Tag Archives: Business

There’s a Green Card-holder at the heart of Greek philosophy

By David V Johnson – A state that, without due process, simply ignores the rights and obligations it has extended to that legal resident makes a serious breach of its moral authority and the rule of law.

This is why the state’s treatment of its non-citizen legal residents – its visa-holders and permanent resident aliens – can say as much about its health as its treatment of citizens.

The idea that the non-citizen resident is crucial to diagnosing the state’s health is evident in Plato’s Republic.

In the course of the Republic‘s 10 books, Socrates offers a considered analysis of justice and the ideally just state. It can be simplified to one principle: justice is reason ruling.

When rationality rules in government, the state is just. Similarly, when rationality governs the emotions and desires of the soul, a person is just.

When reason fails to rule, whether in the state or the person, injustice obtains. more> https://goo.gl/oTURh3

The Republican Health-Care Bill Is Not Designed to Actually Work

By Jonathan Bernstein – In other words, it’s not exactly designed to pass and become a law that actually works.

Speaker Paul Ryan might get the necessary 218 Republicans to close their eyes, hold hands, and jump over a cliff in order to get the bill to the Senate. It’s still unlikely that the bill will pass in the Senate, where Republicans have a much slimmer majority. And that majority includes some senators who simply won’t vote for significant cuts in Medicaid, since that would mean stripping health care away from people (voters!) who currently have it.

Indeed, the bill is hardly certain to pass the House, where many Republicans want (among other things) much deeper Medicaid cuts.

So, as Ezra Klein asks, what’s the point? What’s the problem the bill is supposed to solve? more> https://goo.gl/uDcmwc

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When Bankers Started Playing With Other People’s Money

By William D. Cohan – On April 10, 1970, nearly a year after first filing its IPO prospectus with the SEC, DLJ pulled it off, raising $12 million from the public and as a result fundamentally altering how Wall Street has functioned ever since. “Going public changed Wall Street permanently and forever,” Richard Jenrette (the J in DLJ) told the Times.

On April 10, 1970, nearly a year after first filing its IPO prospectus with the SEC, DLJ pulled it off, raising $12 million from the public and as a result fundamentally altering how Wall Street has functioned ever since. “Going public changed Wall Street permanently and forever,” Richard Jenrette (the J in DLJ) told the Times.

The truth was going public made perfect sense for DLJ and the many Wall Street firms—nearly every one—that followed its lead.

The problem is that the country is still dealing with the unintended consequences of the DLJ IPO to this day. And, of course, back in 1970, very few people, if any, were paying attention to what a small private partnership on Wall Street was trying to do to change the system. And honestly, the importance of the DLJ IPO has still not been fully appreciated. But it was a seminal event.

Ultimately, the unintended consequences of the DLJ IPO would be devastating. In October 1970, Weeden & Co. followed DLJ’s lead and went public. Then the floodgates opened. more> https://goo.gl/z6MzwK

Your Brain as Laboratory: The Science of Meditation

By John Yates +- an define science as the systematic study of the natural world through observation and experiment, yielding an organized body of knowledge on a particular subject. The human mind is undeniably a suitable subject for scientific study, and one purpose of meditation is careful observation of one’s own mind.

This observation reveals consistent patterns that meditators share with one another and with teachers who direct their practice.

However, meditation is not simply passive observation, nor could it be, since the very act of observation is itself an activity of mind. Rather the meditator intentionally employs attention, awareness, and other mental faculties in a variety of ways to better understand the functional behavior of the mind. more> https://goo.gl/Pp47U6

What is global history now?

By Jeremy Adelman – To understand what global history was, it helps to understand what it was supposed to eclipse.

It used to be that, in the US, history departments had their cores in American and/or European fields; in Canada, Australia and Britain, the nuclei were also national. History meant the history of the nation, its peoples and their origins. When social and cultural history came along, it changed the subject from presidents or prime ministers to Hollywood or garment workers. But the framework remained mostly national; historians still wrote books about the making of the English working class, or the conversion of peasants into French citizens. There might be a smattering of East Asian or Latin American historians in the mix.

Often, they were cordoned into regional studies units, or lumped – as in my home department at Princeton – as ‘non-Western historians’, defined by their fundamental difference, there to embellish but not challenge the national canon.

By the 1980s, it was no longer foregone that the Rest was synonymous with decline, or the West with rise. The Rest, to some, became the new threat to define the purpose of the West.

No sooner did historians catch the glottalization wave with fancy new courses, magazines, textbooks and attention, than the wave seemed to collapse. The story changed. A powerful political movement arose against ‘globalism’. White-supremacists and Vladimir Putin fans from the Traditionalist Worker Party in the US proclaim as their slogan that ‘Globalism is the poison, nationalism is the antidote.’ Donald Trump put it only a bit more mildly. ‘Americanism, not globalism, will be our credo,’ he thundered to cheering Republicans in his convention speech in July 2016. more> https://goo.gl/OAj1lI

Exponential growth devours and corrupts

By David Heinemeier Hansson – It’s through this exponential lens that eating the world becomes not just a motto for software at large, but a mission for every aspiring unicorn and their business model. “Going viral” suddenly takes on a shockingly honest and surprisingly literal meaning.

The goal of the virus is to spread as fast as it can and corrupt as many other cells as possible. How on earth did such a debauched zest become the highest calling for a whole generation of entrepreneurs?

It used to be that successful, upcoming companies would show a prudent mix of present-day profits and future prospects, but such a mix is now considered old-fashioned and best forgotten. Now it’s all potential, all the time.

Because the core assumption is that growth is always good, growth is always unlimited, and if you’re not growing you’re dying. Swim or sink, no wading.

Which is why growth is now everything and residual value is nothing. In fact, the latter can be outright harmful to the former. When you’re being priced on the hopes and dreams of potential, reality can be a dangerous and undesired competitor. Best just to appeal to the exponential curve and let the imagination roam free. An epic capital gains score awaits! more> https://goo.gl/HWN3au

Trump is right to criticize NAFTA—but he’s totally wrong about why it’s bad for America

BOOK REVIEW

The Mexican Shock, Author: Jorge Castañeda.

By Jeff Faux – Will he deliver on this pledge? No.

But the reason is not, as the conventional economic wisdom has it, because outsourcing work to low-wage countries is the inevitable result of immutable global forces that no president can reverse.

The problem for American workers is not international trade, per se. America has been a trading nation since its beginning. The problem is, rather, the radical new rules for trade imposed by NAFTA—and copied in the myriad trade deals signed by the US ever since—that shifted the benefits of expanding trade to investors and the costs to workers.

Trump is right that the 1994 agreement with Mexico and Canada displaced US jobs—some 850,000, most of which were in manufacturing. But he is wrong in his claim that American workers lost out to Mexican workers because US negotiators were outsmarted. The interests of workers were never a priority for either American or Mexican negotiators.

NAFTA was the first important trade agreement that reflected the dramatic realignment of economic class interests across national borders. The globalization of corporate finance, production, and marketing has disconnected the interests of investors and workers throughout the world. more> https://goo.gl/anxVjL

Want to Make a Lie Seem True? Say It Again. And Again. And Again

By Emily Dreyfuss – The facts don’t actually matter: People repeat them so often that you believe them. Welcome to the “illusory truth effect,” a glitch in the human psyche that equates repetition with truth.

Marketers and politicians are masters of manipulating this particular cognitive bias—which perhaps you have become more familiar with lately.

President Trump is a “great businessman,” he says over and over again. Some evidence suggests that might not be true.

So what’s going on here? “Repetition makes things seem more plausible,” says Lynn Hasher, a psychologist at the University of Toronto whose research team first noticed the effect in the 1970s. “And the effect is likely more powerful when people are tired or distracted by other information.” So … 2017, basically. more> https://goo.gl/D5eOfK

A New Reason for Foreigners to Avoid Google and Facebook

By Leonid Bershidsky – A Philadelphia court has made the unfortunate decision to reopen the legal debate on whether the U.S. has the right to access e-mails stored on foreign servers if they belong to U.S. companies.

That’s a dangerous approach that hurts the international expansion of U.S. tech companies. Privacy-minded customers in Europe are already suspicious of the U.S. government’s cooperation with the tech giants, revealed by National Security Agency leaker Edward Snowden. Nationalist politicians in some countries — for example, Marine Le Pen of the French National Front — want to ban cross-border personal data transfers, arguing that such data must be stored on servers inside the internet user’s country. That, however, does not appear to guarantee that the U.S. won’t get at it, either.

Those who are uneasy about the degree of the U.S. government’s reach into their private files and communications need to start thinking about alternatives, no matter how hard it may be to replace Google, Microsoft or Facebook. more> https://goo.gl/a1hqfP

A Blunt and Counterproductive Travel Ban

By Mohamed A. El-Erian – As designed and implemented, there are genuine doubts about the order’s effectiveness in meeting its stated objective of preventing terrorism. It also risks a lot of collateral damage and unintended consequences that ultimately could prove counterproductive and harmful to national security, the economy, and America’s moral authority, values and standing in the world. Even the order’s merits as a domestic signal are in doubt, and it risks damaging the credibility and effectiveness of future policy initiatives from the White House.

This is an extremely blunt approach to an important issue. Early reports on its application suggest that even long-time holders of multiyear visas for the U.S., together with green card holders and dual nationals, are being refused entry at airports or being prevented from boarding planes destined for America. This includes people who have been living in the U.S. legally for many years, have been vetted, and are productive and integrated members of their local communities. more> https://goo.gl/sljXfS

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