10 Sunday Reads – The Big Picture

Avoid your eyes! Mine Sunday morning Look at inefficiency, corruption and policy failures:

Slow Coup Mark Danner What did Donald Trump take from our democracy? Donald J Trump’s primary advantage is that he is always underestimated: he is treated as a narcissist, a deranged and ignorant bull in the China shop of American governance. True, he flaunts his narcissistic obsession with unrelenting pride. But despite it all, he is an expert on grievances, resentment, and anger, and he is adept at crafting a creative and motivating message out of these lucrative political sentiments. (New York Review of Books)

The world’s hottest housing market is facing a painful reset Flourishing real estate markets are bracing for double-digit price drops as consumers face increasing financial pressure. (Bloomberg)

Focusing on misinformation leads to a profound misunderstanding of why people believe and act upon bad informationDisinformation has been a prominent model in explaining social, political, and epidemiological phenomena since the middle of the last decade. However, Daniel Williams argues that the focus on misinformation is limited when it is used to explain these phenomena. Primarily, because it distracts us from the more significant ways in which information can be misleading, and ignores the social dynamics of competition involved in information markets that produce effective justifications for the preferred narratives of different social groups. (London School of Economics)

Oops, Minnesota accidentally certified THC-Spiked Seltzer Craft breweries are serving up cannabis-infused drinks after a sudden change in the law. (vice)

Dry detergents were disappearing even before the epidemic: Starchy T-shirts don’t have the same appeal as they did before. But there are forces greater than the virus at work here. (work week)

They built a Minecraft crypto empire. Then it all fell apart: Kids in the Philippines were making hundreds of dollars on Minecraft being played to earn, until new rules sent society into disarray. (Rest of the world)

Insurance companies are forcing the change in police departments that they have always resisted The rising cost of settlements due to police misconduct has prompted insurance companies to ask police departments to reform their tactics or give up coverage. (Washington Post)

More than 335,000 lives could have been saved during the pandemic if the United States had had universal health careIn a new study, Yale researchers say: In the United States, death rates from COVID-19 are higher than in any other high-income country — and our fragmented and ineffective health system may be largely to blame. (Yale School of Public Health)

Martha’s Vineyard Immigrant Journey Has Echoes From a Dark Past: Freedom’s Reverse JourneysWebb said the citizens’ councils tried to disguise their racism with respect. They hold meetings in luxury hotels downtown and wear suits and ties. “They could be members of the police force,” Webb said. “They could be bankers, businessmen, and the like.” (NPR)

Virginia Commonwealth University apologizes for the 1968 black man’s heart transplant without his consent: “VCU humbly acknowledges and deeply regrets the historical injustice and systemic marginalization of individuals because they do not reflect the society that VCU works to advance – a society in which people of diverse backgrounds and experiences are given the dignity and respect their humanity deserves.” (Richmond Times Dispatch)

Make sure to check out Master of Business an interview This weekend with Albert Wenger, Managing Partner at Union Square Ventures. Co-founded 5 companies; was head of del.icio.us by selling the company to Yahoo; Angel investor Etsy + Tumblr. Wenger is the author of a book The world after capitalAnd the Describe the transition to the age of knowledge + its effects on business and society.

Institutional clients (>$50 million) surveyed said they were more likely to have their investment manager fired for speaking out about a social or political issue than they were to receive a regulatory penalty

source: CFA Institute

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