So why is Mr. Sanders pushing to legislate a 32-hour workweek? Amusingly, the senator argues his legislation is necessary because “the financial gains from the major advancements in artificial intelligence, automation, and new technology must benefit the working class, not just corporate CEOs and wealthy stockholders on Wall Street.” The irony is these very gains in artificial intelligence are making the 32-hour workweek possible for so many employees—without legislation.
Speaking of Bernie Sanders, Boston Globe columnist Jeff Jacoby isn’t impressed.
This truth identified by Arnold Kling is important:
Thus, we arrive at my explanation for naive realism, or as I prefer to describe it—the belief that social problems have simple solutions. People who espouse such a belief appear to care deeply about a social problem. Instead, if I recognize the complexity of the problem, then I appear not to care as much about it.
When people equate simplistic thinking with caring more about the problem, simplistic thinking is socially rewarded. And because you are not personally making life choices based on your beliefs about social problems, a simplistic view that is wrong does not cost you anything.
GMU Econ alum Dominic Pino casts his clear gaze on coffee-shop labor unions.
Nicolás Cachanosky points out “a credibility dilemma in Milei’s economic plan.”
Samuel Gregg reports that “China’s economic facade is cracking”. A slice:
Dismal demographics isn’t the only challenge with which China must grapple. The country is reaping the whirlwind of conscious decisions on Beijing’s part over the past 15 years to embrace more state-centric economic policies.
Take, for instance, China’s much touted Belt-and-Road Initiative (BRI). Since 2013, Beijing has sought to systematically promote and invest in infrastructure projects around the world, particularly in countries China considers geopolitically significant.
From its beginning, however, BRI has been characterized by runaway costs: so much so that, as early as 2015, state-run Chinese banks started reducing their exposure to BRI while Chinese commercial banks began trying to avoid it altogether. There is also evidence that BRI has long been marred by corruption on the part of those Chinese officials responsible for directing it.
Lockdowns. Six-foot social distancing. Closed schools. In retrospect, all unnecessary. “Follow the science” doesn’t work when the “science” is unreliable. Same for politicians. Rep. Adam Schiff (D., Calif.) talked up Trump-Russia election collusion again and again, then refused to release transcripts of Obama administration officials testifying under oath that they’d seen no evidence of it. It turns out this unreliability is a promotable offense—Mr. Schiff is leading in the race to be California’s next senator.
Elon Musk helps Kulvinder Kaur.
Kevin Bass tweets: (HT Jay Bhattacharya)
Covidianism is not science. It is an identity cult.
Disavowing it is not a disagreement. It is a betrayal.
