On the other hand, recent developments such as US gun control reform demonstrate that Democracy (yes, with a capital D) is still the most robust and responsive of all political systems out there. Anyone (be it religious mullahs, or fascist white nationalists) who tells you that “the common people cannot be trusted to govern themselves” are clearly self-interested wannabe-tyrants that ought to be kept away from polite company.
Those of us who are less successful in life tend to imagine – as a means for palliative self-soothing – that those at the top are paying a price in terms of psychological stress, broken relationships, etc. “Wrecked by success” is a popular trope, but it seems that it might just simply not be true!
This ought to be required reading for everyone seriously thinking about how to refit Capitalism for the 21st Century, in a way that promotes social value, and combats the scourge of Inequality. Does it mean that Capitalism can really only be saved by those who scorn its trappings and excesses? Watch this space…
Sometimes mockery and satire is the only way to speak Truth to Power. Yet another gem from Reddit’s “Am I The Asshole” subreddit 😀
FT’s Rana Foroohar argues that we are entering a post-neoliberal age, where the balance between Capital and Labour will begin to tilt towards the latter, after 4 decades of the Thatcher/Reagan consensus. In some senses, Malaysia is already on this trajectory, with recent revisions to minimum wage and other labour-oriented legislation. Will it be enough to stave off the pitchforks, though?
Paul Krugman: “There are always a number of people out there who just can’t accept the idea of fiat money as a technocratic tool of economic management.” #tweet #money #economics
Why regulations are ‘sticky’ and hard to unwind: “Firms typically resist new regulation attempts in order to avoid the corresponding compliance costs. However, once regulations are implemented, compliance costs are often sunk and cannot be recouped. Therefore, existing firms will often resist efforts to remove the very rules they initially fought against, since these regulations become barriers that stand between them and potential competitors who haven’t yet paid the compliance costs. These dynamics all but ensure that there is no influential constituency to support removing regulations once they are enacted.” #regulations #reform #economics #publicinterest
David Rubenstein’s 10 rules for investing in #privateequity funds: “Look at the organisation’s ability to keep people. If… people are always leaving an organisation that is an important indicator.”
“Herschel Walker, the Republican Senate nominee in Georgia who has been a vocal critic of absentee fathers in Black households, acknowledged Tuesday that he has a second son with whom he has little interaction.” #politicians #hypocrisy
“This is not about grammar or spelling errors, but disrespect for the national language. The proposed fine is not to punish but to evoke love and patriotism to the country.” #totalitarianlogic
Marc Andreessen on loving the humanities: “I spent the first 25 years of my life trying to understand how machines work,” Marc says. “Then I spent the second 25 years, so far, trying to figure out how people work. It turns out people are a lot more complicated.” https://conversationswithtyler.com/episodes/marc-andreessen/
