BC SOCIETY
Saved by @CodyyyGardner

#DivisionOfLAbor, we love it! Except it *does* make it a lot harder to provide for our own wants directly. We live by exchanging and cooperating with others. (I.iv.1) #WealthOfTweets #SmithTweets

 #AdamSmith is too smart to think all this exchanging and cooperating got worked out easily from the very beginning. There must have been bumps in the road. (I.iv.2) #WealthOfTweets #SmithTweets
Butchers could have so much meat to trade with bakers/brewers that they could end up with an unusable surplus of bread/beer. That stalls trade. Smart people would work to have a supply of an always-useful trade item on hand. (I.iv.2) #WealthOfTweets #SmithTweets
(We, the SmithTweeters, have never encountered a surplus of bread or beer we couldn't handle. But let’s assume Smith knows what he’s talking about.) (I.iv.2) #WealthOfTweets #SmithTweets
This is how we get money, folks! We want a stable, always desirable, easily stored, and easily transportable thing we can trade for other stuff! (I.iv.2) #WealthOfTweets #SmithTweets
Cows were probably the earliest form of money, but it’s a lot easier to put coins and bills in your back pocket. Let’s not even talk about making change. (I.iv.3–6) #WealthOfTweets #SmithTweets
Many of the things that make a coin a coin were developed to prevent counterfeiting and theft—stamped surfaces, milled edges, and so on. But it’s still easier than weighing out piles of metal. Which is still easier than cows. (I.iv.7–8) #WealthOfTweets #SmithTweets
The minute you get princes and sovereign states involved, you know there’s going to be trouble. They corrupt the currency whenever they can get away with it, says Smith. (I.iv.10) #WealthOfTweets #SmithTweets
Now, after casually explaining the origin of money, Smith decides to just go ahead and define value while he’s at it. Why not? Just your average book chapter, really. (I.iv.13) #WealthOfTweets #SmithTweets #ValueHowDoesItWork
Value can mean usefulness or value can mean purchasing power. That’s “use value” and “exchange value.” (I.iv.13) #WealthOfTweets #SmithTweets #ValueHowDoesItWork
(Oh look! It’s the diamond/water paradox! That’s not famous, or anything. Told you this was just your average book chapter.) (I.iv.13) #WealthOfTweets #SmithTweets #ValueHowDoesItWork
Water has high use value. We all need it. But there’s so much of it that it has very little exchange value. Diamonds are the opposite. (I.iv.13) #WealthOfTweets #SmithTweets #ValueHowDoesItWork
Would you rather be as necessary as water🌊, or as rare as diamonds💎? (I.iv.13) #WealthOfTweets #SmithTweets
We think it’s very charming when Smith warns everyone that he might be about to get kinda boring, but it’ll all be worth it if you just stick with him. (I.iv.18) #WealthOfTweets #SmithTweets #BuckleUp
“I am always willing to run some hazard of being tedious in order to be sure that I am perspicuous.” It’s okay, Dr. Smith. We are here for the tedium *and* the perspicuity. Bring it! (I.iv.18) #WealthOfTweets #SmithTweets #BuckleUp

More from @AdamSmithWorks

@AdamSmithWorks
@AdamSmithWorks
@adamsmithworks
Today we're gonna talk about profits. They come from stock! #AdamSmith reminds us that stock is any resource paid for in advance when doing business. In general, profits and wages don't move together. (I.ix.1–2) #WealthOfTweets #SmithTweets

As stock goes up, there's more of it to employ more workers (by paying them or providing machines for them to work or both). This raises wages! But new stock competes with existing stock, which tends to lower profit. (I.ix.2) #WealthOfTweets #SmithTweets

If you thought figuring out the average wages of labor was complicated, don't even think about trying to figure out the average profit of stock. Basically impossible. Luckily, the rate of interest tends to vary with the profits of stock. (I.ix.3–4) #WealthOfTweets #SmithTweets

Lots of laws have tried to control interest rates and stop usury. They've all failed to do either. (I.ix.5–9) #WealthOfTweets #SmithTweets

Profits and wages rising together is unusual, but it happens. In particular, in new colonies. (I.ix.11) #WealthOfTweets #SmithTweets
TRADING , FINANCE
@AdamSmithWorks
@AdamSmithWorks
@adamsmithworks
OK! Who's ready to talk at great length and in great detail about prices? #AdamSmith, that's who! (I.v) #BuckleUp because this is the first of three chapters Smith prepped us for yesterday. (I.v) #WealthOfTweets #SmithTweets

We're about get into some #LaborTheoryOfValue. (I.v.1–18) We, the SmithTweeters, are firmly on board with the #MarginalRevolution (and we are fans of @MarginalRevolt). But Smith's theory is more complex than is often recognized. #WealthOfTweets #SmithTweets #ValueHowDoesItWork

The caricature version of the #LaborTheoryOfValue is that the longer you work on a thing, the more it must be worth. This is obviously wrong, and Smith (and Marx, btw) would agree that it's wrong. (I.v.1–18) #WealthOfTweets #SmithTweets

(We know this version of the #LaborTheoryOfValue is wrong because we once carved a giant statue of #AdamSmith out of haggis. Took us hours. No one wanted to buy it. Go know!)

Again: We think the #LaborTheoryOfValue as it's actually presented is wrong, too, but we should at least understand how it's wrong and where it's right. (I.v.1–18) #WealthOfTweets #SmithTweets
SOCIETY
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@AdamSmithWorks
@AdamSmithWorks
@adamsmithworks
Today, in #WealthOfTweets, more rude produce, #AdamSmith's opinions about Scottish Cheese, and, to be perfectly honest, an irresponsible amount of poop. #WealthOfTweets #SmithTweets

The second kind of rude produce is the kind humans can produce more of in response to demand. This includes stuff like sheep, 🐄🐄, and fruits & veg that farm well.(I.xi.l.1) #WealthOfTweets #SmithTweets

We don’t bother to cultivate this stuff until we reach a certain level of wealth because it reproduces well on its own. But as we get wealthier, we want more stuff and can pay for it, so it’s profitable to herd and farm these things. (I.xi.l.1) #WealthOfTweets #SmithTweets

But unlike the wild and rare stuff, there’s a limit on the price of this kind of produce, because when the price goes higher, we make more of it, which brings the price back down.(I.xi.l.1) #WealthOfTweets #SmithTweets

(We also find more profitable uses for, say, the wild grazing land, crowd the sheep out, and then *need* to cultivate them.) (I.xi.l.2) #WealthOfTweets #SmithTweet
FOR LATER READ
@AdamSmithWorks
@AdamSmithWorks
@adamsmithworks
#WealthOfNations I.ii is all about the secret sauce origin story: why does the division of labor happen in the first place? #AdamSmith illustrates (in part) with doggos to hold our attention. (I.ii.2,5) 🐶 #WealthOfTweets #SmithTweets #DoggosDontTrade

Divsion of labor, Smith said yesterday, is responsible for a whole heckuva lot. But who thought of it? Nobody! It's "not originally the effect of any human wisdom, which foresees and intends that general opulence to which it gives occasion." (I.ii.1) #WealthOfTweets #SmithTweets

There's no mastermind behind economic exchange, our "propensity to truck, barter, and exchange one thing for another" (I.ii.1) arises out of our natural tendency to persuade one another and better our condition. #WealthOfTweets #SmithTweets

Yeah, there's a lot in that first paragraph. #WealthOfTweets #SmithTweets

You know what's coming, right? 🍖🍻🍞 Butchers, brewers, bakers: they don't make us things because they love us. They're not our moms. (I.ii.2) #WealthOfTweets #SmithTweets
ECONOMY , GOVERNMENT
@AdamSmithWorks
@AdamSmithWorks
@adamsmithworks
Book II of #WealthOfNations! It's all about stock! Not the kind you fill with chicken and noodles, but the kind that (according to #AdamSmith) makes commercial society go 'round. (II.intro)
https://t.co/FlxQLGdjbW
#WealthOfTweets #SmithTweets

First! A quick review: without division of labor, every person must provide everything they need. No one accumulates or stores up stock. You do what you can with what you have when you have it. (II.intro.1) #WealthOfTweets #SmithTweets

But once the division of labor develops (remember, it’s the secret sauce!) we have so many wants that we can’t provide for them all ourselves. Most of them are provided for by others, and we purchase their labor with our own. (II.intro.2) #WealthOfTweets #SmithTweets

Here's why this all matters when we think about stock: we can’t purchase other people’s labor until we have completed (and been paid for) our own. So we need a stock of supplies to sustain us until we can finish our work and get paid. (II.intro.2) #WealthOfTweets #SmithTweets

Obviously, we need that BEFORE we start working in this way. So to get the division of labor you need the accumulation of stock. It’s an ingredient of the secret sauce. (All the best sauces are made with stock!) (II.intro.3)
https://t.co/wi1HtrmBPb
#WealthOfTweets #SmithTweets
TRADING

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Anthony B. Bradley
Anthony B. Bradley
@drantbradley
I'm teaching a class on race and after reading bell hooks we've moved on to @JohnHMcWhorter. Fact: liberals/progressives generally will never critique the poor moral choices of disadvantaged blacks and tend to blame black morality on "white racism." https://t.co/GEvSKupDox via

Meanwhile conservatives, generally, struggle to confess that Jim Crow was a (Christian) conservative movement. This is why we can't make any progress in 2020. The idea that black people *and* white people *both* have zero moral culpability on our past or present is fiction.

It's not "racist" for a white male to say black men in urban areas commit more crimes in their own neighborhoods and, therefore, are more likely to have contact with police. And it's false that men who commit violent crime & property crime are only doing so because of poverty.

Yes, evangelical Christians, in Jesus name, supported and defended Jim Crow, resisted integration, and struggle with white nationalism as an idol in 2020. Absolutely! Many of their pastors are cowards for never addressing or aiding and abetting it.

Yes, there are cultural patterns in disadvantaged black communities that are not derivative of white racism but emerge from the fact that black men & women, just like white men & women, chose, on purpose, actions that lack virtue & wisdom. Why? B/c all humans are morally flawed.
SOCIETY
GeePaw Hill
GeePaw Hill
@GeePawHill
Human, local, oriented, taken, and iterative, these are the change-harvester's bywords. In iterative change, we not only accept the reality of gradual stepwise refinement -- changing what we've already changed before -- we actually anticipate it and take advantage of it.

Before we begin: Folks, I know many are celebrating last week's results . I see them as one small pass towards the change I seek. Take a short break, then it's back to work?

Black lives matter.
Voting rights matter.
Women matter.

Stay safe, stay strong, stay angry, stay kind.

(And a *second* prefatory note: I've been not writing for six weeks. It was a combination of several factors, including illness, distraction, and the need to finish a gig. I'm happy to be back at content, now, but also very nervous. Bear with me while I regain my sea legs.)

With iteration, I think a great starting point for the concept is to watch just about any youtube video where a skilled artist draws a realistic rendering. What you will see almost inevitably is a direct implementation of iterative change.

The strokes begin quite broadly, faintly indicating the broad contours of the subject. Experience is relevant here: those who are most familiar with drawing that particular kind of subject, will make contours that seem "right" more quickly than those less experienced.
SOCIETY
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Wrath Of Gnon
Wrath Of Gnon
@wrathofgnon
A story of inappropriate technology: in the 1970s it was decided to modernize the rice farming of Sri Lanka, whose system that had not changed much for 3000 years. The goal was to replace the water buffalo with the modern tractor, but the attempt had disastrous consequences...


Buffalos create "wallows", pools of muddy water without which they cannot control their temperatures. Always filled with water, these wallows create many eco-services: in the dry season the become a haven for fish that then migrate back to the paddies when these fill with water.


The fish is a valuable source of proteins for landless laborers and greatly help control the population of malaria causing mosquitoes who breed in the rice paddies. The vegetation around the wallows are breeding and hunting grounds for snakes and water monitor lizards who prey...


...on rats that eat the rice and the crabs that burrow into the sides of the rice paddies eventually causing them to lose integrity, leading to collapses of entire paddy systems.


Without the water buffalo wallows, villagers no longer had a place to soak the palm fronds they needed to thatch their roofs, leading them to rely on locally made clay roof tiles, which caused massive deforestation as trees were cut down to fuel the tile kilns.
SOCIETY
NOT A DISCO DANCER || \u09b0\u09be\u099c \u09b6\u09c7\u0996\u09b0
NOT A DISCO DANCER || ...
@DiscourseDancer
Patriotism is an interesting concept in that it’s excepted to mean something positive to all of us and certainly seen as a morally marketable trait that can fit into any definition you want for it.+


Tolstoy, found it both stupid and immoral. It is stupid because every patriot holds his own country to be the best, which obviously negates all other countries.+

It is immoral because it enjoins us to promote our country’s interests at the expense of all other countries, employing any means, including war. It is thus at odds with the most basic rule of morality, which tells us not to do to others what we would not want them to do to us+

My sincere belief is that patriotism of a personal nature, which does not impede on personal and physical liberties of any other, is not only welcome but perhaps somewhat needed.

But isn’t adherence to a more humane code of life much better than nationalistic patriotism?+

Göring said, “people can always be brought to the bidding of the leaders. That is easy. All you have to do is tell them they are being attacked, and denounce the peacemakers for lack of patriotism and exposing the country to danger. It works the same in any country.”+
SOCIETY
Rob Ford
Rob Ford
@robfordmancs
Two things can be true at once:
1. There is an issue with hostility some academics have faced on some issues
2. Another academic who himself uses threats of legal action to bully colleagues into silence is not a good faith champion of the free speech cause


I have kept quiet about Matthew's recent outpourings on here but as my estwhile co-author has now seen fit to portray me as an enabler of oppression I think I have a right to reply. So I will.

I consider Matthew to be a colleague and a friend, and we had a longstanding agreement not to engage in disputes on twitter. I disagree with much in the article @UOzkirimli wrote on his research in @openDemocracy but I strongly support his right to express such critical views

I therefore find it outrageous that Matthew saw fit to bully @openDemocracy with legal threats, seeking it seems to stifle criticism of his own work. Such behaviour is simply wrong, and completely inconsistent with an academic commitment to free speech.

I am not embroiling myself in the various other cases Matt lists because, unlike him, I think attention to the detail matters and I don't have time to research each of these cases in detail.
SOCIETY

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In Academia, people aren’t always supported when they need it. I want to share what @WesternU did when my husband died right after the pandemic shutdown. It should be shared with other uni’s as a model for empathy and proactive care when someone is in crisis.
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MDZS is laden with buddhist references. As a South Asian person, and history buff, it is so interesting to see how Buddhism, which originated from India, migrated, flourished & changed in the context of China. Here's some research (🙏🏼 @starkjeon for CN insight + citations)

1. LWJ’s sword Bichen ‘is likely an abbreviation for the term 躲避红尘 (duǒ bì hóng chén), which can be translated as such: 躲避: shunning or hiding away from 红尘 (worldly affairs; which is a buddhist teaching.) (https://t.co/zF65W3roJe) (abbrev. TWX)

2. Sandu (三 毒), Jiang Cheng’s sword, refers to the three poisons (triviṣa) in Buddhism; desire (kāma-taṇhā), delusion (bhava-taṇhā) and hatred (vibhava-taṇhā).

These 3 poisons represent the roots of craving (tanha) and are the cause of Dukkha (suffering, pain) and thus result in rebirth.

Interesting that MXTX used this name for one of the characters who suffers, arguably, the worst of these three emotions.

3. The Qian kun purse “乾坤袋 (qián kūn dài) – can be called “Heaven and Earth” Pouch. In Buddhism, Maitreya (मैत्रेय) owns this to store items. It was believed that there was a mythical space inside the bag that could absorb the world.” (TWX)
RELIGION
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Erik Torenberg
Erik Torenberg
@eriktorenberg
1/ Some initial thoughts on personal moats:

Like company moats, your personal moat should be a competitive advantage that is not only durable—it should also compound over time.

Characteristics of a personal moat below:


2/ Like a company moat, you want to build career capital while you sleep.

As Andrew Chen noted:


3/ You don’t want to build a competitive advantage that is fleeting or that will get commoditized

Things that might get commoditized over time (some longer than


4/ Before the arrival of recorded music, what used to be scarce was the actual music itself — required an in-person artist.

After recorded music, the music itself became abundant and what became scarce was curation, distribution, and self space.

5/ Similarly, in careers, what used to be (more) scarce were things like ideas, money, and exclusive relationships.

In the internet economy, what has become scarce are things like specific knowledge, rare & valuable skills, and great reputations.
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@TheWiseOwl_AZ
1. There are more people added on the list of arrests and executions of famous people but no further intel is available at this time.

ARRESTS and EXECUTIONS OF FAMOUS PEOPLE 2020 UPDATED
Explanation of the latest military tribunal arrests and executions of famous people in 2020.

2. The tribunals are arresting these people in plain clothes. We saw the Obama’s arrest, although we didn’t know it was an arrest at the time. The arrest was done nonchalantly so as to not get noticed by the public.
All arrests of these famous people were done this way.

3. If the person is convicted of child sex trafficking, crimes against humanity or treason, they will be executed.
If the person arrested has evidence on someone else to help their prosecution, or is willing to help Trump, & they want to cooperate, they may be allowed to do so.

4. A sentence of execution down to life in prison may be accepted if their evidence is worth anything.
When a plea deal is done, the defendant must present evidence they have to make their sentence lighter. This information is given to the prosecution, defense, and to the judge.

5. If evidence is accepted, they are presented the plea deal. They will have to make a guilty plea to the crime with a video confession & written statement. That is how all plea deals work.

All famous people arrested were either treasonous or involved in satanic worship rituals.
CRIME
ThreadArchive33
ThreadArchive33
@ThreadArchive33
Made by NickHintonn 2 apr. 2018

Here’s a thread about The Black Tom explosion: a terrorist attack on American soil and major event in US history. However, no one has heard of it and I believe it’s proof that our timeline may be changing.


On July 30th, 1916, in Jersey City, German agents destroyed American ammunition supplies by setting them on fire. The incident is famous for causing damage to the Statue of Liberty.


The fires caused the ammunition supplies to explode, lodging fragments in buildings miles away including the Statue of Liberty and the clock tower of The Jersey Journal, stopping the clock at 2:12 am.


The explosion caused windows to shatter as far as 25 miles away, including thousands in lower Manhattan. Some window panes in Times Square were shattered. Even stained glass windows in St. Patrick's Church were destroyed.


The explosion was so strong is registered as a 5.5 earthquake on the Richter scale. It could be felt as far away as Philadelphia. The explosion cracked the outer wall of Jersey City's City Hall and the Brooklyn Bridge was shaken. People as far away as Maryland were woken up.
HISTORY