GENIUS. CHURCHILL ON CAPITAL
—“Capital is the rabbit strategy in nearly every aspect. Machines need quantity over quality — and it is not even close. Quality to create the machine, quantity to move the machine’s product.”– Michael Churchill
(genius)
Source date (UTC): 2019-10-05 11:09:00 UTC
by Michael Churchill [G]overnment is controlled by capital, and capital needs consumption like a mammal needs blood flow. And these days, with birth rates so low, capital is desperate for bodies. This is part of why interest rates are negative in Europe and Japan. Capital and democracy cannot coexist when CPI is negative, because real wages skyrocket. As such, capital must have bodies and it must have a Fed. So … capital doesn’t really care THAT much about the fine points of how national governments work. It just wants smooth regulation. What it needs to be able to do is sell stuff to humans, have clean title to assets and repatriate the earnings. That’s a pretty low bar actually. Even most of Africa lets you do that.
by Michael Churchill [G]overnment is controlled by capital, and capital needs consumption like a mammal needs blood flow. And these days, with birth rates so low, capital is desperate for bodies. This is part of why interest rates are negative in Europe and Japan. Capital and democracy cannot coexist when CPI is negative, because real wages skyrocket. As such, capital must have bodies and it must have a Fed. So … capital doesn’t really care THAT much about the fine points of how national governments work. It just wants smooth regulation. What it needs to be able to do is sell stuff to humans, have clean title to assets and repatriate the earnings. That’s a pretty low bar actually. Even most of Africa lets you do that.
VERY IMPORTANT (Regarding Economic Reform) [O]rdinary people need elites, and elites need ordinary people unless dis-intermediated by capital. So end disintermediation by capital and you restore the reciprocal dependence of elites upon ordinary people. So in order to prevent elites from defecting from their ordinary people the people must prevent disintermediation their from elites by capital. How is this done? Relatively easily. Especially with full accounting of changes in capital.
VERY IMPORTANT (Regarding Economic Reform) [O]rdinary people need elites, and elites need ordinary people unless dis-intermediated by capital. So end disintermediation by capital and you restore the reciprocal dependence of elites upon ordinary people. So in order to prevent elites from defecting from their ordinary people the people must prevent disintermediation their from elites by capital. How is this done? Relatively easily. Especially with full accounting of changes in capital.
ECONOMIC ADVICE AND THE PUBLIC [E]conomics has been a cudgel for justifying a moral bias, not a science to which we must conform our moral intuitions. Libertarians are largely advocating free riding on the commons just as much as socialist advocate free riding upon the private sector. No economic proposition is decidable by either libertarian or socialist without first solving the question of the distribution of a mixed economy, since only mixed economies can survive competition in the market for polities. The answer of course is just rule of law by reciprocity and that we track investments by the polity in returns and prevent the public from privatizing public gains, just as much as we prevent the public from socializing private gains. In other words, it’s largely a problem of record keeping and accounting. The problem is everyone has an interests in maintaining the lie, and maintaining chaos in the public who resorts to petty moralizing out of ignorance.
ECONOMIC ADVICE AND THE PUBLIC [E]conomics has been a cudgel for justifying a moral bias, not a science to which we must conform our moral intuitions. Libertarians are largely advocating free riding on the commons just as much as socialist advocate free riding upon the private sector. No economic proposition is decidable by either libertarian or socialist without first solving the question of the distribution of a mixed economy, since only mixed economies can survive competition in the market for polities. The answer of course is just rule of law by reciprocity and that we track investments by the polity in returns and prevent the public from privatizing public gains, just as much as we prevent the public from socializing private gains. In other words, it’s largely a problem of record keeping and accounting. The problem is everyone has an interests in maintaining the lie, and maintaining chaos in the public who resorts to petty moralizing out of ignorance.
[I] suppose that like many people, you assume man is moral, rather than amoral – merely choosing between the moral and immoral as incentives provide. We can in fact read others intentions and incentives. We could not cooperate on means or ends otherwise. However history says that such reading of intentions and incentives creates moral behavior, and trains moral intuition – not that moral behavior is intuitive. It’s not. Only reading of intentions and incentives. As anyone who has raised young children finds rather obvious. (worth repeating)
[I] suppose that like many people, you assume man is moral, rather than amoral – merely choosing between the moral and immoral as incentives provide. We can in fact read others intentions and incentives. We could not cooperate on means or ends otherwise. However history says that such reading of intentions and incentives creates moral behavior, and trains moral intuition – not that moral behavior is intuitive. It’s not. Only reading of intentions and incentives. As anyone who has raised young children finds rather obvious. (worth repeating)
So taleb is missing the whole point: that he is only able to use his techniques of via-negativa risk invstment, becuase he is in the only high trust polity, using IMMORAL MEANS OF GAIN, and so is his alter ego “Fat Tony”. These men are, by western ethics and morality ‘Scammers”.
Source date (UTC): 2019-10-03 15:17:30 UTC
Original post: https://twitter.com/i/web/status/1179777503549898753
Reply addressees: @clairlemon
Replying to: https://twitter.com/i/web/status/1179777076636868609
IN REPLY TO:
Unknown author
@clairlemon … large complex organizations, because they thing lying is a tool, cunning is of merit, outwitting by cunning superior than outwitting by increase in productivity, quality, or innovation, and that the commons is to be pilfered rather than invested in at every opportunity.
Original post: https://x.com/i/web/status/1179777076636868609
IN REPLY TO:
@curtdoolittle
@clairlemon … large complex organizations, because they thing lying is a tool, cunning is of merit, outwitting by cunning superior than outwitting by increase in productivity, quality, or innovation, and that the commons is to be pilfered rather than invested in at every opportunity.
Original post: https://x.com/i/web/status/1179777076636868609