Wall Street Wants to Lend You Money to Fight Climate Change

Donald Trump speaks at a campaign rally in Colorado on October 30, 2016. — Brennan Linsley / AP

How the GOP Prompted the Decay of Political Norms

E.J. Dionne Jr., Norm Ornstein, and Thomas E. Mann

The Republican Party laid the groundwork for dysfunction long before Donald Trump was elected president.

President Trump’s approach to governance is unlike that of his recent predecessors, but it is also not without antecedents. The groundwork for some of this dysfunction was laid in the decades before Trump’s emergence as a political figure. Nowhere is that more true than in the disappearance of the norms of American politics.

Norms are defined as “a standard or pattern, especially of social behavior, that is typical or expected of a group.” They are how a person is supposed to behave in a given social setting. We don’t fully appreciate the power of norms until they are violated on a regular  basis. And the breaching of norms often produces a cascading effect: As one person breaks with tradition  and expectation, behavior previously considered inappropriate is normalized and taken up by others. Donald Trump is the Normless President, and his ascendancy threatens to inspire a new wave of norm-breaking.

Jesse Draxler; Photo: David Hume Kennerly / Getty

The First White President

Ta-Nehisi Coates

The foundation of Donald Trump’s presidency is the negation of Barack Obama’s legacy.

It is insufficient to state the obvious of Donald Trump: that he is a white man who would not be president were it not for this fact. With one immediate exception, Trump’s predecessors made their way to high office through the passive power of whiteness—that bloody heirloom which cannot ensure mastery of all events but can conjure a tailwind for most of them. Land theft and human plunder cleared the grounds for Trump’s forefathers and barred others from it. Once upon the field, these men became soldiers, statesmen, and scholars; held court in Paris; presided at Princeton; advanced into the Wilderness and then into the White House. Their individual triumphs made this exclusive party seem above America’s founding sins, and it was forgotten that the former was in fact bound to the latter, that all their victories had transpired on cleared grounds. No such elegant detachment can be attributed to Donald Trump—a president who, more than any other, has made the awful inheritance explicit.

Can Conservative Journalism Survive?

Conor Friedersdorf

The right’s old guard faces an existential threat in populism. But it isn’t yet clear that they understand the stakes or possess the confidence to fight back.

Donald Trump’s rise to power put National Review, The Weekly Standard, and the sorts of journalists who work there in a distressing bind. Neither the president nor the #MAGA loyalists who staff his White House adhere to conservative principles. Yet many donors, subscribers, and readers who sustain their publications prefer Trump’s blustering, bombastic project, massively shifting the center of gravity on the right.

Tribalist populism is ascendant––and conservative publications no longer thereby benefit, in part because newer magazines and web sites are more closely aligned with it.

During the 1950s, when the postwar governing establishment presumed a liberal consensus and the right was as internally divided as it is now, William F. Buckley built a competing coalition in part by winning converts on the right to conservatism, famously declaring himself to be standing athwart history yelling, “Stop!”

Have Smartphones Destroyed a Generation?

Jean M. Twenge

More comfortable online than out partying, post-Millennials are safer, physically, than adolescents have ever been. But they’re on the brink of a mental-health crisis.

One day last summer, around noon, I called Athena, a 13-year-old who lives in Houston, Texas. She answered her phone—she’s had an iPhone since she was 11—sounding as if she’d just woken up. We chatted about her favorite songs and TV shows, and I asked her what she likes to do with her friends. “We go to the mall,” she said. “Do your parents drop you off?,” I asked, recalling my own middle-school days, in the 1980s, when I’d enjoy a few parent-free hours shopping with my friends. “No—I go with my family,” she replied. “We’ll go with my mom and brothers and walk a little behind them. I just have to tell my mom where we’re going. I have to check in every hour or every 30 minutes.”

Those mall trips are infrequent—about once a month. More often, Athena and her friends spend time together on their phones, unchaperoned. Unlike the teens of my generation, who might have spent an evening tying up the family landline with gossip, they talk on Snapchat, the smartphone app that allows users to send pictures and videos that quickly disappear. They make sure to keep up their Snapstreaks, which show how many days in a row they have Snapchatted with each other. Sometimes they save screenshots of particularly ridiculous pictures of friends. “It’s good blackmail,” Athena said. (Because she’s a minor, I’m not using her real name.) She told me she’d spent most of the summer hanging out alone in her room with her phone. That’s just the way her generation is, she said. “We didn’t have a choice to know any life without iPads or iPhones. I think we like our phones more than we like actual people.”

Those Who Don’t Learn From Financial Crises Are Doomed to Repeat Them

Diana B. Henriques

The first modern market crash, in 1987, reflected lasting changes in how Wall Street works. Regulators still haven’t adjusted.

Veterans of the stock market insist that the four most dangerous words on Wall Street are “this time is different.”

It rarely is. In the autumn of 1929, Irving Fisher, a prominent economist at Yale, assured Americans that stock prices had reached “what looks like a permanently high plateau.” That was on October 15, just days before the opening stumble in an epic crash that, by its nadir in 1931, would cut the American stock market’s value by almost 90 percent. In early 2000, exuberant tech analysts argued that revenues and profits were no longer the metrics that mattered in the internet age. Then the dot-com bubble burst and the technology-laden Nasdaq Composite Index fell almost 80 percent between March 2000 and October 2002. Clearly, when the market is soaring, it can be ruinous to believe that its highs are the mark of some fundamental financial shift.

Silhouette of a doctor looking at an MRI scan — Don Carstens / Getty

Reading the Bible Through Neuroscience

Sigal Samuel

What was it like inside the brain of an ancient prophet?

James Kugel has been spent his entire scholarly career studying the Bible, but some very basic questions about it still obsess him. What was it about the minds of ancient Israelites that allowed them to hear and see God directly—or at least, to believe that they did? Were the biblical prophets literally hearing voices and seeing visions, understanding themselves to be transmitting God’s own exact words? If so, why did such direct encounters with God become rarer over time?

In his new and final book, The Great Shift, Kugel investigates these questions through the lens of neuroscientific findings. (The approach is reminiscent of other recent books, like Kabbalah: A Neurocognitive Approach to Mystical Experiences, co-written by a neurologist and a mysticism scholar.) First, Kugel uses biblical research to show that ancient people had a “sense of self” that was fundamentally different from the one modern Westerners have—and that this enabled them to experience and interpret prophecy differently than we do. Then he uses scientific research to show that we shouldn’t assume their view was wrong. If anything, our modern Western notion of the bounded, individual self is the anomaly; most human beings throughout history conceived of the self as a porous entity open to intrusions. In fact, much of the rest of the world today still does.

Mark Zuckerberg speaks. — Reuters/Jose Miguel Gomez

Facebook's Reckoning Draws Nearer

Alexis C. Madrigal

Sooner or later, the company will be forced to take on the responsibilities that come with being the world's dominant news distributor.

Nine months after Donald Trump won the presidency by unexpectedly swinging key states in the upper Midwest by slim margins, Facebook’s role in the 2016 election is still not clear.

Just in the last week, Facebook’s advertising has come under new scrutiny. Friday evening, The Wall Street Journal reported and CNN confirmed that special prosecutor Robert Mueller served the company with a search warrant to gather information on Russia-linked accounts that Facebook said purchased $150,000 worth of ads on the platform.

Earlier in the week, ProPublica found that anti-Semitic terms could be used to target advertising, prompting Facebook to scramble to patch up its advertising-keyword system.

Both incidents highlighted a basic question: What should Facebook know about the automated systems that it uses to make money?

When Mormons Aspired to Be a ‘White and Delightsome’ People

Emma Green

A historian looks at the legacy of racism in the Church of Jesus Christ of Latter-day Saints.

So many recent events in American life have been a call for the country to grapple with its legacy of racism and white supremacy, including the violence in Charlottesville and even the 2016 election. These events have created turmoil among some conservative Christian groups, who have tried—in fits and starts—to confront their own racial divisions.

One group, however, has taken a slightly different path: Mormons. While a majority of Mormons voted for Trump in the 2016 election, he fared far worse than previous Republican presidential candidates among the minority religious group. According to The Salt Lake Tribune, many in Mormon-heavy Utah doubted the president’s moral character and strength as a role model.

Why Hillary Clinton's Book Is Actually Worth Reading

James Fallows

It’s the rare interesting work by a politician—and it offers an important critique of the press.

Most books by politicians are bad. They’re bad because they are cautious, or pious, or boring, or some even-worse combination of all three.

They’re cautious because over the years politicians learn they have more to lose than gain by taking “interesting” or edgy stands. (Something I learned when working as a campaign and White House speechwriter: In “normal” writing, your goal is to make your meaning as clear as possible, ideally in a memorable way. For a politician, the goal is to make the meaning just clear enough that most people will still agree with you. Clearer than that, and you’re in trouble.)

They’re pious because in one way or another the “revealing” stories about the authors are really campaign ads—for future elections by politicians who have a big race still ahead of them, or for history’s esteem by senior figures looking back. Thus politicians’ biographies fall into the general categories of humble-brag (most of them) or braggy-brag (Trump’s).

Supporters of Lebanon's Hezbollah leader Sayyed Hassan Nasrallah display Hezbollah and Lebanese flags. — Hassan Abdallah / Reuters

The Hubris of Hezbollah

Andrew Exum

How the militant group will fumble into the next Middle Eastern war.

Two weeks ago, James Mattis, the U.S. secretary of defense, attempted to justify the provision of U.S. arms to Ukraine. “Defensive arms,” he said, “are not provocative unless you are the aggressor.” The claim was as banal as it was wrong.

Secretary Mattis’s statement made for good politics, and it also makes a degree of intuitive sense. But three generations of students of conflict who have studied “the security dilemma” know it is not, in fact, the case. All too often, nations act in such a way—building up big armies or navies—that they assume will better protect them from their adversaries. What they fail to realize is that sometimes their adversaries will view these “preventive” or “defensive” actions as quite aggressive, in fact, and will make conflict more, not less, likely.