I am aware, as some people noticed, that I became irritated by some comments on the blog over the weekend. I let it show. To anyone I offended, I apologise.
Over the years, I have got used to receiving critical comments from those who I would expect to oppose my views. I have developed a thick skin, a direct style of response and a banned list to deal with those making such comments. That has been the only way to survive 17 years of writing a blog.
Over the same years, I have tried hard to provide a safe space for discussion. I tend to block even relatively mild criticism of one commentator by another for precisely the reason that I usually doubt such comments to be helpful.
That said, I am generally happy to be constructively criticised. Most of such comment helps. I develop my thinking based on comments, which is why I engage with them, unlike most bloggers, let alone journalists. I well remember being told years ago by Guardian journalists that there was only one way to survive writing on the web when comments were permitted, which is to never read any of those comments, let alone reply. I have ignored that advice and those journalists who know that wonder about two things. One is how my sanity survives the process, and the other is how I find the time.
The last is a particular point. I monitor comments on the blog pretty regularly, 15 hours a day, seven days a week, pretty much every day of the year. Mostly that's not a problem. When it feels like a hostile environment, it can feel like a burden. I am only human, after all.
But why did the irritation arise? I have needed to think about that and this is the best explanation I can offer. Whilst I don't believe all models of behaviour are helpful, I have sometimes felt the Myers-Briggs personality type indicators quite useful. I am an INTJ. Look it up for an explanation. What that, broadly speaking, suggests is that I think in an introverted way to explore how big systems work, which is my particular interest in almost everything I do.
That does not mean that I am insensitive. Nor does it mean I cannot empathise. But it does mean that I look at macro-level activity almost instinctively, which is quite rare in society. And when doing so, I seek ways to make systems work better.
I stress the word ‘better'. Nothing is perfect. It is pointless to pretend such solutions exist. So, what I also try to do when imagining big systems is to think about how they can achieve results with minimum fallout. My thinking on tax haven transparency, now at least partly reflected in international tax systems, does reflect this approach. But still, not everyone will be happy with it.
When it comes to cash, my starting point is the recognition that whether we like it or not, it's going to disappear. That is not just because banks made that possible. It is because that is what traders and most people who are spending want. I asked cafe owners this weekend what proportion of their takings were in cash. The feedback was less than 25%, and declining. And this is in a rural area. In Sweden, it would be 100% card. It is the only country I have ever been to for a while where I have never needed to use the currency. In the US the proportion would be much more in favour of cash. It is social norms driving these changes. They will happen. I am not proposing them: I am considering what they mean and seeking to contextualise them. That is how I work.
In that case, to be blamed for things I am not doing just makes blogging seem that much harder. And some of the comments have been a bit direct. They also fail to appreciate that I do, when I observing such issues, always have a bias to try to make things work for those least able to adapt, whilst recognising that law to prevent abuse is required - as anyone who wants a functioning government must recognise.
So, might I ask for a little understanding of where I am coming from, some acceptance that I do try to listen and am not a monster, plus a degree of tolerance for the fact that I do my best here, whilst being human - and when the feedback lacks what feels like empathy to me then it is harder to raise the enthusiasm to do it?
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Understood Richard
I was only thinking this morning that maybe you should let us see a days worth of the flak and unhelpful comment that you get. I suspect enough to make any of us short tempered.
That’s not something I wish to share!
The difficulty with your post on cash is that you were not clear as to what policy you were prescribing. As written you noted that cash was waning and you were happy with policy proposals from government to use imposition to hasten its end.
In the comments you implied that more government intervention was not needed, as it was on its way out anyway.
And it’s still not clear.
And sometimes it takes time for calrity to emerge
Blogs are streams of conciousness
And you Richard to my mind have always been ‘upstream’ for sure.
Frankly I really don’t understand where you get the energy and mental resilience to do all that you do on this blog. Wherever it comes from there are very many of us who are very grateful that you do.
Also, in the nicest possible way, everyone is entitled to be a grumpy old git sometimes, especially on a weekend which many people viewed with huge trepidation.
Take care.
Thank you
Hear, hear.
I couldn’t agree with Cyndy more so nothing further to add.
Thanks
I just recorded a US podcast where the hoist asked me whiny do I keep going whe n it seemed I was an age where I could retire
I suggested I had not solved the problem as yet
Trying to do so sometimes makes me grumpy
Richard,
this is one of the best blogs out there. Nothing more to add really.
Thank you
Gerd
Thank you
A quick glance at certain newspapers shows us that constructive criticisms, objectivity and balance, are either beyond some people, or that they are happy to trade in their grandmothers and flush it all down the toilet in exchange for making money.
The blog is a daily de rigueur for me .
As with others – I dont know how you manage to produce so much every day and so much original thinking.
You are allowed the occasional moan. You sometimes do seem sensitive to criticism but arent we all?
Thank you for all you do.
I’m human….I accept that I sometimes fail
Richard, your blog is about the only thing that keeps me sane!
That’s a heavy burden to carry 🙂
Well, I for one really appreciate the thought and obvious detailed analysis you put into your blog. I have learnt an enormous amount about economics that I did not know, always wanted to know about and found most texts inaccessible in their language and availability. Almost like ivory towers for only certain initiates. Thank you profusely for making the whole subject accessible and comprehensible. Good one.
Thank you
Richard,
Keep doing exactly what you are doing the exact way you are doing it.
With regards to “cash” most merchants, other than grocery stores and big box retailers, want cash if the transaction is under $50.00. The US merchants do NOT want to pay the credit card and financial transaction fees.
In Florida, I “most merchants” include (but not limited to), the tailor, hairdresser, nail salon, privately owned local pubs & restaurants, pizza parlors for carry out (UK takeaway) & dine in, frame shops, lawn care services (cash or check)…etc…etc.
I was recently in a middle-high private ladies boutique that I shop regularly and made a relatively large purchase. When I pulled out my credit card, the sales associate ask me if I mind writing a check as the boutique did not want to pay the “fees”. I commented to her I did not know the boutique accepted checks. She responded that checks are preferred with customers they know to save on overhead transaction cost.
I do not see cash going away in the USA if for no other reason due to our “tipping culture”. If you leave a tip on a credit card, many restaurants & pubs deduct the “fees” from the tip amount before the tip is given to the server. Even if I pay with a “card”, I always try to leave the tip in cash.
Charges for retailers have fallen signiifcantly here
We’re all human, have good days and bad days. You are one of the rare breed that acknowledges mistakes.
I would imagine a good number of those people being ‘annoying’ are trying to get you angry as it gives them some attention. Being able to hide behind a pseudonym helps them.
You have the support of the majority of people here. When your bad days come, we’re still here.
Jolly well said Martin.. here here!!
Thank you very much for what you do
I’m pleased to say I’ve spent the last 9 days in Boston, Providence, Toronto and Montreal, and haven’t needed cash once. Subways, taxis, bars, housekeeping tips…. All card-based. However, I know that the supply of physical banknotes in the developing world is growing, and expected to grow for years to come. In fact it is something the US Federal Reserve seems to have no wish to restrict (hundreds of millions of USD banknotes are shipped out weekly). Hmm, I wonder why that is? I can think of two less than savoury explanations. Corruption keeps the right kind of people in power, and the supply of greenbacks helps ensure the USD remains the global reserve currency. But I’m frequently accused of being a cynic.
More dollars circulate outside the US than in it
It is a buckshee export
This reminds me of the cartel stash house in Mexico in “Better Call Saul” and the evil twins collecting 7 million dollars in cash to take back over the border to New Mexico to pay Lalo’s bail. Obviously copious supplies of cash enable some of the worst crimes in the world, as well as little fiddles like the window cleaner collecting his 20 quid payments.
Richard, there is much I disagree with in your posts. I usually desist from following or reading comments from those who I think are negative or imho wrong. Your work does not fall into that category. I have learned a lot and continue to do so by reading your work and some of the responses. Of all the output I read and interact with you seem to me to represent humanity and all its merits and frailties. You have in my book a credit balance on the merit side and I regret that you attract opprobrium which is not warranted. Please maintain your peace of mind and your work for, as you say, your work is not yet done.
Thank you
I had a big job, I was successful, I was told I was very good, and my private most important ambition was to treat everyone equally and with respect.
One morning I woke up and decided to retire, just like that.
Ten years on there’s three things I want to share with you:
Whatever anyone says no one is indispensable
It takes a year to free yourself
You look back and wonder where the time has gone.
Richard, you are clearly a very resourceful and intelligent person. I read your blog as a cry for help. There’s so much out there for you to discover, so many new experiences, and time with your love ones is for the here and now.
My family get my time
Lots of it
And to suggest that my blog is a cry for help is patromis9ing bullshit, unless it’s a cry for help for the world
Richard, I’m so sorry that you get so much flack. I guess it’s a factor in doing anything online these days. I recently joined a houseplant hobbyist group on Facebook, and after a few months I quit the group. I mean …if people can’t discuss HOUSE PLANTS without getting nasty to one another, what hope have we got? I guess what I’m saying is it’s not you …it’s the way ‘we’ are these days. Say anything online, and somebody will rear up to argue, or just trash you personally, and whatever you say.
You’re advocating ideas some people aren’t ready to take on board yet, and also you are ahead of the reality game in so many respects. You are also very well-informed, and you cite your sources. You are also willing to admit when you need to re-think something. And you are honest about how your life outside the blog affects you. And you are VERY much respected.
I read your blog every day, and usually the very informative comment section as well. Some things that get discussed make me uneasy at times, but that’s often due to me not being well-informed. I am a total dunce when it comes to accounting, high finance, etc. Willing to be led, to a certain extent, by people who do know what they are doing. And you are one of these people.
Please don’t feel discouraged. You are making a difference. The bad guys seem to be winning all over the world at the moment, but the wheel keeps turning. It turns faster when people like yourself keep pushing it.
Thanks
Richard, thank you for all the work you do. Your commitment to creating a more just and sustainable world is truly inspiring. Through your advocacy and educational initiatives, you have not only increased my, understanding of the complexities of economic systems but have also ignited a passion for positive change within the hearts of many.
Again, thank you.
Neil M
Thanks