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Going Galt....

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Anonymous...
Posted: Tue Apr 28, 2009 1:56 pm
Guest
What would you tell Atlas to do, with
the weight of the world on his shoulders?

"Shrug"

http://drhelen.blogspot.com/2008/10/going-john-galt.html

Get free food, medical care, free cash, etc.
Don't work as hard. Take those stored up
vacation days.

Go Galt.
 
Anarcissie...
Posted: Wed Apr 29, 2009 8:22 am
Guest
In article
<04fea8b6c5d63dd1ab909b3d92b9daa0 at (no spam) mixmaster.nymu.eu>,
Anonymous <nobody at (no spam) nymu.eu> wrote:

Quote:
What would you tell Atlas to do, with
the weight of the world on his shoulders?

"Shrug"

http://drhelen.blogspot.com/2008/10/going-john-galt.html

Get free food, medical care, free cash, etc.
Don't work as hard. Take those stored up
vacation days.

Go Galt.

It's pretty funny that Randians think Ayn Rand invented
slacking.

But anyway, welcome to the club, folks.
 
James A. Donald...
Posted: Thu Apr 30, 2009 8:48 pm
Guest
Anarcissie
<anarcissie at (no spam) gmail.com> wrote:
Quote:
It's pretty funny that Randians think Ayn Rand
invented slacking.

The underlying Randian theory is that if the elite slack
off, the masses will be impoverished - that countries
are rich and poor according to whether their elite is
productive, and the rest do not matter much.

There has been a large fall in GDP:

The Keynesian explanation of this fall is inadequate
aggregate demand - the economy could easily produce
more, but no one is spending due to depression of animal
spirits, in which case a big spending government will
make everything rosy.

The Austrian and Chicago explanation is complicated, and
perhaps confused.

The Randian explanation is that it is Galt Strike - the
elite are slacking off, and focussing on hiding their
wealth and economic activities, rather than creating
value.

If the Keynesian explanation of this fall in GDP
(inadequate aggregate demand) is correct, then
government stimulus will fix it. If the Randian
explanation (Galt Strike) is correct, then stimulus will
merely cause inflation..

Cpi excluding energy will in time tell us which account
is correct. We will know by about November 2010

If late in 2010 cpi excluding energy is substantially
higher, nominal GDP substantially higher, but real GDP
still woeful, then Randians will have been proven
correct.

If late in 2010 cpi excluding energy is lower or
unchanged, then both sides can argue they were right,
and the Austrians will probably have some explanation
that I will be disinclined to follow.

If late in 2010 cpi excluding energy only rises
slightly, but real GDP rises substantially, then
Keynesians will have been proven correct.

I am betting on disturbing levels of inflation excluding
energy with a distinctly unimpressive recovery in real
GDP.

--
----------------------
We have the right to defend ourselves and our property, because
of the kind of animals that we are. True law derives from this
right, not from the arbitrary power of the omnipotent state.

http://www.jim.com/
 
Bert Hyman...
Posted: Fri May 01, 2009 8:20 am
Guest
In news:n0nkv4dmp5445eatpo3ssus8406kccdo76 at (no spam) 4ax.com James A. Donald
<jamesd at (no spam) echeque.com> wrote:

Quote:
The underlying Randian theory is that if the elite slack
off, the masses will be impoverished - that countries
are rich and poor according to whether their elite is
productive, and the rest do not matter much.

It's not at all that they "do not matter much".

The majority of people around the world, regardless of how hard they
work, will simply not come up with the major inventions, discoveries and
innovations that keep the wheels of civilization moving.

--
Bert Hyman St. Paul, MN bert at (no spam) iphouse.com
 
James A. Donald...
Posted: Sat May 02, 2009 7:42 pm
Guest
On Sat, 02 May 2009 10:35:12 -0400, Anarcissie
<anarcissie at (no spam) gmail.com> wrote:
Quote:
The Soviet Union suffered a devastating economic
collapse after it tried to convert to capitalism.
Before that, it was grinding along, inferior to the
West in production-consumption, but hardly collapsing.

Before communism, Russia was a major power economically.
Shortly after the communists took power, it suffered
total absolute and devastating economic collapse, which
it partially remedied by making failure to comply with
the plan a criminal offense, even if the failure was
higher up in the supply chain, thereby motivating able
people to go forth and fix up the oversights of the
planners:

Go ye, get you straw where ye can find it: yet
not ought of your work shall be diminished.

So the people were scattered abroad throughout
all the land of Egypt to gather stubble instead
of straw.

And the taskmasters hasted them, saying, Fulfill
your works, your daily tasks, as when there was
straw.

Of course, for this to work, required a fairly high
level of terror. When the terror eased up, the lights
began to go out over Russia.

Quote:
The problem here is that the masses' savings are going
to melt away. So maybe the real Atlas, the masses,
will shrug and go on strike.

The failures of socialism cast doubt on the proposition
that the masses are the real atlas - though the real
atlas might be at a lower level than the tiny elite
envisaged by Rand. The statistical evidence suggests
that the real Atlas is that portion of the population
with an IQ higher than 105
<http://www.google.com/search?q=%22smart+fraction%22> -
a large minority, rather than the tiny minority
envisaged by Rand, but still a minority.

--
----------------------
We have the right to defend ourselves and our property, because
of the kind of animals that we are. True law derives from this
right, not from the arbitrary power of the omnipotent state.

http://www.jim.com/
 
*Anarcissie*...
Posted: Sun May 03, 2009 7:44 am
Guest
On May 2, 9:42 pm, James A. Donald <jam... at (no spam) echeque.com> wrote:
Quote:
On Sat, 02 May 2009 10:35:12 -0400, Anarcissie

anarcis... at (no spam) gmail.com> wrote:
The Soviet Union suffered a devastating economic
collapse after it tried to convert to capitalism.
Before that, it was grinding along, inferior to the
West in production-consumption, but hardly collapsing.

Before communism, Russia was a major power economically.
Shortly after the communists took power, it suffered
total absolute and devastating economic collapse, which
it partially remedied by making failure to comply with
the plan a criminal offense, even if the failure was
higher up in the supply chain, thereby motivating able
people to go forth and fix up the oversights of the
planners:

        Go ye, get you straw where ye can find it: yet
        not ought of your work shall be diminished.

        So the people were scattered abroad throughout
        all the land of Egypt to gather stubble instead
        of straw.

        And the taskmasters hasted them, saying, Fulfill
        your works, your daily tasks, as when there was
        straw.

Of course, for this to work, required a fairly high
level of terror.  When the terror eased up, the lights
began to go out over Russia.

Revolutions and civil wars are not very good for
productivity!

Quote:
The problem here is that the masses' savings are going
to melt away.  So maybe the real Atlas, the masses,
will shrug and go on strike.

The failures of socialism cast doubt on the proposition
that the masses are the real atlas - though the real
atlas might be at a lower level than the tiny elite
envisaged by Rand.  The statistical evidence suggests
that the real Atlas is that portion of the population
with an IQ higher than 105
http://www.google.com/search?q=%22smart+fraction%22> -
a large minority, rather than the tiny minority
envisaged by Rand, but still a minority.

But IQ, if it means anything at all (doubtful)
has little or nothing to do with productivity
of any sort in most fields. In fact it may distract
people into actively destructive fields, like law or
mass media. Rand's heroes, being capitalist
entrepreneurs, _require_ there to be a lot of
dumb people around so that they can be
exploited for their labor power.

Rand's view of a tiny elite somehow causing
everything to happen is curiously fascistic,
It goes along with her totalitarian style and
contradicts her liberal principles. Very odd.
 
James A. Donald...
Posted: Sun May 03, 2009 8:05 pm
Guest
"*Anarcissie*":
Quote:
The Soviet Union suffered a devastating economic
collapse after it tried to convert to capitalism.
Before that, it was grinding along, inferior to
the West in production-consumption, but hardly
collapsing.

James A. Donald:
Quote:
Before communism, Russia was a major power
economically. Shortly after the communists took
power, it suffered total absolute and devastating
economic collapse, which it partially remedied by
making failure to comply with the plan a criminal
offense, even if the failure was higher up in the
supply chain, thereby motivating able people to go
forth and fix up the oversights of the planners:

Go ye, get you straw where ye can find it:
yet not ought of your work shall be
diminished.

So the people were scattered abroad
throughout all the land of Egypt to gather
stubble instead of straw.

And the taskmasters hasted them, saying,
Fulfill your works, your daily tasks, as when
there was straw.

Of course, for this to work, required a fairly high
level of terror.  When the terror eased up, the
lights began to go out over Russia.

"*Anarcissie*"
Quote:
Revolutions and civil wars are not very good for
productivity!

The real disaster got going when the civil war ended,
which disaster forced a retreat to the NEP, which
retreat the Trots bitterly opposed, thinking that the
problem could simply fixed by more vigorous application
of terror and torture.

Then they faced the problem of how to get from NEP back
to socialism - every move away from the NEP towards
socialism led to disaster. The solution turned out to
be to force people to apply their ingenuity and
creativity by demanding that bricks be made irrespective
of whether straw was supplied, so that the central plan
was made to work by illegal activities, gray market
activities, and black market activities, and in the case
of the military plan, by armed hijackings - a solution
similar to, but more sophisticated, less brutal and more
orderly, than that proposed by the Trotskyists.

The story that the Soviet Union was working fine, and
the switch to capitalism a disaster, was never true.
Even when it worked, the process was chaotic, violent,
cruel, and did not work well.

James A. Donald:
Quote:
The statistical evidence suggests that the real
Atlas is that portion of the population with an IQ
higher than 105
http://www.google.com/search?q=%22smart+fraction%22
- a large minority, rather than the tiny minority
envisaged by Rand, but still a minority.

"*Anarcissie*":
Quote:
But IQ, if it means anything at all (doubtful) has
little or nothing to do with productivity of any sort
in most fields.

The national longitudinal survey of youth, a study run
by the US military, took people's IQ scores when they
were in school, and followed up to see how well they did
over time - to see what various indicators showed about
young people's potential.

IQ turned out to be a fairly good predictor of a wide
variety of outcomes, from staying out of jail to making
decent money.

Of the variables observed by the NSLY the ones that
mattered much were IQ and being raised in an intact
family. People with good IQ score raised in an intact
family did well on average regardless of race or
parental socioeconomic status - that is to say the
average for people with good IQ good family, and poor
parental socioeconomic status was very similar to the
average for people with good IQ, good family, and
good parental socioeconomic status

People with low IQ and broken home did badly on
average regardless of parental race and socioeconomic
status.

For smart people from broken homes, race and
socioeconomic status made a difference, but if you are
controlling for IQ and intact family status, the
differences caused by race and socioeconomic status are
modest, and you have to split the data suspiciously
finely to find them.

If parental socioeconomic status causes a difference in
outcomes, then it has to cause higher IQ scores.
However, when we randomly assign children to families,
we find that within the range of families eligible to
adopt in America, parental socioeconomic status causes
no difference in the success of children - that children
assigned to a high socioeconomic status family did no
better than children assigned to a low socioeconomic
status family.
<http://www.google.com/search?q=%22What+Happens+When+We+Randomly+Assign+Children+to+Families%22>

Thus the reason that the apparent inheritance of
socioeconomic status shown in the NLSY largely
disappears when we control for IQ score is that parental
socioeconomic status has little effect, that children
inherent from their parents the inner personal
characteristics that enabled their parents to succeed.

--
----------------------
We have the right to defend ourselves and our property, because
of the kind of animals that we are. True law derives from this
right, not from the arbitrary power of the omnipotent state.

http://www.jim.com/
 
*Anarcissie*...
Posted: Mon May 04, 2009 6:51 am
Guest
On May 3, 10:05 pm, James A. Donald <jam... at (no spam) echeque.com> wrote:
Quote:
"*Anarcissie*":
...
The story that the Soviet Union was working fine, and
the switch to capitalism a disaster, was never true.
Even when it worked, the process was chaotic, violent,
cruel, and did not work well.

Well, I'm just going by what ex-Soviet citizens tell me.
You can get a fine argument going about the goodness
and badness of the Soviet Union going among them
easily enough, but when they get excited they start
babbling in Russian and Ukrainian and I can't
understand them.

Russia's transition to capitalism was particularly
unfortunate in that it was influenced by Larry Summers.
Did you read "How Harvard Lost Russia", by David
McClintick? I think you can still find a copy of it on
the Net, although the magazine it was published in,
Institutional Investor, probably wants money for it.
January 2006. Try this:
http://jboy.chaosnet.org/misc/docs/articles/shleifer.pdf

It's a fascinating story, like a Russian novel. And
now that Larry Summers is once again possessed
of high office, perhaps he can do for the United
States what he did for Russia!

Quote:
The statistical evidence suggests that the real
Atlas is that portion of the population with an IQ
higher than 105
http://www.google.com/search?q=%22smart+fraction%22
- a large minority, rather than the tiny minority
envisaged by Rand, but still a minority.

"*Anarcissie*":

But IQ, if it means anything at all (doubtful) has
little or nothing to do with productivity of any sort
in most fields.

The national longitudinal survey of youth, a study run
by the US military, took people's IQ scores when they
were in school, and followed up to see how well they did
over time - to see what various indicators showed about
young people's potential.

IQ turned out to be a fairly good predictor of a wide
variety of outcomes, from staying out of jail to making
decent money.

Of the variables observed by the NSLY the ones that
mattered much were IQ and being raised in an intact
family. People with good IQ score raised in an intact
family did well on average regardless of race or
parental socioeconomic status - that is to say the
average for people with good IQ good family, and poor
parental socioeconomic status was very similar to the
average for people with good IQ, good family, and
good parental socioeconomic status

People with low IQ and broken home did badly on
average regardless of parental race and socioeconomic
status.

For smart people from broken homes, race and
socioeconomic status made a difference, but if you are
controlling for IQ and intact family status, the
differences caused by race and socioeconomic status are
modest, and you have to split the data suspiciously
finely to find them.

If parental socioeconomic status causes a difference in
outcomes, then it has to cause higher IQ scores.
However, when we randomly assign children to families,
we find that within the range of families eligible to
adopt in America, parental socioeconomic status causes
no difference in the success of children - that children
assigned to a high socioeconomic status family did no
better than children assigned to a low socioeconomic
status family.
http://www.google.com/search?q=%22What+Happens+When+We+Randomly+Assig...

Thus the reason that the apparent inheritance of
socioeconomic status shown in the NLSY largely
disappears when we control for IQ score is that parental
socioeconomic status has little effect, that children
inherent from their parents the inner personal
characteristics that enabled their parents to succeed.

But _outcomes_ are different from productivity.
Outcomes may simply mean one person is better
at conning, cheating, or defeating other people
and taking their stuff, which is what a lot of
business is about. And as I think I said before, a
high IQ, assuming it means anything, may simply
serve to draw its owner, however virtuous, away
from actually productive work to a useless or
destructive career like law, high finance, real
estate, the mass media, or professional politics.
 
 
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