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Lumifer comments on "3 Reasons It’s Irrational to Demand ‘Rationalism’ in Social Justice Activism" - Less Wrong
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The horseshoe theory (also known by a variety of other names) can be explained simpler by pointing out that some people are really interested in power and both extreme left and extreme right share that interest.
If you arrange political movements by their degree of statism, for example, you'll find anarcho-libertarians on one end and both communists and nazis bunched up on the other end.