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Javier E

What Can History Tell Us About the World After Trump? - 0 views

  • U.S. President Donald Trump largely ignores the past or tends to get it wrong.
  • Whenever he leaves office, in early 2021, 2025, or sometime in between, the world will be in a worse state than it was in 2016. China has become more assertive and even aggressive. Russia, under its president for life, Vladimir Putin, carries on brazenly as a rogue state, destabilizing its neighbors and waging a covert war against democracies through cyberattacks and assassinations. In Brazil, Hungary, the Philippines, and Saudi Arabia, a new crop of strongman rulers has emerged. The world is struggling to deal with the COVID-19 pandemic and is just coming to appreciate the magnitude of its economic and social fallout. Looming over everything is climate change.
  • Will the coming decades bring a new Cold War, with China cast as the Soviet Union and the rest of the world picking sides or trying to find a middle ground? Humanity survived the original Cold War in part because each side’s massive nuclear arsenal deterred the other from starting a hot war and in part because the West and the Soviet bloc got used to dealing with each other over time, like partners in a long and unhappy relationship, and created a legal framework with frequent consultation and confidence-building measures. In the decades ahead, perhaps China and the United States can likewise work out their own tense but lasting peace
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  • Today’s unstable world, however, looks more like that of the 1910s or the 1930s, when social and economic unrest were widespread and multiple powerful players crowded the international scene, some bent on upending the existing order. Just as China is challenging the United States today, the rising powers of Germany, Japan, and the United States threatened the hegemonic power of the British Empire in the 1910s. Meanwhile, the COVID-19 pandemic has led to an economic downturn reminiscent of the Great Depression of the 1930s.
  • The history of the first half of the twentieth century demonstrates all too vividly that unchecked or unmoderated tensions can lead to extremism at home and conflict abroad. It also shows that at times of heightened tension, accidents can set off explosions like a spark in a powder keg, especially if countries in those moments of crisis lack wise and capable leadership.
  • If the administration that succeeds Trump’s wants to repair the damaged world and rebuild a stable international order, it ought to use history—not as a judge but as a wise adviser.
  • WARNING SIGNS
  • A knowledge of history offers insurance against sudden shocks. World wars and great depressions do not come out of the clear blue sky; they happen because previous restraints on bad behavior have weakened
  • In the nineteenth century, enough European powers—in particular the five great ones, Austria, France, Prussia, Russia, and the United Kingdom—came to believe that unprovoked aggression should not be tolerated, and Europe enjoyed more peace than at any other time in its troubled history until after 1945
  • Further hastening the breakdown of the international order is how states are increasingly resorting to confrontational politics, in substance as well as in style.
  • Their motives are as old as states themselves: ambition and greed, ideologies and emotions, or just fear of what the other side might be intending
  • Defusing tensions is possible, but it requires leadership aided by patient diplomacy, confidence building, and compromise.
  • Public rhetoric matters, too, because it can create the anticipation of, even a longing for, confrontation and can stir up forces that leaders cannot control.
  • Today, decades of “patriotic education” in China’s schools have fostered a highly nationalist younger generation that expects its government to assert itself in the world.
  • Lately, however, some historians have begun to see that interwar decade in a different light—as a time of real progress toward a strong international order.
  • Unfortunately, compromise does not always play well to domestic audiences or elites who see their honor and status tied up with that of their country. But capable leaders can overcome those obstacles. Kennedy and Khrushchev overruled their militaries, which were urging war on them; they chose, at considerable risk, to work with each other, thus sparing the world a nuclear war.
  • Trump, too, has left a highly personal mark on global politics. In the long debate among historians and international relations experts over which matters most—great impersonal forces or specific leaders—his presidency surely adds weight to the latter.
  • His character traits, life experiences, and ambitions, combined with the considerable power the president can exert over foreign policy, have shaped much of U.S. foreign policy over the last nearly four years, just as Putin’s memories of the humiliation and disappearance of the Soviet Union at the end of the Cold War have fed his determination to make Russia count again on the world stage. It still matters that both men happen to lead large and powerful countries.
  • When Germany fell into the clutches of Adolf Hitler, in contrast, he was able to start a world war.
  • THE NOT-SO-GOLDEN AGE
  • In relatively stable times, the world can endure problematic leaders without lasting damage. It is when a number of disruptive factors come together that those wielding power can bring on the perfect storm
  • By 1914, confrontation had become the preferred option for all the players, with the exception of the United Kingdom, which still hoped to prevent or at least stay out of a general European war.
  • Although they might not have realized it, many Europeans were psychologically prepared for war. An exaggerated respect for their own militaries and the widespread influence of social Darwinism encouraged a belief that war was a noble and necessary part of a nation’s struggle for survival. 
  • Preparing for conflict—or even appearing to do so—pushes the other side toward a confrontational stance of its own. Scenarios sketched out as possibilities in more peaceful times become probabilities, and leaders find that their freedom to maneuver is shrinking.
  • In the last days of peace, in July and early August 1914, the task of keeping Europe out of conflict weighed increasingly on a few men, above all Kaiser Wilhelm II of Germany, Tsar Nicholas II of Russia, and Emperor Franz Josef of Austria-Hungary. Each proved unable to withstand the pressure from those who urged war.
  • THE MISUNDERSTOOD DECADE
  • With the benefit of hindsight, historians have often considered the Paris Peace Conference of 1919 to be a failure and the 1920s a mere prelude to the inevitable rise of the dictators and the descent into World War II.
  • The only chance of preventing a local conflict from becoming a continent-wide conflagration lay with the civilian leaders who would ultimately decide whether or not to sign the mobilization orders. But those nominally in charge were unfit to bear that responsibility.
  • The establishment in 1920 of his brainchild, the League of Nations, was a significant step, even without U.S. membership: it created an international body to provide collective security for its members and with the power to use sanctions, even including war, against aggressors
  • Overall, the 1920s were a time of cooperation, not confrontation, in international relations. For the most part, the leaders of the major powers, the Soviet Union excepted, supported a peaceful international order.
  • The promise of the 1920s was cut short by the Great Depression.
  • Citizens lost faith in the ability of their leaders to cope with the crisis. What was more ominous, they often lost faith in capitalism and democracy. The result was the growth of extremist parties on both the right and the left.
  • The catastrophe that followed showed yet again how important the individual can be in the wielding of power. Hitler had clear goals—to break what he called “the chains” of the Treaty of Versailles and make Germany and “the Aryan race” dominant in Europe, if not the world—and he was determined to achieve them at whatever cost.
  • The military, delighted by the increases in defense spending and beguiled by Hitler’s promises of glory and territorial expansion, tamely went along. In Italy, Mussolini, who had long dreamed of a second Roman Empire, abandoned his earlier caution. On the other side of the world, Japan’s new rulers were also thinking in terms of national glory and building a Greater Japan through conquest.
  • Preoccupied with their own problems, the leaders of the remaining democracies were slow to realize the developing threat to world order and slow to take action
  • This time, war was the result not of reckless brinkmanship or weak governments but of powerful leaders deliberately seeking confrontation. Those who might have opposed them, such as the British prime minister Neville Chamberlain, chose instead to appease them in the hope that war could be avoided. By failing to act in the face of repeated violations of treaties and international law, the leaders of the democracies allowed the international order to break.
  • OMINOUS ECHOES
  • Led by Roosevelt, statesmen in the Allied countries were determined to learn from this mistake. Even as the war raged, they enunciated the principles and planned the institutions for a new and better world order.
  • Three-quarters of a century later, however, that order is looking dangerously creaky. The COVID-19 pandemic has damaged the world’s economy and set back international cooperation.
  • Tensions are building up as they did before the two world wars, with intensifying great-power rivalries and with regional conflicts, such as the recent skirmishes between China and India, that threaten to draw in other players.
  • Meanwhile, the pandemic will shake publics’ faith in their countries’ institutions, just as the Great Depression did.
  • Norms that once seemed inviolable, including those against aggression and conquest, have been breached. Russia seized Crimea by force in 2014, and the Trump administration last year gave the United States’ blessing to Israel’s de facto annexation of the Golan Heights and may well recognize the threatened annexation of large parts of the West Bank that Israel conquered in 1967.
  • Will others follow the example set by Russia and Israel, as happened in the 1910s and the 1930s?
  • Russia continues to meddle wherever it can, and Putin dreams of destroying the EU
  • U.S.-Chinese relations are increasingly adversarial, with continued spats over trade, advanced technology, and strategic influence, and both sides are developing scenarios for a possible war. The two countries’ rhetoric has grown more bellicose, too. China’s “Wolf Warrior” diplomats, so named by Chinese officials after a popular movie series, excoriate those who dare to criticize or oppose Beijing, and American officials respond in kind.
  • How the world copes will depend on the strength of its institutions and, at crucial moments, on leadership. Weak and indecisive leaders may allow bad situations to get worse, as they did in 1914. Determined and ruthless ones can create wars, as they did in 1939. Wise and brave ones may guide the world through the storms. Let us hope the last group has read some history.
lmunch

Fact-Checking the Vice-Presidential Debate - The New York Times - 0 views

  • Mr. Pence deployed a number of misleading or inaccurate arguments. He mischaracterized the White House event at which many officials appear to have been infected with the virus, overstated the likelihood that a vaccine will be in widespread distribution by the end of the year and exaggerated the impact of the limited travel ban imposed on China.
  • Ms. Harris overstated some of her arguments. She said the manufacturing sector is in a recession when it is not. She suggested that if elected, former Vice President Joseph R. Biden Jr. would repeal Mr. Trump’s tax cuts on Day One, a step that would actually require a time-consuming effort to pass new tax legislation in Congress — and in any case Mr. Biden has only proposed rolling back portions of the Trump tax cuts.
  • “The president said it was a hoax.”— Ms. HarrisThis is misleading. Ms. Harris is taking Mr. Trump’s comments out of context. He was speaking about the Democrats’ criticism of his administration’s response to the pandemic and comparing it to the “impeachment hoax,” not the virus itself.“Now the Democrats are politicizing the coronavirus. You know that, right? Coronavirus. They’re politicizing it. We did one of the great jobs. You say, ‘How’s President Trump doing?’ They go, ‘Oh, not good, not good.’ They have no clue. They don’t have any clue,” Mr. Trump said at a February rally in South Carolina. “They tried anything, they tried it over and over, they’ve been doing it since you got in. It’s all turning, they lost, it’s all turning. Think of it. Think of it. And this is their new hoax,” he continued.
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  • “The United States has reduced CO2 more than the countries that are still in the Paris climate accord. But we’ve done it through innovation, and we’ve done it through natural gas and fracking.”— Mr. PenceFalse.
  • “The care the president received at Walter Reed Hospital by the White House doctors was exceptional. And the transparency that they’ve practiced all along the way will continue.”— Mr. PenceFalse
  • “Because of a so-called trade war with China, America lost 300,000 manufacturing jobs. Farmers have experienced bankruptcy because of it. We are in a manufacturing recession because of it.”— Ms. HarrisThis is exaggerated.
  • “On Day 1, Joe Biden will repeal that tax bill.” — Ms. HarrisThis is false
Javier E

FC95: The Age of Louis XIV, the "Sun King" (1643-1715) - The Flow of History - 2 views

  • Introduction From 1643 to 1815 France dominated much of Europe's political history and culture.  Foreigners came to France, preferring it to the charms of their own homeland.  Even today, many still consider it the place to visit in Europe and the world.  In the 1600's and 1700's there was a good reason for this dominance: population.  France had 23,000,000 people in a strongly unified state compared to 5,000,000 in Spain and England, and 2,000,000 in the Dutch Republic and the largest of the German states.  This reservoir of humanity first reached for and nearly attained the dominance of Europe under Louis XIV, the "Sun King".
  • Louis' early life and reign (1643-61) Louis was born in 1638 and succeeded his father, Louis XIII, as king in 1643 at the age of five.  Luckily, another able minister and Richelieu's successor, Cardinal Mazarin, continued to run the government.  In 1648, encroachment by the government on the nobles' power, poor harvests, high taxes, and unemployed mercenaries plundering the countryside after the Thirty Years War led to a serious revolt known as the Fronde, named after the slingshot used by French boys.  Louis and the court barely escaped from Paris with their lives.  Although Mazarin and his allies crushed the rebels after five hard years of fighting (1648-53), Louis never forgot the fear and humiliation of having to run from the Parisian mob and fight for his life and throne against the nobles.  This bitter experience would heavily influence Louis' policies when he ruled on his own.
  • Louis XIV may not have said, "I am the state", but he ruled as if he had said it.  Louis was the supreme example of the absolute monarch, and other rulers in Europe could do no better than follow his example.  Although Louis wished to be remembered as a great conqueror, his first decade of active rule was largely taken up with building France's internal strength.  There are two main areas of Louis' rule we will look at here: finances and the army. Louis' finance minister, Jean Baptiste Colbert, was an astute businessman of modest lineage, being the son of a draper.  Colbert's goal was to build France's industries and reduce foreign imports.  This seventeenth century policy where a country tried to export more goods and import more gold and silver was known as mercantilism.  While its purpose was to generate revenue for the king, it also showed the growing power of the emerging nation state.  Colbert declared his intention to reform the whole financial structure of the French state, and he did succeed in reducing the royal debt by cutting down on the number of tax farms he sold and freeing royal lands from mortgage.  Colbert especially concentrated on developing France's economy in three ways.
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  • Religion was one aspect of Louis' reign that illustrated the absolute nature of his monarchy quite well.  Louis himself was quite a pious Catholic, learning that trait from his mother.  However, in the spirit of the day, he saw religion as a department of state subordinate to the will of the king.  By the same token, not adhering to the Catholic faith was seen as treason. As a result, Louis gradually restricted the rights of the French Huguenots and finally, in 1685, revoked the Edict of Nantes, which had given them religious freedom since the end of the French Wars of Religion in 1598.  This drove 200,000 Huguenots out of France, depriving it of some of its most skilled labor.  Thus Louis let his political and religious biases ruin a large sector of France's economy.
  • Versailles Louis' religious faith was largely a superficial one attached to the elaborate ritual of the Catholic mass.  This love of ritual also showed itself in how Louis ran his court at his magnificent palace of Versailles, several miles outside of Paris.  Much of the reason for building Versailles goes back to the Fronde that had driven Louis from Paris as a young boy.  Ever since then, Louis had distrusted the volatile Paris mob and was determined to move the court away from the influence of that city.  Versailles was also the showpiece of Louis' reign, glorifying him as the Sun King with its magnificent halls and gardens.
  • Just as Louis's palace at Versailles dominated European culture during the late 1600's and early 1700's, his diplomacy and wars dominated Europeans political history.  As Louis himself put it: "The character of a conqueror is regarded as the noblest and highest of titles."  Interestingly enough, he never led his troops in battle except for overseeing a few sieges from a safe distance.
  • Louis' main goals were to expand France to its "natural borders": the Rhine, the Alps, and the Pyrenees.  This, of course, would make him enemies among the Dutch, Germans, Austrians, Spanish, and English.  Therefore, Louis' diplomacy had to clear the way to make sure he did not fight everyone at once.  For this purpose he skillfully used money to neutralize potential enemies (such as Charles II of England in the Secret Treaty of Dover) and extracted favorable terms from stalemate or losing situations.  But Louis could also make some fateful blunders to hurt his cause.  His obsessive hatred of the Dutch dominated his policy too much, as did his own self-confidence and arrogance in trying to publicly humiliate his enemies.  However, this just alarmed Louis' enemies more, especially the Dutch, Austrians, and English, who allied against Louis to preserve the balance of power.
  • Exhaustion on both sides finally led to the Treaty of Utrecht in 1713.  Louis' grandson took the throne of Spain and its American empire, but the French and Spanish thrones could not be united under one ruler.  Austria got the Spanish Netherlands to contain French aggression to the north.  Just as the Treaty of Westphalia in 1648 had contained Hapsburg aggression, the Treaty of Utrecht contained French expansion.  Two years later Louis XIV was dead, with little to show for his vaunted ambitions as a conqueror except an exhausted economy and dissatisfied populace.
  • Results of Louis' reign The age of Louis XIV was important to European history for several reasons.  First of all, it saw the triumph of absolutism in France and continental Europe.  Versailles was a glittering symbol and example for other European rulers to follow.  Any number of German and East European monarchs modeled their states and courts after Louis XIV, sometimes to the point of financial ruin.  Second, Louis' wars showed the system of Balance of Power politics working better than ever.  French aggression was contained and the status quo was maintained.  All this had its price, since the larger sizes of the armies and the final replacement of the pike with the musket took European warfare to a new level of destruction.  Finally, Louis' reign definitely established France as the dominant power in Europe.  However, the cost was immense and left his successors a huge debt.  Ironically, the problems caused by Louis XIV's reign would help lead to the French Revolution in 1789 and the spread of democratic principles across Europe and eventually the world.
  • I am the state. — Voltaire, incorrectly quoting Louis XIV
Javier E

David S. Brown | Lapham's Quarterly - 0 views

  • “He is our finest letter writer, our outstanding nineteenth-century historian, and, with the sole exception of Benjamin Franklin, our most iconic memoirist,” historian David S. Brown writes of Henry Adams at the beginning of his biography The Last American Aristocrat: The Brilliant Life and Improbable Education of Henry Adams.
Javier E

Andrew Sullivan and the Narrative of the "MSM Narrative" - by Jonathan V. Last - The Triad - 0 views

  • This is nonsense. Let’s unpack all of it.
  • “We” and “They”
  • The “mainstream media”—I’m going to stop putting that in quotes, but keep imagining that I’m saying it sarcastically—is probably made up of several thousand individuals and then a three-figure number of institutions. At any given moment, on any given story, some number of these people and institutions will communicate facts that are eventually understood to be misleading or incorrect. Some of these people and institutions are better at their jobs than others.
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  • The point is that the MSM universe is so large that you’re always going to be able to cherry-pick examples to support the notion that “they” are feeding “us” false narratives.
  • We have had a robust conversation about whether the inflation we’re seeing is transitory, or not. There are different signals pointing in different directions. Of the thousands of people who make up the MSM, some give more credence to one view, some to the other.1
  • The same is true for literally every other example Sullivan cherry-picks. Jussie Smollett was not an “MSM narrative.” It was a crime-blotter case that the media reported, and then continued reporting on, even as the subsequent reporting took Smollett’s story apart.
  • Surely some people in or around the MSM were more credulous than they should have been. Some people were skeptical from the start. There was no “narrative” except the one that exists in Andrew Sullivan’s head.
  • And of the dozens of thousands of meta-stories the MSM has covered over the last five years, much of the reporting has added real value to our world, yes?
  • For instance, if you only relied on reporting from the MSM about COVID, you would have been much better informed than if you’d relied on, say, Facebook, or conservative media. Reporting on the 2020 election lawsuits and allegations of fraud in the MSM were, in the main, very helpful.
  • Undergirding Sullivan’s essay is a notion that someone ought to do something.
  • Remember: It wasn’t a faceless blob called “the media” that published the UVA story. It was Rolling Stone. And it was a collection of reporters at various “mainstream media outlets” who took the Rolling Stone story apart.
  • I mention this history not to damn the mainstream media, but to show that what Sullivan laments isn’t new. There is no golden past. People in the media make mistakes. Sometimes big ones. Bigger, even, than the “narrative” on the Covington kids.
  • What’s the Alternative?
  • Is the journalistic mode great? No. Like democracy, it is the worst system there is—except for all the others.
  • Well, we tried that. “Conservative media” in its modern incarnation—the Washington Times, Fox News, the Federalist—was created as a corrective to the endemic flaws in the mainstream media.
  • the Rolling Stone case is actually a proof of concept for the media.
  • The Federalist publishes snuff fantasies and COVID death-cult nonsense.
  • And conservative media criticism is so nakedly partisan that on occasions when conservative media makes a mistake—for instance, the Washington Examiner’s Muslim prayer-rugs-at-the-border story—the response from erstwhile “conservative media critics” was . . . [crickets].
  • In conservative media, there is no self-corrective outside of the legal system.2
  • Any Club at Hand
  • Why has Sullivan recently become so exercised about the dangers of MSM narratives? I suspect because we often write what we know.
  • In recent years Andrew Sullivan has been othered by parts of the MSM for sins against current political orthodoxy. To him, these recent developments feel like a big, all-consuming story. Because for him, personally, they have been.
  • someone has to defend the honor of the dreaded mainstream media. Because here is the very boring truth about “MSM narratives”:
  • The media is a vast space where actors and institutions are interconnected, but operate semi-independently, according to a variety of incentives. Sometimes independent actors make good-faith mistakes. Sometimes they make bad-faith mistakes. But in most cases—in nearly every case, actually—the marketplace of ideas eventually wins and the truth outs.
  • The MSM is like a giant peer-review system, but where the peer-reviewing takes place after publication. Jonathan Rauch talks about this at length in The Constitution of Knowledge—that the scientific enterprise and the journalistic enterprise have similar modes of operation.
  • The conservative broadcast ecosystem—Fox, OAN, Newsmax, talk radio—is so untethered from reality that their legal departments occasionally force them to air libel-remedy hostage videos condemning their own “reporting.” They air anti-vaccine nonsense and false-flag theories.
  • By its diffuse nature, the media can’t be optimized. There will always be flaws and inefficiencies.5
  • I’d argue that the mainstream media’s continued openness to self-correction over the last few years is evidence of its overall reliability and health—even in the face of our democracy having hit a real-deal constitutional crisis.
  • We are on the cusp of a media crisis that no one is talking about.
  • As we move toward 2024, the big concern should be how the media would cover an openly anti-democratic presidential candidate. Would they treat said candidate as a danger to America? Or would they attempt to remain neutral and pretend that he was just another generic politician doing normal political things?
clairemann

Gorsuch didn't mask despite Sotomayor's COVID worries, leading her to telework : NPR - 0 views

  • All were now wearing masks. All, that is, except Justice Neil Gorsuch. What's more, Justice Sonia Sotomayor was not there at all, choosing instead to participate through a microphone setup in her chambers.
  • She has been the only justice to wear a mask on the bench since last fall when, amid a marked decline in COVID-19 cases
  • They all did. Except Gorsuch, who, as it happens, sits next to Sotomayor on the bench. His continued refusal since then has also meant that Sotomayor has not attended the justices' weekly conference in person, joining instead by telephone.
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  • Gorsuch, from the beginning of his tenure, has proved a prickly justice, not exactly beloved even by his conservative soulmates on the court.
  • "somebody who takes pleasure tearing the wings off flies," he said, provoking loud snickers on the bench.
  • At the same time, many of the conservatives are vying for the position of intellectual leader of the conservative majority, while the chief justice privately worries about going too far too fast.
  • Noting that 15 justices over 50 years have reaffirmed the basic framework of Roe, and only four have dissented, she asked this pointed question: "Will this institution survive the stench that this [turnaround] creates in the public perception that the Constitution and its reading are just political acts?"
  • They often agree on the outcome of a case but not the legal reasoning, with Chief Justice Roberts sometimes trying to rein in the court's most aggressive conservatives.
  • the court in the 1940s, when the justices detested each other so much they were known as "nine scorpions in a bottle." We are not scorpions, Kagan and Sotomayor said.
  • "The only way we get people to do what we say that they should do is because people respect us and respect out fairness,"
  • something out of the ordinary is happening.
  • Many of the justices on the court in the 1940s were very famous; they were household names; they were from very different professional backgrounds, both political and legal. In contrast, the justices today have had very similar careers; they were and are largely unknown to the public as individuals. And while they initially got on reasonably well, says Feldman, two things are happening to change that.
  • historic opportunity to reverse some liberal decisions that their whole movement grew out of hating, with Roe v. Wade the most famous."
  • you're seeing fissures in the conservative legal movement based on its success."
  • "fainthearted originalist" and "what he meant by that was that he was an originalist, but not if it meant overturning some of the things that have existed for a long time, like the administrative state."
  • They are "come-what-may originalists," says Feldman, "while others are more moderate and reasonable in their exercise of originalism."
  • Conservatives are united on hot-button issues
  • "The conservatives are playing with fire."
  • "as it looks like it probably will, it will be doing something the Supreme Court has never done ... in its history, and that is, reverse a fundamental right that ordinary people have enjoyed for 50 years, and say, 'Whoops, ... you never really had this right at all." The court, he maintains, "has never turned back the clock of liberty in that way before."
  • "I don't think it will happen through the drip, drip drip," he says. "I think it will happen through the tsunami. But I also think that overturning Roe v. Wade ... could well turn out to be the beginning of that tsunami."
Javier E

Opinion | I Studied Five Countries' Health Care Systems. We Need to Get More Creative W... - 0 views

  • I’m convinced that the ability to get good, if not great, care in facilities that aren’t competing with one another is the main way that other countries obtain great outcomes for much less money. It also allows for more regulation and control to keep a lid on prices.
  • Because of government subsidies, most people spend less than 25 percent of their income on housing and can choose between buying new flats at highly subsidized prices or flats available for resale on an open market.
  • Other social determinants that matter include food security, access to education and even race. As part of New Zealand’s reforms, its Public Health Agency, which was established less than a year ago, specifically puts a “greater emphasis on equity and the wider determinants of health such as income, education and housing.” It also specifically seeks to address racism in health care, especially that which affects the Maori population.
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  • When I asked about Australia’s rather impressive health outcomes, he said that while “Australia’s mortality that is amenable to, or influenced by, the health care system specifically is good, it’s not fundamentally better than that seen in peer O.E.C.D. countries, the U.S. excepted. Rather, Australia’s public health, social policy and living standards are more responsible for outcomes.”
  • Addressing these issues in the United States would require significant investment, to the tune of hundreds of billions or even trillions of dollars a year. That seems impossible until you remember that we spent more than $4.4 trillion on health care in 2022. We just don’t think of social policies like housing, food and education as health care.
  • Other countries, on the other hand, recognize that these issues are just as important, if not more so, than hospitals, drugs and doctors. Our narrow view too often defines health care as what you get when you’re sick, not what you might need to remain well.
  • When other countries choose to spend less on their health care systems (and it is a choice), they take the money they save and invest it in programs that benefit their citizens by improving social determinants of health
  • In the United States, conversely, we argue that the much less resourced programs we already have need to be cut further. The recent debt limit compromise reduces discretionary spending and makes it harder for people to access government programs like food stamps.
  • When I asked experts in each of these countries what might improve the areas where they are deficient (for instance, the N.H.S. has been struggling quite a bit as of late), they all replied the same way: more money. Some of them lack the political will to allocate those funds. Others can’t make major investments without drawing from other priorities.
  • Singapore will need to spend more, it’s very unlikely to go above the 8 percent to 10 percent of G.D.P. that pretty much all developed countries have historically spent.
  • That is, all of them except the United States. We currently spend about 18 percent of G.D.P. on health care. That’s almost $12,000 per American. It’s about twice what other countries currently spend.
  • We cannot seem to do what other countries think is easy, while we’ve happily decided to do what other countries think is impossible.But this is also what gives me hope. We’ve already decided to spend the money; we just need to spend it better.
Javier E

The Midterms Message for Republicans - The Atlantic - 0 views

  • The historian Bernard Lewis once offered sage advice to any group that faces adverse circumstances: “The question, ‘Who did this to us?’ has led only to neurotic fantasies and conspiracy theories. The other question—‘What did we do wrong?’—has led naturally to a second question, ‘How do we put it right?’ In that question … lie[s] the best hope for the future.”
  • For the party of the president to do well in a midterm election is very rare: 2002, 1998, 1962, and 1934 are the exceptions over the past century or so. In all four of those exceptional years, the president’s party was buoyed by some affirmative factor: a rally around the flag after 9/11, the economic boom of the late 1990s, relief after the Cuban missile crisis, the beginnings of recovery from the Great Depression.
  • This year was one in which all the indicators seemed negative for the party of the president: right-track/wrong-track numbers, presidential approval ratings, and optimism about the future. Yet Biden’s party won and won and won again despite the negative indicators.
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  • it’s hard to miss the strong smell here of a thorough repudiation, up and down the ballot, of the post-Trump Republican Party, of the January 6 insurrectionists, and of a cultural agenda that seems to many Americans regressive and repressive.
Javier E

What Elon Musk's 'Age of Abundance' Means for the Future of Capitalism - WSJ - 0 views

  • When it comes to the future, Elon Musk’s best-case scenario for humanity sounds a lot like Sci-Fi Socialism.
  • “We will be in an age of abundance,” Musk said this month.
  • Sunak said he believes the act of work gives meaning, and had some concerns about Musk’s prediction. “I think work is a good thing, it gives people purpose in their lives,” Sunak told Musk. “And if you then remove a large chunk of that, what does that mean?”
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  • Part of the enthusiasm behind the sky-high valuation of Tesla, where he is chief executive, comes from his predictions for the auto company’s abilities to develop humanoid robots—dubbed Optimus—that can be deployed for everything from personal assistants to factory workers. He’s also founded an AI startup, dubbed xAI, that he said aims to develop its own superhuman intelligence, even as some are skeptical of that possibility. 
  • Musk likes to point to another work of Sci-Fi to describe how AI could change our world: a series of books by the late-, self-described-socialist author Iain Banks that revolve around a post-scarcity society that includes superintelligent AI. 
  • That is the question.
  • “We’re actually going to have—and already do have—a massive shortage of labor. So, I think we will have not people out of work but actually still a shortage of labor—even in the future.” 
  • Musk has cast his work to develop humanoid robots as an attempt to solve labor issues, saying there aren’t enough workers and cautioning that low birthrates will be even more problematic. 
  • Instead, Musk predicts robots will be taking jobs that are uncomfortable, dangerous or tedious. 
  • A few years ago, Musk declared himself a socialist of sorts. “Just not the kind that shifts resources from most productive to least productive, pretending to do good, while actually causing harm,” he tweeted. “True socialism seeks greatest good for all.”
  • “It’s fun to cook food but it’s not that fun to wash the dishes,” Musk said this month. “The computer is perfectly happy to wash the dishes.”
  • In the near term, Goldman Sachs in April estimated generative AI could boost the global gross domestic product by 7% during the next decade and that roughly two-thirds of U.S. occupations could be partially automated by AI. 
  • Vinod Khosla, a prominent venture capitalist whose firm has invested in the technology, predicted within a decade AI will be able to do “80% of 80%” of all jobs today.
  • “I believe the need to work in society will disappear in 25 years for those countries that adapt these technologies,” Khosla said. “I do think there’s room for universal basic income assuring a minimum standard and people will be able to work on the things they want to work on.” 
  • Forget universal basic income. In Musk’s world, he foresees something more lush, where most things will be abundant except unique pieces of art and real estate. 
  • “We won’t have universal basic income, we’ll have universal high income,” Musk said this month. “In some sense, it’ll be somewhat of a leveler or an equalizer because, really, I think everyone will have access to this magic genie.” 
  • All of which kind of sounds a lot like socialism—except it’s unclear who controls the resources in this Muskism society
  • “Digital super intelligence combined with robotics will essentially make goods and services close to free in the long term,” Musk said
  • “What is an economy? An economy is GDP per capita times capita.” Musk said at a tech conference in France this year. “Now what happens if you don’t actually have a limit on capita—if you have an unlimited number of…people or robots? It’s not clear what meaning an economy has at that point because you have an unlimited economy effectively.”
  • In theory, humanity would be freed up for other pursuits. But what? Baby making. Bespoke cooking. Competitive human-ing. 
  • “Obviously a machine can go faster than any human but we still have humans race against each other,” Musk said. “We still enjoy competing against other humans to, at least, see who was the best human.”
  • Still, even as Musk talks about this future, he seems to be grappling with what it might actually mean in practice and how it is at odds with his own life. 
  • “If I think about it too hard, it, frankly, can be dispiriting and demotivating, because…I put a lot of blood, sweat and tears into building companies,” he said earlier this year. “If I’m sacrificing time with friends and family that I would prefer but then ultimately the AI can do all these things, does that make sense?”“To some extent,” Musk concluded, “I have to have a deliberate suspension of disbelief in order to remain motivated.”
Javier E

'Childhood has been rewired': Professor Jonathan Haidt on how smartphones are damaging ... - 0 views

  • Something strange is happening with teenagers’ mental health. In Britain, the US, Australia and beyond, the same trend can be seen: around the middle of the last decade, the number of young people with anxiety, depression and even suicidal tendancies started to rise sharpl
  • He is working on a book, due out next year, and is ready to share his thesis.
  • his message is quite horrifying.
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  • He argues that the tools of social media are just too sharp for young minds. On digital platforms teens parade themselves, often to an audience of strangers, and this is leading to addiction, paranoia and despair
  • For girls, the effect is especially acute. ‘What we’re seeing is a very sharp, sudden change in girls’ mental health all around the Anglosphere and the Nordic countries,’ he says. A big change was evident from 2013, when physical friendship groups started to be supplanted by smartphones and online chat. ‘But you cannot grow up in networks. You have to grow up in communities.’
  • The first is that they are fragile and can be harmed by speech and words.
  • But if you’re a secular liberal girl, you’re probably more than twice as likely to have a mental health problem.’
  • a University of Michigan survey into ‘self-derogation’ – i.e., how likely teenagers are to say they are ‘no good’ or ‘can’t do anything right’. Figures had been stable for years but started rising sharply ten years ago – except for among boys who identified as conservative and said that religion was important to them.
  • irls simply use social media more. But Professor Haidt also thinks they are more likely to buy into what he calls the ‘three great untruths’ of social media
  • boys who have religion in their lives seem to be less susceptible. ‘If you’re a kid who’s a religious conservative, on average, your mental health is not really much worse than it was ten years ago
  • Next, that their emotions, and especially their anxieties, are reliable guides to reality.
  • And finally, that society is one big battle between victims and oppressors. All this, he says, is the subtext to social media discourse.
  • ‘It’s what I’ve been calling the phone-based child,’
  • So we had playdates in childhood, up until around 2010.’ In Britain, he says, the number of children who went on real-life playdates then fell sharply.
  • Social media is a bit of a misnomer, he says. It’s no longer about connecting people, but ‘performing on a platform’. Perhaps this is fine for grown-ups, but not for children, ‘where they can say things in public, including to strangers, and then be publicly shamed by potentially millions of people
  • Children should not be on social networks. They should be playing in person. Social media platforms should never be accessed by children until they’re 18. It’s just insane that we let kids do these things.’
  • I ask if he thinks all platforms are equally dangerous
  • if you get your news from social media (which many people do – in the UK, Instagram has overtaken all newspapers as a news source), this can change your view of the world, especially as the algorithms tend to promote the most provocative views.
  • ‘TikTok is probably the worst for their intellectual development. I think it literally reduces their ability to focus on anything while stuffing them with little bits of stuff that was selected by an algorithm for emotional arousal. Not for truth.’
  • If asked to choose whether they side more with Israel or Hamas, ‘the great majority of Americans side with Israel, except for Gen Z, which is split 50-50’,
  • ‘There was a Twitter thread recently showing how if you look at what people are saying on TikTok, you can understand why
  • TikTok and Twitter are incredibly dangerous for our democracy. I’d say they’re incompatible with the kind of liberal democracy that we’ve developed over the last few hundred years.’
  • Might it just be the case, I ask, that there’s less of a stigma around mental health now, so teenagers are far more likely to admit that they have problems?
  • why is it, then, that right around 2013 all these girls suddenly start checking into psychiatric inpatient units? Or suicide – they’re making many more suicide attempts. The level of self-harm goes up by 200 or 300 per cent, especially for the younger girls aged ten to 14
  • we see very much the same curves, at the same time, for behaviour. Suicide, certainly, is not a self-report variable. This is real. This is the biggest mental health crisis in all of known history for kids.’
  • he increased number of suicides since 2010 is so large that I suspect this is among the largest public health threats to children since the major diseases were wiped out
  • His third rule: no phones in schools.
  • What should parents do? They know that if they try to remove their teenager’s smartphone, their child will accuse them of destroying his or her social life. ‘That’s a perfect statement of what we call a collective action problem,’
  • ‘Any one person doing the right thing is in big trouble. But why do we ever let our kids on social media? It’s only down to the dynamic you just said.’ New norms are needed, he says. And his book will suggest four.
  • Rule one, he says: no smartphones before the age of 14.
  • ‘Give them a flip phone. Millennials had flip phones. They texted each other
  • Rule two: no social media before 16
  • In Britain, suicide rates started rising in 2014, up about 20 per cent for boys (to 420 a year) and 60 per cent for girls (to 160 a year).
  • finally: more unsupervised play. ‘Both of our countries freaked out in the 1990s, locked up our kids because we lost trust in each other. We thought everyone was a child molester or a rapist.’ Children and teens could do with six or seven hours each day out of contact with their parents, he argues. Keeping them inside risks more harm than the outside world would pose.
Javier E

The Phantasms of Judith Butler - The Atlantic - 0 views

  • The central idea of Who’s Afraid of Gender? is that fascism is gaining strength around the world, and that its weapon is what Butler calls the “phantasm of gender,” which they describe as a confused and irrational bundle of fears that displaces real dangers onto imaginary ones.
  • Similarly, Trump’s Christian-right supporters see this adjudicated rapist as a bulwark against sexual libertinism, but he also has a following among young men who admire him as libertine in chief and among people of every stripe who think he’ll somehow make them richer.
  • Butler is obviously correct that the authoritarian right sets itself against feminism and modern sexual rights and freedom.
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  • But is the gender phantasm as crucial to the global far right as Butler claims?
  • Butler has little to say about the appeal of nationalism and community, insistence on ethnic purity, opposition to immigration, anxiety over economic and social stresses, fear of middle-class-status loss, hatred of “elites.”
  • why Hungarian Prime Minister Viktor Orbán is so popular, it would be less his invocation of the gender phantasm and more his ruthless determination to keep immigrants out, especially Muslim ones, along with his delivery of massive social services to families in an attempt to raise the birth rate
  • The chapter of Who’s Afraid of Gender? that is most relevant for American and British readers is probably the one about the women, many of them British, whom opponents call “TERFs” (trans-exclusionary radical feminists), but who call themselves “gender-critical feminists.”
  • But is obsession with “gender” really the primary motive behind current right-wing movements? And why is it so hard to trust that the noise around “gender” might actually be indicative of people’s real feelings, and not just the demagogue-fomented distraction Butler asser
  • Instead of proving that “gender” is a crucial part of what motivates popular support for right-wing authoritarianism, Butler simply asserts that it is, and then ties it all up with a bow called “fascism.”
  • ascism is a word that Butler admits is not perfect but then goes on to use repeatedly. I’m sure I’ve used it myself as a shorthand when I’m writing quickly, but it’s a bit manipulative. As used by Butler and much of the left, it covers way too many different issues and suggests that if you aren’t on board with the Butlerian worldview on every single one of them, a brown shirt must surely be hanging in your closet.
  • As they define it—“fascist passions or political trends are those which seek to strip people of the basic rights they require to live”—most societies for most of history have been fascist, including, for long stretches, our own
  • Instead of facing up to the problems of, for example, war, declining living standards, environmental damage, and climate change, right-wing leaders whip up hysteria about threats to patriarchy, traditional families, and heterosexuality.
  • They discuss only two authors at any length, the philosopher Kathleen Stock and J. K. Rowling. Butler does not engage with their writing in any detail—they do not quote even one sentence from Stock’s Material Girls: Why Reality Matters for Feminism, a serious book that has been much discussed, or indeed from any other gender-crit work, except for some writing from Rowling, including her essay in which she describes domestic violence at the hands of her first husband, an accusation he admits to in part.
  • They dismiss, with that invocation of a “phantasm,” apprehension about the presence of trans women in women’s single-sex spaces, (as well as, gender-crits would add, biological men falsely claiming to be trans in order to gain access to same), concerns for biologically female athletes who feel cheated out of scholarships and trophies, and the slight a biological woman might experience by being referred to as a “menstruator.”
  • Butler wants to dismiss gender-crits as fascist-adjacent: Indeed, in an interview, they compare Stock and Rowling to Putin and the pope.
  • It does seem odd that Butler, for whom everything about the body is socially produced, would be so uninterested in exploring the ways that trans identity is itself socially produced, at least in part—by, for example, homophobia and misogyny and the hypersexualization of young girls, by social media and online life, by the increasing popularity of cosmetic surgery, by the libertarian-individualist presumption that you can be whatever you want.
  • what is authenticity
  • In every other context, Butler works to demolish the idea of the eternal human—everything is contingent—except for when it comes to being transgender. There, the individual, and only the individual, knows themself.
  • I can't tell you how many left and liberal people I know who keep quiet about their doubts because they fear being ostracized professionally or socially. Nobody wants to be accused of putting trans people's lives in danger, and, after all, don't we all want, as the slogan goes, to “Be Kind”?
  • The trouble is that, in the long run, the demand for self-suppression fuels reaction. Polls show declining support for various trans demands for acceptance . People don’t like being forced by social pressure to deny what they think of as the reality of sex and gender.
  • They cite the civil-rights activist and singer Bernice Johnson Reagon’s call for “difficult coalitions” but forget that coalitions necessarily involve compromise and choosing your battles, not just accusing people of sharing the views of fascists
  • What if instead of trying to suppress the questioning of skeptics, we admit we don’t have many answers? What if, instead, we had a conversation? After all, isn’t that what philosophy is all about?
Javier E

Opinion | Why Boys Today Struggle With Human Connection - The New York Times - 0 views

  • By the time he left Discord a year or so later, he’d had about 200 calls with different people, both men and women, who spoke of contemplating suicide.
  • But it was the boys who seemed the most desperately lonely and isolated. On the site, he said, he found “a lot more unhealthy men than unhealthy women.” He added: “With men, there is a huge thing about mental health and shame because you’re not supposed to be weak. You’re not supposed to be broken.” A male mental-health crisis was flying under the radar.
  • I have come to believe the conditions of modern boyhood amount to a perfect storm for loneliness
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  • All the old deficiencies and blind spots of male socialization are still in circulation — the same mass failure to teach boys relational skills and emotional intelligence, the same rigid masculinity norms and social prohibitions that push them away from intimacy and emotionality.
  • in many ways this environment has apparently had the opposite effect — it has shut them down even further.
  • The micro-generation that was just hitting puberty as the #MeToo movement exploded in 2017 is now of college (and voting) age. They have lived their whole adolescence not just in the digital era, with a glorious array of virtual options to avoid the angst of real-world socializing, but also in the shadow of a wider cultural reckoning around toxic masculinity.
  • We have spent the past half-decade wrestling with ideas of gender and privilege, attempting to challenge the old stereotypes and power structures. These conversations should have been an opportunity to throw out the old pressures and norms of manhood, and to help boys and men be more emotionally open and engaged.
  • in screen-addicted, culture war-torn America, we have also added new ones.
  • For many progressives, weary from a pileup of male misconduct, the refusal to engage with men’s feelings has now become almost a point of principle
  • For every right-wing tough guy urging his crying son to “man up,” there’s a voice from the left telling him that to express his concerns is to take airtime away from a woman or someone more marginalized
  • In many cases, the same people who are urging boys and men to become more emotionally expressive are also taking a moral stand against hearing how they actually feel
  • For many boys, it can seem as though their emotions get dismissed by both sides. This political isolation has combined with existing masculine norms to push a worrying number of boys into a kind of resentful, semi-politicized reclusion.
  • Over a quarter of men under 30 say they have no close friends
  • Teenage boys now spend two hours less a week socializing than girls and they also spend about seven hours more per week than their female peers on screens.
  • my own research has fed my fears.
  • the same theme came up over and over for boys who on the face of it had little else in common. They were lonely.
  • almost all of them had the nagging sense that something important was missing in those friendships. They found it almost impossible to talk to their male peers about anything intimate or express vulnerability.
  • One teenager described his social circle, a group of boys who had been best friends since kindergarten, as a “very unsupportive support system.” Another revealed that he could recall only one emotionally open conversation with a male friend in his life, and that even his twin brother had not seen him cry in years
  • they felt unable to articulate this pain or seek help, because of a fear that, because they were boys, no one would listen.
  • As one 20-year-old put it, “If a man voices any concern, they get deflected with all of their so-called privileges.” He added: “They’d be like, ‘Whatever. Women have suffered more than you, so you have no right to complain.’”
  • Almost without exception, the boys I talked to craved closer, more emotionally open relationships, but had neither the skills nor the social permission to change the story.
  • Perhaps it’s not surprising that boys don’t know how to listen and engage with their friends’ emotions on any deeper level; after all, no one really engages with theirs.
  • in a sexist society, male opinions hold outsized value. But the world — including their own parents — has less time for their feelings.
  • One study from 2014 showed that parents were more likely to use emotional words when talking with their 4-year-old daughters than those speaking to their 4-year-old sons.
  • A more recent study comparing fathers of boys with fathers of girls found that fathers of boys were less attentively engaged with their boys, spent less time talking about their son’s sad feelings and instead were more likely to roughhouse with them. They even used subtly different vocabularies when talking with boys, with fewer feelings-centered words, and more competition and winning-focused language.
  • Spend any time in the manosphere, and it’s easy to start to hate men and boys. The extreme misogyny, the gleeful hate speech, the violent threats and thrum of menace make it hard to summon much sympathy for male concerns, and easy to forget the ways that patriarchy harms them, too.
  • in the grip of the culture wars, caring about boys has become subtly coded as a right-wing cause,
  • Men have had way more than their fair share of our concern already, the reasoning goes, and now it’s time for them to pipe down
  • But for boys, privilege and harm intertwine in complex ways — male socialization is a strangely destructive blend of indulgence and neglect. Under patriarchy, boys and men get everything, except the thing that’s most worth having: human connection.
  • The prescription for creating a generation of healthier, more socially and emotionally competent men is the same in the wider political discourse as it is in our own homes — to approach boys generously rather than punitively
  • We need to acknowledge boys’ feelings, to talk with our sons in the same way we do our daughters, to hear them and empathize rather than dismiss or minimize, and engage with them as fully emotional beings.
Javier E

The Normalization of the Exception - Homepage Christian Lammert - 0 views

  • There's now a disturbingly quick acceptance of the argument that "both sides are to blame." It was and remains the Republicans and Trump who have labeled the media as enemies of the people, politicians and refugees as vermin, and have spoken of bloodshed should Trump lose again in the next election. This discourse sharply contrasts with that of Democratic elites and Biden, who critique President Trump based on his policies (see Project 2025), labeling him a potential dictator and a threat to democracy. This critique remains within the bounds of normal political discourse and does not dehumanize political opponents or other demographic groups, as Trump's rhetoric frequently does. Such rhetoric has become "normal" and mainstream within the Republican Party but remains either non-existent or exceptionally rare among Democrats. This clearly indicates an asymmetric radicalization of our political discourse.
  • The ideological positioning of the two parties also reflects this asymmetry. Empirical analyses by notable U.S. political scientists show that the Republicans have moved significantly further to the right ideologically compared to the leftward shift of the Democrats. In certain segments, the ideological positions of MAGA representatives in Congress no longer fit within this spectrum, having departed from democratic norms.
  • Republicans have successfully shifted the discourse to place equal blame on both sides for polarization and radicalization, but this narrative does not reflect reality and must be addressed. It is the right-wing political spectrum and its associated media network that questions fundamental pillars of democracy and the rule of law. Similar challenges are not found within the left-wing political spectrum
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  • What the Republicans denounce as Marxist or socialist would be considered moderate social democracy in Germany. Since the 1980s and 1990s, with figures like Pat Buchanan and Newt Gingrich, political radicalization has been a deliberate strategy to mobilize their voter base. Right-wing media significantly amplify this strategy. Without understanding this context, meaningful solutions to the problem cannot be found
  • Currently, it is the right that is mounting a fundamental assault on the system of checks and balances in the United States. They seek to greatly enhance the powers of the executive branch through the presidency, drastically reduce the size of the administration while ensuring loyalty to the president, expand presidential influence over the judiciary, and eliminate the independence of law enforcement and security agencies. These goals run counter to longstanding U.S. political traditions and the ideas of the Founding Fathers.
Javier E

'Emancipation' Review: Abolition and Its Aftermath - WSJ - 0 views

  • At roughly the same time, in the early 1860s, the U.S. liberated nearly four million enslaved black Americans, and Alexander II of Russia freed some 23 million serfs.
  • “In many ways, Russian serfdom was similar to American slavery,” writes Mr. Kolchin, a history professor emeritus at the University of Delaware. “They had similar lifespans, emerging in the sixteenth and seventeenth centuries, growing and solidifying over the course of the eighteenth century, reaching maturity in the early nineteenth century, and perishing in the 1860s.”
  • In both countries, emancipation initially seemed to herald a heyday of even greater reforms as stagnant, hierarchical societies based on compulsory labor appeared to be ready to reinvent themselves as vibrant ones celebrating free labor and free markets.
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  • Russian peasants were awarded possession of land they had worked as serfs (although it was not free), while their former overlords received millions of rubles in compensation from the czarist government.
  • Southern slave owners, by contrast, who after all had been the backbone of a treasonous rebellion, received nothin
  • Their freed people, meanwhile, were abruptly thrown into the individualistic, sink-or-swim maelstrom of mid-19th-century America. They had few resources and little guidance, except from the short-lived Freedmen’s Bureau. The laissez-faire values that informed the era of Reconstruction, Mr. Kolchin writes, “implied an unwillingness to intervene on behalf of the freedpeople except in extraordinary circumstances.”
  • Former serfs were better protected, but less free. They were expected to remain in their established villages, and their ability to move required approval from local authorities. Although well-intentioned structures for peasant self-government were formed, they were expected to function by consensus and proved, often disastrously, inefficient
  • In the U.S., by contrast, former slaves showed an astonishing enthusiasm for political participation, elevating as many as 2,000 blacks to positions of responsibility in a multitude of local offices, in state legislatures and even in the U.S. Congress
  • Former serfs were never regarded as a race apart from other Russians, although they were, like American blacks, subjected to demeaning stereotypes, viewed as too lazy, immoral and stupid to be responsible for themselves.
  • Russia’s “reconstruction,” like America’s, tapered off in the 1870s as official support for the painstaking process of emancipation faded. In both cases, “enormous expectations . . . were soon dashed,
  • “A generation after emancipation, pervasive disillusionment characterized Russia and the Southern United States,” Mr. Kolchin says. Feelings of hope had been “replaced by widespread disillusionment, cynicism, and despair.”
  • Despite such retrenchment, there were important gains: in the American South, educational opportunity, strengthened family ties, varied forms of employment and land ownership
  • in Russia, land ownership and the strengthening of communal organizations.
  • Southern blacks officially received full civil and political rights, which were never on offer for the former serfs. Those rights would, of course, be largely stripped away by resurgent white reactionaries until they were recovered by the civil-rights movement of the 1960s
  • Judged from our present vantage, the American emancipation may sometimes appear timid, but it was radical indeed for its time and considerably more so than czarist Russia’s version.
  • Mr. Kolchin delivers the history of emancipation almost entirely from a top-down perspective, emphasizing the making of policy and the efforts to implement it
  • the history he recounts is an important one and often revelatory for those who may think of the emancipation of enslaved Americans as an almost unique event.
  • Mr. Kolchin also addresses, if mostly in passing, the emancipation of slaves elsewhere in the Americas, particularly in the British colonies, a mostly peaceful process mandated by an act of Parliament that encouraged the emancipation movement in the U.S. Several books in recent decades have addressed this once-neglected subject, such as Robin Blackburn’s magisterial 1988 study, “The Overthrow of Colonial Slavery: 1776-1848.”
  • it is impossible not to see that in both the U.S. and Russia the inability to continue the process of emancipation to its intended conclusion allowed democracy to be undermined for generations afterward. In the U.S., that failure led, for black Americans, to the grim century of Jim Crow repression and in Russia to a widespread sense of betrayal that would feed into the trauma of 20th-century revolution.
Javier E

From the Storm to the Stormtroopers - by Timothy Snyder - 0 views

  • And the day after tomorrow there will be no democracy and no country, just a politics of impotence and a fascist catastrophe.
  • Today, our American fascists blame the hurricanes on the meteorologists and disrupt the government response.  Tomorrow they will blame climate change on the climate scientists and deport their enemies of choice.
  • Trump and Vance are teaching us that the government cannot do anything except turn us against one another.  They do so by spreading disinformation about critical matters like hurricanes, so that people despise and disrupt the government, the only institution that can help.  This is impotence politics, and it leads to fascism. 
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  • In impotence politics, nothing is true except our emotions, and so we cannot see the sources of problems, and do not really expect to solve them.
  • Once we accept that government is useless, we respond to crisis by turning against one another.  Politics then begins not from improving life together but by choosing an enemy within. 
  • This is very comfortable for the impotence politicians, who rule not by addressing problems but by defining enemies. 
  • When there is a real problem, they will define enemies.
  • When there is not a real problem, as with the domestic animals of Springfield, Ohio, they will also define enemies.  From the pinnacle of politics they use their talents to turn us against one another
  • In a Trump-Vance impotence regime, America shifts then to fascism, in which it is no longer the law that matters, but the people, but only the people who are "the real people," the Volk
  • Politics is no longer government acting for them, but rather them acting for their rulers, following a script of us-and-them.  The political energy that was once resolved as policy as now spread as enmity.
  • The politics of impotence favors fascism in another way.  When we no longer believe in law and democracy, we still want to get things done, at least for ourselves.  And so we will have to find some way to appeal to the Leader personally: by paying a bribe to someone, by doing a special favor. 
  • Trump and Vance will suppress the science and blame the scientists.  The plan to fire all the meteorologists is already there. Project 2025 will eliminate the National Weather Service and make climate change a taboo subject inside the federal government.  This direct courting of death is itself quite fascist.
  • as climate change worsens, the fascism will worsen too.  This is the politics of catastrophe, which is where we are heading next.  When we face a truly existential problem, and when our politics is not about policy but about enmity, we will blame the victims. 
  • This has already started.  Climate change affects people to the south of the United States first
  • Our choice to warm the climate guarantees more attempted migration.  And when it comes, the politicians of impotence will just blame the migrants.  Their answer to everything will be deportation. 
  • And the attempt to deport millions of people will of course turn Americans against one another
  • The only way to organize such a mass deportation will be to to call on citizens to denounce their neighbors, and to deputize tens of thousands of local authorities for the manhunt.  And so we move from the storm to the stormtroopers.
  • None of this is speculative.  It is the plain reading of the Trump-Vance campaign
  • And none of this is new.  Hitler too denied the science that would have solved the basic problems of survival; Hitler too promoted ecological crisis as a reason for race war; Hitler too started from mass deportations of migrants (largely carried out by a non-governmental actor deputized for the purpose, the SS). 
  • The logic of fascism is known to us from history.  And if we don't avert our eyes, we see how that logic can play out in the future.
  • History can help us to see, but history will not do the work for us. We need to make history ourselves, in the name of a better future
Javier E

Fareed Zakaria on the Age of Revolutions, the Power of Ideas, and the Rewards of Intell... - 0 views

  • ZAKARIA: Yes. I think I’ve always been intellectually very curious. I don’t think I’m the smartest person in the world, but I am very intellectually curious. I get fascinated by ideas and why things are some way. Even when I was very young, I remember I would read much more broadly than my peers.
  • I think I looked this up once, but Henry Kissinger’s memoirs came out when I was 14, I think. I remember reading them because I remember my mom — at that point, she was working at the Times of India. They excerpted it. I remember telling her that they had chosen some of the wrong excerpts, that there were other parts that would have been better. I must have read enough of it to have had an opinion.
  • The Bengali intelligentsia was the great intelligentsia of India, probably the most literate, the most learned. I think it’s because they’re very clever. One of the things I’ve always noticed is that people who are very clever political elites tend to think that they should run the economy because they can do it better than the market.
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  • a lot of people who came out of third-world countries felt, “We are never going to catch up with the West if we just wait for the market to work its way over hundreds of years.” They looked at, in the ’30s, the Soviet Union and thought, “This is a way to accelerate modernization, industrialization.” They all were much more comfortable with the idea of something that sped up the historical process of modernization.
  • Milton Friedman used to say that there are two groups of people who don’t like the free market. Academics, intellectuals because they think they can do it better than the market, and businessmen because they don’t like competition. What they really want — this is a variation of the Peter Thiel argument — what they all really want is to be monopolists. That former part is, I think, what explains the Bengali intellectuals.
  • I think that the reality is, the market is much more powerful than they are in these areas. To give you one simple example, they decided, “Okay, we need to be making high-end chips.” Who do they bet on? They bet on Intel, a company that has failed miserably to compete with TSMC, the great Taiwanese chip manufacturer. Intel is now getting multi-billion-dollar grants from the United States government, from the European Union, because it fills all the categories that you’re looking for: big company, stable and well-run, in some sense, can guarantee a lot of jobs.
  • But of course, the reality is that chip making is so complicated
  • Who knew that, actually, it’s Nvidia, whose chips turned out to be designed for gaming, turned out to be ideal for artificial intelligence? That’s a perfect example of how the Hayekian market signals that come bottom-up are much more powerful than a political elite who tries to tell you what it is.
  • COWEN: What did you learn from the Anglican Book of Common Prayer?
  • One was a reverence for tradition, and in particular, I loved the hymnal. I think Britain’s great contribution to music is religious music. It doesn’t have anything to compete with the Germans and the Italians in opera and things like that. Religious music, I think the Brits and the English have done particularly well.
  • The second thing I would say is an admiration for Christianity for its extraordinary emphasis on being nice to people who have not been lucky in life. I would say that’s, to me, the central message of Christianity that I take, certainly from the Sermon on the Mount, and it’s imbued through the Book of Common Prayer: to be nice to the people who have been less fortunate than you. Be nice to poor people. Recognize that in God’s kingdom, the first shall be last and the last shall be first.
  • There is an enormous emphasis on the idea that those things that make you powerful in this world are not the things that really matter, that your dignity as a human being doesn’t come from that. I think that’s a very powerful idea. It’s a very revolutionary idea
  • Tom Holland has a very good book about this. He’s a wonderful historian in Britain. I think it’s called Dominion.
  • He points out what a revolutionary idea this was. It completely upended the Roman values, which were very much, the first shall be first. The powerful and the rich are the ones to be valued. He points out, here is this Jewish preacher coming out of the Middle East saying, “No, the first shall be last, the last shall be first in the kingdom of heaven.”
  • COWEN: I went to Amritsar the year before, and it was one of the most magical feelings I’ve ever had in any place. I’m still not sure what exactly I can trace it to — I am not a Sikh, of course. But what, for you, accounts for the strong, powerful, wondrous feeling one gets from that place?
  • I think there’s something about it architecturally, which is that there is a serenity about it. Sometimes you can find Hindu temples that are very elaborate. Sikhism is a kind of offshoot of Hinduism. The Hindu temples can be very elaborate, but very elaborate and ornate. This somehow has a simplicity to it. When you add to that the water — I’ve always thought that water adds an enormously calming effect
  • Hindi and Urdu are two Indian languages, very related. They both have roughly the same grammatical structure, but then Hindi derives its vocabulary entirely from Sanskrit, or almost entirely from Sanskrit, and Urdu derives its vocabulary almost entirely from Persian. Urdu is a language of Indian Muslims and is the official language for Pakistan. It’s a beautiful language, very lyrical, very much influenced by that Persian literary sensibility.
  • If you’re speaking one of the languages, there’s a way to alternate between both, which a lot of Indian politicians used to do as a way of signaling a broad embrace of both the Hindu and the Muslim communities. Nehru, India’s first prime minister, used to often do that. He would say, “I am delighted to be coming here to your home.” He’d repeat the word home, first in Urdu, then in Hindi, so that in effect, both constituencies were covered.
  • Modi, by contrast, India’s current prime minister, is a great Hindu nationalist. He takes pains almost never to use an Urdu word when he speaks. He speaks in a kind of highly Sanskritized Hindi that most Indians actually find hard to understand because the everyday language, Bollywood Hindi, is a mixture of Hindi words and Urdu words
  • I think the partition of India was a complete travesty. It was premised on this notion of religious nationalism. It was horrendously executed. The person who drew the lines, a man named Radcliffe, had never been to India. He’d never been east of the Suez and was given this task, and he did it in a month or two, probably caused a million-and-a-half to two million lives lost, maybe 10 million people displaced. It broke that wonderfully diverse, syncretic aspect of India.
  • If you look at cities like Delhi and Lahore, what was beautiful about them is that they mix together all the influences of India: Hindu, Muslim, Punjabi, Sindhi. Now what you have is much more bifurcated. If you go to Lahore, Lahore is a Muslim city in Pakistan, and it has a Punjabi influence. Delhi has become, essentially, much more Indian and Hindu and has lost that Muslim influence. To me, as somebody who really loves cosmopolitanism and diversity, it’s sad to see that. It’s almost like you’ve lost something that really made these places wonderfully rich.
  • I feel the same way when you read about the history of Europe. You think of a place like Vienna, which, in its most dazzling moment, was dazzling precisely because it was this polyglot population of people coming from all over the Habsburg Empire. A large segment of it was Jewish, and it had, as a result — think about Freud and Klimt and the music that came out of there, and the architecture that came out at the turn of the 19th century. And it’s all gone. It’s like, at this point, a somewhat beautiful but slightly dull Austrian city.
  • I remember once being asked when I was a graduate student at Harvard — Tony Lake was then national security adviser, and his office called and said — I’d written something in the New York Times, I think — “Mr. Lake would like you to come to the White House to brief him.”
  • I think, in a sense, Islam fit in within that tapestry very easily, and it’s been around for a while. When people talk about cleansing India, Hindu nationals talk about cleansing India of foreign influences. Islam has been in India since the 11th century, so it’s been around for a long time
  • I was amazed that America — it wasn’t America; it was where I was at Yale and Harvard and all that — that nobody cared where I came from. Nobody cared.
  • the syncretic nature of India, that India has always been diverse. Hinduism is very tolerant. It’s a kind of unusual religion in that you can believe in one god and be Hindu. You can believe in 300. You can be vegetarian and believe that’s a religious dictate. You can be nonvegetarian and believe that that’s completely compatible with your religion. It’s always embraced almost every variant and variation.
  • I walked in and there were five people around the table: Tony Lake; Deputy National Security Advisor Sandy Berger; George Stephanopoulos, who was then director of communications at the White House; Joe Nye, who was a senior professor at Harvard; one other person; and myself. And I kept thinking to myself, “Are they going to realize at some point that I’m not an American citizen? They’re asking me for my advice on what America should do, and I am on a student visa.” And of course, nobody ever did, which is one of the great glories of America.
  • My thesis topic was, I tried to answer the question, when countries rise in great power, when they rise economically, they become great powers because they quickly translate that economic power into diplomatic and military power. What explains the principal exception in modern history, which is the United States?
  • My simple answer was that the United States was a very unusual creature in the modern world. It was a very strong nation with a very weak state. The federal government in the United States did not have the capacity to extract the resources from the society at large because you didn’t have income taxes in those days.
  • COWEN: What put you off academia? And this was for the better, in my view.
  • ZAKARIA: I think two things. One, I could see that political science was moving away from the political science that I loved, which was a broad discipline rooted in the social sciences but also rooted in the humanities, which was rigorous, structural, historical comparisons. Looking at different countries, trying to understand why there were differences.
  • It was moving much more toward a huge emphasis on things like rational choice, on game theory There was an economist envy. Just as economists have math envy, political scientists have economist envy. It was moving in that direction
  • COWEN: After 9/11 in 2001, you wrote a famous essay for Newsweek, “Why Do They Hate Us?” You talked about the rulers, failed ideas, religion. If you were to revise or rethink that piece today, how would you change it? Because we have 23 more years of data, right?
  • He had a routine, which is, he’d get up about 6:00 a.m. He’d go down to the basement of his townhouse, and at 6:30, he would start writing or working on whatever his next big research project was. He’d do that, uninterrupted, for three hours at least, sometimes four. Then, at about 9:30, 10:00, he would take the subway to Harvard.
  • His point was, you got to start the day by doing the important work of academia, which is producing knowledge. All the rest of it — teaching, committee meetings, all that — you can do later. He was so disciplined about that, that every five years or so, he put out another major piece of work, another major book
  • I looked at that, and I said to myself, I do not have the self-discipline to perform at that level. I need to go into something that has deadlines,
  • It’s all within you, and you have to be able to generate ideas from that lonely space. I’ve always found that hard. For me, writing books is the hardest thing I do. I feel like I have to do it because I feel as though everything else is trivia — the television, column, everything else.
  • The second piece of it was actually very much related to Huntington. Sam Huntington was quite an extraordinary character, probably the most important social scientist in the second half of the 20th century. Huge contributions to several fields of political science. He lived next to me
  • ZAKARIA: Yes. Not very much, honestly. The central point I was making in that essay was that if you look at the Arab world, it is the principal outlier in the modern era, where it has undergone almost no political modernization.
  • The Arab world had remained absolutely static. My argument was that it was largely because of the curse of oil and oil wealth, which had impeded modernization. But along with that, because of that failed modernization, they had developed this reactionary ideology of Islam, which said the answer is to go further back, not to go forward. “Islam is the solution,” was the cry of the Islamic fundamentalists in the 1970s.
  • COWEN: I’m struck that this year, both you and Ruchir Sharma have books coming out — again, Fareed’s book is Age of Revolutions: Progress and Backlash from 1600 to the Present — that I would describe broadly as classically liberal. Do you think classical liberalism is making a comeback
  • the reason these books are coming out — and certainly, mine, as you know, is centrally occupied with the problem that there’s a great danger that we are going to lose this enormous, probably the most important thing that’s happened in the last 500, 600 years in human history, this movement that has allowed for the creation of modern liberal democratic societies with somewhat market economies.
  • If you look at the graph of income, of GDP, per capita GDP, it’s like a straight line. There’s no improvement until you get to about, roughly speaking, the 17th, 18th century in Europe, and then you see a sharp uptick. You see this extraordinary rise, and that coincides with the rise of science and intellectual curiosity and the scientific method, and the industrial revolution after that. All that was a product of this great burst of liberal Enlightenment thinking in the West.
  • If you think about what we’ve gone through in the last 30 years — and this is really the central argument in my book — massive expansion of globalization, massive expansion of information technology so that it has completely upended the old economy. All of this happening, and people are overwhelmed, and they search in that age of anxiety. They search for a solution, and the easy solutions are the ones offered by the populists.
  • They’re deeply anti-liberal, illiberal. So, I worry that, actually, if we don’t cherish what we have, we’ll lose what has been one of the great, great periods of progress in human history.
  • COWEN: Why does your book cover the 17th-century Dutch Golden Age? ZAKARIA: The Dutch are the first modern country. If you think about politics before that — certainly with the exception of ancient Greece and Rome — in modern history, the Dutch invent modern politics and economics. They invent modern politics in the sense that it’s the first time politics is not about courts and kings. It is about a merchant republic with powerful factions and interest groups and political parties, or the precursor to political parties.
  • It’s the beginning of modern economics because it’s economics based not simply on land and agriculture, but on the famous thing that John Locke talked about, which is mixing human beings’ labor with the land. The Dutch literally do this when they reclaim land from the sea and find ways to manage it, and then invent tall ships, which is, in some ways, one of the first great technological revolutions that has a direct economic impact.
  • You put all that together, and the Dutch — they become the richest country in the world, and they become the leading technological power in the world. It was very important to me to start the story — because they are really the beginnings of modern liberalism
  • COWEN: Circa 1800, how large were the Chinese and Indian economies?
  • Circa 1800, the Chinese and Indian economies are the two largest economies in the world, and people have taken this to mean, oh, the West had a temporary spurt because of colonies and cheap energy, and that the Chinese and Indians are just coming back to where they were.
  • First of all, the statistic is misleading because in those days, GDP was simply measured by using population. All society was agricultural. The more people you had, the larger your GDP. It was meaningless because the state could not extract that GDP in any meaningful way, and it’s meaningless because it doesn’t measure progress. It doesn’t measure per capita GDP growth, which is the most important thing to look at.
  • If you look at per capita GDP growth from 1350 to 1950, for 600 years, India and China have basically no movement. It’s about $600 in 1350 and $600 in 1950. The West, by comparison, moves up 600 percent in that period. It’s roughly $500 per capita GDP to roughly $5,000 per capita GDP.
  • You can also look at all kinds of other measures. You can look at diet. There are economic historians who’ve done this very well, and people in England were eating four to five times as much grain and protein as people in China and India. You can look at the extraordinary flourishing of science and engineering. You can look at the rise of the great universities. It’s all happening in the West.
  • The reason this is important is, people need to understand the rise of the West has been a very profound, deep-rooted historical phenomenon that began sometime in the 15th century. The fact that we’re moving out of that phase is a big, big deal. This is not a momentary blip. This is a huge train. The West define modernity. Even when countries try to be modern, they are in some way becoming Western because there is no path we know of to modernity without that.
  • One other way of just thinking about how silly that statistic is: in pure GDP terms, China had a larger GDP than Britain in 1900. Now, look at Britain in 1900: the most advanced industrial society in the world, ruling one-quarter of the world, largest navy in the world, was able to humiliate China by using a small fraction of its military power during the opium era. That’s what tells you that number is really meaningless. The West has been significantly more advanced than the rest of the world since the 16th century at least.
Javier E

E-Notes: Nightmares of an I.R. Professor - FPRI - 0 views

  • the British, during their late Victorian heyday, believed theirs was the exceptional Land of Hope and Glory, a vanguard of progress and model for all nations.[3] Can it be—O scary thought—that the same faith in Special Providence that inspires energy, ingenuity, resilience, and civic virtue in a nation, may also tempt a people into complacency, arrogance, self-indulgence, and civic vice?
  • what Americans believe about their past is always a powerful influence on their present behavior and future prospects. No wonder we have “culture wars” in which the representation of history is a principal stake.
  • my study of European international relations naturally inclined me to think about foreign policy in terms of Realpolitik, balance of power, geography, contingency, tragedy, irony, folly, unintended consequences, and systemic interaction—all of which are foreign if not repugnant to Americans.
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  • Times were certainly very good in the decade after the 1991 Soviet collapse ended the fifty year emergency that began with Pearl Harbor. So if one accepts my definition of a conservative as “someone who knows things could be worse than they are-period,” then conservatism was never more apt
  • the “third age” neoconservatives ensconced at The Weekly Standard, Commentary, and various think tanks thought Promised Land, Crusader State decidedly inconvenient. They wanted Americans to believe that the United States has always possessed the mission and duty to redeem the whole world by exertion as well as example, and that any American who shirks from that betrays the Founders themselves.[13] They were loudly decrying cuts in defense spending as unilateral disarmament, likening U.S. policies to Britain’s lethargy in the 1930s, and warning of new existential threats on the horizon.
  • what national assets must the United States husband, augment if possible, and take care not to squander? My list was as follows: (1) a strong economy susceptible only to mild recession; (2) robust armed forces boasting technical superiority and high morale designed for winning wars; (3) presidential leadership that is prudent, patriotic, and persuasive; (4) a bipartisan, internationalist consensus in Congress; (5) sturdy regional alliances; (6) engagement to promote balance of power in Europe, East Asia, and the Middle East; (7) strong Pan-American ties to secure of our southern border.
  • t the shock of the 9/11 attacks and the imperative duty to prevent their repetition caused the Bush administration to launch two wars for regime change that eventuated in costly, bloody occupations belatedly devoted to democratizing the whole Middle East. Thus did the United States squander in only five years all seven of the precious assets listed in my 1999 speech.
  • When the other shoe dropped—not another Al Qaeda attack but the 2008 sub-prime mortgage collapse—Americans wrestled anew with an inconvenient truth. Foreign enemies cannot harm the United States more than Americans harm themselves, over and over again, through strategic malpractice and financial malfeasance.
  • Unfortunately, in an era of interdependent globalization vexed by failed states, rogue regimes, ethnic cleansing, sectarian violence, famines, epidemics, transnational terrorism, and what William S. Lind dubbed asymmetrical “Fourth Generation Warfare,” the answer to questions about humanitarian or strategic interventions abroad can’t be “just say no!” For however often Americans rediscover how institutionally, culturally, and temperamentally ill-equipped they are to do nation-building, the United States will likely remain what I (and now Robert Merry) dubbed a Crusader State.
  • the urgent tasks for civilian and military planners are those of the penitent sinner called to confess, repent, and amend his ways. The tasks include refining procedures to coordinate planning for national security so that bureaucratic and interest-group rivalries do not produce “worst of both worlds” outcomes.[22] They include interpreting past counter-insurgencies and postwar occupations in light of their historical particularities lest facile overemphasis on their social scientific commonalities yield “one size fits all” field manuals
  • they include persuading politicians to cease playing the demagogue on national security and citizens to cease imagining every intervention a “crusade” or a “quagmire”
Javier E

David Stockman: Mitt Romney and the Bain Drain - Newsweek and The Daily Beast - 1 views

  • Is Romney really a job creator? Ronald Reagan’s budget director, David Stockman, takes a scalpel to the claims.
  • Bain Capital is a product of the Great Deformation. It has garnered fabulous winnings through leveraged speculation in financial markets that have been perverted and deformed by decades of money printing and Wall Street coddling by the Fed. So Bain’s billions of profits were not rewards for capitalist creation; they were mainly windfalls collected from gambling in markets that were rigged to rise.
  • Mitt Romney claims that his essential qualification to be president is grounded in his 15 years as head of Bain Capital, from 1984 through early 1999. According to the campaign’s narrative, it was then that he became immersed in the toils of business enterprise, learning along the way the true secrets of how to grow the economy and create jobs. The fact that Bain’s returns reputedly averaged more than 50 percent annually during this period is purportedly proof of the case
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  • Except Mitt Romney was not a businessman; he was a master financial speculator who bought, sold, flipped, and stripped businesses. He did not build enterprises the old-fashioned way—out of inspiration, perspiration, and a long slog in the free market fostering a new product, service, or process of production. Instead, he spent his 15 years raising debt in prodigious amounts on Wall Street so that Bain could purchase the pots and pans and castoffs of corporate America, leverage them to the hilt, gussy them up as reborn “roll-ups,” and then deliver them back to Wall Street for resale—the faster the better.
  • That is the modus operandi of the leveraged-buyout business, and in an honest free-market economy, there wouldn’t be much scope for it because it creates little of economic value. But we have a rigged system—a regime of crony capitalism—where the tax code heavily favors debt and capital gains, and the central bank purposefully enables rampant speculation by propping up the price of financial assets and battering down the cost of leveraged finance.
  • So the vast outpouring of LBOs in recent decades has been the consequence of bad policy, not the product of capitalist enterprise. I know this from 17 years of experience doing leveraged buyouts at one of the pioneering private-equity houses, Blackstone, and then my own firm. I know the pitfalls of private equity. The whole business was about maximizing debt, extracting cash, cutting head counts, skimping on capital spending, outsourcing production, and dressing up the deal for the earliest, highest-profit exit possible. Occasionally, we did invest in genuine growth companies, but without cheap debt and deep tax subsidies, most deals would not make economic sense.
  • In truth, LBOs are capitalism’s natural undertakers—vulture investors who feed on failing businesses. Due to bad policy, however, they have now become monsters of the financial midway that strip-mine cash from healthy businesses and recycle it mostly to the top 1 percent.
  • Accordingly, Bain’s returns on the overwhelming bulk of the deals—67 out of 77—were actually lower than what a passive S&P 500 indexer would have earned even without the risk of leverage or paying all the private-equity fees. Investor profits amounted to a prosaic 0.7X the original investment on these deals and, based on its average five-year holding period, the annual return would have computed to about 12 percent—well below the 17 percent average return on the S&P in this period.
  • having a trader’s facility for knowing when to hold ’em and when to fold ’em has virtually nothing to do with rectifying the massive fiscal hemorrhage and debt-burdened private economy that are the real issues before the American electorate
  • Indeed, the next president’s overriding task is restoring national solvency—an undertaking that will involve immense societywide pain, sacrifice, and denial and that will therefore require “fairness” as a defining principle. And that’s why heralding Romney’s record at Bain is so completely perverse. The record is actually all about the utter unfairness of windfall riches obtained under our anti-free market regime of bubble finance.
  • When Romney opened the doors to Bain Capital in 1984, the S&P 500 stood at 160. By the time he answered the call to duty in Salt Lake City in early 1999, it had gone parabolic and reached 1270. This meant that had a modern Rip Van Winkle bought the S&P 500 index and held it through the 15 years in question, the annual return (with dividends) would have been a spectacular 17 percent. Bain did considerably better, of course, but the reason wasn’t business acumen.
  • The credentials that Romney proffers as evidence of his business acumen, in fact, mainly show that he hung around the basket during the greatest bull market in recorded history.
  • The Wall Street Journal examined 77 significant deals completed during that period based on fundraising documents from Bain, and the results are a perfect illustration of bull-market asymmetry. Overall, Bain generated an impressive $2.5 billion in investor gains on $1.1 billion in investments. But 10 of Bain’s deals accounted for 75 percent of the investor profits.
  • The secret was leverage, luck, inside baseball, and the peculiar asymmetrical dynamics of the leveraged gambling carried on by private-equity shops. LBO funds are invested as equity at the bottom of a company’s capital structure, which means that the lenders who provide 80 to 90 percent of the capital have no recourse to the private-equity sponsor if deals go bust. Accordingly, LBO funds can lose 1X (one times) their money on failed deals, but make 10X or even 50X on the occasional “home run.” During a period of rising markets, expanding valuation multiples, and abundant credit, the opportunity to “average up” the home runs with the 1X losses is considerable; it can generate a spectacular portfolio outcome.
  • By contrast, the 10 home runs generated profits of $1.8 billion on investments of only $250 million, yielding a spectacular return of 7X investment. Yet it is this handful of home runs that both make the Romney investment legend and also seal the indictment: they show that Bain Capital was a vehicle for leveraged speculation that was gifted immeasurably by the Greenspan bubble. It was a fortunate place where leverage got lucky, not a higher form of capitalist endeavor or training school for presidential aspirants.
  • The startling fact is that four of the 10 Bain Capital home runs ended up in bankruptcy, and for an obvious reason: Bain got its money out at the top of the Greenspan boom in the late 1990s and then these companies hit the wall during the 2000-02 downturn, weighed down by the massive load of debt Bain had bequeathed them. In fact, nearly $600 million, or one third of the profits earned by the home-run companies, had been extracted from the hide of these four eventual debt zombies.
  • The bankruptcy forced the closure of about 250—or 40 percent—of the company’s stores and the loss of about 5,000 jobs. Yet the moral of the Stage Stores saga is not simply that in this instance Bain Capital was a jobs destroyer, not a jobs creator. The larger point is that it is actually a tale of Wall Street speculators toying with Main Street properties in defiance of sound finance—an anti-Schumpeterian project that used state-subsidized debt to milk cash from stores that would not have otherwise survived on the free market.
  • Ironically, the businesses and jobs that Staples eliminated were the office-supply counterparts of the cracker-box stores selling shoes, shirts, and dresses that Bain kept on artificial life-support at Stage Stores Inc. At length, Wal-Mart eliminated these jobs and replaced them with back-of–the-store automation and front-end part-timers, as did Staples, which now has 40,000 part-time employees out of its approximate 90,000 total head count. The pointless exercise of counting jobs won and lost owing to these epochal shifts on the free market is obviously irrelevant to the job of being president, but the fact that Bain made $15 million from the winner and $175 million from the loser is evidence that it did not make a fortune all on its own. It had considerable help from the Easy Button at the Fed.
  • The lesson is that LBOs are just another legal (and risky) way for speculators to make money, but they are dangerous because when they fail, they leave needless economic disruption and job losses in their wake. That’s why LBOs would be rare in an honest free market—it’s only cheap debt, interest deductions, and ludicrously low capital-gains taxes that artifically fuel them.
  • The larger point is that Romney’s personal experience in the nation’s financial casinos is no mark against his character or competence. I’ve made money and lost it and know what it is like to be judged. But that experience doesn’t translate into answers on the great public issues before the nation, either. The Romney campaign’s feckless narrative that private equity generates real economic efficiency and societal wealth is dead wrong.
  • The Bain Capital investments here reviewed accounted for $1.4 billion or 60 percent of the fund’s profits over 15 years, by my calculations. Four of them ended in bankruptcy; one was an inside job and fast flip; one was essentially a massive M&A brokerage fee; and the seventh and largest gain—the Italian Job—amounted to a veritable freak of financial nature.
  • In short, this is a record about a dangerous form of leveraged gambling that has been enabled by the failed central banking and taxing policies of the state. That it should be offered as evidence that Mitt Romney is a deeply experienced capitalist entrepreneur and job creator is surely a testament to the financial deformations of our times.
Javier E

What the Church Needs Now - NYTimes.com - 0 views

  • Francis’s reign will be a success if it begins to restore the moral credibility of the church’s hierarchy and clergy, and it will be a failure if it does not.
  • In that culture — our culture — priestly sex abuse and corruption in the Vatican aren’t just seen as evidence that all men are sinners. They’re seen as evidence that the church has no authority to judge what is and isn’t sin, that the renunciation Catholicism preaches mostly warps and rarely fulfills, and that the world’s approach to sex (and money, and ambition) is the only sane approach there is.
  • Our age is still religious; it’s just made its peace with human appetites and all the varied ways they intertwine. From the sermons of Joel Osteen to the epiphanies of “Eat, Pray, Love,” our spiritual oracles still urge us to seek the supernatural, the numinous, the divine. They just dismiss the idea that the divine could possibly want anything for us except for what we already want for ourselves.
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  • Religion without renunciation has obvious appeal. But its cultural consequences are not all self-evidently positive. Absent ideals of chastity, people are less likely to form families. Absent ideals of solidarity, more people live and age and die alone. The social landscape that we take for granted is one that many earlier generations would have regarded as dystopian: sex and reproduction have both been ruthlessly commodified, adult freedoms are enjoyed at the expense of children’s interests, fewer children grow up with both a mother and a father, and fewer and fewer children are even born at all.
  • If Catholicism has a future in the Western world as something more than a foil, an Other and a symbol of the Benighted Past We Have Safely Left Behind, it needs its leaders to set an example that proves these voices wrong. Before anything else, that requires a generation of priests and bishops who hold themselves to a higher standard — higher than their immediate predecessors, and higher than the world.
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