Posts Tagged ‘Economics’

Spotless

HP Lovecraft ends the first section of his (utterly magnificent) ‘The Shadow out of Time’ with the words:

“. . . of the orthodox economists of that period, Jevons typifies the prevailing trend toward scientific correlation. His attempt to link the commercial cycle of prosperity and depression with the physical cycle of the solar spots forms perhaps the apex of . . .”
Nathaniel Wingate Peaslee had come back—a spirit in whose time-scale it was still that Thursday morning in 1908, with the economics class gazing up at the battered desk on the platform
. [Added internal link]

(Scientific correlation, as we know from the first line of ‘The Call of Cthulhu’ and elsewhere, can be terrifying.)

SunCycle24 (Click image to hugely expand.)

The solar system, gauged by mass, consists almost entirely of the sun. Sol accounts for 99.86% of it. Quantity isn’t everything, but insofar as it’s anything, this has to matter — a lot. The sheer magnitude of our solar dependency is hard to even fractionally comprehend. What the sun does is what happens. The earth is its crumb. Our biosphere suckles it. Our civilizations are so far downstream of it, feeding second or third hand on its emissions, if not more distantly, that we easily lose all track of the real flow. As economies sophisticate, the relays proliferate. Perhaps this is why the messages of the sun are so inattentively received, despite rapid improvement in the technical and cultural tools required to make sense of them.

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September 11, 2014admin 16 Comments »
FILED UNDER :Cosmos
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Rhythmic Reality

Read history through a real unit of account, and suddenly it emits hard information:

djia-19001

(Chart from azizonomics, via my favorite communist.)

September 10, 2014admin 3 Comments »
FILED UNDER :Images
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Go Scotland!

Tribal politics excites the autobiographical impulse, which I’ll pander to for just a moment (without pretending to any particular excitement). My immediate ancestry is a quarter Scottish, and — here’s the thing — those grandparents were Wallaces. Seriously, they were these guys:

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… but it’s my remaining three-quarters of mongrelized Brit that is leading this post to its destination. In particular, the 37.5% of English blood coursing through my veins is the part murmuring most enthusiastically for Scotland to vote ‘Yes!’ to departure this week.

Scotland is hugely over-represented in the UK Parliament, shifting the country’s politics substantially to the Left. While Scottish exit wouldn’t necessarily ensure a permanent conservative government — electoral democracy simply doesn’t work like that — it’s hard to argue that the result could be anything other than an ideological rebound of sorts, with the rump UK’s entire political spectrum shunting right. Since such an outcome would almost certainly prolong the viability of liberal democracy, perhaps even worldwide (due to contagion effects), it would be unseemly for any neoreactionary to get adrenalized about it. England would nevertheless undergo a minor restoration, conceivably broadening the political imagination in a modestly positive way.

Every increment of dynamic Anglo capitalism adds resources that will eventually be of great use — especially now, with public ledger crypto-commerce coming online. It is a grave error to become so fixated upon the death of the demotic power structure that positive techno-commercial advances are simply written off, or worse, derided as life-support apparatus for the enemy. Even a minor Anglo-capitalist revitalization would produce some deep value (as early, or creative destruction-phase Thatcherism did, amid its manifold failures).

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September 8, 2014admin 37 Comments »
FILED UNDER :Political economy
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Quote note (#106)

Extracted from a flawless slab of hard Jim:

Yair Lapid self pityingly whines “why do they hate us?”, “us” being in this case the Jews, though it could equally well be any group that is economically successful and reluctant to murder innocents. […] … Kikuyu … Tutsis … Kulaks .. So cut the damned whining. You sound just like the people who are trying to murder you. … when they hear whining, they hear weakness, and so they attack.

Stop whining. Kill someone.

September 6, 2014admin 11 Comments »
FILED UNDER :Neoreaction
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Chaos Patch (#25)

(Open thread + free random prodding.)

I’m Rotheramed out, but anybody looking for substantial relevant reading material would probably be interested in this. Some of the ethnic-insider commentary is interesting too. (Plus, an Aljazeera perspective.)
+ Scruton on Rotherham, concluding with this instant classic: “After a few weeks all will have been swept under the carpet, and the work of destruction can resume”.
+ Dampier (whose conclusion is pure gold).

The torrential Dugin current continues. Alt-Righters should sympathize, suggests Radix. That’s probably true, and more evidence of the fundamental divergence between the ENR and NRx. There’s a substantial article at The Fourth Political Theory blog. Two older pieces (both fascinating, NIO suggestions). And also this. Related: Scary Strelkov, and (for comedy time) blame the MRAs for Putin.

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August 31, 2014admin 22 Comments »
FILED UNDER :Chaos
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Non-Democracy

Eli Dourado’s piece at The Umlaut on ‘What the Neoreaction Doesn’t Understand about Democracy’ has already accumulated a mass of (to this blog) telling criticism in its comment thread, plus a full-length critique by Henry Dampier. The tone of the discussion has been encouraging, and the grounds proposed by Dourado upon which democracy is asked to defend itself (government incontinence and rampant redistributionism) is doubly so. Based on this (rather odd) research paper, the conclusion is that ‘non-democracies’ are at least as messed up as democracies on the indicators that matter to the economic right.

From the perspective of Outside in, the central problem with this line of argument is the assumption that ‘Neoreaction’ can be aligned with the grotesquely aggregated category of ‘non-democracy’. (Although, this is of course how things will look from a default commitment to democratic normality.) The Neoreactionary critique is in fact directed at demotic government, a regime class that includes democracy, authoritarian populism, and socialist ‘people’s republics’. The reliable signature of this class is that its members legitimate themselves through democracy, however their various levels of democracy are gauged by social scientific analysis. North Korea self-identifies as the Democratic People’s Republic of Korea (and to a formalist, this is of ineliminable significance). Since it is the principle of democratic legitimation that NRx denounces, its models are restricted to a far more compact class than ‘non-democracies’ — namely, to non-demotic states: with absolute monarchies and colonial regimes as the purest historical examples, supplemented by restricted-franchise commercial republics (17-18th century United Provinces and United Kingdom*), (still virtual) Joint-Stock Republics, and demotically-compromised Confucian Autocracies, plus rightist military juntas (since Pinochet cannot reasonably be excluded). As soon as regimes of such types are statistically amalgamated with socialist / populist dictatorships, the theoretical chaos is irredeemable.

Furthermore, and even more crucially, main-current Neoreaction does not argue for ‘non-democracy’ over democracy, but for Exit over Voice. It does not expect some governmental magic from ‘non-democracies’ (except on its — admittedly wide — theoretically incoherent fringes). Effective government requires non-demotic control, resulting from (apolitical) selection pressure. The identification of the state with the corporate institution is directed to the fact that businesses work when they can be bankrupted. The attraction of the ‘dictatorial’ CEO is a twin-product of demotic desensitization and competitive hyper-sensitization. The reason to free the ‘monarch’ from the voice of the people is to lock him into undistracted compliance with the Outside.

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August 21, 2014admin 31 Comments »
FILED UNDER :Democracy , Neoreaction
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Motte and Bailey

I’ll assume everyone has read and digested Scott Alexander’s description of Motte and Bailey arguments. It’s extremely useful. (So much so, it’s probably fated to undergo compression to ‘M&B positions’ at some stage.)

The NRx versions of these are extremely trying. Most grating, from the perspective of this blog, are the Feudalism (Monarchism) examples. These have a strong motte, roughly of the form “by ‘feudalism’ we mean structures of decentralized hierarchical tradition, antedating state bureaucratization (and by ‘monarchism’ we mean a CEO with undivided powers)”. In predictable M&B style, these then dilate into a ramshackle set of formless nostalgias, bizarre dreams for a universal return to rural life, with ‘the Olde Kinges will return’ fantasies substituted for a realistic engagement with modernity, plus much arm-wrestling and ale. My strong temptation is to burn out the motte and forget the whole thing. There’s certainly far more to be lost from the latter associations, than to be gained from the former.

Listen to this interview with Marc Andreessen if you get a chance. There’s a lot of fascinating material there. Perhaps most crucial to this ‘point’ — he understands that the combination of peripheral economic development, advanced mobile telephony, and precipitously falling prices, is basically putting the equivalent of a 1970s supercomputer into everyone‘s hands in the very near future. You can already buy a smartphone for $35, and denizens of developing countries express a preference for these gizmos over indoor plumbing. It’s not so much a prediction then, more an acknowledgement of final-phase installed fact. This is the world that realistic socio-political analysis has to address.

However NRx gets sub-divided, can I please not be in the part that foregrounds the return of jousting as a pressing cultural issue. The challenges and opportunities of planetary-saturation Cyberspace is the topic that matters.

August 5, 2014admin 28 Comments »
FILED UNDER :Neoreaction
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Aletheia

Erik Falkenstein makes a lot of important points in this commentary on Thomas Piketty (via Isegoria). The whole post is highly recommended.

To pick up on just one of Falkenstein’s arguments here, he explains:

Most importantly for [Piketty’s] case is the fact that because marginal taxes, and inheritance taxes, were so high, the rich had a much different incentive to hide income and wealth. He shows marginal income and inheritance tax rates that are the exact inverse of the capital/income ratio of figures, which is part of his argument that raising tax rates would be a good thing: it lowers inequality. Those countries that lowered the marginal tax rates the most saw the biggest increases in higher incomes (p. 509). Perhaps instead of thinking capital went down, it was just reported less to avoid confiscatory taxes? Alan Reynolds notes that many changes to the tax code in the 1980s that explain the rise in reported wealth and income irrespective of the actual change in wealth an income in that decade, and one can imagine all those loopholes and inducements two generations ago when the top tax rates were above 90% (it seems people can no better imagine their grandparents sheltering income than having sex, another generational conceit).

The much-demonized ‘neoliberal’ tax regimes introduced in the 1980s disincentivized capital income concealment. (Falkenstein makes an extended defense of this point.) In consequence, apparent inequality rose rapidly, as such revenues came out of hiding (ἀλήθεια) into public awareness / public finances. The ‘phenomenon’ is an artifact of truth-engineering, as modestly conservative governments sought to coax capital into the open, within a comparatively non-confiscatory fiscal environment.

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July 28, 2014admin 18 Comments »
FILED UNDER :Democracy , Political economy
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Attention Economy

rkhs put up a link to this (on Twitter). I suspect it will irritate almost everyone reading this, but it’s worth pushing past that. Even the irritation has significance. The world it introduces, of Internet-era marketing culture, is of self-evident importance to anyone seeking to understand our times — and what they’re tilting into.

Attention Economics is a thing. Wikipedia is (of course) itself a remarkable node in the new economy of attention, packaging information in a way that adapts it to a continuous current of distraction. Its indispensable specialism is low-concentration research resources. Whatever its failings, it’s already all-but impossible to imagine the world working without it.

attention0

On Attention Economics, Wikipedia quotes a precursor essay by Herbert A. Simon (1971): “…in an information-rich world, the wealth of information means a dearth of something else: a scarcity of whatever it is that information consumes. What information consumes is rather obvious: it consumes the attention of its recipients. Hence a wealth of information creates a poverty of attention and a need to allocate that attention efficiently among the overabundance of information sources that might consume it.” Attention is the social reciprocal of information, and arguably merits an equally-intense investigative engagement. Insofar as information has become a dominating socio-historical category, attention has also been (at least implicitly) foregrounded.

Attention Economics is inescapably practical, or micro-pragmatic. Anyone reading this is already dealing with it. The information explosion is an invasion of attention. Those hunting for zones of crisis can easily find them here, cutting to the quick of their own lives.

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July 19, 2014admin 16 Comments »
FILED UNDER :Media , Political economy
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Chaos Patch (#17)

Through experimentation, I’m led to the conclusion that weekly Chaos Patches are excessive. I’m putting this one up out of a sense of contractual obligation, which conveniently dove-tails with zombie-level burn-out from immersion in a Bitcoin essay (final part of series for WdW magazine*). If people use their awesome Exit powers to drive it into extinction, or at least considerably greater irregularity, I’ll take the message.

This two-decade old James Fallows article played a major role in the final phase of the Bitcoin article. Without question, large chunks of NRx will like it a lot more than me, and probably simply a lot. It seems obviously important. Perhaps there’s something better, covering the same ground, that could replace it, but right now I’m not sure what that would be.

Yesterday was fertility day, to an extraordinary degree. In case anybody missed these: Sister Y, Jim, and Woodley et al.

Robo-extermination watch.

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July 7, 2014admin 41 Comments »
FILED UNDER :Chaos
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