so, who defends the Jones Act?
the thing about art is that it was never about the artifact, but about how people choose to relate and organize themselves around the artifact. provenance, or at least perceived provenance, will not be irrelevant to those choices.
the behavior of the most prominent and financially successful businessman in America is maybe putting some pressure on the moderate sensible pro-business liberal niche.
Moses brings the Ten Commandments,
@akkartik i lend you money: nonbank credit
a bank lends you money: bank credit
increasingly nonbank investment funds are lending money, rather than buying equity or things that might convert to equity. “private credit” rather than “private equity”. 1/
@akkartik but what are the implications of that? less regulated “shadow banking” arrangements got a bad rep during GFC. what if private lenders lend badly? are their stakeholders prepared and capable of bearing the risk? might the “run” in some destabilizing way? /fin
explosives to delight us rather than to exterminate us. i suppose that it is a good start. happy new year.
@yrabbit i guess i didn’t read it as blame, but i’d have to reread it. my view is China’s done what it’s done, it’s been an incredibly effective development policy for China. if the US or Europe didn’t like its knock-on effects we had every capability of imposing restrictions in goods or capital markets. blaming China for policy success seems dumb to me, tho i do blame my own government for how it responded (or failed to respond) to changing conditions. https://www.interfluidity.com/v2/540.html
@ZaneSelvans yes! regulation is not a scalar. it can be well arranged or poorly done, not “more” or “less”. “deregulation” is just a move to regulate according to some default the deregulator tendentiously defines, or thinks that courts will embrace.
turning “the right” and “the left” into tribes into which you sort people, rather than just a really simplified, pretty weak, way of classifying ideas and positions, is just another way minoritarian interests divide and conquer.
the system under which firms like Boeing were built is very different from the system under which firms like Boeing have been dismantled, even though both systems get called “capitalism”.
i don’t agree with this piece’s predictions and prescriptions, but its account of the profound change in systems under notional capitalism is excellent. https://americanaffairsjournal.org/2024/11/america-china-and-the-death-of-the-international-monetary-non-system/ ht #TimSahay
[new draft post] Segmentation fault https://drafts.interfluidity.com/2024/12/31/segmentation-fault/index.html
@scott who is endangering my freedom fries.
the enemy of your frenemy is what now?
just because you disagree with someone and their poast doesn't mean they are the person you want to spend a lot of fighting with and taking down. you have better targets than that. and the person whose post you dislike is with you against those better targets.
boxing without regulation is just beating. what is commerce without regulation?
there isn't anything in this world that is free to read. reading taxes readers' time and attention. it's a miracle they sometimes let themselves be taxed in money on top of that.
Freddie DeBoer says nice things about my sister's book. https://freddiedeboer.substack.com/p/2024-in-review
am i crippling my child's future life chances by discouraging narcissism and mendacity?
Organizing leadership by seniority is an important part of the incumbency bias of US Congressional elections.
Voters understandably choose representatives that will have influence over representatives who will not. Under seniority-based leadership rules, only incumbents have influence.
"I was just following market forces" is the new "I was just following orders"