As reported by Alternet, the Italian people do not want multi-national corporations controlling their water supply. The vote can be seen as a declaration that water is a basic human right, which should also be seen as a stern pushback to the Ayn Randian Free-Market Fundamentalism that prevails in many places these days.
Most economists failed to predict the market crash of 2008--so many that it is hard to count them all. But how is this even possible? It's on a scale of this hypothetical: 98% of meteorologists failing to predict a huge hurricane hitting the coast of Florida. Consider this description of the problem:
Like everyone else, we wondered how could the world's leading economy and its top economists, including the Federal Reserve Chairman, Ben Bernanke - a man who is surrounded by a network of smartest investors, scientists, and think tanks - miss the financial crisis and its impact on the US Economy?
The predictive failures by economists causes a friend of mine to argue that, as a general rule, economists are not scientists at all, and that they are "frauds." In my opinion, he's overstating the point because there were some economists who clearly predicted the burst of the housing bubble, but most of the economists who take to the airwaves don't seem to be scientists like the scientists who develop vaccines or design solar panels. They are often terrible at making predictions, and their lapses can look cataclysmic in retrospect. They are like sportscasters, always looking forward to the next game, trying hard to divert attention from their previous failures. They seem more like lawyers or PR specialists than scientists. This article at Wharton suggests that the economists who failed to predict the housing bubble lack "common sense":If you're in a good mood, and you'd like to stay in a good mood, don't reat Gordon Long's "Economic Death Spiral." I warned you . . .
What is the least important aspect of rebuilding civilization? Abstruse Goose has a nomination.
Bees look free. They seem to dance capriciously from flower to flower. No one seems to be telling each bee what to do. Anyone who has carefully studied bees, however, knows that they are not “free.” The health and welfare of bees and their hives are highly sensitive to a great many factors. Here are a few:
A) Excesses and deficits in rainfall and temperature; B) The survival and location of plants from which bees gather nectar; C) The prevalence of parasites and viruses; D) The existence of rival hives and predators; E) Human encroachment, including pesticides and destruction of habitat;Whether bees thrive is subject to these and many other factors. If any of these factors is changed, the bees will be affected. “Free as a bee,” is an expression I have heard from time to time, but it turns out that bees are not actually very “free.” Hard-working bees and hives are often killed for factors beyond their control. [more . . . ]