Ross Douthat on "Journalists leading the conversation"

Consider, for instance, the Washington press’s tendency toward what critics have dubbed “bipartisanthink” — in which journalists fetishize centrism and deal making, and assume that the best of all possible legislation, regardless of its actual content, is the kind that has both parties’ fingerprints on it. By conflating the march of progress with the march of legislation through Congress, bipartisanthink allows journalists to take sides and root for particular outcomes without having to explicitly choose sides.
...

 “Leading the conversation” is how you end up with the major Sunday shows somehow neglecting to invite a single anti-amnesty politician on a weekend dominated by the immigration debate. It’s how you end up with officially nonideological anchors and journalists lecturing social conservatives for being out of step with modern values. And it’s how you end up with a press corps that went all-in for the supposed “war on women” having to be shamed and harassed — by two writers in particular, Kirsten Powers in USA Today and Mollie Ziegler Hemingway of GetReligion — into paying attention to the grisly case of a Philadelphia doctor whose methods of late-term abortion included snipping the spines of neonates after they were delivered.

As the last example suggests, the problem here isn’t that American journalists are too quick to go on crusades. Rather, it’s that the press’s ideological blinders limit the kinds of crusades mainstream outlets are willing to entertain, and the formal commitment to neutrality encourages self-deception about what counts as crusading.

Read the whole thing. 

James Taranto on nature and nurture

He writes:

Here's our hypothesis to explain the Hart-Risley findings [on academic success in young children]: The variables they studied--again, the parents' loquaciousness and the children's IQ and school performance--were all effects. The main causal factor was something the researchers apparently didn't think to measure: parental IQ.

Steven Pinker, the Harvard cognitive psychologist, seems to be thinking along similar lines. This morning in response to the Rosenberg post he tweeted: "The Blank Slate lives: Yet another story on parent-child correlations that dares not mention the g-word."

"The g-word" is "genetics," and "the Blank Slate" refers to the view that human beings are essentially fungible--that all differences between individuals and groups, or at least all those that have important social consequences, are the product of nurture rather than nature. It follows from this view that inequalities between individuals or groups can be eliminated by social engineering--by changing the environment in which individuals develop.

Quotes of the week

As soon as you crack your knuckles and open up a comments page, you just canceled your subscription to being a good person.--Louie C.K.

Manipulated by the media, voting their pocketbooks, supporting sectional interests or monofocal issues, voters in America and other Western democracies do not show very great signs of transcendent wisdom. Worse, we labor under the delusion (indeed, we foster the delusion) that somehow things will be all right provided lots of people vote. Our system of government is our new Tower of Babel: it is supposed to make us impregnable. The Soviet empire totters; other nations crumble into the dust, Balkanized, destroyed by civil war, tribal genocide, grinding poverty, endemic corruption, Marxist or some other ideology. Not us. We belong to a democracy, “rule by the people.”--Don Carson

Monetarism is not — nor did it appear to policy makers in the 1970s to be — a laissez-faire program.  Rather, it is a program for government control of economic volatility.--Michael Clune

Devote your life to something you love — not like, but love.--Gene Siskel

Quotes of the day

Who would have thought that Hollywood environmentalists would find themselves aligned with Persian Gulf oil barons? --John Carney

The [Iranian] Fars News Agency, which is close to Iran’s powerful Republican Guard Corps, posted its version of the report on its English-language Web site under the same headline used by The Onion for the original four days earlier: “Gallup Poll: Rural Whites Prefer Ahmadinejad To Obama.”--Robert Mackey

[Warren Buffett] thinks of cash as a call option with no expiration date, an option on every asset class, with no strike price.--Alice Schroeder

Quotes of the day

... if a male writer wanted to “analyze” gender differences by using a combination of misleading statistics about women, unscientific snapshots of particular men who seem like real go-getters, and musings about how men are adaptive and resilient and possess greater vision, he’d rightly get slapped down for shoddy thinking and poor journalism. What say in the interest of gender equality we hold Rosin to the same standard?--Tony Woodlief

Medical care is famously immune to the usual market incentives; the patient has little reason to make a cost-benefit tradeoff. Doctors and hospitals hardly do either; indeed the opposite seems to be the case. Matters are made all the worse, ironically, by the continual improvements in medicine – improvements which often treat what was previously untreatable, and which improve on existing treatments but at a higher cost.--Rick Brookstaber

I've done several types of work over the years but I don't know another as counterintuitive as startup investing. The two most important things to understand about startup investing, as a business, are (1) that effectively all the returns are concentrated in a few big winners, and (2) that the best ideas look initially like bad ideas.--Paul Graham

In his State of the Union address earlier this year, President Obama declared, “I will not cede the wind or solar or battery industry to China . . . because we refuse to make the same commitment here.” Given what’s really happening in China, he may want to think again.--PATRICK CHOVANEC

I was asked whether the new Fed policy will enable Obama’s big spending plans for his second term.  I doubt it.  The policy initiative is too small to decisively impact growth or the deficit, but large enough to take away support for further fiscal stimulus.  Obama will be forced to adopt Simpson/Bowles-style austerity during his second term.  There’s no longer any point in even wasting keystrokes on Mitt’s plans.  He’s done—put a fork in him.--Scott Sumner

How can the same paper that complains about

this:

publish this?

Anyone? Anyone? Bueller?

Via Glenn Reynolds.

John Carney spanks the New York Times

I'm starting to wonder which of them is David and which is Goliath:

I doubt that any sizable contingent of Republicans or Tea Party folks know the level of participation in means-tested government assistance of black and Hispanic households.

When they argue for cuts in programs for the poor, they have no idea the beneficiaries are so disproportionately black and Hispanic.

Where would they have learned this fact? Certainly it is not reflected in the reporting of the New York Times. A quick search through the archives of the New York Times reveals this bit of census data has never been reported by the New York Times.

Most likely, if asked about this, most Tea Partiers would greatly underestimate the level of black and Hispanic participation in things such as food stamps, Medicaid, and public housing.

To put it differently, it’s not anyone’s agenda that “racializes policymaking.” Our programs for the poor are deeply racialized regardless of anyone’s agenda.

Quotes of the day

Dirty tricks were not invented by Nixon; they stretch back to the Fall. Blessed is the Christian whose life is so transparent, who is “trustworthy and neither corrupt nor negligent” (Dan. 6:4), so that the only way he or she can be destroyed is by making Christian conduct and conviction a crime. ... no legal system can ensure consistent justice. Corrupt people will always find ways of exploiting the system to oppress others and advance themselves. Hidden behind the slogan is a deeper issue. Historically there has long been a tension between positive law theory, in which the only law to be obeyed is that enacted by government, and natural law theory, in which some fundamentals are thought to be discoverable by human beings. In the name of equity and justice, British courts, until fairly recently, would sometimes set aside positive law in favor of natural law where it was pretty obvious an injustice was otherwise being committed. Both in Britain and in the United States, such considerations are now rare. In Britain, what must be obeyed is what Parliament says; in the United States, what must be obeyed is what the Supreme Court says. In both instances, positive law largely prevails, as in ancient Persia. The matter has become increasingly difficult here since Western states have come to think they have a therapeutic role in society, defining the “illnesses” that must be confronted and the “therapies” that must be imposed as they go along. The potential for injustice and inequity multiplies.--Don Carson

Our tax dollars at work… a half-billion dollar loan (actually $529 million) from the U.S. Department of Energy to develop a hybrid toy for the wealthy and/or celebri-licious (like Leonardo DiCaprio, one of the first customers) that, in real world driving, won’t get much better mileage than your average crossover utility vehicle. Not only that, but the cars are manufactured in Finland — that’s right, Finland – and shipped here for sale, where their purchasers will then receive a $7,500 tax credit for buying one (the “cheap” base model starts at $96,895, with the full-zoot Eco Chic model going for a bargain $108,900). ... Those Occupy Wall Street-types in their tents at MacPherson Square? If they really, truly are bugged by corporate welfare, they need to schlep their signs and their chants and their anger over to the Mandarin Oriental Hotel. Right now. Because the Fisker Karma is where the rubber meets the road when it comes to corporate welfare. I have no problem with a group of entrepreneurs raising money from private investors to build a hundred thousand dollar toy for rich folks who want to flaunt their eco-consciousness. When and if that’s the case, may they have all the mazel in the world. But damn, it steams me up when my family and every family in America are forced to pay for it.--Andrew Fox

The more people helping each other out, the better.--Pietro Poggi-Corradini

Earlier this year, a report from Standard and Poor’s indicated that of the 1,485 stocks making up the S&P 1500 index, not a single one had a consensus sell recommendation from Wall Street analysts. That doesn’t mean there wasn’t the odd sell recommendation, it just means that there were no stocks that most analysts agreed had less than rosy prospects. Meanwhile, the S&P 1500 is down 2.77 per cent including dividends to Oct. 19, with the financials sector down 19.97 per cent. --Preet Banerjee

One of the running jokes of Mr. Chandor’s [Margin Call] script  is that the higher a person’s [corporate] rank, the less he is likely to understand what the firm is actually doing. This ignorance is almost a point of pride. “I don’t get any of this stuff” — this line is repeated about Peter’s discovery by Will, then Sam, then Sam’s boss, Jared Cohen (Simon Baker) and then Tuld. In a further absurdity, one person who does get it, Peter’s mentor, Eric Dale (Stanley Tucci) has just been downsized out of the company. As a security measure his cellphone has been disconnected, which means that his increasingly desperate former colleagues are unable to find him when he might be of most use.--A. O. SCOTT

I thought, This is a very dangerous person.--Sidney Lumet, on meeting Pauline Kael

Parents, you may be onto something: A small new study suggests that teens' intelligence, as measured by the IQ test, may fluctuate throughout adolescence. The changes -- in both verbal and nonverbal IQ -- ranged to as much as 20 points and were correlated with specific brain areas. IQ has long been thought to remain stable over a person's lifetime.--Amanda Gardner

[Steve Jobs] tries to treat [his pancreatic cancer] with diet. He goes to spiritualists. He goes to various ways of doing it macrobiotically and he doesn't get an operation. ... I think that he kind of felt that if you ignore something, if you don't want something to exist, you can have magical thinking .... We talked about this a lot.--Walter Isaacson, Jobs' authorized biographer

Ohhhh. That cake looks so good.--Kim Kardashian

Italy is house rich, somewhat cash poor, and has a miserable recent history of growth. If you look at the wealth side of the balance sheet, you can easily work up a heady optimism for Italy. If you study public choice theory, it is harder to do so. How many people in that country are either paid to do the wrong thing, or paid to do not so much at all? [The Great Stagnation] reigns. Italy’s privileges and distortions are so often so local, and so concentrated in inefficient professional services, that it is hard to imagine clearing them up quickly in the form of a big bang, in the way that say New Zealand or Chile or Thatcher’s England did. And even those successes took some time to pay off and underperformed for years. Note that if Italy could credibly be expected to grow a mere 2 pct. a year — maybe less — the entire eurozone crisis probably would be messy but manageable. It’s not.--Tyler Cowen

Brian Moynihan is here tonight. He’s the C.E.O. of Bank of America. As many of you know, Brian’s brother Patrick runs a Catholic boarding school in Haiti. Their parents must be so proud to see two of their boys running an underfunded, nonprofit organization.--Steve Schwartzman

Quotes of the day

The courageous and unshakable old man that Daniel became (Dan. 6) was formed by a young man who obeyed God even in what he ate, and who was so honest that he would not take any credit where none was due. He was committed to faithfulness, humility, courage, and integrity. He has few successors in high places.--Don Carson

A recent study by Jonah Berger of Wharton and Devin Pope of the University of Chicago highlights how being slightly behind is often an advantage. The authors devote a large part of their research to studying 18,000 NBA and 45,000 college basketball games. They also conducted an experiment in which people played competitive games and were given feedback halfway through. During a break in the experiment, someone would come in and tell the participants that they were either slightly behind, far behind, slightly ahead or tied. The control group was told nothing either way. Berger and Pope found that participants who thought they were slightly behind significantly increased their effort.--Azure Gilman

I think this Easterbrook dude has the journalistic equivalent of “tenure”.--Andrew Gelman

California has long been among America's most extensive taxers and regulators of business. But it had assets that seemed to offset its economic disincentives: a sunny climate, a world-class public university system that produced a talented local work force, sturdy infrastructure that often made doing business easier, and a record of spawning innovative companies. No more. In surveys, executives regularly call California one of the country's most toxic business environments, while the state has become an easy target for economic development officials from other states looking to lure firms away. ... its successful firms increasingly expand elsewhere.
...
In 2007, Google built a new generation of server farms in Oregon; the following year, Intel opened a $3 billion production facility near Phoenix. Earlier this year, eBay, based in San Jose, Calif., said it would add some 1,000 back-office jobs in Austin, Texas, over the next decade. Hank Nothhaft, former CEO of the San Jose-based micro-electronics firm Tessera, has estimated that Silicon Valley lost one-quarter of its computer, microchip and communications-equipment manufacturing jobs from 2001 to 2008. A suffocating regulatory climate has a lot to do with the state's bad business numbers. Writing in the California Political Review this summer, Andrew Puzder, chief executive of California-based CKE Restaurants—which operates 3,000 eateries nationwide—called his company's home state "the most business-unfriendly state we operate in." CKE, which runs Hardee's and Carl's Jr., has stopped opening restaurants in California, where the regulatory process can take up to two years. But it plans to open 300 in Texas, where the start-up time can be six weeks and opening costs $200,000 less than in California.--Steven Malanga

Obama’s most coveted tax hike — an extra 3 to 4.6 percent for millionaires and billionaires (weirdly defined as individuals making more than $200,000) — would have reduced last year’s deficit (at the very most) from $1.29 trillion to $1.21 trillion. Nearly a rounding error. The oil-drilling breaks cover less than half a day’s federal spending. You could collect Obama’s favorite tax loophole — depreciation for corporate jets — for 100 years and it wouldn’t cover one month of Medicare, whose insolvency is a function of increased longevity, expensive new technology and wasteful defensive medicine caused by an insane malpractice system. After three years, Obama’s self-proclaimed transformative social policies have yielded a desperately weak economy. What to do? Take the low road: Plutocrats are bleeding the country, and I shall rescue you from them.  Problem is, this kind of populist demagoguery is more than intellectually dishonest. It’s dangerous. Obama is opening a Pandora’s box. Popular resentment, easily stoked, is less easily controlled, especially when the basest of instincts are granted legitimacy by the nation’s leader--Charles Krauthammer

Congress isn't getting a glimpse of what's on President Barack Obama's Blackberry - or any more internal White House communications related to the bankrupt solar company Solyndra, which received a $535 million loan guarantee from the federal government. House Republicans investigating the loan controversy had requested all internal White House documents about the issue. House Energy and Commerce subcommittee chair Rep. Cliff Stearns said that includes emails on the President's Blackberry. On Friday the White House Counsel sent a letter to the House Energy and Commerce Committee explaining they won't comply with the request because it "implicates longstanding and significant institutional Executive Branch confidentiality interests."--Jessica Yellin

People from every State in this great Nation sent us to Congress to
defend their rights and stand up for their interests. To do that we
have to tear down the barriers that separate citizens from the
democratic process and to shine a brighter light on the inner workings
of Washington.--Senator Obama

Quotes of the day

[HP] looks cheap, but the future of the PC is a very, very difficult business to handicap.--Bill Ackman

One of the interesting things that we’ve noticed is that companies correlate on decision making and speed of decision making. There are basically no companies that have good slow decisions. There are only companies that have good fast decisions. I think that’s also a natural thing as companies get bigger –they tend to slow down decision making. And that’s pretty tragic.--Larry Page

... even though a computer can execute millions of instructions in a microsecond, the furthest light can travel in that time - even in a vacuum - is just 300 meters.--Jeff Hecht

The world has experienced five major technical-economic cycles:
(1) 1771 - , The First Industrial Revolution in Britain, based on mechanization of the cotton industry.
(2) 1829 - , The Age of Steam and Railways
(3) 1875 - , The Age of Steel and Electricity
(4) 1908 - , The Age of Oil, the Automobile, and Mass Production
(5) 1971 - , The Age of Information and Telecommunications
--Leonard Wilson, on Carlota Perez's Technological Revolutions and Financial Capital

Proposed List Of Demands For Occupy Wall St Movement!--LloydJHart

I think we are between the last cycle and the next cycle, the latter of which will hopefully improve the intellectual capacity of people who make lists like the one above.--Cav

The midsection of a 67-year-old is not a pretty sight.--Bill Gross

For centuries, parents have given their kids the awkward “birds and the bees” sex conversation. But we are the first generation of parents in the history of mankind who must have a “digital footprint” conversation with our kids. We are the first generation that has to sit our kids down and say, “Let’s talk about Facebook and Twitter and Youtube.”--Jon Acuff

Koch Industries has spent more than $50 million to lobby in Washington since 2006." My reaction to reading this was, "$50 million? That's it?" That might sound like a lot, but let's compare that to, say, General Electric. Over the same period, GE has spent more than $136 million lobbying, according to the Center for Responsive Politics. ... I don't know the Koch brothers; I've never met them. I can't tell you if they're saints or sinners. But at least from this Bloomberg article, their company doesn't appear to be especially destructive or immoral. That much is crystal clear through some perspective. But maybe the reporters can prove me wrong about their bias by their next article detailing the many alleged misdeeds of a company with political ties to the left, like GE.--Daniel Indiviglio

Ms. [Betty] Liu deserves some credit for being a rare interviewer of Mr. Buffett who, rather than simply fawning, challenges him. Other journalists sought out by Mr. Buffett would do their profession and the country a favor by following suit. Some possible follow-ups for next time: “What’s your justification for making your tax apply only to “people who shuffle money around all day” but not to athletes or CEOs? Would it apply to CEOs of banks, insurance companies, or other publicly traded financial firms? Are there any other precedents for taxing income differentially by occupation rather than by source? Is that something we want to encourage in the tax code? Wouldn’t it just make things more complex?--Ira Stoll

Obama has basically confirmed the worst fears about regulators (and himself) which is that business shouldn't be regulated based on any predictable rules, but rather the whims of people who might in their gut just feel that something is wrong. In this instance, people who scream about "uncertainty" may have a point.--Joe Weisenthal

Gibor Basri, Berkeley’s vice chancellor for equity and diversity, could have served a valuable role here by pointing out that the [affirmative action] bake sale was obviously a parody of racial and gender preferences, not a criticism of students themselves. Whatever one thinks about the issue of preferences, he might have said, such political theater belongs to Berkeley’s once-revered tradition of free speech. Instead, Basri chose to stoke the melodramatic self-pity of today’s college students. “A lot of students, especially students of color, read [the bake sale] as placing a higher value on white students,” Basri told the New York Times. Basri, in other words, obeyed the ironclad script for all such minor perturbations in the otherwise unbroken reign of campus political correctness. That script requires that the massive campus-diversity bureaucracy treat the delusional claims of hyperventilating students with utter seriousness. Students in the ever-expanding roster of official campus victim groups flatter themselves that by attending what is in fact the most caring, protective, and opportunity-rich institution in the history of the world, they are braving unspeakable threats to their ego and even to their physical safety. (Indeed, so desirable is this alleged threatened status that a gender and women’s studies major held a sign during Tuesday’s protest of the bake sale decrying the exclusion of “queer people” from the Republicans’ pricing structure.) ... If he really is incapable of understanding such a simple satire, he does not belong in an institution of higher learning—or at least what used to pass for one. --Heather MacDonald

Eight new Dodge Grand Caravans, purchased 10 months ago with $186,192 in federal stimulus funds, are sitting unused in storage at a county park because Waukesha County has found no takers for its proposed workers' van pool program.--Laurel Walker

Photo link here.

Quotes of the day

When it comes to business, everyone on Wall Street wants a piece of Warren E. Buffett. His presidential politics, however, appear to be another matter altogether. On Friday evening, Mr. Buffett was the host of a fund-raiser for President Obama at the Four Seasons restaurant in Manhattan, typically a magnet for the who’s who of finance. Democrats had bet that the star power of one of the world’s richest men would draw an overflow crowd of Wall Street’s elite for an affair that ran $10,000 a plate, or $35,800 for one-on-one time with Mr. Buffett.Yet organizers had trouble drawing the biggest guns of finance. The president’s campaign reserved space for 130 guests but only 116 (including Democratic staff members) attended, according to people with knowledge of the matter but not authorized to speak on the record. And there were few marquee names on the guest list.  ... One person who attended described the atmosphere as subdued and said the event seemed to attract more Buffett followers than Obama supporters.--SUSANNE CRAIG and BEN PROTESS

In the last election, people were tripping over themselves to get on the Obama bandwagon. Things have changed; Wall Street is not happy being under attack by the administration.--Michael J. Driscoll

In the meantime, we deserve to lose. We deserve our pain. The pain is the only hope that we'll ever learn to win again.--Stephen Marche

Silicon Valley entrepreneurs think the tech journalists are all stupid. The sports people think that about the sports journalists. They don’t say that to the sports journalists, because they want the sports journalists to be nice to them. But the level of contempt is very high. You need to kind of cut through that. You’ve got to be willing to not be a member of the tribe. Like, you can think what you think about journalists, but don’t put me in that category, because I’m not that.--Michael Lewis

It’s long been the source of domestic strife. Are women really worse at parking than men? Sorry ladies, official figures have revealed the truth: we are not very good at parking a car. Almost a third of all women who failed their driving test last year came unstuck due to parallel parking.--Emily Andrews

It's weird to write something that you really don't like.--Francis Chan

Uh, I’m pretty sure Jesus told us to have faith like a child. And kids can’t read. Soooo…--Jon Acuff

I'll never be in Joe [Montana]'s category.--Tom Brady

Lots of players are on pace to do ridiculous offensive things, and then there's Wes Welker, who has 40 catches in four games. Reggie Wayne, Hines Ward and Santonio Holmes have 40 too. Combined.--Peter King

... it is a waste of electrons to send me your resumé. ... I have seen dozens of top-ranked Ivy League graduates flame out (or worse, fizzle) over the years, mostly due to lack of energy, drive, or commitment to do what has to be done. Not because they weren’t smart enough; no, they were just too lazy or too entitled to get down in the mud and wrestle with the alligators, which is why we hire young cannon fodder like you in the first place. Survive the alligators, and you have a chance to rise into the haughty position of power, influence, and respect you feel you deserve. Don’t survive, and we’ll toss your mangled corpse out the back door onto a trash heap like a used Kleenex. Did I mention investment bankers are heartless bastards?--TED

When Mr. Obama was elected, some Americans believed he was serious about his campaign promises of immigration reform, an important issue for many voters. Those reforms were expected to include allowing more legal immigrants into the country for work, tourism, and study, and regularizing the status of many of the 11 million undocumented workers already in America. Three years later, immigration reform is more remote than ever. Once elected, the Obama administration has had other priorities, chiefly environmental and health policy. Our immigration policies remain a national embarrassment, confused and confusing and getting worse. Franz Kafka could never have imagined a more opaque, arbitrary, and unjust system than American immigration. It is a testament to the overwhelming attraction of America that people still seek to become Americans despite our immigration policies.--Diane Furchtgott-Roth

Photo link here.

Quotes of the day

A Craigslist search shows women aren't after the bankers.--John Carney

[Sallie Krawcheck] should really be an insurance or financial industry expert and talking-head on CNBC—like Dick Bove. She hasn’t got the operational leadership chops to lead the IT unit that manages Merrill’s Thundering Herd Desk-Top. Would Ike have put a Company Commander in charge of the pivot to Bastogne? Hell no! He asked Patton to do it!--unnamed commenter

I raised $30 million and if you’re saying I can be bought for $5,000, I’m offended.--Rick Perry

I’m offended for all the little girls and parents who didn’t have a choice.--Michelle Bachmann

What does it mean to be a man? No one really knows, but it makes for some damn good television. In the first decade of the 21st century, a critical consensus formed that we're currently living in the golden era of television. ...When you list out the great shows that make up this television renaissance, certain commonalities emerge: high production values, a greater investment in acting talent, and complex plotting that assumes an audience that never misses an episode. But with the sole exception of True Blood—which has camp enough to put it into a genre of its own—all these shows share something else. Every other non-vampire show centers around a modern man struggling with the limitations of his outlook in a world full of complexity and changes that prevent survival through simple reliance on old gender norms. If you want to make a critically acclaimed drama, you need to build up a patriarch, preferably in a highly masculine environment, and then start to peel away his certainty about the way the world works and what it means to be a man in this world. ... Americans can't get enough of watching powerful men run into walls created by the limits of narrow, traditional masculinity. ... The irony is that these new shows about men mine territory familiar to feminism, and could even be described in many cases as explicitly feminist. But for all the feminism on TV, high quality dramas about women haven't taken off. Women get plenty of meaty, complex roles in these top tier shows, but only as supporting characters in shows centered around men's gender drama. ... I blame the nation's inability to deal directly with women engaged in complex, dramatic struggles that call gender roles into question. We are, after all, a country where people can go on TV and call Sarah Palin a feminist without choking on their own tongue. Perhaps the absurdities of being female in this modern era don't lend themselves well to drama, but have to be approached sideways, through comedy. Women do very well heading up some of the best comedy on TV--Amanda Marcotte

Champagne Super Novak.--Brian Phillips

... approximately 40 percent of sunlike stars have at least one low-mass planet orbiting around it. On the other hand, the majority of alien planets with a mass similar to Neptune appear to be in systems with multiple planets, researchers said.--Denise Chow

... how did [analysts] get the 50,000 [additional jobs from the White House plan] number? A preliminary analysis. By whom? When? Using what assumptions? And where did the [New York] Times get that estimate? From the White House press team? But the number 50,000 is treated as something like a fact. One reason it’s not close to a fact is that there’s no way of verifying whether this “estimate” is accurate after the fact. So what’s the meaning of this estimate? None. It’s a meaningless statement. But the media treats it like it’s science. It’s not science. It’s fake science. It’s scientism.--Russ Roberts

... there probably is no market for unbiased media. There is definitely a market for hard-core right-wing opinions. There is definitely a market for what we call mainstream media, where both the opinions and the reporting are biased to the left. There is also a market for something like the Washington Post, where the editorials are pretty centrist while the reporting strikes me as showing zero understanding of anything right of center. --Arnold Kling

Modern research on teacher quality makes clear that the factors used to determine a teacher’s compensation tell us little to nothing about how well the teacher will perform in the classroom. That consistent finding has (or should have) enormous implications for the future of the current system. The results of an employment policy based entirely on credentials uncorrelated to student achievement are obvious: we see wide variation in the quality of public school teachers.--Marcus Winters

The argument for large and expensive efforts to prevent or reduce global warming has three parts, in principle separable: Global temperature is trending up, the reason is human activity, and the consequences of the trend continuing are very bad. Almost all arguments, pro and con, focus on the first two. The third, although necessary to support the conclusion, is for the most part ignored by both sides.--David Friedman

It is a crisis of capitalism because our economic model and policy settings cannot produce sustainable growth, adequate income formation or employment creation. We have lost the housing, financial services and credit creation growth drivers and been left with excessive levels of personal and government debt to unwind, a dysfunctional financial system, and weak labour markets. The capacity to produce and sell goods and services has outstripped that of consumers to borrow and spend. Without credit and jobs, other fault lines have been exposed, including the long stagnation of real wages and extremes of inequality. It is truly a crisis of aggregate demand.--George Magnus

Diversity undermines solidarity. People don't mind paying high taxes to support people "like them." But free money for "the other" leads to resentment and political pushback. If you're a social democrat, this implies a tragic trade-off between social justice for natives and social justice for potential immigrants. But if you're a libertarian, the opposite is true. The welfare state doesn't make open borders impossible. It's open borders that makes the eventual abolition of the welfare state imaginable.--Bryan Caplan

My philosophy is that losers have goals and winners have systems.--Scott Adams

Cartoon of the day: how computer people process the news differently

Source here.

Quotes of the day

Risk is like sex because its payoff depends more on context than quantity.--Eric Falkenstein

Life isn’t a Taylor Swift song, with all the hardship left out. It works more like a Normal Mailer novel, with all the gritty garbage left in. Stop falling for the romantic version of life, and start realizing that a romantic story is told with an enormous amount of pain, sacrifice, suffering and patience.--Don Miller

It seems the journalist profession has forgotten all about the ethics of journalists. It would be inappropriate for Rupert and James Murdoch to be told the source if the journalist wanted it protected and it would be inappropriate for Rupert and James Murdoch to ask. Of course a large slab of the journalist profession has forgotten all about journalist ethics and just assumed that the proprietor should and does know. Of course they have. These journalists are themselves non-ethical. They have forgotten journalist ethics. When you talk to a journalist off-the-record you have - in the past - had a reasonable basis for presuming that the off-the-record conversation will be respected. You can't assume that anymore. Journalists have forgotten the basic ethics of the profession.--John Hempton

Like many a Banana Republic, we may one day be invoking the Lord’s Prayer, pleading – “Forgive us our debts, as we forgive our debtors,” yet at the same time looking towards the heavens á la Saint Augustine with a fervent “let me be chaste, but let it be tomorrow.” ... The press and most professional investors are accustomed to measuring “paper” debt as opposed to walking/living liabilities in the form of people. I call these liabilities “debt men walking” because as long as 330 million living Americans require promised entitlements – the $66 trillion that wear shoes are as much of a liability as the $10 trillion on paper.--Bill Gross

Three percent per year in real GDP is the long-term growth rate of the American economy since 1880. This is considerably below the usual growth rate of GDP in a decade after a major recession. This is why I believe three percent growth is achievable with tax reform (that would include some tax increases), and with major controls over the growth of spending. Keeping real federal spending growth to 1% per year will be a huge challenge since entitlements, like Medicare, will grow much faster than that over the next decade without sizable entitlement reforms that greatly cut their cost to the government. Still, the spending growth rate is doable. A major start would be to cut back some of the sizable expansion of federal spending since 2007. That combined with serious reforms that cut government spending on Medicare, especially for the elderly with decent financial means, would go a long way toward keeping the real growth of federal spending in the range of 1% per year for a decade.--Gary Becker

I have no clue if Randy Moss reached his potential as a wide receiver. Could he have caught 183 TD passes instead of 153? Maybe. Could Mickey Mantle have hit 650 home runs if he had skipped Toots Shor’s and gone home to Marylin and the kids? I guess. Who knows? In 1985 it sure seemed possible that starting pitchers would someday be competing for the Dwight Gooden Award. Stuff happens. ... Randy Moss did not play every snap as if it was his last. Randy Moss had some off-the-field issues that were (and remain) troubling. Randy Moss was sometimes a good teammate, but very often a lousy one. Randy Moss was selfish. Randy Moss had an act that wore thin, and he burned bridge after bridge in his career. All those things are very true, and all those aren’t nearly enough to convince me that a Hall of Fame that has a spot for O.J. Simpson and Lawrence Taylor has to make Randy Moss wait a year or two before giving him the keys. Was he perfect? Nope. Does he leave a mixed legacy? He sure does. But Randy Moss is the very definition of a first-ballot Hall of Famer.--Kirk Minihane

It's going to be scary, scary for other teams. ... I went to the Pro Bowl with Vince and the funny thing is, I said 'What if we were on the same team?' He was like, 'That would be crazy, there's no way that's going to happen.' But 2, 3 years later, here we are.--Albert Haynesworth

All the reasons I hide behind my pseudonym remain in full force and effect; I will only forgo the pretense once Steve Schwarzman and Henry Kravis drop theirs and marry in public on the steps of City Hall. In the meantime, just don't confuse the man behind the curtain with the Wizard of Oz. I have many valuable things in my gift, but yacht rides on the Mediterranean are not one of them. ... [Coach Belichick]'s very detail-oriented and he demands perfection every single time. I've been with some really good teams, with a lot of great players, but I've never been in a situation where it's like perfection every time -- not for a person, but for a team.--TED

I wish I had wrote that.--Cav

Photo links here and here.

Journalism majors, always at the forefront

This was shockingly bad journalism

Methinks the Washington Post is going the way of the New York Times:

1. The most important thing about the ethanol subsidy is that it is bad policy, as the Post editorial page and even previous supporters acknowledge.
2. The next most important thing about the ethanol subsidy is that it is a classic case of rent-seeking. The beneficiaries are relatively few but relatively well organized. It is in the interest of politicians to vote to keep it, even though it is against the interest of most of their constituents.
3. Finally, if you still think that the important issue in the vote concerns what it says about your willingness to raise taxes, then certainly the Democrats are being hypocritical by voting as a bloc to keep the subsidy. Why is it the alleged Republican hypocrisy that gets all of the focus?
4. In explaining the defeat of the Republican attempt to end the subsidy, the article focuses on the actions of Grover Norquist. However, Norquist's influence is presumably on Republicans. But most of those who voted to keep the subsidy were Democrats, and the story offers no insight into how they were persuaded.

Photo link here.

UPDATE:  Steve Landsburg has some good thoughts, too:

Here is Senator John Thune (R-SD), speaking on the floor of the United States Senate:

Ethanol producers have been ripping us off for a long time, and they’ve come to rely on that for a source of income. So it’s only fair to let them rip us off a little longer.

I’m quoting from memory, so I might have the wording slightly off, but that was the gist of it. Oh, wait, here’s the exact quote:

We have a lot of folks who made investments, you have people across the country whose livelihoods depend upon this. I think it makes sense, when we put policy in place and we say it is going to be in place for a certain period of time, that it be honored.

As you can see, my parapharase was accurate.

Senator Thune speaks in the great tradition of his institution. Back in 1848, senators by the score made exactly the same argument for preserving slavery. A lot of folks had invested in slaves, you know. And their livelihoods depended on it.

Before and after FOXnewsification photos

Source here, via John Carney.

Cartoon of the day: What goes for sports commentary, can also go for political discourse, media reporting, and a lot of 'science'

Source here.

A great economist challenges a great journalist

David Leonhardt posits:

The United States no longer leads the world in educational attainment, partly because so few low-income students — and surprisingly few middle-income students — graduate from four-year colleges. Getting more of these students into the best colleges would make a difference. Many higher-income students would still graduate from college, even if they went to a less elite one. A more educated population, in turn, would probably lift economic growth.

Greg Mankiw responds:

The finding [that students from higher income backgrounds have significantly higher grades throughout college conditional on college entrance exam (ACT) scores] is the opposite of what the Leonhardt story suggests. What this means is that if you are a college admissions officer trying to identify the students who will do best in college, as measured by grades, you would give positive rather than negative weight on family income. I am not proposing that they should do this, as colleges have many goals when putting together a class. But it does seem that the hypothesis implicit in Leonhardt's article is not supported by the data.

There's a lot to think about here. For one, Peter Thiel's program to incent kids not to go to college, because we have too many college graduates. But the biggest thought is, what are we trying to normalize here: intelligence, income, or status? Bryan Caplan and Arnold Kling have interesting thoughts.

As much as I am a fan of great journalism, I still think that my engineering curriculum was a lot more challenging than any journalism program anywhere.  I concede I'm not a great writer, storyteller, or entertainer.  That's why I talk to my computer more than people for a living.

I think Mankiw is more evidence-based than Leonhardt, and I weight my truth sourcing portfolio accordingly.  I don't believe I can improve things until I know where things are first.

Sad news: Mark Haines, CNBC anchor, has passed away

My condolences to his family.  I liked his style, wit, intelligence and honesty.  He seemed to love his family and to work really well with colleagues.

His and Erin Burnett's 9-11am Squawk On The Street was my favorite CNBC timeslot over the past many years.

Photo link here.

UPDATE:  Jim Cramer making sense, saying about Haines:

He was our Sevareid, our Cronkite, our David Brinkley.

I'm thinking, yeah, that's about right.

UPDATE:  Dick Grasso, former NYSE president, compares Haines' breaking 9/11 coverage to Cronkite's reporting of the Kennedy assassination.

UPDATE:  By corroborated accounts, Haines called the Nasdaq 100 top in 2000 and the Great Recession bottom in 2009.  I think its fitting that Alan Greenspan called CNBC this afternoon to send in his sympathies.  Before today, I had not realized that Haines invented the Greenspan Briefcase Indicator.  The best anecdote, that I've heard repeated, is how an editorial manager (Bruno Cohen?) chewed Mark out for wearing a helmet on the air, and then Jack Welch (then CEO of GE, which is the parent company of CNBC) said it was the greatest thing he'd ever seen on air.  That was the license Haines needed, and he never looked back.  Sometimes, the genius of corporate executives lies in the genius that works for them.

UPDATE:  Ron Insana pays another high compliment:

He was our Chris Berman.

I think Mark Haines did ... go ... all ... the ... way!