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People care about their "football team" [party] and their small economic and social bubble. They are not good in general to see how things affect them. Fun fac
by eftychis 9y ago
People care about their "football team" [party] and their small economic and social bubble. They are not good in general to see how things affect them.
Fun fact: most fiscal policies have as a goal to get people to invest their money and get growth back in. Their effect is psychological. If the effects sound like they will have a positive effect in my little bubble I will start spending and investing, as I feel the Big Brother is ensuring a positive future for me. In fact, I as an individual impact the economy and not the Big Brother directly, as i) I spread the positive feeling and ii) invest. Hence, the consensus of the market is positive. See Keyene's "The General Theory of Employment, Interest and Money" (http://cas2.umkc.edu/economics/people/facultypages/kregel/courses/econ645/winter2011/generaltheory.pdf http://cas2.umkc.edu/economics/people/facultypages/kregel/co...) (https://en.wikipedia.org/wiki/The_General_Theory_of_Employment%2C_Interest_and_Money https://en.wikipedia.org/wiki/The_General_Theory_of_Employme...) chapter 12. The average per person confidence for the short term affects the long term progress. People usually find no precedence to connect their privacy to the economic or political success. Now events start rolling stating otherwise. This article for instance states claims that their lack of privacy might have impacted the election, a matter most people feel affects their bubble. And rightly so. Thus why the mild reactions.
Example 2:
People in security world/academia have been paranoid about what NSA was doing. The average Joe did not care about their data till the E. Snowden fiasco. The "mob reaction" told them to care. Then it subsided a bit again. Fortunately, it left the average person maybe a bit more aware on average. The impact was more money flowing towards security research and the rest of the world took note.
As a last (desperate) solution, I hope events like this hit the public where it hurts. Equifax was not enough, but it was a wake up call for some. This Facebook scandal probably will not do the job for the average Jane/Joe, but maybe the next one will. At that point people will either have to take a step or we will wake up in an Orwellian world.
We may need an event so drastic that relates people's privacy with their bubble and fast. Remember the "sudden" economic/social disasters of today are usually decades in the making (1920s, 2007, Russian revolution, most likely "x (social) revolution", where x is your country).