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The Debate About the Best Path to Armageddon

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The American expression, “time is money,” sits at the core of United States culture. It doesn’t just mean that you can put a price on time “spent” or that you shouldn’t waste time. The copulative use of the verb “to be” in the proverb asserts a semantic equivalence between the two ideas of money and time.

Time is money, but equally money is time. Don’t believe me? Just ask Warren Buffett, a man who marvels at the miraculous nature of compound interest, representing the perfect unification of money and time. Albert Einstein called compound interest “the eighth wonder of the world” even while expressing doubts about the reality of quantum mechanics.

Because time has such a special place in US culture, it’s instructive to see how it may influence discussions both trivial and grave. Take the topic of nuclear weapons, for example. Most other cultures see the very idea of possessing a nuclear arsenal as an existential problem. Most nations question whether nuclear weapons should even be allowed to exist. Americans, in contrast — especially those who have the power to make policy — focus on the real question: how those weapons need to be managed over time.

In an article for the publication Bulletin of the Atomic Scientists, Jack O’Doherty, presents in some depth the current debate among Washington’s military strategists concerning nuclear policy. As you read the article, bear in mind that the nation’s citizens have not been consulted on the options outlined, nor are they likely even to be aware of them. No politicians covered by the popular media have even alluded to this question. The outcome of the debate will nevertheless affect the life of every person on Earth.

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Here are two significant quotes from the article:

“The United States has begun a long overdue modernization of its nuclear arsenal, and it’s essential to understand the purpose of these acquisitions.”

 “It’s time for the American nuclear policy community to have a long-overdue conversation about what, prescriptively, US nuclear weapons are for. Deterrence, yes, but in what form?”

Today’s Weekly Devil’s Dictionary definition:

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Long-overdue:

So urgent that a decision must be made without the time-consuming effort of analyzing all the possible and probable consequences, even if they point towards global catastrophe.

Contextual note

Most of us learned the meaning of the adjective overdue in the context of checking out books from the library, when we were learning to read. Our parents taught us to be careful about respecting dates, to avoid the dreadful consequence of a monetary fine. Later in life, many people discovered that the word could carry a slightly more serious level of urgency, when it came to paying rent to a landlord or alimony to a divorced spouse. Too much “overdueing it” could land you in court.

Using the epithet, as O’Doherty does, when discussing nuclear arsenals clearly takes us to another level. One might think that when discussing any nation’s nuclear strategy, we would be invited to entertain a full spectrum of choices, starting with total disarmament and extending across the spectrum to the idea of covering entire regions with a strike capacity designed as a nuclear noose.

O’Doherty’s article informs us that, at least in the US context, the spectrum has now been conveniently reduced to a binary choice. He presents them as practically the equivalent of a Dodge City-style “nuclear showdown.” Here is how he describes the “two schools of thought.”

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“The development of nuclear weapons started an inflexible and entangled debate between what—to borrow almost anachronistic language—may be described as the “nuclear revolution” and the “nuclear superiority” schools of thought. The former insists that mutual vulnerability (from which deterrence stability is derived) has revolutionized international competition by making wars between great powers essentially impossible. The latter, meanwhile, contends that the Pentagon should embrace nuclear warfighting postures revolving around a counterforce targeting doctrine—that is, shooting first in a preemptive strike to eliminate an opponent’s nuclear weapons before they can be launched (this is defined by its proponents as the only conceivable way to win a nuclear war).”

The second “school of thought” seems to reflect the philosophy infamously deployed by George W. Bush to justify launching his invasion of Iraq in 2003. Because we didn’t know what Saddam Hussein might do with his (non-existent) weapons of mass destruction, we sure as hell had to make sure that he would never get the chance.

In that scenario, we invaded and declared “mission accomplished.” In this scenario, however, it isn’t about invading. It’s about launching a nuclear attack once we are convinced sufficient suspicions exist to make it necessary. Suspicions of the sort expressed by CIA Director George Tenet in 2002 to President Bush: “It’s a slam dunk.” Could that kind of pre-emptive reasoning and the act that followed take place again? If O’Dohery’s second “school of thought” were to win out, the answer will be presumably, yes.

Historical note

In retrospect, everyone notes that the fall of the Soviet Union marked a major turning point in history. It ushered in the unipolar world, an order that lasted for most of the next three decades, in which the US dominated the planet’s economic activity and its most significant political events. International Relations guru John Mearsheimer cites 2017 as the moment when that suddenly appearing unipolar world gave way to a new multipolar world that is still taking and changing shape as we write.

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The significance of a unipolar world can be summarized in the oft-repeated idea of a “rules-based order,” understood as a set of behavioral standards defined and enforced by a unique superpower: the US. The existence of a unipolar hegemon “simplified” some of the reasoning about issues arising between nations. Everyone in the “free world” was now “free” to align with the policies of Washington, knowing that it would put them “on the right side of (unipolar) history.”

Some people developed the habit of calling this a “normative order.” The idea of normative appears to embrace several things:

  • standards of behavior widely accepted and expected in the international community,
  • moral guidelines that shape decisions and actions, such as the just war theory,
  • international laws and treaties that formalize these norms and principles, such as the Geneva Conventions or the United Nations Charter
  • and finally, cultural values.

That dog’s dinner leaves a lot to choose from, to say nothing about the fact that experts in cultural communication will tell you that identifying any set of behaviors as “normative” could only be a fool’s errand.

Even while the idea of “normative” carries a lot of positive connotations, one of the consequences many people have noticed — and which I recently discussed with former Swiss ambassador Jean-Daniel Ruch — has been the marginalization, or frankly discrediting, of the basic tool of diplomacy: dialogue. When one has a “normative order” to refer to, it makes it easy to cut short any dialogue by referring to the rules of that order. This trend has had the effect of producing a world of “forever wars” and never-to-be-realized “ceasefires.” I put this last term in quotes to highlight the degree of meaninglessness it has effectively achieved. They say time is the great healer. Dialogue is an even better one… and it saves time!

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To sum up, the history of the past 35 years offered us the hope of living under a normative order that has never managed to exist. It has also supplied the explanation of why it could never exist. The answer is simple: the enforced absence of dialogue and the death of diplomacy.

In this year of multiple elections, with the most monumental one expected in November, is there any real chance of seeing a new world order built not of normativity, but of dialogue? Some of us still cling to that hope. On that note, I leave you with one remark in O’Doherty’s article concerning the “dialogue” between the two “schools of thought:”

“These competing perspectives share the halls of power but rarely talk to each other. Each accuses the other of entertaining imaginary empirical pretensions, of a lazy misreading of history, and of celebrating theories compromised by their own basic premise.”

*[In the age of Oscar Wilde and Mark Twain, another American wit, the journalist Ambrose Bierce produced a series of satirical definitions of commonly used terms, throwing light on their hidden meanings in real discourse. Bierce eventually collected and published them as a book, The Devil’s Dictionary, in 1911. We have shamelessly appropriated his title in the interest of continuing his wholesome pedagogical effort to enlighten generations of readers of the news. Read more of Fair Observer Devil’s Dictionary.]

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[Lee Thompson-Kolar edited this piece.]

The views expressed in this article are the author’s own and do not necessarily reflect Fair Observer’s editorial policy.

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NY Magazine Reporter on Leave After RFK Jr. Relationship

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NY Magazine Reporter on Leave After RFK Jr. Relationship

New York magazine says that its highly regarded Washington correspondent, Olivia Nuzzi, is on leave after disclosing that she had a personal relationship with a former reporting subject, violating the publication’s standards.

The newsletter Status, which broke the story, and The New York Times both cite unnamed sources in identifying Robert F. Kennedy Jr. as the other person involved with Nuzzi. New York magazine and Nuzzi have not confirmed Kennedy’s involvement, and Kennedy said in a statement that he had only met her once.

It’s an explosive development for the magazine and Nuzzi, whose piece featuring an interview with Donald Trump, “Peering into Donald Trump’s Ear, and Soul,” was featured on its most recent cover.

In a note to readers published late Thursday, New York said that if it had been aware of the relationship, Nuzzi would not have been permitted to cover the presidential campaign.

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New York said an internal review of her work has found no inaccuracies or evidence of bias, but that Nuzzi is on leave while a more thorough third-party review is undertaken.

“We regret this violation of our readers’ trust,” the magazine said, and a spokeswoman had no further comment. A spokesperson for Kennedy, who is married to the actress Cheryl Hines, did not immediately return a message from The Associated Press.

Nuzzi said in a statement to Status that in early 2024, the nature of some communication between herself and a former reporting subject turned personal.

“During that time, I did not directly report on the subject nor use them as a source,” she said. “The relationship was never physical but should have been disclosed to prevent the appearance of a conflict. I deeply regret not doing so immediately and apologize to those I’ve disappointed, especially my colleagues at New York.”

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It was not immediately clear how and when Nuzzi’s bosses at the magazine became aware of the relationship.

Nuzzi wrote a story about Kennedy’s campaign that was published last November, “The Mind-Bending Politics of RFK Jr.’s Spoiler Campaign,” where she described a harrowing car ride and brief hike with Kennedy and his dogs while interviewing him.

His name came up in a March 2024 piece in The New York Times where Nuzzi, Frank Bruni and Joe Klein discussed the state of the campaign at the time. “We’re forgetting or purposefully ignoring something rather important about this election: It’s not a two-man race. It’s a three-man race,” Nuzzi said, noting that at the time Kennedy was “polling competitively.”

Status quoted a representative for Kennedy saying, “Mr. Kennedy only met Olivia Nuzzi once in her life for an interview she requested, which yielded a hit piece.”

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Resources and teaching ideas for US high school economic classes 

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This article is part of the Financial Times free schools access programme. Details/registration here.

Recommended FT articles and tasks have been picked by MRU’s Econ in the News to help in US high school economics, with suggestions on questions for student assignments, class activities and discussion.

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Micro

Basic Economic Concepts

Economists are overly reliant on rules

The bitter lessons of Brexit

Are economists selfish? Not according to Monopoly

Behavioural economics
Luxury car sales plunge as buyers put off by South Korea’s neon green licence plates

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Institutions, marginal thinking
Outlook. Baseball tries to beat the clock to appeal to younger fans

Incentives
Internet ratings get only three stars from me

Supply and Demand

Soaring olive oil prices hurt sales of ‘liquid gold’ in Mediterranean heartland

Coffee prices set to rise even higher, warns Italian roaster Lavazza

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Orange juice crisis prompts search for alternative fruits

Wall Street turns to ‘solar grazing’ sheep in its push to go green

Legoland and Madame Tussauds owner to roll out surge pricing

Demand shifts, inflation
Introducing the ‘TSwift Lift’

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Supply shifts
Russia bombs Ukraine grain silos in ‘barbarian’ attack on food supplies

Price controls
Europe’s airlines clash with Italian premier over planned fare cap

Price controls: elasticity
Pepsi revenue declines after US consumers flinch at higher prices

Taxes and Subsidies

Externalities
Why are caps now attached to bottles? Blame the EU

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Denmark to charge farmers €100 a cow in first carbon tax on agriculture

The hidden cost of your supermarket salmon

‘Easier than pensions’: why electric cars are the hot company perk

Ursula von der Leyen calls on EU to subsidise defence production

Video: Could a tax curb meat’s health and environmental problems?

It is time to fix Britain’s broken tax system

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Trade and Specialization

How national security has transformed economic policy

EU to hit Chinese electric cars with tariffs of up to 48%

International trade
US sharply raises tariffs on Chinese EVs and semiconductor imports

Are there any steaks left to be discovered?

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What the birth of the spreadsheet can teach us about generative AI

Martin Wolf: the world economy’s story remains one of integration

The bitter lessons of Brexit

Comparative advantage, specialization
Adam Posen: ‘Russia and North Korea worked hard to be self-sufficient, it has not turned out well for them’

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Costs of Production and Competition

Primacy in pickleball could push Asics over the ‘funish’ line

How hardware is (still) eating the world

Monopolistic competition
Why United Airlines’ huge bet on Newark airport is not paying off 

Amazon & the FTC

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Externalities 

The environmental cost of AI

It’s up to governments to declutter space

UK set to push back new recycling scheme amid industry concerns

Macro

Economic Indicators

US economy is heading for soft landing, FT survey says

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What burger flipping tells you about the US economy

Chocolate lovers given taste of inflation as Freddo frog prices jump

Markets slash bets on rate cuts after US inflation rises to 3.5%

European Central Bank holds interest rates at 4% in contested decision

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US inflation eases to 2.4%, according to Federal Reserve’s target index

UK economy slipped into recession in 2023

Companies’ reluctance to roll back price rises poses US inflation risk

Is deflation really China’s next big export?

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China’s deflation worsens as economic pressures mount

Should we believe Americans when they say the economy is bad?

Inflation

Global inflation tracker: see how your country compares on rising prices

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UK inflation highest for mortgaged households

US inflation higher than expected in September

How the UK’s radical data revisions shattered its economic narrative

Just blaming wage growth for inflation is misleading and dangerous 

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Beyoncé, statistical nightmare

Argentina risks hyperinflation after election giveaways and dollar pledge

Money and Banking

The meaning of the market sell-off

Did summer holidays make the market turmoil worse?

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Monetary policy, inflation
US Fed will cut interest rates just once this year, say economists

Zimbabwe launches ‘gold-backed’ currency to replace collapsing dollar

Milei clashes with Argentine province over plans to issue its own currency

Companies rush to take advantage of sharp drop in borrowing costs

Payment systems
Federal Reserve launches real-time payments system in first big upgrade since 1970s

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Government debt
US Treasury’s $1tn borrowing drive set to put banks under strain

Saving
Cash is no longer king in Japan as use of coins drops sharply

Fiscal Policy

Ireland’s luxury problem: what to do with its €8.6bn surplus

US faces Liz Truss-style market shock as debt soars, warns watchdog

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Argentina’s Javier Milei says he doesn’t need congress to save the economy

How Germany’s ‘debt brake’ broke the budget

Housing policy
Economist Kate Barker: ‘To tackle inflation we should put taxes up for the better-off’

Monetary Policy

ECB to rely more on bank lending as it shrinks balance sheet

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Switzerland makes surprise cut to interest rates

The risk of premature central bank celebrations on inflation

Is the last mile really the hardest?

Economists see Fed keeping rates at 22-year high until at least July

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Yes, the US economy looks resilient now — but that may not last

When presidents lean on Fed chairs, everybody loses

Christine Lagarde: ‘I should have been bolder’

Can corporate America cope with its vast debt pile?

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US Federal Reserve holds interest rates at 22-year high

Bets against shekel heap pressure on Israeli central bank

Adapting to a higher-for-longer world

Higher rates for longer are a good thing

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ECB raises interest rates to all-time high

Central Banks debate: an ‘high for longer’ substitute for rate rises?

Economic fluctuations, monetary policy, inflation

Interview. John Williams: ‘I don’t have a recession in my forecast. I have pretty slow growth’

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Economic Growth

Can Europe’s economy ever hope to rival the US again?

The weakest links in the global economy are on the mend

Declining fertility rates will transform global economy, report says

Long run growth

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China’s leaders sweat over ‘difficult to heat’ economy

(Mis)remembering Chile’s military coup

It may not feel like it, but the planet has many reasons to be cheerful

How is the US economy managing to power ahead of Europe?

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Nigeria’s economic reforms need to regain momentum

Obesity drugmaker’s expansion raises dominance worries for Denmark

Personal finance

How can we defuse the household debt time bomb?

Late payments rise on US loans tied to inflated pandemic credit scores

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Consumers cut back on credit cards as repayment charges hit record high

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California fire agency worker faces arson charges

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California fire agency worker faces arson charges

An employee of California’s state fire protection agency has been arrested on suspicion of starting five forest fires in recent weeks, local officials have said.

Robert Hernandez, a 38-year-old apparatus engineer at Cal Fire, was charged with five counts of arson, and is due to appear in court on Tuesday.

He is suspected of igniting the blazes while off duty in three areas of northern California between 15 August and 14 September.

Thanks to the quick response by firefighters and local residents less than an acre (0.4 ha) of wildland was burned, the officials said.

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“I am appalled to learn one of our employees would violate the public’s trust and attempt to tarnish the tireless work of the 12,000 women and men of Cal Fire,” agency chief Joe Tyler said.

Hernandez was arrested on Friday, and booked into Sonoma County Jail on Friday.

He is suspected of starting the five fires near the towns of Geyserville, Healdsburg and Windsor, some 56-62 miles (90-100km) north of San Francisco.

Apparatus engineers at Cal Fire are responsible for operating and maintaining fire engines and water tanks during emergency responses.

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California has seen a number of severe wildfires during the summer, with nearly three times as much acreage burn as during all of 2023, the AP news agency reported.

On Tuesday a 34-year-old delivery driver pleaded not guilty to 11 arson-related crimes by prosecutors in southern California.

Justin Wayne Halstenberg is alleged to have started one major wildfire – dubbed the Line Fire – which burned through 61 square miles (158 square kilometers) of the San Bernardino mountains east of Los Angeles.

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How culture of fear at Harrods protected a predator

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How culture of fear at Harrods protected a predator
BBC One of Mohamed Al Fayed's victims says his security chief threatened her when he told her he knew here her parents livedBBC

One of Fayed’s victims says she was threatened by his security chief when he told her he knew where her parents lived

“I am walking around feeling terrified of somebody who is dead,” explains Gemma, who has been reliving the moment when she says Mohamed Al Fayed raped her.

“He just had that power – I am petrified of someone who is no longer alive”.

She is among more than 20 women who told us the former Harrods owner sexually assaulted or raped them while they worked at the luxury London department store.

Many of them describe being imprisoned by a similar sense of fear; it is what kept them from coming forward for so many years.

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Some were worried our documentary team might have been secretly working for the businessman’s associates when we first contacted them after his death last August.

Even after we provided assurances, they were concerned about how those close to him might react. There were lots of conversations about what might happen if our meetings were discovered.

We could sense their paranoia about the consequences of speaking out and the fear engendered in them by Fayed and the people who worked for him. In these circumstances, the bravery of these women is to be applauded even more.

Fayed was a man who used money and power throughout his life to bully and intimidate his way into getting what he wanted.

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In the early 1990s, a government investigation concluded he had lied when he bought Harrods. He deployed dirty tricks against Tiny Rowland, his rival in buying the business, and was even accused of stealing items from his safety deposit box at the store.

A few years later, he caused the downfall of Tory politicians when he went public about bribing them to ask questions for him in parliament. He was not a man to be crossed.

Warning: this story contains details some may find distressing.

At Harrods, his personal fiefdom, he created an intimidating atmosphere where a phalanx of bodyguards protected him around the clock and where surveillance equipment was installed in backroom offices.

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‘He knew where my parents lived’

Alice, not her real name, said she received a phone call from Fayed’s head of security after, in 1995, he found out she had spoken to a journalist about their boss’s behaviour. She says she was 16 years old when Fayed sexually assaulted her.

“He said that I wasn’t to be involved in the article and that, if I went against his advice, I should be aware that he knew where my parents lived – It turned me cold.”

Alice didn’t speak about her experiences again until she gave an interview to the BBC recently.

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Fayed also corrupted the store’s HR department, which played a role in promoting young women from the shop floor to work in his executive suite – aware of his interest in them.

“We all watched each other walk through that door thinking, ‘you poor girl, it’s you today’ and feeling utterly powerless to stop it,” recalls Alice.

We now know that in Gemma’s case a senior member of the Harrods HR department was present in 2009 when lawyers destroyed evidence of his sexual misconduct against her. This included messages he had sent her and tapes of nasty voicemails.

Gemma began working as one of Fayed’s personal assistants in 2007. She says Fayed raped her at his villa in France after she woke to find him next to her bed.

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After it was over, she cried while he got up and told her aggressively to wash herself with Dettol. “Obviously he wanted me to erase any trace of him being anywhere near me,” she explains.

Gemma describes how a shredding truck was sent to her lawyer’s office

Many of the women raped and sexually assaulted by Fayed decided to speak out only after his death because they felt it was finally safe enough to do so.

But that wasn’t the only reason. Some were angered by the positive way he was portrayed in the Netflix series The Crown.

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They thought this was a rewriting of history and the truth about him needed to be revealed.

“It feels good to change the legacy of a man who really was a monster,” says Natacha, another women subjected to Fayed’s behaviour. “I don’t think we really comprehended that at the time.”

Speaking at a press conference on Friday, the morning after our documentary was broadcast, she said: “I finally have the opportunity and freedom to speak up. I no longer feel afraid so I speak for my daughters, my nieces … and all the survivors of sexual abuse in this room today who were silenced for so many years.”

Around 20 of Fayed’s victims had gathered at the event to listen to lawyers lay out the details of his alleged crimes. Others were still too afraid to come.

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Mike Radford is executive producer of Al Fayed: Predator at Harrods

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Malnutrition crisis threatens child health gains, warns Bill Gates

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This article picked by a teacher with suggested questions is part of the Financial Times free schools access programme. Details/registration here.

Read our full range of IB geography picks here.

Specification:

Click to read the article below and then answer the questions:

Malnutrition crisis threatens child health gains, warns Bill Gates

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  • State the estimated increase in the number of children predicted to experience stunted growth due to malnutrition between 2024 and 2050, according to Bill Gates

  • According to the article, explain how climate change has worsened global food security and nutrition

  • Suggest two reasons why western countries have become more reluctant to donate aid to combat malnutrition, as highlighted in the article

  • “Increasing foreign aid to combat malnutrition is the most effective way to ensure long-term food security in low-income countries.” To what extent do you agree with this statement?

Richard Allaway, International School of Geneva/geographyalltheway.com

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Ukraine bans Telegram use on state-issued devices

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Ukraine bans Telegram use on state-issued devices

Ukraine has banned the use of the Telegram messaging platform on official devices issued to government and military personnel, as well as defence sector and critical infrastructure employees.

The country’s powerful National Security and Defence Council (Rnbo) said this was done to “minimise” threats posed by Russia, which launched a full-scale invasion of Ukraine in 2022.

“Telegram is actively used by the enemy for cyber-attacks, the distribution of phishing and malicious software, user geolocation and missile strike correction,” the Rnbo said on Friday.

Telegram is widely used by the government and the military in both Ukraine and Russia.

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In a statement, the Rnbo said the ban was agreed at a meeting of Ukraine’s top information security officials, the military as well as lawmakers.

It said military intelligence chief Kyrylo Budanov had presented credible evidence of Russian special services’ ability to access personal correspondence of Telegram users, even their deleted messages.

“I have always supported and continue to support freedom of speech, but the issue of Telegram is not a matter of freedom of speech, it is a matter of national security,” Budanov was quoted as saying.

The Rnbo said that those officials for whom the use of Telegram was part of their work duties would be exempt from the ban.

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Separately, Andriy Kovalenko, head of the Rnbo’s centre on countering disinformation, stressed the ban only applied to official devices – not personal smartphones.

He added that government officials and military personnel would be able to continue to maintain and update their official Telegram pages.

Last year, a USAID-Internews survey found that Telegram was the top social platform in Ukraine for news consumption, with 72% of Ukrainians using it.

Telegram – which offers end-to-end encryption – was co-founded by Russian-born Pavel Durov and his brother in 2013.

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A year later, Durov left Russia after refusing to comply with government demands to shut down opposition communities on the platform.

Last month, Durov, who is also a French national, was placed under formal investigation in France as part of a probe into organised crime.

His case has fuelled a debate about freedom of speech, accountability and how platforms moderate content.

In July, Durov claimed that Telegram reached 950 million monthly active users.

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