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hilzoy@hilzoy.bsky.social |
Krugman on X. (h/t LGM.) -- Consider just the economic consequences. Business absolutely relies on the rule of law. (Even when they break the law, they also rely on the security that most people obeying the law provides.)
13 replies 30 reposts 199 likes
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rone
@ennui.org
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Also here
0 replies 0 reposts 3 likes
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@turrigiano.bsky.social
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I have ruminated on this point. I think executives and ultra wealthy believe the law will continue to protect them no matter what. They believe they will be insulated from the effects of instability and chaos. In the short term this is probably correct.
1 replies 0 reposts 2 likes
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hilzoy
@hilzoy.bsky.social
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Some people might think they'd do better in a state like Russia, where you get contracts based on your ties to people in power, and your business absolutely depends on your staying close to them. But most of them are wrong. (Exceptions: Don Jr., Jared K.)
1 replies 2 reposts 42 likes
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Barb Dybwad
@doctorparadox.bsky.social
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It's easy to become delusional when you're so far removed and insulated from foundational reality for so long. A lot of very wealthy kooks out there believe as fervently in "free market ideology" as the Christian nationalists do in their chosen religion -- similar energy of blind self-righteousness.
0 replies 0 reposts 2 likes
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Geoff Buchan
@rotovalue.bsky.social
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He posted the same comment here:
bsky.app/profile/pkru...
0 replies 0 reposts 1 likes
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Philipp Stehr
@philippstehr.bsky.social
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He’s also on bsky: bsky.app/profile/pkru...
0 replies 0 reposts 14 likes
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Sock Puppet Pundit
@sockpuppetpundit.bsky.social
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Leopards. Face. Noms.
0 replies 0 reposts 1 likes
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my plex weighs a ton
@zanzibarspices.bsky.social
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The idea of having their kinda money on the line and being so blasé about these risks… But I guess not the first time seemingly smart ppl massively underestimated some risks
1 replies 0 reposts 1 likes
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davenow
@davenow.bsky.social
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Exactly, exactly this. It is perhaps the single biggest strategic advantage the US has economically.
0 replies 0 reposts 1 likes
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Stephen Nuñez
@socio-steve.bsky.social
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That the market is constructed and kept stable by the state is something that a lot of folks, especially but not exclusively on the right, struggle to grasp.
2 replies 1 reposts 28 likes
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RDS (formerly shawphd)
@rds773.bsky.social
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All you have to do is look back at how they reacted to covid When you spend your life being able to buy or influence yourself out of trouble, your sense of risk goes all to shit
0 replies 0 reposts 3 likes
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Tamara Keel
@tamslick.bsky.social
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The level of normalcy bias is legit scary.
0 replies 0 reposts 4 likes
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Kevin van Haaren
@kevin.crime.group
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Big "we got through the first one pretty well, 2nd should be the same" vibes from people that should absolutely know better.
2 replies 1 reposts 18 likes