Tuesday, August 26, 2014

Why Artifice Rules the World: We Have No Choice

There's only one small problem with relying on artifice: we haven't actually fixed what's broken in the real world.

As I noted yesterday, we now game dysfunctional systems rather than actually repair them. Rather than fix the dysfunctional system of higher education, for example (as I proposed in my book The Nearly Free University and The Emerging Economy), students and their parents go to extraordinary lengths to game the Ivy league university admissions system.

Rather than actually address the structural causes of unemployment, we lower interest rates to zero and reckon the resulting financial bubble will fix unemployment (and everything else).

To avoid having to deal with unemployment as an issue, the unemployment rate is heavily gamed by counting marginal jobs (working 1 hour a week--you're employed!) and removing tens of millions of unemployed people from the work-force.

The primary tool of increasing prosperity is the expansion of asset bubbles that supposedly boost the wealth effect, an internalized belief that one is wealthier. This internal belief is presumed to encourage more borrowing and spending which is then presumed to lift all boats in the economy.

This is of course all artifice: the elaborately choreographed applications to the Ivy League, the massaged statistics designed to manage our perceptions of reality rather than address reality itself, and the selling offree money for financiers as a policy that magically helps everyone, even those far from the money spigots of the Federal Reserve.

How did we arrive at a systemic dependence on contrivance and artifice to manage problems? We have no choice. Why do we have no choice?

Because any attempt to actually fix dysfunctional systems necessarily steps on the toes of deeply entrenched vested interests that profit from the dysfunctional Status Quo-- interests who will devote every resource in their command to water down, co-opt, divert or defeat any reforms that lessen their share of the national income or their political power.

As a result, true reform of hopelessly dysfunctional systems is politically impossible. Since politicians are elected to give everyone more of what they want, politicos have no choice to but to game the dysfunctional systems via perception management and statistical sleight of hand to make them appear to give everyone more of what they want. Meanwhile, the politicos collect personal fortunes from the Elites and insiders benefiting from the dysfunctional Status Quo.

Artifice and perception management appear to be win-win: everybody seems to win if they see dysfunction as not just "the way the world works," but as a positive approach that benefits everyone in some fashion.

There's only one small problem with relying on artifice: we haven't actually fixed what's broken in the real world, and those dysfunctions continue to fester beneath the glossy surface of gamed statistics and happy stories we tell ourselves about how well everything is working.

At some point--the actual date is unpredictable, but 2021-2025 is as good a guess as any--the dysfunctional systems will break down and no amount of artifice, bogus statistics or perception management will mask the rot.

Once reality crashes through the thick constructs of artifice, faith in the Status Quo will be lost. At that fragile juncture of destiny, the opportunity to fix what is broken will finally emerge.



Get a Job, Build a Real Career and Defy a Bewildering Economy(Kindle, $9.95)(print, $20)
go to Kindle editionAre you like me? Ever since my first summer job decades ago, I've been chasing financial security. Not win-the-lottery, Bill Gates riches (although it would be nice!), but simply a feeling of financial control. I want my financial worries to if not disappear at least be manageable and comprehensible.


And like most of you, the way I've moved toward my goal has always hinged not just on having a job but a career.

You don't have to be a financial blogger to know that "having a job" and "having a career" do not mean the same thing today as they did when I first started swinging a hammer for a paycheck.

Even the basic concept "getting a job" has changed so radically that jobs--getting and keeping them, and the perceived lack of them--is the number one financial topic among friends, family and for that matter, complete strangers.

So I sat down and wrote this book: Get a Job, Build a Real Career and Defy a Bewildering Economy.

It details everything I've verified about employment and the economy, and lays out an action plan to get you employed.

I am proud of this book. It is the culmination of both my practical work experiences and my financial analysis, and it is a useful, practical, and clarifying read.

Test drive the first section and see for yourself.     Kindle, $9.95     print, $20

"I want to thank you for creating your book Get a Job, Build a Real Career and Defy a Bewildering Economy. It is rare to find a person with a mind like yours, who can take a holistic systems view of things without being captured by specific perspectives or agendas. Your contribution to humanity is much appreciated."
Laura Y.

Gordon Long and I discuss The New Nature of Work: Jobs, Occupations & Careers (25 minutes, YouTube) 



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Thank you, Price T. ($50), for your splendidly generous contribution to this site -- I am greatly honored by your support and readership.Thank you, William H. ($50), for your superbly generous contribution to this site -- I am greatly honored by your steadfast support and readership.

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