{"id":13504,"date":"2016-06-27T22:31:36","date_gmt":"2016-06-28T02:31:36","guid":{"rendered":"http:\/\/goldstocksforex.com\/?p=13504"},"modified":"2016-06-27T22:31:36","modified_gmt":"2016-06-28T02:31:36","slug":"culturally-constructed-ignorance-wins-the-day-bloomberg-view","status":"publish","type":"post","link":"https:\/\/thepatientinvestor.com\/index.php\/2016\/06\/27\/culturally-constructed-ignorance-wins-the-day-bloomberg-view\/","title":{"rendered":"Culturally Constructed Ignorance Wins the Day | Bloomberg View"},"content":{"rendered":"<p><a href=\"http:\/\/www.bloomberg.com\/view\/articles\/2016-06-27\/culturally-constructed-ignorance-wins-the-day\"><img data-recalc-dims=\"1\" decoding=\"async\" class=\"alignnone size-full\" src=\"https:\/\/i0.wp.com\/thepatientinvestor.com\/wp-content\/uploads\/2016\/06\/1200x-1.jpg?w=525&#038;ssl=1\" alt=\"\" \/><\/a><\/p>\n<p>Barry Ritholz ascribes the BREXIT vote to &#8220;culturally constructed ignorance&#8221;:<\/p>\n<blockquote><p>&#8230;.there is a disconcerting trend that has gained strength: agnotology. It\u2019s a term worth knowing, since it is going global. The word was coined by Stanford University professor Robert N. Proctor, who described it as \u201cculturally constructed ignorance, created by special interest groups to create confusion and suppress the truth in a societally important issue.\u201d It is especially useful to sow seeds of doubt in complex scientific issues by publicizing inaccurate or misleading data. Culturally constructed ignorance played a major role in the Brexit vote, as we shall see after a bit of explanation.<\/p>\n<p>&#8230;.Current agnotology campaigns seem to be having similarly desired effects. We see the results in a variety of public-policy issues where one side has manufactured enough doubt through false statements, inflammatory rhetoric and data from dubious sources that they can mislead public opinion in a significant way, at least for a time.<\/p>\n<p>&#8230;.In the aftermath of the Brexit vote, there is evidence that people didn\u2019t fully understand what they were voting for. Some didn\u2019t think their protest vote would matter, or misunderstood what they were voting for, or what the EU actually was. There seems to be a rise in voters\u2019 remorse the days after. Many blamed the tabloids in the U.K.. The misstatements and myths which were being pressed by the leave campaign about the EU were so rampant and absurd that the European Commission had to put out repeated corrections and maintain a blog to rebut the nonsense.<\/p><\/blockquote>\n<p>While I am as concerned as Barry over the dumbing down of political debate, ably assisted by the tabloid press and the Internet, where &#8220;false statements, inflammatory rhetoric and data from dubious sources&#8221; are used to inflame the public, this is nothing new. That is politics. When emotions are aroused, the intellect is dormant.<\/p>\n<p>But we should guard against the arrogance of presuming that voters are misinformed. Perhaps it is us, as George Friedman points out, who are aloof from issues on the street:<\/p>\n<blockquote><p>Immigration is socially destabilizing. There is always friction between older residents and immigrants&#8230;..But, better educated and wealthier individuals normally don\u2019t experience this&#8230;<\/p>\n<p>&#8230;.the British who were for it, to a large extent, did not feel the profound social costs of immigration. That fee was going to be paid by those who\u2014again with many exceptions\u2014voted for leaving.<\/p><\/blockquote>\n<p>Source: <a href=\"http:\/\/www.bloomberg.com\/view\/articles\/2016-06-27\/culturally-constructed-ignorance-wins-the-day\">Culturally Constructed Ignorance Wins the Day &#8211; Bloomberg View<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Barry Ritholz ascribes the BREXIT vote to &#8220;culturally constructed ignorance&#8221;: &#8230;.there is a disconcerting trend that has gained strength: agnotology. It\u2019s a term worth knowing, since it is going global. The word was coined by Stanford University professor Robert N. Proctor, who described it as \u201cculturally constructed ignorance, created by special interest groups to create &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/thepatientinvestor.com\/index.php\/2016\/06\/27\/culturally-constructed-ignorance-wins-the-day-bloomberg-view\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Culturally Constructed Ignorance Wins the Day | Bloomberg View&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[29,33],"tags":[],"class_list":["post-13504","post","type-post","status-publish","format-standard","hentry","category-the-big-picture","category-uk-europe-countries-regions"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Culturally Constructed Ignorance Wins the Day | Bloomberg View - the patient investor<\/title>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Culturally Constructed Ignorance Wins the Day | Bloomberg View - the patient investor\" \/>\n<meta property=\"og:description\" content=\"Barry Ritholz ascribes the BREXIT vote to &#8220;culturally constructed ignorance&#8221;: &#8230;.there is a disconcerting trend that has gained strength: agnotology. It\u2019s a term worth knowing, since it is going global. The word was coined by Stanford University professor Robert N. 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It\u2019s a term worth knowing, since it is going global. The word was coined by Stanford University professor Robert N. 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Prime Minister David Cameron and Chancellor George Osborne blame the eurozone crisis; in fact, their own economic illiteracy is to blame. Unfortunately\u2026","rel":"","context":"In &quot;UK &amp; Europe&quot;","block_context":{"text":"UK &amp; Europe","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/uk-europe-countries-regions\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":13479,"url":"https:\/\/thepatientinvestor.com\/index.php\/2016\/06\/23\/gold-should-i-brexit\/","url_meta":{"origin":13504,"position":1},"title":"Gold: Should I BREXIT?","author":"ColinTwiggs","date":"June 23, 2016","format":false,"excerpt":"Odds of a BREXIT are drifting at the bookmakers, with REMAIN a firm 1 to 4 favorite. Fears of a BREXIT have been driving demand for gold and a REMAIN vote is likely to spur a sell-off. * Target calculation: 1300 + ( 1300 - 1050 ) = 1550 Breakout\u2026","rel":"","context":"In &quot;Gold &amp; Precious Metals&quot;","block_context":{"text":"Gold &amp; Precious Metals","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/gold-commodities\/gold-precious-metals\/"},"img":{"alt_text":"Gold","src":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2016\/2016-06-23-gold.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2016\/2016-06-23-gold.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2016\/2016-06-23-gold.png?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":13486,"url":"https:\/\/thepatientinvestor.com\/index.php\/2016\/06\/24\/gold-surges-as-brexit-looms\/","url_meta":{"origin":13504,"position":2},"title":"Gold surges as BREXIT looms","author":"ColinTwiggs","date":"June 24, 2016","format":false,"excerpt":"It looks like the LEAVE vote has it, with a lead of more than 900,000 so far. Gold bugs seem to think so, with the spot price blasting through resistance at $1300\/ounce. Retracement that respects the new support level would confirm a target of $1550*. * Target calculation: 1300 +\u2026","rel":"","context":"In &quot;Gold &amp; Precious Metals&quot;","block_context":{"text":"Gold &amp; Precious Metals","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/gold-commodities\/gold-precious-metals\/"},"img":{"alt_text":"Gold","src":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2016\/2016-06-24-gold.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2016\/2016-06-24-gold.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2016\/2016-06-24-gold.png?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":12866,"url":"https:\/\/thepatientinvestor.com\/index.php\/2016\/02\/20\/a-new-cold-war-russias-confrontation-with-the-west\/","url_meta":{"origin":13504,"position":3},"title":"A New Cold War? Russia\u2019s Confrontation with the West","author":"ColinTwiggs","date":"February 20, 2016","format":false,"excerpt":"https:\/\/youtu.be\/0KOJg21OloA Michael A. McFaul, Stanford University professor of political science; director and senior fellow, Freeman Spogli Institute for International Studies; Peter and Helen Bing Senior Fellow, Hoover Institution; Stanford University, former ambassador to Russia (2012 - 2014). Colin's Comment: Here is what I see as the big picture: The current\u2026","rel":"","context":"In &quot;Russia &amp; Former USSR&quot;","block_context":{"text":"Russia &amp; Former USSR","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/russia-former-ussr\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/img.youtube.com\/vi\/0KOJg21OloA\/0.jpg?resize=350%2C200","width":350,"height":200},"classes":[]},{"id":13509,"url":"https:\/\/thepatientinvestor.com\/index.php\/2016\/06\/27\/brexit-an-indictment-of-direct-democracy-or-vulgar-politics-as-usual-the-diplomat\/","url_meta":{"origin":13504,"position":4},"title":"Brexit: An Indictment of Direct Democracy or Vulgar Politics as Usual? | The Diplomat","author":"ColinTwiggs","date":"June 27, 2016","format":false,"excerpt":"By Ankit Panda: Consider Boris Johnson, the man who appears best positioned to emerge as the UK\u2019s next prime minister. In becoming the public face of the Brexit campaign in defiance of fellow Tory Prime Minister David Cameron, Boris seized on the opportunity he saw in the aftermath of the\u2026","rel":"","context":"In &quot;The Big Picture&quot;","block_context":{"text":"The Big Picture","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/the-big-picture\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/thepatientinvestor.com\/wp-content\/uploads\/2016\/06\/thediplomat_2016-06-26_00-05-58-386x268.jpg?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":13502,"url":"https:\/\/thepatientinvestor.com\/index.php\/2016\/06\/27\/is-brexit-the-end-of-the-eu-mauldin-economics\/","url_meta":{"origin":13504,"position":5},"title":"Is Brexit the End of the EU? | Mauldin Economics","author":"ColinTwiggs","date":"June 27, 2016","format":false,"excerpt":"Excellent analysis from George Friedman: As troubling as Europe\u2019s economy is, it was not the prime mover in the referendum. The contentious immigration debate holds that honor. And immigration itself was not really the issue. Britain was quite comfortable with immigrants until Brussels began making demands. The EU dictating the\u2026","rel":"","context":"In &quot;The Big Picture&quot;","block_context":{"text":"The Big Picture","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/the-big-picture\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/13504","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/comments?post=13504"}],"version-history":[{"count":0,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/13504\/revisions"}],"wp:attachment":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/media?parent=13504"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/categories?post=13504"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/tags?post=13504"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}