Bookmarker is a personal project by @dellsystem to help with retaining reading material. Source on GitHub.

View all notes
Available query params: commented=1, untagged=1

Showing results by Keith Gessen only

[...] the way they think doesn’t admit of a world where Citibank gets nationalized. It’s just so inconceivable to them that they say, “You just can’t do that! It’ll cause all of these horrible problems.” Well, that was true when the economy was in an extremely unstable state and risk aversion was extreme and panic was abroad in the land. But now I don’t think that’s the case, and your lack of imagination is not a good grounds for a policy judgment.

i love this. (on the govt's lacklustre response after the crisis)

—p.142 Populist Rage (125) by Keith Gessen 7 years, 8 months ago

[...] to deal with the fact that we have an eccentric corporate taxation system, we’ve allowed these loopholes to be created so that U.S. companies are not uncompetitive relative to companies from other countries. So he wants to get rid of these loopholes—that’s fine if we’re also going to redo the corporate taxation system so that it’s simpler and more efficient and more in line with what’s going on in the rest of the world. But I haven’t seen any evidence that that’s going to happen. So if you suddenly make it a lot less attractive to be headquartered in the U.S., or, if you’re a start-up company, to be domiciled in the U.S., then that’s problematic.

why he's against Obama's fiscal stimulus program

this makes me really angry, and im trying to unpack his assumptions in order to understand why it bugs me so much. but there's this (fairly common) implication that because Obama is American, he should be optimising for policies that encourage corporations to be domiciled in the US. for what? as a means to increase the US' power in the global economy?

but the US is already the most powerful. it's already at the top of the hierarchy. what the hell else does it want? acting mindlessly acc to incentives around amassing power is at least somewhat excusable when you're the underdog, but when you get to the top, surely isn't that the point when you think about where you are now, and what you should be doing with that power? and whether acting as if you're still the underdog is actually globally destructive?

—p.175 Life After the Crisis (155) by Keith Gessen 7 years, 8 months ago

That the level of profits for the financial sector was too high. If you look sectorially, the financial sector was generating an unusually large share of corporate profits and of GDP. And a lot of that was not sustainable. It was a frenzy of trading that didn’t lead to an ultimately productive result. So those are paper profits. And what happened is it turns out that those loans that were extended went bad, or bets went bad, and the huge losses that were recognized were the reversal of those financial sector profits, right? So again, then are you supposed to believe that once that’s out the financial sector profits go back to that unsustainably high level? No, they don’t.

Another way of saying that is that a lot of that GDP is an illusion.

finally we agree on something

—p.184 Vacation Plans (181) by Keith Gessen 7 years, 8 months ago

[...] You see people who’ve blown up in spectacular fashion go on to get another high-profile job. And the things you hear are, “I want to hire him; he’s learned a very expensive lesson.” Or “He’s proved he’s a risk-taker.” I can’t tell you how many times I’ve heard that! Yeah, he’s proved he’s an irrational, crazy risk-taker!

this is like identical for tech people who've "landed the ship". think danielle morill ... makes me want to barf every time i think about it

—p.195 Vacation Plans (181) by Keith Gessen 7 years, 8 months ago

[...] when you think of the long-standing idea of art in opposition to the dominant culture, if only by keeping its autonomy from the pursuit of money—the only common value great writers from right to left have acknowledged—you begin to sense what we have lost. Capitalism as a system for the equitable distribution of goods is troublesome enough; as a way of measuring success it is useless. When you begin to think the advances of doled out to writers by major corporations possess anything but an accidental correlation to artistic worth, you are finished. Everything becomes publicity. How many writers now refuse to be photographed? How many refuse to sit for idiotic “lifestyle” pieces? Or to write supplemental reading group “guides” for their paperbacks? Everyone along the chain of production compromises a tiny bit and suddenly Jay McInerney is a guest judge on Iron Chef.

—p.315 Money (307) by Keith Gessen 6 years ago

We moved to my next profound question: What do you know that no one else knows? My premise was that good writing depends on a kind of specialized knowledge—whether of some process, or some relationship, or some situation or event. If people would just tell us what actually happened! We would know so much; we would learn so much. Of Kafka’s commitment to telling the whole truth about himself and his life, Elias Canetti wrote: “A human being who offers himself to knowledge so completely is, under any circumstances, an incomparable stroke of luck.” We do not have to be Kafka—but we can at least tell one truth, or two, about our lives. As the editor of a literary magazine, I had read so many “stories”—fiction or nonfiction, it didn’t matter. They were made-up, and the more made-up they were, the more conventional. Where truth was left out or kept general, cliché filled the void. The mistake made over and over was to search for the “universal,” when (this is itself a cliché, maybe, but still) it was the specific stuff that readers wanted to know. But of course it’s not so easy to figure out what the specific stuff is. One’s life contains so many things; how are you to know which of these things is distinctive?

—p.193 Money (2014) (187) by Keith Gessen 4 years, 8 months ago

WHY WERE PEOPLE HELPING US? It couldn’t only have been because we were lying to them. In truth, they must have been doing it for the same reason we were doing it — because they wanted to. They were lonely people who wanted to get out of their apartments; they were skilled people whose skills were being channeled into corporate or otherwise uninteresting work. We were all in our mid- to late twenties — we had seen a bit of the world and knew we didn’t like it. We had seen others make things and knew we could make them just as well if not better. We had seen some of the people we most admired come out in favor of the invasion of Iraq, or get hoodwinked by various transparently phony cultural projects, or start writing down to some imagined audience, rather than up to the audience that actually existed (or so we believed). We did not have a clear political project (we were “leftists,” but there were many things we didn’t agree on), but we did have a clear cultural project, to try to connect our politics with our literary tastes. It’s not clear, though, that the specifics of this project were what interested other people, or us. Often it felt like simply the idea of a project — any project — was enough. It was fun and interesting and sometimes incredibly frustrating to work with these particular people. And it was interesting to try to build an independent cultural institution where one had not been before.

—p.55 Brief History of a Small Office (54) by Keith Gessen 4 years, 8 months ago

And I had grand notions, too. I had quit hockey because I was too slow, but also so that I could read Kierkegaard. My history teacher’s list was nice, but here was Fear and Trembling. Here The Sickness Unto Death. I considered dipping into Weber. Occasionally the word Foucault would float from my tongue, a trial balloon. In such moods I denounced Ferdinand, he was not Harvard!, but at the end of the year I stayed with him. We were hanging out with lacrosse players and their girlfriends, I was badly drunk three nights a week, and some of my morning classes went by unattended, went by anyway, while I lay in bed moaning. And yet my political-science professor had still sent one of my papers to a peer-reviewed journal and laughed with gusto when I showed him my several fake IDs—on one of them my name was Jürgen Habermas. (In the little basement shop in downtown Boston, I had indignantly demanded the umlaut. “Yeurgen Habermas, not Yoorgen. Yeurgen!”) There seemed, in short, to be no system I couldn’t beat, whether I stayed with Ferdinand or not. In the weeks before rooming groups were due, I made a few half-hearted sorties in the Freshman Union to some of the more articulate kids I’d met in my classes, but they were as wary as they were intelligent, their groups had congealed and they liked it that way, and anyhow I hadn’t yet learned how to talk with them, and instead of Foucault the word douchebag kept escaping, like a dark secret, from my lips.

fun

—p.128 The Vice President's Daughter (122) by Keith Gessen 3 months ago

She began to come by in the evenings, and often she was drunk. Are the rich very different from you and me? Judge for yourself. She was drunk and it was my role to sit in the room I shared with Ferdinand and try to work on my sophomore paper. “It’s important that you do this,” Ferdinand told me the second time she was over and they sat in the common room, watching our old Simpsons tape. “You need to be, like, The Scholar. It creates an atmosphere.”

lmao

—p.130 The Vice President's Daughter (122) by Keith Gessen 3 months ago

I looked at her—closely, closely. She resembled royalty, I tell you, she was practically the leader of the free world. Yet she lacked speech. I—on the other hand—standing in that little room, my fingertips still warm from the keyboard—I did not lack it! “But that’s just it!” I began. “I mean, we’re in college. It’s time to get serious! It’s time to get to the bottom of things. The meaning of them. I mean—”

And as I began to expound on this, I thought I saw her looking at me in a way I hadn’t seen a woman look at me in a long time. Probably she wasn’t, or she was just startled by all the words, but I was already examining the ethical implications. And I took a deep breath, a pause, because first I needed to tell her what I thought of things, and I needed to blow her mind. It wasn’t Ferdinand himself that I wanted to dissuade her from, exactly, and not in favor of me, per se, but the idea of Ferdinand, and the idea of me—it was important that I arranged these properly in her mind. Because fun—I turned the word over in my mind. Did she mean sex? Boats? Ice cream? There was right action and wrong action. There was Kierkegaard. There was fun, and then there were those ten minutes before the Grille closed, the music turned off, the lights coming up to reveal the beer spilled on the floor, the plastic cups lying there, and people’s coats had fallen off the little coat ledge in the corner, and you’d be going home alone. And how was I going to explain all this to anyone? To Lauren, for example, poor privileged Lauren for whom no amount of grooming and training would turn her into the person she actually wanted to be? To Lauren, who’d passed out on my bed?

—p.132 The Vice President's Daughter (122) by Keith Gessen 3 months ago