Theme: Incentives

  • THE ECONOMICS OF RELIGION – CATHOLIC FINANCE –“The medieval records show, howev

    THE ECONOMICS OF RELIGION – CATHOLIC FINANCE
    –“The medieval records show, however, that the normal economic incentive of profit drove Church practice. The ban on usury was a way to make sure that public wealth was not siphoned off to lenders but instead was available for paying tithes. What the record shows more concretely, is that the Roman Curia, or head office, loaned money to its own divisions in the field—bishops, monasteries, or religious orders—at high interest rates. This allowed Rome to collect rents downstream, a very normal profit-making practice of the multidimensional firm.”–


    Source date (UTC): 2024-05-27 14:26:54 UTC

    Original post: https://twitter.com/i/web/status/1795099363691147264

  • If you think I’m wrong give me an example. I have the same issue with the safety

    If you think I’m wrong give me an example. I have the same issue with the safety people. All I see is people trying to get compute and resources and money to do research on what we already understand – unless you give an AI permission to perform real world actions through some…


    Source date (UTC): 2024-05-23 14:44:14 UTC

    Original post: https://twitter.com/i/web/status/1793654176431378917

    Replying to: https://twitter.com/i/web/status/1793508496639762522

  • RT @curtdoolittle: @orion_pulse I would say it’s ‘taking the most obvious and ea

    RT @curtdoolittle: @orion_pulse I would say it’s ‘taking the most obvious and easiest short route’ in everything including time preference.


    Source date (UTC): 2024-05-22 19:10:16 UTC

    Original post: https://twitter.com/i/web/status/1793358734766354738

  • I would say it’s ‘taking the most obvious and easiest short route’ in everything

    I would say it’s ‘taking the most obvious and easiest short route’ in everything including time preference.


    Source date (UTC): 2024-05-22 18:39:41 UTC

    Original post: https://twitter.com/i/web/status/1793351038398857286

    Reply addressees: @orion_pulse

    Replying to: https://twitter.com/i/web/status/1793349145400348985

  • The USSR failed for the reasons all experiments with false economies fail. All t

    The USSR failed for the reasons all experiments with false economies fail. All the USA did was participate in the arms race that demonstrated how and why those economies fail. And yes I am painfully knowledgeable about the subject.


    Source date (UTC): 2024-05-22 11:09:00 UTC

    Original post: https://twitter.com/i/web/status/1793237622879326661

    Reply addressees: @sthedark10 @elonmuskADO

    Replying to: https://twitter.com/i/web/status/1793187991260733507

  • There is a difference between an immigrant (bad) and a migrant (good). Migrant l

    There is a difference between an immigrant (bad) and a migrant (good). Migrant labor works the harvest season then returns home with the cash. This means lower cost consumption goods for americans. However, immigrants impose extraordinary direct and indirect costs on the country…


    Source date (UTC): 2024-05-22 03:22:25 UTC

    Original post: https://twitter.com/i/web/status/1793120202344808508

    Replying to: https://twitter.com/i/web/status/1793083644527153194

  • (Video ~22min) A Discussion between Curt Doolittle and Bradley Werrell: The case

    (Video ~22min) A Discussion between Curt Doolittle and Bradley Werrell: The case for blaming the boomers on the elites that produced, incentivized, propagandized, educated, and governed a population of people nearly all of whom were from previously uneducated families and only one or two generations off the farm. Terms used are included in definitions at the end of the article.)

    (Editor’s Note: apparently X.COM has a problem with ‘eating’ uploaded videos. So We’ve provided a link to the Youtube site here. If by some magic the video I’ve uploaded here on X appears, then I’ll edit the video so there is only one copy. 😉 )

    https://youtu.be/-Un7ATONLOA

    So, What Happened?

    The historical arc of causality from the end of the industrial revolution to the present, and the boomers, especially the upscaling of the lower and working classes made possible post war, with the introduction of women into the franchise, and and into business, education, academy – all functioned as the ‘tool’ that the radical postwar financial and credentialist elites could use to appropriate the aristocratic and classical liberal postwar strategy, into a means of spreading the rebellion against civilization and the licensing of degeneracy (devolution) under the legitimacy of that classical liberal strategy, and the great project of ending the tyranny and war of empires – when their postwar elite ambitions were precisely the opposite.

    So after WW1, the Lost Generation was destroyed and humiliated and the traditions were lost. So there emerged an opportunity for a new narrative and strategy to emerge. And while the civil war is where our constitution failed and led to the central government, WW1’s where we went wrong as culture, and post WW2 is where the people that ‘went wrong’ were able to exert influence. And the success by the soviets at rapid industrialization created a tempting prospect for those without any REAL WORLD experience managing businesses, industries, polities, or nations. And thus the age of ideology and credentialists gained purchase over the traditional (aristocratic) culture of europeans.

    When the lost generation was crushed by the world wars, we lost not only empires, but the remnants of aristocratic values that accompanied them, producing ‘lost people’. These lost people re-entered a world that was hopelessly changed, It is very hard to blame any generation given that it’s responding to events that existed during it’s youth and teens. I think I have a grasp of ‘what went wrong’ and it’s largely that the wars opened teh doors for the marxist sequence, and the conversion of the colleges and universities postwar such that the elite institutions stopped training the ‘pseudo-noble’ American families with that traditional loyalty, led to credentialism on one hand and the capacity of marxists and progressives to bypass those traditions and instead use those educations and media to destroy our civilization from within. I Mean, Carnegie was seeking to merge the soviets with the Americans. That kind of idiocy was everywhere: the belief that you can replace aristocratic traditions that made the west rather than lift up the other lasses into that system and build upon it.

    And while not explicitly stated in the video (I avoided it) the implication is that the conversion of the anglo and anglo American cultural aristocracy, when it was replaced by the financial sector elites, then credentialist elites, and supported by ‘talking class’ elites, lost control of the strategic objective of the anglo classical liberal, prewar, and war era, when the financial sector, and the unification of progressives and marxists, and their unification with feminism, allowed the Financial Elites and then the Credentialed elites, to capture the anglo aristocratic strategy consistent with european aristocratic tradition, and impose financial predation and globalism, and then the neo-marxist to feminist to woke cancer that has infected civilization.

    The transformation from a society governed by an Anglo elite with a “long view” and paternal sense of responsibility to one characterized by credentialism and a decline in institutional trust has had profound impacts on American society.

    The key causes and consequences of this shift:

    Credentialism Over Traditional Elitism: The rise of credentialism replaced the traditional social hierarchy based on heritage and lineage with one based on educational attainment and professional qualifications. This shift was facilitated by expanded access to higher education and the democratization of knowledge through initiatives like the GI Bill.

    Meritocratic Ideals: Meritocratic ideals promoted the idea that anyone, regardless of background, could succeed through education and hard work. This undermined the old elite’s traditional sense of responsibility and stewardship, which was often tied to their inherited status and long-term view of societal welfare.

    Economic and Technological Changes: The postwar economic boom, technological advancements, and the rise of a knowledge-based economy prioritized technical expertise and innovation over traditional leadership roles held by the old elite.

    Consequences

    Erosion of Institutional Trust: The transition to credentialism contributed to an erosion of trust in traditional institutions. The Anglo elite’s paternalistic view, which emphasized stability and long-term planning, was replaced by a focus on individual achievement and short-term gains. This shift has led to a perception that institutions are no longer serving the common good.

    Social Alienation: Robert Putnam’s “Bowling Alone” highlights the decline in social capital and community engagement, which has led to increased social alienation. The breakdown of traditional social networks and communal activities has resulted in a more fragmented society.

    Decline in Academic Standards: Credential inflation has led to a devaluation of academic qualifications and a decline in the perceived quality of education. Universities and colleges, once bastions of elite cultural production, have become more focused on vocational training and less on cultivating critical thinking and civic responsibility.

    Government Inefficiency: The shift from a paternalistic elite to a credential-based system has affected government operations. The focus on technical expertise and bureaucratic procedures has sometimes led to inefficiency and a lack of coherent long-term policy planning. The decline in public trust has further exacerbated the challenges in governance.

    Economic Consequences: And worst of all the economic consequences:

    1. Credential Inflation and Workforce Competence

    Credential Inflation: As more people obtain higher education degrees, the value of these credentials has diminished, leading to credential inflation. Jobs that previously required only a high school diploma now often require a bachelor’s degree, while positions that required a bachelor’s degree now often demand a master’s or higher.

    .Mismatch of Skills: The emphasis on formal qualifications over practical skills can lead to a workforce that is highly educated but not necessarily more skilled or competent in practical, job-related tasks. This mismatch can reduce productivity and innovation within the economy​ (What Generation Am I?)​​ (Art and Popular Culture

    2. Economic Inefficiencies

    Bureaucratization: The rise of credentialism has contributed to the growth of bureaucracy in both public and private sectors. This can lead to inefficiencies and increased operational costs, as more resources are devoted to maintaining and navigating complex administrative structures.

    Short-term Focus: Credentialism can promote a focus on immediate, measurable achievements (e.g., test scores, degree attainment) rather than long-term planning and investment. This short-term focus can hinder sustained economic growth and competitiveness.

    3. Innovation and Entrepreneurship

    Barrier to Entry: The emphasis on credentials can create barriers to entry for talented individuals who may lack formal qualifications but possess the skills and innovative ideas necessary for entrepreneurship. This can stifle innovation and limit the dynamism of the economy.

    Risk Aversion: Credentialism can foster a culture of risk aversion, where individuals and institutions prioritize safe, conventional paths over innovative, riskier ventures. This aversion can slow the pace of technological advancement and economic progress .

    4. Global Competitiveness

    Lagging Behind: As other countries invest in education systems that balance practical skills and formal education, the U.S. may fall behind in global competitiveness. Countries like Germany and Switzerland, with strong vocational training programs, produce highly skilled workers who contribute to robust economies.

    Talent Drain: Highly skilled individuals may seek opportunities abroad if they perceive the U.S. job market as overly reliant on credentials rather than merit and innovation, leading to a potential talent drain.

    5. Economic Inequality

    Wage Gaps: Credentialism can exacerbate economic inequality by creating a divide between those who can afford higher education and those who cannot. This divide can lead to wage gaps and reduced social mobility, ultimately impacting economic stability and growth .

    Access to Opportunities: Inequitable access to quality education and the resulting credentials can limit economic opportunities for large segments of the population, reducing the overall talent pool available to the economy.

    Supporting Theories and Research

    Human Capital Theory: Suggests that investment in education should improve economic productivity. However, if the education system emphasizes credentials over actual skill acquisition, this investment may not yield the expected economic benefits .

    Credentialism Critique: Scholars like Randall Collins argue that credentialism serves to reinforce social stratification without necessarily improving job performance or economic efficiency .

    Conclusion

    The shift towards credentialism in the postwar era has had mixed effects on the competitiveness of the American economy. While it has democratized access to education and created a more meritocratic system, it has also led to inefficiencies, skill mismatches, and barriers to innovation. Addressing these challenges requires a balanced approach that values practical skills and competencies alongside formal educational achievements.

    Cheers
    CD

    Definitions

    Credentialism: Credentialism is the overemphasis on certificates, degrees, and formal qualifications in assessing an individual’s capabilities, skills, and suitability for a job or social position. It involves the belief that formal educational credentials are the primary indicators of a person’s ability and worth, often at the expense of practical experience or other forms of competence.

    Credentialist: A credentialist is someone who practices or supports credentialism. This person places significant value on formal educational qualifications when evaluating others for employment, promotion, or other opportunities, often to the exclusion of other measures of ability or competence.

    American Generations:
    Generation: “a “generation” is defined as a cohort of individuals born over a span of approximately 20-22 years who share a common location in history and collectively possess a distinct set of beliefs, behaviors, and attitudes shaped by the major social, political, and economic events they experience during their formative years.”
    – Gilded Generation: 1822–1842
    – Progressive Generation: 1843–1859
    – Missionary Generation: 1860–1882
    – Lost Generation: 1883–1900
    The term “Lost Generation” encapsulates the feelings of disillusionment, aimlessness, and cultural dislocation experienced by those who lived through World War I and its aftermath. It highlights the generational impact of the war on traditional values and societal norms, leading to a pervasive sense of loss and search for new meaning.
    – G.I. Generation: 1901–1924
    – Silent Generation: 1925–1942
    – Baby Boom Generation: 1943–1960
    – Generation X (1961–1981)
    – Millennials (1982–2000)
    – Generation Z (2001–2015)
    – Generation Alpha (2016–Present)

    Generational Archetypes (Rotation of Generational Behavior):
    Strauss and Howe identify four generational archetypes that repeat in a fixed cycle: Prophets, Nomads, Heroes, and Artists.
    – Prophets (Idealist generation): Born during or just after a crisis, they grow up as increasingly indulged children, come of age as the self-absorbed young crusaders of a spiritual awakening, and age into moralistic midlife leaders.
    – Nomads (Reactive generation): Born during an awakening, they grow up as under-protected children, come of age as the alienated young adults of a post-awakening world, and age into pragmatic midlife leaders.
    – Heroes (Civic generation): Born after an awakening, they grow up as protected children, come of age as the heroic young team-workers of a crisis, and age into energetic midlife leaders.
    – Artists (Adaptive generation): Born during a crisis, they grow up as overprotected children, come of age as the sensitive young adults of a post-crisis world, and age into thoughtful midlife leaders.

    The Marxist Sequence: the marxist sequence of sedition by conflict generation consist of marxism(working class marxism), neo-marxism(anti-cultural), postmodernism(relativism, anti-truth, anti-merit, anti-excellence), political correctness (anti-truth), feminism (sex), libertarianism(middle class marxism), neoconservatism(ruling class marxism), woke (race marxism) as the sequence by which the radical left has sought to destroy the institutions of cultural production of the west by the self-confessed ‘march through the institutions of cultural production’, resulting in capture of education, academy, media, bureaucracy and state, augmented by the undermining of group homogeneity through immigration and replacement reproduction.

    [END]


    Source date (UTC): 2024-05-18 22:42:48 UTC

    Original post: https://x.com/i/articles/1791962669529825280

  • (exactly). 😉 But here is the issue, and the issue I made to MSFT back in 05-06:

    (exactly). 😉
    But here is the issue, and the issue I made to MSFT back in 05-06: The only reason we can advertise on search is because we can’t get the answer we really want. SO… google can continue to protect the cash cow of advertising on search, but it’s very hard to do when you get the right answer, and especially if the answer is delivered by voice. Moreover, MSFT etc doesn’t need to make money by search. So, what if they produce better search and don’t use advertising? What happens to Google search? Google search is dominant because of habit. I use bing becaues it’s less noisy and biased. What if bing is even less noisy and biased, and advertising is all but non-existent? Because an LLM for search, even current moment search, is not difficult to build (look how fast Musk did it), and so Google’s moat doesn’t really exist if someone else wants to repeat the process of microsoft putting mozilla out of biz by giving the browser away. And google giving chrome away simply by divorcing the tech from the msft stack.

    Reply addressees: @orion_pulse


    Source date (UTC): 2024-05-16 15:57:35 UTC

    Original post: https://twitter.com/i/web/status/1791135920386658304

    Replying to: https://twitter.com/i/web/status/1791127361712206034

  • AI WILL REPEAT THE PROCESS OF DEVOURING. 😉 Internet and search DEVOURED yellow

    AI WILL REPEAT THE PROCESS OF DEVOURING. 😉
    Internet and search DEVOURED yellow pages (100%) and most of advertising (62%). Now AI is very likely to devour search and very possibly…. online advertising. Which, might not be so good, given that it’s advertising that funded radio > television > internet > all the free tools google has given us because of that advertising.


    Source date (UTC): 2024-05-16 13:55:35 UTC

    Original post: https://twitter.com/i/web/status/1791105217385140224

  • I mean, I’ve experienced a little of this my self, in that if you’re wealthy you

    I mean, I’ve experienced a little of this my self, in that if you’re wealthy you are increasingly lonely because you can’t really determine whether any of the women that are interested in you, or your those who are your friends are in fact potential partners or friends, or just opportunists or manipulators, and it’s very tiring and depressing. (I mean even in my work now, if it weren’t for the friends I have that work with me, I might feel lonely, if only because my work produces many painful truths that are discomforting to people.)

    Reply addressees: @DustinofApollon


    Source date (UTC): 2024-05-15 19:11:01 UTC

    Original post: https://twitter.com/i/web/status/1790822210107568128

    Replying to: https://twitter.com/i/web/status/1790821469402055039