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Elizabeth Warren’s ‘Accountable Capitalism Act’ aims to restore what we once had in this country
An interesting take on "fixing" the rampant corporate supremacy of the last 40 years.

In the heyday of the middle class in the United States—arguably the 1950s through late-1960s—it was pretty much understood that if you gave your best to an employer, that employer would return the favor, guaranteeing a good wage, pension, quality health care and other benefits. It’s not a coincidence that this time period was also the most unionized we’ve ever had.
Even the communities that these very same corporations existed in received the benefit of companies that valued everyone, including the citizens of the towns they built their operations in, their schools, environment, and more.
In a Wall Street Journal op-ed announcing her legislation, Senator Elizabeth Warren states, “For much of U.S. history, the answers were clear. Corporations sought to succeed in the marketplace, but they also recognized their obligations to employees, customers and the community. As recently as 1981, the Business Roundtable—which represents large U.S. companies—stated that corporations ‘have a responsibility, first of all, to make available to the public quality goods and services at fair prices, thereby earning a profit that attracts investment to continue and enhance the enterprise, provide jobs, and build the economy.’ This approach worked. American companies and workers thrived.”
In the late 1970s and early 1980s, what replaced those values was an ideology hatched by economist Milton Friedman, who held corporate profits as the be-all and end-all, with commensurate economic returns to owners and shareholders. Period. No matter the cost to society, workers, the environment, etc.
A prime example of vulture capitalism. (Image: Creative Commons)
The legislation that Warren introduced last week, the Accountable Capitalism Act, has some interesting changes to that worldview:
- Eliminate the incentive for companies to give cash to shareholders rather than reinvest in the business. If this concept got legs, this would effectively dismantle vulture capitalism.
- Put a strict limit on political activities by corporations, rather than letting them donate as much as they want to whomever they want.
- Add workers or their representatives to the board of directors of larger corporations, like they do in Germany and other countries. Her proposal pegs that number at 40%—significant when considering almost none of them do that now.
It’s a key difference from some other Democrats embracing Democratic Socialism; the intention, she says, is to prop up the system of capitalism, which has, indeed, been failing us.
In an interesting twist on the “Corporations are people” line that’s been going on for decades now—especially from some of the more business-friendly politicians—Warren wants companies, if they are “people,” or "citizens," to act like good ones and uphold the social contract that they did during the post-WWII period. Her vision of Friedman-era corporations is that if they are people, they have turned into sociopaths.
To put a finer point on it, she proposes a federal charter of corporate citizenship for the largest companies—those making over $1 billion a year—that would require those very same corporations to consider the interests of all stakeholders, including shareholders, customers, employees, and even the communities in which they operate, when making decisions.
It’s pretty radical, really. And it’s likely going to be a key part of Warren’s run up to her possible Democratic Party presidential nomination in 2020.
And, despite the fact that the Dow Jones and other major stock indices give the appearance of increased wealth in the United States, that wealth hasn’t translated to the middle class or working people, where wages are stagnant and benefits are weak or non-existent. Indeed, just 10% of the U.S. population owns 84% of the stocks traded on Wall Street.
Here is Senator Elizabeth Warren announcing the legislation on Twitter, and some of the reactions and responses follow her set of Tweets from last week:
My new bill would end business-as-usual in Washington and rip corruption out by the roots. Here's what I want you to know about the Anti-Corruption Act.
— Elizabeth Warren (@elizabethforma) August 23, 2018
Iron Age discoveries uncovered outside London, including a ‘murder’ victim
A man's skeleton, found facedown with his hands bound, was unearthed near an ancient ceremonial circle during a high speed rail excavation project.
- A skeleton representing a man who was tossed face down into a ditch nearly 2,500 years ago with his hands bound in front of his hips was dug up during an excavation outside of London.
- The discovery was made during a high speed rail project that has been a bonanza for archaeology, as the area is home to more than 60 ancient sites along the planned route.
- An ornate grave of a high status individual from the Roman period and an ancient ceremonial circle were also discovered during the excavations.
Foul play?
<p>A skeleton representing a man who was tossed face down into a ditch nearly 2,500 years ago with his hands bound in front of his hips was dug up during a high speed rail excavation.</p><p>The positioning of the remains have led archaeologists to suspect that the man may have been a victim of an ancient murder or execution. Though any bindings have since decomposed, his hands were positioned together and pinned under his pelvis. There was also no sign of a grave or coffin. </p><p>"He seems to have had his hands tied, and he was face-down in the bottom of the ditch," <a href="https://www.livescience.com/iron-age-murder-victim-england.html" target="_blank">said archaeologist Rachel Wood</a>, who led the excavation. "There are not many ways that you end up that way."</p><p>Currently, archaeologists are examining the skeleton to uncover more information about the circumstances of the man's death. Fragments of pottery found in the ditch may offer some clues as to exactly when the man died. </p><p>"If he was struck across the head with a heavy object, you could find a mark of that on the back of the skull," Wood said to <a href="https://www.livescience.com/iron-age-murder-victim-england.html" target="_blank">Live Science</a>. "If he was stabbed, you could find blade marks on the ribs. So we're hoping to find something like that, to tell us how he died."</p>Other discoveries at Wellwick Farm
<p>The grim discovery was made at Wellwick Farm near Wendover. That is about 15 miles north-west of the outskirts of London, where <a href="https://www.hs2.org.uk/building-hs2/hs2-green-corridor/" target="_blank">a tunnel</a> is going to be built as part of a HS2 high-speed rail project due to open between London and several northern cities sometime after 2028. The infrastructure project has been something of a bonanza for archaeology as the area is home to more than 60 ancient sites along the planned route that are now being excavated before construction begins. </p><p>The farm sits less than a mile away from the ancient highway <a href="http://web.stanford.edu/group/texttechnologies/cgi-bin/stanfordnottingham/places/?icknield" target="_blank">Icknield Way</a> that runs along the tops of the Chiltern Hills. The route (now mostly trails) has been used since prehistoric times. Evidence at Wellwick Farm indicates that from the Neolithic to the Medieval eras, humans have occupied the region for more than 4,000 years, making it a rich area for archaeological finds. </p><p>Wood and her colleagues found some evidence of an ancient village occupied from the late Bronze Age (more than 3,000 years ago) until the Roman Empire's invasion of southern England about 2,000 years ago. At the site were the remains of animal pens, pits for disposing food, and a roundhouse — a standard British dwelling during the Bronze Age constructed with a circular plan made of stone or wood topped with a conical thatched roof.</p>Ceremonial burial site
<img type="lazy-image" data-runner-src="https://assets.rebelmouse.io/eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJpbWFnZSI6Imh0dHBzOi8vYXNzZXRzLnJibC5tcy8yMzUzMTk0Ni9vcmlnaW4uanBnIiwiZXhwaXJlc19hdCI6MTY0NDgwNTIyMX0.I49n1-j8WVhKjIZS_wVWZissnk3W1583yYXB7qaGtN8/img.jpg?width=1245&coordinates=0%2C82%2C0%2C83&height=700" id="44da7" class="rm-shortcode" data-rm-shortcode-id="46cfc8ca1c64fc404b32014542221275" data-rm-shortcode-name="rebelmouse-image" alt="top down view of coffin" data-width="1245" data-height="700" />A high status burial in a lead-lined coffin dating back to Roman times.
Photo Credit: HS2
<p>While these ancient people moved away from Wellwick Farm before the Romans invaded, a large portion of the area was still used for ritual burials for high-status members of society, Wood told Live Science. The ceremonial burial site included a circular ditch (about 60 feet across) at the center, and was a bit of a distance away from the ditch where the (suspected) murder victim was uncovered. Additionally, archaeologists found an ornately detailed grave near the sacred burial site that dates back to the Roman period, hundreds of years later when the original Bronze Age burial site would have been overgrown.</p><p>The newer grave from the Roman period encapsulated an adult skeleton contained in a lead-lined coffin. It's likely that the outer coffin had been made of wood that rotted away. Since it was clearly an ornate burial, the occupant of the grave was probably a person of high status who could afford such a lavish burial. However, according to Wood, no treasures or tokens had been discovered. </p>Sacred timber circle
<img type="lazy-image" data-runner-src="https://assets.rebelmouse.io/eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJpbWFnZSI6Imh0dHBzOi8vYXNzZXRzLnJibC5tcy8yMzUzMTk0Ny9vcmlnaW4uanBnIiwiZXhwaXJlc19hdCI6MTY2MDAwOTQ4Mn0.eVJAUcD0uBUkVMFuMOPSgH8EssGkfLf_MjwUv0zGCI8/img.jpg?width=1245&coordinates=0%2C149%2C0%2C149&height=700" id="9de6a" class="rm-shortcode" data-rm-shortcode-id="ee66520d470b26f5c055eaef0b95ec06" data-rm-shortcode-name="rebelmouse-image" alt="An aerial view of the sacred circular monument." data-width="1245" data-height="700" />An aerial view of the sacred circular monument.
Photo Credit: HS2
<p>One of the most compelling archaeological discoveries at Wellwick Farm are the indications of a huge ceremonial circle once circumscribed by timber posts lying south of the Bronze Age burial site. Though the wooden posts have rotted away, signs of the post holes remain. It's thought to date from the Neolithic period to 5,000 years ago, according to Wood.</p><p>This circle would have had a diameter stretching 210 feet across and consisted of two rings of hundreds of posts. There would have been an entry gap to the south-west. Five posts in the very center of the circle aligned with that same gap, which, according to Wood, appeared to have been in the direction of the rising sun on the day of the midwinter solstice. </p><p>Similar Neolithic timber circles have been discovered around Great Britain, such as one near <a href="https://bigthink.com/culture-religion/stonehenge-sarsens" target="_blank">Stonehenge</a> that is considered to date back to around the same time. </p>Skepticism: Why critical thinking makes you smarter
Being skeptical isn't just about being contrarian. It's about asking the right questions of ourselves and others to gain understanding.
- It's not always easy to tell the difference between objective truth and what we believe to be true. Separating facts from opinions, according to skeptic Michael Shermer, theoretical physicist Lawrence Krauss, and others, requires research, self-reflection, and time.
- Recognizing your own biases and those of others, avoiding echo chambers, actively seeking out opposing voices, and asking smart, testable questions are a few of the ways that skepticism can be a useful tool for learning and growth.
- As Derren Brown points out, being "skeptical of skepticism" can also lead to interesting revelations and teach us new things about ourselves and our psychology.
New study suggests placebo might be as powerful as psychedelics
New study suggests the placebo effect can be as powerful as microdosing LSD.
- New research from Imperial College London investigated the psychological effects of microdosing LSD in 191 volunteers.
- While microdosers experienced beneficial mental health effects, the placebo group performed statistically similar to those who took LSD.
- Researchers believe the expectation of a trip could produce some of the same sensations as actually ingesting psychedelics.
Psychedelics: The scientific renaissance of mind-altering drugs
<span style="display:block;position:relative;padding-top:56.25%;" class="rm-shortcode" data-rm-shortcode-id="92360c805fe66c11de38a75b0967f417"><iframe type="lazy-iframe" data-runner-src="https://www.youtube.com/embed/5T0LmbWROKY?rel=0" width="100%" height="auto" frameborder="0" scrolling="no" style="position:absolute;top:0;left:0;width:100%;height:100%;"></iframe></span><p>For the study published in eLife, the team recruited 191 citizen cosmonauts to microdose either LSD or a placebo over the course of several weeks and note the psychological effects. Volunteers were already microdosing LSD, so there was no true control. Each volunteer was given instructions on creating their own low-dose gel capsules, some containing LSD, others not. Then they mixed the capsules in envelopes so they didn't know if they were taking the real thing or not.</p><p>The trial design was ingenious: each capsule featured a QR code that was scanned after the addition of ingredients but before they were placed in the envelope so that researchers knew what they were ingesting.</p><p>The problem: volunteers sourced their own LSD. Lack of quality control could have had a profound effect on the results. </p><p>The results: LSD microdosers reported feeling more mindful, satisfied with life, and better overall; they also noticed a reduction in feelings of paranoia. </p><p>The catch: the control group felt the same thing, with no statistical difference between the groups. </p><p>Lead author Balázs Szigeti comments on the findings: "This suggests that the improvements may not be due to the pharmacological action of the drug but can instead be explained by the placebo effect." </p>Credit: Alexander / Adobe Stock
<p>Psychedelics are notoriously difficult to control for given the intensity of the experience. Yet there is precedent for the above findings. A <a href="https://link.springer.com/article/10.1007/s00213-020-05464-5" target="_blank">2019 study</a> found that 61 percent of volunteers that took a placebo instead of psilocybin felt some psychedelic effects, with a few volunteers experiencing full-on trips.</p><p style="margin-left: 20px;">"Several stated that they saw the paintings on the walls 'move' or 'reshape' themselves, others felt 'heavy. . . as if gravity [had] a stronger hold', and one had a 'come down' before another 'wave' hit her."</p><p>The Imperial team believes the expectation of a trip might have been enough to produce similar results. Senior author David Erritzoe is excited for future studies on the topic, believing they tapped into a new wave of citizen science that could push forward our knowledge of psychedelic substances.</p><p style="margin-left: 20px;">"Accounting for the placebo effect is important when assessing trends such as the use of cannabidiol oils, fad diets or supplements where social pressure or users' expectations can lead to a strong placebo response. Self-blinding citizen science initiatives could be used as an inexpensive, initial screening tool before launching expensive clinical studies."</p><p>As investments into the psychedelics market explode, with one company <a href="https://www.bloomberg.com/news/articles/2021-03-03/thiel-backed-magic-mushroom-firm-atai-hits-2-billion-valuation" target="_blank">reaching a $2 billion valuation</a>, a recurring irony appears in the long arc of psychedelics and research: the power of our minds might be enough to feel greater life satisfaction and a deeper sense of mindfulness. If that's possible with a placebo, we have to question why the rush to create more pharmacology is necessary. </p><p>This is, mind you, a separate conversation over the role of psychedelics and rituals for group bonding. The function of group cohesion around consciousness-altering substances will continue to play an important role in many communities. </p><p>Of course, we should continue to explore the efficacy of psychedelics on anxiety, depression, suicidal ideation, PTSD, and addiction. <a href="https://bigthink.com/surprising-science/antidepressant-effects" target="_self">Pharmacological dependence</a> is a stain on the psychiatry industry. Whether or not psychedelics can be prescribed for daily use remains to be seen, but we know a moneyed interest is expecting a return on investment—the above company, ATAI Life Sciences, raised $157 million in its Series D round. </p><p>When it comes to wellbeing, some things money just can't buy. How we navigate the tricky terrain of mainstreaming psychedelics remains to be seen. </p><p>--</p><p><em>Stay in touch with Derek on <a href="http://www.twitter.com/derekberes" target="_blank">Twitter</a> and <a href="https://www.facebook.com/DerekBeresdotcom" target="_blank" rel="noopener noreferrer">Facebook</a>. His most recent book is</em> "<em><a href="https://www.amazon.com/gp/product/B08KRVMP2M?pf_rd_r=MDJW43337675SZ0X00FH&pf_rd_p=edaba0ee-c2fe-4124-9f5d-b31d6b1bfbee" target="_blank" rel="noopener noreferrer">Hero's Dose: The Case For Psychedelics in Ritual and Therapy</a>."</em></p>Your genetics influence how resilient you are to the cold
What makes some people more likely to shiver than others?
