Posts Tagged ‘Economics’

Chaos Patch (#102)

(Open thread + links)

Atomic fission. Occult government. The chaos option. Escalate to ideas. A tale from the Hood. Comment policy. The dissident right mapped (not hugely persuasively). New blog. The weekly round.

The Islamic Vortex update (1, 2, 3, 4, 5, 6, 7). Saudi collapse chatter (plus). Stuxnet update. Charlie Foxtrot foreign policy (1, 2, 3, 4). Venezuela in ruins (1, 2, 3). Full communism in the UK and US. Chinese takes on the Norks, its own rich kids, and digital money. Germany leaves the reservation. Scary Poland (notable 1, 2), plus Jim’s take.

Commodities as cash. Beyond zirp lies calamity (1, 2, 3, 4, 5). The neglected supply side. Business success for SJWs (1, 2).

Polarization yawns (relevant). Against inheritance (note). Lost millennials (and competitiveness). The ‘social justice’ defense.

Trumpenführer panic report (1, 2, 3). The Bush slayer (relevant), level complete. Crashing the party (1, 2, 3, 4). Spanked Pope. Dreher floods the zone (1, 2, 3, 4). Trump speaks. Trump’s veep?

Meanwhile, on the other side of chaos (1, 2, 3, 4).

ScaliaGate (1, 2, 3, 4).

Twitter funny business watch (1, 2, 3, 4, 5). The search for alternatives. Twitter versus Facebook. Social media versus party politics. The digital ghetto. Biased social science. Derbyshire disinvited.

Costs of dishonesty. Racial profiling. The tightrope of discretion. Discriminate harder. German crime stats. Complexities of religious reproduction. An IQ/income bibliography. Amygdala conflict. A biorealist look at democracy.

Hominin taxic diversity (plus).

Apple against the FBI. What’s next for AI (see also, and)? ET is out there (or in here). Time-travel ‘update‘.

A difficult number. Predation and speciation. Modafinil works. Toxoplasma alert drop. A time-lapsed sun and carnivorous glowworms.

Apocalypse Corner (1, 2, 3). “As the economic, social and ethnic contradictions are only growing in the modern world our most cunning weapon against the system is to snuff out all hope people may still have. Considering the state the world is in today it doesn’t take much to shake people’s confidence in the system. But instead of being worried, anxious or desperate about the coming turmoil, we must fearlessly welcome it, we must celebrate it, we must embrace it, we must always make it absolutely clear that the collapse of the western societies into a raging ethnic tribal war only serves our cause and that it is the necessary prerequisite for the national revolution. Therefore our primary task is to convince everyone that chaos awaits, we must do everything within our power so that a sense of doom and gloom begins to haunt the society. We must persuade people to believe in the collapse, so that this collapse then becomes a self-fulfilling prophecy as well.” (As with much Chaos Patch material, that merits an XS smile, but not a full endorsement.)

A cognitive bias run-down. Umberto Eco (RIP) on fascism.

February 21, 2016admin 30 Comments »
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Chaos Patch (#101)

(open thread + links)

NRx orthodoxy (also relevant). Sanguine on NIO. Retribution. Broken world syndrome. Why WN fails. Citadel on philosemitism. Leftism and Christianity. ‘Neoreaction’ on TV. The ADL’s Alt-Right primer. The weekly round.

War clouds thicken over Syria (also relevant). Transition in Vietnam (some commentary). Swedish suicide (and Finland‘s). Collapse spiral in Greece, and — still more — in Venezuela. Blaming you-know-who in Malaysia. Winning by losing. Grim analyses. Stay out of civil wars. A defense of the Gray Zone. Ethnic violence is war.

Missing inflation and abundant oil. The fourth revolution. Inefficient financial markets. Perverse effects.

Antonin Scalia, a writer for the law (as even his enemies admit). An opportunity for the Left? Pollack comments. Douthat at the NYT.

Mainstream Left and Right on the tightrope. No exit. An Indian view of political asymmetry (also). When anarchists attack. Communist defectors. Send him to church. Millennial retardation and psychosis (related).

Trumpenführer panic report — fash forward edition. Trump intensifies. Subtle hints of desperation. “Trumpism is … the endgame of a process that has been going on for a half-century: America’s divestment of its historic national identity.” Populism rising, everywhere. America can survive.

Apocalypse Corner — locked-in-a-burning-box version. Doom loop (relevant). “We’re all going to suffer.”

Twitter’s algorithmic timeline and untrusted safety council, plus shadow banning, censorship, and other partisan excesses. (More.) The padded cell option. Chaos tweet of the week. Methodical lies.

Crime-fact express. DNA letters. Canine ‘IQ’. Sexual difference. A black bitter clinger.

Zika people. Leftist ants. Tentaclysm (plus).

Open access. Gravity makes waves (plus 1, 2, 3, 4). Mega-mirrors. Moore no more? Two decades of computer pwnage. Viral heritage. Time-travel hazard.

The complex beauty of virtue ethics. Cheating and self-reinforcement. Defectors from the Left. Going big on Bosch.

February 14, 2016admin 39 Comments »
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Sentences (#41)

Charles Hugh Smith on the perverse effects of (understandable) macroeconomic panic:

What NIRP communicates is: this sucker’s going down, so sell everything and hoard your cash and precious metals.

Oh, look


Expect the war on cash, in all its forms, to massively intensify.

ADDED: Fernandez, on the road to NIRP. “While NIRP and $4.1 trillion budgets may represent the last throw of the Keynesian dice, John Maudlin warns that even failure will have no effect. Like negative interest rates itself, orthodoxy is prepared to venture into negative sanity rather than admit to error.”

February 12, 2016admin 118 Comments »

Quote note (#219)

This notorious Andrew Mellon quote — disastrously ignored by Herbert Hoover — might be the XS most favored recommendation of all time (in the realm of political economy, at least):

Liquidate labor, liquidate stocks, liquidate farmers, liquidate real estate. It will purge the rottenness out of the system. High costs of living and high living will come down. People will work harder, live a more moral life. Values will be adjusted, and enterprising people will pick up from less competent people.

Anyone who has conniptions about it (which is almost everyone) is part of the problem. Mellon still understands entropy dissipation. No one in a position of political authority has since.

NRx (Outside in version) is the obstreperous alternative history in which Mellon was listened to.

February 9, 2016admin 103 Comments »
FILED UNDER :Political economy

Chaos Patch (#100)

(Open thread + links)

“Asymmetric warfare only works when the weaker party has political protection.” Cosmic evolution. Compressed exit. Closet cleaning (1, 2). On loudmouths. Power. Signals (also). Libertarianism on a knife edge. Defending Roosh (1, 2). The weekly round.

The wisdom of Davos. Taleb on Modi. Europe’s tech failure. State of emergency. White flight in Germany. Europe through Chinese eyes. Blame the EU (for this). Saudi pain. Venezuela alone.

Capitalism in the crosshairs. The triad of fear. Dirty pools. Time-horizons. Left-wing capitalism. The New Economics of Oil. Give gold a chance. Arms races and regulation. LinkedIn crashes (plus context).

Jacksonians are missed. Private governance made modernity. The house divided. Against primitivism.

Trumpenführer panic report — the coarsening. Huffpo helpfully reminds its readers “Donald Trump is a serial liar, rampant xenophobe, racist, misogynist, birther and bully …” The Brooks denial deepens. The realist candidate (in this case, at least). Nobel Prize material? A Carlylean take. Unstumpable.

Buchanan vs Williamson. Against decadence. Angry Americans. A Cruz primer. Economic determinism.

Jihad in Europe (1, 2, 3). A modest suggestion. Molyneux and Watson soothe your concerns (video). Hmmm. “Sorry, what was the question again?”

Dawkins disinvited. The war on comments (1, 2). Educational implosion (plus 1, 2, 3). Facebook and Twitter struggle to keep focused (also). Twitter and NRx. Gnon knows what’s happening at GitHub. The Left is embarrassing itself. Unsettled science.

Canalization. Dangerous young men. On Jones’ IQ Paradox. … race (1, 2). Segregation is good again. HBD and democracy.

Thoughts on the Reformation.

Apocalypse Corner — The meaning of collapse. Death spiral. The deluges to come.

AI can’t be stopped (video). A fusion breakthrough in Germany (see also)? Submarine date centers. Israeli cyber-security. Crypto-sabotage. A bitcoin-powered browser. Deep learning on a chip. AI and Google search (also relevant). The world’s biggest robot. A visual guide to asteroid mining.

Alexander on Superforecasting (1, 2). Flashlight philosophy. Cultural preparation for posthumanity. Sanskrit and the elements.

February 7, 2016admin 87 Comments »
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It’s come to this:

What if someone told you that you were the reincarnation of Jesus, and that it was your destiny to save the world from political and economic destruction? […] Jack Cohen had his whole future before him. Just nineteen years old, he was a gifted athlete, a genius scholar, and a mixed martial arts prodigy, capable of leaving his mark in any number of ways. But his world turns suddenly upside down when a mesmerizing domme, Mary McDonald, enters his life and insists that he is Jesus 2.0 — and that it is his mission to wage spiritual and political warfare on the establishment of Washington, D.C. Beautiful, clever, yet dangerous, Mary also tells Jack that she was chosen from above to lead him to his mission. Though he tries to resist, Jack finds himself thrust into a journey of sexual, spiritual and political awakening that will forever alter his life… and change the course of the world. […] A blend of Atlas Shrugged, Fifty Shades of Gray and The Shack, mixed together with a megadose of PEDs, Kill Jesus is a wild, page-turning ride that will open your mind to a new way of thinking, while shattering any notions of a pacifist or puritanical Messiah.

Readers love it. One comments (“Surprising Book”):

I was surprised that I couldn’t put this book down. It was a combo of an eastern philosophy version of Conversations with God, UFC fighting, mommy/daddy porn, and Austrian economics mixed into one. The only thing I would change if I could was a little less of Ayn Rand but that’s just my taste. …


February 5, 2016admin 13 Comments »
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Twitter cuts (#41)

Continue Reading

January 5, 2016admin 16 Comments »
FILED UNDER :Political economy

Cognitive Capital

A (July 2014) paper on ‘Cognitive capital, governance, and the wealth of nations’ (by Oasis Kodila-Tedika, Heiner Rindermann, and Gregory Christainsen) discusses exactly what it promises to. From the abstract:

Good governance or “government effectiveness” (per the World Bank) is seen as a critical factor for the wealth of nations insofar as it shapes political and economic institutions and affects overall economic performance. The quality of governance, in turn, depends on the attributes of the people involved. In an analysis based on international data, government effectiveness was related to the cognitive human capital of the society as a whole, of the intellectual class, and of leading politicians. The importance of cognitive capital was reflected in the rate of innovation, the degree of economic freedom, and country competitiveness, all of which were found to have an impact on the level of productivity (GDP per capita) and wealth (per adult). Correlation, regression, and path analyses involving N=98 to 201 countries showed that government effectiveness had a very strong impact on productivity and wealth (total standardized effects of β=.56-.68). The intellectual class’s cognitive competence, seen as background factor and indicated by scores for the top 5 percent of the population on PISA, TIMSS and PIRLS, also had a strong impact (β=.50-.54). Cross-lagged panel designs were used to establish causal directions, including backward effects from economic freedom and wealth on governance. The use of further controls showed no independent impacts on per capita wealth coming from geographical variables or natural resource rents.

(The takeaway for recent discussions here: Contra NRx dirigistes, high levels of economic freedom are a statistically-significant indicator of sound government but — contra libertarians — the foundation of social competence lies in cognitive capital, and not liberal institutions. Stated reverse-wise: Free societies are a product of deeper things, all feedback complexities aside, but they are — from the perspective of techno-economic functionality — an evidently desirable one.)

November 6, 2015admin 11 Comments »
FILED UNDER :Political economy
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Quote note (#196)

Internally sourced (replying to this):

Mercantilism *is* quite poor. It’s a system of tarifs, subsidies, protections and monopoly grants which is what we already have today (the only difference being that in the age of actual Mercantilism they had hard money and low taxes and we now have fiat money and high taxes).

November 4, 2015admin 51 Comments »

Quote note (#194)

A realist case for markets:

The market mechanism is loosely efficient. But the idea that efficiency is the main virtue of free markets is wrong. Competition itself is highly inefficient. In my home town, I can buy food from about eight different places; I’m sure this system could be much more ‘efficient’ if Waitrose, M&S and Lidl were forcibly merged into one huge ‘Great Grocery Hall of The People No. 1306’. I am equally confident that after a few initial years of success, the shop would be terrible. […] The missing metric here is semi-random variation. Truly free markets trade efficiency for a costly process of market-tested innovation heavily reliant on dumb luck. The reason this inefficient process is necessary is that, though we pretend otherwise, no one knows anything about anything: most of the achievements of consumer capitalism were never planned; they are explicable only in retrospect, if at all. (XS emphasis.)


October 27, 2015admin 24 Comments »
FILED UNDER :Political economy