Skip to main content

Home/ TOK Friends/ Group items tagged corporations

Rss Feed Group items tagged

Filter: All | Bookmarks | Topics Simple Middle
Emilio Ergueta

7 facts that show the American dream is dead - Salon.com - 0 views

www.salon.com/...american_dream_is_dead_partner

american dream psychology

shared by Emilio Ergueta on 27 Oct 14 - No Cached
  • The public has reached this conclusion for a very simple reason: It’s true. The key elements of the American dream—a living wage, retirement security, the opportunity for one’s children to get ahead in life—are now unreachable for all but the wealthiest among us. And it’s getting worse. As inequality increases, the fundamental elements of the American dream are becoming increasingly unaffordable for the majority.
  • “Not only has the wealth of the very rich doubled since 2000, but corporate revenues are at record levels.” Edsall also observed that, “In 2013, according to Goldman Sachs, corporate profits rose five times faster than wages.”
  • These cost increases, combined with wage stagnation, mean that families are struggling to make ends meet—and that neither parent has the luxury of staying home any longer. In fact, parenthood has become a financial risk. Warren and Tyagi write that “Having a child is now the single best predictor that a woman will end up in financial collapse.” This book was written over a decade ago; things are even worse today.
  • ...7 more annotations...
  • “Over the past 20 years the average increase in spending on some items has exceeded the growth of incomes. The gap is especially poignant for those under 25 years old.”
  • As of 2013, tuition at a private university was projected to cost nearly $130,000 on average over four years, and that’s not counting food, lodging, books, or other expenses.
  • Sure, there are still some scholarships and grants available. But even as college costs rise, the availability of those programs is falling, leaving middle-class and lower-income students further in debt as out-of-pocket costs rise.
  • Even as overall wealth in this country has shifted upward, away from middle-class families, the cost of medical care is increasingly being borne by the families themselves. As the Milliman study shows, the employer-funded portion of healthcare costs has risen 52 percent since 2007, the first year of the recession. But household costs have risen by a staggering 73 percent, or 8 percent per year, and now average $9,144.
  • he financial crisis of 2008, driven by the greed of Wall Street one percenters, robbed most American household of their primary assets. And right-wing “centrists” of both parties, not satisfied with the rising retirement age which has already cut the program’s benefits, continue to press for even deeper cuts to the program.
  • Vacations; an education; staying home to raise your kids; a life without crushing debt; seeing the doctor when you don’t feel well; a chance to retire: one by one, these mainstays of middle-class life are disappearing for most Americans. Until we demand political leadership that will do something about it, they’re not coming back.
  • Can the American dream be restored? Yes, but it will take concerted effort to address two underlying problems. First, we must end the domination of our electoral process by wealthy and powerful elites. At the same time, we must begin to address the problem of growing economic inequality. Without a national movement to call for change, change simply isn’t going to happen.
Javier E

History News Network | An Open Letter to the Harvard Business School Dean Who Gave Hist... - 0 views

historynewsnetwork.org/...161267

business school teaching liberal arts trends economics

shared by Javier E on 03 Dec 15 - No Cached
  • I would like to make some gratuitous curricular and pedagogical suggestions for business schools.
  • Foremost, business schools, at least those that purport to mold leaders, should stop training and start educating. Their graduates should be able to think and problem-solve for themselves, not just copy the latest fad.
  • Business schools generally do not cultivate or even select for general intelligence and breadth of understanding but instead breed shrewdness and encourage narrow technical knowledge.
  • ...8 more annotations...
  • To try to cover up the obvious shortcomings of their profoundly antisocial pedagogical model, many business schools tack on courses in ethics, corporate social responsibility, and the like, then shrug their collective shoulders when their graduates behave in ways that would make Vikings and pirates blush.
  • The only truly socially responsible management curriculum would be one built from the ground up out of the liberal arts – economics, of course, but also history, philosophy, political science, psychology, and sociology – because those are the core disciplines of social scientific and humanistic inquiry.
  • Properly understood, they are not “subjects” but ways of thinking about human beings, their behaviors, their institutions (of which businesses are just a small subset), and the ways they interact with the natural world. Only intelligent people with broad and deep backgrounds in the liberal arts can consistently make ethical decisions that are good for stakeholders, consumers, and the world they share.
  • Precisely because they are not deeply rooted in the liberal arts, many business schools try to inculcate messages into the brains of their students that are unscientific, mere fashions that cycle into and then out of popularity.
  • No one can seriously purport to understand corporate X (finance, formation, governance, social responsibility, etc.) today who does not understand X’s origins and subsequent development. Often, then, the historian of corporate X is the real expert, not the business school professor who did a little consulting, a few interviews, and a survey.
  • Lurking somewhere in the background of most great business leaders, ones who helped their companies, their customers, and the world, is a liberal arts education.
  • Instead of forcing students to choose between a broad liberal arts degree or a business career, business schools and liberal arts departments ought to work together to integrate all methods of knowing into a seamless whole focused on key questions and problems important to us all
  • There is not a single question of importance in the business world that does not have economic, historical, philosophical, political, psychological, and sociological components that are absolutely crucial to making good (right and moral) decisions. So why continue to divide understanding of the real world into hoary compartments
Javier E

Seven Lessons In Economic Leadership From Ancient Egypt - 0 views

www.forbes.com/...-leadership-from-ancient-egypt

economics reform theory financial crisis financial bubble egypt

shared by Javier E on 11 May 18 - No Cached
  • Although there are plenty of grounds for rage against the big banks, the challenge is to sort out which are the activities that grow the real economy of goods and services, and which are the activities that are essentially a zero-sum game of socially useless gambling?
  • The situation today is that the zero-sum games of the financial sector aren’t just a tiny sideshow. They have grown exponentially and have become almost the main game of the financial sector.
  • When finance becomes the end, not the means, then the result is what analyst Gautam Mukunda calls “excessive financialization” of the economy, as his excellent article by “The Price of Wall Street Power” in the June 2014 issue of Harvard Business Review makes clear.
  • ...15 more annotations...
  • Quite apart from the “unbalanced power” of the financial sector, and the tendency of a super-sized financial sector to cause increasingly bad global financial crashes, excessive financialization leads to resources being misallocated. “In many of the financial sector’s segments that have grown fastest since deregulation—like investment banks—the transactions are primarily zero-sum.”
  • However in times of rapid technological transformation like today, the role of the economic priesthood in protecting its own interests can become a massively destabilizing.
  • Thus we know from the history of the last couple of hundred years that in times of rapid technological transformation, the financial sector tends to become disconnected from the real economy
  • This has occurred a number of times in the last few hundred years, including the Canal Mania (England—1790s), the Rail Mania (England—1840s), the Gilded Age (US: 1880s—early 1900s) the Roaring Twenties (US—1920s) and the Big Banks of today.
  • Getting to safety is not made any easier by the fact the modern economic priesthood—the managers of large firms and the banks—has, like their ancient Egyptian forbears, found ways to participate in the casino economy and benefit from “making money out of money”, even as the economy as a whole suffers.  As Upton Sinclair wrote, “It is difficult to get a man to understand something, when his salary depends upon his not understanding it.
  • Just as the ancient Egyptian economic priesthood clung to power as the economy stagnated, so today the economic priesthood shows no signs of relinquishing their gains or their power. The appetite and expectation of extraordinary returns is still there.
  • “Corporate chieftains rationally choose financial engineering—debt-financed share buybacks, for example—over capital investment in property, plants and equipment. Financial markets reward shareholder activism. Institutional investors extend their risk parameters to beat their benchmarks… But real economic growth—averaging just a bit above 2 percent for the fifth year in a row—remains sorely lacking.”
  • As a result, the economy remains in the “Great Stagnation”(Tyler Cowen), also known as “the Secular Stagnation (Larry Summers). It is running on continuing life support from the Federal Reserve. Large enterprises still appear to be profitable. The appearance, though not the reality, of economic well-being has been sufficient to make the stock market soa
  • Just as no change was possible in ancient Egyptian society so long as the economic priesthood colluded to preserve the status quo, so the excesses and prevarications of the Financial Sector will continue so long as the regulators remain its cheerleaders.
  • Just listen to the chair of the Securities and Exchange Commission (SEC), Mary Jo White at Stanford University Rock Center for Corporate Governance speaking to directors. In her speech, she makes no secret of her view that the overall corporate arrangements are sound. The job of the SEC, as outlined in the speech, is to find the odd individual who might be doing something wrong. The idea that the large-scale activities of the major banks might be socially corrosive is not even alluded.
  • Thus in times of transformational technology, there is a huge expansion of investment, driven by the financial sector. Wealthy investors begin to expect outsized returns and so there is over-investment. The resulting bubbles in due course burst
  • Just as in ancient Egypt, no progress was possible so long as the myths and rituals of the economic priesthood and their offerings to the gods were widely accepted as real indicators of what was going on, so today no progress is possible so long as the myths and rituals of the modern economic priesthood still has a pervasive hold of people’s minds
  • In the modern economy, the myths and rituals of the economic priesthood are built on the notion that the purpose of a firm is to maximize shareholder value and the notion that if the share price is increasing, things are going well. These ideas are the intellectual underpinnings of the zero-sum activities of the financial sector for “making money out of money”, by whatever means possible
  • Like the myths and rituals of the priests of ancient Egypt, shareholder value theory is espoused with religious overtones. Shareholder value, which even Jack Welch has called “the dumbest idea in the world,” remains pervasive in business, even though it is responsible for massive offshoring of manufacturing, thereby destroying major segments of the US economy, undermining US capacity to compete in international markets and killing the economic recovery.
  • If instead society decides that the financial sector should concentrate on its socially important function of financing the real economy and providing financial security for an ever wider circle of citizens and enterprises, we could enjoy an era of growth and lasting prosperity.
Javier E

Don't Be Surprised About Facebook and Teen Girls. That's What Facebook Is. | Talking Po... - 0 views

talkingpointsmemo.com/...n-girls-thats-what-facebook-is

facebook instagram algorithm machine learning business model tobacco engagement addiction psychology brain science social media technology

shared by Javier E on 06 Oct 21 - No Cached
  • First, set aside all morality. Let’s say we have a 16 year old girl who’s been doing searches about average weights, whether boys care if a girl is overweight and maybe some diets. She’s also spent some time on a site called AmIFat.com. Now I set you this task. You’re on the other side of the Facebook screen and I want you to get her to click on as many things as possible and spend as much time clicking or reading as possible. Are you going to show her movie reviews? Funny cat videos? Homework tips? Of course, not.
  • If you’re really trying to grab her attention you’re going to show her content about really thin girls, how their thinness has gotten them the attention of boys who turn out to really love them, and more diets
  • We both know what you’d do if you were operating within the goals and structure of the experiment.
  • ...17 more annotations...
  • This is what artificial intelligence and machine learning are. Facebook is a series of algorithms and goals aimed at maximizing engagement with Facebook. That’s why it’s worth hundreds of billions of dollars. It has a vast army of computer scientists and programmers whose job it is to make that machine more efficient.
  • the Facebook engine is designed to scope you out, take a psychographic profile of who you are and then use its data compiled from literally billions of humans to serve you content designed to maximize your engagement with Facebook.
  • Put in those terms, you barely have a chance.
  • Of course, Facebook can come in and say, this is damaging so we’re going to add some code that says don’t show this dieting/fat-shaming content but girls 18 and under. But the algorithms will find other vulnerabilities
  • So what to do? The decision of all the companies, if not all individuals, was just to lie. What else are you going to do? Say we’re closing down our multi-billion dollar company because our product shouldn’t exist?
  • why exactly are you creating a separate group of subroutines that yanks Facebook back when it does what it’s supposed to do particularly well? This, indeed, was how the internal dialog at Facebook developed, as described in the article I read. Basically, other executives said: Our business is engagement, why are we suggesting people log off for a while when they get particularly engaged?
  • what it makes me think about more is the conversations at Tobacco companies 40 or 50 years ago. At a certain point you realize: our product is bad. If used as intended it causes lung cancer, heart disease and various other ailments in a high proportion of the people who use the product. And our business model is based on the fact that the product is chemically addictive. Our product is getting people addicted to tobacco so that they no longer really have a choice over whether to buy it. And then a high proportion of them will die because we’ve succeeded.
  • . The algorithms can be taught to find and address an infinite numbers of behaviors. But really you’re asking the researchers and programmers to create an alternative set of instructions where Instagram (or Facebook, same difference) jumps in and does exactly the opposite of its core mission, which is to drive engagement
  • You can add filters and claim you’re not marketing to kids. But really you’re only ramping back the vast social harm marginally at best. That’s the product. It is what it is.
  • there is definitely an analogy inasmuch as what you’re talking about here aren’t some glitches in the Facebook system. These aren’t some weird unintended consequences that can be ironed out of the product. It’s also in most cases not bad actors within Facebook. It’s what the product is. The product is getting attention and engagement against which advertising is sold
  • How good is the machine learning? Well, trial and error with between 3 and 4 billion humans makes you pretty damn good. That’s the product. It is inherently destructive, though of course the bad outcomes aren’t distributed evenly throughout the human population.
  • The business model is to refine this engagement engine, getting more attention and engagement and selling ads against the engagement. Facebook gets that revenue and the digital roadkill created by the product gets absorbed by the society at large
  • Facebook is like a spectacularly profitable nuclear energy company which is so profitable because it doesn’t build any of the big safety domes and dumps all the radioactive waste into the local river.
  • in the various articles describing internal conversations at Facebook, the shrewder executives and researchers seem to get this. For the company if not every individual they seem to be following the tobacco companies’ lead.
  • Ed. Note: TPM Reader AS wrote in to say I was conflating Facebook and Instagram and sometimes referring to one or the other in a confusing way. This is a fair
  • I spoke of them as the same intentionally. In part I’m talking about Facebook’s corporate ownership. Both sites are owned and run by the same parent corporation and as we saw during yesterday’s outage they are deeply hardwired into each other.
  • the main reason I spoke of them in one breath is that they are fundamentally the same. AS points out that the issues with Instagram are distinct because Facebook has a much older demographic and Facebook is a predominantly visual medium. (Indeed, that’s why Facebook corporate is under such pressure to use Instagram to drive teen and young adult engagement.) But they are fundamentally the same: AI and machine learning to drive engagement. Same same. Just different permutations of the same dynamic.
peterconnelly

Opinion: Budweiser's very smart Super Bowl call - CNN - 0 views

www.cnn.com/...index.html

cnn opinion

shared by peterconnelly on 04 Jun 22 - No Cached
  • This year's Super Bowl will be full of firsts: the first without a packed stadium; the first requiring players and coaches to follow Covid-19 protocol; and the first broadcast in a long time to go without ads from some of its big, perennial advertisers.
  • That is surprising considering the Super Bowl, which typically draws around 100 million viewers
  • has been frequently rated the most-watched broadcast of th
  • ...8 more annotations...
  • Budweiser has also released a 90-second digital ad encouraging people to embrace vaccination.
  • What's even more extraordinary is Anheuser-Busch's decision to scrap its Budweiser Super Bowl ad in favor of supporting the Ad Council and COVID Collaborative's vaccine awareness initiative and donating money to go toward the organizations' future ad campaigns.
  • e year
  • This move by Budweiser is big, and it gives humanitarian organizations like mine hope and optimism.
  • who among the wealthiest corporations will join Budweiser? Which will put a fraction of their profits to push back against urgent and catastrophic events — and potentially save lives?
  • I'll be honest. It is hard for me to have a rosy outlook on companies reporting tens of billions of profits in 2020.
  • I know corporate success helps our economy, rewards innovators and brings job security to middle class workers. But I also know that with investment we can solve hunger. If ordinary American donors can contribute enough to feed a family of five for a month, corporations and those who've done well during the pandemic could do exponentially more.
  • By applying their ad money to public service, Budweiser is not only anticipating a better future -- it is helping make it a reality.
Javier E

Opinion | Elon Musk, Geoff Hinton, and the War Over A.I. - The New York Times - 0 views

www.nytimes.com/...i-safety-ethics-effective.html

ai threat faction technology research language

shared by Javier E on 28 Sep 23 - No Cached
  • Beneath almost all of the testimony, the manifestoes, the blog posts and the public declarations issued about A.I. are battles among deeply divided factions
  • Some are concerned about far-future risks that sound like science fiction.
  • Some are genuinely alarmed by the practical problems that chatbots and deepfake video generators are creating right now.
  • ...31 more annotations...
  • Some are motivated by potential business revenue, others by national security concerns.
  • Sometimes, they trade letters, opinion essays or social threads outlining their positions and attacking others’ in public view. More often, they tout their viewpoints without acknowledging alternatives, leaving the impression that their enlightened perspective is the inevitable lens through which to view A.I.
  • you’ll realize this isn’t really a debate only about A.I. It’s also a contest about control and power, about how resources should be distributed and who should be held accountable.
  • It is critical that we begin to recognize the ideologies driving what we are being told. Resolving the fracas requires us to see through the specter of A.I. to stay true to the humanity of our values.
  • Because language itself is part of their battleground, the different A.I. camps tend not to use the same words to describe their positions
  • One faction describes the dangers posed by A.I. through the framework of safety, another through ethics or integrity, yet another through security and others through economics.
  • The Doomsayers
  • These are the A.I. safety people, and their ranks include the “Godfathers of A.I.,” Geoff Hinton and Yoshua Bengio. For many years, these leading lights battled critics who doubted that a computer could ever mimic capabilities of the human mind
  • Many doomsayers say they are acting rationally, but their hype about hypothetical existential risks amounts to making a misguided bet with our future
  • Reasonable sounding on their face, these ideas can become dangerous if stretched to their logical extremes. A dogmatic long-termer would willingly sacrifice the well-being of people today to stave off a prophesied extinction event like A.I. enslavement.
  • The technology historian David C. Brock calls these fears “wishful worries” — that is, “problems that it would be nice to have, in contrast to the actual agonies of the present.”
  • OpenAI’s Sam Altman and Meta’s Mark Zuckerberg, both of whom lead dominant A.I. companies, are pushing for A.I. regulations that they say will protect us from criminals and terrorists. Such regulations would be expensive to comply with and are likely to preserve the market position of leading A.I. companies while restricting competition from start-ups
  • the roboticist Rodney Brooks has pointed out that we will see the existential risks coming, the dangers will not be sudden and we will have time to change course.
  • While we shouldn’t dismiss the Hollywood nightmare scenarios out of hand, we must balance them with the potential benefits of A.I. and, most important, not allow them to strategically distract from more immediate concerns.
  • The Reformers
  • While the doomsayer faction focuses on the far-off future, its most prominent opponents are focused on the here and now. We agree with this group that there’s plenty already happening to cause concern: Racist policing and legal systems that disproportionately arrest and punish people of color. Sexist labor systems that rate feminine-coded résumés lower
  • Superpower nations automating military interventions as tools of imperialism and, someday, killer robots.
  • Propagators of these A.I. ethics concerns — like Meredith Broussard, Safiya Umoja Noble, Rumman Chowdhury and Cathy O’Neil — have been raising the alarm on inequities coded into A.I. for years. Although we don’t have a census, it’s noticeable that many leaders in this cohort are people of color, women and people who identify as L.G.B.T.Q.
  • Others frame efforts to reform A.I. in terms of integrity, calling for Big Tech to adhere to an oath to consider the benefit of the broader public alongside — or even above — their self-interest. They point to social media companies’ failure to control hate speech or how online misinformation can undermine democratic elections. Adding urgency for this group is that the very companies driving the A.I. revolution have, at times, been eliminating safeguards
  • reformers tend to push back hard against the doomsayers’ focus on the distant future. They want to wrestle the attention of regulators and advocates back toward present-day harms that are exacerbated by A.I. misinformation, surveillance and inequity.
  • Integrity experts call for the development of responsible A.I., for civic education to ensure A.I. literacy and for keeping humans front and center in A.I. systems.
  • Surely, we are a civilization big enough to tackle more than one problem at a time; even those worried that A.I. might kill us in the future should still demand that it not profile and exploit us in the present.
  • Other groups of prognosticators cast the rise of A.I. through the language of competitiveness and national security.
  • Some arguing from this perspective are acting on genuine national security concerns, and others have a simple motivation: money. These perspectives serve the interests of American tech tycoons as well as the government agencies and defense contractors they are intertwined with.
  • they appear deeply invested in the idea that there is no limit to what their creations will be able to accomplish.
  • U.S. megacompanies pleaded to exempt their general purpose A.I. from the tightest regulations, and whether and how to apply high-risk compliance expectations on noncorporate open-source models emerged as a key point of debate. All the while, some of the moguls investing in upstart companies are fighting the regulatory tide. The Inflection AI co-founder Reid Hoffman argued, “The answer to our challenges is not to slow down technology but to accelerate it.”
  • The warriors’ narrative seems to misrepresent that science and engineering are different from what they were during the mid-20th century. A.I. research is fundamentally international; no one country will win a monopoly.
  • As the science-fiction author Ted Chiang has said, fears about the existential risks of A.I. are really fears about the threat of uncontrolled capitalism
  • Regulatory solutions do not need to reinvent the wheel. Instead, we need to double down on the rules that we know limit corporate power. We need to get more serious about establishing good and effective governance on all the issues we lost track of while we were becoming obsessed with A.I., China and the fights picked among robber barons.
  • By analogy to the health care sector, we need an A.I. public option to truly keep A.I. companies in check. A publicly directed A.I. development project would serve to counterbalance for-profit corporate A.I. and help ensure an even playing field for access to the 21st century’s key technology while offering a platform for the ethical development and use of A.I.
  • Also, we should embrace the humanity behind A.I. We can hold founders and corporations accountable by mandating greater A.I. transparency in the development stage, in addition to applying legal standards for actions associated with A.I. Remarkably, this is something that both the left and the right can agree on.
Javier E

The Dark Age Of Journalism « The Dish - 0 views

dish.andrewsullivan.com/...the-dark-age-of-journalism

journalism media industry propaganda information ethics

shared by Javier E on 27 Mar 13 - No Cached
  • Anyone who cares deeply about quality, independent journalism should pray for paywalls and other subscription models to take hold. Because in the world of the smart and the desperate, desperate always has the last word.
  • it matters that the industry that is responsible for the dissemination of information is increasingly ceding editorial control to PR firms simply to stay afloat
  • Democracy is a market in which politicians design policies to get votes. Like any market, it relies on information and signals being reliably transmitted from producer to consumer and vice versa. In a situation where the producer can effectively block the signals that actually their policies are designed simply to siphon wealth from everyone else into the pockets of the rich, what do you think happens to that market? Yep, that’s right, you get a choice between red, blue and yellow versions of producers all with the same agenda.
  • ...1 more annotation...
  • We’ve gone from advertizing supporting journalism to journalism supporting corporate propaganda. At the rate we’re going, as the line between church and state is deliberately blurred by desperate media companies, we may end up with a handful of actual independent online magazines and newspapers and a vast industry of corporate propaganda designed to look like the real thing. If we’re lucky.
Javier E

The right has its own version of political correctness. It's just as stifling. - The Wa... - 0 views

www.washingtonpost.com/...rrectness-its-just-as-stifling

patriotic correctness PC conservative language

shared by Javier E on 08 Dec 16 - No Cached
  • Political correctness has become a major bugaboo of the right in the past decade, a rallying cry against all that has gone wrong with liberalism and America. Conservative writers fill volumes complaining how political correctness stifles free expression and promotes bunk social theories about “power structures” based on patriarchy, race and mass victimhood. Forbes charged that it “stifles freedom of speech.” The Daily Caller has gone so far as to claim that political correctness “kills Americans.”
  • But conservatives have their own, nationalist version of PC, their own set of rules regulating speech, behavior and acceptable opinions. I call it “patriotic correctness.” It’s a full-throated, un-nuanced, uncompromising defense of American nationalism, history and cherry-picked ideals. Central to its thesis is the belief that nothing in America can’t be fixed by more patriotism enforced by public shaming, boycotts and policies to cut out foreign and non-American influences.
  • Insufficient displays of patriotism among the patriotically correct can result in exclusion from public life and ruined careers. It also restricts honest criticism of failed public policies, diverting blame for things like the war in Iraq to those Americans who didn’t support the war effort enough.
  • ...10 more annotations...
  • Complaining about political correctness is patriotically correct. The patriotically correct must use the non-word “illegals,” or “illegal immigrant” or “illegal alien” to describe foreigners who broke our immigration laws. Dissenters support “open borders” or “shamnesty” for 30 million illegal alien invaders. The punishment is deportation because “we’re a nation of laws” and they didn’t “get in line,” even though no such line actually exists. Just remember that they are never anti-immigration, only anti-illegal immigration, even when they want to cut legal immigration.
  • Black Lives Matter is racist because it implies that black lives are more important than other lives, but Blue Lives Matter doesn’t imply that cops’ lives are more important than the rest of ours. Banning Islam or Muslim immigration is a necessary security measure, but homosexuals should not be allowed to get married because it infringes on religious liberty. Transgender people could access women’s restrooms for perverted purposes, but Donald Trump walking in on nude underage girls in dressing rooms before a beauty pageant is just “media bias.”
  • Terrorism is an “existential threat,” even though the chance of being killed in a terrorist attack is about 1 in 3.2 million a year. Saying the words “radical Islam” when describing terrorism is an important incantation necessary to defeat that threat. When Chobani yogurt founder Hamdi Ulukaya decides to employ refugees in his factories, it’s because of his ties to “globalist corporate figures.” Waving a Mexican flag on U.S. soil means you hate America, but waving a Confederate flag just means you’re proud of your heritage.
  • Blaming the liberal or mainstream media and “media bias” is the patriotically correct version of blaming the corporations or capitalism. The patriotically correct notion that they “would rather be governed by the first 2,000 people in the Boston telephone directory than by the 2,000 people on the faculty of Harvard University” because the former have “common sense” and the “intellectual elites” don’t know anything, despite all the evidence to the contrary, can be sustained only in a total bubble.
  • Poor white Americans are the victims of economic dislocation and globalization beyond their control, while poor blacks and Hispanics are poor because of their failed cultures. The patriotically correct are triggered when they hear strangers speaking in a language other than English. Does that remind you of the PC duty to publicly shame those who use unacceptable language to describe race, gender or whatever other identity is the victim du jour?
  • The patriotically correct rightly ridicule PC “safe spaces” but promptly retreat to Breitbart or talk radio, where they can have mutually reinforcing homogeneous temper tantrums while complaining about the lack of intellectual diversity on the left.
  • There is no such thing as too much national security, but it’s liberals who want to coddle Americans with a “nanny state.”
  • Those who disagree with the patriotically correct are animated by anti-Americanism, are post-American, or deserve any other of a long list of clunky and vague labels that signal virtue to other members of the patriotic in-group.
  • Every group has implicit rules against certain opinions, actions and language as well as enforcement mechanisms — and the patriotically correct are no exception. But they are different because they are near-uniformly unaware of how they are hewing to a code of speech and conduct similar to the PC lefties they claim to oppose.
  • The modern form of political correctness on college campuses and the media is social tyranny with manners, while patriotic correctness is tyranny without the manners, and its adherents do not hesitate to use the law to advance their goals.
Javier E

Got Twitter? What's Your Influence Score - NYTimes.com - 1 views

www.nytimes.com/...26rosenbloom.html

social media culture economic benefit costs

shared by Javier E on 26 Jun 11 - No Cached
  • IMAGINE a world in which we are assigned a number that indicates how influential we are. This number would help determine whether you receive a job, a hotel-room upgrade or free samples at the supermarket. If your influence score is low, you don’t get the promotion, the suite or the complimentary cookies.
  • If you have a Facebook, Twitter or LinkedIn account, you are already being judged — or will be soon. Companies with names like Klout, PeerIndex and Twitter Grader are in the process of scoring millions, eventually billions, of people on their level of influence — or in the lingo, rating “influencers.” Yet the companies are not simply looking at the number of followers or friends you’ve amassed. Rather, they are beginning to measure influence in more nuanced ways, and posting their judgments — in the form of a score — online.
  • “Now you are being assigned a number in a very public way, whether you want it or not,”
  • ...7 more annotations...
  • “It’s going to be publicly accessible to the people you date, the people you work for. It’s fast becoming mainstream.”
  • Audi would begin offering promotions to Facebook users based on their Klout score. Last year, Virgin America used the company to offer highly rated influencers in Toronto free round-trip flights to San Francisco or Los Angeles.
  • it’s not enough to attract Twitter followers — you must inspire those followers to take action.
  • focus your digital presence on one or two areas of interest. Don’t be a generalist. Most importantly: be passionate, knowledgeable and trustworthy.
  • As for influence in the offline world — it doesn’t count.
  • Klout “lacks sentiment analysis” — so a user who generates a lot of digital chatter might receive a high score even though what’s being said about the user is negative.
  • we are moving closer to creating “social media caste systems,” where people with high scores get preferential treatment by retailers, prospective employers, even prospective dates.
sissij

There Is No Such Thing as Alternative Medicine | Big Think - 1 views

bigthink.com/...-thing-as-alternative-medicine

alternative medicine science bias

shared by sissij on 28 Feb 17 - No Cached
  • Unfortunately for Hahnemann his philosophy—the less of an active ingredient remains the more powerful a remedy is (once you reach 13c on the homeopathic scale there is no longer any active ingredient left)—is nonsense.
  • This does not stop the irrational stream of unproven (or disproven) therapies arising from the holistic and wellness sphere.
  • Distrust in one doctor should not imply blind faith in another.
  • ...3 more annotations...
  • Yet a growing suspicion of corporate and political interests in the sixties inspired a new wave of holism that’s gaining strength a half-century later. We’re right to be wary of corporate agendas and political mismanagement when it comes to healthcare.
  • The reality is the most basic advice—move often and diversely; eat a balanced, whole foods diet—is boring in an age of immediate gratification.
  • The alternative is suffering, something many companies and hucksters willfully champion at a time when we can all use less of it.
  • sissij on 28 Feb 17
     
    People have been searching for more powerful and more efficient medicines. All sorts of weird ideas pop up as people try out different possibilities. Although people believe in science today, they are still willing to try out different things. Alternative medicine is where people like to spend their money on. When it comes to health, people are likely to be superstitious. Many people don't go to the doctors until the last minute. They tends to rely more on their own senses and perception when it comes to their life. I think it's because going to doctor is like trusting another person with your life, which is very hard for people. Seeking for alternative medicine give people a feeling that they can avoid the doctors. Like the medicine of eternity back in time, the alternative medicine today uses the same flaws in our reasoning. --Sissi (2/28/2017)
Javier E

Big Data Troves Stay Forbidden to Social Scientists - NYTimes.com - 0 views

www.nytimes.com/...dden-to-social-scientists.html

science data transparency verification research process

shared by Javier E on 02 Jun 12 - Cached
  • When scientists publish their research, they also make the underlying data available so the results can be verified by other scientists.
  • lately social scientists have come up against an exception that is, true to its name, huge. It is “big data,” the vast sets of information gathered by researchers at companies like Facebook, Google and Microsoft from patterns of cellphone calls, text messages and Internet clicks by millions of users around the world. Companies often refuse to make such information public, sometimes for competitive reasons and sometimes to protect customers’ privacy. But to many scientists, the practice is an invitation to bad science, secrecy and even potential fraud.
  • corporate control of data could give preferential access to an elite group of scientists at the largest corporations.
  • ...2 more annotations...
  • “In the Internet era,” said Andreas Weigend, a physicist and former chief scientist at Amazon, “research has moved out of the universities to the Googles, Amazons and Facebooks of the world.”
  • A recent review found that 44 of 50 leading scientific journals instructed their authors on sharing data but that fewer than 30 percent of the papers they published fully adhered to the instructions. A 2008 review of sharing requirements for genetics data found that 40 of 70 journals surveyed had policies, and that 17 of those were “weak.”
julia rhodes

Why Seven African Nations Joined Anti-Monsanto Protests Last Weekend | ThinkProgress - 0 views

thinkprogress.org/...es-join-anti-monsanto-protests

african nations protests technology science research education

shared by julia rhodes on 28 Oct 13 - No Cached
  • One of the company’s most compelling arguments for its quest to spread GMOs is that Monsanto products are the solution to world hunger
  • The company’s defenders claim that opposing GMOs is a luxury of Western privilege that denies developing countries vital resources to feed impoverished communities
  • According to Food Sovereignty Ghana, seven African countries held anti-Monsanto rallies on Saturday
  • ...9 more annotations...
  • “GMO will make Ghanaian farmers poor” and “Our Food Under Our Control!!!”
  • Monsanto is also part of the New Alliance for Food Security and Nutrition, a group of private corporations tasked by the G8 to invest in solutions to African hunger over the next decade.
  • Hating Monsanto is “a luxury when you’re surrounded by food 24/7,” writes one defender, who argues that spreading negative sentiment against the company actually “impedes global economic growth.” Even Britain’s Environmental Secretary, Owen Paterson, said organizations fighting the spread of GMOs are “absolutely wicked” and “cast a dark shadow over attempts to feed the world.”
  • But African farmers also have very legitimate concerns about Monsanto’s reputation for investigating, suing, and ruining farmers who try to save GM seeds.
  • ood Sovereignty Ghana warns against the “control of our resources by multinational corporations and other foreign entities,” and the “avaricious calculations behind the proposition that food is just another commodity or component for international agribusiness.”
  • they call for “collective control over our collective resources.”
  • ontroversial GM golden rice, which is supposed to pump up Vitamin A levels in regular rice to make it more nutritious, could well be a promising use of technology
  • However, golden rice is still mainly theoretical after a decade of research.
  • hunger is not caused by a food shortage but by “a lack of purchasing power and/or the inability of the rural poor to be self-sufficient.”
  • julia rhodes on 28 Oct 13
     
    Who has the right to decide liberties, farmers or NGOs?
Javier E

Guess Who Doesn't Fit In at Work - NYTimes.com - 0 views

www.nytimes.com/...who-doesnt-fit-in-at-work.html

recruiting hiring psychology job fitness culture values discrimination diversity bias

shared by Javier E on 02 Jun 15 - No Cached
  • ACROSS cultures and industries, managers strongly prize “cultural fit” — the idea that the best employees are like-minded.
  • One recent survey found that more than 80 percent of employers worldwide named cultural fit as a top hiring priority.
  • When done carefully, selecting new workers this way can make organizations more productive and profitable.
  • ...18 more annotations...
  • In the process, fit has become a catchall used to justify hiring people who are similar to decision makers and rejecting people who are not.
  • The concept of fit first gained traction in the 1980s. The original idea was that if companies hired individuals whose personalities and values — and not just their skills — meshed with an organization’s strategy, workers would feel more attached to their jobs, work harder and stay longer.
  • in many organizations, fit has gone rogue. I saw this firsthand while researching the hiring practices of the country’s top investment banks, management consultancies and law firms. I interviewed 120 decision makers and spent nine months observing
  • While résumés (and connections) influenced which applicants made it into the interview room, interviewers’ perceptions of fit strongly shaped who walked out with job offers.
  • Crucially, though, for these gatekeepers, fit was not about a match with organizational values. It was about personal fit. In these time- and team-intensive jobs, professionals at all levels of seniority reported wanting to hire people with whom they enjoyed hanging out and could foresee developing close relationships with
  • To judge fit, interviewers commonly relied on chemistry. “
  • Many used the “airport test.” As a managing director at an investment bank put it, “Would I want to be stuck in an airport in Minneapolis in a snowstorm with them?”
  • interviewers were primarily interested in new hires whose hobbies, hometowns and biographies matched their own. Bonding over rowing college crew, getting certified in scuba, sipping single-malt Scotches in the Highlands or dining at Michelin-starred restaurants was evidence of fit; sharing a love of teamwork or a passion for pleasing clients was not
  • it has become a common feature of American corporate culture. Employers routinely ask job applicants about their hobbies and what they like to do for fun, while a complementary self-help industry informs white-collar job seekers that chemistry, not qualifications, will win them an offer.
  • Selection based on personal fit can keep demographic and cultural diversity low
  • In the elite firms I studied, the types of shared experiences associated with fit typically required large investments of time and money.
  • Class-biased definitions of fit are one reason investment banks, management consulting firms and law firms are dominated by people from the highest socioeconomic backgrounds
  • Also, whether the industry is finance, high-tech or fashion, a good fit in most American corporations still tends to be stereotypically masculine.
  • Perhaps most important, it is easy to mistake rapport for skill. Just as they erroneously believe that they can accurately tell when someone is lying, people tend to be overly confident in their ability to spot talent. Unstructured interviews, which are the most popular hiring tools for American managers and the primary way they judge fit, are notoriously poor predictors of job performance.
  • Organizations that use cultural fit for competitive advantage tend to favor concrete tools like surveys and structured interviews that systematically test behaviors associated with increased performance and employee retention.
  • For managers who want to use cultural fit in a more productive way, I have several suggestions.
  • First, communicate a clear and consistent idea of what the organization’s culture is (and is not) to potential employees. Second, make sure the definition of cultural fit is closely aligned with business goals. Ideally, fit should be based on data-driven analysis of what types of values, traits and behaviors actually predict on-the-job success. Third, create formal procedures like checklists for measuring fit, so that assessment is not left up to the eyes (and extracurriculars) of the beholder.
  • But cultural fit has become a new form of discrimination that keeps demographic and cultural diversity down
Javier E

Data-Driven Decisions Can Aid Companies' Productivity - NYTimes.com - 0 views

www.nytimes.com/...24unboxed.html

economic economic benefit digital computers decision-making corporations

shared by Javier E on 25 Apr 11 - No Cached
  • the data explosion is also an enormous opportunity. In a modern economy, information should be the prime asset — the raw material of new products and services, smarter decisions, competitive advantage for companies, and greater growth and productivity.
  • Is there any real evidence of a “data payoff” across the corporate world? It has taken a while, but new research led by Erik Brynjolfsson, an economist at the Sloan School of Management at the Massachusetts Institute of Technology, suggests that the beginnings are now visible.
  • studied 179 large companies. Those that adopted “data-driven decision making” achieved productivity that was 5 to 6 percent higher than could be explained by other factors, including how much the companies invested in technology, the researchers said.
  • ...3 more annotations...
  • In the study, based on a survey and follow-up interviews, data-driven decision making was defined not only by collecting data, but also by how it is used — or not — in making crucial decisions, like whether to create a new product or service. The central distinction, according to Mr. Brynjolfsson, is between decisions based mainly on “data and analysis” and on the traditional management arts of “experience and intuition.”
  • The technology absorption lag accounts for the delayed productivity benefits, observes Robert J. Gordon, an economist at Northwestern University. “It’s never pure technology that makes the difference,” Mr. Gordon says. “It’s reorganizing things — how work is done. And technology does allow new forms of organization.”
  • The Internet, according to Mr. Gordon, qualifies as the third industrial revolution — but one that will prove far more short-lived than the previous two. “I think we’re seeing hints that we’re running through inventions of the Internet revolution,” he says.
Javier E

G.M. Lawyers Hid Fatal Flaw, From Critics and One Another - NYTimes.com - 0 views

www.nytimes.com/...m-critics-and-one-another.html

corporations morality legal obligation

shared by Javier E on 07 Jun 14 - No Cached
  • An internal investigation released on Thursday into the company’s failure to recall millions of defective small cars found no evidence of a cover-up. But interviews with victims, their lawyers and current and former G.M. employees, as well as evidence in the report itself, paint a more complete picture: The automaker’s legal department took actions that obscured the deadly flaw, both inside and outside the company.
  • “That says to me that the G.M. lawyers were involved in keeping the ignition failure secret case by case,” said Mr. Zitrin, who has helped draft new federal legislation that would make it difficult for corporations to enter into confidential settlements.
  • The secrecy factor extended to how some employees kept or discarded old emails. According to two former G.M. officials, company lawyers conducted annual audits of some employees’ emails that could be used as evidence in lawsuits against the company.
Adam Clark

Guerilla Artists Just Pulled Off The Largest Advertising Takeover In World History | Tr... - 0 views

www.trueactivist.com/sing-takeover-in-world-history

ethics Advertising films Presentation

shared by Adam Clark on 04 Mar 15 - No Cached
  • Adam Clark on 04 Mar 15
     
    "Brandalism returns with the largest advertising takeover in world history. Over 2 days teams of guerilla artists emerged from the shadows to takeover 365 corporate advertising spaces in 10 UK cities. The project saw hand-made artworks from 40 international artists installed in public spaces across the UK."
Javier E

Establishment Populism Rising - NYTimes.com - 0 views

www.nytimes.com/...blishment-populism-rising.html

economics social science theory populism jobs income inequality

shared by Javier E on 04 Mar 15 - No Cached
  • If we had the same income distribution in the United States that we did in 1979, the top 1 percent would have $1 trillion less today [in annual income], and the bottom 80 percent would have $1 trillion more. That works out to about $700,000 [a year for] for a family in the top 1 percent, and works out to about $11,000 a year for a family in the bottom 80 percent.
  • The lion’s share of the income of the top 1 percent is concentrated in the top 0.1 percent and 0.01 percent. The average income of the top 1 percent in 2013, according to data provided by Emmanuel Saez, a Berkeley economist, was $1.2 million, for the top 0.1 percent, $5.3 million, and for the top 0.01 percent, $24.9 million.
  • In other words, any attempt to correct the contemporary pattern in income distribution would require large and controversial changes in tax policy, regulation of the workplace, and intervention in the economy to expand employment and to raise wages.
  • ...14 more annotations...
  • To counter the weak employment market, Summers called for major growth in government expenditures to fill needs that the private sector is not addressing:In our society, whether it is taking care of the young or taking care of the old, or repairing a lot that needs to be repaired, there is a huge amount of very valuable work that needs to be done. It’s much less clear, to use a modern phrase, that there’s a viable business model for getting it done. And I guess the reason why I think there is going to need to be a lot of reflection on the role of government going forward is that, if I’m right, that there’s vitally important work to be done for which there is no standard capital business model that will get it done. That suggests important roles for public policy.
  • the report calls for tax and regulatory policies to encourage employee ownership, the strengthening of collective bargaining rights, regulations requiring corporations to provide fringe benefits to employees working for subcontractors, a substantial increase in the minimum wage, sharper overtime pay enforcement, and a huge increase in infrastructure appropriations – for roads, bridges, ports, schools – to spur job creation and tighten the labor market.
  • Summers also calls for significant increases in the progressivity of the United States tax system.
  • He advocates aggressive steps to eliminate “rents” — profits that result from monopoly or other forms of government protection from competition. Summers favors attacking rents in the form of “exclusionary zoning practices” that bid up the price of housing, “excessively long copyright” protections, and financial regulations “providing implicit subsidies to a fortunate minority.”
  • Signaling that he now finds himself on common ground with stalwarts of the Democratic left like Elizabeth Warren and Joe Stiglitz, Summers adds, “Government needs to try to make sure everyone can get access to financial markets on an equal basis.”
  • Summers supports looking past income inequality to the distribution of wealth. During our conversation, he pointed out that “a large fraction of capital gains escapes taxation entirely” through “the stepped up basis at death.”
  • The idea that an economy could suffer from a persistent shortage of demand is an enormous switch for Summers or anyone who had been adhering to the economic orthodoxy in the three decades prior to the crisisin 2008. Baker goes on to argue that Summers “now recognizes that the financial system needs serious regulation.”
  • Many of the policies outlined by Summers — especially on trade, taxation, financial regulation and worker empowerment — are the very policies that divide the Wall-Street-corporate wing from the working-to-middle-class wing of the Democratic Party. Put another way, these policies divide the money wing from the voting wing.
  • Summers has forced out in the open a set of choices that Hillary Clinton has so far avoided, choices that even if she attempts to elide them will amount to a signal of where her loyalties lie.
  • “The core problem,” according to Summers, is thatthere aren’t enough jobs, and if you help some people, you can help them get the jobs, but then someone else won’t get the jobs. And unless you’re doing things that are affecting the demand for jobs, you’re helping people win a race to get a finite number of jobs, and there are only so many of them.
  • he is “all for” more schooling and job training, but as an answer to the problems of the job marketplace, “it is fundamentally an evasion.”
  • Summers’s analysis of current economic conditions suggests that free market capitalism, as now structured, is producing major distortions. These distortions, in his view, have resulted in gains of $1 trillion annually to those at the top of the pyramid, and losses of $1 trillion every year to those in the bottom 80 percent.
  • Summers’s ascendance is a reflection of the abandonment by much of the party establishment of neo-liberal thinking, premised on the belief that unregulated markets and global trade would produce growth beneficial to worker and C.E.O. alike.
  • Larry Summers, who withdrew his candidacy for the chairmanship of the Federal Reserve under pressure from the liberal wing of the Democratic Party in 2013, has emerged as the party’s dominant economic policy strategist. The former Treasury secretary’s evolving message has won over many of his former critics.
Adam Clark

Proof he's the Science Guy: Bill Nye is changing his mind about GMOs - The Washington Post - 0 views

www.washingtonpost.com/...s-changing-his-mind-about-gmos

GMOs

shared by Adam Clark on 06 Mar 15 - No Cached
  • Adam Clark on 06 Mar 15
     
    Nye's sudden about-face on GMOs might strike some people as suspicious, especially since it came after he visited a corporation that many food and environmental activists detest and that has practically become synonymous with GMOs. But Nye is telling us that, irrespective of the corporation's business practices, he changed his mind after learning more about the science. Is he right?
Javier E

Economics of Good and Evil: The Quest for Economic Meaning from Gilgamesh to Wall Stree... - 1 views

DIIGO_FILE_HOME/7ui9/74ec4c99e72deda4a64da10692a15bf6

economics history literature good evil theory philosophy philosophers Bible Gilgamesh Adam Smith

shared by Javier E on 15 Aug 19 - No Cached
  • Instead of self-confident and self-centered answers, the author humbly asks fundamental questions: What is economics? What is its meaning? Where does this new religion, as it is sometimes called, come from? What are its possibilities and its limitations and borders, if there are any? Why are we so dependent on permanent growing of growth and growth of growing of growth? Where did the idea of progress come from, and where is it leading us? Why are so many economic debates accompanied by obsession and fanaticism?
  • The majority of our political parties act with a narrow materialistic focus when, in their programs, they present the economy and finance first; only then, somewhere at the end, do we find culture as something pasted on or as a libation for a couple of madmen.
  • most of them—consciously or unconsciously—accept and spread the Marxist thesis of the economic base and the spiritual superstructure.
  • ...297 more annotations...
  • He tries to break free of narrow specialization and cross the boundaries between scientific disciplines. Expeditions beyond economics’ borders and its connection to history, philosophy, psychology, and ancient myths are not only refreshing, but necessary for understanding the world of the twenty-first century.
  • Reality is spun from stories, not from material. Zdeněk Neubauer
  • Before it was emancipated as a field, economics lived happily within subsets of philosophy—ethics, for example—miles away from today’s concept of economics as a mathematical-allocative science that views “soft sciences” with a scorn born from positivistic arrogance. But our thousand-year “education” is built on a deeper, broader, and oftentimes more solid base. It is worth knowing about.
  • Outside of our history, we have nothing more.
  • The study of the history of a certain field is not, as is commonly held, a useless display of its blind alleys or a collection of the field’s trials and errors (until we got it right), but history is the fullest possible scope of study of a menu that the given field can offer.
  • History of thought helps us to get rid of the intellectual brainwashing of the age, to see through the intellectual fashion of the day, and to take a couple of steps back.
  • “The separation between the history of a science, its philosophy, and the science itself dissolves into thin air, and so does the separation between science and non-science; differences between the scientific and unscientific are vanishing.”
  • we seek to chart the development of the economic ethos. We ask questions that come before any economic thinking can begin—both philosophically and, to a degree, historically. The area here lies at the very borders of economics—and often beyond. We may refer to this as protoeconomics (to borrow a term from protosociology) or, perhaps more fittingly, metaeconomics (to borrow a term from metaphysics).
  • stories; Adam Smith believed. As he puts it in The Theory of Moral Sentiments, “the desire of being believed, or the desire of persuading, of leading and directing other people, seems to be one of the strongest of all our natural desires.”
  • “The human mind is built to think in terms of narratives … in turn, much of human motivation comes from living through a story of our lives, a story that we tell to ourselves and that creates a framework of our motivation. Life could be just ‘one damn thing after another’ if it weren’t for such stories. The same is true for confidence in a nation, a company, or an institution. Great leaders are foremost creators of stories.”
  • contrary to what our textbooks say, economics is predominantly a normative field. Economics not only describes the world but is frequently about how the world should be (it should be effective, we have an ideal of perfect competition, an ideal of high-GDP growth in low inflation, the effort to achieve high competitiveness …). To this end, we create models, modern parables,
  • I will try to show that mathematics, models, equations, and statistics are just the tip of the iceberg of economics; that the biggest part of the iceberg of economic knowledge consists of everything else; and that disputes in economics are rather a battle of stories and various metanarratives than anything else.
  • That is the reason for this book: to look for economic thought in ancient myths and, vice versa, to look for myths in today’s economics.
  • is a paradox that a field that primarily studies values wants to be value-free. One more paradox is this: A field that believes in the invisible hand of the market wants to be without mysteries.
  • Almost all of the key concepts by which economics operates, both consciously and unconsciously, have a long history, and their roots extend predominantly outside the range of economics, and often completely beyond that of science.
  • The History of Animal Spirits: Dreams Never Sleep
  • In this sense, “the study of economics is too narrow and too fragmentary to lead to valid insight, unless complemented and completed by a study of metaeconomics.”17
  • The more important elements of a culture or field of inquiry such as economics are found in fundamental assumptions that adherents of all the various systems within the epoch unconsciously presuppose. Such assumptions appear so obvious that people do not know what they are assuming, because no other way of putting things has ever occurred to them, as the philosopher Alfred Whitehead notes in Adventures of Ideas.
  • I argue that economic questions were with mankind long before Adam Smith. I argue that the search for values in economics did not start with Adam Smith but culminated with him.
  • We should go beyond economics and study what beliefs are “behind the scenes,” ideas that have often become the dominant yet unspoken assumptions in our theories. Economics is surprisingly full of tautologies that economists are predominantly unaware of. I
  • argue that economics should seek, discover, and talk about its own values, although we have been taught that economics is a value-free science. I argue that none of this is true and that there is more religion, myth, and archetype in economics than there is mathematics.
  • In a way, this is a study of the evolution of both homo economicus and, more importantly, the history of the animal spirits within him. This book tries to study the evolution of the rational as well as the emotional and irrational side of human beings.
  • I argue that his most influential contribution to economics was ethical. His other thoughts had been clearly expressed long before him, whether on specialization, or on the principle of the invisible hand of the market. I try to show that the principle of the invisible hand of the market is much more ancient and developed long before Adam Smith. Traces of it appear even in the Epic of Gilgamesh, Hebrew thought, and in Christianity, and it is expressly stated by Aristophanes and Thomas Aquinas.
  • This is not a book on the thorough history of economic thought. The author aims instead to supplement certain chapters on the history of economic thought with a broader perspective and analysis of the influences that often escape the notice of economists and the wider public.
  • Progress (Naturalness and Civilization)
  • The Economy of Good and Evil
  • from his beginnings, man has been marked as a naturally unnatural creature, who for unique reasons surrounds himself with external possessions. Insatiability, both material and spiritual, are basic human metacharacteristics, which appear as early as the oldest myths and stories.
  • the Hebrews, with linear time, and later the Christians gave us the ideal (or amplified the Hebrew ideal) we now embrace. Then the classical economists secularized progress. How did we come to today’s progression of progress, and growth for growth’s sake?
  • The Need for Greed: The History of Consumption and Labor
  • Metamathematics From where did economics get the concept of numbers as the very foundation of the world?
  • mathematics at the core of economics, or is it just the icing of the cake, the tip of the iceberg of our field’s inquiry?
  • idea that we can manage to utilize our natural egoism, and that this evil is good for something, is an ancient philosophical and mythical concept. We will also look into the development of the ethos of homo economicus, the birth of “economic man.”
  • All of economics is, in the end, economics of good and evil. It is the telling of stories by people of people to people. Even the most sophisticated mathematical model is, de facto, a story, a parable, our effort to (rationally) grasp the world around us.
  • Masters of the Truth
  • Originally, truth was a domain of poems and stories, but today we perceive truth as something much more scientific, mathematical. Where does one go (to shop) for the truth? And who “has the truth” in our epoch?
  • Our animal spirits (something of a counterpart to rationality) are influenced by the archetype of the hero and our concept of what is good.
  • The entire history of ethics has been ruled by an effort to create a formula for the ethical rules of behavior. In the final chapter we will show the tautology of Max Utility, and we will discuss the concept of Max Good.
  • The History of the Invisible Hand of the Market and Homo Economicus
  • We understand “economics” to mean a broader field than just the production, distribution, and consumption of goods and services. We consider economics to be the study of human relations that are sometimes expressible in numbers, a study that deals with tradables, but one that also deals with nontradables (friendship, freedom, efficiency, growth).
  • When we mention economics in this book, we mean the mainstream perception of it, perhaps as best represented by Paul Samuelson.
  • By the term homo economicus, we mean the primary concept of economic anthropology. It comes from the concept of a rational individual, who, led by narrowly egotistical motives, sets out to maximize his benefit.
  • the Epic of Gilgamesh bears witness to the opposite—despite the fact that the first written clay fragments (such as notes and bookkeeping) of our ancestors may have been about business and war, the first written story is mainly about great friendship and adventure.
  • there is no mention of either money or war; for example, not once does anyone in the whole epic sell or purchase something.5 No nation conquers another, and we do not encounter a mention even of the threat of violence.
  • is a story of nature and civilization, of heroism, defiance, and the battle against the gods, and evil; an epic about wisdom, immortality, and also futility.
  • Gilgamesh becomes a hero not only due to his strength, but also due to discoveries and deeds whose importance were in large part economic—direct gaining of construction materials in the case of felling the cedar forest, stopping Enkidu from devastating Uruk’s economy, and discovering new desert routes during his expeditions.
  • Even today, we often consider the domain of humanity (human relations, love, friendship, beauty, art, etc.) to be unproductive;
  • Even today we live in Gilgamesh’s vision that human relations—and therefore humanity itself—are a disturbance to work and efficiency; that people would perform better if they did not “waste” their time and energy on nonproductive things.
  • But it is in friendship where—often by-the-way, as a side product, an externality—ideas and deeds are frequently performed or created that together can altogether change the face of society.19 Friendship can go against an ingrained system in places where an individual does not have the courage to do so himself or herself.
  • As Joseph Stiglitz says, One of the great “tricks” (some say “insights”) of neoclassical economics is to treat labour like any other factor of production. Output is written as a function of inputs—steel, machines, and labour. The mathematics treats labour like any other commodity, lulling one into thinking of labour like an ordinary commodity, such as steel or plastic.
  • Even the earliest cultures were aware of the value of cooperation on the working level—today we call this collegiality, fellowship, or, if you want to use a desecrated term, comradeship. These “lesser relationships” are useful and necessary for society and for companies because work can be done much faster and more effectively if people get along with each other on a human level
  • But true friendship, which becomes one of the central themes of the Epic of Gilgamesh, comes from completely different material than teamwork. Friendship, as C. S. Lewis accurately describes it, is completely uneconomical, unbiological, unnecessary for civilization, and an unneeded relationship
  • Here we have a beautiful example of the power of friendship, one that knows how to transform (or break down) a system and change a person. Enkidu, sent to Gilgamesh as a punishment from the gods, in the end becomes his faithful friend, and together they set out against the gods. Gilgamesh would never have gathered the courage to do something like that on his own—nor would Enkidu.
  • Due to their friendship, Gilgamesh and Enkidu then intend to stand up to the gods themselves and turn a holy tree into mere (construction) material they can handle almost freely, thereby making it a part of the city-construct, part of the building material of civilization, thus “enslaving” that which originally was part of wild nature. This is a beautiful proto-example of the shifting of the borders between the sacred and profane (secular)—and to a certain extent also an early illustration of the idea that nature is there to provide cities and people with raw material and production resources.
  • started with Babylonians—rural nature becomes just a supplier of raw materials, resources (and humans the source of human resources). Nature is not the garden in which humans were created and placed, which they should care for and which they should reside in, but becomes a mere reservoir for natural (re)sources.
  • But labour is unlike any other commodity. The work environment is of no concern for steel; we do not care about steel’s well-being.16
  • Both heroes change—each from opposite poles—into humans. In this context, a psychological dimension to the story may be useful: “Enkidu (…) is Gilgamesh’s alter ego, the dark, animal side of his soul, the complement to his restless heart. When Gilgamesh found Enkidu, he changed from a hated tyrant into the protector of his city. (…)
  • To be human seems to be somewhere in between, or both of these two. We
  • this moment of rebirth from an animal to a human state, the world’s oldest preserved epic implicitly hints at something highly important. Here we see what early cultures considered the beginning of civilization. Here is depicted the difference between people and animals or, better, savages. Here the epic quietly describes birth, the awakening of a conscious, civilized human. We are witnesses to the emancipation of humanity from animals,
  • The entire history of culture is dominated by an effort to become as independent as possible from the whims of nature.39 The more developed a civilization is, the more an individual is protected from nature and natural influences and knows how to create around him a constant or controllable environment to his liking.
  • The price we pay for independence from the whims of nature is dependence on our societies and civilizations. The more sophisticated a given society is as a whole, the less its members are able to survive on their own as individuals, without society.
  • The epic captures one of the greatest leaps in the development of the division of labor. Uruk itself is one of the oldest cities of all, and in the epic it reflects a historic step forward in specialization—in the direction of a new social city arrangement. Because of the city wall, people in the city can devote themselves to things other than worrying about their own safety, and they can continue to specialize more deeply.
  • Human life in the city gains a new dimension and suddenly it seems more natural to take up issues going beyond the life span of an individual. “The city wall symbolizes as well as founds the permanence of the city as an institution which will remain forever and give its inhabitants the certainty of unlimited safety, allowing them to start investing with an outlook reaching far beyond the borders of individual life.
  • The wall around the city of Uruk is, among other things, a symbol of an internal distancing from nature, a symbol of revolts against submission to laws that do not come under the control of man and that man can at most discover and use to his benefit.
  • “The chief thing which the common-sense individual wants is not satisfactions for the wants he had, but more, and better wants.”47
  • If a consumer buys something, theoretically it should rid him of one of his needs—and the aggregate of things they need should be decreased by one item. In reality, though, the aggregate of “I want to have” expands together with the growing aggregate of “I have.”
  • can be said that Enkidu was therefore happy in his natural state, because all of his needs were satiated. On the other hand, with people, it appears that the more a person has, the more developed and richer, the greater the number of his needs (including the unsaturated ones).
  • the Old Testament, this relationship is perceived completely differently. Man (humanity) is created in nature, in a garden. Man was supposed to care for the Garden of Eden and live in harmony with nature and the animals. Soon after creation, man walks naked and is not ashamed, de facto the same as the animals. What is characteristic is that man dresses (the natural state of creation itself is not enough for him), and he (literally and figuratively) covers52 himself—in shame after the fall.53
  • Nature is where one goes to hunt, collect crops, or gather the harvest. It is perceived as the saturator of our needs and nothing more. One goes back to the city to sleep and be “human.” On the contrary, evil resides in nature. Humbaba lives in the cedar forest, which also happens to be the reason to completely eradicate it.
  • Symbolically, then, we can view the entire issue from the standpoint of the epic in the following way: Our nature is insufficient, bad, evil, and good (humane) occurs only after emancipation from nature (from naturalness), through culturing and education. Humanity is considered as being in civilization.
  • The city was frequently (at least in older Jewish writings) a symbol of sin, degeneration, and decadence—nonhumanity. The Hebrews were originally a nomadic nation, one that avoided cities. It is no accident that the first important city57 mentioned in the Bible is proud Babylon,58 which God later turns to dust.
  • is enough, for example, to read the Book of Revelation to see how the vision of paradise developed from the deep Old Testament period, when paradise was a garden. John describes his vision of heaven as a city—paradise is in New Jerusalem, a city where the dimensions of the walls(!) are described in detail, as are the golden streets and gates of pearl.
  • Hebrews later also chose a king (despite the unanimous opposition of God’s prophets) and settled in cities, where they eventually founded the Lord’s Tabernacle and built a temple for Him. The city of Jerusalem later gained an illustrious position in all of religion.
  • this time Christianity (as well as the influence of the Greeks) does not consider human naturalness to be an unambiguous good, and it does not have such an idyllic relationship to nature as the Old Testament prophets.
  • If a tendency toward good is not naturally endowed in people, it must be imputed from above through violence or at least the threat of violence.
  • If we were to look at human naturalness as a good, then collective social actions need a much weaker ruling hand. If people themselves have a natural tendency (propensity) toward good, this role does not have to be supplied by the state, ruler, or, if you wish, Leviathan.
  • How does this affect economics?
  • us return for the last time to the humanization of the wild Enkidu, which is a process we can perceive with a bit of imagination as the first seed of the principle of the market’s invisible hand, and therefore the parallels with one of the central schematics of economic thinking.
  • Sometimes it is better to “harness the devil to the plow” than to fight with him. Instead of summoning up enormous energy in the fight against evil, it is better to use its own energy to reach a goal we desire; setting up a mill on the turbulent river instead of futile efforts to remove the current. This is also how Saint Prokop approached it in one of the oldest Czech legends.
  • Enkidu caused damage and it was impossible to fight against him. But with the help of a trap, trick, this evil was transformed into something that greatly benefited civilization.
  • By culturing and “domesticating” Enkidu, humanity tamed the uncontrollable wild and chaotic evil
  • Enkidu devastated the doings (the external, outside-the-walls) of the city. But he was later harnessed and fights at the side of civilization against nature, naturalness, the natural state of things.
  • A similar motif appears a thousand years after the reversal, which is well known even to noneconomists as the central idea of economics: the invisible hand of the market.
  • A similar story (reforming something animally wild and uncultivated in civilizational achievement) is used by Thomas Aquinas in his teachings. Several centuries later, this idea is fully emancipated in the hands of Bernard Mandeville and his Fable of the Bees: or, Private Vices, Publick Benefits. The economic and political aspects of this idea are—often incorrectly—ascribed to Adam Smith.
  • Here the individual does not try anymore to maximize his goods or profits, but what is important is writing his name in human memory in the form of heroic acts or deeds.
  • immortality, one connected with letters and the cult of the word: A name and especially a written name survives the body.”77
  • After this disappointment, he comes to the edge of the sea, where the innkeeper Siduri lives. As tonic for his sorrow, she offers him the garden of bliss, a sort of hedonistic fortress of carpe diem, where a person comes to terms with his mortality and at least in the course of the end of his life maximizes earthly pleasures, or earthly utility.
  • In the second stage, after finding his friend Enkidu, Gilgamesh abandons the wall and sets out beyond the city to maximalize heroism. “In his (…) search of immortal life, Gilgamesh
  • The hero refuses hedonism in the sense of maximizing terrestrial pleasure and throws himself into things that will exceed his life. In the blink of an eye, the epic turns on its head the entire utility maximization role that mainstream economics has tirelessly tried to sew on people as a part of their nature.81
  • It is simpler to observe the main features of our civilization at a time when the picture was more readable—at a time when our civilization was just being born and was still “half-naked.” In other words, we have tried to dig down to the bedrock of our written civilization;
  • today remember Gilgamesh for his story of heroic friendship with Enkidu, not for his wall, which no longer reaches monumental heights.
  • the eleventh and final tablet, Gilgamesh again loses what he sought. Like Sisyphus, he misses his goal just before the climax
  • is there something from it that is valid today? Have we found in Gilgamesh certain archetypes that are in us to this day?
  • The very existence of questions similar to today’s economic ones can be considered as the first observation. The first written considerations of the people of that time were not so different from those today. In other words: The epic is understandable for us, and we can identify with it.
  • We have also been witnesses to the very beginnings of man’s culturing—a great drama based on a liberation and then a distancing from the natural state.
  • Let us take this as a memento in the direction of our restlessness, our inherited dissatisfaction and the volatility connected to it. Considering that they have lasted five thousand years and to this day we find ourselves in harmony with a certain feeling of futility, perhaps these characteristics are inherent in man.
  • Gilgamesh had a wall built that divided the city from wild nature and created a space for the first human culture. Nevertheless, “not even far-reaching works of civilization could satisfy human desire.”
  • Friendship shows us new, unsuspected adventures, gives us the opportunity to leave the wall and to become neither its builder nor its part—to not be another brick in the wall.
  • with the phenomenon of the creation of the city, we have seen how specialization and the accumulation of wealth was born, how holy nature was transformed into a secular supplier of resources, and also how humans’ individualistic ego was emancipated.
  • to change the system, to break down that which is standing and go on an expedition against the gods (to awaken, from naïveté to awakening) requires friendship.
  • For small acts (hunting together, work in a factory), small love is enough: Camaraderie. For great acts, however, great love is necessary, real love: Friendship. Friendship that eludes the economic understanding of quid pro quo. Friendship gives. One friend gives (fully) for the other. That is friendship for life and death,
  • The thought that humanity comes at the expense of efficiency is just as old as humanity itself—as we have shown, subjects without emotion are the ideal of many tyrants.
  • The epic later crashes this idea through the friendship of Gilgamesh and Enkidu. Friendship—the biologically least essential love, which at first sight appears to be unnecessary
  • less a civilized, city person is dependent on nature, the more he or she is dependent on the rest of society. Like Enkidu, we have exchanged nature for society; harmony with (incalculable) nature for harmony with (incalculable) man.
  • human nature good or evil? To this day these questions are key for economic policy: If we believe that man is evil in his nature, therefore that a person himself is dog eat dog (animal), then the hard hand of a ruler is called for. If we believe that people in and of themselves, in their nature, gravitate toward good, then it is possible to loosen up the reins and live in a society that is more laissez-faire.
  • For a concept of historical progress, for the undeification of heroes, rulers, and nature, mankind had to wait for the Hebrews.
  • Because nature is not undeified, it is beyond consideration to explore it, let alone intervene in it (unless a person was a two-thirds god like Gilgamesh). It
  • They practiced money lending, traded in many assets (…) and especially were engaged in the trading of shares on capital markets, worked in currency exchange and frequently figured as mediators in financial transactions (…), they functioned as bankers and participated in emissions of all possible forms.
  • As regards modern capitalism (as opposed to the ancient and medieval periods) … there are activities in it which are, in certain forms, inherently (and completely necessarily) present—both from an economic and legal standpoint.7
  • As early as the “dark” ages, the Jews commonly used economic tools that were in many ways ahead of their time and that later became key elements of the modern economy:
  • Gilgamesh’s story ends where it began. There is a consistency in this with Greek myths and fables: At the end of the story, no progress occurs, no essential historic change; the story is set in indefinite time, something of a temporal limbo.
  • Jews believe in historical progress, and that progress is in this world.
  • For a nation originally based on nomadism, where did this Jewish business ethos come from? And can the Hebrews truly be considered as the architects of the values that set the direction of our civilization’s economic thought?
  • Hebrew religiosity is therefore strongly connected with this world, not with any abstract world, and those who take pleasure in worldly possessions are not a priori doing anything wrong.
  • PROGRESS: A SECULARIZED RELIGION One of the things the writers of the Old Testament gave to mankind is the idea and notion of progress. The Old Testament stories have their development; they change the history of the Jewish nation and tie in to each other. The Jewish understanding of time is linear—it has a beginning and an end.
  • The observance of God’s Commandments in Judaism leads not to some ethereal other world, but to an abundance of material goods (Genesis 49:25–26, Leviticus 26:3–13, Deuteronomy 28:1–13) (…) There are no accusing fingers pointed at
  • There are no echoes of asceticism nor for the cleansing and spiritual effect of poverty. It is fitting therefore, that the founders of Judaism, the Patriarchs Abraham, Isaac and Jacob, were all wealthy men.12
  • about due to a linear understanding of history. If history has a beginning as well as an end, and they are not the same point, then exploration suddenly makes sense in areas where the fruits are borne only in the next generation.
  • What’s more, economic progress has almost become an assumption of modern functional societies. We expect growth. We take it automatically. Today, if nothing “new” happens, if GDP does not grow (we say it stagnates) for several quarters, we consider it an anomaly.
  • however, the idea of progress itself underwent major changes, and today we perceive it very differently. As opposed to the original spiritual conceptions, today we perceive progress almost exclusively in an economic or scientific-technological sense.
  • Because care for the soul has today been replaced by care for external things,
  • This is why we must constantly grow, because we (deep down and often implicitly) believe that we are headed toward an (economic) paradise on Earth.
  • Only since the period of scientific-technological revolution (and at a time when economics was born as an independent field) is material progress automatically assumed.
  • Jewish thought is the most grounded, most realistic school of thought of all those that have influenced our culture.17 An abstract world of ideas was unknown to the Jews. To this day it is still forbidden to even depict God, people, and animals in symbols, paintings, statues, and drawings.
  • economists have become key figures of great importance in our time (Kacířské eseje o filosofii dějin [Heretical Essays in the Philosophy of History]). They are expected to perform interpretations of reality, give prophetic services (macroeconomic forecasts), reshape reality (mitigate the impacts of the crisis, speed up growth), and, in the long run, provide leadership on the way to the Promised Land—paradise on Earth.
  • REALISM AND ANTIASCETICISM Aside from ideas of progress, the Hebrews brought another very fundamental contribution to our culture: The desacralization of heroes, nature, and rulers.
  • Voltaire writes: “It certain fact is, that in his public laws he [Moses] never so much as once made mention of a life to come, limiting all punishments and all rewards to the present life.”21
  • As opposed to Christianity, the concept of an extraterrestrial paradise or heaven was not developed much in Hebrew thought.19 The paradise of the Israelites—Eden—was originally placed on Earth at a given place in Mesopotamia20 and at a given time,
  • The Hebrews consider the world to be real—not just a shadow reflection of a better world somewhere in the cloud of ideas, something the usual interpretation of history ascribes to Plato. The soul does not struggle against the body and is not its prisoner, as Augustine would write later.
  • The land, the world, the body, and material reality are for Jews the paramount setting for divine history, the pinnacle of creation. This idea is the conditio sine qua non of the development of economics, something of an utterly earthly making,
  • The mythology of the hero-king was strongly developed in that period, which Claire Lalouette summarizes into these basic characteristics: Beauty (a perfect face, on which it is “pleasant to look upon,” but also “beauty,” expressed in the Egyptian word nefer, not only means aesthetics, but contains moral qualities as well),
  • THE HERO AND HIS UNDEIFICATION: THE DREAM NEVER SLEEPS The concept of the hero is more important than it might appear. It may be the remote origin of Keynes’s animal spirits, or the desire to follow a kind of internal archetype that a given individual accepts as his own and that society values.
  • This internal animator of ours, our internal mover, this dream, never sleeps and it influences our behavior—including economic behavior—more than we want to realize.
  • manliness and strength,28 knowledge and intelligence,29 wisdom and understanding, vigilance and performance, fame and renown (fame which overcomes enemies because “a thousand men would not be able to stand firmly in his presence”);30 the hero is a good shepherd (who takes care of his subordinates), is a copper-clad rampart, the shield of the land, and the defender of heroes.
  • Each of us probably has a sort of “hero within”—a kind of internal role-model, template, an example that we (knowingly or not) follow. It is very important what kind of archetype it is, because its role is dominantly irrational and changes depending on time and the given civilization.
  • The oldest was the so-called Trickster—a fraudster; then the culture bearer—Rabbit; the musclebound hero called Redhorn; and finally the most developed form of hero: the Twins.
  • the Egyptian ruler, just as the Sumerian, was partly a god, or the son of a god.31
  • Jacob defrauds his father Isaac and steals his brother Esau’s blessing of the firstborn. Moses murders an Egyptian. King David seduces the wife of his military commander and then has him killed. In his old age, King Solomon turns to pagan idols, and so on.
  • Anthropology knows several archetypes of heroes. The Polish-born American anthropologist Paul Radin examined the myths of North American Indians and, for example, in his most influential book, The Trickster, he describes their four basic archetypes of heroes.
  • The Torah’s heroes (if that term can be used at all) frequently make mistakes and their mistakes are carefully recorded in the Bible—maybe precisely so that none of them could be deified.32
  • We do not have to go far for examples. Noah gets so drunk he becomes a disgrace; Lot lets his own daughters seduce him in a similar state of drunkenness. Abraham lies and (repeatedly) tries to sell his wife as a concubine.
  • the Hebrew heroes correspond most to the Tricksters, the Culture Bearers, and the Twins. The divine muscleman, that dominant symbol we think of when we say hero, is absent here.
  • To a certain extent it can be said that the Hebrews—and later Christianity—added another archetype, the archetype of the heroic Sufferer.35 Job
  • Undeification, however, does not mean a call to pillage or desecration; man was put here to take care of nature (see the story of the Garden of Eden or the symbolism of the naming of the animals). This protection and care of nature is also related to the idea of progress
  • For the heroes who moved our civilization to where it is today, the heroic archetypes of the cunning trickster, culture bearer, and sufferer are rather more appropriate.
  • the Old Testament strongly emphasizes the undeification of nature.37 Nature is God’s creation, which speaks of divinity but is not the domain of moody gods
  • This is very important for democratic capitalism, because the Jewish heroic archetype lays the groundwork much better for the development of the later phenomenon of the hero, which better suits life as we know it today. “The heroes laid down their arms and set about trading to become wealthy.”
  • in an Old Testament context, the pharaoh was a mere man (whom one could disagree with, and who could be resisted!).
  • RULERS ARE MERE MEN In a similar historical context, the Old Testament teachings carried out a similar desacralization of rulers, the so-called bearers of economic policy.
  • Ultimately the entire idea of a political ruler stood against the Lord’s will, which is explicitly presented in the Torah. The Lord unequivocally preferred the judge as the highest form of rule—an
  • The needs of future generations will have to be considered; after all humankind are the guardians of God’s world. Waste of natural resources, whether privately owned or nationally owned is forbidden.”39
  • Politics lost its character of divine infallibility, and political issues were subject to questioning. Economic policy could become a subject of examination.
  • 44 God first creates with the word and then on individual days He divides light from darkness, water from dry land, day from night, and so forth—and He gives order to things.45 The world is created orderly— it is wisely, reasonably put together. The way of the world is put together at least partially46 decipherably by any other wise and reasonable being who honors rational rules.
  • which for the methodology of science and economics is very important because disorder and chaos are difficult to examine scientifically.43 Faith in some kind of rational and logical order in a system (society, the economy) is a silent assumption of any (economic) examination.
  • THE PRAISE OF ORDER AND WISDOM: MAN AS A PERFECTER OF CREATION The created world has an order of sorts, an order recognizable by us as people,
  • From the very beginning, when God distances Himself from the entire idea, there is an anticipation that there is nothing holy, let alone divine, in politics. Rulers make mistakes, and it is possible to subject them to tough criticism—which frequently occurs indiscriminately through the prophets in the Old Testament.
  • Hebrew culture laid the foundations for the scientific examination of the world.
  • Examining the world is therefore an absolutely legitimate activity, and one that is even requested by God—it is a kind of participation in the Creator’s work.51 Man is called on to understand himself and his surroundings and to use his knowledge for good.
  • I was there when he set heavens in place, when he marked out the horizon on the face of the deep (…) Then I was the craftsman at his side.47
  • There are more urgings to gain wisdom in the Old Testament. “Wisdom calls aloud in the street (…): ‘How long will you simple ones love your simple ways?’”49 Or several chapters later: “Wisdom is supreme; therefore get wisdom. Though it cost all you have, get understanding.”50
  • examination is not forbidden. The fact that order can be grasped by human reason is another unspoken assumption that serves as a cornerstone of any scientific examination.
  • then, my sons, listen to me; blessed are those who keep my ways (…) Blessed is the man who listens to me, watching daily at my doors, waiting at my doorway. For whoever finds me finds life and receives favor from the Lord.
  • the rational examination of nature has its roots, surprisingly, in religion.
  • The Lord brought me forth as the first of his works, before his deeds of old. I was appointed from eternity, from the beginning, before the world began. When there were no oceans, I was given birth, when there were no springs abounding with water, before the mountains were settled in place,
  • The Book of Proverbs emphasizes specifically several times that it was wisdom that was present at the creation of the world. Wisdom personified calls out:
  • The last act, final stroke of the brush of creation, naming of the animals—this act is given to a human, it is not done by God, as one would expect. Man was given the task of completing the act of creation that the Lord began:
  • MAN AS A FINISHER OF CREATION The creation of the world, as it is explained in Jewish teachings, is described in the Book of Genesis. Here God (i) creates, (ii) separates, and (iii) names [my emphasis]:
  • Naming is a symbolic expression. In Jewish culture (and also in our culture to this day), the right to name meant sovereign rights and belonged, for example, to explorers (new places), inventors (new principles), or parents (children)—that is, to those who were there at the genesis, at the origin. This right was handed over by God to mankind.
  • The Naming itself (the capital N is appropriate) traditionally belongs to the crowning act of the Creator and represents a kind of grand finale of creation, the last move of the brush to complete the picture—a signature of the master.
  • Without naming, reality does not exist; it is created together with language. Wittgenstein tightly names this in his tractatus—the limits of our language are the limits of our world.53
  • He invented (fictitiously and completely abstractly!) a framework that was generally accepted and soon “made into” reality. Marx invented similarly; he created the notion of class exploitation. Through his idea, the perception of history and reality was changed for a large part of the world for nearly an entire century.
  • Reality is not a given; it is not passive. Perceiving reality and “facts” requires man’s active participation. It is man who must take the last step, an act (and we
  • How does this relate to economics? Reality itself, our “objective” world, is cocreated, man himself participates in the creation; creation, which is somewhat constantly being re-created.
  • Our scientific models put the finishing touches on reality, because (1) they interpret, (2) they give phenomena a name, (3) they enable us to classify the world and phenomena according to logical forms, and (4) through these models we de facto perceive reality.
  • When man finds a new linguistic framework or analytical model, or stops using the old one, he molds or remolds reality. Models are only in our heads; they are not “in objective reality.” In this sense, Newton invented (not merely discovered!) gravity.
  • A real-ization act on our part represents the creation of a construct, the imputation of sense and order (which is beautifully expressed by the biblical act of naming, or categorization, sorting, ordering).
  • Keynes enters into the history of economic thought from the same intellectual cadence; his greatest contribution to economics was precisely the resurrection of the imperceptible—for example in the form of animal spirits or uncertainty. The economist Piero Mini even ascribes Keynes’s doubting and rebellious approach to his almost Talmudic education.63
  • God connects man with the task of guarding and protecting the Garden of Eden, and thus man actually cocreates the cultural landscape. The Czech philosopher Zdeněk Neubauer also describes this: “Such is reality, and it is so deep that it willingly crystallizes into worlds. Therefore I profess that reality is a creation and not a place of occurrence for objectively given phenomena.”61
  • in this viewpoint it is possible to see how Jewish thought is mystical—it admits the role of the incomprehensible. Therefore, through its groundedness, Jewish thought indulges mystery and defends itself against a mechanistic-causal explanation of the world: “The Jewish way of thinking, according to Veblen, emphasizes the spiritual, the miraculous, the intangible.
  • The Jews believed the exact opposite. The world is created by a good God, and evil appears in it as a result of immoral human acts. Evil, therefore, is induced by man.66 History unwinds according to the morality of human acts.
  • What’s more, history seems to be based on morals; morals seem to be the key determining factors of history. For the Hebrews, history proceeds according to how morally its actors behave.
  • The Sumerians believed in dualism—good and evil deities exist, and the earth of people becomes their passive battlefield.
  • GOOD AND EVIL IN US: A MORAL EXPLANATION OF WELL-BEING We have seen that in the Epic of Gilgamesh, good and evil are not yet addressed systematically on a moral level.
  • This was not about moral-human evil, but rather a kind of natural evil. It is as if good and evil were not touched by morality at all. Evil simply occurred. Period.
  • the epic, good and evil are not envisaged morally—they are not the result of an (a)moral act. Evil was not associated with free moral action or individual will.
  • Hebrew thought, on the other hand, deals intensively with moral good and evil. A moral dimension touches the core of its stories.65
  • discrepancy between savings and investment, and others are convinced of the monetary essence
  • The entire history of the Jewish nation is interpreted and perceived in terms of morality. Morality has become, so to speak, a mover and shaker of Hebrew history.
  • sunspots. The Hebrews came up with the idea that morals were behind good and bad years, behind the economic cycle. But we would be getting ahead of ourselves. Pharaoh’s Dream: Joseph and the First Business Cycle To
  • It is the Pharaoh’s well-known dream of seven fat and seven lean cows, which he told to Joseph, the son of Jacob. Joseph interpreted the dream as a macroeconomic prediction of sorts: Seven years of abundance were to be followed by seven years of poverty, famine, and misery.
  • Self-Contradicting Prophecy Here, let’s make several observations on this: Through taxation74 on the level of one-fifth of a crop75 in good years to save the crop and then open granaries in bad years, the prophecy was de facto prevented (prosperous years were limited and hunger averted—through a predecessor of fiscal stabilization).
  • The Old Testament prophesies therefore were not any deterministic look into the future, but warnings and strategic variations of the possible, which demanded some kind of reaction. If the reaction was adequate, what was prophesied would frequently not occur at all.
  • This principle stands directly against the self-fulfilling prophecy,80 the well-known concept of social science. Certain prophecies become self-fulfilling when expressed (and believed) while others become self-contradicting prophecies when pronounced (and believed).
  • If the threat is anticipated, it is possible to totally or at least partially avoid it. Neither Joseph nor the pharaoh had the power to avoid bounty or crop failure (in this the dream interpretation was true and the appearance of the future mystical), but they avoided the impacts and implications of the prophecy (in this the interpretation of the dream was “false”)—famine did not ultimately occur in Egypt, and this was due to the application of reasonable and very intuitive economic policy.
  • Let us further note that the first “macroeconomic forecast” appears in a dream.
  • back to Torah: Later in this story we will notice that there is no reason offered as to why the cycle occurs (that will come later). Fat years will simply come, and then lean years after them.
  • Moral Explanation of a Business Cycle That is fundamentally different from later Hebrew interpretations, when the Jewish nation tries to offer reasons why the nation fared well or poorly. And those reasons are moral.
  • If you pay attention to these laws and are careful to follow them, then the Lord your God will keep his covenant of love with you, as he swore to your forefathers. He will love you and bless you and increase your numbers.
  • Only in recent times have some currents of economics again become aware of the importance of morals and trust in the form of measuring the quality of institutions, the level of justice, business ethics, corruption, and so forth, and examining their influence on the economy,
  • From today’s perspective, we can state that the moral dimension entirely disappeared from economic thought for a long time, especially due to the implementation of Mandeville’s concept of private vices that contrarily support the public welfare
  • Without being timid, we can say this is the first documented attempt to explain the economic cycle. The economic cycle, the explanation of which is to this day a mystery to economists, is explained morally in the Old Testament.
  • But how do we consolidate these two conflicting interpretations of the economic cycle: Can ethics be responsible for it or not? Can we influence reality around us through our acts?
  • it is not within the scope of this book to answer that question; justice has been done to the question if it manages to sketch out the main contours of possible searches for answers.
  • THE ECONOMICS OF GOOD AND EVIL: DOES GOOD PAY OFF? This is probably the most difficult moral problem we could ask.
  • Kant, the most important modern thinker in the area of ethics, answers on the contrary that if we carry out a “moral” act on the basis of economic calculus (therefore we carry out an hedonistic consideration; see below) in the expectation of later recompense, its morality is lost. Recompense, according to the strict Kant, annuls ethics.
  • Inquiring about the economics of good and evil, however, is not that easy. Where would Kant’s “moral dimension of ethics” go if ethics paid? If we do good for profit, the question of ethics becomes a mere question of rationality.
  • Job’s friends try to show that he must have sinned in some way and, in doing so, deserved God’s punishment. They are absolutely unable to imagine a situation in which Job, as a righteous man, would suffer without (moral) cause. Nevertheless, Job insists that he deserves no punishment because he has committed no offense: “God has wronged me and drawn his net around me.”94
  • But Job remains righteous, even though it does not pay to do so: Though he slay me, yet will I hope in him.95 And till I die, I will not deny my integrity I will maintain my righteousness and never let go of it; my conscience will not reproach me as long as I live.96
  • He remains righteous, even if his only reward is death. What economic advantage could he have from that?
  • morals cannot be considered in the economic dimension of productivity and calculus. The role of the Hebrews was to do good, whether it paid off or not. If good (outgoing) is rewarded by incoming goodness, it is a bonus,99 not a reason to do outgoing good. Good and reward do not correlate to each other.
  • This reasoning takes on a dimension of its own in the Old Testament. Good (incoming) has already happened to us. We must do good (outgoing) out of gratitude for the good (incoming) shown to us in the past.
  • So why do good? After all, suffering is the fate of many biblical figures. The answer can only be: For good itself. Good has the power to be its own reward. In this sense, goodness gets its reward, which may or may not take on a material dimension.
  • the Hebrews offered an interesting compromise between the teachings of the Stoics and Epicureans. We will go into it in detail later, so only briefly
  • constraint. It calls for bounded optimalization (with limits). A kind of symbiosis existed between the legitimate search for one’s own utility (or enjoyment of life) and maintaining rules, which are not negotiable and which are not subject to optimalization.
  • In other words, clear (exogenously given) rules exist that must be observed and cannot be contravened. But within these borders it is absolutely possible, and even recommended, to increase utility.
  • the mining of enjoyment must not come at the expense of exogenously given rules. “Judaism comes therefore to train or educate the unbounded desire … for wealth, so that market activities and patterns of consumption operate within a God-given morality.”102
  • The Epicureans acted with the goal of maximizing utility without regard for rules (rules developed endogenously, from within the system, computed from that which increased utility—this was one of the main trumps of the Epicurean school; they did not need exogenously given norms, and argued that they could “calculate” ethics (what to do) for every given situation from the situation itself).
  • The Stoics could not seek their enjoyment—or, by another name, utility. They could not in any way look back on it, and in no way could they count on it. They could only live according to rules (the greatest weakness of this school was to defend where exogenously the given rules came from and whether they are universal) and take a indifferent stand to the results of their actions.
  • To Love the Law The Jews not only had to observe the law (perhaps the word covenant would be more appropriate), but they were to love it because it was good.
  • Their relationship to the law was not supposed to be one of duty,105 but one of gratitude, love. Hebrews were to do good (outgoing), because goodness (incoming) has already been done to them.
  • This is in stark contrast with today’s legal system, where, naturally, no mention of love or gratefulness exists. But God expects a full internalization of the commandments and their fulfillment with love, not as much duty. By no means was this on the basis of the cost-benefit analyses so widespread in economics today, which determines when it pays to break the law and when not to (calculated on the basis of probability of being caught and the amount of punishment vis-à-vis the possible gain).
  • And now, O Israel, what does the Lord your God ask of you but to fear the Lord your God, to walk in all his ways, to love him, to serve the Lord your God with all your heart and with all your soul, and to observe the Lord’s commands and decrees that I am giving you today for your own good? To the Lord your God belong the heavens, even the highest heavens, the earth and everything in it. Yet the Lord set his affection on your forefathers and loved them….
  • the principle of doing good (outgoing) on the basis of a priori demonstrated good (incoming) was also taken over by the New Testament. Atonement itself is based on an a priori principle; all our acts are preceded by good.
  • The Hebrews, originally a nomadic tribe, preferred to be unrestrained and grew up in constant freedom of motion.
  • Human laws, if they are in conflict with the responsibilities given by God, are subordinate to personal responsibility, and a Jew cannot simply join the majority, even if it is legally allowed. Ethics, the concept of good, is therefore always superior to all local laws, rules, and customs:
  • THE SHACKLES OF THE CITY Owing to the Hebrew’s liberation from Egyptian slavery, freedom and responsibility become the key values of Jewish thought.
  • Laws given by God are binding for Jews, and God is the absolute source of all values,
  • The Hebrew ideal is represented by the paradise of the Garden of Eden, not a city.116 The despised city civilization or the tendency to see in it a sinful and shackling way of life appears in glimpses and allusions in many places in the Old Testament.
  • The nomadic Jewish ethos is frequently derived from Abraham, who left the Chaldean city of Ur on the basis of a command:
  • In addition, they were aware of a thin two-way line between owner and owned. We own material assets, but—to a certain extent—they own us and tie us down. Once we become used to a certain material
  • This way of life had understandably immense economic impacts. First, such a society lived in much more connected relationships, where there was no doubt that everyone mutually depended on each other. Second, their frequent wanderings meant the inability to own more than they could carry; the gathering up of material assets did not have great weight—precisely because the physical weight (mass) of things was tied to one place.
  • One of Moses’s greatest deeds was that he managed to explain to his nation once and for all that it is better to remain hungry and liberated than to be a slave with food “at no cost.”
  • SOCIAL WELFARE: NOT TO ACT IN THE MANNER OF SODOM
  • regulations is developed in the Old Testament, one we hardly find in any other nation of the time. In Hebrew teachings, aside from individual utility, indications of the concept of maximalizing utility societywide appear for the first time as embodied in the Talmudic principle of Kofin al midat S´dom, which can be translated as “one is compelled not to act in the manner of Sodom” and to take care of the weaker members of society.
  • In a jubilee year, debts were to be forgiven,125 and Israelites who fell into slavery due to their indebtedness were to be set free.126
  • Such provisions can be seen as the antimonopoly and social measures of the time. The economic system even then had a clear tendency to converge toward asset concentration, and therefore power as well. It would appear that these provisions were supposed to prevent this process
  • Land at the time could be “sold,” and it was not sale, but rent. The price (rent) of real estate depended on how long there was until a forgiveness year. It was about the awareness that we may work the land, but in the last instance we are merely “aliens and strangers,” who have the land only rented to us for a fixed time. All land and riches came from the Lord.
  • These provisions express a conviction that freedom and inheritance should not be permanently taken away from any Israelite. Last but not least, this system reminds us that no ownership lasts forever and that the fields we plow are not ours but the Lord’s.
  • Glean Another social provision was the right to glean, which in Old Testament times ensured at least basic sustenance for the poorest. Anyone who owned a field had the responsibility not to harvest it to the last grain but to leave the remains in the field for the poor.
  • Tithes and Early Social Net Every Israelite also had the responsibility of levying a tithe from their entire crop. They had to be aware from whom all ownership comes and, by doing so, express their thanks.
  • “Since the community has an obligation to provide food, shelter, and basic economic goods for the needy, it has a moral right and duty to tax its members for this purpose. In line with this duty, it may have to regulate markets, prices and competition, to protect the interests of its weakest members.”135
  • In Judaism, charity is not perceived as a sign of goodness; it is more of a responsibility. Such a society then has the right to regulate its economy in such a way that the responsibility of charity is carried out to its satisfaction.
  • With a number of responsibilities, however, comes the difficulty of getting them into practice. Their fulfillment, then, in cases when it can be done, takes place gradually “in layers.” Charitable activities are classified in the Talmud according to several target groups with various priorities, classified according to, it could be said, rules of subsidiarity.
  • Do not mistreat an alien or oppress him, for you were aliens in Egypt.140 As one can see, aside from widows and orphans, the Old Testament also includes immigrants in its area of social protection.141 The Israelites had to have the same rules apply for them as for themselves—they could not discriminate on the basis of their origin.
  • ABSTRACT MONEY, FORBIDDEN INTEREST, AND OUR DEBT AGE If it appears to us that today’s era is based on money and debt, and our time will be written into history as the “Debt age,” then it will certainly be interesting to follow how this development occurred.
  • Money is a social abstractum. It is a social agreement, an unwritten contract.
  • The first money came in the form of clay tablets from Mesopotamia, on which debts were written. These debts were transferable, so the debts became currency. In the end, “It is no coincidence that in English the root of ‘credit’ is ‘credo,’ the Latin for ‘I believe.’”
  • To a certain extent it could be said that credit, or trust, was the first currency. It can materialize, it can be embodied in coins, but what is certain is that “money is not metal,” even the rarest metal, “it is trust inscribed,”
  • Inseparably, with the original credit (money) goes interest. For the Hebrews, the problem of interest was a social issue: “If you lend money to one of my people among you who is needy, do not be like a moneylender; charge him no interest.”
  • there were also clearly set rules setting how far one could go in setting guarantees and the nonpayment of debts. No one should become indebted to the extent that they could lose the source of their livelihood:
  • In the end, the term “bank” comes from the Italian banci, or the benches that Jewish lenders sat on.157
  • Money is playing not only its classical roles (as a means of exchange, a holder of value, etc.) but also a much greater, stronger role: It can stimulate, drive (or slow down) the whole economy. Money plays a national economic role.
  • In the course of history, however, the role of loans changed, and the rich borrowed especially for investment purposes,
  • Today the position and significance of money and debt has gone so far and reached such a dominant position in society that operating with debts (fiscal policy) or interest or money supply (monetary policy) means that these can, to a certain extent, direct (or at least strongly influence) the whole economy and society.
  • In such a case a ban on interest did not have great ethical significance. Thomas Aquinas, a medieval scholar (1225-1274), also considers similarly; in his time, the strict ban on lending with usurious interest was loosened, possibly due to him.
  • As a form of energy, money can travel in three dimensions, vertically (those who have capital lend to those who do not) and horizontally (speed and freedom in horizontal or geographic motion has become the by-product—or driving force?—of globalization). But money (as opposed to people) can also travel through time.
  • money is something like energy that can travel through time. And it is a very useful energy, but at the same time very dangerous as well. Wherever
  • Aristotle condemned interest162 not only from a moral standpoint, but also for metaphysical reasons. Thomas Aquinas shared the same fear of interest and he too argued that time does not belong to us, and that is why we must not require interest.
  • MONEY AS ENERGY: TIME TRAVEL AND GROSS DEBT PRODUCT (GDP)
  • Due to this characteristic, we can energy-strip the future to the benefit of the present. Debt can transfer energy from the future to the present.163 On the other hand, saving can accumulate energy from the past and send it to the present.
  • labor was not considered degrading in the Old Testament. On the contrary, the subjugation of nature is even a mission from God that originally belonged to man’s very first blessings.
  • LABOR AND REST: THE SABBATH ECONOMY
  • The Jews as well as Aristotle behaved very guardedly toward loans. The issue of interest/usury became one of the first economic debates. Without having an inkling of the future role of economic policy (fiscal and monetary), the ancient Hebrews may have unwittingly felt that they were discovering in interest a very powerful weapon, one that can be a good servant, but (literally) an enslaving master as well.
  • It’s something like a dam. When we build one, we are preventing periods of drought and flooding in the valley; we are limiting nature’s whims and, to a large extent, avoiding its incalculable cycles. Using dams, we can regulate the flow of water to nearly a constant. With it we tame the river (and we can also gain
  • But if we do not regulate the water wisely, it may happen that we would overfill the dam and it would break. For the cities lying in the valley, their end would be worse than if a dam were never there.
  • If man lived in harmony with nature before, now, after the fall, he must fight; nature stands against him and he against it and the animals. From the Garden we have moved unto a (battle)field.
  • Only after man’s fall does labor turn into a curse.168 It could even be said that this is actually the only curse, the curse of the unpleasantness of labor, that the Lord places on Adam.
  • Both Plato and Aristotle consider labor to be necessary for survival, but that only the lower classes should devote themselves to it so that the elites would not have to be bothered with it and so that they could devote themselves to “purely spiritual matters—art, philosophy, and politics.”
  • Work is also not only a source of pleasure but a social standing; It is considered an honor. “Do you see a man skilled in his work? He will serve before kings.”170 None of the surrounding cultures appreciate work as much. The idea of the dignity of labor is unique in the Hebrew tradition.
  • Hebrew thinking is characterized by a strict separation of the sacred from the profane. In life, there are simply areas that are holy, and in which it is not allowed to economize, rationalize, or maximize efficiency.
  • good example is the commandment on the Sabbath. No one at all could work on this day, not even the ones who were subordinate to an observant Jew:
  • the message of the commandment on Saturday communicated that people were not primarily created for labor.
  • Paradoxically, it is precisely this commandment out of all ten that is probably the most violated today.
  • Aristotle even considers labor to be “a corrupted waste of time which only burdens people’s path to true honour.”
  • we have days when we must not toil connected (at least lexically) with the word meaning emptiness: the English term “vacation” (or emptying), as with the French term, les vacances, or German die Freizeit, meaning open time, free time, but also…
  • Translated into economic language: The meaning of utility is not to increase it permanently but to rest among existing gains. Why do we learn how to constantly increase gains but not how to…
  • This dimension has disappeared from today’s economics. Economic effort has no goal at which it would be possible to rest. Today we only know growth for growth’s sake, and if our company or country prospers, that does not…
  • Six-sevenths of time either be dissatisfied and reshape the world into your own image, man, but one-seventh you will rest and not change the creation. On the seventh day, enjoy creation and enjoy the work of your hands.
  • the purpose of creation was not just creating but that it had an end, a goal. The process was just a process, not a purpose. The whole of Being was created so…
  • Saturday was not established to increase efficiency. It was a real ontological break that followed the example of the Lord’s seventh day of creation. Just as the Lord did not rest due to tiredness or to regenerate strength; but because He was done. He was done with His work, so that He could enjoy it, to cherish in His creation.
  • If we believe in rest at all today, it is for different reasons. It is the rest of the exhausted machine, the rest of the weak, and the rest of those who can’t handle the tempo. It’s no wonder that the word “rest…
  • Related to this, we have studied the first mention of a business cycle with the pharaoh’s dream as well as seen a first attempt (that we may call…
  • We have tried to show that the quest for a heaven on Earth (similar to the Jewish one) has, in its desacralized form, actually also been the same quest for many of the…
  • We have also seen that the Hebrews tried to explain the business cycle with morality and ethics. For the Hebrews,…
  • ancient Greek economic ethos, we will examine two extreme approaches to laws and rules. While the Stoics considered laws to be absolutely valid, and utility had infinitesimal meaning in their philosophy, the Epicureans, at least in the usual historical explanation, placed utility and pleasure in first place—rules were to be made based on the principle of utility.
  • CONCLUSION: BETWEEN UTILITY AND PRINCIPLE The influence of Jewish thought on the development of market democracy cannot be overestimated. The key heritage for us was the lack of ascetic perception of the world, respect to law and private…
  • We have tried to show how the Torah desacralized three important areas in our lives: the earthly ruler, nature,…
  • What is the relationship between the good and evil that we do (outgoing) and the utility of disutility that we (expect to) get as a reward (incoming)? We have seen…
  • The Hebrews never despised material wealth; on contrary, the Jewish faith puts great responsibility on property management. Also the idea of progress and the linear perception of time gives our (economic)…
  • the Hebrews managed to find something of a happy compromise between both of these principles.
  • will not be able to completely understand the development of the modern notion of economics without understanding the disputes between the Epicureans and the Stoics;
  • poets actually went even further, and with their speech they shaped and established reality and truth. Honor, adventure, great deeds, and the acclaim connected with them played an important role in the establishment of the true, the real.
  • those who are famous will be remembered by people. They become more real, part of the story, and they start to be “realized,” “made real” in the lives of other people. That which is stored in memory is real; that which is forgotten is as if it never existed.
  • Today’s scientific truth is founded on the notion of exact and objective facts, but poetic truth stands on an interior (emotional) consonance with the story or poem. “It is not addressed first to the brain … [myth] talks directly to the feeling system.”
  • “epic and tragic poets were widely assumed to be the central ethical thinkers and teachers of Greece; nobody thought of their work as less serious, less aimed at truth, than the speculative prose treatises of historians and philosophers.”5 Truth and reality were hidden in speech, stories, and narration.
  • Ancient philosophy, just as science would later, tries to find constancy, constants, quantities, inalterabilities. Science seeks (creates?) order and neglects everything else as much as it can. In their own experiences, everyone knows that life is not like that,
  • Just as scientists do today, artists drew images of the world that were representative, and therefore symbolic, picturelike, and simplifying (but thus also misleading), just like scientific models, which often do not strive to be “realistic.”
  • general? In the end, poetry could be more sensitive to the truth than the philosophical method or, later, the scientific method. “Tragic poems, in virtue of their subject matter and their social function, are likely to confront and explore problems about human beings and luck that a philosophical text might be able to omit or avoid.”8
‹ Previous 21 - 40 of 167 Next › Last »
Showing 20▼ items per page