"CEO Said A Thing!" Journalism "CEO said a thing!" journalism involves parroting the claims of a business leader or executive with absolutely no context, correction, or challenge whatsoever, no matter how elaborate the delusion.

karlbode.com/ceo-said-a-t...

Didn't care to find out. As Nietzsche said, "if you gaze long enough into an abyss, the abyss will gaze back into you."

I preferred the Friedman view - that "there is one and only one social responsibility of business—to ...increase its profits" www.nytimes.com/1970/09/13/a...

The state should do its job and pool the damn risk instead of burdening ordinary citizens, most of whom don't want this. I don't know if the political economy exists to get us from here to there, but if lefties are so desperate to nationalise something, they might want to look at pensions

True. But in the absence of a magic wand, this is a case for the triple lock: a steadily rising state pension reduces the cost to individuals of under-saving for their own private pension. (Also, that wand also would tell people how funds' charges compound over time!)

Andy Kershaw: Former Radio 1 DJ and Live Aid presenter dies aged 66 The broadcaster was known for his eclectic taste and for helping champion world music on BBC Radio 1.

Sad to see this. His shows in the 80s introduced thousands of us to great music we might well not have heard otherwise. www.bbc.co.uk/news/article...

'Staggering' I was not told Mandelson failed vetting, says Starmer The PM is facing calls to resign over the revelation that Lord Mandelson did not pass security checks.

"Almost all organizational structures tend to produce false images in the decision-maker, and...the larger and more authoritarian the organization, the better the chance that its top decision-makers will be operating in purely imaginary worlds" - Kenneth Boulding.
www.bbc.co.uk/news/article...

Yes. But are we saying that Mandelson's influence on Trump is such that he could have stopped him attacking Iran (his most damaging act for the UK)? If so, how? (Yes, the govt might not want to answer this!).

I'm all for amoral politics! But I'd still like the govt to spell out clearly what precisely those "talents" are & why they equipped him to be Ambassador. (Yes, I know it's a naive qn.)

I'd like someone from a govt point of view to explain why it was worth the risk of having Mandelson as US Ambassador - coz to an outsider the risks were much more obvious than his abilities relative to career diplomats.

Just got back from an NT live screening of Arthur Miller's All My Sons. Do yourselves a favour and go see it if you can. It's absolutely brilliant.

The cost of markets Companies exist because it's expensive to rely on markets. But it's expensive for individuals too.

New substack: markets, if they are to work for everyone, must be embedded in particular institutions and cultures. It’s far from clear that 21st century capitalism has these. chrisdillow.substack.com/p/the-cost-o...

Migrants are making false domestic abuse allegations to stay in the UK, BBC investigation finds In the third part of an undercover investigation, the BBC reveals how rules aimed at protecting abuse victims are being exploited.

It’s genuinely staggering how little substance there is to today’s instalment of the BBC’s attempt to create a national crisis out of a few unproven allegations of immigration fraud 1/

Thanks. Yes it should.

No. They don't measure the top 1% of incomes, where that might be a bigger issue.

One cheer for falling income inequality Income inequality has fallen slightly. This does not mean inequality isn't a problem.

New substack: income inequality has fallen slightly, but inequalities of power are a big problem: chrisdillow.substack.com/p/one-cheer-...

Yes but. In the 18th C sailors didn't learn to swim because if their ship sank it would only prolong their deaths. What matters is effective dissuasion. And the recent history of military procurement doesn't invoke confidence that we'd get that.

Yes. There's always a danger that a little learning can increase confidence more than wisdom or knowledge, especially when it follows admission to an "elite" university.

Energy shock 2.0: Lessons from 2022 for the Hormuz crisis If the Strait of Hormuz stays closed, Europe will face as serious an energy crisis as it did in 2022. This time, energy poverty policies must be more targeted, and electrification more ambitious.

Good this: www.cer.eu/insights/ene.... Calls for more military spending might be an example of the medieval doctrine of signatures. A better way to protect ourselves from people being dickheads in the middle east is investment in green energy rather than the military.

This poses the qn of how important debate is. One can see politics as transactions, the formation of coalitions of interests etc more than as a playing out of rational argument. But yes, argument should play some role.

I hate it when we go from "committee for managing the common affairs of the whole bourgeoisie" to "committee for managing the personal fixations of a small number of billionaires"

Why Britain shouldn't fear the rise of Chinese car imports The UK government believes the rise of China's car industry could be good for UK consumers and industry.

US: imposes tariffs on UK, forces up prices of oil & food.
China: sells good value cars.
Reform: China is a threat to the UK economy.
www.bbc.co.uk/news/article...

A slightly smug-looking man in tweeds, with a beard, looking at camera as he smokes (or poses with) a pipe

It’s the 78th anniversary of Oxford graduate (with a first), bestselling author, Fabian, public philosopher, after-dinner speaker, parliamentary candidate, and BBC radio ‘Brains Trust’ personality Cyril Edwin Mitchinson Joad monumentally fucking over his own career by being done for fare-dodging 🧵

Fanatics vs dilettantes Why the world needs fanatics

New substack: "Dilettantes and ironists might be more civilized people than fanatics, but, on their own, civilized people don’t defeat Nazis." chrisdillow.substack.com/p/fanatics-v...

Anyone confidently predicting that technological change will drain away the economic rent that a high value profession extracts needs to confront the obvious counterexample: finance.

It's taken 5%+ from the economy forever, even as computers, communications etc has constantly revolutionised it 3/

No.

Understanding MAGA This piece orginally appeared in the Times Literary Supplement and is reproduced with their permission.

New post out:

"Understanding MAGA"

I look at the four different strands that make up MAGA philosophy (such as it is), the contradictions between them, and whether it can survive as a movement post Trump.

(Free to read)

open.substack.com/pub/samf/p/u...

I'm shocked - shocked - to discover that somebody who supported fiscal austerity at the zero bound knows nothing about economics.

Yes. But this is part of a general problem - that we don't have a meaningful public realm is which there can be informed intelligent discussion.

Thanks. But that's the problem. We can all think of better incentives. The problem is that politicians won't vote for them.