Tag: John Maynard Keynes

Cybernetics and the Banality of Narcissism

Mark Davis1 Comment

The unalloyed stupidity of reckless tariffing and threats by the Trump administration against trading partners and allies around the world is baffling and deeply concerning. Even when a serious economist admits that tariffs can play a role in helping onshore manufacturing, they also slam the uncertainty that Trump’s mercurial behavior imposes on the world economy. Then there is the childish lashing out at universities, law firms, and perceived enemies like the former director of the US Cybersecurity and Infrastructure Security Agency who contradicted Trump in 2020 on election fraud. Next we have the cruelty of rapid and wrong deportations and visa revocations based on alleged allegiances; freedom is no longer guaranteed for visitors and guests in our country. And then there are the oxymoronic efforts at efficiency in governance that involve no efforts whatsoever to identify how exactly to make our government more efficient.

This is the banality of narcissism aided by incompetence.

But, mercifully, the counter-currents that are pushing the country away from an economic catastrophe demonstrate the self-correcting nature of complex systems. The term “cybernetics” comes from the Ancient Greek term for the steersman of a boat. It was used by the French polymath Ampère in a volume dedicated to the structure of human knowledge where it referred to the science of governance. Ah, the Age of Enlightenment, when some hoped that through careful thought ideas like economics, government, and international relations could be improved. If only David Ricardo were here today to discuss his theory of comparative advantage with America’s leadership. Governance was in mind when Norbert Wiener invented the theory of cybernetics as a mathematical approach to system control where feedback signals steer the system towards stable patterns of operation.… Read the rest

Theories of Leisure, Past and Future

Mark DavisLeave a comment

img_0028I am at leisure. Specifically—and many may not regard this as leisure—I just ran 17.71 miles in Yosemite Valley. I dropped the car along the road near the 41 junction and then just started running. I went south for a while, then circled back to Bridalveil Falls (lightly flowing), then up to the Glacier Point loop, then back down to El Capitan, then up to Yosemite Falls (not flowing). Lunch was at the Village and then I tracked down the car again.

Now, then, I am at leisure. The barman has set me up with a martini. I have a Fresno Fig flatbread on the way: goat cheese, bacon, arugula, and the critical figs. I am showered all the way down to between my toes. The late afternoon light is filtering through a mild haze onto the muddy belly of the lake. There must be bass out there somewhere. Let the bass live. Let them be at leisure.

A must-read on this topic is Derek Thompson’s Atlantic article, The Free-Time Paradox in America. I don’t agree with the thesis, though. It’s not really a paradox. It’s just an unknown. You should read Derek’s original, but I will comment briefly on some of his points. He argues that John Maynard Keynes forecast a reduction in work requirements by the 21st Century. Mechanization would take the drudgery out of most things and we would get to 15 hour work weeks with the management of our leisure time an increasing burden on us.

The present didn’t work out that way.

Instead, educated high-earners work ever harder. The only leisure class is the non-college-educated male youth who don’t work much these days but instead play video games (75% of their spare time) and are happier than when more of them worked.… Read the rest