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1/People I know on the Right tend to be obsessed with the idea of "crimethink", taboos, and the (supposedly) oppressive, omnipresent enforcement of liberal cultural norms.

Why?

My new theory: A lot of it is guilt.

 2/It's true that in some circles - the media, universities, many big corporations - liberal norms *are* enforced to some degree, and the enforcement has probably gotten stronger in recent years.

But I don't think this explains all of the Right's obsession.
3/The stereotype is that people on the Right tend to be more threat-sensitive. That would help explain the perception that liberal norm-enforcers are lurking everywhere, ready to pounce and anathematize anyone who makes a misstep.

But I don't think that's all of it either.
4/And of course, it's always fun - whether you're on the Right or the Left, or playing a video game, or whatever - to style yourself as the brave iconoclastic rebel fighting against the oppressive forces of blah blah blah.

But I don't think this is all of it, either.
5/The reason I think it's more than these things is that even *in private*, people on the Right express their "crimethink" ideas very gingerly and hesitantly.

I get the sense that they're not just afraid of external censure, but have also internalized liberal norms.
6/I think many people on the Right aren't just ashamed to *say* some of the things they believe, but ashamed to *believe* them. They're often their own strictest policeman.

In other words, we're not just a "shame society", we're a "guilt society" as well.
7/BUT, I also think that the idea of ubiquitous PC, or liberal thought police, or The Cathedral, etc., allows people on the Right to avoid confronting their feelings of shame over some of their own non-egalitarian beliefs.

It lets them externalize the locus of control.
8/"How dare you not let me say this in public?!" thus functions as a distraction from the more uncomfortable thought of "OMG, do I really believe this??".
9/Anyway, this is just broad-brush amateur psychoanalysis, so don't put too much stock in it, but I just wanted to put this thought out there.

To the extent this is true, it means liberals' power to make the Right feel more comfortable is limited.
10/Weakening the enforcement of liberal norms in public discourse would come at a cost (those norms are there for a reason!), but the benefit might be smaller than the Right would like to imagine.

It will not assuage guilt.

(end)

More from Noah Smith

Noah Smith
Noah Smith
@Noahpinion
To be honest, I think this is just the effect of Twitter.

If you're on Twitter all the time - as every political commentator now is - it's easy to think that whiny, big-talking Twitter slacktivists are "the Dems".

But what's happening out there on the ground?


This is another reason I think Twitter is so bad for society.

It convinces intellectuals and commentators that practically everyone who's on their side is an extremist.

Which makes them tolerate extremism out of a (false) feeling of necessity.

If you stay on Twitter too much (which we all do now), you start to think that the typical left-of-center person is some British wanker who quote-tweets "Imagine thinking this" to anyone who doesn't like the idea of "ending capitalism".

But he is not typical.

A majority of Americans are not on Twitter.

But *every* journalist, commentator, and intellectual *has* to be on Twitter.

So every journalist, commentator, and intellectual comes face to face with big-talking slacktivist faux-extremists day in and day out.

It's a problem!!

Online bubbles full of shouty faux-extremists are, in general, fine.

The difference is that every journalist, commentator, and intellectual is essentially forced to exist in THIS bubble, because their jobs require it.

Twitter is a dystopian technology.

(end)
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Noah Smith
Noah Smith
@Noahpinion
1/OK, I should really write another thread about university-centric regional development, because I think people often make some (very understandable) mistakes when thinking about this issue.

2/The biggest myth, I think, is that universities help regions by educating locals as undergraduates.

Skeptics of universities say: "But most of the people who graduate end up leaving."

3/In fact, most of what a university does for a regional economy is NOT about educating local kids.

Educating local kids is good for the nation, but doesn't help a region much.

The way a university helps a region is through

4/Undergraduates usually leave town after graduation.

But university RESEARCH pulls in OTHER smart people from other regions, and they stay there.

Here's a paper showing that this is the main way universities increase a region's human capital:

5/Research also pulls in business investment.

Companies want to partner with university labs, so they can commercialize the technologies the labs produce. So they invest in the labs, and sometimes they even put their offices in the town.
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Noah Smith
Noah Smith
@Noahpinion
"Competitive wokeness", like "virtue signaling" and "preference falsification", seems to be something people on the right say in order to pretend that people on the left don't really believe what they claim to believe.


Basically we have a whole bunch of ways of saying "You can't possibly believe that!!". Which helps us avoid the terrifying fact that yes, people generally do believe it.

Of course, "believe" doesn't mean what it means in econ class. It means that people get a warm feeling from asserting something, even if they don't know what it means. "God is omnipotent", etc.

A lot of times we believe extreme things, simply because asserting those things all together in a group gives us a warm feeling of having an army on our side.

It's not competitive wokeness. It's COOPERATIVE wokeness.

"Virtue signaling" isn't fake or pretend. It's real.

"Virtue", when it comes right down to it, means membership on a team.

Sometimes, to prove you're on a team, it helps to say something people on the other team could never bring themselves to say.
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Noahtogolpe \U0001f407
Noahtogolpe 🐇
@Noahpinion
1/Today in @bopinion, I talk about the legacy and career of Jim Simons, the founder of Renaissance Technologies, who is stepping down as the hedge fund's

2/Simons' fund beat the market -- consistently, by huge percentages, after fees.

That's an astonishing

3/How did he do it?

Basically, by being relentlessly smarter and better-managed than the competition.

4/So does Simons' success mean markets are inefficient?

Yes and no.

Obviously yes, since Renaissance could (and can) beat the market. But there are a few key caveats...

5/First of all, RenTech's most eye-popping and consistent returns are in its flagship Medallion Fund.

But most investors can't invest in that fund. It doesn't take your
GOVERNMENT
Noah Smith
Noah Smith
@Noahpinion
Today's @bopinion post is a review of the excellent new book "The Gift of Global Talent: How Migration Shapes Business, Economy & Society", by

This is an excellent, short, highly readable, very important book. Every business executive and politician should have a copy.

Why are skilled immigrants so good, and so important?

Because they're the backbone of high-value industries where the U.S. has a dominant position.


If we don't bring skilled immigrants to the United States, high-value industries will migrate to other countries, and America will lose industrial dominance and be a poorer country.


Contrary to popular belief, skilled immigrants - including H-1b workers - RAISE wages for native-born skilled workers.

Why?

Because downward wage pressure from competition is more than canceled out by the upward wage pressure from CLUSTERING.
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Dr Fish Philosopher Todd (Dr FPT)\U0001f41f
Dr Fish Philosopher To...
@ZoeSTodd
1. I was walking in the woods yesterday and I had an epiphany. It wasn’t one I wanted to have. I was thinking about today’s class, where we are reading Kimmerer’s ‘Gathering Moss’. I’ve taught Braiding Sweetgrass in multiple classes every year since 2016. It’s eminently teachable

2. Both books are beautifully written. Students uniformly enjoy them as assigned reading. They do a great job communicating to non-Indigenous folks the contours of basic Indigenous relationships to more-than-human beings. They’re wildly popular with white readers.

3. I’ve found Braiding Sweetgrass to be a great entry point for non-Indigenous folks to Indigenous scholarship. But this is where yesterday’s epiphany comes in. Neither Braiding Sweetgrass or Gathering Moss tends to the deep deep lineages of Indigenous scholarship in Canada or US

4. As the popularity of ‘Braiding Sweetgrass’ has soared, I’ve seen more and more white folks wax on about ‘braiding knowledge’. But they often don’t know any of the lineages of these concepts beyond what is presented in this one book. They confidently run with this.

5. Kimmerer does a commendable job of weaving in her own experiences, her family stories+nods to some very important knowledge keepers who deserve to be celebrated for their work. But Braiding Sweetgrass does not tend to the citational politics Sara Ahmed & others teach us about
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Eileen May
Eileen May
@suleskerry
Joanna Cherry:"Alex Salmond secured a concession that nothing in Scotland Act would preclude the people of Scotland from subsequently choosing an independent future. This is recorded in Hansard during second reading of Referendums (Scotland & Wales) Bill, May 21, 1997."

Donald Dewar said: “I should be the last to challenge the sovereignty of the people, or deny them the right to opt for any solution to the constitutional question they wished. For example, if they want to go for independence, I see no reason why they should not do so." JC

"In same debate Alex Salmond went on to emphasise that “… the Claim of Right referred to sovereign right of the Scottish people to determine a form of Govt best suited to their needs. It did not suggest sovereignty resides with English Members of Parliament." Joanna Cherry

Joanna Cherry: "Donald Dewar articulated the democratic norm later enshrined in the Edinburgh Agreement. His concession laid the foundation for the 2014 referendum in recognising the rights of Scots to choose whether to remain part of our voluntary union with England."

"I am wholly in agreement with view that we must find a legal & constitutional way to demonstrate that public opinion in Scotland has changed since 2014 referendum, in order for our independence to be internationally recognised & therefore meaningful." Joanna Cherry
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Noah Smith
Noah Smith
@Noahpinion
1/OK, data mystery time.

This New York Times feature shows China with a Gini Index of less than 30, which would make it more equal than Canada, France, or the Netherlands. https://t.co/g3Sv6DZTDE

That's weird. Income inequality in China is legendary.

Let's check this number.

2/The New York Times cites the World Bank's recent report, "Fair Progress? Economic Mobility across Generations Around the World".

The report is available here:

3/The World Bank report has a graph in which it appears to show the same value for China's Gini - under 0.3.

The graph cites the World Development Indicators as its source for the income inequality data.


4/The World Development Indicators are available at the World Bank's website.

Here's the Gini index: https://t.co/MvylQzpX6A

It looks as if the latest estimate for China's Gini is 42.2.

That estimate is from 2012.

5/A Gini of 42.2 would put China in the same neighborhood as the U.S., whose Gini was estimated at 41 in 2013.

I can't find the <30 number anywhere. The only other estimate in the tables for China is from 2008, when it was estimated at 42.8.
SOCIETY
Cory Doctorow #BLM
Cory Doctorow #BLM
@doctorow
When it's railroading time, you get railroads.

When the railroads turn into the personal satrapies of rail-barons, you get trustbusters.

A couple decades ago, it was online service time. We had the users, the telcoms systems, the computers, the modems, so we got platforms.

1/

We had that, but we lacked something important: effective antimonopoly enforcement. Lax merger laws allowed companies with access to capital markets to buy out or neutralize all their competitors, so we got monopolies.

Right on schedule, we're getting digital trustbusters.

2/

Now, some people aren't technically sophisticated, but they do understand a lot about competition law. That's how you get meat-and-taters antitrust proposals like @amyklobuchar's #CALERA, which address the structural problems with antitrust

Klobuchar's bill is hugely important. The reason we have monopolies is that we stopped enforcing anti-monopoly law 40 years ago. Monopoly isn't a tech problem, it's everywhere from sneakers to glass bottles to pro wrestling to candy to

Klobuchar's CALERA doesn't just seek to apply antitrust law to tech - it also explicitly restores the pre-Reagan basis for fighting monopolies: we fight monopolies because they concentrate power and corrupt our politics. All monopolies are guilty unless proven otherwise.

5/
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Hollywood
Hollywood
@J_MoAGoGo
Overall I think Labour will be a bit disappointed with how the ‘relaunch’ has started. Labour have given themselves a mountain to climb anyway through a year of inaction but the speech today lacked coherence, purpose and distinction from the government.

Starmer is (funnily enough) making a lot of the same mistakes Corbyn made in 2019. He is listing a ‘bold’ set of policy proposals that come across as disjointed and lacking connection to Britain’s priorities.

The policies themselves were basically good, I wouldn’t argue against them. But I would cringe whenever Labour came out with spending proposal after spending proposal in 2019 without any rationale or connection to a larger economic strategy. That’s what Starmer did today.

The questions that voters will have about Starmer’s speech are the same ones that voters will have had about Corbyn’s 2019 manifesto: why are these policies your priority, how can we afford them and why aren’t we doing these already?

The first one needs to be answered by diagnosing Britain’s problems and their causes. He doesn’t have to diagnose all of them. For the purpose of today he could have picked three that feed off each other: inequality, stagnant income growth and stagnant productivity.
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Here is the detailed information of about strategy,

Entry time : 9.30 - 10
Exit : Upto you

Strategy :
Sell weekly ATM CE & PE at almost equal price
For ex : Sell Nifty 17250 CE at 50 and Nifty 17250 PE at 48 so it will become short straddle

Buy monthly ATM or near ATM CE & PE at matching price (5-10 points diff should be fine) as hedge
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Weekly Short straddle + Monthly Long straddle

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• If you feel slightly bullish/bearish then no adjustment needed
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• If Nifty moves one side or about to breach BEP then add equal amount of lot. This can balance tested side. For ex: If I bought 17300 CE 4 lot as hedge then add 4 lot so you will have only one side risk . Note: Remember to keep SL at cost price (only for additional lot bought)

Capital requirement:
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Note : High risk high reward strategy, please don’t execute until you fully understand. Kindly do paper trading or backtest.
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