Category: Economics

And it burns, burns, burnsAnd it burns, burns, burns

“Having too many rules leads to a culture of non-compliance that is every bit as lethal as having too few.” – “The tower and the anger,” The Economist, June 24, 2017

We can fix thatWe can fix that

“There exists an order of social problem that appears to be insoluble, but is not. At least not in the terms in which resolution of it is represented as impossible. A problem of that sort has at least some of the following features: it appears immensely complicated, with a resolution of any part of it seeming to bring about the aggravation of another; it has a long history, in the course of which it seems to grow, to accrete difficulties, and to merge and overlap with other problems, so that an attempt to solve the single problem appears hopeless without an assault (for which no sufficient resources can exist) upon them all; perception of the length and nature of that history must be inaccurate, and the terms in which it has been defined must be so imprecise (or so precise, but inapposite) that any formulation of the problem leads inevitably to argument, and great energy is dissipated in argument of that sort. Ideally, in other words, in its historical dimension, such a problem appears to have existed forever; and in its contemporary manifestation to be inextricable from every other problem in the world. Ideally, too, there should have grown up, over time, a number of industries and professions nominally dedicated to the eradication of the problem but actually committed, consciously or unconsciously, but almost inevitably out of self-interest, to the perpetuation of the problem, and of any misconceptions of it, for all time.” – Renata Adler, Pitch Dark

The great balanceThe great balance

“Detectives and prison guards need criminals, social workers require that people should continue to be poor; there are, in short, many workers with a vested interest in the failure of institutions that employ them, and in the insolubility of problems they are paid to solve. The perfect instance occurs in the narcotics laws. A substance, cheap to manufacture, is addictive. It is outlawed. Being outlawed, it becomes rare and expensive. Immediately, and for the first time, it becomes profitable for someone, the seller, to make people addicted to it. The law generates a criminal apparatus which in turn generates a law-enforcement apparatus. With time, their personnel become the same.” – Renata Adler, Pitch Dark

Get to itGet to it

“If the Back Forty has to be hayed, you go hay.” – Roxcy Bolton (quoted in “The naming of winds,” The Economist, June 17, 2017)

Not to mention counter-productiveNot to mention counter-productive

“Trade flourishes best when it is free, and it is weak policy to attempt to fetter it.” – Thomas Paine, “The American Crisis”

Iraq and Ukraine furnish recent examplesIraq and Ukraine furnish recent examples

“If there is a sin superior to every other, it is that of wilful and offensive war. Most other sins are circumscribed within narrow limits, that is, the power of one man cannot give them a very great extension, and many kinds of sins have only a mental existence from which no infection arises; but he who is the author of a war, lets loose the whole contagion of hell, and opens a vein that bleeds a nation to death.” – Thomas Paine, “The American Crisis” (emphasis in original)

Hammer them into shapeHammer them into shape

“A substantial good drawn from a real evil, is of the same benefit to society, as if drawn from a virtue; and where men have not public spirit to render themselves serviceable, it ought to be the study of government to draw the best use possible from their vices. When the governing passion of any man, or set of men, is once known, the method of managing them is easy; for even misers, whom no public virtue can impress, would become generous, could a heavy tax be laid upon covetousness.” – Thomas Paine, “The American Crisis”

Another day at the officeAnother day at the office

“To live beneath the authority of those whom we cannot love, is misery, slavery, or what name you please. In that case, there will never be peace. Security will be a thing unknown, because a treacherous friend in power is the most dangerous of enemies.” – Thomas Paine, “The Forester’s Letters”

It’s nothing personalIt’s nothing personal

“People were always getting ready for tomorrow. . . . Tomorrow wasn’t getting ready for them.” – Cormac McCarthy, The Road

And diamonds are a girl’s best friendAnd diamonds are a girl’s best friend

“What good is beauty, even youth?
All that may be quite good and fair,
But does it get you anywhere?
Their praise is half pity, you can be sure.
For gold contend,
On gold depend
All things. Woe to us poor!”

– Johann Wolfgang von Goethe, Faust, Part I (from Goethe’s Faust, trans. Walter Kaufman)

Cashing inCashing in

“Most of the Galician Jews, like Polish Jews residing in the General Government, died in the course of 1942 after spending months isolated from the rest of the population in ghettos created on Nazi orders. Acting on instructions of German police commanders, the Jewish and Ukrainian police rounded them up and shipped them to extermination camps. Motivated more often by greed than anti-Semitism, locals often tried to take advantage of the misfortunes of their Jewish neighbors, either denouncing them to the authorities or seizing their property. But the majority simply looked the other way.” – Serhii Plokhy, The Gates of Europe

A fine-looking bunchA fine-looking bunch

“By early October 1939, the Polish army had ceased to exist . . . . The Red Army, which was no match for the Germans in mechanization, demonstrated its superiority to the Polish troops in the quality of its armaments, which included new tanks, aircraft, and modern guns—all products of Stalin’s industrialization effort. But to the surprise of many, the Soviet officers and soldiers were often badly dressed, poorly fed, and shocked by the relative abundance of food and goods in the Polish shops. The locals found Soviet officers ideologically indoctrinated, uncultured, and unsophisticated. For years, they would tell and retell stories about the wives of Red Army officers who allegedly attended theaters in nightgowns, believing them to be evening dresses.” – Serhii Plokhy, The Gates of Europe

Dictatorship of the proletariatDictatorship of the proletariat

“The ‘Russian revolutionary sweep’ that Stalin wanted to combine with American efficiency came to Dniprohes with tens of thousands of Ukrainian peasants unqualified to do the job but eager to make a living. The number of workers employed in the construction of the dam and the electric power station grew from 13,000 in 1927 to 36,000 in 1931. The turnover was extremely high, even though the Soviets abandoned the earlier policy of equal pay for all categories of workers, and the top managers received up to ten times as much as unqualified workers; qualified workers made three times as much as the latter. Peasants had to turn into workers not only by learning trades but also by getting accustomed to coming in on time, not taking breaks at will, and following the orders of their superiors. It was a tall order for many new arrivals at the construction site of communism. In 1932, the Dniprohes administration hired 90,000 workers and released 60,000.” – Serhii Plokhy, The Gates of Europe

Just another industryJust another industry

“Courts acknowledge that running a prison is an inordinately difficult undertaking that requires expertise, planning, and the commitment of resources, all of which are peculiarly within the province of the legislative and executive branches of government. Courts must therefore accord substantial deference to the professional judgment of prison administrators, who bear a significant responsibility for defining the legitimate goals of a corrections system and for determining the most appropriate means to accomplish them.” – Judge Matthew F. Kennelly, Koger v. Dart (internal quotes and citations omitted)

One among severalOne among several

“Prison is an expensive way of making bad people worse.” – Douglas Richard Hurd, Baron Hurd of Westwell, Her Majesty’s Principal Secretary of State for the Home Department, 1985-1989

Children of the lesser godsChildren of the lesser gods

“Utopianism isn’t hope, still less optimism: it is need, and it is desire. For recognition, like all desire, and for the specifics of its reveries and programmes, too; and above all for betterness tout court. For alterity, something other than the exhausting social lie. For rest. And when the cracks in history open wide enough, the impulse may even jimmy them a little wider.” – China Miéville, “We Are All Thomas More’s Children”

Not the building of wallsNot the building of walls

“Cosmopolitanism is not a tribal trait; it is a virtue, as much as courage or honesty or compassion. Almost without exception, the periods of human civilization that we admire as we look back have been cosmopolitan in practice; even those, like the Bronze Age, that we imagine as monolithic and traditional turn out to be shaped by trade and exchange and multiple identity.” – Adam Gopnik, “Being Honest About Trump”

Same as a modern political partySame as a modern political party

“Unlike the masters of other great empires, the Mongols contributed little to the civilizations that came after them. They adopted the cultures of their subjects and when their empire disintegrated the world forgot them, but they had altered the course of history and they had left it scarred. Russia was torn away from Europe, and when the Mongols abandoned it after two hundred years it was feudal and backward. Poland and Hungary were so devastated that they never emerged to play their part in the renaissance that followed in the west. Bulgaria, like Russia, was isolated and then fell to the Ottoman Turks, whom the Mongols had driven out of Khwarizm and who were one day to stand on the banks of the Danube as the Mongols had done. The lands that once nurtured the great civilizations of the Persians were returned to the desert and they have never recovered. Wherever the Mongols rode they left an irretrievably ruined economy and wherever they ruled they left a petty, self-important aristocracy and an exploited peasantry.” – James Chambers, The Devil’s Horsemen

The good artist borrows, the best artist stealsThe good artist borrows, the best artist steals

“No one owns anyone’s culture, and that to believe otherwise is to deprive us of the human fullness and richness we all deserve. To reconcile this insight with an equally compelling American truth—that racial injustice is our inheritance and our responsibility—is the challenge for every artist and critic, black or white.” – George Packer, “Race, Art, and Essentialism”

Let not their name be legionLet not their name be legion

“Ought we to make as many friends as possible? Or will the mot juste about hospitality, ‘not too many guests, nor yet none,’ also fit friendship in the sense that a person should neither be friendless nor have an excessive number of friends? The saying would seem to fit exactly those who become friends with a view to their mutual usefulness. To accommodate many people in return for what they have done to us is troublesome, and life is not long enough to do that. Accordingly, more friends than are sufficient for one’s own life are superfluous and are an obstacle to the good life, so that there is no need of them. To give us pleasure a few friends are sufficient.” – Aristotle, Nicomachean Ethics, Book 9, Ch. 10

The crux of the matterThe crux of the matter

“Race was—is—the fundamental American issue, underlying not only all matters of public policy (economic inequality, criminal justice, housing, education) but the very psyche of the nation.” – Nathaniel Rich, “James Baldwin & the Fear of a Nation”

It’s called racismIt’s called racism

“Police killings of unarmed black children, indifference to providing clean drinking water to a majority-black city, or efforts to curtail the voting rights of minority citizens are not freak incidents but outbreaks of a chronic national disease.” – Nathaniel Rich, “James Baldwin & the Fear of a Nation”

Drilling downDrilling down

“If it were in my power to change the mercantile laws of literary society, I could easily spin out my existence writing and rewriting the same story in the hope that I might end up understanding it and making it clear to others.” – Ignazio Silone (quoted by Dorothy Day in The Catholic Worker, January 1968)

We get what we wantWe get what we want

“If we value democracy, if we want to live in a world marked by a vibrant public sphere that can generate the possibilities of hope and human betterment, then we need futures. Without futures, and without serious propositional clashes between different materialized futures, we have no politics, and we have no democracy. We merely have millimetric policy disputes that end up as the technocratic attending to marginally different versions of the status quo.

“We can sense these dangers at the moment when we look at the state of our increasingly illiberal democracies. The problems mount: from climate change to spiraling inequality; from crumbling infrastructure to a surveillance state that has no bounds. Yet, our political culture is fixed and frozen.

“As such, we find ourselves in a culture that can happily spend $250 million dollars per Hollywood movie to create the next sci-fi fantasy but finds it is beyond its imaginative capacities to design superb, sustainable, public housing. We can build fabulously elaborate multiplayer online fantasy games, where gamer avatars can have sex with their elf girlfriends, but providing web platforms that give working people more democratic control over their workplace is a fantasy too far. The potential of self-driving cars or the rise of Artificial Intelligence can be endlessly debated. But the idea that we might be able to regulate our financial institutions is presented as a process as mysterious, dangerous and futile as the attempt to locate Lord Voldermort’s horcruxes.

“Yes, there are future visions still engaged with in mainstream political debate. But what are they: The endless continuation of the neo-liberal present; apocalyptic modes of environmentalism; dystopian fears of the return of the caliphate. We can do much better than that.” – Damian White, “Critical Design and the Critical Social Sciences”

Making the world go ’roundMaking the world go ’round

“Supply is supply, and demand is demand. They will be satisfied, be it with combs, fifes, rubber, whisky, tainted meat, canned peas, sex, or tobacco. For every need there is an entrepreneur, by a marvelous providence. You can find a man to bury your dog, rub your back, teach you Swahili, read your horoscope, murder your competitor. In the megalopolis, all this is possible. There was a Parisian cripple in the days of John Law, the Scottish speculator, who stood in the streets renting out his hump for a writing desk to people who had no convenient place to take their transactions.” – Saul Bellow, Dangling Man

Such is the way of dogsSuch is the way of dogs

“On his way the poor man finds all things against him;
The earth itself closes its doors to him.
You find him hated, though he does no wrong;
You see hostility but not its cause.
At the sight of a rich man you find the dogs
Turning towards him, as they wag their tails,
But if it is a poor wretch whom they see
They come to bark at him and bare their teeth.”

– The Arabian Nights (trans. Lyons, et al.)

Homeless and forlornHomeless and forlorn

“Poverty is exile in one’s native land,
While wealth will make a stranger feel at home.”

– The Arabian Nights (trans. Lyons, et al.)

No alternativeNo alternative

“While facts can be verified or refuted—and we should do so expeditiously and relentlessly—we must also recognize the possibility that more complex truths are often in the eyes of the beholder. This fact of human cognition doesn’t necessarily imply that relativism is correct or desirable; not all truths are equally valid. But because the particular narrative that one adopts can color and influence the subsequent course of inquiry and debate, we should strive at the outset to entertain as many interpretations of the same set of objective facts as we can.” – Andrew W. Lo, “Reading About the Financial Crisis: A 21-Book Review”

Get a move onGet a move on

“Sorrow follows whoever thinks of himself as Time’s favorite.” – The Arabian Nights (trans. Lyons, et al.)

The foundations of universal suffrageThe foundations of universal suffrage

“Toil and hardship together with a lack of means teach a man bad manners and stupidity.” – The Arabian Nights (trans. Lyons, et al.)