: 700;color: #e53841;line-height: 1em;letter-spacing: .3px;font-size: 34px;}@media all and (max-width: 736px) {.bxc.bx-campaign-1191325 .bx-element-1191325-G5NQCjO> *:first-child {font-size: 30px;}}.bxc.bx-campaign-1191325 .bx-element-1191325-ACplpBG {width: 100%;padding: 3px 0 0;}@media all and (max-width: 736px) {.bxc.bx-campaign-1191325 .bx-element-1191325-ACplpBG {width: 280px;padding: 4px 0 0;}}.bxc.bx-campaign-1191325 .bx-element-1191325-ACplpBG> *:first-child {font-family: CNN,Helvetica Neue,Helvetica,Arial,Utkal,sans-serif;font-weight: 700;color: #39373a;line-height: 1em;letter-spacing: .3px;font-size: 34px;}@media all and (max-width: 736px) {.bxc.bx-campaign-1191325 .bx-element-1191325-ACplpBG> *:first-child {font-size: 30px;}}.bxc.bx-campaign-1191325 .bx-element-1191325-yrLQsfT {padding: 18px 0 22px;}@media all and (max-width: 736px) {.bxc.bx-campaign-1191325 .bx-element-1191325-yrLQsfT {width: 100%;padding: 12px 0;}}.bxc.bx-campaign-1191325 .bx-element-1191325-yrLQsfT> *:first-child {font-family: CNN,Helvetica Neue,Helvetica,Arial,Utkal,sans-serif;font-weight: 400;font-size: 16.5px;color: #818287;}@media all and (max-width: 736px) {.bxc.bx-campaign-1191325 .bx-element-1191325-yrLQsfT> *:first-child {font-size: 14px;line-height: 1.25;letter-spacing: -.45px;}}.bxc.bx-campaign-1191325 .bx-element-1191325-nn3P7SD .bx-el {padding: 10px 14px;border-width: 1px;font-family: CNN,Helvetica Neue,Helvetica,Arial,Utkal,sans-serif;font-weight: 500;font-size: 19px;color: #818287;border-color: #f4f4f4;border-radius: 8px 0 0 8px;box-shadow: 0px 2px 8px 1px rgba(0,0,0,0.12);background-color: #f4f4f4;}.bxc.bx-campaign-1191325 .bx-has-text.bx-element-1191325-nn3P7SD .bx-el {padding: 10px 14px;}.bxc.bx-campaign-1191325 .bx-element-1191325-nn3P7SD .bx-el::-webkit-input-placeholder {color: #818287;font-weight: 500;}.bxc.bx-campaign-1191325 .bx-element-1191325-nn3P7SD .bx-el:-moz-placeholder {color: #818287;font-weight: 500;}.bxc.bx-campaign-1191325 .bx-element-1191325-nn3P7SD .bx-el::-moz-placeholder {color: #818287;font-weight: 500;}.bxc.bx-campaign-1191325 .bx-element-1191325-nn3P7SD .bx-el:-ms-input-placeholder {color: #818287;font-weight: 500;}.bxc.bx-campaign-1191325 .bx-element-1191325-nn3P7SD .bx-el:focus {border-color: white;background-color: white;}@media all and (max-width: 736px) {.bxc.bx-campaign-1191325 .bx-element-1191325-nn3P7SD .bx-el {padding: 9px;font-size: 15px;}.bxc.bx-campaign-1191325 .bx-has-text.bx-element-1191325-nn3P7SD .bx-el {padding: 9px;}}.bxc.bx-campaign-1191325 .bx-element-1191325-nn3P7SD {width: 255px;padding: 0;}@media all and (max-width: 736px) {.bxc.bx-campaign-1191325 .bx-element-1191325-nn3P7SD {width: 170px;}}.bxc.bx-campaign-1191325 .bx-element-1191325-wKqQsjS {width: 150px;padding: 0;}@media all and (max-width: 736px) {.bxc.bx-campaign-1191325 .bx-element-1191325-wKqQsjS {width: 140px;}}.bxc.bx-campaign-1191325 .bx-element-1191325-wKqQsjS> *:first-child {font-family: CNN,Helvetica Neue,Helvetica,Arial,Utkal,sans-serif;font-weight: 400;font-size: 17px;letter-spacing: .3px;border-color: #e53841;background-color: #e53841;padding: 15px;border-radius: 0 8px 8px 0;box-shadow: 0px 2px 8px 1px rgba(0,0,0,0.22);}.bxc.bx-campaign-1191325 .bx-element-1191325-wKqQsjS
  • ...15 more annotations...
  • About 18.8 million have been fully vaccinated. That's about 5.7% of the US population -- far less than the estimated 70% to 85% of Americans who would need to be immune to reach herd immunity.
  • To speed up vaccinations, some experts have suggested delaying second vaccine doses to get more first doses into people's arms.
  • Both vaccines on the US market -- developed by Pfizer-BioNTech and Moderna -- require two doses, the second of which are intended to be administered 21 days and 28 days after the first, respectively.
  • Nationwide, the rates of new Covid-19 cases, hospitalizations and deaths are declining.The number of patients hospitalized with Covid-19 has fallen for the 40th day in a row, according to the COVID Tracking Project.
  • Fauci hopes that doesn't happen, he said, adding it's "possible" people may be wearing masks in 2022.
  • And daily new cases have dropped 23% over the same time period, according to Johns Hopkins. (But testing is also down by 17%, according to the COVID Tracking Project.)
  • Daily deaths have declined 24% this past week compared to the previous week
  • Experts with the University of Washington's Institute for Health Metrics and Evaluation said over the weekend that while the B.1.1.7 strain likely accounts for less than 20% of current infections in the US, that number will likely soar to 80% by late April.
  • "Managing the epidemic in the next four months depends critically on scaling up vaccination, trying to increase the fraction of adults willing to be vaccinated above three-quarters, and strongly encouraging continued mask use and avoiding situations where transmission is likely, such as indoor dining, going to bars, or indoor gatherings with individuals outside the household," the team wrote.
  • "With new, more contagious variants of the virus circulating throughout the U.S., now is not the time to let your guard down and scale back on the measures that we know will work to prevent further illness and deaths -- wearing masks, practicing physical distancing, and washing hands," a joint statement said.
  • About 1,700 cases of variant strains first spotted in the UK, South Africa and Brazil have been reported in the US, according to the Centers for Disease Control and Prevention.
  • "I do think we're looking at some new normals. I think the handshake, for example, is probably going away," she said."I do think masks in the cough/cold/flu season in the winter months would make a lot of sense. That clearly, really insulated the Southeast Asian countries from some of the worst of this, understanding the importance of wearing masks."
  • "It's estimated that about 70% of Americans must be vaccinated before we get to herd immunity through vaccination," CNN medical analyst Dr. Leana Wen said. "That's the point where enough people have the immune protection that the virus won't spread anymore."
  • "The evidence was pretty compelling by last March or April that uniform wearing of masks would reduce transmission of this disease," National Institutes of Health Director Dr. Francis Collins told Axios on HBO on Sunday.
  • "A mask is nothing more than a life-saving medical device, and yet it got categorized in all sorts of other ways that were not factual, not scientific and frankly, dangerous," he added. "And I think you can make a case that tens of thousands of people died as a result."
17More

Opinion | 'Clueless' and 'Saved by the Bell' Are How We Got Trump - The New York Times - 0 views

www.nytimes.com/...90s-movies-tv-activism.html activism youth 1990s uncool cool media image
shared by Javier E on 27 Oct 19 - No Cached
  • In the 1990s, activism — particularly student activism — was stigmatized as tedious, silly, self-important and, most damningly, ineffectual.
  • for your middle-of-the-road fat white dorks? The safest path was to say all the right things about freedom and equality while rolling your eyes at the try-hards.
  • I’m not talking about kids of marginalized identities or communities who have never for one second had the luxury to choose whether to fight or not. I’m talking about the mediocre white kids, the comfortable kids, the suburban kids.
  • ...14 more annotations...
  • If you were a privileged white kid in the ’90s who could feel a moral pull to fight for something but didn’t know where to start, looking to the media for inspiration was a dry, dry well
  • The modern right loves to quote the Rev. Dr. Martin Luther King Jr., a “real” activist, while deriding Black Lives Matter.
  • But social justice activism as a continuum, a mantle to take up, a moral obligation (particularly for those of us born into comfort and power) was harder to see.
  • Contemporary activists were human hacky sacks with suspect motives or imperfect methods or any other number of manufactured excuses as to why they weren’t legitimate, weren’t the same as our parents marching to end segregation on the same streets a couple of decades before.
  • There was always reverence for “real” activists, of course — the heroes of the civil rights movement, the suffragists, Cesar Chavez, Harvey Milk — people who had lived and died and won great battles before we were born.
  • Conservatives claim to support social justice in the abstract but hate “social justice warriors.
  • They’re all for freedom and equality, they say, but sneer at the mechanisms that might actually help get us there as bleeding-heart pandering to the dreaded “politically correct.”
  • I did not go to the W.T.O. protest partly because my mom told me I couldn’t and partly because I didn’t understand it, but primarily because I’d been taught that when ordinary people, especially young people, try to do activism, they look stupid.
  • things are different now.
  • Activism comes so naturally to my girls. They are native to it. They are not afraid of sincerity. They’re at every protest, ones I haven’t even heard about.
  • this generation wasn’t fed activism as a punch line the way I was, and as Donald Trump emboldens conservative teenagers, my daughters and their friends aren’t cowed — they’re galvanized.
  • Think of 16-year-old Greta Thunberg
  • Think of the Parkland school shooting survivors
  • In the auditorium, my stepdaughter took the mic. “We are tired of the fact that we still have to fight,” she chanted, “for what the white man gets to call his inalienable rights. And it’s not how we fight, it’s that we dare to.” She took a deep breath. “So we, as a people, will keep fighting, whether it’s peaceful or scary, until we reach justice by whatever means necessary.”
22More

Facebook Has 50 Minutes of Your Time Each Day. It Wants More. - The New York Times - 0 views

www.nytimes.com/...gagement-to-its-advantage.html
shared by Javier E on 10 May 16 - No Cached
  • Fifty minutes.That’s the average amount of time, the company said, that users spend each day on its Facebook, Instagram and Messenger platforms
  • there are only 24 hours in a day, and the average person sleeps for 8.8 of them. That means more than one-sixteenth of the average user’s waking time is spent on Facebook.
  • That’s more than any other leisure activity surveyed by the Bureau of Labor Statistics, with the exception of watching television programs and movies (an average per day of 2.8 hours)
  • ...19 more annotations...
  • It’s more time than people spend reading (19 minutes); participating in sports or exercise (17 minutes); or social events (four minutes). It’s almost as much time as people spend eating and drinking (1.07 hours).
  • the average time people spend on Facebook has gone up — from around 40 minutes in 2014 — even as the number of monthly active users has surged. And that’s just the average. Some users must be spending many hours a day on the site,
  • time has become the holy grail of digital media.
  • Time is the best measure of engagement, and engagement correlates with advertising effectiveness. Time also increases the supply of impressions that Facebook can sell, which brings in more revenue (a 52 percent increase last quarter to $5.4 billion).
  • And time enables Facebook to learn more about its users — their habits and interests — and thus better target its ads. The result is a powerful network effect that competitors will be hard pressed to match.
  • the only one that comes close is Alphabet’s YouTube, where users spent an average of 17 minutes a day on the site. That’s less than half the 35 minutes a day users spent on Facebook
  • Users spent an average of nine minutes on all of Yahoo’s sites, two minutes on LinkedIn and just one minute on Twitter
  • People spending the most time on Facebook also tend to fall into the prized 18-to-34 demographic sought by advertisers.
  • “You hear a narrative that young people are fleeing Facebook. The data show that’s just not true. Younger users have a wider appetite for social media, and they spend a lot of time on multiple networks. But they spend more time on Facebook by a wide margin.”
  • What aren’t Facebook users doing during the 50 minutes they spend there? Is it possibly interfering with work (and productivity), or, in the case of young people, studying and reading?
  • While the Bureau of Labor Statistics surveys nearly every conceivable time-occupying activity (even fencing and spelunking), it doesn’t specifically tally the time spent on social media, both because the activity may have multiple purposes — both work and leisure — and because people often do it at the same time they are ostensibly engaged in other activities
  • The closest category would be “computer use for leisure,” which has grown from eight minutes in 2006, when the bureau began collecting the data, to 14 minutes in 2014, the most recent survey. Or perhaps it would be “socializing and communicating with others,” which slipped from 40 minutes to 38 minutes.
  • But time spent on most leisure activities hasn’t changed much in those eight years of the bureau’s surveys. Time spent reading dropped from an average of 22 minutes to 19 minutes. Watching television and movies increased from 2.57 hours to 2.8. Average time spent working declined from 3.4 hours to 3.25. (Those hours seem low because much of the population, which includes both young people and the elderly, does not work.)
  • The bureau’s numbers, since they cover the entire population, may be too broad to capture important shifts among important demographic groups
  • ComScore reported that television viewing (both live and recorded) dropped 2 percent last year, and it said younger viewers in particular are abandoning traditional live television. People ages 18-34 spent just 47 percent of their viewing time on television screens, and 40 percent on mobile devices.
  • Among those 55 and older, 70 percent of their viewing time was on television, according to comScore. So among young people, much social media time may be coming at the expense of traditional television.
  • comScore’s data suggests that people are spending on average just six to seven minutes a day using social media on their work computers. “I don’t think Facebook is displacing other activity,” he said. “People use it during downtime during the course of their day, in the elevator, or while commuting, or waiting.
  • Facebook, naturally, is busy cooking up ways to get us to spend even more time on the platform
  • A crucial initiative is improving its News Feed, tailoring it more precisely to the needs and interests of its users, based on how long people spend reading particular posts. For people who demonstrate a preference for video, more video will appear near the top of their news feed. The more time people spend on Facebook, the more data they will generate about themselves, and the better the company will get at the task.
18More

Donald Trump's Christian Soldiers - The New York Times - 0 views

www.nytimes.com/...trumps-christian-soldiers.html christianity christian demagogue religion culture
shared by Javier E on 13 Mar 16 - No Cached
  • Of all the reasons it once seemed unthinkable that Donald J. Trump might be the Republican nominee, one of the strongest was the G.O.P.’s reputation as the party of religious conservatives.
  • Trump was a different kind of figure: Not merely lukewarm or unorthodox, but a proud flouter of the entire Judeo-Christian code — a boastful adulterer and a habitual liar, a materialist and a sensualist, a greedy camel without even the slightest interest in squeezing through the needle’s eye
  • And yet: Despite his transparent irreligiosity, Trump has won easily across the South, one of the most religious portions of the country. Among both self-identified evangelicals and Catholics, he’s consistently polled as well as the evangelical Ted Cruz and the Roman Catholic Marco Rubio.
  • ...15 more annotations...
  • This week two influential conservative Catholic scholars, Robert George and George Weigel, put out an open letter to their co-believers, urging them to reject Trump as “manifestly unfit to be president of the United States.”
  • some clarity is also needed about what it means, exactly, that Trump is winning religious voters.
  • Trump is not the first choice of most active churchgoers. Indeed, active religiosity is (relatively speaking) one of the bulwarks against Trumpism, and his coalition is strongest among the most secular Republicans
  • 38 percent still described themselves as weekly churchgoers.
  • As with the wider conservative coalition, Trump is heightening conservative religion’s internal contradictions and fracturing it along pre-existing fault lines
  • Trump is losing the most active believers, but he’s winning in what I’ve previously termed the “Christian penumbra” — the areas of American society (parts of the South very much included) where active religiosity has weakened, but a Christian-ish residue remains.
  • The inhabitants of this penumbra still identify with Christianity, but they lack the communities, habits and support structures that make the religious path (somewhat) easier to walk. As a result, this Christian-ish landscape seems to produce more social dysfunction, more professional disappointment and more personal disarray than either a thoroughgoing secularism or a fully practiced faith
  • his occasional nods to religious faith — like, say, his promise to make store clerks say “Merry Christmas” instead of “Happy Holidays” — are well tailored for voters for whom Christian identity is still a talisman even when an active faith is all but gone.
  • among Americans who do still have an active faith, Trump has exploited the widening gap between what many conservative Christians assumed about the relationship between their country and their faith, and what the last 10 years or more of social and political change have revealed about the nation’s drift
  • Evangelicals have for decades believed that the country was more conservative than not, more Christian than not. The bipartisanship on religious liberty and the civic faith of the country was conducive to that. Now they’ve woken up to a reality in the Obama years that this was a polite fiction.
  • If this is really a post-Christian society, they seem to be thinking, then Christians need to make sure the meanest, toughest heathen on the block is on their side. So it makes sense to join an alliance of convenience with a strongman, placing themselves under his benevolent protection, because their own leaders have delivered them only to defeat.
  • the lure of the strongman is particularly powerful for those believers whose theology was somewhat Trumpian already — nationalistic, prosperity-worshiping, by turns apocalyptic and success-obsessed.
  • With the steady post-1960s weakening of traditional Christian confessions, the preachers of this kind of gospel — this distinctively American heresy, really — have assumed a new prominence in the religious landscape. Trump, with his canny instinct for where to drive the wedge, has courted exactly these figures
  • he’s wooed televangelists and prosperity preachers, and pitched himself to believers already primed to believe that a meretricious huckster with unusual hair might be a vessel of the divine will.
  • Which he is not, save perhaps in this sense: In the light of Trumpism, many hard truths about American Christianity — its divisions, its failures, its follies, its heresies — stand ruthlessly exposed.
7More

Cars' Voice-Activated Systems Distract Drivers, Study Finds - The New York Times - 0 views

www.nytimes.com/...tract-drivers-study-finds.html drivers car distraction
shared by Javier E on 27 Oct 15 - No Cached
  • When driving, don’t talk to your car — or your phone.
  • research found that the most complicated voice-activated systems can take a motorist’s mind off the road for as long as 27 seconds after he or she stops interacting with the system. Even less complex systems can leave the driver distracted for 15 seconds after a motorist disengages, the research shows
  • This lingering distraction reflects the time required for drivers to reorient themselves to the road after interacting with their cars’ voice-activated technology
  • ...4 more annotations...
  • Texting while driving, an activity that is almost universally condemned as dangerous, is becoming more commonplace, not less so, according to survey
  • “When you hang up, you have to figure out where you are, how fast you’re going, where other vehicles are,”
  • He said that using this technology required the same kind of brain power as “balancing a checkbook while driving.”
  • Carmakers have said that their voice-activated systems provide a safer alternative to manipulating phones with hands that should be on the wheel.
21More

White House Economists Warned in 2019 a Pandemic Could Devastate America - The New York... - 0 views

www.nytimes.com/...coronavirus-economy-trump.html white house pandemic economist economic analysis 2019 history policy
shared by Javier E on 01 Apr 20 - No Cached
  • White House economists published a study last September that warned a pandemic disease could kill a half million Americans and devastate the economy.It went unheeded inside the administration.
  • In an interview, she said it would encompass school closures, shutting down many businesses and the sort of stay-at-home orders that many, but not all, states have imposed.“What it entails is something as drastic as you can get,”
  • Public health threats did not typically hurt the economy, Mr. Philipson said. He suggested the virus would not be nearly as bad as a normal flu season.
  • ...18 more annotations...
  • The 2019 study warned otherwise — specifically urging Americans not to conflate the risks of a typical flu and a pandemic.
  • The existence of that warning undermines administration officials’ contentions in recent weeks that no one could have seen the virus damaging the economy as it has.
  • One of the authors of the study, who has since left the White House, now says it would make sense for the administration to effectively shut down most economic activity for two to eight months to slow the virus.
  • Government officials estimated Tuesday that the deadly pathogen could kill between 100,000 and 240,000 Americans.
  • it is unclear how the White House is tallying the potential benefits and costs — in dollar figures and human lives — of competing timetables for action.
  • The director of the National Economic Council, Larry Kudlow, told ABC News on Sunday that “it could be four weeks, it could be eight weeks” before economic activity resumes. “I say that hopefully,”
  • seeks to determine the optimal length of a national suppression of economic activity,
  • It assigned a value of $12.3 million per life for Americans between the ages of 18 and 49, compared with $5.3 million for those 65 and over.
  • In a best-case scenario, Ms. Scherbina concludes, a national suppression of economic activity to flatten the infection curve must last at least seven weeks.
  • In a worst case, where the shutdown proves less effective at slowing the rate of new infections, it would be economically optimal to keep the economy shuttered for nearly eight months.
  • Suppression efforts inflict considerable damage on the economy, reducing activity by about $36 billion per week, the study estimates. Ms. Scherbina said the optimal durations would remain largely unchanged even if the weekly damage was twice that high.
  • But the efforts would save nearly two million lives when compared with a scenario in which the government did nothing to suppress the economy and the spread of the virus
  • doing nothing would impose a $13 trillion cost to the economy — equal to about two-thirds of the amount of economic activity that the United States was projected to generate this year
  • Ms. Scherbina based her estimates on the models she built when she was a senior economist at the Council of Economic Advisers and the lead author of the September paper, “Mitigating the Impact of Pandemic Influenza Through Vaccine Innovation,
  • The 2019 White House study called for new federal efforts to speed up the time it takes to develop and deploy new vaccines
  • At even the highest rates it modeled, the pandemic flu in the exercise was still less contagious and less deadly than epidemiologists now say the coronavirus could be in the United States
  • “I don’t think corona is as big a threat as people make it out to be,” the acting chairman of the Council of Economic Advisers, Tomas Philipson, told reporters during a Feb. 18 briefing, on the same day that more than a dozen American cruise ship passengers who had contracted the virus were evacuated home
  • Mr. Philipson, whose academic specialty is health economics, was the acting head of the council when the September report was published
89More

The rise of American authoritarianism - Vox - 1 views

www.vox.com/...trump-authoritarianism election politics US authoritarianism psychology crisis policy economic
shared by lenaurick on 06 Mar 16 - No Cached
  • Trump currently does surprisingly well from the Gulf Coast of Florida to the towns of upstate New York, and he won a resounding victory in the Nevada caucuses
  • it wasn't just Trump but his supporters who seemed to have come out of nowhere, suddenly expressing, in large numbers, ideas far more extreme than anything that has risen to such popularity in recent memory
  • CBS News exit poll found that 75 percent of Republican voters supported banning Muslims from the United States. A PPP poll found that a third of Trump voters support banning gays and lesbians from the country. Twenty percent said Lincoln shouldn't have freed the slaves.
  • ...86 more annotations...
  • MacWilliams studies authoritarianism — not actual dictators, but rather a psychological profile of individual voters that is characterized by a desire for order and a fear of outsiders.
  • He polled a large sample of likely voters, looking for correlations between support for Trump and views that align with authoritarianism.
  • Authoritarians are thought to express much deeper fears than the rest of the electorate, to seek the imposition of order where they perceive dangerous change, and to desire a strong leader who will defeat those fears with force. They would thus seek a candidate who promised these things. And the extreme nature of authoritarians' fears, and of their desire to challenge threats with force, would lead them toward a candidate whose temperament was totally unlike anything we usually see in American politics — and whose policies went far beyond the acceptable norms.
  • He realized that he and a fellow political scientist, the University of North Carolina's Jonathan Weiler, had essentially predicted Trump's rise back in 2009, when they discovered something that would turn out to be far more significant than they then realized.
  • That year, Hetherington and Weiler published a book about the effects of authoritarianism on American politics. Through a series of experiments and careful data analysis, they had come to a surprising conclusion: Much of the polarization dividing American politics was fueled not just by gerrymandering or money in politics or the other oft-cited variables, but by an unnoticed but surprisingly large electoral group — authoritarians.
  • This trend had been accelerated in recent years by demographic and economic changes such as immigration, which "activated" authoritarian tendencies, leading many Americans to seek out a strongman leader who would preserve a status quo they feel is under threat and impose order on a world they perceive as increasingly alien.
  • What he found was astonishing: Not only did authoritarianism correlate, but it seemed to predict support for Trump more reliably than virtually any other indicator
  • According to Stenner's theory, there is a certain subset of people who hold latent authoritarian tendencies. These tendencies can be triggered or "activated" by the perception of physical threats or by destabilizing social change, leading those individuals to desire policies and leaders that we might more colloquially call authoritarian
  • What we found is a phenomenon that explains, with remarkable clarity, the rise of Donald Trump — but that is also much larger than him, shedding new light on some of the biggest political stories of the past decade. Trump, it turns out, is just the symptom. The rise of American authoritarianism is transforming the Republican Party and the dynamics of national politics, with profound consequences likely to extend well beyond this election.
  • a small but respected niche of academic research has been laboring over a question, part political science and part psychology, that had captivated political scientists since the rise of the Nazis.
  • How do people come to adopt, in such large numbers and so rapidly, extreme political views that seem to coincide with fear of minorities and with the desire for a strongman leader?
  • They believe that authoritarians aren't "activated" — they've always held their authoritarian preferences — but that they only come to express those preferences once they feel threatened by social change or some kind of threat from outsiders.
  • a button is pushed that says, "In case of moral threat, lock down the borders, kick out those who are different, and punish those who are morally deviant."
  • Authoritarians prioritize social order and hierarchies, which bring a sense of control to a chaotic world. Challenges to that order — diversity, influx of outsiders, breakdown of the old order — are experienced as personally threatening because they risk upending the status quo order they equate with basic security.
  • . The country is becoming more diverse, which means that many white Americans are confronting race in a way they have never had to before.
  • If you were to read every word these theorists ever wrote on authoritarians, and then try to design a hypothetical candidate to match their predictions of what would appeal to authoritarian voters, the result would look a lot like Donald Trump.
  • But political scientists say this theory explains much more than just Donald Trump, placing him within larger trends in American politics: polarization, the rightward shift of the Republican Party, and the rise within that party of a dissident faction challenging GOP orthodoxies and upending American politics. More than that, authoritarianism reveals the connections between several seemingly disparate stories about American politics. And it suggest that a combination of demographic, economic, and political forces, by awakening this authoritarian class of voters that has coalesced around Trump, have created what is essentially a new political party within the GOP — a phenomenon that broke into public view with the 2016 election but will persist long after it has ended.
  • This study of authoritarianism began shortly after World War II, as political scientists and psychologists in the US and Europe tried to figure out how the Nazis had managed to win such wide public support for such an extreme and hateful ideology.
  • Feldman, a professor at SUNY Stonybrook, believed authoritarianism could be an important factor in American politics in ways that had nothing to do with fascism, but that it could only reliably be measured by unlinking it from specific political preferences.
  • Feldman developed what has since become widely accepted as the definitive measurement of authoritarianism: four simple questions that appear to ask about parenting but are in fact designed to reveal how highly the respondent values hierarchy, order, and conformity over other values. Please tell me which one you think is more important for a child to have: independence or respect for elders? Please tell me which one you think is more important for a child to have: obedience or self-reliance? Please tell me which one you think is more important for a child to have: to be considerate or to be well-behaved? Please tell me which one you think is more important for a child to have: curiosity or good manners?
  • Trump's rise. And, like them, I wanted to find out what the rise of authoritarian politics meant for American politics. Was Trump just the start of something bigger?
  • In the 1960s, the Republican Party had reinvented itself as the party of law, order, and traditional values — a position that naturally appealed to order- and tradition-focused authoritarians. Over the decades that followed, authoritarians increasingly gravitated toward the GOP, where their concentration gave them more and more influence over time.
  • Stenner argued that many authoritarians might be latent — that they might not necessarily support authoritarian leaders or policies until their authoritarianism had been "activated."
  • This activation could come from feeling threatened by social changes such as evolving social norms or increasing diversity, or any other change that they believe will profoundly alter the social order they want to protect. In response, previously more moderate individuals would come to support leaders and policies we might now call Trump-esque.
  • Ever since, political scientists who study authoritarianism have accumulated a wealth of data on who exhibits those tendencies and on how they align with everything from demographic profiles to policy preferences.
  • People do not support extreme policies and strongman leaders just out of an affirmative desire for authoritarianism, but rather as a response to experiencing certain kinds of threats.
  • when non-authoritarians feel sufficiently scared, they also start to behave, politically, like authoritarians.
  • a distinction between physical threats such as terrorism, which could lead non-authoritarians to behave like authoritarians, and more abstract social threats, such as eroding social norms or demographic changes, which do not have that effect. That distinction would turn out to be important, but it also meant that in times when many Americans perceived imminent physical threats, the population of authoritarians could seem to swell rapidly.
  • Together, those three insights added up to one terrifying theory: that if social change and physical threats coincided at the same time, it could awaken a potentially enormous population of American authoritarians, who would demand a strongman leader and the extreme policies necessary, in their view, to meet the rising threats.
  • This theory would seem to predict the rise of an American political constituency that looks an awful lot like the support base that has emerged, seemingly out of nowhere, to propel Donald Trump from sideshow loser of the 2012 GOP primary to runaway frontrunner in 2016.
  • If this rise in American authoritarianism is so powerful as to drive Trump's ascent, then how else might it be shaping American politics? And what effect could it have even after the 2016 race has ended?
  • The second set asked standard election-season questions on preferred candidates and party affiliation. The third set tested voters' fears of a series of physical threats, ranging from ISIS and Russia to viruses and car accidents. The fourth set tested policy preferences, in an attempt to see how authoritarianism might lead voters to support particular policies.
  • If the research were right, then we'd expect people who scored highly on authoritarianism to express outsize fear of "outsider" threats such as ISIS or foreign governments versus other threats. We also expected that non-authoritarians who expressed high levels of fear would be more likely to support Trump. This would speak to physical fears as triggering a kind of authoritarian upsurge, which would in turn lead to Trump support.
  • We asked people to rate a series of social changes — both actual and hypothetical — on a scale of "very good" to "very bad" for the country. These included same-sex marriage, a path to citizenship for undocumented immigrants living in the United States, and American Muslims building more mosques in US cities.
  • If the theory about social change provoking stress amongst authoritarians turned out to be correct, then authoritarians would be more likely to rate the changes as bad for the country.
  • Authoritarianism was the best single predictor of support for Trump, although having a high school education also came close.
  • people in this 44 percent only vote or otherwise act as authoritarians once triggered by some perceived threat, physical or social. But that latency is part of how, over the past few decades, authoritarians have quietly become a powerful political constituency without anyone realizing it.
  • More than 65 percent of people who scored highest on the authoritarianism questions were GOP voters. More than 55 percent of surveyed Republicans scored as "high" or "very high" authoritarians.
  • People whose scores were most non-authoritarian — meaning they always chose the non-authoritarian parenting answer — were almost 75 percent Democrats.
  • this is not a story about how Republicans are from Mars and Democrats are from Venus. It's a story of polarization that increased over time.
  • Democrats, by contrast, have positioned themselves as the party of civil rights, equality, and social progress — in other words, as the party of social change, a position that not only fails to attract but actively repels change-averse authoritarians.
  • Over the next several decades, Hetherington explained to me, this led authoritarians to naturally "sort" themselves into the Republican Party.
  • It is not for nothing that our poll found that more than half of the Republican respondents score as authoritarian.
  • Our results found that 44 percent of white respondents nationwide scored as "high" or "very high" authoritarians, with 19 percent as "very high." That's actually not unusual, and lines up with previous national surveys that found that the authoritarian disposition is far from rare1.
  • among Republicans, very high/high authoritarianism is very predictive of support for Trump." Trump has 42 percent support among Republicans but, according to our survey, a full 52 percent support among very high authoritarians.
  • Trump support was much lower among Republicans who scored low on authoritarianism: only 38 percent.
  • But that's still awfully high. So what could explain Trump's support among non-authoritarians? I suspected the answer might lie at least partly in Hetherington and Suhay's research on how fear affects non-authoritarian voters,
  • Authoritarians, we found in our survey, tend to most fear threats that come from abroad, such as ISIS or Russia or Iran. These are threats, the researchers point out, to which people can put a face; a scary terrorist or an Iranian ayatollah. Non-authoritarians were much less afraid of those threats. For instance, 73 percent of very high-scoring authoritarians believed that terrorist organizations like ISIS posed a "very high risk" to them, but only 45 percent of very low-scoring authoritarians did. Domestic threats like car accidents, by contrast, were much less frightening to authoritarians.
  • A subgroup of non-authoritarians were very afraid of threats like Iran or ISIS. And the more fear of these threats they expressed, the more likely they were to support Trump.
  • that non-authoritarians who are sufficiently frightened of physical threats such as terrorism could essentially be scared into acting like authoritarians.
  • That's important, because for years now, Republican politicians and Republican-leaning media such as Fox News have been telling viewers nonstop that the world is a terrifying place and that President Obama isn't doing enough to keep Americans safe.
  • Republican voters have been continually exposed to messages warning of physical dangers. As the perception of physical threat has risen, this fear appears to have led a number of non-authoritarians to vote like authoritarians — to support Trump.
  • But when establishment candidates such as Marco Rubio try to match Trump's rhetoric on ISIS or on American Muslims, they may end up deepening the fear that can only lead voters back to Trump.
  • pushing authoritarians to these extremes: the threat of social change.
  • This could come in the form of evolving social norms, such as the erosion of traditional gender roles or evolving standards in how to discuss sexual orientation. It could come in the form of rising diversity, whether that means demographic changes from immigration or merely changes in the colors of the faces on TV. Or it could be any changes, political or economic, that disrupt social hierarchies.
  • What these changes have in common is that, to authoritarians, they threaten to take away the status quo as they know it — familiar, orderly, secure — and replace it with something that feels scary because it is different and destabilizing, but also sometimes because it upends their own place in societ
  • Authoritarians were significantly more likely to rate almost all of the actual and hypothetical social issues we asked about as "bad" or "very bad" for the country.
  • an astonishing 44 percent of authoritarians believe same-sex marriage is harmful to the country. Twenty-eight percent rated same-sex marriage as "very bad" for America, and another 16 percent said that it’s "bad." Only about 35 percent of high-scoring authoritarians said same-sex marriage was "good" or "very good" for the country.
  • Non-authoritarians tended to rate same-sex marriage as "good" or "very good" for the country.
  • The fact that authoritarians and non-authoritarians split over something as seemingly personal and nonthreatening as same-sex marriage is crucial for understanding how authoritarianism can be triggered by even a social change as minor as expanding marriage rights.
  • A whopping 56.5 percent of very high-scoring authoritarians said it was either "bad" or "very bad" for the country when Muslims built more mosques. Only 14 percent of that group said more mosques would be "good" or "very good."
  • The literature on authoritarianism suggests this is not just simple Islamophobia, but rather reflects a broader phenomenon wherein authoritarians feel threatened by people they identify as "outsiders" and by the possibility of changes to the status quo makeup of their communities.
  • This would help explain why authoritarians seem so prone to reject not just one specific kind of outsider or social change, such as Muslims or same-sex couples or Hispanic migrants, but rather to reject all of them.
  • Working-class communities have come under tremendous economic strain since the recession. And white people are also facing the loss of the privileged position that they previously were able to take for granted. Whites are now projected to become a minority group over the next few decades, owing to migration and other factors. The president is a black man, and nonwhite faces are growing more common in popular culture. Nonwhite groups are raising increasingly prominent political demands, and often those demands coincide with issues such as policing that also speak to authoritarian concerns.
  • the loss of working-class jobs in this country is a real and important issue, no matter how one feels about fading white privilege — but that is not the point.
  • mportant political phenomenon we identify as right-wing populism, or white working-class populism, seems to line up, with almost astonishing precision, with the research on how authoritarianism is both caused and expressed.
  • It all depends, he said, on whether a particular group of people has been made into an outgroup or not — whether they had been identified as a dangerous other.
  • Since September 2001, some media outlets and politicians have painted Muslims as the other and as dangerous to America. Authoritarians, by nature, are more susceptible to these messages, and thus more likely to come to oppose the presence of mosques in their communities.
  • , it helps explain how Trump's supporters have come to so quickly embrace such extreme policies targeting these outgroups: mass deportation of millions of people, a ban on foreign Muslims visiting the US. When you think about those policy preferences as driven by authoritarianism, in which social threats are perceived as especially dangerous and as demanding extreme responses, rather than the sudden emergence of specific bigotries, this starts to make a lot more sense.
  • authoritarians are their own distinct constituency: effectively a new political party within the GOP.
  • Authoritarians generally and Trump voters specifically, we found, were highly likely to support five policies: Using military force over diplomacy against countries that threaten the United States Changing the Constitution to bar citizenship for children of illegal immigrants Imposing extra airport checks on passengers who appear to be of Middle Eastern descent in order to curb terrorism Requiring all citizens to carry a national ID card at all times to show to a police officer on request, to curb terrorism Allowing the federal government to scan all phone calls for calls to any number linked to terrorism
  • What these policies share in common is an outsize fear of threats, physical and social, and, more than that, a desire to meet those threats with severe government action — with policies that are authoritarian not just in style but in actuality
  • The real divide is over how far to go in responding. And the party establishment is simply unwilling to call for such explicitly authoritarian policies.
  • There was no clear correlation between authoritarianism and support for tax cuts for people making more than $250,000 per year, for example. And the same was true of support for international trade agreements.
  • he way he reduces everything to black-and-white extremes of strong versus weak, greatest versus worst. His simple, direct promises that he can solve problems that other politicians are too weak to manage.
  • That's why it's a benefit rather than a liability for Trump when he says Mexicans are rapists or speaks gleefully of massacring Muslims with pig-blood-tainted bullets: He is sending a signal to his authoritarian supporters that he won't let "political correctness" hold him back from attacking the outgroups they fear.
  • Rather, it was that authoritarians, as a growing presence in the GOP, are a real constituency that exists independently of Trump — and will persist as a force in American politics regardless of the fate of his candidacy.
  • If Trump loses the election, that will not remove the threats and social changes that trigger the "action side" of authoritarianism. The authoritarians will still be there. They will still look for candidates who will give them the strong, punitive leadership they desire.
  • ust look at where the Tea Party has left the Republican establishment. The Tea Party delivered the House to the GOP in 2010, but ultimately left the party in an unresolved civil war. Tea Party candidates have challenged moderates and centrists, leaving the GOP caucus divided and chaotic.
  • Authoritarians may be a slight majority within the GOP, and thus able to force their will within the party, but they are too few and their views too unpopular to win a national election on their own.
  • the rise of authoritarianism as a force within American politics means we may now have a de facto three-party system: the Democrats, the GOP establishment, and the GOP authoritarians.
  • It will become more difficult for Republican candidates to win the presidency because the candidates who can win the nomination by appealing to authoritarian primary voters will struggle to court mainstream voters in the general election. They will have less trouble with local and congressional elections, but that might just mean more legislative gridlock as the GOP caucus struggles to balance the demands of authoritarian and mainstream legislators. The authoritarian base will drag the party further to the right on social issues, and will simultaneously erode support for traditionally conservative economic policies.
  • Norms around gender, sexuality, and race will continue evolving. Movements like Black Lives Matter will continue chipping away at the country's legacy of institutionalized discrimination, pursuing the kind of social change and reordering of society that authoritarians find so threatening.
  • The chaos in the Middle East, which allows groups like ISIS to flourish and sends millions of refugees spilling into other countries, shows no sign of improving. Longer term, if current demographic trends continue, white Americans will cease to be a majority over the coming decades.
  • t will be a GOP that continues to perform well in congressional and local elections, but whose divisions leave the party caucus divided to the point of barely functioning, and perhaps eventually unable to win the White House.
  • For decades, the Republican Party has been winning over authoritarians by implicitly promising to stand firm against the tide of social change, and to be the party of force and power rather than the party of negotiation and compromise. But now it may be discovering that its strategy has worked too well — and threatens to tear the party apart.
48More

The Upstream Cause of the Youth Mental Health Crisis is the Loss of Community - 0 views

www.afterbabel.com/...ream-cause-of-the-youth-mental youth mental health health crisis community
shared by Javier E on 02 Aug 24 - No Cached
  • In our first post, Zach discussed Robert Putnam’s essential work on the decline of social capital and trust, which happened in part because new individualizing technologies (such as television) emerged and participation in local and communal activities waned. As communities weakened and trust eroded, so did the play-based childhood.
  • In the second post, we featured an essay by Seth Kaplan, author and lecturer at Johns Hopkins who studies fragile states. In it, he argued that to restore the play-based childhood, we must first rebuild strong in-person local communities
  • A web of overlapping, affect-laden associations and relationships that crisscross and reinforce each other;
  • ...45 more annotations...
  • 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.
9More

What Housework Has to Do With Waistlines - NYTimes.com - 0 views

well.blogs.nytimes.com/...work-has-to-do-with-waistlines exercise housework historical research weight
shared by Javier E on 27 Feb 13 - No Cached
  • The study, published this month in PLoS One, is a follow-up to an influential 2011 report which used data from the U.S. Bureau of Labor Statistics to determine that, during the past 50 years, most American workers began sitting down on the job. Physical activity at work, such as walking or lifting, almost vanished, according to the data, with workers now spending most of their time seated before a computer or talking on the phone. Consequently, the authors found, the average American worker was burning almost 150 fewer calories daily at work than his or her employed parents had, a change that had materially contributed to the rise in obesity during the same time frame, especially among men
  • Dr. Archer set out to find data about how women had once spent their hours at home and whether and how their patterns of movement had changed over the years.
  • pulled data from the diaries about how many hours the women were spending in various activities, how many calories they likely were expending in each of those tasks, and how the activities and associated energy expenditures changed over the years.
  • ...6 more annotations...
  • Women, they found, once had been quite physically active around the house, spending, in 1965, an average of 25.7 hours a week cleaning, cooking and doing laundry. Those activities, whatever their social freight, required the expenditure of considerable energy.
  • Forty-five years later, in 2010, things had changed dramatically. By then, the time-use diaries showed, women were spending an average of 13.3 hours per week on housework.
  • In 1965, women typically had spent about eight hours a week sitting and watching television
  • By 2010, those hours had more than doubled, to 16.5 hours per week.
  • According to the authors’ calculations, American women not employed outside the home were burning about 360 fewer calories every day in 2010 than they had in 1965, with working women burning about 132 fewer calories at home each day in 2010 than in 1965.
  • we should start consciously tracking what we do when we are at home and try to reduce the amount of time spent sitting. “Walk to the mailbox,” he said. Chop vegetables in the kitchen. Play ball with your, or a neighbor’s, dog. Chivvy your spouse into helping you fold sheets.
8More

Russell Brand on revolution: "We no longer have the luxury of tradition" - 0 views

www.newstatesman.com/...russell-brand-on-revolution revolution activism conservativism crisis politics spiritual
shared by Javier E on 29 Nov 13 - No Cached
  • var _gaq = _gaq || []; _gaq.push(['_setAccount', 'UA-121540-1']); _gaq.push(['_trackPageview']); (function() { var ga = document.createElement('script'); ga.type = 'text/javascript'; ga.async = true; ga.src = ('https:' == document.location.protocol ? 'https://ssl' : 'http://www') + '.google-analytics.com/ga.js'; var s = document.getElementsByTagName('script')[0]; s.parentNode.insertBefore(ga, s); })(); Russell Brand on revolution: “We no longer have the luxury of tradition” window.onerror=function(){ return true; } var googletag = googletag || {}; googletag.cmd = googletag.cmd || []; (function() { var gads = document.createElement('script'); gads.async = true; gads.type = 'text/javascript'; var useSSL = 'https:' == document.location.protocol; gads.src = (useSSL ? 'https:' : 'http:') + '//www.googletagservices.com/tag/js/gpt.js'; var node = document.getElementsByTagName('script')[0]; node.parentNode.insertBefore(gads, node); } )(); googletag.cmd.push(function() { googletag.defineSlot('/5269235/Test_NS_Minister_widesky', [160, 600], 'div-gpt-ad-1357235299034-0').addService(googletag.pubads()); googletag.pubads().enableSingleRequest(); googletag.enableServices(); } ); var loc = document.URL; var n=loc.split("/",4); var str= n[3]; googletag.cmd.push(function() { googletag.defineSlot('/5269235/NS_Home_Exp_5', [[4, 4], [975, 250]], 'div-gpt-ad-1366822588103-0').addService(googletag.pubads()); googletag.defineSlot('/5269235/NS_Vodafone_Politics_MPU', [300, 250], 'div-gpt-ad-1359018650733-0').addService(googletag.pubads()); googletag.defineSlot('/5269235/Vodafone_Widesky', [160, 600], 'div-gpt-ad-1359372266606-0').addService(googletag.pubads()); googletag.defineSlot('/5269235/Vodafone_NS_Pol_MPU2', [300, 250], 'div-gpt-ad-1359374444737-0').addService(googletag.pubads()); googletag.defineSlot('/5269235/NS_Vodafone_Politics_Leader', [728, 90], 'div-gpt-ad-1359018522590-0').addService(googletag.pubads()); googletag.defineSlot('/5269235/NewStatesman_Bottom_Leader', [728, 90], 'div-gpt-ad-1320926772906-0').addService(googletag.pubads()); googletag.pubads().setTargeting("Section", str);googletag.pubads().setTargeting("Keywords","property news","uk house prices","property development","property ladder","housing market","property market","london property market","uk property market","housing bubble","property market analysis","housing uk","housing market uk","growth charts uk","housing market predictions","property market uk","housing ladder","house market news","housing boom","property boom","uk property market news","housing market trends","the uk housing market","london property boom","property market in uk","news on housing market","the housing market in the uk","uk property boom","housing market in the uk","how is the housing market","property market in the uk","housing market trend","the uk property market","how is housing market","help to buy news","help to buy government","housing uk help to buy","housing market help to buy","property news help to buy","spectator blog help to buy","property boom help to buy","uk property boom help to buy","housing ladde
  • The right has all the advantages, just as the devil has all the best tunes. Conservatism appeals to our selfishness and fear, our desire and self-interest; they neatly nurture and then harvest the inherent and incubating individualism. I imagine that neurologically the pathway travelled by a fearful or selfish impulse is more expedient and well travelled than the route of the altruistic pang. In simple terms of circuitry I suspect it is easier to connect these selfish inclinations.
  • This natural, neurological tendency has been overstimulated and acculturated. Materialism and individualism do in moderation make sense.
  • ...5 more annotations...
  • Biomechanically we are individuals, clearly. On the most obvious frequency of our known sensorial reality we are independent anatomical units. So we must take care of ourselves. But with our individual survival ensured there is little satisfaction to be gained by enthroning and enshrining ourselves as individuals.
  • For me the solution has to be primarily spiritual and secondarily political.
  • By spiritual I mean the acknowledgement that our connection to one another and the planet must be prioritised. Buckminster Fuller outlines what ought be our collective objectives succinctly: “to make the world work for 100 per cent of humanity in the shortest possible time through spontaneous co-operation without ecological offence or the disadvantage of anyone”. This maxim is the very essence of “easier said than done” as it implies the dismantling of our entire socio-economic machinery. By teatime.
  • The price of privilege is poverty. David Cameron said in his conference speech that profit is “not a dirty word”. Profit is the most profane word we have. In its pursuit we have forgotten that while individual interests are being met, we as a whole are being annihilated. The reality, when not fragmented through the corrupting lens of elitism, is we are all on one planet.
  • Suffering of this magnitude affects us all. We have become prisoners of comfort in the absence of meaning. A people without a unifying myth. Joseph Campbell, the comparative mythologist, says our global problems are all due to the lack of relevant myths.
9More

The Rationale Behind Verizon's Interest in Yahoo's Web Business - Bloomberg Business - 0 views

www.bloomberg.com/...terest-in-yahoo-s-web-business verizon interest rationale yahoo web business bloomberg economic
shared by katyshannon on 10 Dec 15 - No Cached
  • Verizon Communications Inc. wants to attract teens and millennials who are more used to watching videos on their mobile phones than on a TV in a living room. Yahoo! Inc., which is spinning out its main Web business, has been investing heavily in online-video content.
  • So it’s probably not a coincidence that executives at the largest U.S. wireless carrier were chattier than usual this week when asked the question: Would Verizon be interested in buying Yahoo’s Internet assets?
  • Chief Executive Officer Lowell McAdam and Chief Financial Officer Fran Shammo, using similar language, both said within the past two days that Verizon would look at a Yahoo deal "if it made sense," instead of declining to comment. 
  • ...6 more annotations...
  • Both Yahoo and Verizon have staked their future on mobile Internet and video growth. On paper, a deal would make sense. New York-based Verizon has already shown a willingness to buy Internet properties with its $4.4 billion acquisition of AOL in June. Yahoo’s Web business, which could fetch a price of $3 billion to $3.5 billion, based on analysts’ estimates, will be spun out as part of Yahoo’s tax-saving move to return the value of its $31 billion stake in Alibaba Group Holding Ltd. to shareholders.
  • Yahoo’s board has said that it’s not putting the company up for sale, and that the move is the best way to deal with the Alibaba holdings.
  • "Yahoo would help check several boxes in what Verizon is looking to build at the moment with a cross-platform ad strategy and new video offerings," said Jan Dawson, an analyst at Jackdaw Research LLC.
  • Yahoo’s mail, finance, sports and video sites attract more than 1 billion users, a prized asset that would add to AOL’s 2 million users. That kind of Web traffic, along with exclusive content, is just what Verizon, with more than 105 million wireless subscribers, needs to lure and retain a new smartphone-addicted generation.
  • A Yahoo deal would also give Verizon a new source of revenue, through online advertising, especially from Yahoo’s video-ad unit Brightroll. Verizon has introduced an ad-supported mobile-video service called go90 (named for tilting small screens 90 degrees to watch videos). By seeking users and marketers, Verizon is essentially bulking up to compete with the likes of Facebook Inc. and Google, which are starting to move into the Internet space as a way to drive more users to their online properties.
  • "Verizon is vying to get a larger share of advertisers’ wallets and adding Yahoo would help strengthen AOL as the No. 3 player," said Brian Wieser, an analyst at Pivotal Research Group. "Yahoo has a lot of users in a well defined environment. That is very valuable to advertisers."
4More

Cars' Voice-Activated Systems Distract Drivers, Study Finds - The New York Times - 0 views

www.nytimes.com/...tract-drivers-study-finds.html cars new york times culture
shared by rachelramirez on 22 Oct 15 - No Cached
  • Cars’ Voice-Activated Systems Distract Drivers, Study Finds
  • The research found that the most complicated voice-activated systems can take a motorist’s mind off the road for as long as 27 seconds after he or she stops interacting with the system
  • Texting while driving, an activity that is almost universally condemned as dangerous, is becoming more commonplace, not less so, according to surveys in recent years by the AAA Foundation.
  • ...1 more annotation...
  • The most distracting, he found, belonged to the Mazda 6, followed by Microsoft’s Cortana system, and cars from Hyundai, Chrysler, Nissan and Volkswagen. Apple’s Siri system also created a “high distraction,” the research found.
5More

Maryland and Virginia governors unveil road maps to recovery but say states aren't read... - 0 views

www.cnn.com/...index.html
shared by katherineharron on 26 Apr 20 - No Cached
  • Hogan, a Republican, said that the state plans to follow the federal guidelines issued by President Donald Trump last week, which call for states to meet specific metrics before considering lifting restrictions, including a 14-day downward trend in key numbers. He warned that the state has not yet hit its peak for coronavirus cases and deaths,.
  • The Democrat explained that phase one of reopening will require downward trends in new cases and hospitalizations for 14 days, increased testing and contact tracing and a sustainable supply of hospital beds and personal protective equipment. The specifics for the second and third phases have not yet been unveiled.
  • The first stage would begin by lifting the state's stay-at-home order. It would include reopening many small businesses, including certain retail shops and golf courses, and restarting many lower-risk community activities, like recreational boating and fishing, tennis and outdoor religious activities, along with outdoor fitness and gym classes. It would also include the resumption of elective outpatient surgeries and procedures in certain counties with lower concentrations of cases.
  • ...2 more annotations...
  • The second stage would see a larger number of businesses would reopen, nonessential workers who cannot telework return to work and other public activities return. Indoor religious gatherings could resume with limited capacity and physical distancing measures. It would include raising the limits on the number of people in social gatherings. Stage two could also see more normal public transit schedules and opening of restaurants and potentially bars with significant safety restrictions.
  • The third and final stage would reinstitute higher-risk activities, such as larger social gatherings, events, religious gatherings and activities at entertainment venues and a further lessening of restrictions at hospitals and eventually nursing homes.
3More

Physical activity in lessons improves students' attainment -- ScienceDaily - 0 views

www.sciencedaily.com/...191015192938.htm
shared by blythewallick on 19 Oct 19 - No Cached
  • In another study in the Netherlands, primary school children who took part in physically active lessons three times a week over two years made significantly better progress in spelling and mathematics than their peers -- equating to four months of extra learning gains.
  • In one of the 42 studies analysed, eight- and nine-year-olds simulated travelling the world by running on the spot in between answering questions relating to different countries. The research team, also led by Dr Norris at UCL, concluded that the children were more active and more focused on the task than peers in a control group, following teachers' instructions more closely.
  • "These improvements in physical activity levels and educational outcomes are the result of quite basic physical exercises. Teachers can easily incorporate these physical active lessons in the existing curriculum to improve the learning experience of students."
8More

Tulsi Gabbard, running for president, won't seek re-election to Congress - 0 views

www.nbcnews.com/...on-t-seek-re-election-n1071756 politics us
shared by brookegoodman on 25 Oct 19 - No Cached
  • Democratic presidential candidate Tulsi Gabbard said Thursday that she will not run for re-election for her U.S. representative seat, saying she wants to focus on trying to secure her party’s nomination to challenge President Donald Trump.
  • "I believe that I can best serve the people of Hawaii and our country as your president and commander-in-chief,"
  • An Iowa Democratic caucus poll out this week put Gabbard at 3 percent, with former Vice President Joe Biden, Massachusetts Sen. Elizabeth Warren, and South Bend, Indiana, Mayor Pete Buttigieg in the top three spots.
  • ...5 more annotations...
  • Clinton did not mention Gabbard by name but said she believes one candidate is "the favorite of the Russians."
  • Clinton was referring to the GOP grooming Gabbard, not Russians.
  • Gabbard reacted by tweeting that Clinton is “the queen of warmongers, embodiment of corruption, and personification of the rot that sickened the Democratic Party for so long."
  • Trump attacked Clinton for the suggestion earlier this week, and said Clinton and other Democrats claim everyone opposed to them is a Russian agent.
  • ratic presidential candidate Tulsi Gabbard said Thursday that she will not run for re-election for her U.S. representative seat, saying she wants to focus on trying to secure her party’s nomination to challenge President Donald Trump.Gabbard, who represents Hawaii, made the announcement in a video and email to supporters."I believe that I can best serve the people of Hawaii and our country as your president and commander-in-chief," Gabbard said in the video.Let our news meet your inbox. The news and stories that matters, delivered weekday mornings.Sign UpThis site is protected by recaptcha Privacy Policy | Terms of Service She also expressed gratitude to the people of Hawaii for her nearly seven years in Congress.In January, Hawaii state Sen. Kai Kahele, a Democrat, said he would run for Gabbard's seat, NBC affiliate KHNL of Honolulu reported.An Iowa Democratic caucus poll out this week put Gabbard at 3 percent, with former Vice President Joe Biden, Massachusetts Sen. Elizabeth Warren, and South Bend, Indiana, Mayor Pete Buttigieg in the top three spots.She is in a crowded field of Democrats seeking the nomination to run for president. Another candidate, U.S. Rep. Tim Ryan, D-Ohio, ended his long-shot presidential campaign Thursday.RecommendedvideovideoMcConnell: If the House impeaches Trump, Senate will hold trial 'until we finish'2020 Election2020 ElectionTim Ryan drops out of presidential raceHillary Clinton recently suggested that she believed Republicans were grooming one of the Democrats for a third-party candidacy. Clinton did not mention Gabbard by name but said she believes one candidate is "the favorite of the Russians."
‹ Previous 21 - 40 of 1435 Next › Last »
Showing 20▼ items per page