The people I admire are mostly moving in spirals, guided by curiosity, poking their heads into things at odd angles, and reporting back with offerings. Often they’re taking the time to think about their values and then embody them through practice. I say “practice” instead of “action” because the latter still feels too close to…the other thing. Most importantly, they’re all in constellation with (and inextricable from) a web of other people who are thinking, wondering, helping, and connecting, too. And so it feels disrespectful to label them as “heroic”.

As Le Guin says:

[…] it’s clear that the Hero does not look well in this bag. He needs a stage or a pedestal or a pinnacle. You put him in a bag and he looks like a rabbit, like a potato.

This combination of words (rabbit/potato) makes me laugh every time.

For inflation to happen in the wake of the stimulus, the spending would have to lead to too much money chasing not enough goods. Blyth gives some pretty good reasons to be skeptical that this will happen.

Start with the wealthy: they don't spend much, relative to their income. Their consumption needs are already met (that's what it means to be rich). You can only own so many Sub-Zero fridges, and even after you fill them with kobe beef and Veuve Cliquot, you're still rich.

What rich people do with extra money is speculate. That's why top-level giveaways generate socially useless, destructive asset bubbles. Remember, these aren't inflation, which is good, because everyone agrees that inflation is hard to stop once it gets going.

They're speculative bubbles. We have a much better idea of how to prevent bubbles: transaction taxes, hikes to the capital gains tax, and high marginal tax rates at the top bracket.

Ada Palmer explains how epistemology actually works (read the whole thing):

So if you were writing a preface to Epictetus, you would write a preface that said “He was a pagan, but he was almost as good as St. Paul!” And then ten years later when there was a new edition and someone wanted to make that edition sound better, and I have all of these editions in Latin and I have the article version of this where you can read the translations of all of these, they’ll say they want to make a stronger claim, so they’ll say “Epictetus’s moral maxims are barely less good than St. Paul’s.” And the next one will say “Epictetus’s moral maxims are just as good as St. Paul’s!” And the next one will say “Epictetus’s moral maxims, even though he was a pagan, were even better than St. Paul’s, because they are simpler and clearer and more effective at teaching ethics.” And by the time you get to the 1700s there’s an edition, which you can tell is copied from these earlier editions, they even plagiarize sentences from each other’s prefaces, it’s direct evolution, that says “Epictetus by the light of Reason alone and without the necessity of scripture or revelation arrived at better ethics than St. Paul.” And that is the kind of book that Voltaire owns when he is a kid.

and brings it up to date:

Real changes in what a society thinks, in what a culture values, come from thousands of people debating something.  It comes from that classroom where people are talking about Epictetus. And the modern equivalent of that classroom where people are talking about Epictetus then is this talk, this convention, blogs and social media spaces, even Twitter, anywhere where people are talking about books and events and thoughts. What’s going to shape the future? It’s people online debating about which actions are ethical or unethical in Game of Thrones. That’s exactly like these classroom discussions of Epictetus, which turn into introductions to Epictetus, which turn into the education of Voltaire, which turn into the pen mightier than all swords. Random conversation is where it happens, not one genius, thousands of people exchanging ideas. And it doesn’t result in the world those people envision.  Renaissance people did try to intentionally re-engineer the world, and they did sort-of have a shared plan, they wanted to make a world that was more ethical, that had a lot of moral education of its elites in those values which both Ancient Rome and Christianity shared, and this would result in an era of peace.

 

It didn’t.