Nicholas Gruen
@NGruen1
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CEO Lateral Economics Promoting EQUALITY of speech through randomly selected citizens’ juries
Melbourne, Victoria
Joined May 2009
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Who is the most brilliant economist you've never heard of?
Martin Wolf making me blush
(And backing citizens’ juries)
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If the army helped out in a flood and didn't bring a camera, would anything have happened?
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The first disadvantage of an elite education, as I learned [when a plumber arrived at my house] that day, is that it makes you incapable of talking to people who aren’t like you. 1/5
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By the time the Baby Boomers hit a median age of 35, their generation owned 21 percent of the nation’s wealth. As of last year, Millennials—who will hit an average age of 35 in three years—owned just 3.2 percent of the nation’s wealth.
Quite a stat!
This long, nuanced, and insightful essay on the decline of social trust in US is very clear and important. Big picture.
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"The charges—38 of them—are a big deal. And before the GOP gaslighting reaches supernova levels, let’s also bear in mind that what Trump actually did is a big deal too."
Tom Nichols
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At the same time, because these schools tend to cultivate liberal attitudes, they leave their students in the paradoxical position of wanting to advocate on behalf of the working class while being unable to hold a simple conversation with anyone in it. 4/5
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Elite schools pride themselves on their diversity, but that diversity is almost entirely a matter of ethnicity and race. With respect to class, these schools are largely—indeed increasingly—homogeneous. 2/5
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President George Bush makes an important point about Hanukkah
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Visit any elite campus in our great nation and you can thrill to the heartwarming spectacle of the children of white businesspeople and professionals studying and playing alongside the children of black, Asian, and Latino businesspeople and professionals. 3/5
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Witness the last two Democratic presidential nominees, Al Gore and John Kerry: one each from Harvard and Yale, both earnest, decent, intelligent men, both utterly incapable of communicating with the larger electorate.
Classic article from 2008
5/5
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That the biggest debate Australia has had about its democracy in decades has been the symbolic one of replacing the Monty Python show from Buckingham Palace with an Australian head of state
Whereas citizens’ juries within our political system would powerfully renew it
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I give thanks pretty much every day to two features of Australian democracy
Preferable and compulsory voting
But especially today …
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Isn't it time for an alt-centre?
Democracy as we know it, is not the only form of representation
Thousands of years ago, Athenians selected a majority of their representatives by sortition i.e random selection
In the latest podcast,
@NGruen1
talks more about this alternate form of representation in Democracy
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Since I'm not too sure what happened between Britney Higgins and Bruce Lehrmann, perhaps I should pop onto Twitter to yell at someone else who doesn't know what happened
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Stunning reversals of China’s international standing owing almost entirely to Wolf Warrior and other malarky that was quite unnecessary to China’s real interests — for instance expanding in the South China Sea
In any event, Italy remained studiedly insouciant
HT
@Noahpinion
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Great line on
@simonahac
's Twitter profile
“I ask you to judge me by the enemies I have made.”
FDR
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@DeanBaker13
@Nouriel
Building a politics around the idea that a college degree is a precondition for dignified work and social esteem has a corrosive effect on democratic life.
Michael Sandel
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And lo a great pestilence came upon the land
And the people did suddenly start saying “lock-down” more than necessary
But the nation needed lock-downs
So it was a small price to pay
And lo the people wanted Norman Swan as Chief Medical Officer rather than the dud they had
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In case you’re feeling miserable about the state of the world
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The psychology of citizens’ juries
We discover the joy of our nature — that we evolved to solve problems in groups
And in the right circumstances we CAN’T HELP but get along sufficiently to do it
A great conversation with
@JoeTrippi
a month or so back
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I give thanks pretty much every day to two features of Australian democracy
Preferential and compulsory voting
But especially today …
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Why is the USA the greatest country on earth?
Because of good old American 2nd Amendment problem solving
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@rorysutherland
@nntaleb
Want a crash course on Michael Polanyi BY Michael Polanyi?
Listen to these lectures NOW!
Beautifully recorded in 1962 they’re a BLAST!
Those still in possession of a mind will have it BLOWN!
LISTEN TO THEM NOW!
(& I usually don’t use CAPS)
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Why it’s hard to design garbage bins for Yosememite
There’s considerable overlap between the intelligence of the smartest bears and the dumbest humans!
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There are some things which we can do without understanding what we are doing; locomotion and digestion, and even things with our minds, like recognizing a face. 1/2
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You know how the Germans have that perfect word for every occasion?
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"The liberal sees an assured progress towards freedom.
But the conservative sees a process of doom that started with dwindling authority, so after freedom lost the restricting limitations which protected its boundaries, became defenseless, bound for destruction"
Hannah Arendt
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In my investing experience there’s
* interest rate risk
* inflation risk
* currency risk
* liquidity risk
* project risk
* country risk and
* idiosyncratic risk
But real kicker is usually
FUCKWIT risk
Which is unfortunately never covered in the management books …
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Mountain Gorillas at an away day working on their mission statement, where they want to be in 10 years time and how they’ll get there
So far …
We want to be world class gorillas striving for better in everything we do
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@Noahpinion
"Bill O’Reilly was like the right-wing uncle — he makes you mad as hell but he tells you what he really thinks, and you can understand why he thinks it.
Watching Tucker is more like talking to ChatGPT; you just know there’s nothing behind the words"
@Noahpinion
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The economy isn't dead
It's just resting
Pining for the fiords
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You're visiting Auschwitz and you just can't help yourself …
You can't get your Instagram page out of your mind
It's such a great set for a selfie
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Extensive empirical research leads me to argue that instead, a core goal of public policy should be to facilitate the development of institutions that bring out the best in humans.
Elinor Ostrom, Nobel Lecture, 2009
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On the most important matter for which the UN was created—maintaining world peace—the Director General has nothing to say but platitudes
He has managed, late in the conflict, to effect one trip to Kyiv and one to Moscow
That's it
@BrankoMilan
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The riddle is not solved by such shifts; it is only formulated in other words. There remains to be explained how a nation of thirty-six millions can be surprised by three swindlers, and taken to prison without resistance
Marx on Louis-Napoléon Bonaparte
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A thought in the time of War
The philosopher John Macmurray reflecting on his rec leave from the trenches in 1917 observing some women handing out white feathers
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Just when you thought the world was going to hell, you realised it was doing so in an increasingly good handbasket
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"The good news, Mr President, is we can repair the Crimea Bridge."
"And the bad news?"
"We'll need your table."
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“Pygmalion’s frenzy,” Bacon wrote in 1605, offers a warning for researchers who “fall in love with a picture”
Thanks to
@natjdyer
for explaining Pygmalion's initial fear and disgust towards women
It seems the perfect myth for our fear of the wild foreignness of the other. 1/2
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“Only our concept of time makes it possible for us to speak of the Day of Judgment by that name; in reality it is a summary court in perpetual session.” — Kafka
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More out of touch than ever in the 20 years I’ve attended Davos.
From the Saudi café, branded with the name of Crown Prince Mohammed bin Salman, who ordered the murder of Jamal Khashoggi to the socialite telling a Ukrainian official to “keep it short”.
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“That which can be destroyed by the truth should be.”
P. C. Hodgell
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Tweet Deck is now a lot shitter than it was, but at least it's had a name change …
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I have a great app I want someone to design
It listens into everything you say, and then turns to the camera and says what you have just said — just like a journalist covering the election
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A rollicking good read — I promise!
Paul McCartney's freakish memory
by Ian Leslie
@mrianleslie
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There is not going to be a Brexit dividend or a levelling of the regions. Exporters are not finding New Zealand adequate compensation for an internal market of 500mn people.
The one promise that Brexiters kept
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Imagine if we could have a culture that revered science and yet was mesmerised less by reductionism — the technique by which science made its early giant steps for mankind — but by that other, more meaningful aspect of reality that science helps uncover: the emergence of the
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"In the UK in 1965, the most common age of death was in the first year of life. Today the most common age to die is 87 years old."
@MartinWolf_
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The people are fickle; it is easy to persuade them about something, but difficult to keep them persuaded
Niccolò Machiavelli
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Pity Scott Adams is a Trumpist fruitcake — he’s certainly a funny guy
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Great grab from Ricky Gervais
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"A generation ago, business lending was a third of UK pension funds’ assets. Today it is less than 2 per cent. There has been no new net lending to UK companies by UK banks since 2008."
Andy Haldane
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All those things we do TOGETHER that mostly get ignored in traditional analytic philosophy
It’s no coincidence she’s a WOMAN!
Annette Baier "Doing Things With Others: The Mental Commons".
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There goes Adolf Eichmann's “Holocaust Mr Nice Guy” reputation
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"When lobbyists think they have public opinion on their side, they talk about democracy; when they don't, they talk about leadership."
Lindsay Tanner
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Good news about a good policy
Investors in Melbourne are selling up at the highest rate of any of our major capital cities to avoid hefty property taxes, which has led to falling prices across the city
good
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“The problem with prediction markets is that they are the irritating precocious young child, entirely unfiltered socially, and yet forever talking about the elephants in the room that it may or may not be appropriate to talk about.”
@RobinHanson
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Coming next …
The Palgrave Handbook of German Idealism, Feminist Philosophy and Tourism Studies
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Wake up and smell the crazy
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Resisting evil by force
Is it Christian?
Interesting question
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Correlations between climate scepticism and left-right political ideology
Hornsey, Harris, & Fielding, 2018, Nature Climate Change
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unless it is absolutely clear to the American people that the costs and risks of doing so are truly essential for their security and prosperity.
Hugh White, Sleepwalk to War 3/3
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Listen to "Idols of the modern mind: stragisation, thematisation and theorisation". ⚓
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“Nowhere else on Earth could a kid with a stutter from modest beginnings" become president
Well, most liberal democracies actually, but let's not be picky at a time like this
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“To elect Donald Trump as president once may be regarded as a misfortune; to elect him twice looks like carelessness.”
@MartinWolf_
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Though in some ways perhaps not an ideal model for the Bank of England Financial Policy Committee, the Committee of Public Safety showed in its short life – two hectic years from foundation to collapse – that policy committees can make a difference
Martin Taylor, MPC member 2017
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Lovely short piece by Martin Wolf on the best party in his life
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Nothing to see here folks
And now is not the time to see it
Tuesday could see a few December heat records falling in NSW. A fair bit of Sydney will hit 42C or warmer too. Perhaps more 'catastrophic' fire danger ratings too:
@BOM_au
@weatherzone
@NSWRFS
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I enjoy using the Free Thesaurus
But can anyone point me to a thesaurus I can do an ‘advanced search’ on like
“Synonyms for ‘knowledge’ + starts with “B” or “Ex” or “has two or more syllables” etc?
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Across the ethnic chasms
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I have no idea who these people are, but if they want me to change my password every 90 days, it’s best we part company
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"
A funny thing about ideology is that it’s difficult to confine it to where it’s useful."
Dan Davies
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Whoda Thunk?
SHOCK!!
Economists views of HOW the economy works align almost perfectly with how they think it SHOULD work
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Neoliberalism: what is it good for?
Find out by listening to me and
@GeneTunny
on my occasional podcast
Uncomfortable collisions with reality
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Four times each year the RBA reaches peak stupid by re-setting the cash rate the day BEFORE it gets access to a new set of national accounts
Like yesterday
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Amongst other things, the reason Melbourne has trams and other cities don't. They all ran down their infrastructure in the 1930s and so faced big decisions as cars burgeoned in the 1950s. Monash headed up Melbourne's Board of Works and maintained the tram network …
Today we remember one of the greatest figures in Australian History, the late General Sir John Monash, who was born on the 27th June 1865. We honour and celebrate his legacy and commitment to Australia.
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When our period's history is written
@martinwolf_
will appear among the Nations of the Truthtellers
Those rare souls who despite their respectability — the maintenance of which usually requires speaking guardedly towards power — spoke truth instead
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"Tucker is like an algorithm, doing a brute-force grid search over the space of things that it’s possible to get people mad about, optimizing for attention and money
@Noahpinion
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"NDAs were used by the Coalition government, but their use has escalated during the Albanese government’s term in areas such as NDIS reforms, industrial relations, environmental law and social welfare."
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"I loathe living with the revelation that so many fellow citizens celebrate Trump's authoritarian viciousness in which, as Adam Serwer put it, the “cruelty is the point.”"
@brianklaas
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"People who answer "yes" in opinion polls asking if they would be prepared to pay higher taxes for better government services are actually answering a different question. That is, should someone else pay more tax so I can get better services?"
Lindsay Tanner
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