We are in the midst of a shift in how we encounter information. And we’re wrestling with three paradigms at the same time. The oldest of these paradigms, for for most of us, is edited media. … You have a powerful gatekeeper, the newspaper editor, who says, “Here are things you need to pay attention to today. Give this a small amount of your time, and you will be roughly up to date with what you need to know.”
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Much of class and isolation and pulling away is this sort of illusion that somehow we can be apart from the suffering that is in our midst. And that’s a myth. The social isolation that many people in the one percent experience is a wound.
What’s key…is that we all need to work together. There’s no way for all of us to know about each other. We’re in that part of this new way of being that there’s too many players. It’s too chaotic. There is no center, there is no hub. But we need to find ways to work together, and to lose the idea that any one of us is the solution. Because if any one of us were the solution, we wouldn’t be where we are now.
We know very little about complex financial systems and how systemic risk, as it’s called, is computed and how you would manage policies. And if you look back at the financial crisis, you can either say, as many economists do, “It all had to do with badly-designed rules,” which may be part of the story; it’s certainly part of the story. Or it may have to do with the interaction of those rules and human nature, like mortgage broker greed, optimism… And you see it not just in individuals who now have houses and foreclosure, but at the highest levels.
Historically, there have been all of these moments, moments of social turmoil where people have come together and they have questioned a lot of the common sense of their eras and they’ve torn it to bits. And the result has been kind of…truths, like new truths that become common sense later.