Who is going to fact check the political ads on social media fact checkers? Big Brothers?

Sir, you opine: “The spread of political advertising on social media requires companies fact-check political ads in collaboration with trusted, independent organizations”, “Online political ads are in urgent need of regulation” November 1.

“Trusted, independent organizations”, does that not ring a bell with respect to trusting the human fallible credit rating agencies with so much power to decide on the risk weighted bank capital requirements?

I am reminded of an Op-ed I wrote in 1998 in which I argued, “In many cases even trying to regulate banks runs the risk of giving the impression that by means of strict regulations, the risks have disappeared” 

And in it I opined “in matters of financial regulations, the most honest, logical and efficient is simply alert to alert about the risks and allow the market, by assigning prices for these, to develop its own paths”

Sir, if I was concerned then, how much more concerned should I not be with the possibility of social media, fact checkers and Big Brothers entering joint ventures. 

So no Sir! Much better is a continuous reminder that: “Nothing advertised here has been fact checked and so even though it sounds interesting and correct, it is quite possible that it is all fake, even an outright shameful lye”

@PerKurowski

“Mommy, what’s worse, murder or Brexit?”

Sir, Bronwen Maddox writes: “Britain’s Parliament Square has returned to a kind of peace. MPs are off on their Easter break, thanks to the latest Brexit deadline extension. Most of the protesters are taking an Easter break too, it seems, and have suspended their pageantry of 12-foot banners and elaborate costumes, competing for the world’s attention. “Brexit has broken the political parties, not the constitution” April 16.

But Maddox predicts the peace is just temporary, because “the deadlock of Brexit is a political failure”.

Sir, I absolutely do not know enough about Britain’s constitution or political systems to opine on the article, but what I do know for sure is that in the Brexit vs. Remain type of deep divisions you are not alone. These odious divisions are happening everywhere, with all type of issues, as a result of polarization and redistribution profiteer being able, often anonymously, to send out their messages of hate, envy or fake news, on the web, at a marginal zero cost.

On April 13, briefly visiting London, while walking on Fleet Street, I heard a 7-8 years old girl ask: "Mommy, what's worse murder or Brexit?” “Thank God, in this case, the mother was at least very clear about the answer, but how could that question have popped in this girl’s mind? 

And I know that many children around the world might ask similar questions about for example: murder or Trump, murder or climate change, murder or filthy rich, murder or etc.

Sir, I do believe we should declare a worldwide emergency, before we lose all possibilities of a civilized social cohesion.

What to do? I don’t have a complete answer, but I would suggest the setting up parallel social media, in which no one that has not been completely identified can participate, so as that we can at least shame anyone producing excessive divisions.

To instate also a very small payment for each web contact produced by anyone that might be looking for some type of political funding, could be helpful.

PS. Yesterday I went to Speakers' Corner. There was no one speaking there.

@PerKurowski

Instead of looking out for fake news, which is a mission impossible, go after what motivates and facilitates it.

Pilita Clark writes that “Britain’s health secretary, Matt Hancock, later warned social media companies could be banned if they failed to remove harmful content [and] ministers were looking at new laws to force social media companies to take down false information about vaccines spread by ‘anti-vaxxers’”. “Facebook is not our friend, no matter what their adverts say” March 29.

Ok, they identified one fake-news. Congratulations! 

But let me assure you that for each one of these you are able to track down, at least one hundred new ones will be spreading like wildfire.

To stop fake news, as well as to stop that odious messaging of hate and envy by polarization and redistribution profiteers, you have to be able to identify who is making money on it, and make it harder for them to make money on it.

Two things are needed for that. First to set up a parallel social media in which only duly identified individuals can participate, so that they could be individually shamed; and then place a minimum minimorum access fee on each social media message, so that they can not operate with a zero marginal cost.

Where should that access fee go? Clearly to us citizens whose data is being exploited and not to some other redistribution profiteers, and much less to some on the web-ambulance-chasers.

Pilita Clark also refers to George Orwell’s “Nineteen Eighty-Four”. Rightly so, we need to read and reread it so as to fully understand that the worst that could happen to us citizens, would be these mega social media enterprises teaming up with Big Brothers here and there.

@PerKurowski

If universities and professors had in payment to take a stake in their student’s future, you can bet students’ merits would mean more than parents’ wallets.

Sarah O’Connor writes: “Those in the top 1 per cent of the income distribution complain that the growing wealth of the “0.1 per cent” has priced their children out of the sort of private education and housing that they themselves enjoyed.”“We must stop fighting over scarce educational spoils” March 27.

They are wrong! All the income of the growing wealthy “0.1 per cent”, is immediately returned to the real economy, when they buy a lot of assets, like yachts, and services, like yacht crews, which are all really not of much real interest, or use, to the 99.9 per cent rest of the economy.

And if there is anything that really has helped price out private education and housing, that’s the excessive availability of financing. For instance if the risk weights for the bank capital requirements when financing residential mortgages, 35%, were the same as when financing an unrated entrepreneurs, 100%, houses would be more homes than investment assets, and people would have more jobs with which service mortgages or pay utilities.

But that truth does not stop polarization and redistribution profiteers from stoking the envy levels in the society, especially when it can often be done on social media in an anonymous way, and at zero marginal costs.

Now if you really want less discrimination against those who poor might use education better, align the incentives better, and don’t let universities and professors collect all upfront.

@PerKurowski

My tweet on why the world is becoming a much angrier place than what’s warranted by the usual factors.

Sir, Chris Giles writes “Britain is an angry place: furious about its politics, unsure of its place in the world and increasingly resigned to a grinding stagnation of living standards” “Anger and inequality make for a heady mix” March 1.

Giles analyzes the increasing discontent as a function of the economy, in terms of economic growth, inflation, income inequality, weak productivity and employment rates, whether existing or expected.

That is certainly valid but, sadly and worrisome, there is much more to the much higher levels of anger brewing than could seem be warranted by that. That goes also for the rest of the world. 

Sir, what is happening? Here is my own tweet-sized explanation of that.

“Shameless polarization and redistribution profiteers, sending out their messages of hate and envy through social media, at zero marginal cost, are exploiting our confirmation bias, namely the want or need to believe what we hear, up to the tilt. It will all end very badly.”

https://perkurowski.blogspot.com/2010/05/speakers-corner-speakers-have-moved-to.html

@PerKurowski

If output displacement hides productivity, so does input displacement.

Sir, Dr Peter Johnson, responding to Diane Coyle’s “Conventional measures pose the wrong productivity question” August 16, argues that “Shift in output definition [is] at the heart of the productivity puzzle” and concludes “We are not counting apples for apples”,August 20.

As one example of “output displacement” output Johnson writes that “A great deal of retail banking activity has been displaced to private individuals [as a result of internet technology] and is not included in the calculations of output or productivity.”

There is also the other side of that same mirror namely that which you could call input displacement. 

In a letter to you referring to that same article by Diane Coyle I mentioned a post by Dan Dixon, in Bank of England’s “bankunderground” blog, titled “Is the economy suffering from the crisis of attention?” 

It said, “With the rise of smartphones in particular, the amount of stimuli competing for our attention throughout the day has exploded... we are more distracted than ever as a result of the battle for our attention. One study, for example, finds that we are distracted nearly 50% of the time.”

Sir, if those interruptions were recorded for what they really are, reduced working hours and increased consumption of distractions, we would probably see a dramatic increase in productivity, in real salaries, in voluntary unemployment and in GDP.

In other words our current economic compasses might not be working properly, risking taking us in the wrong direction.

@PerKurowski

When analyzing labor markets, do not ignore the time being wasted/used consuming distractions.

Sir, (as usual) I read with much interest Sarah O’Connor’s article on “labour shortages being reported gloomily all over the developed world” “Labour scarcity helps heal workers’ deep financial scars” July 11.

I think she forgot to include in her analysis the fact that more and more time is used during working hours in distractions. On a recent visit to a major shop in the Washington area, 8 out of the 11 attendances I saw were busy with some type of activity on their i-phones, and I seriously suspect they were not just checking inventories.

Less hours effectively worked, should translate not only in labor shortages but also into higher real salaries. And I also frequently ask myself what would our economic data be telling if treated the distractions as consumption. Could productivity have been increasing fabulously without us noticing it?

@PerKurowski

Should a sanctioned bank like Wells Fargo be allowed to immediately advertise itself as a do-gooder?

Sir, with respect to the recently sanctioned Wells Fargo we can observe that, in order to clean its name, it has now launched, as is typical in similar circumstances, advertising campaigns highlighting its social responsibilities. Should it really be allowed to do so?

Even though Wells Fargo should of course try to do its utmost to compensate their recent bad behavior, I believe it should not be able to advertise itself out of a bad image, for at least two years. A prohibition of that sort would also serve as a great deterrent to others.

And, while being on the subject of modernizing sentences, as a Venezuelan I ask, could the sanctions of those that commit crimes against humanity but have not yet been captured include blocking their presence in social media forever, and perhaps also that of all their immediate families for at least some years?

Of course those criminals could use false names, but who would like to take a (face-recognizable) selfie doing so?

@PerKurowski

What if workplace distractions were considered part of consumption instead of part production?

Sir, Tim Harford, who has blocked me on Twitter writes: “Bank of England’s unofficial blog…compared plunging productivity with the soaring shipments of smartphones. Typical productivity growth in advanced economies had hovered steadily around 1 per cent a year for several decades, but has on average been negative since 2007. That was the year the iPhone started to ship.” “Computers are making generalists of us all”, December 6.

That iPhone and many of its close or distant cousins, cause a lot of distractions. If that time distracted was classified not as time of production but as time of consumption, and outputs remain fairly the same, would that not point at much higher productivity and much higher real salaries?

https://teawithft.blogspot.com/2017/11/what-does-going-from-10-to-50-level-of.html

https://teawithft.blogspot.com/2017/12/the-distraction-factor-forces-us-to.html

PS. Harford writes here also a lot about Power Point presentations. Here my long ago take on it

@PerKurowski

What if we in writing had to authorize phone companies to listen to our calls, in order to have access to phones?

Brooke Masters writes: “when I link our Amazon Echo speaker to my son’s Spotify account, I have no idea whether I am violating one of the thousands of terms and conditions he agreed to with his account. Furthermore, does that act give Amazon the right to send him advertisements based on the songs we play?” “Take ownership of the sharing economy” December 29.

She is absolutely right. The rights we seem to have to give up in order to gain access to social media and alike, though defined in small letters in thousands of unreadable pages, is one of the most undefined issues of our time.

Some questions:

Should the marginal cost for social media owners to access, and waste, so much of our limited attention span, be zero?

Should we be able to copyright our own preferences so that we at least can have something to negotiate with?

How much can we allow being distracted during working hours before our employer has the right to deduct our salaries paid?

How will such working hours distractions be accounted for in employment statistics?

How is all this free or very cheap consumption paid by used attention spans be accounted for, for instance in GNP figures?

Should social media owners be allowed to impose their own rules or should that not be subject to some kind of a special arbitration panel?

How our global differences be managed? Does a government that interferes with its citizens’ rights of access to social media have access to other web sites of other nations?

@PerKurowski

What does going from a 10% to a 50% level of distraction signify for full-time employees’ real salaries?

Sir, Sarah O’Connor writes “Males in well-paid full-time employment, earning 2.5 times the median wage, are now working slightly longer hours on average than two decades ago, according to the Resolution Foundation, a think-tank.” “Robots will drive us to rethink the way we distribute work” November 29.

In Bank of England’s “bankunderground" blog we recently read: “With the rise of smartphones in particular, the amount of stimuli competing for our attention throughout the day has exploded... we are more distracted than ever as a result of the battle for our attention. One study, for example, finds that we are distracted nearly 50% of the time.”

So if 50% of the time is now spend being distracted, and since those not employed full time are not equally remunerated for distractions, that of “earning 2.5 times the median wage”, could de facto be a serious understatement.

Sir, just think about what going from for instance a 10% to a 50% distraction signifies to full time employees’ real salaries. Fabulous increases!

PS. And what is its impact on productivity in terms that less effective working time is being put into production?

PS. Or what would the real employment rate be if we deduct the hours engaged in distractions? A statistical nightmare? Will we ever be able to compare apples with apples again?

PS. And how should all these working hours consumed with distractions be considered in GDP figures?

PS. Robots will not only drive us to rethink the way we distribute work. It also forces us to think about how to create decent and worthy unemployments.

@PerKurowski

We need a contact-tax to make sure social media profiles us more adequately, and leave us some time-off to think.

Sir, Tim Harford writes: “fake news entrepreneurs have realised that it is far more profitable to invent eye-catching fables than to research and confirm the everyday truth”, “How to poke Facebook off its perch”, November 4.

The real reason for that, a bit hard to acknowledge, is that most of us (me included) find it much more amusing to read eye-catching fables than blah-blah truths.

So given our weaknesses of falling for fables; and given our de-facto limited attention span, 60 minutes times 24 hours per day; and given our need for some time-off so we do not forget how to think and reflect on what we are being fed with, we must put up some very high walls or dig some very deep moats as self-defense.

At this moment Facebook can send out a message to two billion users at basically zero marginal cost!

So one way could be forcing social media and their colleagues to pay a minuscule fee for any message sent to us that does not originate directly from our private friends; call it a contact-tax.

That would at least force Facebook to target us more carefully. “Profiling us more carefully”? That might sound awful, but being wrongly profiled should be worse… or perhaps not.

But of course the revenues of any contact-tax should not go to increase the redistribution profiteers’ franchise value, but be shared out among us all by means of a Universal Basic Income.

PS. This does not mean I give up on my right to strive for an intellectual property right, a copyright on my own preferences, in order to have something more to bargain with in this data driven world.

@PerKurowski

If you cannot lose yourself, how on earth will you learn about finding yourself?

Sir, Janan Ganesh writing about needed freedom asks: “Where can you lose yourself, either in crowds or in isolation from them? Where can you meander for hours? Where do you have to watch your words and manners the least? Where lets you get to and from other places on a whim?” “Citizen of nowhere” Prize for freest city goes to . . .” October 14.

Yes, where? And if today you can, where will you go tomorrow when facial recognizers follow you around?

Frightening. I have always held that all young (and perhaps old too) need to be able to lose themselves in order to gain the insights that allow them to find themselves. And that discovery journey must of course not be carried out with the assistance of a GPS.

Modern technology, including of course social media, seems to dramatically be changing the way young (and old too) position themselves in life and society.

PS. Try the following experiment. When you are driving down a mountain and you have some young passengers in the car, mention that you are going south, and when you are driving up, mention that you are going north. You’ll be amazed how many young will think you are right, without giving the least consideration to the fact you are driving in the opposite direction

@PerKurowski

The marginal cost for others than my friends to connect and bother me on the web, should not be zero.

Sir, Rana Foroohar, with respect our lives and adventures on the web advises us “to think much more carefully about three things. First, the extent of information that we reveal and all the myriad ways in which it can be used. Second, whether the products and services we receive in exchange for our data are worth it, or whether the terms of the exchange should be reconsidered. And third, how governments may shift the rules of the new digital playing field, and what it will mean for capitalism in the 21st century.” “Tech’s fight for the upper hand on open data” October 9.

She might be right, but boy that is a big task. I get tired of even thinking I must get through all that.

My current day-to-day concerns are much more mundane, like that of being able to get the most of what I want out of the web, with my very limited attention span. Let us say out of the 180 minutes I might be on the web each day, I would be happy if I were not rudely interrupted more than 50% by distractions; like those fake-news that require so much self-discipline not to click. But the truth is that, for the time being, the robocalls I get on my cell and on my landline are much worse. These demand an immediate attention that the web does not.

There is though one aspect of this all that I have given a lot of thought; and that is on how all revenues generated by exploiting our own preferences should be distributed.

If I, as the owner of the intellectual property rights on my own preferences, cannot be duly paid a royalty for these, at least I do not want others to be able to exploit them for their own causes.

If 50% of all web revenues went to help fund a Universal Basic Income, perhaps that could be an acceptable compromise for me.

But back to our limited attention span, the major problem is that the marginal bothering cost for social media or other service providers to connect with us is zero. If each connection that does not originate from someone directly authorized by us is taxed with US$ one cent… then I am sure those connecting would at least think a bit more before bothering me.

And, of course, those taxes should also help feed a Universal Basic Income. The last thing we need is social media and redistribution profiteers teaming up in order to engage in mutually profitable crony statism. 

@PerKurowski

The numbers of ads on Facebook and Google need to be limited, and those clicking these should also be paid something.

Sir, Rana Foroohar, with respect to those services we supposedly receive free from Goggle, Facebook and similar for free, correctly writes “free is not free when you consider that we are not paying for these services in dollars, but in data, including everything from our credit card numbers to shopping records, to political choices and medical histories. How valuable is that personal data?” "Big tech makes vast gains at our expense", September 18

Indeed, more than 10 years ago I wrote you a letter in which I said: “Clearly a search engine should mostly be valued in terms of the services it offers to the searchers but in this case it is actually the searchers that become the searched and this leads to some very strange signalling effects”.

And since then I have been all over the web promoting among others the possibility that we should be able to get an intellectual property right over our own preferences, in order to have sometRhing to negotiate with… and then on how we could enter into agreements with ad-blockers that could help us exploit those IPRs.

But lately what has also come to concern me, is how our very limited attention span is being overexploited, leaving us too little time for reflection on our own realities.

Would it not be great if Google or Facebook, or any such similar social media service we get hooked on, and which has over a million members, could only send each member ten adds per day, and that these would receive 50% of any ad revenues collected as a result of having clicked on the ad?

Under no circumstances should we humans allow the marginal cost of bothering us to be zero.

I believe that could benefit all parties involved. Even Google, Facebook and alike would be less harassed by the besserwisser. Don’t you think so Sir?

@PerKurowski

Record labels and Social Media, negotiate copyright issues among you, but please don’t endanger our heartfelt covers

Sir, Anna Nicolaou writes: “The big record labels are pressing the world’s largest social media network… to tackle copyright for cover songs and other content that fans post to their newsfeeds” “Record labels press Facebook to face the music over breaches of copyright” December 29.

That saddens me. On my 60th birthday, thinking about what I could give myself, I came up with the idea of recording and posting on YouTube one cover of a song I have liked in my life, for each day during the whole next year, and so I did, 365 songs! Phew, was I relieved it was not a leap year! Can you imagine how I would feel seeing all that effort and memories just vanishing? http://mynoisyvoice.blogspot.com

If my modest covers generate some ad-revenues, the record labels and the social media should come to an agreement on how to share these… but under no circumstances should it affect all of us who want to express admiration in this way for the songs in our life.

By the way I can’t imagine how any of my covers would impede a single sale of a record containing it; in fact, by reminding people of its existence, it could even generate some new sales. I was indeed moved when one of my covers received the following comment: “Thank you for interpreting so well the song of my grandfather…. I am proud that the memory of his work is not erased over time, and that by disseminating it, do not let it die, an affectionate greeting from….”

If there were one reason I could though understand for the owner of a copyright to take down my YouTube cover, it would be that the song’s original composer expressed horror over how I might be murdering it. Sir, I pray not too many will. 

PS. On my http://ayearofsongs.blogspot.com, with respect to copyrights I actually wrote:

“One is always worried about issues such as copyrights, as one does not want to end up in a slammer at any age, even if voicing some of these beautiful songs could perhaps be worth it.

What I will try to do is to check out on the web if someone else has been doing a cover of the song or any other one by I believe is of the same composer and, if so, I will presume it is ok for me to do it too.

Of course if someone protests loudly, not only for a copyright infringement but also because the composer feels I am destroying or in any other sense behaving disrespectfully towards his baby, I will ipso facto take it down and replace it with another song.”

@PerKurowski

To those who argued Geocentrism, Heliocentrism would have represented fake news.

Sir, Timothy Garton Ash writes: “The real challenge for the craft and business of journalism is to bring those facts to people who have fallen prey to emotionally appealing populist narratives — and may not even be interested in learning the boring truth.” “What to do when the truth is found to be lies” December 24.

Indeed, Garton Ash is right, but let us not forget that quite often there are also those very interested in that the truth is not learned.

For instance in apportioning the blame for the 2007-08 crisis, how much has been laid on bankers and how much on regulators, 95% - 5%? What would then happen to a post that argues, as I truthfully do, that regulators, by setting up irresistible temptations, were more to blame than bankers? Would it be banned as fake-news? Of course you could argue that is an opinion, not news, but the frontier between these is not that clear.

Sir, trying to sort between truth and falsehood, puts us on a slippery road, but must of course anyhow be tried. One possibility would be to ask social media to refrain from linking to any news not signed by a real person; or to any site that specializes in obvious scandalous news. But to ask much more from social media would be naïve, since these derive a lot of their income precisely from generating ad-clicks. I mean just as naïve as when bank regulators allowed banks to calculated their own risk-weighted capital requirements.

@PerKurowski

I’ll sue Facebook if it makes me sad

From Mr Per Kurowski.

Sir, I refer to John Gapper’s article “We are the product that Facebook has been testing” (July 2), about the research Facebook has been carrying out on whether our feelings can be influenced. I find that research to be absolutely great news!

Now Facebook, without us having to spend one penny on it, has with its own money conducted the research that proves conclusively that it needs to be controlled. And, to top it all off, it already confessed the motives and intentions of what it was up to. And what’s more, it did so, as Mr Gapper says, without really seeking anyone’s consent. Had it done so, its confessions would not have been half as useful.

But since that research might also open a window in how Facebook could branch out in the future by offering one Happy-Facebook, one Sad-Facebook and one Slightly-dull-neutral-Facebook, let me hereby formally notify Facebook that I want to be happy, and if it makes me sad I will sue it into oblivion!

By the way, at what point could Facebook be labelled a stalker?

Published in FT

http://perkurowski.blogspot.com/2012/06/we-might-need-global-web-constitution.html

In these globalized times, would you not want your flag to be a flag of convenience, flagged by many?

Sir, what extraordinary interesting questions and suggestion of answers those of Janan Ganesh in “Fly the flag for the liberal values that define Britain” June 17.

I have often proposed that in these days of social media with circles of friends and known and unknown acquaintances, we should always be able have a fast reference to where on earth we all find ourselves, what flags we feel we live under, and perhaps what flags we would like to live under… because, just as ships can carry a convenience flag, why should not a Venezuelan-Polish citizen, in Sweden educated and in Washington living individual like me not be able to carry a British flag if that was the flag I best liked.

And in this respect I do not think that asking what is the flag Britain should flag to rouse the nationalistic sentiments of the locals, is half as good as asking what flag should Britain flag to rouse the globals to want to align behind “the liberal values that define Britain”. In these days we must never forget that you do not need an Armada to conquer, nor do others need an Armada to conquer you.

Or, as Violet Crawley might have admonished, “Do not be so parochial. It is so middle class”.

And with respect to flagging and signalization let us never forget that the order is vital. For instance if you flag the ex-ante maximization of opportunities flag long before the ex-post redistribution of wealth flag, I am certain you will get much better results than flagging in the order that Thomas Piketty sort of seems to imply.