https://t.co/p1usloRmsD
1/Today's Substack post is about Biden's chances of becoming a truly transformational president -- someone who will move U.S. economic policy onto a leftward track, as Reagan once moved it onto a rightward
https://t.co/p1usloRmsD
I did not imagine that Biden could be a transformational president.
BUT, it's looking like he just might be one!
https://t.co/UkqOTmu49E
1. Executive actions and appointments that weakened unions and regulation, etc.
2. An enduring ideological shift, which led eventually to Clinton's welfare reform and deregulations.
Maybe this is the first glimmer:
https://t.co/eOQEeeroo4
Maybe it's not Biden. Maybe it's COVID making America finally realize that Reaganism is inadequate to the challenges we face.
(end)
https://t.co/k5xqLQ88Xq
https://t.co/FGppA1M8W6
More from Noah Smith 🐇
Time for panel #3: Big Tech and regulation!
I will be live-tweeting again, and you can also watch video at either the Twitter or Facebook links below!
Kaissar: Every industry gets regulated when it gets big. The question is what kind of regulation Big Tech will get,and whether the companies will be proactive in shaping it.
Kaissar: More profitable companies have higher returns. Why? Maybe it's a risk factor, because more profit = higher risk of getting regulated.
Bershidskyis showing a diagram of GDPR complaince pop-ups. What a massive ill-conceived bureaucratic mess.
Ritholtz: It's 2018 and we're still talking about Facebook privacy settings?! If you're still giving your personal data to Facebook, you just don't care about privacy!
I will be live-tweeting again, and you can also watch video at either the Twitter or Facebook links below!
Bloomberg Ideas conference now starting! I will be live-tweeting it. You can watch on our Facebook or Twitter pages (links below)! https://t.co/Mbr9dZzWBy
— Noah Smith (@Noahpinion) October 25, 2018
Kaissar: Every industry gets regulated when it gets big. The question is what kind of regulation Big Tech will get,and whether the companies will be proactive in shaping it.
Kaissar: More profitable companies have higher returns. Why? Maybe it's a risk factor, because more profit = higher risk of getting regulated.
Bershidskyis showing a diagram of GDPR complaince pop-ups. What a massive ill-conceived bureaucratic mess.
Ritholtz: It's 2018 and we're still talking about Facebook privacy settings?! If you're still giving your personal data to Facebook, you just don't care about privacy!
Yes, we have been more divided than we are now. Within living memory.
Labor disputes used to kill hundreds of people!
In 1932 Douglas MacArthur called in tanks on protesting veterans, injuring over a thousand people!
In 1967 there were 159 race riots in cities across
In 1921, rioters used airplanes to bomb black businesses in Tulsa, Oklahoma! Hundreds were killed in the riot!
At one point there were five bombings in America *every day*. https://t.co/VUnLr2IDyt
— Noah Smith (@Noahpinion) October 7, 2018
Deadly riots in literally hundreds of American cities. A rash of high-profile political assassinations. Soldiers shooting protesters on college campuses!
Labor disputes used to kill hundreds of people!
In 1932 Douglas MacArthur called in tanks on protesting veterans, injuring over a thousand people!
In 1967 there were 159 race riots in cities across
In 1921, rioters used airplanes to bomb black businesses in Tulsa, Oklahoma! Hundreds were killed in the riot!
1/OK, let's take a little break from Coup Twitter, and think about an economic issue:
How can we build up the wealth of the middle class?
2/The typical American has surprisingly little wealth compared to the typical resident of many other developed countries.
This is a fact that is not widely known or appreciated.
3/Now, some people argue that stuff like Social Security or social insurance programs should be included in wealth. But I chose to focus on private wealth because I think having assets you can sell whenever you want is important to
4/For many decades after World War 2, middle-class wealth in America was on a smooth upward trajectory.
Then the housing crash came, and all that changed. Suddenly the rich were still doing well but everyone else was seeing the end of their American Dream.
5/Why the divergence?
Because the American middle class has its wealth in houses -- specifically, in the houses they live in.
It's the rich who own stocks.
How can we build up the wealth of the middle class?
2/The typical American has surprisingly little wealth compared to the typical resident of many other developed countries.
This is a fact that is not widely known or appreciated.
3/Now, some people argue that stuff like Social Security or social insurance programs should be included in wealth. But I chose to focus on private wealth because I think having assets you can sell whenever you want is important to
Yes, these numbers don't include things like Social Security, just privately held wealth. They're not an attempt to capitalize every possible future income stream.
— Noahtogolpe \U0001f407 (@Noahpinion) January 10, 2021
4/For many decades after World War 2, middle-class wealth in America was on a smooth upward trajectory.
Then the housing crash came, and all that changed. Suddenly the rich were still doing well but everyone else was seeing the end of their American Dream.
5/Why the divergence?
Because the American middle class has its wealth in houses -- specifically, in the houses they live in.
It's the rich who own stocks.
1/OK, so. Let's talk about Left-NIMBYism.
We all know about Right-NIMBYs, rabidly protecting their white-flight suburbs from Those People. And there are plenty of liberal NIMBYs too.
But NIMBYs of the Left are also a force to be reckoned
2/Left-NIMBYs have developed a canon of interlocking, mutually reinforcing beliefs about housing and urbanism.
These beliefs are mostly false, but they form a powerful "canon" that quickly ossifies into a hardened worldview.
It looks something like this:
3/Fortunately, Nathan J. Robinson of Current Affairs has written an article that perfectly encapsulates the Left-NIMBY worldview (and quotes me in it!).
So this is a teachable
4/Robinson selectively quotes a Bloomberg article of mine (https://t.co/iamRrW6oei).
Look at the part he quoted, vs. what I actually wrote!
Pretty different, eh? 😉
5/In fact, as I wrote in the article that Robinson failed to read more than one line of, it's theoretically possible that Left-NIMBYs COULD be right that allowing market-rate housing drives up local rents.
I take that possibility very seriously, as do YIMBYs.
We all know about Right-NIMBYs, rabidly protecting their white-flight suburbs from Those People. And there are plenty of liberal NIMBYs too.
But NIMBYs of the Left are also a force to be reckoned
2/Left-NIMBYs have developed a canon of interlocking, mutually reinforcing beliefs about housing and urbanism.
These beliefs are mostly false, but they form a powerful "canon" that quickly ossifies into a hardened worldview.
It looks something like this:
3/Fortunately, Nathan J. Robinson of Current Affairs has written an article that perfectly encapsulates the Left-NIMBY worldview (and quotes me in it!).
So this is a teachable
4/Robinson selectively quotes a Bloomberg article of mine (https://t.co/iamRrW6oei).
Look at the part he quoted, vs. what I actually wrote!
Pretty different, eh? 😉
5/In fact, as I wrote in the article that Robinson failed to read more than one line of, it's theoretically possible that Left-NIMBYs COULD be right that allowing market-rate housing drives up local rents.
I take that possibility very seriously, as do YIMBYs.
More from Biden
Today's Twitter threads (a Twitter thread).
Inside: 20 years a blogger; Will Biden bust trusts?; and more!
Archived at: https://t.co/8eRWqssqXf
#Pluralistic
1/
20 years a blogger: Reflections on a lifetime of reflecting.
https://t.co/XyvbPirvhE
2/
Will Biden bust trusts?: Obama's third term would be a disaster for antitrust.
https://t.co/FMc798VhI0
3/
#10yrsago Disney World’s awful Tiki Room catches fire https://t.co/exhhsaAnzD;
#10yrsago Disney World’s awful Tiki Room catches fire https://t.co/6t7jy4xIRt
#10yrsago Interview with hacker anthropologist Biella Coleman https://t.co/uf1wSr4X4L
4/
#5yrsago Income inequality makes the 1% sad, too https://t.co/DYzjE2uRFz
#1yrago The bubbles in VR, cryptocurrency and machine learning are all part of the parallel computing bubble https://t.co/qWZmB7u1sD
5/
Inside: 20 years a blogger; Will Biden bust trusts?; and more!
Archived at: https://t.co/8eRWqssqXf
#Pluralistic
1/
20 years a blogger: Reflections on a lifetime of reflecting.
https://t.co/XyvbPirvhE
2/
It's been twenty years, to the day, since I published my first blog-post.
— Cory Doctorow #BLM (@doctorow) January 13, 2021
I'm a blogger.
Blogging - publicly breaking down the things that seem significant, then synthesizing them in longer pieces - is the defining activity of my days. https://t.co/lksXhU6HKM
1/ pic.twitter.com/9A3rj6ajZK
Will Biden bust trusts?: Obama's third term would be a disaster for antitrust.
https://t.co/FMc798VhI0
3/
Despite the massive triumphs of the world's largest corporations and most rapacious billionaires during the covid crisis, neoliberalism is in ideological retreat: more people are more critical of the idea that "free markets" can solve big problems than at any time in my life.
— Cory Doctorow #BLM (@doctorow) January 13, 2021
1/ pic.twitter.com/k11xGk2XzP
#10yrsago Disney World’s awful Tiki Room catches fire https://t.co/exhhsaAnzD;
#10yrsago Disney World’s awful Tiki Room catches fire https://t.co/6t7jy4xIRt
#10yrsago Interview with hacker anthropologist Biella Coleman https://t.co/uf1wSr4X4L
4/
#5yrsago Income inequality makes the 1% sad, too https://t.co/DYzjE2uRFz
#1yrago The bubbles in VR, cryptocurrency and machine learning are all part of the parallel computing bubble https://t.co/qWZmB7u1sD
5/
