Group items tagged

This is also critical if we are to overcome the demographic hurdles our labor market faces as Baby Boomers retire and the influx of Millennials slows.

The ugly truth of our criminal justice system is that one in three Black men in the United States has a felony record, putting them at a severe disadvantage.

Admirable commitments by companies to be more inclusive in hiring must be coupled with an intentional process for second chance hiring. My research has shown that "disposable employee" labor, in which the employer is trying to get the cheapest effective wage possible through minimum wage jobs that are subsidized by temporary tax credits (Work Opportunity Tax Credits), will not work because they do not adequately distinguish who is ready for reemployment nor do they make the sufficient investment to support rehabilitation.

Done right, second chance hiring that offers the needed training and support repays the required investment with loyal, productive and profitable employees (the upfront costs can even effectively be offset by tax credits). Without such an approach, our labor force cannot hope to reflect the diversity of our population.

Employment is foundational to rehabilitation for the millions of Americans with records and the more than 600,000 who exit prisons each year.

Even those businesses such as schools, defense contractors and financial institutions that have regulatory constraints on who they can hire have important roles to play. They can support education, reentry and workforce development nonprofits or advocate for policies that improve employment outcomes. Ultimately, businesses should help lead because they can -- and they must if we are to live up to the American aspiration to be a land of opportunity for all. /* dynamic basic css */ .AR_36.ob-widget .ob-widget-items-container {margin:0;padding:0;} .AR_36.ob-widget .ob-widget-items-container .ob-clearfix {display:block;width:100%;float:none;clear:both;height:0px;line-height:0px;font-size:0px;} .AR_36.ob-widget .ob-widget-items-container.ob-multi-row {padding-top: 2%;} .AR_36.ob-widget .ob-dynamic-rec-container {position:relative;margin:0;padding;0;} .AR_36.ob-widget .ob-dynamic-rec-link, .AR_36.ob-widget .ob-dynamic-rec-link:hover {text-decoration:none;} .AR_36.ob-widget .ob-rec-image-container .ob-video-icon-container {position:absolute;left:0;height:50%;width:100%;text-align:center;top:25%;} .AR_36.ob-widget .ob-rec-image-container .ob-video-icon {display:inline-block;height:100%;float:none;opacity:0.7;transition: opacity 500ms;} .AR_36.ob-widget .ob-rec-image-container .ob-video-icon:hover {opacity:1;} .AR_36.ob-widget .ob_what{direction:ltr;clear:both;padding:5px 10px 0px;} .AR_36 .ob_what a:after {content: "";vertical-align:super;;;background-image: url('https://widgets.outbrain.com/images/widgetIcons/achoice.svg');background-size:75% 75%;width:12px;height:12px;padding-left:4px;display:inline-block;background-repeat:no-repeat;background-position:right center;border-left:1px solid #999;} .AR_36.ob-widget .ob_what a{color:#757575;font-size:11px;font-family:arial;text-decoration: none;} .AR_36.ob-widget .ob_what.ob-hover:hover a{text-decoration: underline;} .AR_36.ob-widget .ob_amelia, .AR_36.ob-widget .ob_amelia_covid, .AR_36.ob-widget .ob_logo, .AR_36.ob-widget .ob_feed_logo, .AR_36.ob-widget .ob_sfeed_logo, .AR_36.ob-widget .ob_text_logo{vertical-align:baseline !important;display:inline-block;vertical-align:text-bottom;padding:0px 5px;box-sizing:content-box;-moz-box-sizing:content-box;-webkit-box-sizing:content-box;} .AR_36.ob-widget .ob_amelia{background:url('https://widgets.outbrain.com/images/widgetIcons/ob_logo_16x16.png') no-repeat center top;width:16px;height:16px;margin-bottom:-2px;} .AR_36.ob-widget .ob_amelia_covid{width:auto;height:16px;max-height:16px;margin-bottom:-2px;} .AR_36.ob-widget .ob_logo{background:url('https://widgets.outbrain.com/images/widgetIcons/ob_logo_67x12.png') no-repeat center top;width:67px;height:12px;} .AR_36.ob-widget .ob_text_logo{background:url('https://widgets.outbrain.com/images/widgetIcons/ob_text_logo_67x22.png') no-repeat center top;width:67px;height:22px;} .AR_36.ob-widget .ob_feed_logo{background:url('https://widgets.outbrain.com/images/widgetIcons/ob_feed_logo.png') no-repeat center top;width:86px;height:23px;} .AR_36.ob-widget .ob_sfeed_logo{background:url('https://widgets.outbrain.com/images/widgetIcons/ob_smartFeedLogo.min.svg') no-repeat center top;width:140px;height:21px;} .AR_36.ob-widget .ob_sphere_logo{background:url('https://widgets.outbrain.com/images/widgetIcons/ob_sphere.svg') no-repeat center top;width:93px;height:27px;vertical-align:baseline!important;display:inline-block;vertical-align:text-bottom;padding:0px 0px;box-sizing:content-box;-moz-box-sizing:content-box;-webkit-box-sizing:content-box;} @media only screen and (-webkit-min-device-pixel-ratio: 2),(min-resolution: 192dpi) { .AR_36.ob-widget .ob_amelia{background:url('https://widgets.outbrain.com/images/widgetIcons/ob_logo_16x16@2x.png') no-repeat center top;width:16px;height:16px;margin-bottom:-2px; background-size:16px 32px;} .AR_36.ob-widget .ob_logo{background:url('https://widgets.outbrain.com/images/widgetIcons/ob_logo_67x12@2x.png') no-repeat center top;width:67px;height:12px; background-size:67px 24px;} .AR_36.ob-widget .ob_text_logo{background:url('https://widgets.outbrain.com/images/widgetIcons/ob_text_logo_67x22@2x.png') no-repeat center top;width:67px;height:20px; background-size:67px 40px;} .AR_36.ob-widget .ob_feed_logo{background:url('https://widgets.outbrain.com/images/widgetIcons/ob_feed_logo@2x.png') no-repeat center top;width:86px;height:23px;background-size: 86px 23px;} } @media only screen and (max-width: 600px) { .AR_36.ob-widget .ob_sfeed_logo{width:90px;height:20px;background-size:90px 20px;} } .AR_36.ob-widget:hover .ob_amelia, .AR_36.ob-widget:hover .ob_logo, .AR_36.ob-widget:hover .ob_text_logo{background-position:center bottom;} .AR_36.ob-widget {position:relative;} .AR_36.ob-widget .ob_what{position:absolute;top:5px;right:0px;} .AR_36.ob-widget .ob_what{text-align:right;} .AR_36.ob-widget .ob-rec-image-container .ob-rec-image {display:block;} .AR_36.ob-widget .ob-rec-description {max-height:53.0px;overflow:hidden;font-weight:normal;} /* dynamic smartfeed-strip css */ .AR_36.ob-widget .ob-rec-image-container {position:relative;} .AR_36.ob-widget .ob-rec-image-container .ob-image-ratio {height:0px;line-height:0px;padding-top:66.66666666666666%;} .AR_36.ob-widget .ob-rec-image-container img.ob-rec-image {width:100%;position:absolute;top:0;bottom:0;left:0;right:0;opacity:0;transition:all 750ms;} .AR_36.ob-widget .ob-rec-image-container img.ob-show {opacity:1;} .AR_36.ob-widget .ob-rec-image-container .ob-rec-label {position:absolute;bottom:0px;left:0px;padding:0px 3px;background-color:#666;color:white;font-size:10px;line-height:15px;} .AR_36.ob-widget .ob-rec-image-container .ob-rec-video {position:absolute;top:0;left:0;right:0;bottom:0;width:100%;height:100%;min-height:0;min-width:0} .AR_36.ob-widget {width:auto;min-width:120px;} .AR_36.ob-widget .ob-dynamic-rec-container {display:inline-block;vertical-align:top;min-width:50px;width:48.85%;box-sizing:border-box;-moz-box-sizing:border-box;} .AR_36.ob-widget .ob-unit.ob-rec-brandName, .AR_36.ob-widget .ob-unit.ob-rec-brandLogo-container, .AR_36.ob-widget .ob-rec-brandLogoAndName {display:inline-block;} .AR_36.ob-widget .ob-rec-brandLogo {width:20px;height:20px;} .AR_36.ob-widget .ob-rec-brandName {vertical-align:bottom;} .AR_36.ob-widget .ob-unit.ob-rec-brandName {vertical-align:super;} .AR_36.ob-widget .ob-widget-items-container {direction: ltr;} .AR_36.ob-widget .ob-dynamic-rec-container {margin-left:0;} .AR_36.ob-widget .ob-dynamic-rec-container ~ .ob-dynamic-rec-container {margin:0 0 0 2.3%; } .AR_36.ob-widget .ob-widget-header {direction:ltr; } .AR_36.ob-widget .ob-unit {display:block;

I’d add a few more: the conservative influence of John Paul II’s papacy for Generation-X Catholics

the seemingly positive trendlines on race relations (visible in polls of African-Americans as well as whites) from the 1990s through the early Obama years

By virtue of having “adulted” more successfully than millennials — marrying, homebuying and having kids earlier and in larger numbers — Generation X enjoys a certain bourgeois realism about what sustains human societies, what choices in your 20s will make you happiest in your 40s, that’s absent from the very-online progressivism of the young

the characteristic Gen X weakness on race is a complacent assumption that the Clinton-to-Obama period resolved issues like the wealth gap or police misconduct, instead of just tabling them

On economics, meanwhile, Gen X conservatives can be tempted into uncharity toward younger Americans, interpreting their struggles and sympathies for socialism as a moral failure, as opposed to a response to a more hostile economic landscape than we faced

Zombie Reaganism, sticking with a conservative policy agenda that’s lost much of its relevance, precisely because the Reagan agenda helped make the world in which we came of age.

and the effects of the Reagan and Clinton economic growth spurts, which enabled my generation to enter adulthood under more prosperous conditions than the Great Recession-era landscape that hobbled millennials

There is an emotivism and narcissism that millennial liberalism and boomer liberalism seem to share, and in strong doses it’s poison for institutions.

The ironic communitarianism of Gen-X conservatism probably isn’t the perfect antidote, but it may be all we’ve got.

To grow up in the ’70s or ’80s was to come of age just after liberalism’s last high tide, and to see evidence of its failures all around — from the urban blight and ugliness left by utopian renewal projects to the adult disarray and childhood misery sowed by the ideology of sexual liberation in its Hefnerian phase.

Impatience with stubborn faith in past American experience is hardly a vice in this context.  Democracy is not guaranteed, and is perhaps much more fragile than we’re comfortable admitting.  The Trump presidency is prima facie evidence these concerns are justified.

Perhaps there’s way more to this story than we know, and perhaps the perceived intolerance of these situations is really the early emergence of new ideas about the scope of freedom of speech, one that balances freedom of expression with social equity and the protection of democracy.

This is where the younger generation falls short, so far:  the rationale for their discomfort isn’t well articulated.  Consider the discord in the media the first step in a process of recognizing the problem, if only at an intuitive, emotional level, and the beginnings of (hopefully) a clearly delineated, more rational process of figuring out where the new boundaries of First Amendment rights and responsibilities lie in our lovely new age of weaponized social discourse.

these statements are an apt description of much of American life since Gen Z was born. It has been witness to a financial crisis that deferred or destroyed dreams and wealth with little consequence to those who caused it; the whiplash of the Obama and Trump presidencies; political gridlock; an information ecosystem built atop viral advertising platforms that have democratized information, allowing it to be weaponized to the point of blurring reality; seemingly endless digitally documented police violence; and forever wars. They were born into a time of stark and widening inequality, a time when voter suppression is both called out but rarely acted upon.

Alienation is not a feature of Gen Z experience — it is the overarching context.

it is likely to have profound impacts on their politics and all of our lives.

What, for example, are the results of a year or two of young adulthood lost to social distancing due to a pandemic? Or of graduating into a potential economic depression behind a generation that graduated into a recession?

“ … older generations of liberals are now talking about teens and Kpop fans in the same way that Trump boomers talk about 4chan: as vigilante forces they love but don’t understand.”

Keidra Chaney, a culture writer, who notes that white K-pop fans have received the bulk of credit in the press for the fandom’s anti-racist activism, obscuring the contributions and experiences of black fans. Ms. Chaney told Ms. Ohlheiser that it “feels like a punch in the gut — that we are being used for our social currency and then discarded.”

members of the same generation are most likely also fueling far-right message board trolls, nihilist “Doomer” groups and extremist online communities with a disdain for political correctness. Their platforms of choice like TikTok still brim with unchecked extremist content and far-right conspiracy theories.

s a recent Pew Research Center survey suggests, “members of Gen Z look similar to millennials in their political preferences,” which suggests that online extremism associated with millennials is likely to evolve in this successive generation.

A 2019 Business Insider survey of over 1,800 Gen Zers revealed that a majority did not identify as either conservative or liberal, a result of either indecision or disillusion or both.

The public sector has failed to invest adequately or wisely, falling behind its peers in building infrastructure, especially the digital sort.

Penny-pinching is hard-wired into the state. In 2009, on Mrs Merkel’s watch, Germany hobbled itself with a constitutional amendment that makes it illegal to run more than a minute deficit. With interest rates so low, sensible governments ought to have been borrowing for investment, not fainting at the first spot of red ink.

Germany’s most severe domestic problem is a failure to reform its pension system. Germans are ageing fast, and the baby-boomers will place an even heavier burden on the budget later this decade as they retire

Germany has also been sluggish, and still emits more carbon per head than any other big EU country, not helped by Mrs Merkel’s shutdown of Germany’s nuclear industry after the Fukushima disaster in Japan in 2011.

The EU has not grappled sufficiently with the weakness of its indebted southern members. Only during the pandemic did it create a financial instrument that lets the EU issue jointly guaranteed debt, and dispense some of the cash as grants, rather than yet more loans.

Worse, the “stability” rules that will force countries back into austerity to shrink their stocks of debt are ready to revive, unless amended.

China is an increasingly challenging economic and strategic rival, Russia an unpredictable threat and America a distracted and uncertain ally.

Despite recent increases, it spends too little on defence. It cosies up to Beijing in the hope of better trading terms. It is giving Vladimir Putin, Russia’s president, a chokehold over European energy supplies by backing the new Nord Stream 2 gas pipeline which, as it happens, makes landfall in Mrs Merkel’s own constituency.

Comfortable, cautious Germans seem uninterested in serious debate about the future. Crisis-management has become a substitute for initiative. Candidates have no incentive to highlight their country’s looming problems.

One is a coalition headed by Mrs Merkel’s party, the Christian Democrats and their Bavarian sister-party (the CDU/CSU), led by Armin Laschet. The other is a coalition led by Olaf Scholz, of the Social Democrats (SPD), who is Germany’s finance minister. In either case, the coalition would be joined by the Greens and by the pro-business Free Democrats.

Sixteen years in power has been enough. The party has run out of ideas and drive, as its decision to choose the gaffe-prone and uninspiring Mr Laschet for chancellor makes clear. An affable lightweight, he has run a dismal campaign, and is predicted to lead his team to its worst result since the second world war. The polls say that Mr Scholz is preferred by twice as many voters.

The problem is that although he belongs to the business-friendly wing of his party, the SPD is stuffed with left-wingers.

They may try to drag him further in their direction than the Free Democrats will wear and enterprise can comfortably bear.

One of the book’s authors, Neil Howe, 71, has become a frequent podcast guest. A follow-up, “The Fourth Turning Is Here,” comes out this month.

The book’s outlook on the near future has made it appealing to macro traders and crypto enthusiasts, and it is frequently cited on the podcasts “Macro Voices,” “Wealthion” and “On the Margin.”

He described it as “this almost fun theory about history,” but added: “And yet there’s something deeply menacing about it.”

Mr. Arbery, who said he does not subscribe to the theory, sees parallels between the fourth turning and other nonscientific beliefs. “I modeled the way that Teresa talks about the fourth turning on the way that young liberals talk about astrology,” he said.

The play’s author, Will Arbery, 33, said he heard about “The Fourth Turning” while researching Stephen K. Bannon, the right-wing firebrand and former adviser to President Donald J. Trump, who is a longtime fan of the book and directed a 2010 documentary based on its ideas.

“I’ve read ‘The Fourth Turning,’ and indeed found it useful from a macroeconomic investing perspective,” Lyn Alden, 35, an investment analyst, wrote in an email. “History doesn’t repeat, but it kind of gives us a loose framework to work with.”

“The Fourth Turning” captured a mood of decline in recent American life. “I remember feeling safe in the ’90s, and then as soon as 9/11 hit, the world went topsy-turvy,” he said. “Every time my cohort got to the point where we were optimistic, another crisis happened. When I read the book, I was like, ‘That makes sense.’”

“The Fourth Turning” was conceived during a period of relative calm. In the late 1980s, Mr. Howe, a Washington, D.C., policy analyst, teamed with William Strauss, a founder of the political satire troupe the Capitol Steps.

Their first book, “Generations,” told a story of American history through generational profiles going back to the 1600s. The book was said to have influenced Bill Clinton to choose a fellow baby boomer, Al Gore, as his running mate

when the 2008 financial crisis hit at almost exactly the point when the start of the fourth turning was predicted, it seemed to many that the authors might have been onto something. Recent events — the pandemic, the storming of the Capitol — have seemingly provided more evidence for the book’s fans.

Historically, a fourth turning crisis has always translated into a civil war, a war of great nations, or both, according to the book. Either is possible over the next decade, Mr. Howe said. But he is a doomsayer with an optimistic streak: Each fourth turning, in his telling, kicks off a renaissance in civic life.

In the new book, he describes what a coming civil war or geopolitical conflict might look like — though he shies away from casting himself as a modern-day Nostradamus.

“This big tidal shift is arriving,” Mr. Howe said. “But if you’re asking me which wave is going to knock down the lighthouse, I can’t do that. I can just tell you that this is the time period. It gives you a good idea of what to watch for.”

Howe and his co-author William Strauss wrote two extremely impactful books – Generations (published in 1991) and The Fourth Turning (published in 1997).

Strauss and Howe theory considers the 4-stage cycle that repeats every 80-100 years (approximately the length of a human life, also referred to as a saeculum).

Their books suggest four turnings of history: 1. A High 2. An Awakening 3. An Unravelling 4. (Culminating in) A Crisis

What can be helpful to remember in these times is that no storm lasts forever, and this too shall pass

Additionally, one can consider four generational archetypes (a fancy word for patterns) of people born in the same era and coming of age shaped by the same historical events

The four archetypes Strauss and Howe use to describe generational cohorts are: Prophets, Nomads, Heroes, and Artists

So, for example, Millennials fall into the Hero archetype, while Gen Xers are Nomads, and Baby Boomers are Prophets. The generation born in or after 2005 are Artists.

As each archetypal generation reaches the end of its 80-year lifespan, the cycle repeats.

It is the conflation of virtue with commerce.

Where did this ideology come from? An exceptional period of low interest rates and excess liquidity provided the fertile soil for fantastical dreams to flourish.

Cryptocurrency is the most ideal vessel of these impulses. A speculative asset with a tenuous underlying predetermined value provides a blank slate that meaning can be imposed onto

Anger after the 2008 global financial crisis created a receptivity to radical economic solutions, and disappointment with traditional politics displaced social ambitions onto the world of commerce.

The hothouse of Covid’s peaks turbocharged all these impulses as we sat bored in front of screens, fueled by seemingly free money.

The unwinding of magical thinking will dominate this decade in painful but ultimately restorative ways — and that unwinding will be most painful to the generation conditioned to believe these fantasies.

Pervasive consumer-facing technology allowed individuals to believe that the latest platform company or arrogant tech entrepreneur could change everything.

illusory and ridiculous promises share a common anti-establishment sentiment fueled by a technology that most of us never understood. Who needs governments, banks, the traditional internet or homespun wisdom when we can operate above and beyond?

Mainstream financial markets came to manifest these same tendencies, as magical thinking pervaded the wider investor class. During a period of declining and zero interest rates, mistakes and mediocrities were obscured or forgiven, while speculative assets with low probabilities of far-off success inflated in value enormously.

For an extended period, many investors bought the equivalent of lottery tickets. And many won.

The real economy could not escape infection. Companies flourished by inflating their scope and ambition to feed the desire for magical thinking.

Most broadly, many corporations have come to embrace broader social missions in response to the desire of younger investors and employees to use their capital and employment as instruments for social change.

Another manifestation of magical thinking is believing that the best hope for progress on our greatest challenges — climate change, racial injustice and economic inequality — are corporations and individual investment and consumption choices, rather than political mobilization and our communities.

Every business problem, I am told, can be solved in radically new and effective ways by applying artificial intelligence to ever-increasing amounts of data with a dash of design thinking. Many graduates coming of age in this period of financial giddiness and widening corporate ambition have been taught to chase these glittery objects with their human and financial capital instead of investing in sustainable paths — a habit that will be harder to instill at later ages.

The fundamentals of business have not changed merely because of new technologies or low interest rates. The way to prosper is still by solving problems in new ways that sustainably deliver value to employees, capital providers and customers.

What comes next? Hopefully, a revitalization of that great American tradition of pragmatism will follow. Speculative assets without any economic function should be worth nothing. Existing institutions, flawed as they are, should be improved upon rather than being displaced

Corporations are valuable socially because they solve problems and generate wealth. But they should not be trusted as arbiters of progress and should be balanced by a state that mediates political questions

Trade-offs are everywhere and inescapable. Navigating these trade-offs, rather than ignoring them, is the recipe for a good life.

The third factor is the speed with which higher interest rates pass through to homeowners. The biggest risk is to borrowers on floating-rate mortgages

not all fixed-term loans are alike. In America the bulk of them are fixed for two or three decades. In other countries, even fixed-rate borrowers will face soaring mortgage costs soon enough

all the ingredients for a deep housing slump are in place. This time, though, it is likely to be led not by America, but by Canada, the Netherlands, Australia, New Zealand and Norway

First-time buyers and recent borrowers are especially vulnerable. Many stretched their finances to buy a home, leaving less spare cash to cover a jump in mortgage costs

First-time buyers have also had less time to accumulate equity. Oxford Economics estimates that a 15% drop in house prices in America over a year would cancel out two-thirds of the housing equity they have accumulated since the start of the pandemic

the housing squeeze will have profound consequences. “The housing cycle IS the business cycle”, wrote Edward Leamer of the University of California, Los Angeles, in a paper published in 2007

The link between the two cycles arises because housing confers “wealth effects” on owner occupiers. When house prices rise, people feel good about their financial situation, so borrow and spend more.

It noted that housing slowdowns had preceded eight of the past ten recessions in America

2019 research by the Bank of England found that a 10% increase in house prices raises consumption by 0.35–0.5%

Another important channel between the housing market and the rest of the economy is investment. Capital spending associated with housing, especially house building, can be extremely volatile—and is often the difference between a growing or shrinking economy.

Some people see an upside to a housing crash. They hope lower prices will allow young folk to buy their first houses. These hopes are almost certain to be dashed. In housing corrections, and sometimes for years after, home ownership rates tend to fall, rather than rise

Economic conditions that cause house prices to fall simultaneously imperil the chances of would-be homeowners. Unemployment rises and wages decline. If interest rates jump, people are able to borrow less and mortgage lenders tend to become more skittish about lending

The biggest effect of a housing downturn may be in politics

In countries where home ownership is seen as a rite of passage, lower prices without any increase in affordability will rub salt in already sore wounds. “Falling to what? Falling to absurdly grotesque prices instead of just unthinkable?”

For years more established homeowners took comfort in the thought that, even if real-wage growth was terrible, at least the price of their house was rising. Those days are over. Even baby-boomers, the great winners from a decade of price growth, now face the prospect of living off a smaller nest-egg in retirement, as downsizing becomes less lucrative

All this means rising interest rates will have unpredictable political repurcussions, as people who once benefited from the status quo discover what it feels like to lose out.

Do not be surprised, then, if policymakers launch enormous rescue operations

But the diagnoses had a lucrative side effect: They let the insurers collect more money from the federal government’s Medicare Advantage program.

Medicare Advantage, a private-sector alternative to traditional Medicare, was designed by Congress two decades ago to encourage health insurers to find innovative ways to provide better care at lower cost.

by next year, more than half of Medicare recipients will be in a private plan.

a New York Times review of dozens of fraud lawsuits, inspector general audits and investigations by watchdogs shows how major health insurers exploited the program to inflate their profits by billions of dollars.

The government pays Medicare Advantage insurers a set amount for each person who enrolls, with higher rates for sicker patients. And the insurers, among the largest and most prosperous American companies, have developed elaborate systems to make their patients appear as sick as possible, often without providing additional treatment, according to the lawsuits.

As a result, a program devised to help lower health care spending has instead become substantially more costly than the traditional government program it was meant to improve.

Eight of the 10 biggest Medicare Advantage insurers — representing more than two-thirds of the market — have submitted inflated bills, according to the federal audits. And four of the five largest players — UnitedHealth, Humana, Elevance and Kaiser — have faced federal lawsuits alleging that efforts to overdiagnose their customers crossed the line into fraud.

The government now spends nearly as much on Medicare Advantage’s 29 million beneficiaries as on the Army and Navy combined. It’s enough money that even a small increase in the average patient’s bill adds up: The additional diagnoses led to $12 billion in overpayments in 2020, according to an estimate from the group that advises Medicare on payment policies — enough to cover hearing and vision care for every American over 65.

Another estimate, from a former top government health official, suggested the overpayments in 2020 were double that, more than $25 billion.

The increased privatization has come as Medicare’s finances have been strained by the aging of baby boomers

Medicare Advantage plans can limit patients’ choice of doctors, and sometimes require jumping through more hoops before getting certain types of expensive care.

At conferences, companies pitched digital services to analyze insurers’ medical records and suggest additional codes. Such consultants were often paid on commission; the more money the analysis turned up, the more the companies kept.

they often have lower premiums or perks like dental benefits — extras that draw beneficiaries to the programs. The more the plans are overpaid by Medicare, the more generous to customers they can afford to be.

Many of the fraud lawsuits were initially brought by former employees under a federal whistle-blower law that allows them to get a percentage of any money repaid to the government if their suits prevail. But most have been joined by the Justice Department, a step the government takes only if it believes the fraud allegations have merit. Last year, the department’s civil division listed Medicare Advantage as one of its top areas of fraud recovery.

In contrast, regulators overseeing the plans at the Centers for Medicare and Medicaid Services, or C.M.S., have been less aggressive, even as the overpayments have been described in inspector general investigations, academic research, Government Accountability Office studies, MedPAC reports and numerous news articles,

Congress gave the agency the power to reduce the insurers’ rates in response to evidence of systematic overbilling, but C.M.S. has never chosen to do so. A regulation proposed in the Trump administration to force the plans to refund the government for more of the incorrect payments has not been finalized four years later. Several top officials have swapped jobs between the industry and the agency.

The popularity of Medicare Advantage plans has helped them avoid legislative reforms. The plans have become popular in urban areas, and have been increasingly embraced by Democrats as well as Republicans.

“You have a powerful insurance lobby, and their lobbyists have built strong support for this in Congress,”

Some critics say the lack of oversight has encouraged the industry to compete over who can most effectively game the system rather than who can provide the best care.

“Even when they’re playing the game legally, we are lining the pockets of very wealthy corporations that are not improving patient care,”

In theory, if the insurers could do better than traditional Medicare — by better managing patients’ care, or otherwise improving their health — their patients would cost less and the insurers would make more money.

But some insurers engaged in strategies — like locating their enrollment offices upstairs, or offering gym memberships — to entice only the healthiest seniors, who would require less care, to join. To deter such tactics, Congress decided to pay more for sicker patients.

Almost immediately, companies saw ways to exploit that system. The traditional Medicare program provided no financial incentive to doctors to document every diagnosis, so many records were incomplete

Under the new program, insurers began rigorously documenting all of a patient’s health conditions — say depression, or a long-ago stroke — even when they had nothing to do with the patient’s current medical care.

But for insurers that already dominate health care for workers, the program is strikingly lucrative: A study from the Kaiser Family Foundation, a research group unaffiliated with the insurer Kaiser, found the companies typically earn twice as much gross profit from their Medicare Advantage plans as from other types of insurance.

The insurers also began hiring agencies that sent doctors or nurses to patients’ homes, where they could diagnose them with more diseases.

Cigna hired firms to perform similar at-home assessments that generated billions in extra payments, according to a 2017 whistle-blower lawsuit, which was recently joined by the Justice Department. The firms told nurses to document new diagnoses without adjusting medications, treating patients or sending them to a specialist

Nurses were told to especially look for patients with a history of diabetes because it was not “curable,” even if the patient now had normal lab findings or had undergone surgery to treat the condition.

Adding the code for a single diagnosis could yield a substantial payoff. In a 2020 lawsuit, the government said Anthem instructed programmers to scour patient charts for “revenue-generating” codes. One patient was diagnosed with bipolar disorder, although no other doctor reported the condition, and Anthem received an additional $2,693.27, the lawsuit said. Another patient was said to have been coded for “active lung cancer,” despite no evidence of the disease in other records; Anthem was paid an additional $7,080.74. The case is continuing.

The most common allegation against the companies was that they did not correct potentially invalid diagnoses after becoming aware of them. At Anthem, for example, the Justice Department said “thousands” of inaccurate diagnoses were not deleted. According to the lawsuit, a finance executive calculated that eliminating the inaccurate diagnoses would reduce the company’s 2017 earnings from reviewing medical charts by $86 million, or 72 percent.

Some of the companies took steps to ensure the extra diagnoses didn’t lead to expensive care. In an October 2021 lawsuit, the Justice Department estimated that Kaiser earned $1 billion between 2009 and 2018 from additional diagnoses, including roughly 100,000 findings of aortic atherosclerosis, or hardening of the arteries. But the plan stopped automatically enrolling those patients in a heart attack prevention program because doctors would be forced to follow up on too many people, the lawsuit said.

Kaiser, which both runs a health plan and provides medical care, is often seen as a model system. But its control over providers gave it additional leverage to demand additional diagnoses from the doctors themselves, according to the lawsuit.

At meetings with supervisors, he was instructed to find additional conditions worth tens of millions of dollars. “It was an actual agenda item and how could we get this,” Dr. Taylor said.

Last year, the inspector general’s office noted that one company “stood out” for collecting 40 percent of all Medicare Advantage’s payments from chart reviews and home assessments despite serving only 22 percent of the program’s beneficiaries. It recommended Medicare pay extra attention to the company, which it did not name, but the enrollment figure matched UnitedHealth’s.

Even before the first lawsuits were filed, regulators and government watchdogs could see the number of profitable diagnoses escalating. But Medicare has done little to tamp down overcharging.

Several experts, including Medicare’s advisory commission, have recommended reducing all the plans’ payments.

Congress has ordered several rounds of cuts and gave C.M.S. the power to make additional reductions if the plans continued to overbill. The agency has not exercised that power.

The agency does periodically audit insurers by looking at a few hundred of their customers’ cases. But insurers are fined for billing mistakes found only in those specific patients. A rule proposed during the Trump administration to extrapolate the fines to the rest of the plan’s customers has not been finalized.

Ted Doolittle, who served as a senior official for the agency’s Center for Program Integrity from 2011 to 2014, said officials at Medicare seemed uninterested in confronting the industry over these practices. “It was clear that there was some resistance coming from inside” the agency, he said. “There was foot dragging.”

few analysts expect major legislative or regulatory changes to the program.

“Medicare Advantage overpayments are a political third rail,” said Dr. Richard Gilfillan, a former hospital and insurance executive and a former top regulator at Medicare, in an email. “The big health care plans know it’s wrong, and they know how to fix it, but they’re making too much money to stop. Their C.E.O.s should come to the table with Medicare as they did for the Affordable Care Act, end the coding frenzy, and let providers focus on better care, not more dollars for plans.”

some neighborhoods produce more successful kids: One in every 864 Baby Boomers born in Washtenaw, Michigan, the county that includes the University of Michigan, did something notable enough to warrant an entry in Wikipedia, while just one in 31,167 kids born in Harlan County, Kentucky, achieved that distinction

The results showed that some large metropolitan areas give kids an edge. They get a better education. They earn more money: The best cities can increase a child’s future income by about 12 percent. They found that the five best metropolitan areas are: Seattle; Minneapolis; Salt Lake City; Reading, Pennsylvania; and Madison, Wisconsin.

a website, The Opportunity Atlas, that allows anyone to find out how beneficial any neighborhood is expected to be for kids of different income levels, genders, and races.

We find that one factor about a home—its location—accounts for a significant fraction of the total effect of that home.

I have estimated that some 25 percent—and possibly more—of the overall effects of a parent are driven by where that parent raises their child. In other words, this one parenting decision has much more impact than many thousands of others.

Three of the biggest predictors that a neighborhood will increase a child’s success are the percent of households in which there are two parents, the percent of residents who are college graduates, and the percent of residents who return their census forms.

These are neighborhoods, in other words, with many role models: adults who are smart, accomplished, engaged in their community, and committed to stable family lives.

Data can be liberating. It can’t make decisions for us, but it can tell us which decisions really matter. When it comes to parenting, the data tells us, moms and dads should put more thought into the neighbors they surround their children with—and lighten up about everything else.

Others point to driving’s high cost. Car insurance has skyrocketed in price in recent years, increasing nearly 14 percent between 2022 and 2023. (The average American now spends around 3 percent of their yearly income on car insurance.) Used and new car prices have also soared in the last few years, thanks to a combination of supply chain disruptions and high inflation.

E-scooters, e-bikes and ride-sharing also provide Gen Zers options that weren’t available to earlier generations. (Half of ride-sharing users are between the ages of 18 and 29, according to a poll from 2019.) And Gen Zers have the ability to do things online — hang out with friends, take classes, play games — which used to be available only in person.

Whether this shift will last depends on whether Gen Z is acting out of inherent preferences, or simply postponing key life milestones that often spur car purchases. Getting married, having children, or moving out of urban centers are all changes that encourage (or, depending on your view of the U.S. public transit system, force) people to drive more.

In 1997, 43 percent of 16-year-olds and 62 percent of 17-year-olds had driver’s licenses. In 2020, those numbers had fallen to 25 percent and 45 percent.

Millennials went through a similar phase. Around a decade ago, many newspaper articles and research papers noted that the millennial generation — often defined as those born between 1981 and 1996 — were shunning cars. The trend was so pronounced that some researchers dubbed millennials the “go-nowhere” generation.

The average number of vehicle miles driven by young people dropped 24 percent between 2001 and 2009, according to a report from the Frontier Group and the U.S. Public Interest Research Group. And at the same time, vehicle miles traveled per person in the United States — which had been climbing for more than 50 years — began to plateau.

adult millennials continue to drive around 8 percent less every day than members of Generation X and baby boomers. As millennials have grown up, got married and had kids, the distance they travel in cars has increased — but they haven’t fully closed the gap with previous generations.

data has shown that U.S. car culture isn’t as strong as it once was. “Up through the baby boom generation, every generation drove more than the last,” Dutzik said. Forecasters expected that trend to continue, with driving continuing to skyrocket well into the 2030s. “But what we saw with millennials, I think very clearly, is that trend stopped,”

If Gen Zers continue to eschew driving, it could have significant effects on the country’s carbon emissions. Transportation is the largest source of CO2 emissions in the United States. There are roughly 66 million members of Gen Z living in the United States. If each one drove just 10 percent less than the national average — that is, driving 972 miles less every year — that would save 25.6 million metric tons of carbon dioxide from spewing into the atmosphere. That’s the equivalent to the annual emissions of more than six coal-fired power plants.

to try to maintain the fantasy of a continuous England that could absorb within it wildly different cultures. What she relied upon was the West. The Englishmen who caused so much devastation around the world did not bring any miracles with them; they brought only bloodshed and cruelty and plunder, the same forces that had ruled the world since the beginning.

But by the time of Elizabeth’s reign, England understood itself as a Western nation, identifiable by its commitment to individual rights, equality, and self-determination. These values created the free world, and to the very limited extent that a Queen can stand for them—the Queen of a country with such a terrible imperial history—she was determined to do so.

she often acknowledged how Britain was changing, never once disparaged it, and found within it a plausible case for continuity. What she did was locate—or possibly create—a unifying culture of Englishness as defined by the values of the Blitz: courage, calm, resolve.

Elizabeth spoke of Englishness and its enduring character, not of racial composition or traditional custom. She—of all people—said England’s greatness wasn’t in its past. It lies in its present and its future.

now this whole delicate operation of creating a Britain in which the old and the new don’t merely coexist, or inform each other, but are together part of a cohesive narrative of greatness, in which the monarch is both the defender of the Church of England and the symbolic leader of a country with 3 million Muslims—all of this has fallen to … Charles?

Weak, selfish, petulant Charles?

This is not an era of reconciliation and bygones being bygones. This is an era of reparations. A lot of people around the world don’t want to “celebrate diversity,” a concept wholly born of the dying West. They want their treasures back, and they know where to find them.

Most of them were stolen, and in the most sadistic way possible. Will Charles—Boomer Zero—be able to keep hold not merely of the things but of the idea of England that his mother helped create?Doubtful.

guided by a fascination with the wayward paths to fame, he half-unwittingly sows doubt about the justice of the American rise to artistic leadership in the postwar era. In his erudite account, artistic success owes little to vision and purpose, more to self-promotion, but most to unanticipated adoption by bigger systems with other aims, principally oriented toward money, political advantage, or commercial churn

For the greatness and inevitability of artistic consecration, Menand substitutes the arbitrary confluences of forces at any given moment.

The curriculum runs chapter by chapter through George Kennan, George Orwell, Jean-Paul Sartre, Hannah Arendt, Jackson Pollock, Lionel Trilling, Allen Ginsberg, Claude Lévi-Strauss, Robert Rauschenberg and John Cage, Elvis and the Beatles, Isaiah Berlin, James Baldwin, Jack Kerouac, Andy Warhol, Susan Sontag, and Pauline Kael. Each biography opens a door to a school or trend of work

Menand’s is not a “great man” view of history, because no one seems particularly great. One gets a feeling for Sartre as a person, a limited knowledge of how Sartre made Being and Nothingness, and a vivid sense of how the book made Sartre a celebrity. Then one learns how a troupe of others came along and rode his success like a sled.

Menand zooms in and out between individual egomaniacs and the milieus that facilitated their ascent and profited from their publicity.

group biographies, in miniature, of the existentialists, the Beats, the action painters, the Black Mountain School, the British Invasion, the pop artists, and many coteries more—are enchanting singly but demoralizing as they pile up

All of these enterprises look like hives of social insects, not selfless quests for truth or beauty. Menand is a world-class entomologist: He can name every indistinguishable drone, knows who had an oversize mandible, who lost a leg, who carried the best crumbs.

From this vantage, the monuments really are just anthills.

Menand is truly one of the great explainers. He quotes approvingly a lesson taken by Lionel Trilling from his editor Elliot Cohen: “No idea was so difficult and complex but that it could be expressed in a way that would make it understood by anyone to whom it might conceivably be of interest.”

The underlying theory of the book rests on a picture of what makes for “cultural winners,” works and ideas that Menand defines as

He is accurate, he is insightful, and he is not a dumber-downer

Menand’s account of each is an abbreviated tour de force. His explanations work at all levels: interpretation for scholars, review for general readers, introductions for neophytes. Where another writer would take 20 pages to tell us why someone or something mattered historically, Menand does it in two.

goods or styles that maintain market share through “generational” taste shifts—that is, through all the “the king is dead; long live the king” moments that mark the phases of cultural history for people living through it.

Menand’s recountings are less concerned with the changing meanings of individual works than with their successive adoptions and co-optations, in defiance of depth and meaning. It is a process of “winning” often based on cults of personality, indifference to complex origins, and the fortune or misfortune of timing

Menand is notably excellent on how commercial, regulatory, and technological changes determined which kinds of artwork made it to the public. His analysis helps demystify trends in commercial forms like film and pop music, especially when they otherwise seemed to run against the grain of pure profit

Often Menand’s point seems to be that the culture’s reigning talkers and salespeople and debaters need to conjure figures to venerate and attack (in ceaseless alternation) for short-range purposes of attention and competition. Any given work—1984, say, or Bonnie and Clyde—isn’t much of anything until it becomes a counter in other people’s games.

The central question of this period in culture might be whether U.S. artists lived up to expectations

In 1945, Europe was in ruins. America was rich and productive and dictated the terms of the postwar economic and political order. Certainly the U.S. had the power to pretend to cultural glory, too. But was it a pretense, or did Americans really continue and exceed the prewar triumphs of European modernism?

Most histories of the arts after 1945 assume that the greatest American successes deserved their fame.

The thrust of many of Menand’s retellings is that “in the business of cultural exchange, misprision is often the key to transmission.” Fame comes through misreadings, fantasies, unintended resonances, charisma, and publicity.

Menand’s book bequeaths the sense that the last laugh may truly have been on the self-seriousness of a whole historical period, one that treated its most publicized and successful arts figures far too generously, giving them too much credit for depth and vision, while missing the cynical forces by which they’d been buoyed up and marketed

“Foreign film” in America in the ’50s and ’60s—when independent art cinemas emerged, showing imports such as work by Ingmar Bergman and the French New Wave—proves to have been energized by a successful federal-government antitrust action against the monopolistic Hollywood studios

The idea of a “culture industry”

is used unironically by Menand to name the vastly scaled-up production and consumption of all artistic experience. “The culture industries, as they expanded, absorbed and commercialized independent and offbeat culture-makers, and the university, as it expanded, swallowed up the worlds of creative writing and dissident political opinion.”

With his eye on this process, we miss out on artists and thinkers who dug deep and stayed home, who produced as hermits or eccentrics or introverted students of their art

Where did rock ’n’ roll come from?” Menand wonders. He answers that it was “the by-product of a number of unrelated developments in the American music business” that redirected sales to teenagers, and also the result of new radio-station competition, the partial racial desegregation of the music charts, and the arrival of 200-disc jukeboxes

I can imagine The Free World leaving my hypothetical college senior, denizen of the bleak attention economy of the 21st century, feeling liberated to discover that culture was no better—no more committed to a quest for what is true, noble, lasting, and beautiful—in the world of the Baby Boomers and beaming grandparents.

The book is so masterful, and exhibits such brilliant writing and exhaustive research, that I wonder whether Menand could truly have intended where his history of the postwar era landed me. I learned so much, and ended up caring so much les