Mustafa Kemal Ataturk (1881–1938) as a young commander in the Ottoman army during the Italo-Turkish wars in modern day Libya. Photo circa 1911. pic.twitter.com/aP9vSTEV4P
— Laocoon of Troy (@LaocoonofTroy) October 23, 2022
Mustafa Kemal Ataturk (1881–1938) as a young commander in the Ottoman army during the Italo-Turkish wars in modern day Libya. Photo circa 1911. pic.twitter.com/aP9vSTEV4P
— Laocoon of Troy (@LaocoonofTroy) October 23, 2022
If you couldn't predict Covid lockdowns would lead to long-term economic issues, then you're not an expert.
— The Robber Baron (@Robber_Baron_) October 23, 2022
If you knew lockdowns would lead to economic issues and you didn't care, then you're not a good person.
A massive amount of pollen falls off a tree.pic.twitter.com/R7FnirOrLw
— Fascinating (@fasc1nate) October 27, 2022
I believe the main difference is that one will see you later and the other will see you in awhile. I could be wrong, I'm not a zoologist. pic.twitter.com/Jwp6gR5JkV
— jim rose circus (@jimrosecircus1) October 22, 2022
nbd, just huge increases in how many american young adults are high or tripping, i'm sure it's fine and progress is leading us to a joyful utopia https://t.co/8gWdDU6Jd9
— Lyman Stone 石來民 🦬🦬🦬 (@lymanstoneky) October 21, 2022
John Smith (baptized 6 January 1580 – 21 June 1631) was an English soldier, explorer, colonial governor, Admiral of New England, and author. He played an important role in the establishment of the colony at Jamestown, Virginia, the first permanent English settlement in America, in the early 17th century. He was a leader of the Virginia Colony between September 1608 and August 1609, and he led an exploration along the rivers of Virginia and the Chesapeake Bay, during which he became the first English explorer to map the Chesapeake Bay area. Later, he explored and mapped the coast of New England. He was knighted for his services to Sigismund Báthory, Prince of Transylvania, and his friend Mózes Székely.Jamestown was established on May 14, 1607. Smith trained the first settlers to work at farming and fishing, thus saving the colony from early devastation. He publicly stated, "He that will not work, shall not eat", alluding to 2 Thessalonians 3:10. Harsh weather, lack of food and water, the surrounding swampy wilderness, and attacks from Native Americans almost destroyed the colony. With Smith's leadership, however, Jamestown survived and eventually flourished. Smith was forced to return to England after being injured by an accidental explosion of gunpowder in a canoe.Smith's books and maps were important in encouraging and supporting English colonization of the New World. Having named the region of New England, he stated: "Here every man may be master and owner of his owne labour and land. ...If he have nothing but his hands, he may...by industries quickly grow rich." Smith died in London in 1631.Smith's exact birth date is unclear. He was baptized on 6 January 1580 at Willoughby, near Alford, Lincolnshire, where his parents rented a farm from Lord Willoughby. He claimed descent from the ancient Smith family of Cuerdley, Lancashire, and was educated at King Edward VI Grammar School, Louth, from 1592 to 1595.Smith set off to sea at age 16 after his father died. He served as a mercenary in the army of Henry IV of France against the Spaniards, fighting for Dutch independence from King Philip II of Spain. He then went to the Mediterranean where he engaged in trade and piracy, and later fought against the Ottoman Turks in the Long Turkish War. He was promoted to a cavalry captain while fighting for the Austrian Habsburgs in Hungary in the campaign of Michael the Brave in 1600 and 1601. After the death of Michael the Brave, he fought for Radu Șerban in Wallachia against Ottoman vassal Ieremia Movilă.Smith reputedly killed and beheaded three Ottoman challengers in single-combat duels, for which he was knighted by the Prince of Transylvania and given a horse and a coat of arms showing three Turks' heads. However, in 1602 he was wounded in a skirmish with the Crimean Tatars, captured, and sold as a slave. He claimed that his master was a Turkish nobleman who sent him as a gift to his Greek mistress in Constantinople, Charatza Tragabigzanda, who fell in love with Smith. He then was taken to the Crimea, where he escaped from Ottoman lands into Muscovy, then on to the Polish–Lithuanian Commonwealth before travelling through Europe and North Africa, returning to England in 1604.
During the voyage, Smith was charged with mutiny, and Captain Christopher Newport (in charge of the three ships) had planned to execute him. These events happened approximately when the expedition stopped in the Canary Islands for resupply of water and provisions. Smith was under arrest for most of the trip. However, they landed at Cape Henry on 26 April 1607 and unsealed orders from the Virginia Company designating Smith as one of the leaders of the new colony, thus sparing him from the gallows.
Fourteen years ago, when Bernie Madoff’s massive hedge fund collapsed, the New York Times and other elite media aggressively dug into what had happened - and why and how regulators had failed to stop it. I know - I was part of the Times team.By this point, business reporters were experienced covering financial collapse. Along with al Qaeda and Iraq, Wall Street’s various meltdowns were the story of the 2000s, starting with the technology stock crash in 2000, running through Enron and the other giant accounting frauds, and culminating in the bank crisis and Madoff.The most crucial element in covering these failures and frauds:Don’t believe what they tell you.Financial companies depend on leverage - borrowing from other institutions against their customer deposits. Leverage inherently means risk. Even a solvent company can break if too many customers or counterparties want their money back all at once. Management has to make sure that doesn’t happen; it has to keep confidence high at any cost.Frauds depend on opaque accounting, accounting that no one from the outside can challenge or in some cases even understand. Complexity is the grifter’s friend.Yet at its heart the fraud always runs the same way: cash leaves the balance sheet, and assets that aren’t really assets take its place. Those “assets” can be crypto tokens or prebooked profits on future electricity sales or capitalized software development costs or almost anything else. What they have in common is that they cannot be turned back into cash quickly - or sometimes at all.Thus managements at complex financial companies have both the motive and the opportunity to spin, if not outright lie.And if a collapse comes, they have every reason to hide their roles in what’s happened, and to blame malign outside forces for their problems - everything would have been fine if I’d just had a little more time, time to unwind my losing position, time for my investment to recover, time to raise more cash, time to flee to Argentina…—This is financial and investigative reporting 101.But the Times and other elite media outlets have failed miserably at it in the case of FTX, the cryptocurrency exchange that collapsed and filed for bankruptcy last week, and Sam Bankman-Fried, FTX’s founder and majority owner.
In 1922, neighbours heard screams coming from a house in the affluent LA area of Layfette Park. When the police arrived, they found Fred Oesterreich dead & his wife Dolly locked inside in a closet. They were certain Dolly had done it, but they had no idea how.
— Whores of Yore (@WhoresofYore) October 21, 2022
Thread pic.twitter.com/b4IJ044qj9
From Progress and possibility by Christopher Hobson. The subheading is Musil's millipede.
This sense of progress is not pleasant. It reminds you, in the most extreme way, of a dream in which you are seated on a horse and cannot get off, because the horse never stands still. You would gladly take pleasure in progress, if only it took a pause. If only we could stop for a moment on our high horse, look back, and say to the past: Look where I am now! But already the uncanny process continues, and after experiencing it several times, you begin to feel queasy in the stomach with those four strange legs trotting beneath you, constantly carrying you forward.
'Art Anniversary'
Progress itself is not something that unfolds in a single line. Every present period is simultaneously now and yet millennia old. This millipede moves on political, economic, cultural, biological, and countless other legs, each of which has a different tempo and rhythm.
'Mind and Experience: Notes for Readers Who Have Eluded the Decline of the West'
These are two attempts by Musil to describe an idea the Great War had left in tatters. Both evoke similar themes - a creature moving, doing so largely of its own volition and at its own pace - but each emphasises slightly different features. The imagery of the horse captures that feeling of being carried by a force outside one's control; jerky, uneven, uncomfortable. The mild sense of vertigo that one gets when facing a world relentlessly moving forward, combined with the unreality that exists in a dream. With the millipede, he pointed to the difficulties of providing clear explanations:
One simply explains the World War or our collapse first by this, then by that cluster of causes; but this is deceptive. Just as fraudulent as explaining a simple physical event by a chain of causes. In reality, even in the first links of the chain of causality the causes have already flowed and dissolved beyond the scope of our vision.
Musil was not denying the presence of causes, but doubting our capacity to comprehend all of what was present and determinative. Indeed, he questioned those who presented the Great War as a decisive break, and suggested that, ‘everything that has appeared in the War and after the War was already there.’ It is not just elephants that blind men struggle with, we feel different parts of a millipede, and then guess.Throughout his work, Musil searched for what can be sensed but not fully grasped, what exists at the edge of our comprehension. In The Man Without Qualities he wrote, 'however understandable and self-contained everything seems, that is accompanied by an obscure feeling that it is only half the story.' Awareness without full understanding, appreciating enough to know something is missing, but not being able to precisely locate what that is.
There is a Zen parable in which two monks, one old and one young, are walking through a forest. They come upon a rich man by a stream. The rich man says to the older monk, “Monk, carry me across that stream so I don’t get my clothes muddy.” The young monk begins to protest but the older one quiets him and carries the rich man on his back across the stream.The monks go their way, and the rich man goes his.After a few hours walking in silence, the old monk says, “It is a beautiful day to walk in the forest. Days like this are ones you must cherish.”The young monk replies, “That rich man was terribly rude to you. I can’t believe that you agreed to carry him across the stream. He was younger and stronger than you.”The old monk says, “I put that man down hours ago, why do you keep carrying him.”Last week STAT published an article titled How infectious disease experts are responding to Covid nearly three years in. Vinay Prasad published a hilarious screed about this article on his Observations and Thoughts Substack and cross-posted it here.[i] His take is definitely worth a read.In the STAT article, the author admitted that “many people appear to have given up trying to avoid the SARS-CoV-2 virus. Restaurants are packed, airports are hopping. Once-ubiquitous masks are now an increasingly rare sight.” He reached out to “epidemiologists, virologists, immunologists, and related experts” with a series of “yes” or “no” questions and then published the data of the 34 who replied. These 34 people had definitely NOT given up on trying to avoid SARS-CoV-2I should have read the article and Vinay’s take and left it behind as the old monk left the rich man, but the article has been bothering me.[ii] I hope that writing about it will allow me to forget it.
Questions I've been asked:
— Antidotal (@JohnFMiller86) October 22, 2022
Why don't you link your iPhone to iCloud?
Why don't you have Alexa?
Why don't you use Google Drive or Docs?
Why don't you use IM apps?
Why don't you connect your phone to [in car media player]?
A. https://t.co/O1LNDheWpK
From what I can tell, the first freshwater angelfish genome was just published by a high schooler using a MinION to sequence the DNA of his dead pet: https://t.co/PVTPL1fcSb
— Rich Abdill (@richabdill) October 18, 2022
Important Weekend Reminder: pic.twitter.com/61kzZXAvx5
— Andrew Malcolm (@AHMalcolm) October 21, 2022
Dominus vobiscum (Latin: "The Lord be with you") is an ancient salutation and blessing traditionally used by the clergy in the Masses of the Catholic Church and other liturgies, as well as liturgies of other Western Christian denominations, such as Lutheranism, Anglicanism and Methodism.The response is Et cum spiritu tuo, meaning "And with your spirit." Some English translations, such as Divine Worship: The Missal and the Anglican Book of Common Prayer, translate the response in the older form, "And with thy spirit." Eastern Orthodox churches also follow this usage, although the episcopal and presbyteral blessing are one and the same; in Greek, Εἰρήνη πᾶσι, eirene pasi, "peace to all." In the Roman Rite, this usage is only for the bishop, who says Pax vobiscum. The ICEL translation presently in use for Roman Catholic Masses in English has "And with your spirit."
Ultimately the field is tilted to the worldview of the white men who dominate it.
We compare the online reviews of 221 “Questionable” Illinois and Indiana physicians with multiple paid medical malpractice claims and disciplinary sanctions with matched control physicians with clean records. Across five prominent online rating services, we find small, mostly insignificant differences in star ratings and written reviews for Questionable versus control physicians. Only one rating service (Healthgrades) reports on paid medical malpractice claims and disciplinary actions and it misses more than 90% of these actions. We also evaluate the online ratings of 171 Illinois hospitals and find that their ratings are largely uncorrelated with the share of hospital-affiliated physicians with paid medical malpractice claims and disciplinary sanctions. Online ratings have limited utility in helping patients avoid physicians with troubled medical malpractice and disciplinary records, and steering patients away from hospitals at which more physicians have paid medical malpractice claims and disciplinary sanctions.
There are far too many great writers on this list for us to brush away their Stevenson appreciation. So what’s going on here? It cannot be that Stevenson is too difficult for the literary establishment, as he’s also popular with average readers. I suspect it is more nearly the opposite problem—Stevenson is too pleasurable. Some critics wrongly equate greatness with difficulty.
Perseus with the head of Medusa, c. 1571, Benvenuto Cellini pic.twitter.com/JpRo86PH4o
— Academia Aesthetics (@AcademiaAesthe1) October 20, 2022
Considering that people can be classified in hundreds, perhaps thousands of ways, a classless society is a practical impossibility. The desire for a classless society is a desire for uniformity. It's the desire for a gray, lifeless society of barely alive people. pic.twitter.com/5476s0uYYr
— John Galt's Plumber ... free-speech absolutist (@MDSebach) October 21, 2022
Left: how humans see starlings.
— Massimo (@Rainmaker1973) November 14, 2022
Right: how starlings may see each other - with bolder markings and more colour
The amazing world of UV vision, seen through the eyes of…. birds.
[read more: https://t.co/2SH6NS2DP3] pic.twitter.com/ZjiHekzGEo
Stunning roll cloud over Lake Michigan captured by Ken Temple. pic.twitter.com/BlPeNvDGIB
— Fascinating (@fasc1nate) October 18, 2022
Do you support banning all private gun ownership in America?
Do you support restricting gun ownership to only the government?
This is a PSA to all male Democrat staffers: If a really hot chick goes on a few dates with you, there's a 75% chance that she works for James O'Keefe 😂😂 pic.twitter.com/Hx8kPitwrS
— Greg Price (@greg_price11) October 21, 2022
Studies of robotic surgeries have found mixed effects, but this cool job market paper suggests a reason: they mostly benefit bad surgeons (who also don’t use them enough)
— Ethan Mollick (@emollick) October 23, 2022
Low-skill surgeons are much worse than good ones, but robots close the gap by 50%. https://t.co/QmHuINOgwT pic.twitter.com/yR1pm8re5r
Customers are not the only keys to success.
— Ethan Mollick (@emollick) November 13, 2022
Firms are embedded in webs of connection. They need to be seen as legitimate by other firms who will use their solutions; by policy makers who will write rules to govern them; by employees who want to build careers; by the public, etc. pic.twitter.com/GNEuqnsU4p
I am sure that in estimating every man’s value either in private or public life, a pure integrity is the quality we take first into calculation, and that learning and talents are only the second.
Integrity without knowledge is weak and useless, and knowledge without integrity is dangerous and dreadful.
If the German government had not sent Lenin across its territory and back to Russia in a sealed train in early 1917, we might today regard Marx as a not very important nineteenth-century philosopher, sociologist, economist, and political theorist. If he had not had the good (or bad) luck to be treated as the source of near-divine wisdom by the ideologists of the Communist Party of the Soviet Union, we might treat his economics as an interesting offshoot of the Ricardian system, and his historical theories as an interesting variation on themes first sketched by Hegel, Saint-Simon, Guizot, and Comte. Political theorists would complain, as I shall, that his political theory is sketchy and unfinished. They might explain his lurchings between cynicism and utopianism as a reaction to the vagaries of his fellow radicals, or a consequence of the fact that Marx was a frustrated academic with a professor’s incapacity to finish anything properly, a man of many deep insights who was unable to complete any project before being distracted by the next.
It is hard to overstate how manic, primal and unhinged is the reaction of corporate media employees to the mere prospect that new Twitter owner Elon Musk may restore a modicum of greater free speech to that platform. It was easy to predict — back when Musk was merely toying with the idea of buying Twitter and loosening some of its censorship restrictions — that there would be an all-out attack from Western power centers if he tried. Online censorship has become one of the most potent propaganda weapons they possess, and there is no way they will allow anyone to dilute it even mildly without attempting to destroy them. Even with that expectation in place of what was to come, the liberal sector of the corporate media (by far the most dominant media sector) really outdid itself when it came to group-think panic, rhetorical excess, and reckless and shrill accusations.In unison, these media outlets decreed that not only would greater free speech on Twitter usher in the usual parade of horribles they trot out when demanding censorship — disinformation, hate speech, attacks on the “marginalized,” etc. etc. — but this time they severely escalated their rhetorical hysteria by claiming that Musk would literally cause mass murder by permitting a broader range of political opinion to be aired. The Washington Post's Taylor Lorenz even warned of supernatural demons that would be unleashed by these new free speech policies, as she talked to a handful of obviously neurotic pro-censorship “experts” and then wrote about these thinly disguised therapy sessions with those neurotics under this headline: “‘Opening the gates of hell’: Musk says he will revive banned accounts.”But the self-evident absurdity of this laughable meltdown and the ease of mocking it should not obscure that there are lurking within these episodes some genuinely insidious and serious dangers. These preposterous media employees are just the sideshow. But what they are doing, unwittingly or otherwise, is laying the groundwork for far less frivolous and more serious people to use the attacks on Musk to further fortify the regime of censorship they have been constructing: the limitlessly demonizing language heaped on him, the success they have already had in driving away many if not most corporate advertisers from Twitter, the threats to once again abuse the monopoly power of Google and Apple to destroy Twitter or at least cripple it if Musk does not comply with their censorship orders (as they succeeded in doing last year to the free speech site Parler when it became the most-downloaded app in the country and refused to censor on demand).
Ancient vessel from Iran, dated ca. 1000-800 BCE. Brooklyn Museum. 2015.65.28 https://t.co/zBkarNnhac pic.twitter.com/qWoRSZ7fCG
— Angela O'Brien (@GrecianGirly) October 20, 2022
"the world is stochastic...Even if you know for sure that a choice will work out for you say, 80% of the time, that means, by definition, that the world is going to hand you a bad outcome 20% of the time." https://t.co/AqpSnx7siC pic.twitter.com/sLcmpnHbVN
— Rob Henderson (@robkhenderson) October 21, 2022
Watching Twitter Public Health ‘experts’ melt down over the last two days reminds me of a problem we used to have in aviation: unchecked authority & ego.
— KC-10 Driver ✈️ 👨✈️ B-737 Wrangler (@MCCCANM) November 26, 2022
We worked VERY hard to get rid of it. Some may wish to take notes…a 🧵
1/13 pic.twitter.com/a3Xsf33Qwq
Baby pangolins are called pangopups, they ride on the slope of their mothers tail, this way she can curl up in a ball around her baby to protect it, a mother acting as a shield for her infant
— Science girl (@gunsnrosesgirl3) October 18, 2022
pic.twitter.com/lLgC4ZO2Rb
Uncanny. pic.twitter.com/zQpS6sTvhd
— Kobzar ✙🇺🇦🇨🇦 🍉 (@CanadianKobzar) October 20, 2022
Easy to forget that the 1973-74, 1981-82, 2000-02, and 2007-09 bear markets all unfolded AFTER the initial Fed pivot. The '73-74 pivot was short lived amid high inflation. Unless market internals are favorable (read my stuff), pivots amid recession risk say "something just broke" pic.twitter.com/3lgYbG1WWq
— John P. Hussman, Ph.D. (@hussmanjp) October 21, 2022
There is no art which one government sooner learns of another than that of draining money from the pockets of the people.
According to evolutionary theories, markets may foster an internalized and universalist prosociality because it supports market-based cooperation. This paper uses the cultural folklore of 943 pre-industrial ethnolinguistic groups to show that a society’s degree of market interactions, proxied by the presence of intercommunity trade and money, is associated with the cultural salience of (1) prosocial behaviour, (2) interpersonal trust, (3) universalist moral values and (4) moral emotions of guilt, shame and anger. To provide tentative evidence that a part of this correlation reflects a causal effect of market interactions, the analysis leverages both fine-grained geographic variation across neighbouring historical societies and plausibly exogenous variation in the presence of markets that arises through proximity to historical trade routes or the local degree of ecological diversity. The results suggest that the coevolutionary process involving markets and morality partly consists of economic markets shaping a moral system of a universalist and internalized prosociality.
The relationship between market participation and moral values is the object of a long-lasting debate in economics, yet field evidence is mainly based on cross-cultural studies. We conduct rule-breaking experiments in 13 villages across Greenland (N = 543), where stark contrasts in market participation within villages allow us to examine the relationship between market participation and moral decision-making, holding village-level factors constant. First, we document a robust positive association between market participation and moral behaviour towards anonymous others. Second, market-integrated participants display universalism in moral decision-making, whereas non-market participants make more moral decisions towards co-villagers. A battery of robustness tests confirms that the behavioural differences between market and non-market participants are not driven by socioeconomic variables, childhood background, cultural identities, kinship structure, global connectedness and exposure to religious and political institutions.
The expansion of markets has generated significant material benefits. Yet some worry that this increase in wealth has come at a significant moral cost. Markets may crowd out or even corrupt existing moral values, causing moral deterioration. We test this hypothesis using both fixed effects and matching methods to estimate the impact of market institutions on a society's moral values. Contrary to the deterioration hypothesis, we find that market-oriented societies have a greater aversion to unethical behavior, higher levels of trust, and are not significantly associated with lower levels of morality under any model specification. Furthermore, we find that becoming more market oriented does not cause a significant reduction in a society's moral values. Together, our results suggest that being or becoming more market oriented does not cause moral deterioration.
(Tail) risk management is about surviving, not getting into irreversible trouble. It isn't about understanding. It's about surviving.Science is a collective procedure to get closer to the truth.Do not confuse the two, as @WHO and @CDCgov did in 2020!Risk management supersedes science.
Publicity is justly commended as a remedy for social and industrial diseases. Sunlight is said to be the best of disinfectants; electric light the most efficient policeman.
Bronze Head of the Cat goddess Bastet with amber inlays for eyes. Egypt, 26th dynasty. ~600 BC. Collection: Carlsberg Glyptotek Museum, Copenhagen, Denmark. Photo: Stock Photo / Alamy. pic.twitter.com/SY6RJArvqh
— Archaeology & Art (@archaeologyart) October 20, 2022
Somehow I missed that when Biden announced a pardon for everyone in prison for federal marijuana possession…
— Austen Allred (@Austen) October 20, 2022
That pardon applies to literally no one? pic.twitter.com/B4zL7I3Rgh
Extremely rare sighting of a pelagic octopus. They spend their entire lifecycle in the open ocean, and the first live male was only sighted in 2002!
— Fascinating (@fasc1nate) October 17, 2022
IG: JacintaShackletonpic.twitter.com/7xpFgcM2MN
You've nailed it mate. No heating, no lights. You've successfully decarbonised the hall that you are in. Let us know how it's working out for you, and see if you can join the dots. https://t.co/0pcg3nqTSV
— MoltoVinos (@IncognitoMV) October 20, 2022
Why you fool, it's the educated reader who CAN be gulled. All our difficulty comes with the others. When did you meet a workman who believes the papers? He takes it for granted that they're all propaganda and skips the leading articles. He buys his paper for the football results and the little paragraphs about girls falling out of windows and corpses found in Mayfair flats. He is our problem. We have to recondition him. But the educated public, the people who read the high-brow weeklies, don't need reconditioning. They're all right already. They'll believe anything.
Still one of the most epic minutes in television. pic.twitter.com/uEKltp5Cmo
— An0maly (@LegendaryEnergy) October 20, 2022
In 1833, Britain used 40% of its national budget to buy freedom for all slaves in the Empire. Britain borrowed such a large sum of money for the Abolition Act that it wasn’t paid off until 2015. That means living British citizens helped pay for the ending of the slave trade. 🇬🇧 pic.twitter.com/WUwJYeiaPe
— Proud British Subject (@BritishHonour) October 27, 2022
is this still a dangerous time to tell the truth in America, or are we not doing that anymore? https://t.co/SIweEfBJ2W
— T. Becket Adams (@BecketAdams) October 19, 2022
“Strategy is about making choices, trade-offs; it’s about deliberately choosing to be different.”~ Michael Porter pic.twitter.com/bEaakvsb82
— Tansu YEĞEN (@TansuYegen) October 19, 2022
An oasis in the Saharan Desert. Photo: Juergen Buettner pic.twitter.com/l7Zk0KnEWx
— Fascinating (@fasc1nate) October 17, 2022
A human being should be able to change a diaper, plan an invasion, butcher a hog, conn a ship, design a building, write a sonnet, balance accounts, build a wall, set a bone, comfort the dying, take orders, give orders, cooperate, act alone, solve equations, analyze a new problem, pitch manure, program a computer, cook a tasty meal, fight efficiently, die gallantly. Specialization is for insects.
The PMC exists somewhere between what we think of as the traditional working class and the ruling class. While they aren’t capitalists and don't own the means of production, they do play a big role in upholding and extending capitalism’s reign.In other words, managers are a specific type of employee that are materially on the side of labor—but symbolically on the side of capital.What Ehrenreich noted was a bifurcation: On the higher end more commercial PMCs were peeling off to join the elite tier of wealthy CEOs and managers, while on the lower end the PMCs were suffering from a collapse of many of their preexisting professions (e.g. academics, journalists, etc).And so the academics and journalists had to make a choice: they could either join the traditional working class to fight against the capitalists or they could join the capitalists against the working class in the hope of getting rich in the process.
[snip]Activism became not just a social philosophy, but an elite status marker. As David Brooks once put it, “You have to possess copious amounts of cultural capital to feel comfortable using words like intersectionality, heteronormativity, cisgender, problematize, triggering, and Latinx”. More specifically, you have to go to college to learn those words, which excludes two-thirds of the country.Activism also became a strategy for professional advancement beyond college. By calling out the privilege and moral failings of those above them in the corporate pecking order, young elites became able to intimidate Boomer administrators and usurp power from them.This isn’t all just ideological posturing, it’s also a practical necessity. The truth is that we have too many college educated people without technical skills who expect high-status and high-paying jobs and there simply aren’t enough jobs for them. So the posturing isn’t only a way to signal high-status, it’s also a way to ensure they continue to hold an elite job.[snip]Summarizing Elite Overproduction theory: The problem with having too many elites is that we don’t have enough cushy jobs for them. As the number of elites expands, there's a growing pressure to find roles for them so that they can keep their luxurious lifestyles. Thus, the state steps in to create roles for these excess elites that are appropriate for their status. The state can’t create jobs for all of them, so the private sector is expected to step in as well, hence the explosion of administrative jobs in companies.As the elites continue to expand and the state struggles to find roles for them all, we begin to see intense competition for the few positions that exist. In the face of losing out on the money and status they expected to get, elites become very angry and turn on each other, creating intra-elite conflict.One signal of intra-elite conflict is an emphasis on credentialing. In the old days when the majority of the elite youth could expect to inherit their parents’ wealth and status, they didn't bother to go to university. But in the wake of elite over-expansion, we watch them now fight for credentials as a way of distinguishing themselves.
Malcolm Kyeyune has an interesting thesis around all this: He noticed that many jobs in the professional class — academics, journalists, activists, bankers, consultants, middle-managers — lack clear accountability. They claim to hold others accountable but have little accountability themselves, neither to the market nor the electorate. The most ambitious people sometimes self-select out by becoming entrepreneurs. Conversely, bureaucracies attract people (on average) who conform, which means that these bureaucracies become increasingly run by people who prioritize conformism over quality. You see this in Corporate America too, where the organization is increasingly influenced by HR and PR.
[snip]What this means is that we've created a huge surplus class of administrators in our imperial machine. And there's simply not enough things for them to do since all the manufacturing is done somewhere else. So one way to view some of these activist-oriented jobs is to see them as a make-work program for elites. There is a whole web of managerial technocrats, government regulators, activists, people who run media orgs, NGOs, etc that helps serve this goal. To be sure, there’s lots of great people doing important work at philanthropic organizations, but there are also plenty of people at both private and public sector organizations who are claiming to be doing important work but are not actually having an impact—and there’s often insufficient accountability mechanisms to do something about it. As we just saw with the FTX blow up, just because someone claims to be doing good does not mean they are.When activists advocate for new rights, they’re also implicitly advocating for a permanent cast of managers to monitor the implementation of these new rights. This is why some of the problems the multi-billion dollar activist class was created to solve will in fact never be “solved”. It’s a challenge of incentives: people are less likely to solve a problem if solving the problem means losing their jobs.The PMC of course wants to retain high-paying jobs as consultants and communicators — And for many years, companies could get away with a bit of excess in the name of social impact (and good marketing). But with increased interest rates and a deteriorating macroeconomic environment, these roles are increasingly harder to justify.