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Geriatric Gardener“Corbyn is being smeared again – this time to stop protests against genocide”by Jonathan Cook on Substack <a href="https://a.gup.pe/u/palestine" class="u-url mention" rel="nofollow noopener noreferrer" target="_blank">@palestine</a> <a href="https://a.gup.pe/u/israel" class="u-url mention" rel="nofollow noopener noreferrer" target="_blank">@israel</a> <a href="https://mastodon.cloud/@UKLabour" class="u-url mention" rel="nofollow noopener noreferrer" target="_blank">@UKLabour</a> “I was an eyewitness to events on Saturday. The Metropolitan force are lying when they argue the ex-Labour leader and John McDonnell MP forced their way through a police cordon”<a href="https://open.substack.com/pub/jonathancook/p/corbyn-is-being-smeared-again-this?r=27oltk&utm_medium=ios" rel="nofollow noopener noreferrer" translate="no" target="_blank">https://open.substack.com/pub/jonathancook/p/corbyn-is-being-smeared-again-this?r=27oltk&utm_medium=ios</a><a href="https://mstdn.social/tags/Press" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#Press</a> <a href="https://mstdn.social/tags/UK" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#UK</a> <a href="https://mstdn.social/tags/Labour" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#Labour</a> <a href="https://mstdn.social/tags/Starmer" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#Starmer</a> <a href="https://mstdn.social/tags/Police" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#Police</a> <a href="https://mstdn.social/tags/Repression" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#Repression</a> <a href="https://mstdn.social/tags/MetPol" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#MetPol</a> <a href="https://mstdn.social/tags/PoliticalPolicing" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#PoliticalPolicing</a> <a href="https://mstdn.social/tags/Peaceful" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#Peaceful</a> <a href="https://mstdn.social/tags/Protest" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#Protest</a> <a href="https://mstdn.social/tags/Israel" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#Israel</a> <a href="https://mstdn.social/tags/Genocide" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#Genocide</a> <a href="https://mstdn.social/tags/Lies" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#Lies</a> <a href="https://mstdn.social/tags/PoliceLies" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#PoliceLies</a> <a href="https://mstdn.social/tags/Corbyn" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#Corbyn</a> <a href="https://mstdn.social/tags/McDonnell" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#McDonnell</a>

Geriatric Gardener“<a href="https://mstdn.social/tags/Corbyn" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#Corbyn</a>, <a href="https://mstdn.social/tags/McDonnell" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#McDonnell</a> interviewed under police caution – say marchers did NOT ‘break’ police line”by Skwawkbox <a href="https://mastodon.social/@skwawkbox" class="u-url mention" rel="nofollow noopener noreferrer" target="_blank">@skwawkbox</a> <a href="https://mastodon.cloud/@UKLabour" class="u-url mention" rel="nofollow noopener noreferrer" target="_blank">@UKLabour</a> <a href="https://a.gup.pe/u/palestine" class="u-url mention" rel="nofollow noopener noreferrer" target="_blank">@palestine</a> <a href="https://a.gup.pe/u/israel" class="u-url mention" rel="nofollow noopener noreferrer" target="_blank">@israel</a>“Police repression and state lies continue”<a href="https://skwawkbox.org/2025/01/19/corbyn-mcdonnell-interviewed-under-police-caution-say-marchers-did-not-break-police-line/" rel="nofollow noopener noreferrer" translate="no" target="_blank">https://skwawkbox.org/2025/01/19/corbyn-mcdonnell-interviewed-under-police-caution-say-marchers-did-not-break-police-line/</a><a href="https://mstdn.social/tags/Press" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#Press</a> <a href="https://mstdn.social/tags/UK" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#UK</a> <a href="https://mstdn.social/tags/Labour" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#Labour</a> <a href="https://mstdn.social/tags/Palestine" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#Palestine</a> <a href="https://mstdn.social/tags/Genocide" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#Genocide</a> <a href="https://mstdn.social/tags/Complicity" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#Complicity</a> <a href="https://mstdn.social/tags/Protest" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#Protest</a> <a href="https://mstdn.social/tags/Police" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#Police</a> <a href="https://mstdn.social/tags/Repression" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#Repression</a> <a href="https://mstdn.social/tags/MetPol" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#MetPol</a> <a href="https://mstdn.social/tags/Starmer" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#Starmer</a> <a href="https://mstdn.social/tags/Authoritarian" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#Authoritarian</a> <a href="https://mstdn.social/tags/Hypocrisy" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#Hypocrisy</a> <a href="https://mstdn.social/tags/Lies" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#Lies</a> <a href="https://mstdn.social/tags/ToryContinuityParty" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#ToryContinuityParty</a> <a href="https://mstdn.social/tags/LabourCorruption" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#LabourCorruption</a> <a href="https://mstdn.social/tags/LabourFriendsOfIsrael" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#LabourFriendsOfIsrael</a>

JuneSim63"The Metropolitan police, with the assistance of obedient media like the Guardian and BBC, are trying to frame as lawbreakers the organisers of the latest London rally, held this Saturday, against Israel’s genocide in Gaza and Britain’s complicity in it"<a href="https://mstdn.social/tags/Gaza" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#Gaza</a> <a href="https://mstdn.social/tags/Israel" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#Israel</a> <a href="https://mstdn.social/tags/Genocide" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#Genocide</a> <a href="https://mstdn.social/tags/Corbyn" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#Corbyn</a> <a href="https://mstdn.social/tags/McDonnell" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#McDonnell</a>Corbyn is being smeared again – this time to stop protests against genocide <a href="https://jonathancook.substack.com/p/corbyn-is-being-smeared-again-this?publication_id=476450&post_id=155151496&isFreemail=true&r=96cfk&triedRedirect=true" rel="nofollow noopener noreferrer" translate="no" target="_blank">https://jonathancook.substack.com/p/corbyn-is-being-smeared-again-this?publication_id=476450&post_id=155151496&isFreemail=true&r=96cfk&triedRedirect=true</a>

Geriatric GardenerThis, in the Grauniad, from a Labour MP who was suspended for 6 months by the <a href="https://mstdn.social/tags/KidStarver" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#KidStarver</a> for voting against maintaining the two-child limit! “There’s a threat lurking right underneath Labour’s nose – and it’s from the left”by John McDonnell MP<a href="https://mastodon.cloud/@UKLabour" class="u-url mention" rel="nofollow noopener noreferrer" target="_blank">@UKLabour</a> “The party wants to seem in control. But many of its MPs have knife-edge majorities that a challenger could obliterate”<a href="https://www.theguardian.com/commentisfree/2025/jan/06/labour-threat-left-party-mps-majorities?CMP=Share_iOSApp_Other" rel="nofollow noopener noreferrer" translate="no" target="_blank">https://www.theguardian.com/commentisfree/2025/jan/06/labour-threat-left-party-mps-majorities?CMP=Share_iOSApp_Other</a><a href="https://mstdn.social/tags/Press" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#Press</a> <a href="https://mstdn.social/tags/UK" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#UK</a> <a href="https://mstdn.social/tags/Labour" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#Labour</a> <a href="https://mstdn.social/tags/McDonnell" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#McDonnell</a> <a href="https://mstdn.social/tags/Starmer" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#Starmer</a> <a href="https://mstdn.social/tags/Austerity" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#Austerity</a> <a href="https://mstdn.social/tags/TwoChildBenefitCap" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#TwoChildBenefitCap</a> <a href="https://mstdn.social/tags/Genocide" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#Genocide</a> <a href="https://mstdn.social/tags/Complicity" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#Complicity</a>

Chuck DarwinAnother aspect of debt, considered as an information technology, is that if affects the information environment of the borrower. If you are managing a company which has borrowed money, making your payments becomes one of the survival conditions for that company. At low levels of debt, generating short term cash flow is one priority among others, but for a highly indebted company it becomes a signal which swamps all others. You might want to change the world, but if you don’t meet the coupon payments, you’ll never get the chance to see if your other strategic priorities would have worked.Consequently, a company with lots of debt cannot help but have a bias toward the short term. Which might be considered problematic, as the last few decades in the Western capitalist world have seen the rise of an industry (leveraged buyouts, or “private equity”) which has made it part of its fundamental operating strategy to load companies up with debt. Considered in this light, debt is a technology of control as well as of information – it’s a means of exerting discipline on management teams who might otherwise be tempted to follow priorities other than short-term financial returns.This is, as far as I can tell, the real meaning behind the populist critiques of “<a href="https://c.im/tags/financialisation" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#financialisation</a>” in the economy. There’s really nothing particularly bad about the growth of the financial sector, even to the extent that it’s outstripped the growth of the “real” economy. Quite simple mathematics ought to be enough to convince us that as the economy grows, the number of links and relationships between producers, consumers and investors will grow at a faster rate, and so you’d expect the parts of the economy in which decision making and information processing take place to grow faster than the “real” economy. It’s the same logic by which the brains of primates take up proportionally more energy than those of rodents; finance is part of the real economy, just like the cerebellum is a real organ.What’s bad about “financialisation” is neither more nor less than the over-use of debt. Modern corporations do often behave badly, and they make systematically worse decisions than they used to, this isn’t a delusion of age. They do this partly because they have outsourced key functions (cutting themselves off from important sources of information), and partly because their priorities are warped by the need to generate short term cash flow. Both of these problems can in large part be traced back to the private equity industry, working either as a direct driver of excess leverage, or as a constant threat which makes managers behave as if they were already subject to its discipline.<a href="https://c.im/tags/Management" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#Management</a> <a href="https://c.im/tags/science" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#science</a> and <a href="https://c.im/tags/cybernetic" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#cybernetic</a> <a href="https://c.im/tags/history" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#history</a> is all about things which began as solutions, 💥then turned into problems because the world changed. Once upon a time, back in the 1970s, private equity and LBOs were the solution to a problem of lazy, sclerotic incumbent management teams, self-dealing and failing to make tough decisions. But it’s now the 2020s, and private equity may itself be the biggest problem in our global information processing system. The way that corporate history progresses is that we try to keep up with the ever-increasing complexity of the world, ♦️and then when this is no longer possible, we have a crisis and reorganise. We’ve had the crisis – or perhaps we are still going through it – and now it’s time to think about how to reorganise.(3/3)<a href="https://www.amazon.com/stores/Dan-Davies/author/B07DGHPV6F" rel="nofollow noopener noreferrer" translate="no" target="_blank">https://www.amazon.com/stores/Dan-Davies/author/B07DGHPV6F</a><a href="https://c.im/tags/debt" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#debt</a> <a href="https://c.im/tags/information" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#information</a> <a href="https://c.im/tags/technology" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#technology</a> <a href="https://c.im/tags/criminogenic" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#criminogenic</a> <a href="https://c.im/tags/organisation" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#organisation</a> <a href="https://c.im/tags/Stafford" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#Stafford</a> <a href="https://c.im/tags/Beer" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#Beer</a> <a href="https://c.im/tags/Barry" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#Barry</a> <a href="https://c.im/tags/Clemson" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#Clemson</a> <a href="https://c.im/tags/accountability" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#accountability</a> <a href="https://c.im/tags/sink" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#sink</a> <a href="https://c.im/tags/Boeing" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#Boeing</a> <a href="https://c.im/tags/737MAX" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#737MAX</a> <a href="https://c.im/tags/Boeing" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#Boeing</a> <a href="https://c.im/tags/merger" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#merger</a> <a href="https://c.im/tags/McDonnell" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#McDonnell</a> <a href="https://c.im/tags/Douglas" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#Douglas</a> <a href="https://c.im/tags/engineering" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#engineering</a> <a href="https://c.im/tags/culture" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#culture</a> <a href="https://c.im/tags/cost" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#cost</a> <a href="https://c.im/tags/control" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#control</a> <a href="https://c.im/tags/Ricardian" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#Ricardian</a> <a href="https://c.im/tags/Fallacy" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#Fallacy</a> <a href="https://c.im/tags/hard" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#hard</a> <a href="https://c.im/tags/data" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#data</a> <a href="https://c.im/tags/culture" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#culture</a> <a href="https://c.im/tags/best" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#best</a> <a href="https://c.im/tags/practice" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#practice</a>

Chuck DarwinIt’s really striking to compare the two big crises of the last two decades.  The Global Financial Crisis beginning in 2007 was purely a matter of book entries in computers.  No actual physical capital was destroyed, nobody died.  By contrast, the COVID-19 pandemic beginning in 2020 was a massive blow to productive capacity – millions of people died, buildings were rendered unusable.  But it was the first of these two crises that led to massive scarring and a prolonged global recession, not the second.  Why?It might be said that the reason why is that if you consider the world economy as an organism, the pandemic attacked its muscles and sinews while the financial crisis attacked its brain.  The global financial services industry is a crucial part of the distributed decision-making system of the world, and its core component is a very old, but still surprisingly poorly understood technology called <a href="https://c.im/tags/debt" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#debt</a>.In the strictest, purest sense, debt is an “<a href="https://c.im/tags/information" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#information</a> <a href="https://c.im/tags/technology" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#technology</a>” – it’s one of the mechanisms human beings have invented to handle information.  By structuring an investment in someone else’s project as a debt, you immediately reduce the space of possible outcomes to two – you get paid back, or you don’t.  There are a lot of other information-processing techniques that banks and investors use, from statistical credit scoring to modern portfolio theory, but this is the big one.  It allows a modern bank to keep track of vastly more financial investments than would ever have been possible for a medieval merchant in the first days of double-entry book-keeping.  Rather than having to preserve face-to-face relationships with every single borrower, you can rely on the fact that 99% of mortgage loans get paid back in full and on time, and concentrate your attention on managing the 1% of cases where something goes wrong.🔥The trouble is that if you build a business on this basis, what happens when it turns out that there’s a small variance❓Unfortunately, a small variance in the proportion of good loans from 99% to 97% means a tripling in the number of bad loans❗️and consequently a huge excess load on the systems that are meant to deal with them.  Faced with this massive cognitive overload, the system froze.  And even more unfortunately, in a world in which trillions of dollars need to be rolled over and refinanced every day, the one thing that the financial sector cannot do is stop for a moment to regain its bearings.  If information processing was free and the bankruptcy process frictionless, the Global Financial Crisis would have been over in a month.  As it was, all the information which had been attenuated by the use of multiple layers of secured debt came back, suddenly unattenuated and needing to be dealt with.That’s the “cybernetic history” of the debt crisis which I outline in my book, and I think it’s a useful alternative perspective to the economic one, and one which makes it more comprehensible that a relatively small market for synthetic CDOs turned into a continental crisis.  But this might not even have been the most pernicious use of debt seen in our lifetimes.(2/3)<a href="https://profilebooks.com/work/the-unaccountability-machine/" rel="nofollow noopener noreferrer" translate="no" target="_blank">https://profilebooks.com/work/the-unaccountability-machine/</a> <a href="https://c.im/tags/criminogenic" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#criminogenic</a> <a href="https://c.im/tags/organisation" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#organisation</a> <a href="https://c.im/tags/Stafford" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#Stafford</a> <a href="https://c.im/tags/Beer" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#Beer</a> <a href="https://c.im/tags/Barry" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#Barry</a> <a href="https://c.im/tags/Clemson" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#Clemson</a> <a href="https://c.im/tags/accountability" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#accountability</a> <a href="https://c.im/tags/sink" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#sink</a> <a href="https://c.im/tags/Boeing" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#Boeing</a> <a href="https://c.im/tags/737MAX" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#737MAX</a> <a href="https://c.im/tags/Boeing" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#Boeing</a> <a href="https://c.im/tags/merger" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#merger</a> <a href="https://c.im/tags/McDonnell" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#McDonnell</a> <a href="https://c.im/tags/Douglas" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#Douglas</a> <a href="https://c.im/tags/engineering" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#engineering</a> <a href="https://c.im/tags/culture" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#culture</a> <a href="https://c.im/tags/cost" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#cost</a> <a href="https://c.im/tags/control" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#control</a> <a href="https://c.im/tags/Ricardian" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#Ricardian</a> <a href="https://c.im/tags/Fallacy" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#Fallacy</a> <a href="https://c.im/tags/hard" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#hard</a> <a href="https://c.im/tags/data" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#data</a> <a href="https://c.im/tags/culture" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#culture</a> <a href="https://c.im/tags/best" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#best</a> <a href="https://c.im/tags/practice" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#practice</a>

Chuck DarwinMore from Dan Davies:About five years ago, I started to get very interested in an obscure subject called “<a href="https://c.im/tags/management" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#management</a> <a href="https://c.im/tags/cybernetics" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#cybernetics</a>”.  It was a product of the technological dreamscape of the 1960s and 70s; after the invention of the computer, but before it became ubiquitous, in a period when there was room for speculation about how the new world of artificial intelligence would change our world.I had just finished my previous book (Lying for Money: How Legendary Frauds Reveal the Workings of the World), and was keen to say a bit more about how organisations go wrong.  It seemed to me that it might be possible to expand the concept of a “<a href="https://c.im/tags/criminogenic" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#criminogenic</a> <a href="https://c.im/tags/organisation" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#organisation</a>” (one where the incentives structurally produce illegal behaviour) to a more general 🔸“bad-decision-o-genic organisation”.And furthermore, that the weird mixture of pure mathematics, philosophy, accountancy, physics and economics that came together in the work of now-forgotten management gurus like <a href="https://c.im/tags/Stafford" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#Stafford</a> <a href="https://c.im/tags/Beer" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#Beer</a> and <a href="https://c.im/tags/Barry" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#Barry</a> <a href="https://c.im/tags/Clemson" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#Clemson</a> might be the way to think about it.What do bad decision-making organizations have in common❓Quite a few things, but one of the clearest signs is something you might call an “<a href="https://c.im/tags/accountability" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#accountability</a> <a href="https://c.im/tags/sink" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#sink</a>”.  This is something that might be familiar to anyone who has been bumped from an overbooked flight.  There is no point getting angry at the gate attendant; they are just implementing a corporate policy which they have no power to change.  But nor can you complain to the person who made the decision – that is also forbidden by the policy.  The airline has created an arrangement whereby the gate attendant speaks to you with the voice of an amorphous algorithm -- but you have to speak back as if to a human being like yourself.  The communication between the decision-maker and the decided-upon has been broken – they have created a handy <a href="https://c.im/tags/sink" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#sink</a> into which <a href="https://c.im/tags/negative" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#negative</a> <a href="https://c.im/tags/feedback" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#feedback</a> can be poured without any danger of it affecting anything.⚠️This breaking of the feedback links is, I think, one of the most important things that has happened to large organisations – banks, but also large corporations and government departments – over the last fifty years.  In most cases, it’s not been carried out purely as a responsibility-dodging exercise, or as part of a conscious effort to make things worse.  That has happened, on occasion, but for the most part, after spending a lot of time looking into examples, I concluded that feedback links were being broken simply because 💥they had to be.  The world keeps growing and getting more complicated, which means that individual managers gradually become overwhelmed; the problem of trying to get a sensible drink from the firehose of information that pours into any large organisation every day has become unbearable.And this is why institutions have started ❌ delegating decisions to systems – credit scoring algorithms, regulatory risk weighting formulas and the like.  As well as allowing decision-making to be automated and industrialised, they provide a psychological defense system, 👉preventing individual human beings from the consequences of having to make a decision and own it.Most of the time, these systems work well.  But when they break down, the consequences can be spectacular.  Because every such algorithm or rulebook is, implicitly, based on a <a href="https://c.im/tags/model" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#model</a> of the thing they’re meant to govern.  And every such model is capable of failure.  And when something comes along that’s outside the model – like, for example, a sustained nationwide fall in US house prices – you end up in a situation where literally nobody knows what to do.(1/3) <a href="https://www.netinterest.co/p/decisions-nobody-made" rel="nofollow noopener noreferrer" translate="no" target="_blank">https://www.netinterest.co/p/decisions-nobody-made</a><a href="https://mamot.fr/@pluralistic" class="u-url mention" rel="nofollow noopener noreferrer" target="_blank">@pluralistic</a> <a href="https://c.im/tags/Boeing" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#Boeing</a> <a href="https://c.im/tags/737MAX" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#737MAX</a> <a href="https://c.im/tags/Boeing" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#Boeing</a> <a href="https://c.im/tags/merger" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#merger</a> <a href="https://c.im/tags/McDonnell" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#McDonnell</a> <a href="https://c.im/tags/Douglas" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#Douglas</a> <a href="https://c.im/tags/engineering" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#engineering</a> <a href="https://c.im/tags/culture" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#culture</a> <a href="https://c.im/tags/cost" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#cost</a> <a href="https://c.im/tags/control" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#control</a> <a href="https://c.im/tags/Ricardian" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#Ricardian</a> <a href="https://c.im/tags/Fallacy" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#Fallacy</a> <a href="https://c.im/tags/hard" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#hard</a> <a href="https://c.im/tags/data" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#data</a> <a href="https://c.im/tags/culture" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#culture</a> <a href="https://c.im/tags/best" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#best</a> <a href="https://c.im/tags/practice" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#practice</a>

Chuck DarwinDan Davies:These thoughts struck me while listening to the ** Odd Lots podcast on Boeing, which I thoroughly recommend. The <a href="https://c.im/tags/Boeing" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#Boeing</a> <a href="https://c.im/tags/737MAX" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#737MAX</a> is one of the core case studies in "The Unaccountability Machine" (you can buy it now!), because it’s a really graphic example of 💥a decision-making system which generated an awful result -- ⚠️without any identifiable natural person being responsible for it.The Odd Lots episode, focuses on <a href="https://c.im/tags/Boeing" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#Boeing</a>'s 1997 <a href="https://c.im/tags/merger" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#merger</a> with <a href="https://c.im/tags/McDonnell" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#McDonnell</a> <a href="https://c.im/tags/Douglas" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#Douglas</a> as the inflection point in Boeing’s history.  ♦️This caused a thorough cultural change from Boeing’s historical “<a href="https://c.im/tags/engineering" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#engineering</a> <a href="https://c.im/tags/culture" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#culture</a>” -- based on ❇️getting things right and doing what was needed, ♦️to something more in tune with the Jack Welch / Shareholder Value spirit of the times, 🆘focused on <a href="https://c.im/tags/cost" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#cost</a> <a href="https://c.im/tags/control" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#control</a> and "return on investment".It's kind of odd, though.  Boeing was the acquirer and the larger company; McDonnell was actually not in that great shape; it had a good defence business but a bad civilian aircraft business; in fact, one of the attractions for Boeing was that McDonnell had spare factory capacity that it could use to accelerate its own overflowing order book.  As you’d expect from a company run along financial lines, it was quite indebted too.  So why was it McDonnell’s culture that became dominant?❓⬇️ Let’s take a step back into economics.  Joseph Schumpeter identified something he called “The <a href="https://c.im/tags/Ricardian" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#Ricardian</a> <a href="https://c.im/tags/Fallacy" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#Fallacy</a>”.  This is the tendency of economists to 🔹build a theoretical model, 🔹solve the model and then 🔸act as if they have solved the problem in the real world.  To an extent, this isn’t particular to economists – it’s the nature of modelling that having made a representation of reality specifically in order to attenuate its complexity and make a problem manageable, --⭐️ you don’t then go back and unattenuate it.But bearing that in mind, the Ricardian Fallacy then interacts with another thing that economists do; --⭐️ they collect data.  Data gathering is almost never a neutral activity; it takes place within a theoretical framework.  And what this means is that if the system for gathering, classifying and tabulating the data was designed by people who had a particular model, 👉then the data will most likely support that model.  Everything which is part of the model will be well-verified, data-driven, empirically based and so on.  Everything which isn’t part of the model will be handwavey, subjective, “hard to quantify” and other synonyms for “probably special pleading and made up”.  In the book, I have a subsection called “How Ricardians Win Arguments” and this is how: – they collect the data.⬆️ Returning from the digression, the important thing to understand is that the financial accounts are a model of the business.  They incorporate a lot of assumptions, of which perhaps the least analysed but most important one is “the financial year is a meaningful time period for this process”.  Some things appear in the accounts, and they are the things which can be backed up with numbers.  Other things don’t, and therefore they can’t.  (Or best case, they can only be backed up with ad hoc, unaudited numbers which everyone will be suspicious of).💥I think that’s one of the deep causes of what went wrong in Boeing; ♦️the McDonnell-Douglas executives were the ones who could back up their business cases with a ream of <a href="https://c.im/tags/hard" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#hard</a> <a href="https://c.im/tags/data" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#data</a>.  ♦️The legacy Boeing executives were left talking about <a href="https://c.im/tags/culture" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#culture</a> and <a href="https://c.im/tags/best" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#best</a> <a href="https://c.im/tags/practice" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#practice</a> and all sorts of soft-sounding things that were hard to put into a model.  ⚠️The Ricardians won the argument, and 🔥the disastrous decisions turned out to have been made without anyone realising they were making them -- when they decided to use the financial reporting system as a tool of management(0/3) <a href="https://backofmind.substack.com/p/how-the-wrong-side-won-at-boeing" rel="nofollow noopener noreferrer" translate="no" target="_blank">https://backofmind.substack.com/p/how-the-wrong-side-won-at-boeing</a>** Odd Lots Podcast <a href="https://podcasts.apple.com/us/podcast/the-moment-that-boeings-culture-started-to-rot/id1056200096?i=1000642200497" rel="nofollow noopener noreferrer" translate="no" target="_blank">https://podcasts.apple.com/us/podcast/the-moment-that-boeings-culture-started-to-rot/id1056200096?i=1000642200497</a>

Chuck DarwinRepublicans step up effort to change Nebraska voting rules to help Trump Congressional Republicans are demanding an 11th-hour change to Nebraska’s presidential voting system in a move that could transform the electoral calculus and tip the race to Donald Trump in the event of a photo finish.With polls showing Trump neck-and-neck with Kamala Harris both nationally and in battleground states, senior GOP congressional figures are pressing the Nebraska legislature to 👉replace a system that 👍 allocates electoral votes by districts with the 👎winner-takes-all distribution that operates in most US states.The change would⚠️ increase the number of electors allotted to Trump for winning the solidly Republican state from four to five – and raises the possibility that the former president could end up tied with Harris at 269 electoral votes each.Such a scenario 🆘 would pitch the ultimate decision on the election into the House of Representatives, which has the constitutional authority to certify the results – meaning the outcome of November’s House election, in which Republicans are defending a wafer-thin majority, could be even more pivotal than usual.In a sign of the raised stakes, the South Carolina senator <a href="https://c.im/tags/Lindsay" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#Lindsay</a> <a href="https://c.im/tags/Graham" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#Graham</a> – a close Trump ally – visited Nebraska this week and urged legislators to find the extra votes needed to revert its electoral college distribution procedure back to the winner-takes-all system it used before 1992.Pressure was also ratcheted up by the state’s five US congressional members, who wrote to Nebraska’s governor, <a href="https://c.im/tags/Jim" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#Jim</a> <a href="https://c.im/tags/Pillen" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#Pillen</a>, and the speaker of its single-chamber legislature, <a href="https://c.im/tags/John" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#John</a> <a href="https://c.im/tags/Arch" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#Arch</a>, who are both Republicans.“As members of Nebraska’s federal delegation in Congress, we are united in our support for apportioning all five of the Nebraska’s electoral votes in presidential elections according to the winner of the whole state,” read the Nebraska delegation’s letter, posted on X by GOP House member Mike Flood, one of its signatories. “It is past time that Nebraska join 48 other states in embracing winner-take-all in presidential elections.”A two-thirds majority of the Republican-led chamber is needed to change the system. ⭐️Only 31 or 32 of the 50-seat body are thought to be in favour, meaning the spotlight is being focused on the state senator <a href="https://c.im/tags/Mike" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#Mike</a> <a href="https://c.im/tags/McDonnell" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#McDonnell</a>, a former Democrat who turned Republican this year but swore he would never support winner-takes-all.Local media reports have depicted McDonnell as wavering amid speculation that Trump may soon contact him personally.The issue is potentially vital because 💥some pollsters have predicted that Harris is on course to win exactly the 270 electoral votes needed to capture the White House by winning the three northern swing states of <a href="https://c.im/tags/Pennsylvania" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#Pennsylvania</a>, <a href="https://c.im/tags/Michigan" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#Michigan</a> and <a href="https://c.im/tags/Wisconsin" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#Wisconsin</a>, where recent polling has shown her with small but consistent leads.🔥However, she would fall short by just one if a winner-takes-all distribution was adopted in Nebraska, whose second congressional district – encompassing the state’s largest city, <a href="https://c.im/tags/Omaha" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#Omaha</a>, and its suburbs – together with its single electoral vote is expected to fall to Harris, as it did to Joe Biden in 2020. <a href="https://www.theguardian.com/us-news/2024/sep/21/republicans-nebraska-trump-electoral-college?CMP=Share_iOSApp_Other" rel="nofollow noopener noreferrer" translate="no" target="_blank">https://www.theguardian.com/us-news/2024/sep/21/republicans-nebraska-trump-electoral-college?CMP=Share_iOSApp_Other</a>

AutisticMumTo3EXCLUSIVE: Labour austerity could push voters to the far-right, John McDonnell claims - Left Foot Forward: Leading the UK's progressive debate <a href="https://leftfootforward.org/2024/09/exclusive-labour-austerity-could-push-voters-to-the-far-right-claims-john-mcdonnell/" rel="nofollow noopener noreferrer" translate="no" target="_blank">https://leftfootforward.org/2024/09/exclusive-labour-austerity-could-push-voters-to-the-far-right-claims-john-mcdonnell/</a><a href="https://leftist.network/tags/Labour" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#Labour</a> <a href="https://leftist.network/tags/Austerity" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#Austerity</a> <a href="https://leftist.network/tags/McDonnell" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#McDonnell</a> <a href="https://leftist.network/tags/UKPolitcs" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#UKPolitcs</a> <a href="https://leftist.network/tags/FarRight" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#FarRight</a> <a href="https://leftist.network/tags/WinterFuelPayments" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#WinterFuelPayments</a> <a href="https://leftist.network/tags/WFA" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#WFA</a>

AutisticMumTo3Disabled people set to protest demands of new Labour government <a href="https://www.thecanary.co/uk/news/2024/07/16/disabled-people-protest-18-july/" rel="nofollow noopener noreferrer" translate="no" target="_blank">https://www.thecanary.co/uk/news/2024/07/16/disabled-people-protest-18-july/</a><a href="https://leftist.network/tags/McDonnell" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#McDonnell</a> <a href="https://leftist.network/tags/Disabled" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#Disabled</a> <a href="https://leftist.network/tags/Labour" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#Labour</a> <a href="https://leftist.network/tags/UKGov" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#UKGov</a> <a href="https://leftist.network/tags/DisabledPeopleDemo" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#DisabledPeopleDemo</a> <a href="https://leftist.network/tags/protest" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#protest</a> <a href="https://leftist.network/tags/ChronicallyIll" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#ChronicallyIll</a> <a href="https://leftist.network/tags/LongTermSick" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#LongTermSick</a> <a href="https://leftist.network/tags/DisabledPeopleAgainstCuts" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#DisabledPeopleAgainstCuts</a> <a href="https://leftist.network/tags/RecoveryInTheBin" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#RecoveryInTheBin</a> <a href="https://leftist.network/tags/Unite" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#Unite</a> <a href="https://leftist.network/tags/DisabilityAndMigrantNetwork" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#DisabilityAndMigrantNetwork</a> <a href="https://leftist.network/tags/DisabledPeopleDemand" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#DisabledPeopleDemand</a> <a href="https://leftist.network/tags/PeoplesAssembly" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#PeoplesAssembly</a>

Gladwyn d’Souza<a href="https://sfba.social/tags/Kleptocracy" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#Kleptocracy</a>: They lost a lot of money. The shareholders bore those costs. Once the wholesale prices started dropping, those plants started losing money. FirstEnergy and AEP says, Well, what do we do with these things? I know. Let's bring them to West Virginia. Let's put them on the backs of the West Virginia ratepayers.History of <a href="https://sfba.social/tags/ratepayers" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#ratepayers</a> bailing out the <a href="https://sfba.social/tags/corruption" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#corruption</a> being legalized by <a href="https://sfba.social/tags/SCROTUS" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#SCROTUS</a>.<a href="https://sfba.social/tags/RenewablesAreDeflationary" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#RenewablesAreDeflationary</a> <a href="https://sfba.social/tags/RepublicansBackLosers" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#RepublicansBackLosers</a> <a href="https://sfba.social/tags/CoalDependencyPath" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#CoalDependencyPath</a> <a href="https://sfba.social/tags/CitizensUnited" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#CitizensUnited</a> <a href="https://sfba.social/tags/Manchin" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#Manchin</a> <a href="https://sfba.social/tags/utilities" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#utilities</a> <a href="https://sfba.social/tags/transmission" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#transmission</a> <a href="https://sfba.social/tags/McDonnell" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#McDonnell</a><a href="https://xenetwork.org/ets/episodes/episode-198-the-coal-trap/" rel="nofollow noopener noreferrer" target="_blank">https://xenetwork.org/ets/episodes/episode-198-the-coal-trap/</a>

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