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Javier E

Opinion | Why Did So Many Economists Get Disinflation Wrong? - The New York Times - 0 views

  • The Brookings Papers on Economic Activity, a conference held twice a year, is America’s premier forum for relating academic research to “the most urgent economic challenges of the day.” The lead presentation at the September 2022 conference was a paper by Laurence Ball, Daniel Leigh and Prachi Mishra on inflation. And its conclusions were dismal. Harvard’s Jason Furman, one of the assigned discussants, wrote an opinion piece calling it “the scariest economics paper of 2022,” suggesting that to get inflation down to 2 percent “we may need to tolerate unemployment of 6.5 percent for two years.”
  • My question instead is why so many economists got the inflation outlook so wrong.
  • Unemployment is still near a 50-year low, yet here’s what happened to the Federal Reserve’s preferred measure of underlying inflation, the personal consumption expenditures deflator excluding food and energy (try saying that five times fast):
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  • But when economists talk about inflation, they mean the rate at which prices are increasing, not their absolute level.
  • The first is: what disinflation? Prices are still a lot higher than they were three years ago.
  • let me deal with two complaints I often get when I talk about disinflation.
  • If you want a measure that’s closer to how people currently spend their money, you want the Harmonized Index of Consumer Prices.
  • The second complaint I constantly hear involves assertions that the supposed fall in inflation is fake, because economists exclude the prices of the things real people actually buy.
  • this is almost exactly wrong. The U.S. Consumer Price Index contains a lot of stuff people do not, in fact, actually buy. As we’ve discussed before in this newsletter, a quarter of the index is “owners’ equivalent rent,” an estimate of what homeowners would be paying if they were renting their houses.
  • trying to get the overall level of prices back to what it was before an inflationary shock, as opposed to stabilizing them, is almost always a bad idea.
  • The bottom line is that disinflation is real — indeed, spectacular.
  • Are we all the way back to 2 percent inflation? Probably not, although there’s a real angels-dancing-on-the-head-of-a-pin feel to the debate over the right measure of underlying inflation, and even over what that term really means
  • ut we’ve gotten most of the way there, without a recession or even a large rise in unemployment.
  • So why were many economists so pessimistic last fall?
  • what strikes me about the dire inflation predictions of summer and fall 2022 is their non sequiturness (non sequituritality?)
  • The Biden fiscal stimulus of early 2021 was very large, so it made sense to worry about excessive spending driving prices up. Predictions that inflation would remain stubbornly high, however, didn’t draw at all on the same logic; instead, pessimists came up with new, completely unrelated justifications for their pessimism.
  • these arguments for persistent inflation weren’t just unrelated to the original case for inflation; they were also unrelated to each other — almost as if economists were looking for reasons to be pessimistic.
  • I’d like to see some hard thinking about how so many of my colleagues got this story so wrong, and maybe even a bit of introspection about their motivations.
redavistinnell

Why I Cannot Fall in Line Behind Trump - The New York Times - 0 views

  • Why I Cannot Fall in Line Behind Trump
  • Republicans who disagree with my stance make the following argument: Mr. Trump, while flawed, is preferable to Hillary Clinton. His cabinet appointments, they say, have been reassuring, and it’s true that several of them are. In addition, the nominee to replace Antonin Scalia on the Supreme Court is certain to be more of an originalist than a Clinton appointment would be. On top of that, Republicans are in control of Congress, meaning they are likely to drive much of the agenda, particularly given Mr. Trump’s notable lack of interest in policy. Whatever misgivings anti-Trump conservatives might have had about him, he’ll undo much of the agenda of his liberal predecessor while Mrs. Clinton would have built on it.
  • To understand why, it’s worth keeping in mind that my chief worries about Mr. Trump were never strictly ideological; they had to do with temperament and character.
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  • The more pressing concern many of us had about Mr. Trump is that he simply isn’t up to the job of being president.
  • Last weekend Mr. Trump gave an interview to the Washington Post in which he said his administration would quickly put out its own health proposal, which would cover everyone now insured and cost much less.
  • The extraordinary and unenviable task facing the White House staff is to contain Mr. Trump, to keep a dysfunctional president from producing a dysfunctional presidency.
  • Beyond that, Mr. Trump has continued to demonstrate impulsivity and narcissism, an affinity for conflict and vindictiveness. Which leads to my main worry about Mr. Trump: His chronic lack of restraint will not be confined to Twitter. His Twitter obsessions are a manifestation of a deeper disorder.
  • He thrives on creating disorder, in violating rules, in provoking outrage. He is a shock jock. This might be a tolerable (if culturally coarsening) trait in a reality television star; it is a dangerous one in a commander in chief.
  • For Mr. Trump, nothing is sacred. The truth is malleable, instrumental, subjective. It is all about him. It is always about him.
  • When President Trump is buffeted by events — when hard times hit, when crises arise, when other politicians and world leaders do not bend to his will — pernicious things will happen.
  • Rather than try to address the alienation and anger that exists in America, he will amplify them. He’ll create yet more conspiracy theories.
  • He will also go in search of enemies — the press, the opposition party, other nations, even Republican leaders — in order to create diversions that inflame his most loyal supporters.
  • In failing to distinguish between the good of the nation and his own vanity, the danger is that Mr. Trump will fail to see the limits of his authority and will try to use both the bully pulpit and the power of government — the I.R.S., the F.B.I., regulatory agencies and others — to settle personal scores. He’ll do what he needs to in order to get his way.
  • What this means is that Republican leaders in Congress need to be ready to call Mr. Trump on his abuses and excesses, now that he is actually in office.
  • They need to ask themselves a simple, searching question: “If Barack Obama did this very thing, what would I be saying and doing now?” — and then say and do it.
  • man with illiberal tendencies, a volatile personality and no internal checks is now president. This isn’t going to end well.
Javier E

The Austerity Agenda - NYTimes.com - 0 views

  • why is Britain doing exactly what it shouldn’t? Unlike the governments of, say, Spain or California, the British government can borrow freely, at historically low interest rates. So why is that government sharply reducing investment and eliminating hundreds of thousands of public-sector jobs, rather than waiting until the economy is stronger
  • I’ve posed that question to a number of supporters of the government of Prime Minister David Cameron, sometimes in private, sometimes on TV. And all these conversations followed the same arc: They began with a bad metaphor and ended with the revelation of ulterior motives.
  • The bad metaphor — which you’ve surely heard many times — equates the debt problems of a national economy with the debt problems of an individual family. A family that has run up too much debt, the story goes, must tighten its belt. So if Britain, as a whole, has run up too much debt — which it has, although it’s mostly private rather than public debt — shouldn’t it do the same? What’s wrong with this comparison?
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  • The answer is that an economy is not like an indebted family. Our debt is mostly money we owe to each other; even more important, our income mostly comes from selling things to each other. Your spending is my income, and my spending is your income.
  • So what happens if everyone simultaneously slashes spending in an attempt to pay down debt? The answer is that everyone’s income falls — my income falls because you’re spending less, and your income falls because I’m spending less. And, as our incomes plunge, our debt problem gets worse, not better.
  • these assertions often go along with claims that the economic crisis itself demonstrates the need to shrink government. But that’s manifestly not true. Look at the countries in Europe that have weathered the storm best, and near the top of the list you’ll find big-government nations like Sweden and Austria.
  • there’s a clear moral to this story: When the private sector is frantically trying to pay down debt, the public sector should do the opposite, spending when the private sector can’t or won’t. By all means, let’s balance our budget once the economy has recovered — but not now. The boom, not the slump, is the right time for austerity.
  • when you push “austerians” on the badness of their metaphor, they almost always retreat to assertions along the lines of: “But it’s essential that we shrink the size of the state.”
  • The great American economist Irving Fisher explained it all the way back in 1933, summarizing what he called “debt deflation” with the pithy slogan “the more the debtors pay, the more they owe.
  • So the austerity drive in Britain isn’t really about debt and deficits at all; it’s about using deficit panic as an excuse to dismantle social programs. And this is, of course, exactly the same thing that has been happening in America.
  • The big question here is whether the evident failure of austerity to produce an economic recovery will lead to a “Plan B.” Maybe. But my guess is that even if such a plan is announced, it won’t amount to much. For economic recovery was never the point; the drive for austerity was about using the crisis, not solving it. And it still is.
Javier E

Ta-Nehisi Coates's 'Letter to My Son' - The Atlantic - 0 views

  • The question is not whether Lincoln truly meant “government of the people” but what our country has, throughout its history, taken the political term “people” to actually mean. In 1863 it did not mean your mother or your grandmother, and it did not mean you and me.
  • When the journalist asked me about my body, it was like she was asking me to awaken her from the most gorgeous dream. I have seen that dream all my life. It is perfect houses with nice lawns. It is Memorial Day cookouts, block associations, and driveways. The Dream is tree houses and the Cub Scouts. And for so long I have wanted to escape into the Dream, to fold my country over my head like a blanket. But this has never been an option, because the Dream rests on our backs, the bedding made from our bodies.
  • you know now, if you did not before, that the police departments of your country have been endowed with the authority to destroy your body. It does not matter if the destruction is the result of an unfortunate overreaction. It does not matter if it originates in a misunderstanding. It does not matter if the destruction springs from a foolish policy
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  • To be black in the Baltimore of my youth was to be naked before the elements of the world, before all the guns, fists, knives, crack, rape, and disease. The law did not protect us. And now, in your time, the law has become an excuse for stopping and frisking you, which is to say, for furthering the assault on your body
  • There is nothing uniquely evil in these destroyers or even in this moment. The destroyers are merely men enforcing the whims of our country, correctly interpreting its heritage and legacy. This legacy aspires to the shackling of black bodies
  • It is hard to face this. But all our phrasing—race relations, racial chasm, racial justice, racial profiling, white privilege, even white supremacy—serves to obscure that racism is a visceral experience, that it dislodges brains, blocks airways, rips muscle, extracts organs, cracks bones, breaks teeth
  • ou must never look away from this. You must always remember that the sociology, the history, the economics, the graphs, the charts, the regressions all land, with great violence, upon the body.
  • And should one live in such a body? What should be our aim beyond meager survival of constant, generational, ongoing battery and assault? I have asked this question all my life.
  • The question is unanswerable, which is not to say futile. The greatest reward of this constant interrogation, of confrontation with the brutality of my country, is that it has freed me from ghosts and myths.
  • I was afraid long before you, and in this I was unoriginal. When I was your age the only people I knew were black, and all of them were powerfully, adamantly, dangerously afraid. It was always right in front of me. The fear was there in the extravagant boys of my West Baltimore neighborhood
  • The fear lived on in their practiced bop, their slouching denim, their big T- shirts, the calculated angle of their baseball caps, a catalog of behaviors and garments enlisted to inspire the belief that these boys were in firm possession of everything they desired.
  • But a society that protects some people through a safety net of schools, government-backed home loans, and ancestral wealth but can only protect you with the club of criminal justice has either failed at enforcing its good intentions or has succeeded at something much darker.
  • still and all I knew that we were something, that we were a tribe—on one hand, invented, and on the other, no less real. The reality was out there on the Yard, on the first warm day of spring when it seemed that every sector, borough, affiliation, county, and corner of the broad diaspora had sent a delegate to the great world party
  • I remember being amazed that death could so easily rise up from the nothing of a boyish afternoon, billow up like fog. I knew that West Baltimore, where I lived; that the north side of Philadelphia, where my cousins lived; that the South Side of Chicago, where friends of my father lived, comprised a world apart. Somewhere out there beyond the firmament, past the asteroid belt, there were other worlds where children did not regularly fear for their bodies
  • I came to understand that my country was a galaxy, and this galaxy stretched from the pandemonium of West Baltimore to the happy hunting grounds of Mr. Belvedere. I obsessed over the distance between that other sector of space and my own. I knew that my portion of the American galaxy, where bodies were enslaved by a tenacious gravity, was black and that the other, liberated portion was not. I knew that some inscrutable energy preserved the breach. I felt, but did not yet understand, the relation between that other world and me. And I felt in this a cosmic injustice, a profound cruelty, which infused an abiding, irrepressible desire to unshackle my body and achieve the velocity of escape.
  • Before I could escape, I had to survive, and this could only mean a clash with the streets, by which I mean not just physical blocks, nor simply the people packed into them, but the array of lethal puzzles and strange perils which seem to rise up from the asphalt itself. The streets transform every ordinary day into a series of trick questions, and every incorrect answer risks a beat-down, a shooting, or a pregnancy. No one survives unscathed
  • When I was your age, fully one-third of my brain was concerned with who I was walking to school with, our precise number, the manner of our walk, the number of times I smiled, who or what I smiled at, who offered a pound and who did not—all of which is to say that I practiced the culture of the streets, a culture concerned chiefly with securing the body.
  • Why were only our heroes nonviolent? Back then all I could do was measure these freedom-lovers by what I knew. Which is to say, I measured them against children pulling out in the 7-Eleven parking lot, against parents wielding extension cords, and the threatening intonations of armed black gangs saying, “Yeah, nigger, what’s up now?” I judged them against the country I knew, which had acquired the land through murder and tamed it under slavery, against the country whose armies fanned out across the world to extend their dominion. The world, the real one, was civilization secured and ruled by savage means. How could the schools valorize men and women whose values society actively scorned? How could they send us out into the streets of Baltimore, knowing all that they were, and then speak of nonviolence?
  • the beauty of the black body was never celebrated in movies, in television, or in the textbooks I’d seen as a child. Everyone of any import, from Jesus to George Washington, was white. This was why your grandparents banned Tarzan and the Lone Ranger and toys with white faces from the house. They were rebelling against the history books that spoke of black people only as sentimental “firsts”—first black four-star general, first black congressman, first black mayor—always presented in the bemused manner of a category of Trivial Pursuit.
  • erious history was the West, and the West was white. This was all distilled for me in a quote I once read, from the novelist Saul Bellow. I can’t remember where I read it, or when—only that I was already at Howard. “Who is the Tolstoy of the Zulus?,” Bellow quipped
  • this view of things was connected to the fear that passed through the generations, to the sense of dispossession. We were black, beyond the visible spectrum, beyond civilization. Our history was inferior because we were inferior, which is to say our bodies were inferior. And our inferior bodies could not possibly be accorded the same respect as those that built the West. Would it not be better, then, if our bodies were civilized, improved, and put to some legitimate Christian use?
  • now I looked back on my need for a trophy case, on the desire to live by the standards of Saul Bellow, and I felt that this need was not an escape but fear again—fear that “they,” the alleged authors and heirs of the universe, were right. And this fear ran so deep that we accepted their standards of civilization and humanity.
  • “Tolstoy is the Tolstoy of the Zulus,” wrote Wiley. “Unless you find a profit in fencing off universal properties of mankind into exclusive tribal ownership.” And there it was. I had accepted Bellow’s premise. In fact, Bellow was no closer to Tolstoy than I was to Nzinga. And if I were closer it would be because I chose to be, not because of destiny written in DNA. My great error was not that I had accepted someone else’s dream but that I had accepted the fact of dreams, the need for escape, and the invention of racecraft.
  • The destroyers will rarely be held accountable. Mostly they will receive pensions.
  • I could see now that that world was more than a photonegative of that of the people who believe they are white. “White America” is a syndicate arrayed to protect its exclusive power to dominate and control our bodies. Sometimes this power is direct (lynching), and sometimes it is insidious (redlining). But however it appears, the power of domination and exclusion is central to the belief in being white, and without it, “white people” would cease to exist for want of reasons
  • here will surely always be people with straight hair and blue eyes, as there have been for all history. But some of these straight-haired people with blue eyes have been “black,” and this points to the great difference between their world and ours. We did not choose our fences. They were imposed on us by Virginia planters obsessed with enslaving as many Americans as possible. Now I saw that we had made something down here, in slavery, in Jim Crow, in ghettoes. At The Mecca I saw how we had taken their one-drop rule and flipped it. They made us into a race. We made ourselves into a people.
  • Think of all the embraces, all the private jokes, customs, greetings, names, dreams, all the shared knowledge and capacity of a black family injected into that vessel of flesh and bone. And think of how that vessel was taken, shattered on the concrete, and all its holy contents, all that had gone into each of them, was sent flowing back to the earth. It is terrible to truly see our particular beauty, Samori, because then you see the scope of the loss. But you must push even further. You must see that this loss is mandated by the history of your country, by the Dream of living white.
  • I don’t know if you remember how the film we saw at the Petersburg Battlefield ended as though the fall of the Confederacy were the onset of a tragedy, not jubilee. I doubt you remember the man on our tour dressed in the gray wool of the Confederacy, or how every visitor seemed most interested in flanking maneuvers, hardtack, smoothbore rifles, grapeshot, and ironclads, but virtually no one was interested in what all of this engineering, invention, and design had been marshaled to achieve. You were only 10 years old. But even then I knew that I must trouble you, and this meant taking you into rooms where people would insult your intelligence, where thieves would try to enlist you in your own robbery and disguise their burning and looting as Christian charity. But robbery is what this is, what it always was.
  • American reunion was built on a comfortable narrative that made enslavement into benevolence, white knights of body snatchers, and the mass slaughter of the war into a kind of sport in which one could conclude that both sides conducted their affairs with courage, honor, and élan. This lie of the Civil War is the lie of innocence, is the Dream.
  • I, like every kid I knew, loved The Dukes of Hazzard. But I would have done well to think more about why two outlaws, driving a car named the General Lee, must necessarily be portrayed as “just some good ole boys, never meanin’ no harm”—a mantra for the Dreamers if there ever was one. But what one “means” is neither important nor relevant. It is not necessary that you believe that the officer who choked Eric Garner set out that day to destroy a body. All you need to understand is that the officer carries with him the power of the American state and the weight of an American legacy, and they necessitate that of the bodies destroyed every year, some wild and disproportionate number of them will be black.
  • Here is what I would like for you to know: In America, it is traditional to destroy the black body—it is heritage. Enslavement was not merely the antiseptic borrowing of labor—it is not so easy to get a human being to commit their body against its own elemental interest. And so enslavement must be casual wrath and random manglings, the gashing of heads and brains blown out over the river as the body seeks to escape. It must be rape so regular as to be industrial. There is no uplifting way to say this.
  • It had to be blood. It had to be the thrashing of kitchen hands for the crime of churning butter at a leisurely clip. It had to be some woman “chear’d ... with thirty lashes a Saturday last and as many more a Tuesday again.” It could only be the employment of carriage whips, tongs, iron pokers, handsaws, stones, paperweights, or whatever might be handy to break the black body, the black family, the black community, the black nation. The bodies were pulverized into stock and marked with insurance. And the bodies were an aspiration, lucrative as Indian land, a veranda, a beautiful wife, or a summer home in the mountains. For the men who needed to believe themselves white, the bodies were the key to a social club, and the right to break the bodies was the mark of civilization.
  • “The two great divisions of society are not the rich and poor, but white and black,” said the great South Carolina senator John C. Calhoun. “And all the former, the poor as well as the rich, belong to the upper class, and are respected and treated as equals.” And there it is—the right to break the black body as the meaning of their sacred equality. And that right has always given them meaning, has always meant that there was someone down in the valley because a mountain is not a mountain if there is nothing below.
  • There is no them without you, and without the right to break you they must necessarily fall from the mountain, lose their divinity, and tumble out of the Dream. And then they would have to determine how to build their suburbs on something other than human bones, how to angle their jails toward something other than a human stockyard, how to erect a democracy independent of cannibalism. I would like to tell you that such a day approaches when the people who believe themselves to be white renounce this demon religion and begin to think of themselves as human. But I can see no real promise of such a day. We are captured, brother, surrounded by the majoritarian bandits of America. And this has happened here, in our only home, and the terrible truth is that we cannot will ourselves to an escape on our own.
  • I think now of the old rule that held that should a boy be set upon in someone else’s chancy hood, his friends must stand with him, and they must all take their beating together. I now know that within this edict lay the key to all living. None of us were promised to end the fight on our feet, fists raised to the sky. We could not control our enemies’ number, strength, or weaponry. Sometimes you just caught a bad one. But whether you fought or ran, you did it together, because that is the part that was in our control. What we must never do is willingly hand over our own bodies or the bodies of our friends. That was the wisdom: We knew we did not lay down the direction of the street, but despite that, we could—and must—fashion the way of our walk. And that is the deeper meaning of your name—that the struggle, in and of itself, has meaning.
  • I have raised you to respect every human being as singular, and you must extend that same respect into the past. Slavery is not an indefinable mass of flesh. It is a particular, specific enslaved woman, whose mind is as active as your own, whose range of feeling is as vast as your own; who prefers the way the light falls in one particular spot in the woods, who enjoys fishing where the water eddies in a nearby stream, who loves her mother in her own complicated way, thinks her sister talks too loud, has a favorite cousin, a favorite season, who excels at dressmaking and knows, inside herself, that she is as intelligent and capable as anyone. “Slavery” is this same woman born in a world that loudly proclaims its love of freedom and inscribes this love in its essential texts, a world in which these same professors hold this woman a slave, hold her mother a slave, her father a slave, her daughter a slave, and when this woman peers back into the generations all she sees is the enslaved. She can hope for more. She can imagine some future for her grandchildren. But when she dies, the world—which is really the only world she can ever know—ends. For this woman, enslavement is not a parable. It is damnation. It is the never-ending night. And the length of that night is most of our history. Never forget that we were enslaved in this country longer than we have been free. Never forget that for 250 years black people were born into chains—whole generations followed by more generations who knew nothing but chains.
  • You must resist the common urge toward the comforting narrative of divine law, toward fairy tales that imply some irrepressible justice. The enslaved were not bricks in your road, and their lives were not chapters in your redemptive history. They were people turned to fuel for the American machine. Enslavement was not destined to end, and it is wrong to claim our present circumstance—no matter how improved—as the redemption for the lives of people who never asked for the posthumous, untouchable glory of dying for their children. Our triumphs can never redeem this. Perhaps our triumphs are not even the point. Perhaps struggle is all we have
  • I am not a cynic. I love you, and I love the world, and I love it more with every new inch I discover. But you are a black boy, and you must be responsible for your body in a way that other boys cannot know. Indeed, you must be responsible for the worst actions of other black bodies, which, somehow, will always be assigned to you. And you must be responsible for the bodies of the powerful—the policeman who cracks you with a nightstick will quickly find his excuse in your furtive movements. You have to make your peace with the chaos, but you cannot lie.
  • “I could have you arrested,” he said. Which is to say: “One of your son’s earliest memories will be watching the men who sodomized Abner Louima and choked Anthony Baez cuff, club, tase, and break you.” I had forgotten the rules, an error as dangerous on the Upper West Side of Manhattan as on the West Side of Baltimore. One must be without error out here. Walk in single file. Work quietly. Pack an extra No. 2 pencil. Make no mistakes.
  • the price of error is higher for you than it is for your countrymen, and so that America might justify itself, the story of a black body’s destruction must always begin with his or her error, real or imagined—with Eric Garner’s anger, with Trayvon Martin’s mythical words (“You are gonna die tonight”), with Sean Bell’s mistake of running with the wrong crowd, with me standing too close to the small-eyed boy pulling out.
  • You are called to struggle, not because it assures you victory but because it assures you an honorable and sane life
  • I am sorry that I cannot save you—but not that sorry. Part of me thinks that your very vulnerability brings you closer to the meaning of life, just as for others, the quest to believe oneself white divides them from it. The fact is that despite their dreams, their lives are also not inviolable. When their own vulnerability becomes real—when the police decide that tactics intended for the ghetto should enjoy wider usage, when their armed society shoots down their children, when nature sends hurricanes against their cities—they are shocked by the rages of logic and the natural world in a way that those of us who were born and bred to understand cause and effect can never be.
  • I would not have you live like them. You have been cast into a race in which the wind is always at your face and the hounds are always at your heels. And to varying degrees this is true of all life. The difference is that you do not have the privilege of living in ignorance of this essential fact.
  • I never wanted you to be twice as good as them, so much as I have always wanted you to attack every day of your brief bright life determined to struggle. The people who must believe they are white can never be your measuring stick. I would not have you descend into your own dream. I would have you be a conscious citizen of this terrible and beautiful world.
redavistinnell

U.S. Consumer Prices Fall 0.1% in December - WSJ - 0 views

  • U.S. Consumer Prices Fall 0.1% in December
  • “Slowing rent inflation is telling us the momentum in the economy is slowing,” said Steve Blitz, chief economist at ITG Investment Research Inc. “It’s increasingly evident that the economy slowed in the second half of the year."
  • That slowdown has brought little inflation pressure across swaths of the economy. The consumer-price index, which measures what Americans pay for everything from airfare to baby food, fell a seasonally adjusted 0.1% in December from the prior month, the Labor Department said. The index is up just 0.7% over the past 12 months.
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  • The U.S. economy has been steadily adding jobs, but is struggling to break out of a sluggish growth trajectory amid turmoil in overseas economies.
  • Excluding the volatile food and energy categories, so-called core prices rose 0.1%, their smallest increase since August.
  • Even as unemployment has fallen to 5%, workers have seen only modest wage growth. Wednesday’s report showed gasoline prices have fallen by 19.7% since December 2014, saving many Americans hundreds of dollars. But those savings from have so far failed to translate into robust consumer spending.
mcginnisca

The European Prospect (Fall Preview) - 0 views

  • European project after World War II was among the most noble in modern history. Germany, twice the cause of catastrophic wars, would not be punished but rebuilt, rehabilitated, and contained within a larger democratic European whole.
  • hristian Democrats called it a social market economy; social democrats thought of it as a more flexible alternative to socialism
  • urope would be not just a continent with common traditions, converging aspirations and open trade, but an emergent political federation. It would be more than a customs union—an economic union with a single currency, consistent economic rules, and social Europe balancing market Europe at a continental scale.
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  • All of the pathologies evident in the 1930s, which weighed so heavily on the minds of the EU’s architects, are resurgent—the high unemployment, the economic extremes, the perverse austerity policies, the popular backlash against ineffectual parliamentary politics, and the resulting ultra-nationalism.
  • For the right, the remedy was a return to a more laissez-faire model, even though there was little evidence that Europe’s social market had anything to do with the economic slowdown
  • For the first four postwar decades, democratically mobilized citizens in strong nation-states anchored the social part of Europe while the European Economic Community, predecessor of the EU, promoted the market part
  • WHEN JACQUES DELORS, a moderate French socialist, launched a full-blown European Union in the 1980s, the hope was to expand social Europe and market Europe in tandem. But in the actual Maastricht Treaty of 1992—Europe’s de facto constitution—free movement of goods, services, capital, and people are fundamental rights, and social protections are add-ons
  • IF EUROPE NEEDED ONE more assault to further undermine the model, it came via the refugee crisis. The crisis laid bare two awful fragilities. The first is the dysfunction of the EU as a confederation with multiple veto points and little capacity for leadership in a crisis
  • Politically, the collision of a lingering and needless economic crisis with a random refugee crisis has energized nationalism, both moderate and neo-fascist. In Norway, Sweden, Denmark, the Netherlands, France, Finland, Austria, and elsewhere, the second- or third-strongest party is far-right populist. Much of this support is working-class, at the expense of social democrats.
  • he refugee crisis also makes clear that much of Europe’s social compact assumes a common national identity, to which foreigners do not easily fit in.
  • Europe might be able to accept a million refugees economically, but it cannot do so politically. The refugee crisis is simply an overlay on a deeper crisis of solidarity and common purpose. Unless there is a renewal of popular energy and a burst of progressive leadership, the three-decade era of broadly shared prosperity—les trente glorieuses, as the French call it—will be remembered as a historical blip. The EU aspired to combine that impossible trinity of the French Revolution: liberty, equality, and fraternity. All three are now on the defensive.
katyshannon

Lowering Water Levels in This Magical Mexican Reservoir Reveal a Colonial Church - 0 views

  • In Chiapas, Mexico, a recent drought has partially dried up the Grijalva river, only to reveal a hidden wonder.  The Nezahualcoyotl reservoir water levels have dropped by nearly 100 feet, exposing the Temple of Santiago, a 16th century church also known as the Temple of Quechula.
  • Nezahualcoyotl reservoir was created with the construction of a dam in 1966, which resulted in the submersion of the church. The temple has been exposed only once since then, in 2002, when water levels dropped so dramatically, visitors were able to walk around inside the church.
  • The structure was built in the mid-16th century by monks led by Friar Bartolome de las Casas, a Spanish missionary who exposed the existence and advocated for the end of colonial slavery. 
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  • Both then and now, local fishermen have taken visitors on tours of the colonial architectural jewel, catching and cooking local fish for the curious visitors.
  • A few hundred years later, the Temple of Santiago was deserted.  "The church was abandoned due [to] the big plagues of 1773-1776," Carlos Navarete, an architect who worked with the government on an assessment of the church, told the Associated Press.
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    Low water levels in Mexico reveal a colonial church built by Bartolome de las Casas
johnsonma23

Analysis: Too late to stop Trump? As he glides, other candidates fall back in debate - LA Times - 0 views

  • Analysis Too late to stop Trump? As he glides, other candidates fall back in debate
  • Donald Trump sailed above the other candidates, who mostly engaged in round-robin fighting that left each of them wounded and him largely unscathed.
  • the sixth in a nomination contest that has defied predictions, left a GOP establishment that fears disastrous repercussions from a Trump nomination no closer to finding a way to head him off, with the first balloting now a little more than two weeks away.
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  • Trump repeatedly dismissed the nuanced arguments of his peers in favor of the blunt and forceful assertions that have made the billionaire the party’s national front-runner.
  • "I will gladly accept the mantle of anger," he made clear that he understands what many of his establishment foes still seem not to — that much of what they see as weaknesses in his campaign are the wellsprings of its support
  • His opponents, by contrast, often acting with visible desperation to attract attention as voters start making up their minds, seemed mostly intent on fighting among themselves. That precluded any single candidate from rising above the others.
  • Texas Sen. Ted Cruz, tied with Trump in first-voting Iowa,
  • He was himself pummeled by other candidates who want to replace him as Trump’s main nemesis.
  • Rubio offered an upbeat new-generation pitch as the centerpiece of his campaign
  • In the course of the conflict, he and Cruz emptied their opposition research files onto each other
  • New York and loved New Yorkers. And I have to tell you, that was a very insulting statement that Ted made."
  • Republicans typically pick as their nominee the person who placed second the last time out, but this race has been nothing the party has seen before.
  • Instead, it is Trump who has controlled the race.
  • The survey also showed a dramatic shift in Trump’s direction on another important measure.
  • In March, 23% of GOP primary voters said they could see supporting him. Now it's 65%.
  • "I recognize that Donald is dismayed that his poll numbers are falling in Iowa," Cruz said, "but the facts and the law here are really quite clear."
  • Trump responded by citing a contrary view by Cruz’s former Harvard professor and jocularly suggested he was concerned lest there be complications if he picked Cruz as his vice presidential nominee.
  • Trump when he defended an assessment days ago that Trump represented "New York values.
  • "Edward Snowden is a traitor. And if I am president and we get our hands on him, he is standing trial for treason," Rubio said
  • “Radical Islamic terrorism was not invented 24 months ago,” he said, citing precursors to the Islamic State.
jongardner04

Japanese shares hit one-year low after falls in the US - BBC News - 0 views

  • Japanese shares hit a one-year low early on Monday following big falls in the US and as oil prices dropped below $28 for the first time since 2003.
  • China, analysts said they expected markets to be hurt further this week by falling oil prices, together with continued worries about the mainland's economic growth. The country's latest quarterly gross domestic product numbers are out on Tuesday.
Javier E

On Grand Strategy (John Lewis Gaddis) - 0 views

  • minds. Ordinary experience, he pointed out, is filled with “ends equally ultimate . . . , the realization of some of which must inevitably involve the sacrifice of others.” The choices facing us are less often between stark alternatives—good versus evil, for instance—than between good things we can’t have simultaneously. “One can save one’s soul, or one can found or maintain or serve a great and glorious State,” Berlin wrote, “but not always both at once.”
  • We resolve these dilemmas by stretching them over time. We seek certain things now, put off others until later, and regard still others as unattainable. We select what fits where, and then decide which we can achieve when. The process can be difficult: Berlin emphasized the “necessity and agony of choice.” But if such choices were to disappear, he added, so too would “the freedom to choose,” and hence liberty itself.24
  • only narratives can show dilemmas across time. It’s not enough to display choices like slivers on a microscope slide. We need to see change happen, and we can do that only by reconstituting the past as histories, biographies, poems, plays, novels, or films. The best of these sharpen and shade simultaneously: they compress what’s happening in order to clarify, even as they blur, the line between instruction and entertainment. They are, in short, dramatizations. And a fundamental requirement of these is never to bore.
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  • When Thaddeus Stevens (Tommy Lee Jones) asks the president how he can reconcile so noble an aim with such malodorous methods, Lincoln recalls what his youthful years as a surveyor taught him: [A] compass . . . [will] point you true north from where you’re standing, but it’s got no advice about the swamps and deserts and chasms
  • chasms that you’ll encounter along the way. If in pursuit of your destination, you plunge ahead, heedless of obstacles, and achieve nothing more than to sink in a swamp . . . , [then] what’s the use of knowing true north?
  • The real Lincoln, as far as I know, never said any of this, and the real Berlin, sadly, never got to see Spielberg’s film. But Tony Kushner’s screenplay shows Fitzgerald’s linkage of intelligence, opposing ideas, and the ability to function: Lincoln keeps long-term aspirations and immediate necessities in mind at the same time. It reconciles Berlin’s foxes and hedgehogs with his insistence on the inevitability—and the unpredictability—of choice:
  • Whether we approach reality from the top down or the bottom up, Tolstoy seems to be saying, an infinite number of possibilities exist at an indeterminate number of levels, all simultaneously. Some are predictable, most aren’t, and only dramatization—free from the scholar’s enslavement to theory and archives—can begin to represent them.
  • what is “training,” as Clausewitz understands it? It’s being able to draw upon principles extending across time and space, so that you’ll have a sense of what’s worked before and what hasn’t. You then apply these to the situation at hand: that’s the role of scale. The result is a plan, informed by the past, linked to the present, for achieving some future goal.
  • I think he’s describing here an ecological sensitivity that equally respects time, space, and scale. Xerxes never had it, despite Artabanus’ efforts. Tolstoy approximated it, if only in a novel. But Lincoln—who lacked an Artabanus and who didn’t live to read War and Peace—seems somehow to have achieved it, by way of a common sense that’s uncommon among great leaders.
  • It’s worth remembering also that Lincoln—and Shakespeare—had a lifetime to become who they were. Young people today don’t, because society so sharply segregates general education, professional training, ascent within an organization, responsibility for it, and then retirement.
  • This worsens a problem Henry Kissinger identified long ago: that the “intellectual capital” leaders accumulate prior to reaching the top is all they’ll be able to draw on while at the top.37 There’s less time now than Lincoln had to learn anything new.
  • A gap has opened between the study of history and the construction of theory, both of which are needed if ends are to be aligned with means. Historians, knowing that their field rewards specialized research, tend to avoid the generalizations
  • Theorists, keen to be seen as social “scientists,” seek “reproducibility” in results: that replaces complexity with simplicity in the pursuit of predictability. Both communities neglect relationships between the general and the particular—between universal and local knowledge—that nurture strategic thinking.
  • concrete events in time and space—the sum of the actual experience of actual men and women in their relation to one another and to an actual three-dimensional, empirically experienced, physical environment—this alone contained the truth,
  • Collaboration, in theory, could have secured the sea and the land from all future dangers. That would have required, though, the extension of trust, a quality with strikingly shallow roots in the character of all Greeks.
  • The only solution then is to improvise, but this is not just making it up as you go along. Maybe you’ll stick to the plan, maybe you’ll modify it, maybe you’ll scrap it altogether. Like Lincoln, though, you’ll know your compass heading, whatever the unknowns that lie between you and your destination. You’ll have in your mind a range of options for dealing with these, based—as if from Machiavelli—upon hard-won lessons from those who’ve gone before.
  • The past and future are no more equivalent, in Thucydides, than are capabilities and aspirations in strategy—they are, however, connected.
  • The past we can know only from imperfect sources, including our own memories. The future we can’t know, other than that it will originate in the past but then depart from it. Thucydides’ distinction between resemblance and reflection—between patterns surviving across time and repetitions degraded by time—aligns the asymmetry, for it suggests that the past prepares us for the future only when, however imperfectly, it transfers. Just as capabilities restrict aspirations to what circumstances will allow.
  • Insufficiency demands indirection, and that, Sun Tzu insists, requires maneuver: [W]hen capable, feign incapacity; when active, inactivity. When near, make it appear that you are far; when far away, that you are near. Offer an enemy a bait to lure him; feign disorder and strike him. . . . When he concentrates, prepare against him; where he is strong, avoid him. . . . Pretend inferiority and encourage his arrogance. . . . Keep him under a strain and wear him down. Opposites held in mind simultaneously, thus, are “the strategist’s keys to victory.”
  • it was Pericles who, more than anyone else, unleashed the Peloponnesian War—the unintended result of constructing a culture to support a strategy.
  • By the mid-450s Pericles, who agreed, had finished the walls around Athens and Piraeus, allowing total reliance on the sea in any future war. The new strategy made sense, but it made the Athenians, as Thucydides saw, a different people. Farmers, traditionally, had sustained Athens: their fields and vineyards supplied the city in peacetime, and their bodies filled the ranks of its infantry and cavalry when wars came. Now, though, their properties were expendable and their influence diminished.
  • If Athens were to rely upon the ardor of individuals, then it would have to inspire classes within the city and peoples throughout the empire—even as it retained the cohesiveness of its rival Sparta, still in many ways a small town.
  • Pericles used his “funeral oration,” delivered in Athens at the end of the Peloponnesian War’s first year, to explain what he hoped for. The dead had given their lives, he told the mourners, for the universality of Athenian distinctiveness: Athens imitated no one, but was a pattern for everyone. How, though, to reconcile these apparent opposites? Pericles’ solution was to connect scale, space, and time: Athenian culture would appeal to the city, the empire, and the ages.
  • The city had acquired its “friends,” Pericles acknowledged, by granting favors, “in order by continued kindness to keep the recipient in [its] debt; while the debtor [knows] that the return he makes will be a payment, not a free gift.” Nevertheless, the Athenians had provided these benefits “not from calculations of expediency, but in the confidence of liberality.” What he meant was that Athens would make its empire at once more powerful and more reassuring than that of any rival.
  • It could in this way project democracy across cultures because insecure states, fearing worse, would freely align with Athens.22 Self-interest would become comfort and then affinity.
  • The Athenians’ strategy of walling their cities, however, had reshaped their character, obliging them restlessly to roam the world. Because they had changed, they would have to change others—that’s what having an empire means—but how many, to what extent, and by what means? No one, not even Pericles, could easily say.
  • Equality, then, was the loop in Pericles’ logic. He saw both it and empire as admirable, but was slow to sense that encouraging one would diminish the other.
  • Like Lincoln, Pericles looked ahead to the ages. He even left them monuments and sent them messages. But he didn’t leave behind a functional state: it would take well over two millennia for democracy again to become a model with mass appeal.
  • as Thucydides grimly observes, war “brings most men’s character to a level with their fortunes.”
  • “Island” strategies require steady nerves. You have to be able to watch smoke rise on horizons you once controlled without losing your own self-confidence, or shaking that of allies, or strengthening that of adversaries.
  • For the abstractions of strategy and the emotions of strategists can never be separated: they can only be balanced. The weight attached to each, however, will vary with circumstances. And the heat of emotions requires only an instant to melt abstractions drawn from years of cool reflection.
  • if credibility is always in doubt, then capabilities must become infinite or bluffs must become routine. Neither approach is sustainable: that’s why walls exist in the first place.
  • he encouraged his readers to seek “knowledge of the past as an aid to the understanding of the future, which in the course of human things must resemble if it does not reflect it.” For without some sense of the past the future can be only loneliness: amnesia is a solitary affliction.
  • But to know the past only in static terms—as moments frozen in time and space—would be almost as disabling, because we’re the progeny of progressions across time and space that shift from small scales to big ones and back again. We know these through narratives, whether historical or fictional or a combination of both.
  • No one can anticipate everything that might happen. Sensing possibilities, though, is better than having no sense at all of what to expect. Sun Tzu seeks sense—even common sense—by tethering principles, which are few, to practices, which are many.
  • Clausewitz’s concept of training, however, retains its relevance. It’s the best protection we have against strategies getting stupider as they become grander, a recurring problem in peace as well as war. It’s the only way to combine the apparent opposites of planning and improvisation: to teach the common sense that comes from knowing when to be a hedgehog and when a fox.
  • Victories must connect: otherwise they won’t lead anywhere. They can’t be foreseen, though, because they arise from unforeseen opportunities. Maneuvering, thus, requires planning, but also improvisation. Small triumphs in a single arena set up larger ones elsewhere, allowing weaker contenders to become stronger.
  • The actions of man, Kennan concluded, “are governed not so much by what he intellectually believes as by what he vividly realizes.”
  • Nor is it clear, even now, whether Christianity caused Rome’s “fall”—as Gibbon believed—or—as the legacies of Augustus suggest—secured Rome’s institutional immortalities. These opposites have shaped “western” civilization ever since. Not least by giving rise to two truly grand strategies, parallel in their purposes but devised a thousand years apart
  • Augustine shows that reality always falls short of the ideal: one can strive toward it, but never expect to achieve it. Seeking, therefore, is the best man can manage in a fallen world, and what he seeks is his choice. Nevertheless, not all ends are legitimate; not all means are appropriate. Augustine seeks, therefore, to guide choice by respecting choice. He does this through an appeal to reason: one might even say to common sense.
  • A peaceful faith—the only source of justice for Christians—can’t flourish without protection, whether through toleration, as in pre-Constantine Rome, or by formal edict, as afterward.20 The City of God is a fragile structure within the sinful City of Man. It’s this that leads Christians to entrust authority to selected sinners—we call it “politics”—and Augustine, for all his piety, is a political philosopher.
  • Augustine concluded that war, if necessary to save the state, could be a lesser evil than peace—and that the procedural prerequisites for necessity could be stated. Had provocation occurred? Had competent authority exhausted peaceful alternatives? Would the resort to violence be a means chosen, not an end in itself? Was the expenditure of force proportionate to its purposes, so that it wouldn’t destroy what it was meant to defend?
  • No one before Augustine, however, had set standards to be met by states in choosing war. This could be done only within an inclusionary monotheism, for only a God claiming universal authority could judge the souls of earthly rulers. And only Augustine, in his era, spoke so self-confidently for Him. The
  • Augustine’s great uncertainty was the status of souls in the City of Man, for only the fittest could hope to enter the City of God. Pre-Christian deities had rarely made such distinctions: the pagan afterlife was equally grim for heroes, scoundrels, and all in between.25 Not so, though, with the Christian God: behavior in life would make a huge difference in death. It was vital, then, to fight wars within rules. The stakes could hardly be higher.
  • Alignment, in turn, implies interdependence. Justice is unattainable in the absence of order, peace may require the fighting of wars, Caesar must be propitiated—perhaps even, like Constantine, converted—if man is to reach God. Each capability brings an aspiration within reach, much as Sun Tzu’s practices tether his principles, but what’s the nature of the tether? I think it’s proportionality: the means employed must be appropriate to—or at least not corrupt—the end envisaged. This, then, is Augustine’s tilt: toward a logic of strategy transcending time, place, culture, circumstance, and the differences between saints and sinners.
  • a more revealing distinction may lie in temperament: to borrow from Milan Kundera,37 Machiavelli found “lightness of being” bearable. For Augustine—perhaps because traumatized as a youth by a pear tree—it was unendurable.
  • “I judge that it might be true that fortune is arbiter of half our actions, but also that she leaves the other half, or close to it, for us to govern.” Fifty percent fortune, fifty percent man—but zero percent God. Man is, however precariously, on his own.
  • States, Machiavelli suggests, operate similarly. If governed badly, men’s rapacity will soon overwhelm them, whether through internal rebellion or external war. But if run with virtù—his untranslatable term for planning without praying40—states can constrain, if not in all ways control, the workings of fortune, or chance. The skills needed are those of imitation, adaptation, and approximation.
  • Machiavelli commends the study of history, “for since men almost always walk on paths beaten by others and proceed in their actions by imitation . . . , a prudent man should always enter upon the paths beaten by great men, and imitate those who have been most excellent, so that if his own virtue does not reach that far, it is at least in the odor of it.”
  • What, then, to do? It helped that Machiavelli and Berlin had lightness of being, for their answer is the same: don’t sweat it. Learn to live with the contradictions. Machiavelli shows “no trace of agony,” Berlin points out, and he doesn’t either:
  • Eternal truths have little to do with any of this, beyond the assurance that circumstances will change. Machiavelli knows, as did Augustine, that what makes sense in one situation may not in the next. They differ, though, in that Machiavelli, expecting to go to Hell, doesn’t attempt to resolve such disparities. Augustine, hoping for Heaven, feels personally responsible for them. Despite his afflictions, Machiavelli often sees comedy.42 Despite his privileges, Augustine carries a tragic burden of guilt. Machiavelli sweats, but not all the time. Augustine never stops.
  • “Lightness of being,” then, is the ability, if not to find the good in bad things, then at least to remain afloat among them, perhaps to swim or to sail through them, possibly even to take precautions that can keep you dry. It’s not to locate logic in misfortunes, or to show that they’re for the best because they reflect God’s will.
  • Augustine and Machiavelli agree that wars should be fought—indeed that states should be run—by pre-specifiable procedures. Both know that aspirations aren’t capabilities. Both prefer to connect them through checklists, not commandments.43
  • Augustine admits, which is why good men may have to seek peace by shedding blood. The greater privilege, however, is to avert “that calamity which others are under the necessity of producing.” Machiavelli agrees, but notes that a prince so infrequently has this privilege that if he wishes to remain in power he must “learn to be able not to be good,” and to use this proficiency or not use it “according to necessity.”51 As fits man’s fallen state, Augustine sighs. As befits man, Machiavelli simplifies.
  • As Machiavelli’s finest translator has put it: “[J]ustice is no more reasonable than what a person’s prudence tells him he must acquire for himself, or must submit to, because men cannot afford justice in any sense that transcends their own preservation.”53
  • princes need advisers. The adviser can’t tell the prince what to do, but he can suggest what the prince should know. For Machiavelli this means seeking patterns—across time, space, and status—by shifting perspectives. “[J]ust as those who sketch landscapes place themselves down in the plain to consider the nature of mountains . . . and to consider the nature of low places place themselves high atop mountains,
  • Machiavelli embraces, then, a utilitarian morality: you proportion your actions to your objective, not to progress from one nebulous city to another, but because some things have been shown to work and others haven’t.60
  • Who, then, will oversee them? They’ll do it themselves, Machiavelli replies, by balancing power. First, there’ll be a balance among states, unlike older Roman and Catholic traditions of universality. Machiavelli anticipates the statecraft of Richelieu, Metternich, Bismarck,
  • But Machiavelli understands balancing in a second and subtler sense, conveyed more explicitly in The Discourses than in The Prince: [I]t is only in republics that the common good is looked to properly in that all that promotes it is carried out; and, however much this or that private person may be the loser on this account, there are so many who benefit thereby that the common good can be realized in spite of those few who suffer in consequence.64 This idea of an internal equilibrium within which competition strengthens community wouldn’t appear again until Adam Smith unveiled an “invisible hand” in The Wealth of Nations (1776), until the American Founding Fathers drafted and in The Federalist justified constitutional checks and balances (1787–88), and until Immanuel Kant linked republics, however distantly, with Perpetual Peace (1795).
  • Machiavelli’s great transgression, Berlin concluded, was to confirm what everyone knows but no one will admit: that ideals “cannot be attained.” Statecraft, therefore, can never balance realism against idealism: there are only competing realisms. There is no contest, in governing, between politics and morality: there is only politics. And no state respects Christian teaching on saving souls. The incompatibilities are irreconcilable. To deny this is, in Berlin’s words but in Machiavelli’s mind, to “vacillate, fall between two stools, and end in weakness and failure.”
  • And approximation? “[P]rudent archers,” Machiavelli points out, knowing the strength of their bow, “set their aim much higher than the place intended, not to reach such height with their arrow, but to be able with the aid of so high an aim to achieve their plan.”41 For there will be deflection—certainly from gravity, perhaps from wind, who knows from what else? And the target itself will probably be moving.
  • Augustine’s City of God no longer exists on earth. The City of Man, which survives, has no single path to salvation. “[T]he belief that the correct, objectively valid solution to the question of how men should live can in principle be discovered,” Berlin finds, “is itself in principle not true.” Machiavelli thus split open the rock “upon which Western beliefs and lives had been founded.” It was he “who lit the fatal fuse.”
  • Machiavelli’s blood ran colder than was ordinary: he praised Cesare Borgia, for example, and he refused to condemn torture despite having suffered it (Augustine, never tortured, took a similar position).75 Machiavelli was careful, however, to apportion enormities: they should only forestall greater horrors—violent revolution, defeat in war, descent into anarchy, mass killing, or what we would today call “genocide.”
  • Berlin sees in this an “economy of violence,” by which he means holding a “reserve of force always in the background to keep things going in such a way that the virtues admired by [Machiavelli] and by the classical thinkers to whom he appeals can be protected and allowed to flower.”76 It’s no accident that Berlin uses the plural. For it comes closer than the singular, in English, to Machiavelli’s virtù, implying no single standard by which men must live.
  • “[T]here are many different ends that men may seek and still be fully rational,” Berlin insists, “capable of understanding . . . and deriving light from each other.” Otherwise, civilizations would exist in “impenetrable bubble[s],” incomprehensible to anyone on the outside. “Intercommunication between cultures in time and space is possible only because what makes men human is common to them, and acts as a bridge between them. But our values are ours, and theirs are theirs.”
  • Perhaps there are other worlds in which all principles are harmonized, but “it is on earth that we live, and it is here that we must believe and act.”77 By shattering certainty, Machiavelli showed how. “[T]he dilemma has never given men peace since it came to light,” Berlin lightly concludes, “but we have learnt to live with it.”
  • Posterity has long regarded Augustine and Machiavelli as pivots in the history of “western” thought because each, with enduring effects, shifted long-standing relationships between souls and states.
  • Philip promises obedience to God, not his subjects. Elizabeth serves her subjects, fitting God to their interests. The king, looking to Heaven, venerates. The queen, feet on earth, calculates. The differences test the ideas of Augustine and Machiavelli against the demands of statecraft at the dawn of the modern age.
  • Relishing opposites, the queen was constant only in her patriotism, her insistence on keeping ends within means, and her determination—a requirement for pivoting—never to be pinned down.
  • Pivoting requires gyroscopes, and Elizabeth’s were the best of her era. She balanced purposefulness with imagination, guile, humor, timing, and an economy in movement that, however extravagant her display, kept her steady on the tightrope she walked.
  • Machiavelli, thinking gyroscopically, advised his prince to be a lion and a fox, the former to frighten wolves, the latter to detect snares. Elizabeth went him one better by being lion, fox, and female, a combination the crafty Italian might have learned to appreciate. Philip was a grand lion, but he was only a lion.
  • princes can through conscientiousness, Machiavelli warned, become trapped. For a wise ruler “cannot observe faith, nor should he, when such observance turns against him, and the causes that made him promise have been eliminated. . . . Nor does a prince ever lack legitimate causes to color his failure to observe faith.”46
  • What we like to recall as the Elizabethan “golden age” survived only through surveillance and terror: that was another of its contradictions, maintained regretfully with resignation.
  • The queen’s instincts were more humane than those of her predecessors, but too many contemporaries were trying to kill her. “Unlike her sister, Elizabeth never burned men for their faith,” her recent biographer Lisa Hilton has written. “She tortured and hanged them for treason.”60 Toleration, Machiavelli might have said, had turned against Elizabeth. She wanted to be loved—who wouldn’t? It was definitely safer for princes, though, to be feared.
  • “The failure of the Spanish Armada,” Geoffrey Parker has argued, “laid the American continent open to invasion and colonization by northern Europeans, and thus made possible the creation of the United States.” If that’s right, then the future pivoted on a single evening—August 7, 1588—owing to a favorable wind, a clever lord admiral, and a few fiery ships. Had he succeeded, Philip would have required Elizabeth to end all English voyages to America.4
  • In contrast to Spain’s “new world” colonies—and to the territories that France, more recently, had claimed (but barely settled) along the banks of the St. Lawrence, the Great Lakes, and the Ohio and Mississippi rivers—British America “was a society whose political and administrative institutions were more likely to evolve from below than to be imposed from above.”10 That made it a hodgepodge, but also a complex adaptive system.
  • The principles seem at odds—how can supremacies share?—but within that puzzle, the modern historian Robert Tombs has suggested, lay the foundations of England’s post-Stuart political culture: [S]uspicion of Utopias and zealots; trust in common sense and experience; respect for tradition; preference for gradual change; and the view that “compromise” is victory, not betrayal. These things stem from the failure of both royal absolutism and of godly republicanism: costly failures, and fruitful ones.
Javier E

Germany's green energy shift is more fizzle than sizzle - POLITICO - 0 views

  • High power prices, continued coal dependency and a “poor CO2 emissions record” mean Germany is falling behind other countries in shifting away from fossil fuels, according to McKinsey’s new global Energy Transition Index
  • In Europe, 11 countries including Sweden, Austria, Denmark, the U.K. and France do better in cutting coal dependency and greening their energy systems.
  • The European Commission’s latest country assessment, published earlier this month, found that Germany is at “considerable risk” of missing its national energy efficiency target of 20 percent by 2020. For now, it is still expected to meet its 2020 renewable energy target of 18 percent,
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  • enewable power last year surged to 36 percent of the country's electricity use, according to the Agora Energiewende think tank. But while renewables grew in the power sector, they didn't make major strides in transport or heating, so they account for just over 13 percent of energy use.
  • Germany is also set to fall short of its national climate target of cutting greenhouse gas emissions by 40 percent by 2020. The new coalition government effectively abandoned that goal, instead focusing on meeting its 2030 target of reducing emissions by 55 percent. Germany is also expected to miss its emissions reduction target for sectors such as transport and buildings.
  • For years Germany was one of the world's energy transformation leaders. It was German cash that helped finance the technology revolution that has turned solar and wind into viable technologies that now generate increasingly cheap power
  • An average four-person household has to pay more than double for power in 2017 compared to 2000,"
  • The powerful German business lobby BDI is also unhappy, saying in a recent report that high electricity costs, delays in boosting the energy efficiency of buildings, and a “lack of vision” on transport are "worrying German industry.”
  • Greenhouse gas emissions in Germany have stagnated for three years in a row, rather than falling. That's largely to do with rising pollution caused by transportation, as well as a failure to reduce emissions in the buildings sector as energy consumption went up thanks to the economic recovery.
  • Souring opinions on diesel engines further weigh on emissions. Diesel cars emit less greenhouse gases than those powered by gasoline, which is why the country's politicians and car industry saw diesel as a panacea to deal with global warming.
  • But the Dieselgate scandal hammered the reputation of diesel cars, and there is growing concern about the smog that diesel generates. As cities consider banning older diesel cars, sales have fallen off a cliff. The share of diesel-fueled passenger cars in Germany was 39 percent last year, down from about 46 percent in 2016, 
  • "Germany missed bringing electric cars on to roads,
  • "In order to have an energy transition, you have to build up renewable energies, but then you also have to reduce coal, step-by-step,” Kemfert said. "That happened too late in Germany.
  • A lot of Germany's renewable power, especially powerful offshore wind, is generated in the north of the country. The difficulty is getting that electricity to industrial regions in the south like Bavaria.
  • For years Germany annoyed neighbors like the Netherlands, the Czech Republic and Poland by sending surges of electricity through their networks. They've now taken short-term measures to reduce the disruptions until the necessary transmission links are built.
  • domestic opposition is making it difficult for Germany to build its own north-south and other new interconnectors. The project has faced delays as people battle the idea of ugly high-voltage power lines besmirching pretty landscapes. Now much of the interconnector is due to run underground, ramping up costs.
  • Volkswagen's recent pledge to spend €20 billion on battery contracts and to begin making electric cars at 16 sites worldwide shows the car industry is taking steps to shift its business model — which could help secure a long-term drop in Germany's transport emissions.
  • Proponents of a swift coal exit, however, shouldn't hold their breath. Altmaier also said that ending coal power won't "happen suddenly and abruptly, but step-by-step over several decades."
Javier E

A twenty-year professor on starting college this fall: Don't. - 0 views

  • Even if some face-to-face instruction resumes, no one knows if it will last for the whole semester or all year. If there’s anything worse than resigning yourself to a freshman year spent online, it would be moving across country or across town, into a dorm room or an apartment — only to have to move out weeks or months later, with no guarantee of any refund
  • Or worse yet — going back to school, only to have a family member fall ill, or to get sick yourself, when COVID-19 makes a resurgence, as it almost certainly will until there is a vaccine — which in turn is unlikely before January 2021 at the soonest.
  • schools are cutting expenses now — freezing all faculty hiring, and preparing to raise faculty courseloads and class sizes, even as they shrink course offerings. Minimum class sizes will go up, meaning specialized and small courses may disappear.
Javier E

Why Americans Are Dying from Despair | The New Yorker - 0 views

  • Outside of wars or pandemics, death rates for large populations across the world have been consistently falling for decades
  • Yet working-age white men and women without college degrees were dying from suicide, drug overdoses, and alcohol-related liver disease at such rates that, for three consecutive years, life expectancy for the U.S. population as a whole had fallen. “The only precedent is a century ago, from 1915 through 1918, during the First World War and the influenza epidemic that followed it,”
  • Between 1999 and 2017, more than six hundred thousand extra deaths—deaths in excess of the demographically predicted number—occurred just among people aged forty-five to fifty-four.
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  • their explanation begins by dismantling several others.
  • Was the source of the problem America’s all-too-ready supply of prescription opioids?
  • About a million Americans now use heroin daily or near-daily. Many others use illicitly obtained synthetic opioids like fentanyl.
  • As Case and Deaton note, most people who abuse or become addicted to opioids continue to lead functional lives and many eventually escape their dependence
  • The oversupply of opioids did not create the conditions for despair. Instead, it appears, the oversupply fed upon a white working class already adrift.
  • although opioid deaths plateaued, at least temporarily, in 2018, suicides and alcohol-related deaths continue upward.
  • Could deaths of despair be related to the rising incidence of obesity?
  • Case and Deaton report that we’re seeing the same troubling health trends “among the underweight, normal weight, overweight, and obese.”
  • Is the problem poverty?
  • Overdose deaths are most common in high-poverty Appalachia and along the low-poverty Eastern Seaboard, in places such as Massachusetts, New Hampshire, Delaware, and Connecticut. Meanwhile, some high-poverty states, such as Arkansas and Mississippi, have been less affected. Black and Hispanic populations are poorer but less affected, too.
  • How about income inequality? Case and Deaton have found that patterns of inequality, like patterns of poverty, simply don’t match the patterns of mortality by race or region.
  • A consistently strong economic correlate, by contrast, is the percentage of a local population that is employed
  • In the late nineteen-sixties, Case and Deaton note, all but five per cent of men of prime working age, from twenty-five to fifty-four, had jobs; by 2010, twenty per cent did not.
  • What Case and Deaton have found is that the places with a smaller fraction of the working-age population in jobs are places with higher rates of deaths of despair—and that this holds true even when you look at rates of suicide, drug overdoses, and alcohol-related liver disease separately. They all go up where joblessness does.
  • Conservatives tend to offer cultural explanations
  • People are taking the lazy way out of responsibilities, the argument goes, and so they choose alcohol, drugs, and welfare and disability checks over a commitment to hard work, family, and community. And now they are paying the price for their hedonism and decadence—with addiction, emptiness, and suicide.
  • Yet, if the main problem were that a large group of people were withdrawing from the workforce by choice, wages should have risen in parallel.
  • Case and Deaton argue that the problem arises from the cumulative effect of a long economic stagnation and the way we as a nation have dealt with it
  • For the first few decades after the Second World War, per-capita U.S. economic growth averaged between two and three per cent a year. In the nineties, however, it dipped below two per cent. In the early two-thousands, it was less than one per cent. This past decade, it remained below 1.5 per cent.
  • Different populations have experienced this slowdown very differently
  • Anti-discrimination measures improved earnings and job prospects for black and Hispanic Americans. Though their earnings still lag behind those of the white working class, life for this generation of people of color is better than it was for the last.
  • Not so for whites without a college education. Among the men, median wages have not only flattened; they have declined since 1979. The work that the less educated can find isn’t as stable: hours are more uncertain, and job duration is shorter
  • Among advanced economies, this deterioration in pay and job stability is unique to the United States.
  • In the past four decades, Americans without bachelor’s degrees—the majority of the working-age population—have seen themselves become ever less valued in our economy. Their effort and experience provide smaller rewards than before, and they encounter longer periods between employment.
  • The problem isn’t that people are not the way they used to be. It’s that the economy and the structure of work are not the way they used to be
  • Today, about seventy-five per cent of college graduates are married by age forty-five, but only sixty per cent of non-college graduates are
  • Nonmarital childbearing has reached forty per cent among less educated white women.
  • Religious institutions previously played a vital role in connecting people to a community. But the number of Americans who attend religious services has declined markedly over the past half century, falling to just one-third of the general population today.
  • Case and Deaton see a picture of steady economic and social breakdown, amid over-all prosperity.
  • climate—the amount of social and economic instability not only in your life but also in your family and community—matters, too. Émile Durkheim pointed out more than a century ago that despair and then suicide result when people’s material and social circumstances fall below their expectations.
  • why has the steep rise in deaths of despair been so uniquely American
  • The United States has provided unusually casual access to means of death.
  • The availability of opioids has indeed played a role, and the same goes for firearms
  • The U.S. has also embraced automation and globalization with greater alacrity and fewer restrictions than other countries have. Displaced workers here get relatively little in the way of protection and support.
  • And we’ve enabled capital to take a larger share of the economic gains. “Economists long thought that the ratio of wages to profits was an immutable constant, about two to one,” Case and Deaton point out. But since 1970, they find, it has declined significantly.
  • A more unexpected culprit identified by Case and Deaton is our complicated and costly health-care system.
  • The focus of Case and Deaton’s indictment is on the fact that America’s health-care system is peculiarly reliant on employer-provided insurance.
  • As they show, the premiums that employers pay amount to a perverse tax on hiring lower-skilled workers.
  • According to the Kaiser Family Foundation, in 2019 the average family policy cost twenty-one thousand dollars, of which employers typically paid seventy per cent.
  • “For a well-paid employee earning a salary of $150,000, the average family policy adds less than 10 percent to the cost of employing the worker,” Case and Deaton write. “For a low-wage worker on half the median wage, it is 60 percent.”
  • between 1970 and 2016, the earnings that laborers received fell twenty-one per cent. But their total compensation, taken to include the cost of their benefits (in particular, health care), rose sixty-eight per cent. Increases in health-care costs have devoured take-home pay for those below the median income.
  • this makes American health care itself a prime cause of our rising death rates.
  • we must change the way we pay for health care. Instead of preserving a system that discourages employers from hiring, retaining, and developing workers without bachelor’s degrees, we need to make health-care payments proportional to wages—as with tax-based systems like Medicare.
  • So far, the American approach to the rise in white working-class mortality has been to pour resources into addiction-treatment centers and suicide-prevention programs. Yet the rates of suicide and addiction remain sky-high. It’s as if we’re using pressure dressings on a bullet wound to the chest instead of getting at the source of the bleeding.
  • Case and Deaton want us to recognize that the more widespread response is a sense of hopelessness and helplessness. And here culture does play a role.
  • When it comes to people whose lives aren’t going well, American culture is a harsh judge: if you can’t find enough work, if your wages are too low, if you can’t be counted on to support a family, if you don’t have a promising future, then there must be something wrong with you
  • We Americans are reluctant to acknowledge that our economy serves the educated classes and penalizes the rest. But that’s exactly the situation, and “Deaths of Despair” shows how the immiseration of the less educated has resulted in the loss of hundreds of thousands of lives, even as the economy has thrived and the stock market has soared.
  • capitalism, having failed America’s less educated workers for decades, must change, as it has in the past. “There have been previous periods when capitalism failed most people, as the Industrial Revolution got under way at the beginning of the nineteenth century, and again after the Great Depression,” they write. “But the beast was tamed, not slain.”
  • Today, the battles are over an employer-based system for financing health care, corporate governance that puts shareholders’ interests ahead of workers’, tax plans that benefit capital holders over wage earners.
  • We are better at addressing fast-moving crises than slow-building ones. It wouldn’t be surprising, then, if we simply absorbed current conditions as the new normal.
Javier E

Ken Burns's 'Vietnam War' Episode 6 recap: Behind the most famous photo of Vietnam - The Washington Post - 0 views

  • Adams’s photograph was on the front page of every newspaper, it seems, across the world as well as the country, and had profound influence on turning people’s opinions about the war, it is the footage that in some ways has the power to see the cavalierness with which Loan steps up to him and kills him. The drinking of the beer afterwards.
  • But more importantly, the way Lem falls. The way the blood gushes up 8 or 10 or 12 inches from his head for a moment. The way a pool of blood — and NBC, to their credit, insists that we only use exactly what was being shown. No more, and more importantly no less for those of us uncomfortable by that sort of stuff.
  • Q: I think for me, I mean you talked about the beer and the way he falls. But the thing that has always stayed with me is the looseness of the general’s wrist as he’s waving the revolver around.
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  • BURNS: That’s what I meant by cavalier. It’s just so run-of-the-mill, as if the extinguishing — and, look, you’re in the military, that’s your job. But just the cavalierness of a surrendered prisoner or a captured prisoner or whatever it is, it’s a spy and obviously he’s lost comrades in this. But there’s no justification for that moment in any rational scenario — any humane scenario, is probably the better way to describe it. And so what it becomes is an abhorrent mirror to the possibilities in ourselves.
  • This episode is called “Things Fall Apart” and it has to do with the William Butler Yeats poem that Robert Kennedy cites in an editorial that he writes that year opposing the war in no uncertain terms in the New York Times. But it’s also about what the title of the next episode is about: the veneer of civilization.
  • This is how close we are. I always feel that all of these images here are mirrors. They ask us — and I think one of the gifts of filmmaking is that it permits us to order and sequence images to remind us of not what happens but also what we are capable of ourselves.
  • And look, murder and war, they’re synonymous. But there’s something about that moment, that photograph and that footage, that are the — it’s the heart of darkness of the whole story.
martinelligi

Lebanon: 'mafias' and 'militias' run the country, activists and journalist say - CNN - 0 views

  • Lebanon is facing economic collapse. Since late 2019, the country's currency has lost over 90% of its value, and people's life savings are locked up in banks that have imposed discretionary capital controls. The financial meltdown has pushed half of Lebanon's population below the poverty line, according to the
  • Political turmoil has exacerbated the crisis. The government resigned after hundreds of tons of ammonium nitrate -- neglected and mismanaged for years by Beirut port officials -- exploded, leaving more than 200 people dead and thousands more injured. The heart of the city still stands disfigured with countless buildings damaged and destroyed.
  • The latest political dispute is between Prime Minister-designate Saad Hariri and President Michel Aoun. Hariri has promised, once he finally has a government in place, to stop Lebanon's collapse and restart negotiations with the International Monetary Fund (IMF) over a desperately needed bailout.
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  • According to Transparency International's Corruption Perception Index, Lebanon ranks 149 out of 180 countries, indicating high corruption levels. And the World Bank has blamed the economic depression on a "deliberate lack of effective policy action by authorities," according to its fall 2020 report.
saberal

Opinion | The American Rescue Plan's Potential - The New York Times - 0 views

  • Mr. Gordon is senior counselor at Poverty Solutions at the University of Michigan. He was the former director of the Michigan Department of Health and Human Services and a senior official at the Office of Management and Budget under President Obama. Ms. Jolin is the CEO of Results for America, a nonprofit organization that uses data and evidence to improve government performance.
  • President Biden offered a vision of government as an instrument for progress not heard from a president since Lyndon Johnson.
  • A key test comes from more than $450 billion earmarked for states and local governments to spend quickly as part of the $1.9 trillion American Rescue Plan enacted last month. This money may be used to fill budget holes.
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  • The main work will fall to governors and state legislators, mayors and city councils, county executives and commissioners, school superintendents and boards.
  • While they fend off padded proposals from vendors, the normal political process churns toward what policy wonks call the “peanut butter spread” problem — in other words, giving everyone something, yet falling short of lasting change.
  • Putting these principles into action, we’d focus on serving the children who have suffered most from the pandemic. School closures, parents’ job losses and social isolation have set back children in ways we are only starting to understand. Here’s just one stunning example: The share of Virginia’s early elementary students at high-risk for reading failure increased by more than 50 percent this fall, with the biggest increase seen among children who are Black, Latino, or poor
  • Rescue Plan dollars can meet all these challenges. Start with lead: As part of his infrastructure plan, Mr. Biden has committed to eliminating all lead service pipes. But there’s no reason to wait for that bill to pass, and we can’t focus on pipes alone. In addition to some nine million U.S. homes with lead service lines, 24 million homes (built before 1978), including four million with young children, have lead-based paint hazards. Lead exposure in children — from inhaling the dust or eating the paint — may lead to reductions in educational outcomes and potentially criminal behavior. This is a perfect use of Rescue Plan dollars: one-time, proven impact and huge results for those at greatest risk.
  • We know these connections are crucial so families get the help they need when they need it. The platform also generates data essential to determining the results investments are getting.
Javier E

Natural Gas, America's No. 1 Power Source, Already Has a New Challenger: Batteries - WSJ - 0 views

  • Vistra Corp. owns 36 natural-gas power plants, one of America’s largest fleets. It doesn’t plan to buy or build any more. Instead, Vistra intends to invest more than $1 billion in solar farms and battery storage units in Texas and California as it tries to transform its business to survive in an electricity industry being reshaped by new technology.
  • A decade ago, natural gas displaced coal as America’s top electric-power source, as fracking unlocked cheap quantities of the fuel. Now, in quick succession, natural gas finds itself threatened with the same kind of disruption, only this time from cost-effective batteries charged with wind and solar energy.
  • Natural-gas-fired electricity represented 38% of U.S. generation in 2019
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  • Wind and solar generators have gained substantial market share, and as battery costs fall, batteries paired with that green power are beginning to step into those roles by storing inexpensive green energy and discharging it after the sun falls or the wind dies.
  • President Biden is proposing to extend renewable-energy tax credits to stand-alone battery projects—installations that aren’t part of a generating facility—as part of his $2.3 trillion infrastructure plan, which could add fuel to an already booming market for energy storage.
  • renewables have become increasingly cost-competitive without subsidies in recent years, spurring more companies to voluntarily cut carbon emissions by investing in wind and solar power at the expense of that generated from fossil fuels.
  • the specter of more state and federal regulations to address climate change is accelerating the trend.
  • the combination of batteries and renewable energy is threatening to upend billions of dollars in natural-gas investments, raising concerns about whether power plants built in the past 10 years—financed with the expectation that they would run for decades—will become “stranded assets,” facilities that retire before they pay for themselves.
  • as batteries help wind and solar displace traditional power sources, some investors view the projects with caution, noting that they, too, could become victims of disruption in coming years, if still-other technological advances yield better ways to store energy.
  • most current batteries can deliver power only for several hours before needing to recharge. That makes them nearly useless during extended outages.
  • Duke Energy Corp. , a utility company based in Charlotte, N.C., that supplies electricity and natural gas in parts of seven states, is still looking to build additional gas-fired power plants. But it has started to rethink its financial calculus to reflect that the plants might need to pay for themselves sooner, because they might not be able to operate for as long.
  • To remedy that, Duke in public filings said it is considering shortening the plants’ expected lifespan from about 40 years to 25 years and recouping costs using accelerated depreciation, an accounting measure that would let the company write off more expenses earlier in the plants’ lives
  • It may also consider eventually converting the plants to run on hydrogen, which doesn’t result in carbon emissions when burned.
  • Much of the nation’s gas fleet, on the other hand, is relatively young, increasing the potential for stranded costs if widespread closures occur within the next two decades.
  • Gas plants that supply power throughout the day face the biggest risk of displacement. Such “baseload” plants typically need to run at 60% to 80% capacity to be economically viable, making them vulnerable as batteries help fill gaps in power supplied by solar and wind farms.
  • Today, such plants average 60% capacity in the U.S., according to IHS Markit, a data and analytics firm. By the end of the decade, the firm expects that average to fall to 50%, raising the prospect of bankruptcy and restructuring for the lowest performers.
  • “It’s just coal repeating itself.”
  • It took only a few years for inexpensive fracked gas to begin displacing coal used in power generation. Between 2011, shortly after the start of the fracking boom, and 2020, more than 100 coal plants with 95,000 megawatts of capacity were closed or converted to run on gas, according to the EIA. An additional 25,000 megawatts are slated to close by 2025.
  • Batteries are most often paired with solar farms, rather than wind farms, because of their power’s predictability and because it is easier to secure federal tax credits for that pairing.
  • Already, the cost of discharging a 100-megawatt battery with a two-hour power supply is roughly on par with the cost of generating electricity from the special power plants that operate during peak hours. Such batteries can discharge for as little as $140 a megawatt-hour, while the lowest-cost “peaker” plants—which fire up on demand when supplies are scarce—generate at $151 a megawatt-hour, according to investment bank Lazard.
  • Solar farms paired with batteries, meanwhile, are becoming competitive with gas plants that run all the time. Those types of projects can produce power for as little as $81 a megawatt-hour, according to Lazard, while the priciest of gas plants average $73 a megawatt-hour
  • Even in Texas, a state with a fiercely competitive power market and no emissions mandates, scarcely any gas plants are under construction, while solar farms and batteries are growing fast. Companies are considering nearly 88,900 megawatts of solar, 23,860 megawatts of wind and 30,300 megawatts of battery storage capacity in the state, according to the Electric Reliability Council of Texas. By comparison, only 7,900 megawatts of new gas-fired capacity is under consideration.
  • California last summer experienced the consequences of quickly reducing its reliance on gas plants. In August, during an intense heat wave that swept the West, the California grid operator resorted to rolling blackouts to ease a supply crunch when demand skyrocketed. In a postmortem published jointly with the California Public Utilities Commission and the California Energy Commission, the operator identified the rapid shift to solar and wind power as one of several contributing factors.
  • Mr. Morgan, who has closed a number of Vistra’s coal-fired and gas-fired plants since becoming CEO in 2016, said he anticipates most of the company’s remaining gas plants to operate for the next 20 years.
  • Quantum Energy Partners, a Houston-based private-equity firm, in the last several years sold a portfolio of six gas plants in Texas and three other states upon seeing just how competitive renewable energy was becoming. It is now working to develop more than 8,000 megawatts of wind, solar and battery projects in 10 states.
  • “We pivoted,” said Sean O’Donnell, a partner in the firm who helps oversee the firm’s power investments. “Everything that we had on the conventional power side, we decided to sell, given our outlook of increasing competition and diminishing returns.”
Javier E

Opinion | White Riot - The New York Times - 0 views

  • how important is the frustration among what pollsters call non-college white men at not being able to compete with those higher up on the socioeconomic ladder because of educational disadvantage?
  • How critical is declining value in marriage — or mating — markets?
  • How toxic is the combination of pessimism and anger that stems from a deterioration in standing and authority? What might engender existential despair, this sense of irretrievable loss?
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  • How hard is it for any group, whether it is racial, political or ethnic, to come to terms with losing power and status? What encourages desperate behavior and a willingness to believe a pack of lies?
  • I posed these questions to a wide range of experts. This column explores their replies.
  • While most acute among those possessing high status and power, Anderson said,People in general are sensitive to status threats and to any potential losses of social standing, and they respond to those threats with stress, anxiety, anger, and sometimes even violence
  • White supremacy and frank racism are prime motivators, and they combined with other elements to fuel the insurrection: a groundswell of anger directed specifically at elites and an addictive lust for revenge against those they see as the agents of their disempowerment.
  • It is this admixture of factors that makes the insurgency that wrested control of the House and Senate so dangerous — and is likely to spark new forms of violence in the future.
  • The population of U.S. Citizens who’ve lost the most power in the past 40 years, who aren’t competing well to get into college or get high paying jobs, whose marital prospects have dimmed, and who are outraged, are those I believe were most likely to be in on the attack.
  • The terrorist attacks on 9/11, the Weatherman bombings in protest of the Vietnam War, ethnic cleansing in Bosnia, or the assassination of abortion providers, may be motivated by different ideological beliefs but nonetheless share a common theme: The people who did these things appear to be motivated by strong moral conviction. Although some argue that engaging in behaviors like these requires moral disengagement, we find instead that they require maximum moral engagement and justification.
  • “lower class individuals experience greater vigilance to threat, relative to high status individuals, leading them to perceive greater hostility in their environment.”
  • This increased vigilance, Brinke and Keltner continue, createsa bias such that relatively low socio-economic status individuals perceive the powerful as dominant and threatening — endorsing a coercive theory of power
  • there is evidence that individuals of lower social class are more cynical than those occupying higher classes, and that this cynicism is directed toward out-group members — that is, those that occupy higher classes.
  • Before Trump, many of those who became his supporters suffered from what Carol Graham, a senior fellow at Brookings, describes as pervasive “unhappiness, stress and lack of hope” without a narrative to legitimate their condition:
  • When the jobs went away, families fell apart. There was no narrative other than the classic American dream that everyone who works hard can get ahead, and the implicit correlate was that those who fall behind and are on welfare are losers, lazy, and often minorities.
  • What, however, could prompt a mob — including not only members of the Proud Boys and the Boogaloo Bois but also many seemingly ordinary Americans drawn to Trump — to break into the Capitol?
  • One possible answer: a mutated form of moral certitude based on the belief that one’s decline in social and economic status is the result of unfair, if not corrupt, decisions by others, especially by so-called elites.
  • There is evidence that many non-college white Americans who have been undergoing what psychiatrists call “involuntary subordination” or “involuntary defeat” both resent and mourn their loss of centrality and what they perceive as their growing invisibility.
  • violence is:considered to be the essence of evil. It is the prototype of immorality. But an examination of violent acts and practices across cultures and throughout history shows just the opposite. When people hurt or kill someone, they usually do it because they feel they ought to: they feel that it is morally right or even obligatory to be violent.
  • “Most violence,” Fiske and Rai contend, “is morally motivated.”
  • A key factor working in concert to aggravate the anomie and disgruntlement in many members of Trump’s white working-class base is their inability to obtain a college education, a limitation that blocks access to higher paying jobs and lowers their supposed “value” in marriage markets.
  • In their paper “Trends in Educational Assortative Marriage From 1940 to 2003,” Christine R. Schwartz and Robert D. Mare, professors of sociology at the University of Wisconsin and the University of California-Los Angeles, wrote that the “most striking” data in their research, “is the decline in odds that those with very low levels of education marry up.”
  • there isvery consistent and compelling evidence to suggest the some of what we have witnessed this past week is a reflection of the angst, anger, and refusal to accept an “America”’ in which White (Christian) Americans are losing dominance, be it political, material, and/or cultural. And, I use the term dominance here, because it is not simply a loss of status. It is a loss of power. A more racially, ethnically, religiously diverse US that is also a democracy requires White Americans to acquiesce to the interests and concerns of racial/ethnic and religious minorities.
  • In this new world, Federico argues, “promises of broad-based economic security” were replaced by a job market whereyou can have dignity, but it must be earned through market or entrepreneurial success (as the Reagan/Thatcher center-right would have it) or the meritocratic attainment of professional status (as the center-left would have it). But obviously, these are not avenues available to all, simply because society has only so many positions for captains of industry and educated professionals.
  • The result, Federico notes, is that “group consciousness is likely to emerge on the basis of education and training” and when “those with less education see themselves as being culturally very different from an educated stratum of the population that is more socially liberal and cosmopolitan, then the sense of group conflict is deepened.”
  • A major development since the end of the “Great Compression” of the 30 years or so after World War II, when there was less inequality and relatively greater job security, at least for white male workers, is that the differential rate of return on education and training is now much higher.
  • Trump, Richeson continued,leaned into the underlying White nationalist sentiments that had been on the fringe in his campaign for the presidency and made his campaign about re-centering Whiteness as what it actually means to be American and, by implication, delegitimizing claims for greater racial equity, be it in policing or any other important domain of American life.
  • Whites in the last 60 years have seen minoritized folks gain more political power, economic and educational opportunity. Even though these gains are grossly exaggerated, Whites experience them as a loss in group status.
  • all the rights revolutions — civil rights, women’s rights, gay rights — have been key to the emergence of the contemporary right wing:As the voices of women, people of color, and other traditionally marginalized communities grow louder the frame of reference from which we tell the story of American is expanding
  • The white male story is not irrelevant but it’s insufficient, and when you have a group of people that are accustomed to the spotlight see the camera lens pan away, it’s a threat to their sense of self. It’s not surprising that QAnon support started to soar in the weeks after B.L.M. QAnon offers a way for white evangelicals to place blame on (fictional) bad people instead of a broken system. It’s an organization that validates the source of Q-Anoners insecurity — irrelevance — and in its place offers a steady source of self-righteousness and acceptance.
  • “compared to other advanced countries caught up in the transition to knowledge society, the United States appears to be in a much more vulnerable position to a strong right-wing populist challenge.”
  • First, Kitschelt noted,The difference between economic winners and losers, captured by income inequality, poverty, and illiteracy rates within the dominant white ethnicity, is much greater than in most other Western countries, and there is no dense welfare state safety net to buffer the fall of people into unemployment and poverty.
  • Another key factor, Kitschelt pointed out, is thatThe decline of male status in the family is more sharply articulated than in Europe, hastened in the U.S. by economic inequality (men fall further under changing economic circumstances) and religiosity (leading to pockets of greater male resistance to the redefinition of gender roles).
  • More religious and less well-educated whites see Donald Trump as one of their own despite his being so obviously a child of privilege. He defends America as a Christian nation. He defends English as our national language. He is unashamed in stating that the loyalty of any government should be to its own citizens — both in terms of how we should deal with noncitizens here and how our foreign policy should be based on the doctrine of “America First.”
  • On top of that, in the United States.Many lines of conflict mutually reinforce each other rather than crosscut: Less educated whites tend to be more Evangelical and more racist, and they live in geographical spaces with less economic momentum.
  • for the moment the nation faces, for all intents and purposes, the makings of a civil insurgency. What makes this insurgency unusual in American history is that it is based on Trump’s false claim that he, not Joe Biden, won the presidency, that the election was stolen by malefactors in both parties, and that majorities in both branches of Congress no longer represent the true will of the people.
  • We would not have Trump as president if the Democrats had remained the party of the working class. The decline of labor unions proceeded at the same rate when Democrats were president as when Republicans were president; the same is, I believe, true of loss of manufacturing jobs as plants moved overseas.
  • President Obama, Grofman wrote,responded to the housing crisis with bailouts of the lenders and interlinked financial institutions, not of the folks losing their homes. And the stagnation of wages and income for the middle and bottom of the income distribution continued under Obama. And the various Covid aid packages, while they include payments to the unemployed, are also helping big businesses more than the small businesses that have been and will be permanently going out of business due to the lockdowns (and they include various forms of pork.
  • “white less well-educated voters didn’t desert the Democratic Party, the Democratic Party deserted them.”
  • nlike most European countries, Kitschelt wrote,The United States had a civil war over slavery in the 19th century and a continuous history of structural racism and white oligarchical rule until the 1960s, and in many aspects until the present. Europe lacks this legacy.
  • He speaks in a language that ordinary people can understand. He makes fun of the elites who look down on his supporters as a “basket of deplorables” and who think it is a good idea to defund the police who protect them and to prioritize snail darters over jobs. He appoints judges and justices who are true conservatives. He believes more in gun rights than in gay rights. He rejects political correctness and the language-police and woke ideology as un-American. And he promises to reclaim the jobs that previous presidents (of both parties) allowed to be shipped abroad. In sum, he offers a relatively coherent set of beliefs and policies that are attractive to many voters and which he has been better at seeing implemented than any previous Republican president.
  • What Trump supporters who rioted in D.C. share are the beliefs that Trump is their hero, regardless of his flaws, and that defeating Democrats is a holy war to be waged by any means necessary.
  • In the end, Grofman said,Trying to explain the violence on the Hill by only talking about what the demonstrators believe is to miss the point. They are guilty, but they wouldn’t be there were it not for the Republican politicians and the Republican attorneys general, and most of all the president, who cynically exaggerate and lie and create fake conspiracy theories and demonize the opposition. It is the enablers of the mob who truly deserve the blame and the shame.
mariedhorne

Opioid Deaths in Canada Were Falling, Then Came Coronavirus - WSJ - 0 views

  • After a public-health push that focused on overdose prevention sites, methadone clinics and counseling services, the number of deaths from opioid overdoses finally began to fall in Canada last year.
  • As cities across Canada locked down, the number of overdose deaths surged, putting the country on track to lose the gains it made last year. Unlike in the U.S., where opioid-related deaths have continued to rise, deaths in Canada fell 13% in 2019, to 3,799. This year they could surpass the record 4,372 deaths reported in 2018, according to the Public Health Agency of Canada.
  • The overdose death toll in Toronto, Canada’s largest city, reached 28 in October, the most in a single-month on record, according to city statistics. As of October, 206 died in 2020, compared with 141 for all of last year.
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  • By June, the province’s chief coroner said fatalities between March and May were 25% higher than the median monthly rates of 2019. The province estimates that, if the number of opioid-related deaths continues to increase at current rates for the rest of the year, 2,271 will die in 2020, a 50% jump from last year.
  • In the U.S., opioid deaths have risen almost continually for three decades and hit a record of more than 72,000 last year, according to federal government projections.
  • In Vancouver, overdose deaths fell almost 40% in 2019 to 247, accounting for much of the overall reduction in Canada. But by October of this year, the city had already surpassed last year’s total, with 291 dead, according to the British Columbia Coroners Service.
Javier E

Davos: Globalism Saved the World and Damned the West - The Atlantic - 0 views

  • In 2016, Manyika co-wrote a landmark report on earnings growth in advanced economies over the previous 20 years. It was a tale of two decades, he said. In the first 10-year period, from 1995 to 2004, wages grew for at least 98 percent of households in just about every advanced economy. But in the second decade, from 2005 to 2014, everything fell apart.
  • “We found inequality, yes. But that was the least interesting thing we found,” Manyika told me. “The more interesting thing was wage stagnation in almost all the advanced economies.”
  • This was an entirely new phenomenon. Wage income declined for the majority of households in France, the Netherlands, the U.K., and Italy. The U.S. had it even worse. Four out of five households saw flat or falling income before accounting for taxes and transfers
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  • Between globalization, the Great Recession, and the not-so-great recovery, the middle class was slammed.
  • they felt it, too. Manyika’s research team asked more than 6,000 people in the United States, the U.K., and France to describe their economic status. Between one-third and 40 percent of respondents in each country felt that their incomes were falling behind. “And these people tended to blame free trade and immigrants for hurting their wages and ruining their culture,”
  • Anti-elite sentiment “has become the most potent political force in Europe,” writes Martin Gurri, author of The Revolt of the Public and the Crisis of Authority in the New Millennium. “It brought Brexit in Britain, electoral defeat to German chancellor Angela Merkel, drove protests in France, shattered so many political coalitions that governed Europe since World War II, and raised to prominence new parties and persons nominally attached to the right or the left but always fractious, sectarian, ‘populist.’”
  • The changing media landscape is part of the story, too
  • In other words, saving the American middle class might take a leftist intervention, but saving the world will also require something very much like free-market globalism
  • iss conference.Right-wing nationalism is the solution that solves nothing. What’s needed instead is a movement that doesn’t just succeed in outraging voters, but actually seeks to use government to address the source of their outrage.
  • some members of the American left seem to be pointing to a compromise: a new system of universal guarantees supported by higher taxes and higher peacetime deficits in this context of a capitalist system
  • Globalization and poor governance created the conditions in which nativist insurgencies can grow. Social networks made it possible for political cults to organize around outrage.
  • any realistic plan to decarbonize the U.S. economy will almost surely require the sort of commercial technological breakthroughs that tend to come from private entrepreneurs tinkering with the products of publicly funded research
  • And to reduce global emissions, the United States will have to share its eco-technology with China, southeastern Asian countries, and African nations, which account for most of the growth in future emissions
  • For all the hatred directed toward the Davos crowd, there will be no economic growth in the West without policies that promote entrepreneurship and innovation.
  • For years government elites could silence political outsiders by denying them an audience. In the late 20th century, the Democratic and Republican Parties were terrifically effective at marshaling elite power to shape public opinion during the presidential-election process. Voters didn’t select candidates at random; rather, as political scientists like to say, “the parties decided” on the favored candidates and used their power to funnel voters toward these insiders.
  • That was before the Cambrian explosion of digital media made it impossible for insiders to control their nomination processes
  • nativist movements are gaining power by opposing the values of openness and empiricism. These nativists have often thrived by arguing that free markets and globalization have impoverished the middle class and destroyed all sense of national identity or sovereignty.
  • “All this has happened chiefly because countries—from China to India to Ethiopia—have adopted more market-friendly policies,” the CNN host Fareed Zakaria wrote in The Washington Post.
  • But there’s a good reason that commentators tend to lump together Trump, Brexit, and other “populists” and “populist” movements: They’re built to oppose rather than lead, and right now it’s fair to say they’re in a shambles, unable to fulfill their nativist promises. In the U.K., Prime Minister Theresa May’s Brexit deal was voted down in humiliating fashion. In the United States, Trump’s record-breaking government shutdown led not to a wall but to declining poll numbers for the president. Both May and Trump had to cancel their appearances at the Sw
  • What’s more, taxing the rich to fund universalist programs directly addresses middle-class insecurities caused by global capitalism—unlike, say, building a giant border wall. Free markets without income security have been a recipe for instability. So have socialist policies that stamp out free markets.
  • At a conference symbolizing the promise of capitalism, every non-plutocrat is fighting for scraps.
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