@NGruen1 Suppose I wanted to drop a footnote: "If my editors would let me, here I would also trace the current of 20th-century thought and action for which Michael Polanyi, born in 1891 in Budapest, is a convenient marker: how society needs not just the decentralized... 1/
...mercenary institution of the market and definitely does not need comprehensive central planning (which can never be more than a fiction), but needs as well decentralized fiduciary institutions, focused on advancing knowledge about theory and practice, in which status is... 2/
...gained by teaching and learning from others—institutions like modern science, communities of engineering practice, communities of legal interpretation, honorable journalism, evidence-based politics, and others—and in which people follow rules that have been half-... 3/
...constructed and half-emerged to advance not just the private interest and liberties of the participants but to advance the broader public interest and public liberties as well."

And at the end of that I would drop a reference to where people should go to read further... 4/
...what would the single best reference to drop be? 5/END

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More from @delong

26 Jul
<polanyi.bme.hu/folyoirat/1997…>

Judit Zapor: _Laura Polanyi 1882-1957: Narratives of a Life_: ‘Although we have no way of confirming the actual steps she had taken, it seems that Laura Polanyi had been instrumental in her daughter [Eve]`s eventual release [from the Soviet GULAG]... 1/
...no small feat, given the times and circumstances. As an unintended by-product, Eva Striker's imprisonment served as the inspiration for her childhood friend, Arthur Koestler`s novel, _Darkness at Noon_. The series of subsequent dramatic events included Laura Polanyi's... 2/
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26 Jul
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Kari Polanyi-Levitt on her mother, Ilona Duczynska:

"My mother [born in 1897] was a student of engineering in Zurich in 1915, when she was befriended by a community of representatives of the Russian Social Democratic Party opposed to the war... 1/
...including Lenin, his wife Krupskaya and Angelica Balabanoff. Together with delegations from Germany, France, and Britain, as well as other European Labour and Socialist parties, they met to draft a program of action against the war, known as the Zimmerwald Declaration... 2/
...As an 18-year-old Hungarian-speaking student unknown to any informant, Ilona was entrusted with delivering this call to action to the leaders of the Social Democratic Party in Vienna. When she presented herself to these gentlemen, they took one look at her and told her... 3/
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25 Jul
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First: ‘[Tomas] Philipson praised Mr. Trump’s economic instincts as “on par with many Nobel economists I have worked with at Chicago”… but… “weak advisers” excluded “good advice by the CEA…”’

If the advisors were “weak” how were they able to... 1/
...keep Tomas Philipson out of the room? And if Tomas Philipson really thinks Trump by himself has “instincts” “on par with many Nobel economists”, doesn’t that say that economists are unnecessary for Trump to waste his time listening to—that he already knows what they... 2/
...have to say? And if Tomas Philipson is as big a liar as I think he is, what reason is there to believe that the world would be a better place if he were allowed into the Oval Office ever?

And even if it is cult-membership dynamics, I can understand why a careerist... 3/
Read 7 tweets
25 Jul
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Listen now | Noah Smith & Brad DeLong's 30:00 < [Length of Weekly Podcast] < 60:00:

Key Insights: —There are a great many reasons to fear that the rise of industrial and post-industrial economic concentration is doing serious harm to the market... 1/
...economy’s (limited) ability to function as an efficiency-promoting societal calculating mechanism.
—None of these have yet been nailed down.
—But the neo-Brandeisians will have their chance because of the striking misbehavior of the tech platforms, which have thought... 2/
...too much about how to glue their users’ eyeballs to the screen so they can be sold ads and too little about how to make users and others happy and comfortable with their business models.
—That is, the neo-Brandeisians will have their chance to the extent that they are... 3/
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18 Jul
braddelong.substack.com/p/briefly-note…

First: We are a half-vaxxed country. And a country that looks like it is going to stay half-vaxxed: there is just too much money to be made by media grifters and too much political hay to be made by right-wing politicians seeking to win the Trump... 1/
...base for vaccination rates in the country as a whole to get above 50% before the Delta Variant sweeps through.

This is a catastrophe.

While hiking in Claremont Canyon earlier last week, I found myself to Andy Slavitt’s podcast. Andy had been one of the most positive... 2/
...influences on the rolling what-to-do-about-coronavirus debate. Yet I found it extremely disappointing to listen to:

On one of the podcasts I listened to he had as his guest Trump FDA Commissioner Scott Gotlieb. Gotlief had been one of the best of the Trump political... 3/
Read 25 tweets
17 Jul
braddelong.substack.com/p/briefly-note…

First:

This is, I think, 100% correct:

Ken White: ’1. The First Amendment and Section 230 let private companies like Twitter and Facebook choose how to moderate their sites. 2. American free speech rights are exceptional and protect a very large... 1/
...amount of speech many of us would agree is dangerous or harmful. That broad protection helps insulate speech from political and ideological urges to censor. 3. But the government has a leadership function as well as a governing one. Part of leadership is praising good... 2/
...behavior and condemning bad behavior, in hopes that people will do the right thing, without the coercion of law. 4. Facebook has a right to make money off of this alarming and deadly disinformation. But that doesn’t make it the right thing to do. Just as Americans have... 3/
Read 6 tweets

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