Steve Randy Waldman
@interfluidity.com

“the difference between your legs and your judgement is that when your legs stop working, you’re immediately aware of the fact.” @dsquareddigest.bsky.social backofmind.substack.com/p/the-most-i...

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the most important number: and why we won't get it

the most important number

Link Preview: the most important number: and why we won't get it
Steve Randy Waldman
@interfluidity.com

Is The Pope Catholic?

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Steve Randy Waldman
@interfluidity.com

tax dollars are not fungible.

Steve Randy Waldman
@interfluidity.com

maybe there's some relationship between vibecession and the ubiquity of dystopian fiction.

Steve Randy Waldman
@interfluidity.com

quite a way to put it! but yes, with the caveat that catholics keep their rich liturgy and intensive communions, but take on a more complicated relationship with hierarchy. not the protestant (evangelical) personal relationship with God, but also not the top-down hierarchy of rome. 1/

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Steve Randy Waldman
@interfluidity.com

contingent hierarchies, elevated from beneath, neither slave to grass-roots passions nor insulated from accountability to members. (if that sounds like plain Madisonianism, sure, but maybe that's more tractable among self-selecting communities of interest than a mass public.) /fin

in reply to self
Steve Randy Waldman
@interfluidity.com

oddly, i think it's "the partisan". but in a world where political parties are genuine membership organizations defined by thick, face-to-face human ties, shared values + interests, and an organization that employs people with competence in policy and politics to further those values + interests.

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Steve Randy Waldman
@interfluidity.com

our revealed collective preferences are at least as much a function of how we aggregate them as they are a function of underlying individual preferences. the "will of the people" always depends upon how we are asked, for the same people and preferences can cover a tremendous range of difference.

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Steve Randy Waldman
@interfluidity.com

sure! fair enough! i just worry that the shorthand leads to a kind of pessimism, a belief we are fundamentally terrible people rather than badly organized people. the latter can be ameliorated by better institutions. the former maybe not.

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Steve Randy Waldman
@interfluidity.com

makes it particularly remarkable that they were willing to take on a pretty big cohort of students at Florida-state-school salaries. sometimes people do do the right thing, even when it costs them.

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Steve Randy Waldman
@interfluidity.com

* tuitions...

in reply to self
Steve Randy Waldman
@interfluidity.com

it's almost nobody's preference, revealed or otherwise, to prefer their own unemployment to inflation. 1/

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Steve Randy Waldman
@interfluidity.com

when you say "people" here, you are describing an artifact of a particular procedure for aggregating preferences. 2/

in reply to self
Steve Randy Waldman
@interfluidity.com

as we currently aggregate preferences electorally, the near-universality of the dispreference for even a moderate inflation overrides a much more intense dispreference for own-unemployment or unemployment risk that is concentrated over a small share of the public. 3/

in reply to self
Steve Randy Waldman
@interfluidity.com

a social welfare function more consistent with your and my moral intuitions would prefer a moderate inflation to devastating the lives of a sizable minority of the population. 4/

in reply to self
Steve Randy Waldman
@interfluidity.com

there's nothing wrong with "people" or "the people" in this. people are supposed to vote their values and interests, not be philosopher kings who've given complex policy abstractions deep thought. 5/

in reply to self
Steve Randy Waldman
@interfluidity.com

most people can't adjudicate the policy tradeoffs between inflation and unemployment risk, whether policy is calibrated to trade-off those risks in a way that accords with their moral values. they can perceive their own pain. 6/

in reply to self
Steve Randy Waldman
@interfluidity.com

our problem, in most things, is that our electoral system basically doesn't allow people to vote non-cartoonish values. neither D or R can make a "trust me, we'll devote policy competence to adjudicating this moral dilemma in a manner consistent with your values and respectful of your interests." 7/

in reply to self
Steve Randy Waldman
@interfluidity.com

so each of us votes our own pain (or pleasure), regardless of the intensity of others' pain and pleasure, and the social-welfare-function that gets maximized prefers, in an arithmetically obvious way, concentrated pain over shared burden. /fin

in reply to self
Steve Randy Waldman
@interfluidity.com

Hampshire was the school that let New College of Florida students transfer in to escape the DeSantis/Rufo fascist takeover of the school. No good deed goes unpunished. #NewCollege

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Steve Randy Waldman
@interfluidity.com

in the same way that JD Vance is the reincarnation of Athena. bsky.app/profile/inte...

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Steve Randy Waldman
@interfluidity.com

i’m thinking of standing up an astrology vertical.

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Steve Randy Waldman
@interfluidity.com

what if people lie when they talk about themselves — stiff upper-lip, pride, all of that — and when you ask them about others they are free to project their actual experience?

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Steve Randy Waldman
@interfluidity.com

i’m not smarter. i just write poorly. imagine if the block were a lemon. what would you be making?

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Steve Randy Waldman
@interfluidity.com

you just squeeze the blocks into a pitcher of water and add sugar.

Steve Randy Waldman
@interfluidity.com

the new athena.

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Steve Randy Waldman
@interfluidity.com

a thing economistic people need to think about more is most people are closer to suicide than to starvation. what gets conventionally measured as poverty is not the binding constraint on most people’s welfare. can we quantify what is? i don’t know. but it’s not what we’re quantifying.

Steve Randy Waldman
@interfluidity.com

the asset wealth escalator, which for those without a house or assets represents the rate at which you are falling behind, has not slowed, at least in the US. (this might be the year for it though, careful what you wish for.)

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Steve Randy Waldman
@interfluidity.com

i think it has to do with the timing of our disappointment. things fell apart after we had fully internalized unipolar-moment optimism. the world is getting better and better and you're a loser if things aren't working out for you. 1/

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Steve Randy Waldman
@interfluidity.com

the millennials had solidarity in collapse, everyone knew everything was broken by the time they reached early adulthood, and they collectively complained and complained and complained in cacophony about it. 2/

in reply to self
Steve Randy Waldman
@interfluidity.com

we were already atomized into adulthood, fundamentally alone, and our intuitions had been formed during an earlier era. many of us are living lives far less grand than what we'd expected would come easily. that merges easily into a fascist-adjacent narrative, somebody stole your birthright. /fin

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