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Three years later, after ratification of the 19th Amendment, universal suffrage was a reality.

when they analyzed the 2012 PISA, an academic test of 15-year-olds around the world, along with reports from the teenagers and their parents about how they interact, they found that an “intensive parenting style” correlated with higher scores on the test. This was true even among teenagers whose parents had similar levels of education.

for the most part, the new parenting efforts seemed effective

In the 1980s, however, inequality increased sharply in Western countries, especially the United States, and the gap between white- and blue-collar pay widened. Permissive parenting was replaced by helicopter parenting

If you do it as an “authoritarian” parent — defined as someone who issues directives, expects children to obey and sometimes hits those who don’t — you won’t get the full benefits.

The most effective parents, according to the authors, are “authoritative.” They use reasoning to persuade kids to do things that are good for them. Instead of strict obedience, they emphasize adaptability, problem-solving and independence — skills that will help their offspring in future workplaces that we can’t even imagine yet.

Using data from a national study that followed thousands of American teenagers for years, the authors found that the offspring of “authoritative” parents were more likely to graduate from college and graduate school, especially compared with those with authoritarian parents.

So why wouldn’t everyone just become an authoritative parent? Religious people, regardless of their income, are more likely to be authoritarian parents who expect obedience and believe in corporal punishment

Working-class and poor parents might not have the leisure time to hover or the budget to pay for activities and expensive schools.

Huffman’s “Housewives” character spent one episode trying to bribe her twins’ way into a private school, BuzzFeed points out (for $15,000 — is that how Huffman knew it was the going rate?), and so, the story goes, of course Huffman would do the same in real life.

The most vomitous line in the whole indictment comes from a dad — New York attorney Gordon Caplan — who tells a witness on the phone, “To be honest, I’m not worried about the moral issue.”

Radar ran an anonymously sourced article in which a family friend says Macy “didn’t know the details, but he knew she was trying to do something. . . He wasn’t fully aware of what she was planning.” Truly, I’m not sure which is a worse scenario for Macy: that he blithely participated in an alleged illegal plot, or that he blithely participated in an entire phone call in which the alleged illegal plot was hatched and apparently didn’t know what anyone, including himself, was talking about.

in terms of moral dissonance, Felicity Huffman is the most surprising villain, and the one whose motives I keep trying to unpack.

Huffman created the website What the Flicka, dedicated to parenting. Specifically, to being a mom. Even more specifically, to being a real, relatable, imperfect mom.

WhatTheFlicka.com is a land of sardonic coffee mugs and wine-o’clock-Wednesdays, and scented candles with names such as “Juice Cleanse” that purport to smell like “greens, mint, and regret.” The articles about parenting have headlines such as “10 ways I’m totally screwing up my kids” and “10 reasons to dread summer with kids” and “9 ways parenthood is like ‘Game of Thrones.’ ”

In other words, the site buys into a children-are-a-battlefield theory of parenting. Parenthood is impossible, and making it to bedtime without becoming an alcoholic is an excellent reason to reward yourself with a martini. We are all a hot mess!

In Felicity’s mind, did she do something at odds with her theory of motherhood, or was the alleged scamming an extension of it? Was allegedly buying her kids’ way into school a twisted, privileged version of, Ladies, amiright, sometimes we serve frosting for dinner and sometimes we bribe Georgetown?

“Ruh Ro!” she chirpily wrote in an email to her contact in the scam. “Looks like [my daughter’s high school] wants to provide own proctor.” It was a problem to be solved, practically and without much fuss.

somehow we’ve reached a point where any behavior short of violent predation – let’s call it the “not as bad as Weinstein” standard – is characterized as misunderstood seduction.

There’s a reason so many people are conflating bad and sometimes criminal behavior with romance: traditional ideas about seduction rely on tropes of women witholding sex and men working hard to get it. It’s a narrow notion of heterosexuality – one that does a good job excusing abusive behavior.

When will we have more concern for the women hurt by abuse than the men accused of it? One of Roy Moore’s accusers had her house burnt to the ground – arson is suspected. Harper’s magazine was on the brink of publishing the name of a woman who created the Shitty Media Men list before a feminist Twitter campaign stopped it. Some women won’t see justice for years, some ever. This moment isn’t about romance, it’s about abuse. Perhaps the fact that so many people can’t tell the difference is part of the problem.

It sometimes seems as if half of America’s children grow up in strained families and suffer Adverse Childhood Experiences that make it hard for them to feel safe. The other half grow up in overprotective families and emerge into adulthood unready to face the risks that will inevitably come.

Everybody feels besieged — power is somehow elsewhere, with the malevolent forces who are somewhere out there, who will stop at nothing.

Fear runs ahead of the facts and inflames the imagination

Fear makes everything amorphous

for those in the grip of fear, immigration — or globalization, Silicon Valley, Wall Street or automation — are shapeless, insidious forces that are out of control. The inevitable reaction is overreaction

“Fear, indeed, is intensely narcissistic,” she continues. “It drives out all thoughts of others.”

The irrationalities of disgust, Nussbaum continues, underlie many social evils

Fear induces herding behavior.

Fear revives ideology.

All trade in binaries between oppressor and oppressed, the struggle between the good groups and the menacing evil ones.

I’m coming to think governance might be cure. The simple act of trying to solve practical problems.

the administration is gradually making the program a little more restrictive overall. (This appears to have had little impact thus far on the number of people who have applied for H-1Bs—as Bloomberg Law noted, more than 201,000 people put in for the 85,000 visas issued this year, a 6 percent increase over the previous year’s figures.)

in the Immigration Act of 1990. That original legislation did two things: It expanded legal immigration by increasing the number of green cards awarded each year, and it updated a 1950s-era program for temporary workers of “distinguished merit and ability” by capping the number who could obtain the visa at 65,000. (The cap has varied over the years.) This new program, the H-1B, was designed for skilled, temporary workers in certain occupations.

what came next: the global tech boom and the birth of the outsourcing industry. Suddenly, what had begun as a temporary solution to address a labor shortage became a device through which hundreds of thousands of IT professionals from around the world, especially India, came to the United States. The program became a de facto path to permanent residence and, ultimately, American citizenship.

Ron Hira, an associate professor of public policy at Howard University in Washington, D.C., who studies the impact of the visa, says the H-1B prioritizes outsourcers, sets wages too low, and doesn’t address the problem it was created to solve—filling labor-market gaps.“The program has been flawed from the inception,” he told me. “My primary complaint is that it’s used for cheap indentured workers.”

cation process is expensive, costing upwards of $2,400 (not counting lawyer’s fees), and has become cumbersome, they argue, so no American company would voluntarily seek to hire a foreign worker when simply hiring an American one is far easier.

Previous administrations tried to walk the line between these competing interests, but the Trump administration, through its actions, is making the H-1B far more difficult to get—especially for Indian software companies, whose visa applications were rejected in record numbers last year.

all of the changes so far to the existing system have introduced an atmosphere of uncertainty for people like Mahoney-Steel. Johns Hopkins decided not to seek to renew her visa. She told me that her supervisors were trying to rewrite her job description, but that the position she occupied was deemed by her employers too generic to be a specialized skill.

Every summer we watch dozens of villains plotting to blow up the entire universe, but the motivations are always hazy. Why, exactly, does the baddie want to destroy everything again? Now we know.

It’s not just Elon Musk, who stated that ‘there’s a one in a billion chance we’re living in base reality,’ who believes this—in an extraordinary piece of hedge-betting, the Bank of America has judiciously announced that the probability that waking life is just an illusion is, oh, about fifty-fifty

Tech products no longer feel like something offered to the public, but something imposed: The great visionary looks at the way everyone is doing something, and decides, single-handedly, to change it.

once social reality is the exclusive property of a few geegaw-tinkerers, why shouldn’t physical reality be next? With Google’s Calico seeking hedge-fund investment for human immortality and the Transformative Technology Lab hoping to externalize human consciousness, the tech industry is moving into territory once cordoned off for the occult. Why shouldn’t the fate of the entire cosmos be in the hands of programmers hiding from the California sun, to keep or destroy as they wish?

Unsurprisingly, nobody bothered to ask us whether we want the end of the world or not; they’re just setting about trying to do it. Silicon Valley works by solving problems that hadn’t heretofore existed; its culture is pathologically fixated on the notion of ‘disruption.’

Its real antecedents are the Gnostics, an early Christian sect who believed that the physical universe was the creation of the demiurge, Samael or Ialdaboath, sometimes figured as a snake with the head of a lion, a blind and stupid god who creates his false world in imperfect imitation of the real Creator. This world is a distorted mirror, an image; in other words, a kind of software.

Kabbalist mysticists, Descartes with his deceiving demon, and Zhuangzi in his butterfly dream have all questioned the reality of their sense-experiences, but this isn’t a private, solipsistic hallucination; in the simulation hypothesis, reality is a prison for all of us

there’s always been the lingering suspicion that our reality is somehow unreal—it’s just that what we once thought about in terms of dreams and magic, cosmic minds or whispering devils, is now expressed through boring old computers, that piece of clunky hardware that waits predatory on your desk every morning to code the finest details of your life.

The Gnostics were often accused by other early Christians of Satanism, and they might have had a point: Many identified the jealous, petty, prurient God of the Old Testament with the Demiurge, while sects such as the Ophites revered the serpent in the Garden of Eden as the first to offer knowledge to humanity, freeing them from their first cage

In his book, Baudrillard also talks about virtual realities and deceptive images, but his point isn’t that they have clouded our perception of the reality beyond. The present system of social images is so vast and all-encompassing that it’s produced a total reality for itself; it only lies when it has us thinking that there’s something else behind the façade. Baudrillard, always something of an overgrown child, loved to refer to Disneyland: As he pointed out, it’s in no way a fake—when you leave its gates, you return to an America that’s just one giant Disneyland, a copy without an original, from coast to coast

‘The simulacrum is never that which conceals the truth—it is the truth which conceals that there is none.

Digital and cinematic media actively construct our experience of reality. The world of film stars and theme parks, social media and supermarket shelves designed to look like something out of an old-time grocery—this is the one we live in. Our Silicon Valley Satanists have made a very questionable assumption: What if there’s nowhere to break out into?

the virtual is also real. Why is a universe composed of software necessarily any less real than one composed of matter? Computer simulation is of course only a metaphor, a new-ish way of describing what was once expressed in oneiric or theological terms. They can’t really mean that our universe was built in something similar to the machine you’re using to read these words right now;

simulation is a process independent of whatever divine or technological apparatus is used to achieve it. The real argument is that, by some unknown mechanism, what we see is only a function of what really exists. But we’ve known since Kant that our sense-perception can never give us a full account of the material world; all this can be said of any conceivable reality

Outside the simulation hypothesis there are scientists who propose that our universe is a single black hole, with what we perceive as matter being a hologram emerging from a two-dimensional ring of information along its event horizon; there are mathematical Platonists who, following Max Tegmark, consider the world to be a set of abstract mathematical objects, of which physical objects are a crude epiphenomenon. If matter doesn’t ‘really’ exist, there’s no need for anything to be rooted anywhere; we might live suspended in a looping chain of simulations and appearances that coils back on itself and never has to touch the ground

Elon Musk and his co-religionists aren’t actually blinded by artifice; they’re fixated on a strange and outdated notion that somewhere, there has to be a concrete reality—they’ve just decided that it’s not this one

What’s far more worrying is the fact that the people who want to destroy the only world we really have are also the people increasingly in charge of it.

For the improvement of our politico-military position our first objective, in the event of our being embroiled in war, must be to overthrow Czechoslovakia and Austria simultaneously in order to remove the threat to our flank in any possible operation against the West.

Case 1: Period 1943-1945. After this date only a change for the worse, from our point of view, could be expected.

Our relative strength would decrease in relation to the rearmament which would by then have been carried out by the rest of the world. If we did not act by 1943-45' any year could, in consequence of a lack of reserves, produce the food crisis, to cope with which the necessary foreign exchange was not available, and this must be regarded as a "waning point of the regime." Besides, the world was expecting our attack and was increasing its counter-measures from year to year. It was while the rest of the world was still preparing its defenses [sich abriegele] that we were obliged to take the offensive.

The necessity for action before 1943-45 would arise in cases 2 and 3.

Case 2: If internal strife in France should develop into such a domestic crisis as to absorb the French Army completely and render it incapable of use for war against Germany, then the time for action against the Czechs had come.

If one accepts as the basis of the following exposition the resort to force with its attendant risks, then there remain still to be answered the questions "when" and "how." In this matter there were three cases [Falle] to be dealt with:

Actually, the Fuehrer believed that almost certainly Britain, and probably France as well, had already tacitly written off the Czechs and were reconciled to the fact that this question could be cleared up in due course by Germany. Difficulties connected with the Empire, and the prospect of being once more entangled in a protracted European war, were decisive considerations for Britain against participation in a war against Germany. Britain's attitude would certainly not be without influence on that of France. An attack by France without British support, and with the prospect of the offensive being brought to a standstill on our western fortifications, was hardly probable.

The incorporation of these two States with Germany meant, from the politico-military point of view, a substantial advantage because it would mean shorter and better frontiers, the freeing of forces for other purposes, and the possibility of creating new units up to a level of about 12 divisions, that is, 1 new division per million inhabitants.

Italy was not expected to object to the elimination of the Czechs, but it was impossible at the moment to estimate what her attitude on the Austrian question would be; that depended essentially upon whether the Duce were still alive

The degree of surprise and the swiftness of our action were decisive factors for Poland's attitude. Poland -with Russia at her rear will have little inclination to engage in war against a victorious Germany.

In the light of past experience, the Fuehrer did not see any early end to the hostilities in Spain

from the German point of view; rather were we interested in a continuance of the war and in the keeping up of the tension in the Mediterranean.

As our interest lay more in the prolongation of the war in Spain, it must be the immediate aim of our policy to strengthen Italy's rear with a view to her remaining in the Balearics.

If Germany made use of this war to settle the Czech and Austrian questions, it was to be assumed that Britain -herself at war with Italy- would decide not to act against Germany. Without British support, a warlike action by France against Germany was not to be expected.

This stroll down memory lane suggests this rule: All news is economic news, because everything affects the economy, or reveals attitudes or behaviors that soon will affect it. And all economic news is bad — especially good economic news, because it gives rise to bad behavior.

In December, America’s household savings rate was the lowest (2.4 percent of disposable income) since the negative savings rates in 2005 and 2006, before the housing bubble burst.

As of 2013, 45 percent of working-age households had no retirement savings.

A 2015 Federal Reserve study revealed that half of those surveyed said they could not gather $400 to cope with an emergency; one-third said they could not sell assets, tap retirement savings or turn to family and friends to pay three months of expenses.

By 2017, median household savings ($14,500) for those near retirement age had declined 32 percent in a decade, and for the first time, older Americans had more credit card debt than younger Americans.

Between 2003 and 2015, the indebtedness of those between ages 50 and 80 increased 60 percent. Today, those between 65 and 74 have five times more debt than that age cohort did two decades ago.

Do you wonder how such behavior became to seem normal? A partial answer might be:

Americans consider deferral of gratification unnatural, which it is. Time was, however, thrift was considered a virtue. People sat at kitchen tables, calculating how to bring their outlays, for living and retiring, into alignment with their incomes.

But eventually many people decided: This is no fun. Instead, let’s disconnect enjoyable spending decisions from tiresome facts about resources, thereby living the way the federal government does.

Although many of the world’s other leaders have expressed their disappointment with Trump’s decision, they have also underscored their commitment to solving the problem of global warming, with or without American participation

To date there are only two other countries that have not yet signed on to the Paris Agreement: Syria and Nicaragua. Syria, which remains in the throes of a destructive civil war, noted that it was not in a position to sign such agreements because of ongoing sanctions from Western countries. The government of Nicaragua, however, refused to sign on for different reasons. Nicaragua believes that the Paris Agreement does not go far enough to reduce emissions, arguing that wealthy countries such as the United States should have been forced to make deeper commitments.

Once it was clear to Charles that British terms were nonnegotiable, then the Bourbon Family Compact of 1761, a mutual-defense treaty with France, was a piece of realpolitik, signed by the “Anglophile” Ricardo Wall.

The consequence of such an alliance was involvement in the Seven Years’ War—too late to save France.

The Treaty of Paris (1763) concluded the Seven Years’ War and destroyed France as an American power.

The Family Compact was therefore an immediate military failure, and it was only the revolt of the North American colonies against Britain that enabled Spain to recover the ground it had lost; the successful alliance with France to aid the colonists resulted in the Treaty of Versailles (1783), which gave back Sacramento, the two Floridas, and Minorca.

In 1788 Charles III, who had been the “nerve” of reform in the sense that he loyally supported able ministers, was succeeded by his son, Charles IV, a weak, amiable man dominated by a lascivious wife, María Luisa.

The volume of Spanish goods in the American trade increased 10-fold in 10 years, prompting British concern at the Spanish revival.

The problems of imperial defense were thus temporarily solved by British weakness after 1765. The positive side of Charles III’s imperial policy was an attempt to create an efficiently administered colonial empire that would provide the crown with increased revenues and with a closed market for the exports of an expanding Spanish economy, a program known as the “Bourbon Reforms.”

The main attack of the regalists fell on the Jesuit order.

The question arises of the extent to which the policies of Charles III resulted from the acceptance by his servants of the precepts of the Enlightenment.

When the French Revolution exposed the dangers of progressive thought, the traditionalist cause was immensely strengthened, and the Inquisition appeared to the crown itself to be a useful instrument to control the spread of dangerous ideas

the French revolutionary and Napoleonic wars put unbearable pressures on a weak power. Reform was now dangerous. Neutrality was impossible; alliance with either France or the anti-revolutionary coalitions engineered by Britain proved equally disastrous

Spain had no alternative but to declare war on France after the execution of Louis XVI in 1793. The war was popular but disastrous; in 1794 the French armies invaded Spain, taking Bilbao, San Sebastián (Donostia–San Sebastián), and Figueres (Figueras).

Napoleon had lost all faith in Godoy and Spain as an ally; the “dirty intrigues” of Ferdinand, prince of Asturias and heir to the throne, against his father and Godoy led Napoleon to consider drastic intervention in Spanish affairs

compelled the abdication of Charles IV and the dismissal of Godoy. Napoleon summoned both the old king and Ferdinand VII to Bayonne, where both were compelled to abdicate. The Spanish throne was then offered to Joseph Bonaparte, Napoleon’s brother.

That means that if the UK leaves all the EU's economic structures there is currently no example anywhere around Europe, or further afield, that can keep the Irish border after Brexit as open as it is now.

The collapse of traditional social democratic parties has opened acres of space on the center left. A generation of younger voters is casting about for new allegiances, and others, for an antidote to the nationalist, populist far right.

With migration receding in the news, climate change has become a potent new front in the battle between green-minded liberals and populists.

they have become enemy No. 1 for far-right populists and others who cast their policies as part of an elitist agenda that hurts ordinary people

In Germany, where the Greens surged to over 20 percent in the recent European Parliament elections, their campaign posters explicitly attacked the far right: “Hatred is no alternative for Germany.”

Britain’s Greens won a striking 12 percent of the vote, finishing fourth ahead of the governing Conservatives, not only by promoting the environment — but also by opposing Brexit.

To those who could least afford it, the tax was seen as a way for them to offset the environmental damage caused primarily by big businesses and the jet-setting urban elites, who increasingly vote Green but whose lifestyles have the biggest carbon footprint

“The Green idea has been European from the outset, because you can’t solve environmental problems within national borders,

In southern Europe, with swelling debt and high youth unemployment, Green parties remain marginal

the Alternative for Germany, commonly known as AfD, accuses Ms. Baerbock’s party of being elitist — and hypocritical

“They buy themselves a good conscience, because they are the ones who hurt the environment most, they are the ones with the air miles.”

“But ordinary people are being told that they are responsible for the impending climate apocalypse because they drive a car,” Mr. Hilse said.

They were not only the most popular among all voters under the age of 60 but for the first time among unemployed voters, too.

in the European Parliament, the Greens will have roughly the same influence in the 751-seat assembly as the far-right populists led by Italy’s interior minister, Matteo Salvin

Germany’s Greens recently learned from a study of voter concerns in Europe that the second-most-popular statement among far-right voters, after one on limiting migration, was this: “We need to act on climate change because it’s hitting the poorest first and it’s caused by the rich.”

“Environmental policies are punitive when they are poorly implemented,’

“But if we reallocate this money to help people better insulate their homes and reduce their energy bills, everything is fine,

That is what Germany’s labor unions are preaching, too.

“If you want to achieve an ecological society, you have to take working people with you. That new society,” he said, “has to be fair.”

Workers are facing the prospect of job losses and transformation on two fronts: automation and climate policy

The initial report presents a flexible daily diet for all food groups based on the best health science, which also limits the impact of food production on the planet

The Eat-Lancet report posits that the global food system is broken. From the numbers quoted alone, it is hard to disagree: more than 2 billion people are micronutrient deficient, and almost 1 billion go hungry, while 2.1 billion adults are overweight or obese

Unhealthy diets are, it says, “the largest global burden of disease”, and pose a greater risk to morbidity and mortality than “unsafe sex, alcohol, drug, and tobacco use combined”

we are not (yet) extinct, but we have an era named after us. And what we are eating has a lot to do with that. Food production, the report states, “is the largest source of environmental degradation”.

It has identified a daily win-win diet – good for health, good for the environment – that is loosely based on the much-lauded Mediterranean diet, but with fewer eggs, less meat and fish, and next to no sugar.

it does include a range of foodstuff types that are adaptable, in theory, to the cuisines (potato or cassava; palm-oil-based, say, or soy-rich) and primary dietary restrictions (omnivore, no pork, pescatarian, vegetarian, vegan) found across the world

the daily ration of red meat stands at 7g (with an allowable range of 0-14g); unless you are creative enough to make a small steak feed two football sides and their subs, you will only be eating one once a month.

you are allocated little more than two chicken breast fillets and three eggs every fortnight and two tins of tuna or 1.5 salmon fillets a week

Per day, you get 250g of full-fat milk products (milk, butter, yoghurt, cheese): the average splash of milk in not very milky tea is 30g

The diet functions on the basis of 2,500 kcal daily,

It is still more food – way, way more – than two billion people currently have access to.

The future served up on a plate Monday

Breakfast: Porridge (made with water) with 1 tbsp honey or maple syrup, topped with nuts and seeds, and one piece of fruit; one cup of tea or coffee with milk

Lunch: Fennel, avocado, spinach and broccoli salad with feta and mustard and plant-oil dressing with one slice of sourdough bread, plus one plain yoghurt pot with a handful of berries

Dinner: Roast red cabbage and red lentil dahl with rice

Snack: Sugar-free ricecakes with nut butter.

Tuesday Breakfast: Two eggs with two slices wholemeal toast and Marmite

Lunch: Barley or other wholegrain salad with smoked mackerel, seeds

radishes, celery, chickpeas, herbs, oil and lemon juice dressing; one piece of fruit.

Dinner: One baked sweet potato with salsa, cavolo nero, avocado, black beans, grated cheese and a dollop of sour cream.

Snack: One handful of roasted chickpeas.

Wednesday Breakfast: Two slices of wholemeal toast with one sliced banana and honey; one cup of tea or coffee with milk.

Lunch: Spicy miso noodle soup with tofu, radishes, leafy greens and poached egg (that’s your quota for two weeks used up: no eggs for you next week); small pot of plain yoghurt

Dinner: Steamed veg (kale, broccoli and carrot) with a yoghurt and fresh herb dressing and olive oil, root veg and bean mash.

Snack: Cannellini bean dip with red pepper sticks

It was The Economists’ Hour, as the title of the New York Times editorial writer Binyamin Appelbaum’s debut book has it.

Lemann and Appelbaum contribute to the second wave of post-2008 commentary. The first postmortems focused narrowly on the global financial crisis, dissecting the distorted incentives, regulatory frailty, and groupthink that caused bankers to blow up the world economy

The new round of analysis broadens the lens, searching out larger political and intellectual wrong turns, an expansion that reflects the morphing of the 2008 crash into a general populist surge.

Berle went further. He laid out in detail how shareholders, being so dispersed and numerous, could not hope to restrain bosses—indeed, how nobody could do so. Enormous powers to shape society belonged to company chieftains who answered to no one. Hence Berle’s prescription: The government should regulate them.

“the Treaty of Detroit,” GM’s bosses granted workers regular cost-of-living pay increases, a measure of job security, health insurance, and a pension—benefits that were almost unheard-of. General Motors had “set itself up as a comprehensive welfare state for its workers,” in Lemann’s succinct formulation.

Berle celebrated the Treaty of Detroit by propounding a pro-corporate liberalism. The corporation had become the “conscience-carrier of twentieth-century American society,” he marveled

Anticipating the “end of history” triumphalism of a later era, the sociologist Daniel Bell feted the corporatist order in a book titled The End of Ideology.

the chief threat to Berle’s vision came not from America’s suspicion of concentrated power. It came from economics

Starting in the 1970s, however, economists began to wield extraordinary influence. They persuaded Richard Nixon to abolish the military draft. They brought economics into the courtroom. They took over many of the top posts at regulatory agencies

The rise of economics, Appelbaum writes, “transformed the business of government, the conduct of business, and, as a result, the patterns of everyday life.

Jensen agreed with Berle’s starting point: Corporate managers were unaccountable because shareholders could not restrain them. But rather than seeing a remedy in checks exerted by regulators and organized labor, Jensen proposed to overhaul the firm so that ownership and control were reunited

In sum, Jensen’s prescriptions inverted Berle’s. The market could be made to solve the problem of the firm. Government could pull back from regulation

After decades in which economists’ influence expanded rapidly, the striking thing about the Trump administration and its foreign analogues is that they have largely dispensed with economic advisers

Shortly after the publication of his research, the invention of junk bonds made hostile takeovers the rage. During the ’80s, more than a quarter of the companies on the Fortune 500 list were targeted. Jensen became the scholar who explained why this unprecedented boardroom bloodbath was good news for America.

to a considerable extent, the news was good. Shielded from market discipline, the old corporate heads had deployed capital carelessly

From 1977 to 1988, Jensen calculated, American corporations had increased in value by $500 billion as a result of the new market for corporate control. Reengineered and reinvigorated, American business staved off what might have been an existential threat from Japanese competition.

Yet a large cost eluded Jensen’s calculations. The social contract of the Berle era was gone: the unstated assumption of lifetime employment, the promise of retirement benefits, the sense of community and stability and shared purpose that gave millions of lives their meaning. Berle had viewed the corporation as a social and political institution as much as an economic one, and the dismembering of corporations on purely economic grounds was bound to generate fallout that had not been accounted for

Even before the 2008 crash, Jensen disavowed the transactional culture he had helped to legitimize. Holy shit, Jensen remembers saying to himself. Anything can be corrupted.

Contrary to common presumption, the economics establishment in the 1990s and 2000s did not believe that markets were perfectly efficient. Rather, influential economists took the pragmatic view that markets would discipline financiers more effectively than regulators could

He is happy to state at the outset that market-oriented reforms have lifted billions out of poverty, and to recognize that the deregulation that helped undo Berle-ism was not some kind of right-wing plot. In the late ’70s, it was initiated by Democrats such as President Jimmy Carter and Senator Ted Kennedy.

Inequality has grown to unacceptable extremes in highly developed economies. From 1980 to 2010, life expectancy for poor Americans scandalously declined, even as the rich lived longer.

Meanwhile, the primacy of economics has not generated faster economic growth. From 1990 until the eve of the financial crisis, U.S. real GDP per person grew by a little under 2 percent a year, less than the 2.5 percent a year in the oil-shocked 1970s.

economists have repeatedly made excessive claims for their discipline

In the ’60s, Kennedy’s and Johnson’s advisers thought they had the business cycle tamed. They believed they could prevent recessions by “fine-tuning” tax and spending policies

When this expectation was exposed as hubris, Milton Friedman urged central banks to focus exclusively on the supply of money circulating in the economy. This too was soon discredited. From the ’90s onward, economists oversold the benefits of targeting inflation, forgetting that other perils—the human cost of unemployment, the destabilization wrought by financial bubbles—might well be worse than rising prices

Greenspan and Summers ducked the political challenge of buffering new kinds of financial trading with regulatory safeguards

Michael C. Jensen, an entertainingly impassioned financial economist who reframed attitudes toward the corporation in the mid-’70s.

today’s fierce international competition and disruptive innovation oblige businesses to cut costs or go under. The dilemma is that, even as they compel efficiency, globalization and technological change exacerbate inequality and uncertainty and therefore the need for a compassionate social contract

LinkedIn is not a solution to worker insecurity writ large, still less to inequality. On the contrary, a world in which people compete to gather connections may be even less equal than our current one. A few high-octane networkers will attract large followings, while a long tail of pedestrians will have only a handful of buddies

Rather than buy in to a single grand vision, societies should prefer a robust contest among interest groups—what Lemann calls pluralism. Borrowing from the forgotten early-20th-century political scientist Arthur Bentley, Lemann defines groups broadly. States and cities are “locality groups,” income categories are “wealth groups,” supporters of a particular politician constitute “personality groups.” People inevitably affiliate themselves with such groups; groups naturally compete to influence the government; and the resulting push and pull, not squabbles among intellectuals about organizing concepts, constitutes the proper stuff of politics

Lemann is aware of the risks in this conclusion. He cites the obvious objection: “The flaw in the pluralist heaven is that the heavenly chorus sings with a strong upper-class accent.” In a contest of competing interest groups, the ones with the most money are likely to win

For those who regard inequality as a challenge, an interest-group free-for-all is a perilous prescription.

Appelbaum presents a series of persuasive recommendations, confirming that Lemann is wrong to despair of reasoned, technocratic argument. If policy makers want ordinary Americans to appreciate the benefits of open trade, they must ensure that displaced workers have access to training and health care. Because some interest groups are weaker than others, government should correct the double standard by which the power of labor unions is regarded with antipathy but the power of business monopolies is tolerated

Progressives should look for ways to be pro-competition but anti-inequality

—it isn’t so clear that the economists have departed

throughout Appelbaum’s narrative, many of the knights who slay the dragons of bad economic ideology are economists themselves. The story of the past generation is more about debates among economists than about economists pitted against laypeople. Perhaps, with a bit of humility and retooling, the economists will have their day again. If they do not come up with the next set of good ideas, it is not obvious who will

“I’m not saying I have all the answers — I don’t,” she said, “But what I know and what I feel very strongly is that sitting around not doing anything is the wrong answer.”

“Murdoch media are notorious amongst climate scientists for their constant stream of misinformation on climate change,” said Stefan Rahmstorf of the Potsdam Institute for Climate Impact Research. “I can see how a thinking person who marries into that family might feel an urge to counter at least a little bit of the damage they do.”

She decided, however, that spreading scientific knowledge might not be enough. People already understand that the planet is warming and that humans are the cause. The deeper problem, she said, is that the government of the United States isn’t doing anything about it.

ichard H. Pildes, a professor at New York University Law School and an expert on constitutional law and democracy, said that democracy reform efforts were laudable but a long shot. They “might have effects at the margins,” he said, but “these reforms are not likely to fundamentally transform our politics from this hyper-polarized era we’ve been in for nearly 40 years.”

“Everyone is so panicked about the situation and wants to help, but doesn’t know what to do.”

She said she still had “a lot of hope” that we are capable of solving the climate crisis. “But we don’t yet have the political will.”

He was essentially ordering the company to do something it had already arranged to do: G.M. announced earlier on Friday that it was moving forward with an emergency joint venture with a small manufacturer, Ventec Life Systems, even in the absence of a contract from the Federal Emergency Management Agency.

In a late-afternoon news conference, Mr. Trump said, “Now it turns out we will have to be producing large numbers.” He said that over the next 100 days, “we will either make or get, in some form, over 100,000 additional units,” more than three times the nation’s annual production.

Mr. Trump’s announcement at his coronavirus task force’s daily briefing came on a day of intensive criticism of the administration’s slow response and lack of leadership in a pandemic that has now resulted in over 1,500 deaths in the United States. More than 100,000 people here have been infected with the coronavirus, according to a New York Times database. The United States is the only country so far to hit that milestone.

Much of the criticism has focused on the absence of sufficient stockpiles of basic materials like masks and ventilators, and especially on the lack of urgency in organizing increased production and distribution.

Officials in more than 200 American cities, large and small, report a dire need for face masks, ventilators and other emergency equipment to respond to the coronavirus outbreak, according to a survey released on Friday.

More than 90 percent — or 192 cities — told the conference that they did not have an adequate supply of face masks for police officers, firefighters or emergency workers. In addition, 92 percent of cities reported a shortage of test kits to diagnose who has contracted the virus — a problem Mr. Trump has said in recent days was all but solved — and 85 percent said they did not have a sufficient supply of ventilators available to health facilities.

Roughly two-thirds of the cities said they had not received any emergency equipment or supplies from their state, the report said. And of those that did receive state aid, nearly 85 percent said it was not enough to meet their needs.

In total, the conference tabulated that cities needed 28.5 million face masks, 24.4 million other items of personal protection equipment, 7.9 million test kits and 139,000 ventilators.

In New York, the epicenter of the virus in the United States, doctors and nurses have reported that they were being forced to experiment with putting several patients on a single ventilator — a largely untested, unapproved practice that state authorities are now permitting in an effort to keep alive older adults or immunocompromised patients who could not breathe on their own.

“I don’t believe you need 40,000 or 30,000 ventilators,” Mr. Trump said Thursday night, discussing an urgent request from Gov. Andrew M. Cuomo of New York. “You know, you’re going to major hospitals sometimes, they’ll have two ventilators. And now, all of a sudden, they’re saying, can we order 30,000 ventilators?”

Mr. Trump’s abrupt change on the need for ventilators appeared to be in response to news reports that his administration had decided at the last minute not to announce a $1.5 billion contract with G.M. because of concern about the high cost and slow delivery of the machines.

Because Mr. Trump played down the severity of the coronavirus for much of January and February, and into the beginning of March, the White House got a late start in assessing how much equipment would be needed.

The White House had been preparing to unveil the G.M.-Ventec joint venture this week, and had hoped to announce that upward of 20,000 ventilators would be available in weeks, and that ultimately 80,000 would be produced. But the company complained that FEMA would not commit to spending the $250 million or so it would take to retool the factory.