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The 88-year-old, rarely seen in public since his resignation in 2013, walked with a cane and the help of longtime aide.

Salvation is offered to every human, to every people, without exception, to each of us," Pope Francis said during the ceremony, according to Vatican Radio. "None of us can say, 'I am holy, I am perfect, I am already saved.'

Until 1975, the Holy Doors in Rome were enclosed by a cement wall that the pope broke down using a hammer. When cement fragments fell too close to Pope Paul VI during the opening of the Holy Door on Christmas Eve in 1974, this practice was abandoned, and now bronze doors have replaced the wall.

According to the Catholic Church, when you sin, you must go to confession and you are forgiven. But forgiveness only applies to the guilt of your sin; there may still be consequences of your sin that you may have to pay for in this life or after you die. An indulgence is a way to lessen that penalty.

To receive a full indulgence (called a plenary indulgence), you must:

Special sins

In the ensuing decades, the queen has become an irreplaceable figure in Britain, central to its self-identity.

That the queen made it to this Platinum Jubilee at all was far from given. She contracted the coronavirus in February and has talked about how the ordeal left her exhausted. She lost her husband, Prince Philip, last year, and her fragile health has forced her to cancel multiple public appearances, including two major events on the royal calendar: a remembrance service for the war dead and the state opening of Parliament.

“I like democracies, but I have a fascination with monarchical displays of power,” said Nichola Persic, an Italian exchange student who left his college in Canterbury, England, at dawn to stake out a position along the parade route. “And it’s nice to be a part of something people will remember.”

Strictly speaking, Elizabeth has not yet set the longevity record for any monarch.

He tries to break free of narrow specialization and cross the boundaries between scientific disciplines. Expeditions beyond economics’ borders and its connection to history, philosophy, psychology, and ancient myths are not only refreshing, but necessary for understanding the world of the twenty-first century.

Reality is spun from stories, not from material. Zdeněk Neubauer

“The separation between the history of a science, its philosophy, and the science itself dissolves into thin air, and so does the separation between science and non-science; differences between the scientific and unscientific are vanishing.”

The study of the history of a certain field is not, as is commonly held, a useless display of its blind alleys or a collection of the field’s trials and errors (until we got it right), but history is the fullest possible scope of study of a menu that the given field can offer.

History of thought helps us to get rid of the intellectual brainwashing of the age, to see through the intellectual fashion of the day, and to take a couple of steps back.

That is the reason for this book: to look for economic thought in ancient myths and, vice versa, to look for myths in today’s economics.

stories; Adam Smith believed. As he puts it in The Theory of Moral Sentiments, “the desire of being believed, or the desire of persuading, of leading and directing other people, seems to be one of the strongest of all our natural desires.”

“The human mind is built to think in terms of narratives … in turn, much of human motivation comes from living through a story of our lives, a story that we tell to ourselves and that creates a framework of our motivation. Life could be just ‘one damn thing after another’ if it weren’t for such stories. The same is true for confidence in a nation, a company, or an institution. Great leaders are foremost creators of stories.”

contrary to what our textbooks say, economics is predominantly a normative field. Economics not only describes the world but is frequently about how the world should be (it should be effective, we have an ideal of perfect competition, an ideal of high-GDP growth in low inflation, the effort to achieve high competitiveness …). To this end, we create models, modern parables,

I will try to show that mathematics, models, equations, and statistics are just the tip of the iceberg of economics; that the biggest part of the iceberg of economic knowledge consists of everything else; and that disputes in economics are rather a battle of stories and various metanarratives than anything else.

Before it was emancipated as a field, economics lived happily within subsets of philosophy—ethics, for example—miles away from today’s concept of economics as a mathematical-allocative science that views “soft sciences” with a scorn born from positivistic arrogance. But our thousand-year “education” is built on a deeper, broader, and oftentimes more solid base. It is worth knowing about.

is a paradox that a field that primarily studies values wants to be value-free. One more paradox is this: A field that believes in the invisible hand of the market wants to be without mysteries.

mathematics at the core of economics, or is it just the icing of the cake, the tip of the iceberg of our field’s inquiry?

we seek to chart the development of the economic ethos. We ask questions that come before any economic thinking can begin—both philosophically and, to a degree, historically. The area here lies at the very borders of economics—and often beyond. We may refer to this as protoeconomics (to borrow a term from protosociology) or, perhaps more fittingly, metaeconomics (to borrow a term from metaphysics).

The more important elements of a culture or field of inquiry such as economics are found in fundamental assumptions that adherents of all the various systems within the epoch unconsciously presuppose. Such assumptions appear so obvious that people do not know what they are assuming, because no other way of putting things has ever occurred to them, as the philosopher Alfred Whitehead notes in Adventures of Ideas.

I argue that economic questions were with mankind long before Adam Smith. I argue that the search for values in economics did not start with Adam Smith but culminated with him.

We should go beyond economics and study what beliefs are “behind the scenes,” ideas that have often become the dominant yet unspoken assumptions in our theories. Economics is surprisingly full of tautologies that economists are predominantly unaware of. I

argue that economics should seek, discover, and talk about its own values, although we have been taught that economics is a value-free science. I argue that none of this is true and that there is more religion, myth, and archetype in economics than there is mathematics.

In a way, this is a study of the evolution of both homo economicus and, more importantly, the history of the animal spirits within him. This book tries to study the evolution of the rational as well as the emotional and irrational side of human beings.

I argue that his most influential contribution to economics was ethical. His other thoughts had been clearly expressed long before him, whether on specialization, or on the principle of the invisible hand of the market. I try to show that the principle of the invisible hand of the market is much more ancient and developed long before Adam Smith. Traces of it appear even in the Epic of Gilgamesh, Hebrew thought, and in Christianity, and it is expressly stated by Aristophanes and Thomas Aquinas.

This is not a book on the thorough history of economic thought. The author aims instead to supplement certain chapters on the history of economic thought with a broader perspective and analysis of the influences that often escape the notice of economists and the wider public.

Progress (Naturalness and Civilization)

The Economy of Good and Evil

from his beginnings, man has been marked as a naturally unnatural creature, who for unique reasons surrounds himself with external possessions. Insatiability, both material and spiritual, are basic human metacharacteristics, which appear as early as the oldest myths and stories.

the Hebrews, with linear time, and later the Christians gave us the ideal (or amplified the Hebrew ideal) we now embrace. Then the classical economists secularized progress. How did we come to today’s progression of progress, and growth for growth’s sake?

The Need for Greed: The History of Consumption and Labor

Metamathematics From where did economics get the concept of numbers as the very foundation of the world?

All of economics is, in the end, economics of good and evil. It is the telling of stories by people of people to people. Even the most sophisticated mathematical model is, de facto, a story, a parable, our effort to (rationally) grasp the world around us.

idea that we can manage to utilize our natural egoism, and that this evil is good for something, is an ancient philosophical and mythical concept. We will also look into the development of the ethos of homo economicus, the birth of “economic man.”

The History of Animal Spirits: Dreams Never Sleep

Masters of the Truth

Originally, truth was a domain of poems and stories, but today we perceive truth as something much more scientific, mathematical. Where does one go (to shop) for the truth? And who “has the truth” in our epoch?

Our animal spirits (something of a counterpart to rationality) are influenced by the archetype of the hero and our concept of what is good.

The entire history of ethics has been ruled by an effort to create a formula for the ethical rules of behavior. In the final chapter we will show the tautology of Max Utility, and we will discuss the concept of Max Good.

The History of the Invisible Hand of the Market and Homo Economicus

We understand “economics” to mean a broader field than just the production, distribution, and consumption of goods and services. We consider economics to be the study of human relations that are sometimes expressible in numbers, a study that deals with tradables, but one that also deals with nontradables (friendship, freedom, efficiency, growth).

When we mention economics in this book, we mean the mainstream perception of it, perhaps as best represented by Paul Samuelson.

By the term homo economicus, we mean the primary concept of economic anthropology. It comes from the concept of a rational individual, who, led by narrowly egotistical motives, sets out to maximize his benefit.

the Epic of Gilgamesh bears witness to the opposite—despite the fact that the first written clay fragments (such as notes and bookkeeping) of our ancestors may have been about business and war, the first written story is mainly about great friendship and adventure.

Even today we live in Gilgamesh’s vision that human relations—and therefore humanity itself—are a disturbance to work and efficiency; that people would perform better if they did not “waste” their time and energy on nonproductive things.

is a story of nature and civilization, of heroism, defiance, and the battle against the gods, and evil; an epic about wisdom, immortality, and also futility.

But it is in friendship where—often by-the-way, as a side product, an externality—ideas and deeds are frequently performed or created that together can altogether change the face of society.19 Friendship can go against an ingrained system in places where an individual does not have the courage to do so himself or herself.

started with Babylonians—rural nature becomes just a supplier of raw materials, resources (and humans the source of human resources). Nature is not the garden in which humans were created and placed, which they should care for and which they should reside in, but becomes a mere reservoir for natural (re)sources.

To be human seems to be somewhere in between, or both of these two. We

The entire history of culture is dominated by an effort to become as independent as possible from the whims of nature.39 The more developed a civilization is, the more an individual is protected from nature and natural influences and knows how to create around him a constant or controllable environment to his liking.

The epic captures one of the greatest leaps in the development of the division of labor. Uruk itself is one of the oldest cities of all, and in the epic it reflects a historic step forward in specialization—in the direction of a new social city arrangement. Because of the city wall, people in the city can devote themselves to things other than worrying about their own safety, and they can continue to specialize more deeply.

“The chief thing which the common-sense individual wants is not satisfactions for the wants he had, but more, and better wants.”47

If a consumer buys something, theoretically it should rid him of one of his needs—and the aggregate of things they need should be decreased by one item. In reality, though, the aggregate of “I want to have” expands together with the growing aggregate of “I have.”

the Old Testament, this relationship is perceived completely differently. Man (humanity) is created in nature, in a garden. Man was supposed to care for the Garden of Eden and live in harmony with nature and the animals. Soon after creation, man walks naked and is not ashamed, de facto the same as the animals. What is characteristic is that man dresses (the natural state of creation itself is not enough for him), and he (literally and figuratively) covers52 himself—in shame after the fall.53

Nature is where one goes to hunt, collect crops, or gather the harvest. It is perceived as the saturator of our needs and nothing more. One goes back to the city to sleep and be “human.” On the contrary, evil resides in nature. Humbaba lives in the cedar forest, which also happens to be the reason to completely eradicate it.

Symbolically, then, we can view the entire issue from the standpoint of the epic in the following way: Our nature is insufficient, bad, evil, and good (humane) occurs only after emancipation from nature (from naturalness), through culturing and education. Humanity is considered as being in civilization.

The city was frequently (at least in older Jewish writings) a symbol of sin, degeneration, and decadence—nonhumanity. The Hebrews were originally a nomadic nation, one that avoided cities. It is no accident that the first important city57 mentioned in the Bible is proud Babylon,58 which God later turns to dust.

is enough, for example, to read the Book of Revelation to see how the vision of paradise developed from the deep Old Testament period, when paradise was a garden. John describes his vision of heaven as a city—paradise is in New Jerusalem, a city where the dimensions of the walls(!) are described in detail, as are the golden streets and gates of pearl.

Hebrews later also chose a king (despite the unanimous opposition of God’s prophets) and settled in cities, where they eventually founded the Lord’s Tabernacle and built a temple for Him. The city of Jerusalem later gained an illustrious position in all of religion.

this time Christianity (as well as the influence of the Greeks) does not consider human naturalness to be an unambiguous good, and it does not have such an idyllic relationship to nature as the Old Testament prophets.

If a tendency toward good is not naturally endowed in people, it must be imputed from above through violence or at least the threat of violence.

If we were to look at human naturalness as a good, then collective social actions need a much weaker ruling hand. If people themselves have a natural tendency (propensity) toward good, this role does not have to be supplied by the state, ruler, or, if you wish, Leviathan.

How does this affect economics?

us return for the last time to the humanization of the wild Enkidu, which is a process we can perceive with a bit of imagination as the first seed of the principle of the market’s invisible hand, and therefore the parallels with one of the central schematics of economic thinking.

Sometimes it is better to “harness the devil to the plow” than to fight with him. Instead of summoning up enormous energy in the fight against evil, it is better to use its own energy to reach a goal we desire; setting up a mill on the turbulent river instead of futile efforts to remove the current. This is also how Saint Prokop approached it in one of the oldest Czech legends.

Enkidu caused damage and it was impossible to fight against him. But with the help of a trap, trick, this evil was transformed into something that greatly benefited civilization.

By culturing and “domesticating” Enkidu, humanity tamed the uncontrollable wild and chaotic evil

Enkidu devastated the doings (the external, outside-the-walls) of the city. But he was later harnessed and fights at the side of civilization against nature, naturalness, the natural state of things.

A similar story (reforming something animally wild and uncultivated in civilizational achievement) is used by Thomas Aquinas in his teachings. Several centuries later, this idea is fully emancipated in the hands of Bernard Mandeville and his Fable of the Bees: or, Private Vices, Publick Benefits. The economic and political aspects of this idea are—often incorrectly—ascribed to Adam Smith.

Here the individual does not try anymore to maximize his goods or profits, but what is important is writing his name in human memory in the form of heroic acts or deeds.

immortality, one connected with letters and the cult of the word: A name and especially a written name survives the body.”77

After this disappointment, he comes to the edge of the sea, where the innkeeper Siduri lives. As tonic for his sorrow, she offers him the garden of bliss, a sort of hedonistic fortress of carpe diem, where a person comes to terms with his mortality and at least in the course of the end of his life maximizes earthly pleasures, or earthly utility.

In the second stage, after finding his friend Enkidu, Gilgamesh abandons the wall and sets out beyond the city to maximalize heroism. “In his (…) search of immortal life, Gilgamesh

The hero refuses hedonism in the sense of maximizing terrestrial pleasure and throws himself into things that will exceed his life. In the blink of an eye, the epic turns on its head the entire utility maximization role that mainstream economics has tirelessly tried to sew on people as a part of their nature.81

today remember Gilgamesh for his story of heroic friendship with Enkidu, not for his wall, which no longer reaches monumental heights.

the eleventh and final tablet, Gilgamesh again loses what he sought. Like Sisyphus, he misses his goal just before the climax

The very existence of questions similar to today’s economic ones can be considered as the first observation. The first written considerations of the people of that time were not so different from those today. In other words: The epic is understandable for us, and we can identify with it.

We have also been witnesses to the very beginnings of man’s culturing—a great drama based on a liberation and then a distancing from the natural state.

Let us take this as a memento in the direction of our restlessness, our inherited dissatisfaction and the volatility connected to it. Considering that they have lasted five thousand years and to this day we find ourselves in harmony with a certain feeling of futility, perhaps these characteristics are inherent in man.

with the phenomenon of the creation of the city, we have seen how specialization and the accumulation of wealth was born, how holy nature was transformed into a secular supplier of resources, and also how humans’ individualistic ego was emancipated.

For small acts (hunting together, work in a factory), small love is enough: Camaraderie. For great acts, however, great love is necessary, real love: Friendship. Friendship that eludes the economic understanding of quid pro quo. Friendship gives. One friend gives (fully) for the other. That is friendship for life and death,

less a civilized, city person is dependent on nature, the more he or she is dependent on the rest of society. Like Enkidu, we have exchanged nature for society; harmony with (incalculable) nature for harmony with (incalculable) man.

human nature good or evil? To this day these questions are key for economic policy: If we believe that man is evil in his nature, therefore that a person himself is dog eat dog (animal), then the hard hand of a ruler is called for. If we believe that people in and of themselves, in their nature, gravitate toward good, then it is possible to loosen up the reins and live in a society that is more laissez-faire.

For a concept of historical progress, for the undeification of heroes, rulers, and nature, mankind had to wait for the Hebrews.

Because nature is not undeified, it is beyond consideration to explore it, let alone intervene in it (unless a person was a two-thirds god like Gilgamesh). It

As early as the “dark” ages, the Jews commonly used economic tools that were in many ways ahead of their time and that later became key elements of the modern economy:

Gilgamesh’s story ends where it began. There is a consistency in this with Greek myths and fables: At the end of the story, no progress occurs, no essential historic change; the story is set in indefinite time, something of a temporal limbo.

For a nation originally based on nomadism, where did this Jewish business ethos come from? And can the Hebrews truly be considered as the architects of the values that set the direction of our civilization’s economic thought?

PROGRESS: A SECULARIZED RELIGION One of the things the writers of the Old Testament gave to mankind is the idea and notion of progress. The Old Testament stories have their development; they change the history of the Jewish nation and tie in to each other. The Jewish understanding of time is linear—it has a beginning and an end.

The observance of God’s Commandments in Judaism leads not to some ethereal other world, but to an abundance of material goods (Genesis 49:25–26, Leviticus 26:3–13, Deuteronomy 28:1–13) (…) There are no accusing fingers pointed at

There are no echoes of asceticism nor for the cleansing and spiritual effect of poverty. It is fitting therefore, that the founders of Judaism, the Patriarchs Abraham, Isaac and Jacob, were all wealthy men.12

about due to a linear understanding of history. If history has a beginning as well as an end, and they are not the same point, then exploration suddenly makes sense in areas where the fruits are borne only in the next generation.

however, the idea of progress itself underwent major changes, and today we perceive it very differently. As opposed to the original spiritual conceptions, today we perceive progress almost exclusively in an economic or scientific-technological sense.

Because care for the soul has today been replaced by care for external things,

This is why we must constantly grow, because we (deep down and often implicitly) believe that we are headed toward an (economic) paradise on Earth.

Only since the period of scientific-technological revolution (and at a time when economics was born as an independent field) is material progress automatically assumed.

Jewish thought is the most grounded, most realistic school of thought of all those that have influenced our culture.17 An abstract world of ideas was unknown to the Jews. To this day it is still forbidden to even depict God, people, and animals in symbols, paintings, statues, and drawings.

economists have become key figures of great importance in our time (Kacířské eseje o filosofii dějin [Heretical Essays in the Philosophy of History]). They are expected to perform interpretations of reality, give prophetic services (macroeconomic forecasts), reshape reality (mitigate the impacts of the crisis, speed up growth), and, in the long run, provide leadership on the way to the Promised Land—paradise on Earth.

REALISM AND ANTIASCETICISM Aside from ideas of progress, the Hebrews brought another very fundamental contribution to our culture: The desacralization of heroes, nature, and rulers.

Voltaire writes: “It certain fact is, that in his public laws he [Moses] never so much as once made mention of a life to come, limiting all punishments and all rewards to the present life.”21

As opposed to Christianity, the concept of an extraterrestrial paradise or heaven was not developed much in Hebrew thought.19 The paradise of the Israelites—Eden—was originally placed on Earth at a given place in Mesopotamia20 and at a given time,

The Hebrews consider the world to be real—not just a shadow reflection of a better world somewhere in the cloud of ideas, something the usual interpretation of history ascribes to Plato. The soul does not struggle against the body and is not its prisoner, as Augustine would write later.

The land, the world, the body, and material reality are for Jews the paramount setting for divine history, the pinnacle of creation. This idea is the conditio sine qua non of the development of economics, something of an utterly earthly making,

The mythology of the hero-king was strongly developed in that period, which Claire Lalouette summarizes into these basic characteristics: Beauty (a perfect face, on which it is “pleasant to look upon,” but also “beauty,” expressed in the Egyptian word nefer, not only means aesthetics, but contains moral qualities as well),

THE HERO AND HIS UNDEIFICATION: THE DREAM NEVER SLEEPS The concept of the hero is more important than it might appear. It may be the remote origin of Keynes’s animal spirits, or the desire to follow a kind of internal archetype that a given individual accepts as his own and that society values.

This internal animator of ours, our internal mover, this dream, never sleeps and it influences our behavior—including economic behavior—more than we want to realize.

Anthropology knows several archetypes of heroes. The Polish-born American anthropologist Paul Radin examined the myths of North American Indians and, for example, in his most influential book, The Trickster, he describes their four basic archetypes of heroes.

The Torah’s heroes (if that term can be used at all) frequently make mistakes and their mistakes are carefully recorded in the Bible—maybe precisely so that none of them could be deified.32

the Hebrew heroes correspond most to the Tricksters, the Culture Bearers, and the Twins. The divine muscleman, that dominant symbol we think of when we say hero, is absent here.

Undeification, however, does not mean a call to pillage or desecration; man was put here to take care of nature (see the story of the Garden of Eden or the symbolism of the naming of the animals). This protection and care of nature is also related to the idea of progress

For the heroes who moved our civilization to where it is today, the heroic archetypes of the cunning trickster, culture bearer, and sufferer are rather more appropriate.

the Old Testament strongly emphasizes the undeification of nature.37 Nature is God’s creation, which speaks of divinity but is not the domain of moody gods

in an Old Testament context, the pharaoh was a mere man (whom one could disagree with, and who could be resisted!).

RULERS ARE MERE MEN In a similar historical context, the Old Testament teachings carried out a similar desacralization of rulers, the so-called bearers of economic policy.

Ultimately the entire idea of a political ruler stood against the Lord’s will, which is explicitly presented in the Torah. The Lord unequivocally preferred the judge as the highest form of rule—an

The needs of future generations will have to be considered; after all humankind are the guardians of God’s world. Waste of natural resources, whether privately owned or nationally owned is forbidden.”39

Politics lost its character of divine infallibility, and political issues were subject to questioning. Economic policy could become a subject of examination.

44 God first creates with the word and then on individual days He divides light from darkness, water from dry land, day from night, and so forth—and He gives order to things.45 The world is created orderly— it is wisely, reasonably put together. The way of the world is put together at least partially46 decipherably by any other wise and reasonable being who honors rational rules.

THE PRAISE OF ORDER AND WISDOM: MAN AS A PERFECTER OF CREATION The created world has an order of sorts, an order recognizable by us as people,

From the very beginning, when God distances Himself from the entire idea, there is an anticipation that there is nothing holy, let alone divine, in politics. Rulers make mistakes, and it is possible to subject them to tough criticism—which frequently occurs indiscriminately through the prophets in the Old Testament.

Hebrew culture laid the foundations for the scientific examination of the world.

Examining the world is therefore an absolutely legitimate activity, and one that is even requested by God—it is a kind of participation in the Creator’s work.51 Man is called on to understand himself and his surroundings and to use his knowledge for good.

The Book of Proverbs emphasizes specifically several times that it was wisdom that was present at the creation of the world. Wisdom personified calls out:

The last act, final stroke of the brush of creation, naming of the animals—this act is given to a human, it is not done by God, as one would expect. Man was given the task of completing the act of creation that the Lord began:

MAN AS A FINISHER OF CREATION The creation of the world, as it is explained in Jewish teachings, is described in the Book of Genesis. Here God (i) creates, (ii) separates, and (iii) names [my emphasis]:

Naming is a symbolic expression. In Jewish culture (and also in our culture to this day), the right to name meant sovereign rights and belonged, for example, to explorers (new places), inventors (new principles), or parents (children)—that is, to those who were there at the genesis, at the origin. This right was handed over by God to mankind.

The Naming itself (the capital N is appropriate) traditionally belongs to the crowning act of the Creator and represents a kind of grand finale of creation, the last move of the brush to complete the picture—a signature of the master.

Without naming, reality does not exist; it is created together with language. Wittgenstein tightly names this in his tractatus—the limits of our language are the limits of our world.53

Reality is not a given; it is not passive. Perceiving reality and “facts” requires man’s active participation. It is man who must take the last step, an act (and we

A real-ization act on our part represents the creation of a construct, the imputation of sense and order (which is beautifully expressed by the biblical act of naming, or categorization, sorting, ordering).

God connects man with the task of guarding and protecting the Garden of Eden, and thus man actually cocreates the cultural landscape. The Czech philosopher Zdeněk Neubauer also describes this: “Such is reality, and it is so deep that it willingly crystallizes into worlds. Therefore I profess that reality is a creation and not a place of occurrence for objectively given phenomena.”61

The Jews believed the exact opposite. The world is created by a good God, and evil appears in it as a result of immoral human acts. Evil, therefore, is induced by man.66 History unwinds according to the morality of human acts.

GOOD AND EVIL IN US: A MORAL EXPLANATION OF WELL-BEING We have seen that in the Epic of Gilgamesh, good and evil are not yet addressed systematically on a moral level.

the epic, good and evil are not envisaged morally—they are not the result of an (a)moral act. Evil was not associated with free moral action or individual will.

Hebrew thought, on the other hand, deals intensively with moral good and evil. A moral dimension touches the core of its stories.65

discrepancy between savings and investment, and others are convinced of the monetary essence

The entire history of the Jewish nation is interpreted and perceived in terms of morality. Morality has become, so to speak, a mover and shaker of Hebrew history.

sunspots. The Hebrews came up with the idea that morals were behind good and bad years, behind the economic cycle. But we would be getting ahead of ourselves. Pharaoh’s Dream: Joseph and the First Business Cycle To

It is the Pharaoh’s well-known dream of seven fat and seven lean cows, which he told to Joseph, the son of Jacob. Joseph interpreted the dream as a macroeconomic prediction of sorts: Seven years of abundance were to be followed by seven years of poverty, famine, and misery.

Self-Contradicting Prophecy Here, let’s make several observations on this: Through taxation74 on the level of one-fifth of a crop75 in good years to save the crop and then open granaries in bad years, the prophecy was de facto prevented (prosperous years were limited and hunger averted—through a predecessor of fiscal stabilization).

The Old Testament prophesies therefore were not any deterministic look into the future, but warnings and strategic variations of the possible, which demanded some kind of reaction. If the reaction was adequate, what was prophesied would frequently not occur at all.

If the threat is anticipated, it is possible to totally or at least partially avoid it. Neither Joseph nor the pharaoh had the power to avoid bounty or crop failure (in this the dream interpretation was true and the appearance of the future mystical), but they avoided the impacts and implications of the prophecy (in this the interpretation of the dream was “false”)—famine did not ultimately occur in Egypt, and this was due to the application of reasonable and very intuitive economic policy.

Let us further note that the first “macroeconomic forecast” appears in a dream.

back to Torah: Later in this story we will notice that there is no reason offered as to why the cycle occurs (that will come later). Fat years will simply come, and then lean years after them.

Moral Explanation of a Business Cycle That is fundamentally different from later Hebrew interpretations, when the Jewish nation tries to offer reasons why the nation fared well or poorly. And those reasons are moral.

Only in recent times have some currents of economics again become aware of the importance of morals and trust in the form of measuring the quality of institutions, the level of justice, business ethics, corruption, and so forth, and examining their influence on the economy,

it is not within the scope of this book to answer that question; justice has been done to the question if it manages to sketch out the main contours of possible searches for answers.

THE ECONOMICS OF GOOD AND EVIL: DOES GOOD PAY OFF? This is probably the most difficult moral problem we could ask.

Inquiring about the economics of good and evil, however, is not that easy. Where would Kant’s “moral dimension of ethics” go if ethics paid? If we do good for profit, the question of ethics becomes a mere question of rationality.

He remains righteous, even if his only reward is death. What economic advantage could he have from that?

morals cannot be considered in the economic dimension of productivity and calculus. The role of the Hebrews was to do good, whether it paid off or not. If good (outgoing) is rewarded by incoming goodness, it is a bonus,99 not a reason to do outgoing good. Good and reward do not correlate to each other.

This reasoning takes on a dimension of its own in the Old Testament. Good (incoming) has already happened to us. We must do good (outgoing) out of gratitude for the good (incoming) shown to us in the past.

So why do good? After all, suffering is the fate of many biblical figures. The answer can only be: For good itself. Good has the power to be its own reward. In this sense, goodness gets its reward, which may or may not take on a material dimension.

the Hebrews offered an interesting compromise between the teachings of the Stoics and Epicureans. We will go into it in detail later, so only briefly

constraint. It calls for bounded optimalization (with limits). A kind of symbiosis existed between the legitimate search for one’s own utility (or enjoyment of life) and maintaining rules, which are not negotiable and which are not subject to optimalization.

In other words, clear (exogenously given) rules exist that must be observed and cannot be contravened. But within these borders it is absolutely possible, and even recommended, to increase utility.

To Love the Law The Jews not only had to observe the law (perhaps the word covenant would be more appropriate), but they were to love it because it was good.

the principle of doing good (outgoing) on the basis of a priori demonstrated good (incoming) was also taken over by the New Testament. Atonement itself is based on an a priori principle; all our acts are preceded by good.

THE SHACKLES OF THE CITY Owing to the Hebrew’s liberation from Egyptian slavery, freedom and responsibility become the key values of Jewish thought.

Laws given by God are binding for Jews, and God is the absolute source of all values,

The Hebrew ideal is represented by the paradise of the Garden of Eden, not a city.116 The despised city civilization or the tendency to see in it a sinful and shackling way of life appears in glimpses and allusions in many places in the Old Testament.

The nomadic Jewish ethos is frequently derived from Abraham, who left the Chaldean city of Ur on the basis of a command:

This way of life had understandably immense economic impacts. First, such a society lived in much more connected relationships, where there was no doubt that everyone mutually depended on each other. Second, their frequent wanderings meant the inability to own more than they could carry; the gathering up of material assets did not have great weight—precisely because the physical weight (mass) of things was tied to one place.

One of Moses’s greatest deeds was that he managed to explain to his nation once and for all that it is better to remain hungry and liberated than to be a slave with food “at no cost.”

SOCIAL WELFARE: NOT TO ACT IN THE MANNER OF SODOM

regulations is developed in the Old Testament, one we hardly find in any other nation of the time. In Hebrew teachings, aside from individual utility, indications of the concept of maximalizing utility societywide appear for the first time as embodied in the Talmudic principle of Kofin al midat S´dom, which can be translated as “one is compelled not to act in the manner of Sodom” and to take care of the weaker members of society.

In a jubilee year, debts were to be forgiven,125 and Israelites who fell into slavery due to their indebtedness were to be set free.126

Land at the time could be “sold,” and it was not sale, but rent. The price (rent) of real estate depended on how long there was until a forgiveness year. It was about the awareness that we may work the land, but in the last instance we are merely “aliens and strangers,” who have the land only rented to us for a fixed time. All land and riches came from the Lord.

These provisions express a conviction that freedom and inheritance should not be permanently taken away from any Israelite. Last but not least, this system reminds us that no ownership lasts forever and that the fields we plow are not ours but the Lord’s.

Glean Another social provision was the right to glean, which in Old Testament times ensured at least basic sustenance for the poorest. Anyone who owned a field had the responsibility not to harvest it to the last grain but to leave the remains in the field for the poor.

Tithes and Early Social Net Every Israelite also had the responsibility of levying a tithe from their entire crop. They had to be aware from whom all ownership comes and, by doing so, express their thanks.

“Since the community has an obligation to provide food, shelter, and basic economic goods for the needy, it has a moral right and duty to tax its members for this purpose. In line with this duty, it may have to regulate markets, prices and competition, to protect the interests of its weakest members.”135

In Judaism, charity is not perceived as a sign of goodness; it is more of a responsibility. Such a society then has the right to regulate its economy in such a way that the responsibility of charity is carried out to its satisfaction.

With a number of responsibilities, however, comes the difficulty of getting them into practice. Their fulfillment, then, in cases when it can be done, takes place gradually “in layers.” Charitable activities are classified in the Talmud according to several target groups with various priorities, classified according to, it could be said, rules of subsidiarity.

Do not mistreat an alien or oppress him, for you were aliens in Egypt.140 As one can see, aside from widows and orphans, the Old Testament also includes immigrants in its area of social protection.141 The Israelites had to have the same rules apply for them as for themselves—they could not discriminate on the basis of their origin.

ABSTRACT MONEY, FORBIDDEN INTEREST, AND OUR DEBT AGE If it appears to us that today’s era is based on money and debt, and our time will be written into history as the “Debt age,” then it will certainly be interesting to follow how this development occurred.

Money is a social abstractum. It is a social agreement, an unwritten contract.

The first money came in the form of clay tablets from Mesopotamia, on which debts were written. These debts were transferable, so the debts became currency. In the end, “It is no coincidence that in English the root of ‘credit’ is ‘credo,’ the Latin for ‘I believe.’”

To a certain extent it could be said that credit, or trust, was the first currency. It can materialize, it can be embodied in coins, but what is certain is that “money is not metal,” even the rarest metal, “it is trust inscribed,”

Inseparably, with the original credit (money) goes interest. For the Hebrews, the problem of interest was a social issue: “If you lend money to one of my people among you who is needy, do not be like a moneylender; charge him no interest.”

there were also clearly set rules setting how far one could go in setting guarantees and the nonpayment of debts. No one should become indebted to the extent that they could lose the source of their livelihood:

In the end, the term “bank” comes from the Italian banci, or the benches that Jewish lenders sat on.157

Money is playing not only its classical roles (as a means of exchange, a holder of value, etc.) but also a much greater, stronger role: It can stimulate, drive (or slow down) the whole economy. Money plays a national economic role.

In the course of history, however, the role of loans changed, and the rich borrowed especially for investment purposes,

In such a case a ban on interest did not have great ethical significance. Thomas Aquinas, a medieval scholar (1225-1274), also considers similarly; in his time, the strict ban on lending with usurious interest was loosened, possibly due to him.

As a form of energy, money can travel in three dimensions, vertically (those who have capital lend to those who do not) and horizontally (speed and freedom in horizontal or geographic motion has become the by-product—or driving force?—of globalization). But money (as opposed to people) can also travel through time.

money is something like energy that can travel through time. And it is a very useful energy, but at the same time very dangerous as well. Wherever

Aristotle condemned interest162 not only from a moral standpoint, but also for metaphysical reasons. Thomas Aquinas shared the same fear of interest and he too argued that time does not belong to us, and that is why we must not require interest.

MONEY AS ENERGY: TIME TRAVEL AND GROSS DEBT PRODUCT (GDP)

Due to this characteristic, we can energy-strip the future to the benefit of the present. Debt can transfer energy from the future to the present.163 On the other hand, saving can accumulate energy from the past and send it to the present.

labor was not considered degrading in the Old Testament. On the contrary, the subjugation of nature is even a mission from God that originally belonged to man’s very first blessings.

LABOR AND REST: THE SABBATH ECONOMY

The Jews as well as Aristotle behaved very guardedly toward loans. The issue of interest/usury became one of the first economic debates. Without having an inkling of the future role of economic policy (fiscal and monetary), the ancient Hebrews may have unwittingly felt that they were discovering in interest a very powerful weapon, one that can be a good servant, but (literally) an enslaving master as well.

It’s something like a dam. When we build one, we are preventing periods of drought and flooding in the valley; we are limiting nature’s whims and, to a large extent, avoiding its incalculable cycles. Using dams, we can regulate the flow of water to nearly a constant. With it we tame the river (and we can also gain

But if we do not regulate the water wisely, it may happen that we would overfill the dam and it would break. For the cities lying in the valley, their end would be worse than if a dam were never there.

If man lived in harmony with nature before, now, after the fall, he must fight; nature stands against him and he against it and the animals. From the Garden we have moved unto a (battle)field.

Only after man’s fall does labor turn into a curse.168 It could even be said that this is actually the only curse, the curse of the unpleasantness of labor, that the Lord places on Adam.

Both Plato and Aristotle consider labor to be necessary for survival, but that only the lower classes should devote themselves to it so that the elites would not have to be bothered with it and so that they could devote themselves to “purely spiritual matters—art, philosophy, and politics.”

Work is also not only a source of pleasure but a social standing; It is considered an honor. “Do you see a man skilled in his work? He will serve before kings.”170 None of the surrounding cultures appreciate work as much. The idea of the dignity of labor is unique in the Hebrew tradition.

Hebrew thinking is characterized by a strict separation of the sacred from the profane. In life, there are simply areas that are holy, and in which it is not allowed to economize, rationalize, or maximize efficiency.

the message of the commandment on Saturday communicated that people were not primarily created for labor.

This dimension has disappeared from today’s economics. Economic effort has no goal at which it would be possible to rest. Today we only know growth for growth’s sake, and if our company or country prospers, that does not…

the purpose of creation was not just creating but that it had an end, a goal. The process was just a process, not a purpose. The whole of Being was created so…

ancient Greek economic ethos, we will examine two extreme approaches to laws and rules. While the Stoics considered laws to be absolutely valid, and utility had infinitesimal meaning in their philosophy, the Epicureans, at least in the usual historical explanation, placed utility and pleasure in first place—rules were to be made based on the principle of utility.

CONCLUSION: BETWEEN UTILITY AND PRINCIPLE The influence of Jewish thought on the development of market democracy cannot be overestimated. The key heritage for us was the lack of ascetic perception of the world, respect to law and private…

poets actually went even further, and with their speech they shaped and established reality and truth. Honor, adventure, great deeds, and the acclaim connected with them played an important role in the establishment of the true, the real.

those who are famous will be remembered by people. They become more real, part of the story, and they start to be “realized,” “made real” in the lives of other people. That which is stored in memory is real; that which is forgotten is as if it never existed.

“epic and tragic poets were widely assumed to be the central ethical thinkers and teachers of Greece; nobody thought of their work as less serious, less aimed at truth, than the speculative prose treatises of historians and philosophers.”5 Truth and reality were hidden in speech, stories, and narration.

general? In the end, poetry could be more sensitive to the truth than the philosophical method or, later, the scientific method. “Tragic poems, in virtue of their subject matter and their social function, are likely to confront and explore problems about human beings and luck that a philosophical text might be able to omit or avoid.”8

To be black in the Baltimore of my youth was to be naked before the elements of the world, before all the guns, fists, knives, crack, rape, and disease. The law did not protect us. And now, in your time, the law has become an excuse for stopping and frisking you, which is to say, for furthering the assault on your body

There is nothing uniquely evil in these destroyers or even in this moment. The destroyers are merely men enforcing the whims of our country, correctly interpreting its heritage and legacy. This legacy aspires to the shackling of black bodies

It is hard to face this. But all our phrasing—race relations, racial chasm, racial justice, racial profiling, white privilege, even white supremacy—serves to obscure that racism is a visceral experience, that it dislodges brains, blocks airways, rips muscle, extracts organs, cracks bones, breaks teeth

ou must never look away from this. You must always remember that the sociology, the history, the economics, the graphs, the charts, the regressions all land, with great violence, upon the body.

And should one live in such a body? What should be our aim beyond meager survival of constant, generational, ongoing battery and assault? I have asked this question all my life.

The question is unanswerable, which is not to say futile. The greatest reward of this constant interrogation, of confrontation with the brutality of my country, is that it has freed me from ghosts and myths.

I was afraid long before you, and in this I was unoriginal. When I was your age the only people I knew were black, and all of them were powerfully, adamantly, dangerously afraid. It was always right in front of me. The fear was there in the extravagant boys of my West Baltimore neighborhood

The fear lived on in their practiced bop, their slouching denim, their big T- shirts, the calculated angle of their baseball caps, a catalog of behaviors and garments enlisted to inspire the belief that these boys were in firm possession of everything they desired.

But a society that protects some people through a safety net of schools, government-backed home loans, and ancestral wealth but can only protect you with the club of criminal justice has either failed at enforcing its good intentions or has succeeded at something much darker.

still and all I knew that we were something, that we were a tribe—on one hand, invented, and on the other, no less real. The reality was out there on the Yard, on the first warm day of spring when it seemed that every sector, borough, affiliation, county, and corner of the broad diaspora had sent a delegate to the great world party

I remember being amazed that death could so easily rise up from the nothing of a boyish afternoon, billow up like fog. I knew that West Baltimore, where I lived; that the north side of Philadelphia, where my cousins lived; that the South Side of Chicago, where friends of my father lived, comprised a world apart. Somewhere out there beyond the firmament, past the asteroid belt, there were other worlds where children did not regularly fear for their bodies

I came to understand that my country was a galaxy, and this galaxy stretched from the pandemonium of West Baltimore to the happy hunting grounds of Mr. Belvedere. I obsessed over the distance between that other sector of space and my own. I knew that my portion of the American galaxy, where bodies were enslaved by a tenacious gravity, was black and that the other, liberated portion was not. I knew that some inscrutable energy preserved the breach. I felt, but did not yet understand, the relation between that other world and me. And I felt in this a cosmic injustice, a profound cruelty, which infused an abiding, irrepressible desire to unshackle my body and achieve the velocity of escape.

Before I could escape, I had to survive, and this could only mean a clash with the streets, by which I mean not just physical blocks, nor simply the people packed into them, but the array of lethal puzzles and strange perils which seem to rise up from the asphalt itself. The streets transform every ordinary day into a series of trick questions, and every incorrect answer risks a beat-down, a shooting, or a pregnancy. No one survives unscathed

When I was your age, fully one-third of my brain was concerned with who I was walking to school with, our precise number, the manner of our walk, the number of times I smiled, who or what I smiled at, who offered a pound and who did not—all of which is to say that I practiced the culture of the streets, a culture concerned chiefly with securing the body.

Why were only our heroes nonviolent? Back then all I could do was measure these freedom-lovers by what I knew. Which is to say, I measured them against children pulling out in the 7-Eleven parking lot, against parents wielding extension cords, and the threatening intonations of armed black gangs saying, “Yeah, nigger, what’s up now?” I judged them against the country I knew, which had acquired the land through murder and tamed it under slavery, against the country whose armies fanned out across the world to extend their dominion. The world, the real one, was civilization secured and ruled by savage means. How could the schools valorize men and women whose values society actively scorned? How could they send us out into the streets of Baltimore, knowing all that they were, and then speak of nonviolence?

the beauty of the black body was never celebrated in movies, in television, or in the textbooks I’d seen as a child. Everyone of any import, from Jesus to George Washington, was white. This was why your grandparents banned Tarzan and the Lone Ranger and toys with white faces from the house. They were rebelling against the history books that spoke of black people only as sentimental “firsts”—first black four-star general, first black congressman, first black mayor—always presented in the bemused manner of a category of Trivial Pursuit.

erious history was the West, and the West was white. This was all distilled for me in a quote I once read, from the novelist Saul Bellow. I can’t remember where I read it, or when—only that I was already at Howard. “Who is the Tolstoy of the Zulus?,” Bellow quipped

this view of things was connected to the fear that passed through the generations, to the sense of dispossession. We were black, beyond the visible spectrum, beyond civilization. Our history was inferior because we were inferior, which is to say our bodies were inferior. And our inferior bodies could not possibly be accorded the same respect as those that built the West. Would it not be better, then, if our bodies were civilized, improved, and put to some legitimate Christian use?

now I looked back on my need for a trophy case, on the desire to live by the standards of Saul Bellow, and I felt that this need was not an escape but fear again—fear that “they,” the alleged authors and heirs of the universe, were right. And this fear ran so deep that we accepted their standards of civilization and humanity.

“Tolstoy is the Tolstoy of the Zulus,” wrote Wiley. “Unless you find a profit in fencing off universal properties of mankind into exclusive tribal ownership.” And there it was. I had accepted Bellow’s premise. In fact, Bellow was no closer to Tolstoy than I was to Nzinga. And if I were closer it would be because I chose to be, not because of destiny written in DNA. My great error was not that I had accepted someone else’s dream but that I had accepted the fact of dreams, the need for escape, and the invention of racecraft.

The destroyers will rarely be held accountable. Mostly they will receive pensions.

I could see now that that world was more than a photonegative of that of the people who believe they are white. “White America” is a syndicate arrayed to protect its exclusive power to dominate and control our bodies. Sometimes this power is direct (lynching), and sometimes it is insidious (redlining). But however it appears, the power of domination and exclusion is central to the belief in being white, and without it, “white people” would cease to exist for want of reasons

here will surely always be people with straight hair and blue eyes, as there have been for all history. But some of these straight-haired people with blue eyes have been “black,” and this points to the great difference between their world and ours. We did not choose our fences. They were imposed on us by Virginia planters obsessed with enslaving as many Americans as possible. Now I saw that we had made something down here, in slavery, in Jim Crow, in ghettoes. At The Mecca I saw how we had taken their one-drop rule and flipped it. They made us into a race. We made ourselves into a people.

Think of all the embraces, all the private jokes, customs, greetings, names, dreams, all the shared knowledge and capacity of a black family injected into that vessel of flesh and bone. And think of how that vessel was taken, shattered on the concrete, and all its holy contents, all that had gone into each of them, was sent flowing back to the earth. It is terrible to truly see our particular beauty, Samori, because then you see the scope of the loss. But you must push even further. You must see that this loss is mandated by the history of your country, by the Dream of living white.

I don’t know if you remember how the film we saw at the Petersburg Battlefield ended as though the fall of the Confederacy were the onset of a tragedy, not jubilee. I doubt you remember the man on our tour dressed in the gray wool of the Confederacy, or how every visitor seemed most interested in flanking maneuvers, hardtack, smoothbore rifles, grapeshot, and ironclads, but virtually no one was interested in what all of this engineering, invention, and design had been marshaled to achieve. You were only 10 years old. But even then I knew that I must trouble you, and this meant taking you into rooms where people would insult your intelligence, where thieves would try to enlist you in your own robbery and disguise their burning and looting as Christian charity. But robbery is what this is, what it always was.

American reunion was built on a comfortable narrative that made enslavement into benevolence, white knights of body snatchers, and the mass slaughter of the war into a kind of sport in which one could conclude that both sides conducted their affairs with courage, honor, and élan. This lie of the Civil War is the lie of innocence, is the Dream.

I, like every kid I knew, loved The Dukes of Hazzard. But I would have done well to think more about why two outlaws, driving a car named the General Lee, must necessarily be portrayed as “just some good ole boys, never meanin’ no harm”—a mantra for the Dreamers if there ever was one. But what one “means” is neither important nor relevant. It is not necessary that you believe that the officer who choked Eric Garner set out that day to destroy a body. All you need to understand is that the officer carries with him the power of the American state and the weight of an American legacy, and they necessitate that of the bodies destroyed every year, some wild and disproportionate number of them will be black.

Here is what I would like for you to know: In America, it is traditional to destroy the black body—it is heritage. Enslavement was not merely the antiseptic borrowing of labor—it is not so easy to get a human being to commit their body against its own elemental interest. And so enslavement must be casual wrath and random manglings, the gashing of heads and brains blown out over the river as the body seeks to escape. It must be rape so regular as to be industrial. There is no uplifting way to say this.

It had to be blood. It had to be the thrashing of kitchen hands for the crime of churning butter at a leisurely clip. It had to be some woman “chear’d ... with thirty lashes a Saturday last and as many more a Tuesday again.” It could only be the employment of carriage whips, tongs, iron pokers, handsaws, stones, paperweights, or whatever might be handy to break the black body, the black family, the black community, the black nation. The bodies were pulverized into stock and marked with insurance. And the bodies were an aspiration, lucrative as Indian land, a veranda, a beautiful wife, or a summer home in the mountains. For the men who needed to believe themselves white, the bodies were the key to a social club, and the right to break the bodies was the mark of civilization.

“The two great divisions of society are not the rich and poor, but white and black,” said the great South Carolina senator John C. Calhoun. “And all the former, the poor as well as the rich, belong to the upper class, and are respected and treated as equals.” And there it is—the right to break the black body as the meaning of their sacred equality. And that right has always given them meaning, has always meant that there was someone down in the valley because a mountain is not a mountain if there is nothing below.

There is no them without you, and without the right to break you they must necessarily fall from the mountain, lose their divinity, and tumble out of the Dream. And then they would have to determine how to build their suburbs on something other than human bones, how to angle their jails toward something other than a human stockyard, how to erect a democracy independent of cannibalism. I would like to tell you that such a day approaches when the people who believe themselves to be white renounce this demon religion and begin to think of themselves as human. But I can see no real promise of such a day. We are captured, brother, surrounded by the majoritarian bandits of America. And this has happened here, in our only home, and the terrible truth is that we cannot will ourselves to an escape on our own.

I think now of the old rule that held that should a boy be set upon in someone else’s chancy hood, his friends must stand with him, and they must all take their beating together. I now know that within this edict lay the key to all living. None of us were promised to end the fight on our feet, fists raised to the sky. We could not control our enemies’ number, strength, or weaponry. Sometimes you just caught a bad one. But whether you fought or ran, you did it together, because that is the part that was in our control. What we must never do is willingly hand over our own bodies or the bodies of our friends. That was the wisdom: We knew we did not lay down the direction of the street, but despite that, we could—and must—fashion the way of our walk. And that is the deeper meaning of your name—that the struggle, in and of itself, has meaning.

I have raised you to respect every human being as singular, and you must extend that same respect into the past. Slavery is not an indefinable mass of flesh. It is a particular, specific enslaved woman, whose mind is as active as your own, whose range of feeling is as vast as your own; who prefers the way the light falls in one particular spot in the woods, who enjoys fishing where the water eddies in a nearby stream, who loves her mother in her own complicated way, thinks her sister talks too loud, has a favorite cousin, a favorite season, who excels at dressmaking and knows, inside herself, that she is as intelligent and capable as anyone. “Slavery” is this same woman born in a world that loudly proclaims its love of freedom and inscribes this love in its essential texts, a world in which these same professors hold this woman a slave, hold her mother a slave, her father a slave, her daughter a slave, and when this woman peers back into the generations all she sees is the enslaved. She can hope for more. She can imagine some future for her grandchildren. But when she dies, the world—which is really the only world she can ever know—ends. For this woman, enslavement is not a parable. It is damnation. It is the never-ending night. And the length of that night is most of our history. Never forget that we were enslaved in this country longer than we have been free. Never forget that for 250 years black people were born into chains—whole generations followed by more generations who knew nothing but chains.

You must resist the common urge toward the comforting narrative of divine law, toward fairy tales that imply some irrepressible justice. The enslaved were not bricks in your road, and their lives were not chapters in your redemptive history. They were people turned to fuel for the American machine. Enslavement was not destined to end, and it is wrong to claim our present circumstance—no matter how improved—as the redemption for the lives of people who never asked for the posthumous, untouchable glory of dying for their children. Our triumphs can never redeem this. Perhaps our triumphs are not even the point. Perhaps struggle is all we have

I am not a cynic. I love you, and I love the world, and I love it more with every new inch I discover. But you are a black boy, and you must be responsible for your body in a way that other boys cannot know. Indeed, you must be responsible for the worst actions of other black bodies, which, somehow, will always be assigned to you. And you must be responsible for the bodies of the powerful—the policeman who cracks you with a nightstick will quickly find his excuse in your furtive movements. You have to make your peace with the chaos, but you cannot lie.

“I could have you arrested,” he said. Which is to say: “One of your son’s earliest memories will be watching the men who sodomized Abner Louima and choked Anthony Baez cuff, club, tase, and break you.” I had forgotten the rules, an error as dangerous on the Upper West Side of Manhattan as on the West Side of Baltimore. One must be without error out here. Walk in single file. Work quietly. Pack an extra No. 2 pencil. Make no mistakes.

the price of error is higher for you than it is for your countrymen, and so that America might justify itself, the story of a black body’s destruction must always begin with his or her error, real or imagined—with Eric Garner’s anger, with Trayvon Martin’s mythical words (“You are gonna die tonight”), with Sean Bell’s mistake of running with the wrong crowd, with me standing too close to the small-eyed boy pulling out.

You are called to struggle, not because it assures you victory but because it assures you an honorable and sane life

I am sorry that I cannot save you—but not that sorry. Part of me thinks that your very vulnerability brings you closer to the meaning of life, just as for others, the quest to believe oneself white divides them from it. The fact is that despite their dreams, their lives are also not inviolable. When their own vulnerability becomes real—when the police decide that tactics intended for the ghetto should enjoy wider usage, when their armed society shoots down their children, when nature sends hurricanes against their cities—they are shocked by the rages of logic and the natural world in a way that those of us who were born and bred to understand cause and effect can never be.

I would not have you live like them. You have been cast into a race in which the wind is always at your face and the hounds are always at your heels. And to varying degrees this is true of all life. The difference is that you do not have the privilege of living in ignorance of this essential fact.

I never wanted you to be twice as good as them, so much as I have always wanted you to attack every day of your brief bright life determined to struggle. The people who must believe they are white can never be your measuring stick. I would not have you descend into your own dream. I would have you be a conscious citizen of this terrible and beautiful world.

Never ones to let a serious crisis go to waste, leading Republicans seized the ensuing constitutional crisis as an opportunity to remake the nation’s political economy and geography. In the summer of 1862, as Lincoln mulled over the Emancipation Proclamation’s details, officials in his administration created the Department of Agriculture, while Congress passed the Morrill Land Grant Act, the Pacific Railroad Act and the Homestead Act.

s a result, federal authorities could offer citizens a deal: Enlist to fight for Lincoln and liberty, and receive, as fair recompense for their patriotic sacrifices, higher education and Western land connected by rail to markets. It seemed possible that liberty and empire might advance in lock step.

the project of continental expansion fostered sectional reconciliation. Northerners and Southerners agreed on little at the time except that the Army should pacify Western tribes. Even as they fought over the proper role for the federal government, the rights of the states, and the prerogatives of citizenship, many Americans found rare common ground on the subject of Manifest Destiny.

many American soldiers, whether they had fought for the Union or the Confederacy, redeployed to the frontier. They became shock troops of empire. The federal project of demilitarization, paradoxically, accelerated the conquest and colonization of the West.

The Indian wars of the Reconstruction era devastated not just Native American nations but also the United States.

For a moment, it seemed that the federal government could accomplish great things. But in the West, Native Americans would not simply vanish

Red Cloud’s War, then, undermined a utopian moment and blurred the Republican Party’s vision for expansion

at least the Grant administration had a plan. After he took office in 1869, President Grant promised that he would pursue a “peace policy” to put an end to violence in the West, opening the region to settlers. By feeding rather than fighting Indians, federal authorities would avoid further bloodshed with the nation’s indigenous peoples. The process of civilizing and acculturating Native nations into the United States could begin.

President Grant’s Peace Policy perished in the Modoc War. The horror of that conflict, and the Indian wars more broadly, coupled with an endless array of political scandals and violence in the states of the former Confederacy – including the brutal murder, on Easter Sunday 1873 in Colfax, La., of at least 60 African-Americans – diminished support for the Grant administration’s initiatives in the South and the West.

One hundred and fifty years after the Civil War, collective memory casts that conflict as a war of liberation, entirely distinct from the Indian wars.

though Reconstruction is typically recalled in the popular imagination as both more convoluted and contested – whether thwarted by intransigent Southerners, doomed to fail by incompetent and overweening federal officials, or perhaps some combination of the two – it was well intended nevertheless, an effort to make good on the nation’s commitment to freedom and equality.

But this is only part of the story. The Civil War emerged out of struggles between the North and South over how best to settle the West – struggles, in short, over who would shape an emerging American empire. Reconstruction in the West then devolved into a series of conflicts with Native Americans

so, while the Civil War and its aftermath boasted moments of redemption and days of jubilee, the era also featured episodes of subjugation and dispossession, patterns that would repeat themselves in the coming years.

When Chief Joseph surrendered, the United States secured its empire in the West. The Indian wars were over, but an era of American imperialism was just beginning.

“It just continues to baffle me that these folks think they did some sort of good here. It’s not only horrendously sad but equally disturbing and frustrating,” Willoughby said of the QAnon believers who are celebrating their role in averting disaster. “You can’t speak to them in a logical, factual way, so how can you combat this? What they actually did was destructive and divisive and filled with fear and hate.”

The head of the Church, the Pope, had been the most august witness of the coronation of the usurper; and Pius VII retained, to his dying day, a weakness for Bonaparte.

Hence, the attempts to restore what was left of confiscated church property, to endow the Church and not merely carry its expenses on the budget; hence the unsuccessful effort to replace the Concordat of 1802 by that which Francis I had made in 1517

Neither Louis XVIII nor Charles X fell into the fatal mistake made by Louis XV and Louis XVI, of barring promotion to roturiers—no commoner bishop was appointed after Massillon down to 1789. But efforts were made to “décrasser l'épiscopat”; and, by 1830, most bishops were nobles and legitimists

The great problem of the restored Church of France was the pastoral clergy. All through the years of the Consulate and Empire, the old priests, ordained before 1789

In some regions, faith was lively. But in others the thread of Christian life had been cut; a generation had grown up that knew little of the old faith. Churches had been pillaged, destroyed, secularized

There might seem few follies left to commit; but Charles X was a true kinsman of James II.

Yet Louis XIV and even Bossuet were irrelevant to the new situation of the Church of France. The parallel with James II was close. High church and Dissenters were alike alienated. So were less serious bodies of opinion. The zealous Sosthene de la Rochefoucauld was busy putting fig leaves on statues and lengthening the skirts of ballet dancers and, belatedly, the Prefect of Police was suppressing illegal brothels. Both measures alienated the studious youth of Paris, as did the attack on the Empire promenade in London their kin some half-century ago

the House of France now had an heir; for the birth of the enfant du miracle, the posthumous child of the Due de Berry, cut out the hated Due d’Orléans, on whose accession so many “liberal” hopes had been quietly placed. The birth of the Due de Bordeaux, better known as the Comte de Chambord, repeated the history of the English restoration

But the easy, legal transition from the elder to the younger branch, from the Bourbons who had learned nothing to the Bourbons who had come to terms with the modern world of the Revolution, was made impossible

Charles X, to universal surprise, showed in the first few months of his reign a talent for winning popularity that had been hidden while he was a chief of a political faction. Chateaubriand, Scott, Byron himself, and the efflorescence of new literary taste that we call the romantic movement, all worked to reconcile the young to the traditional monarchy

But, even in 1825, the ritual of the anointing aroused anti-clerical suspicions, as the royal mourning for Louis XVIII had aroused absurd suspicions that the new king was a “secret bishop” because he wore violet, the mourning colour of the House of France. Worse still was the impression made by Charles X’s walking in a jubilee procession, submissive to the clergy.

The conquest of Algiers, with all its immense and, at this moment, undecided consequences, is a great event in French history, even if the successful intervention in Spain is only remembered because the storming of the Troca-dero brought a new name into the nomenclature of French architecture

The faults and follies of the Restoration, serious enough even under Louis XVIII, were intolerable for the intelligent observer under Charles X. But, under these kings, France had a government that was “digne et probe.” Not many French governments since then have been able to claim as much.

ut the World Bank and the I.M.F. have failed to translate their concern into meaningful support, say economists. That has left less-affluent countries struggling with limited resources and untenable debts, prompting their governments to reduce spending just as it is needed to bolster health care systems and aid people suffering lost income.

The wealthiest nations have been cushioned by extraordinary surges of credit unleashed by central banks and government spending collectively estimated at more than $8 trillion. Developing countries have yet to receive help on such a scale.

A longtime government finance official who worked in the Trump administration’s Treasury Department, he has displayed contempt for the World Bank and the I.M.F.

“The World Bank Group intends to respond forcefully and massively,” Mr. Malpass said. At the I.M.F., Ms. Georgieva said she would not hesitate to tap the institution’s $1 trillion lending capacity. “This is, in my lifetime, humanity’s darkest hour,” she declared.

Billions of people have lost the wherewithal to buy food, increasing malnutrition. By next year, the pandemic could push 150 million people into extreme poverty, the World Bank has warned, in the first increase in more than two decades.

excessive faith in a widely hailed initiative that aimed to relieve poor nations of their debt burdens to foreign creditors. In April 2020, at a virtual summit of the Group of 20, world leaders agreed to pause debt payments through the end of the year.

World leaders played up the program as a way to encourage poor countries to spend as needed, without worrying about their debts. But the plan exempted the largest group of creditors: the global financial services industry, including banks, asset managers and hedge funds.

As the pandemic spread, Pakistan raised health care spending but cut support for social service programs as it prioritized debt payments.

Mr. Summers recently described the debt suspension initiative as “a squirt gun meeting a massive conflagration.”

Private creditors maintain that poor countries have not requested relief, recognizing that credit rating agencies may treat debt suspension as a default — a status that jeopardizes their future ability to borrow.

the I.M.F. has allocated $500 million to cover the costs of debt suspension, while handing out more than $100 billion in fresh loans. More than $11 billion from the loan proceeds has paid off private creditors, according to a report from the Jubilee Debt Campaign.

She was given the job for life when she was 25, and she’s still alive 70 years later so she’s still got the job.”

In the midst of these changes, the royal family seems an unrepresentative symbol of modern Britain, raising questions about why the country’s next three heads of state are destined to be white men from the most privileged of backgrounds, Mr. Smith thinks.

But support for the royal family has declined in the past few decades and is weakest among young people. So Mr. Smith thinks time is on his side.

“The monarchy’s support is dropping on her watch,” Mr. Smith said. “If she’s not able to stop that happening, then Charles certainly won’t when he’s king.”Part of this, Mr. Smith thinks, is about changing social attitudes as exemplified by the legalization of same-sex marriage, the growing discussion over issues like mental health, and debates over the #MeToo movement, Black Lives Matter and the legacy of slavery.

She remains a symbol of national unity at a time when the United Kingdom is under growing threat of breaking up and there is no consensus on what sort of system could replace the monarchy — an institution that even most left-of-center politicians want to keep.

if you speak with a posh voice, you probably know what you’re doing, you seem to be the right fit for being in change.”

“I don’t see why there should be a royal family today — I don’t see the need for them,” said Mr. Jones, also a retiree, adding, “The current monarch is probably as good as you are going to get, but I’m not looking forward to the next one.”