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criscimagnael

As Boris Johnson Stumbles, Labour Struggles to Offer a Clear Message - The New York Times - 0 views

www.nytimes.com/...ruggles-rust-belt-britain.html

shared by criscimagnael on 01 Jun 22 - No Cached
  • When Boris Johnson hit energy companies with a windfall tax last week as a way of providing more aid for struggling consumers, it was a bittersweet moment for the opposition Labour Party, which had been promoting just such a plan for months.
  • For once, Labour could claim to have won “the battle of ideas.” But at a stroke, Mr. Johnson had co-opted the party’s marquee policy and claimed the credit.
  • senior leadership “must bear responsibility” for the failure to follow the rules.
  • ...13 more annotations...
  • In 2019, the Conservatives captured areas like Burnley, in Britain’s postindustrial “red wall,” and Labour polled poorly in Scotland, once another heartland, losing out to the Scottish National Party.
  • And while the Conservatives lost badly in recent local elections, Labour has made only limited progress, with smaller parties doing well.
  • He promptly promised that he would resign if he were fined by the police — in contrast to Mr. Johnson, who suffered that fate in April but refused to quit.
  • In the 2019 general election, parts of England that for decades had voted for Labour switched en masse to the Conservatives, allowing Mr. Johnson to recast the political map just as Donald J. Trump did in the United States in 2016.
  • Even he accepts that Labour is not yet in a solid, election-winning position.
  • “It looks like modest progress because it is modest progress,” said Mr. McTernan, while adding that it was still a “massive rebalancing” after the 2019 defeat.
  • So Labour is hosting a series of town-hall meetings where uncommitted voters are asked what would lure them back to the party.
  • “It broke my heart in 2019 when I watched communities where I grew up and that I call home turning blue for the first time in history,” said Ms. Nandy, referring to the campaign color used by the Conservatives.
  • The reason, she thinks, is that politicians spend too much time in London and too little “on people’s own territory having conversations with them about things that matter to them.”
  • “I don’t think anyone is expecting full policy across the board until the time of the next election,” she said. “A lot of what we need to do is about rebuilding our relationship with the country and setting out our values, and people need to get to know the Labour Party again.”
  • “I know so many progressives who think that politics is like a football game: If you have a 10-point plan on health and your opponents only have a five-point plan you win 10 to 5,” Mr. McTernan said. “You don’t.”
  • To succeed, the party needs to convince people like Ged Ennis, the director of a renewable energy company that equipped Burnley College with solar panels. He has voted for Labour and the Conservatives over the years, but opted for the centrist Liberal Democrats in 2019.
  • “I think what he needs to do is to be brave and to be really clear about what he wants to deliver,
woodlu

Labour v capital in the post-lockdown economy | The Economist - 0 views

www.economist.com/...21807700

policy economics

shared by woodlu on 14 Feb 22 - No Cached
  • Dissatisfaction rages in the post-lockdown economy. Households say that price-gouging companies are jacking up prices, contributing to an inflation rate across the rich world of 6.6% year on year.
  • Companies bat such accusations aside, believing that they are the truly wronged party. They complain that staff have become workshy ingrates who demand ever-higher wages
  • A “battle of the markups”, between higher wages and higher shop prices, is under way.
  • ...18 more annotations...
  • economic output must flow either to owners of capital, in the form of profits, dividends and rents, or to labour, as wages, salaries and perks. Economists refer to this as the “capital” or “labour” share of GDP. Who has the upper hand in the post-lockdown economy?
  • First we calculate a high-frequency measure of the capital-labour share across 30 mostly rich countries.
  • In 2020 the aggregate labour share across this group soared (see chart 1). This was largely because firms continued to pay people’s wages—helped, in large part, by government-stimulus programmes—even as GDP collapsed. Advantage, labour.
  • More recently, however, the battle seems to have shifted in favour of capital.
  • most economists anyway argue that labour’s share is not a perfect gauge of economic fairness, since it is so hard to measure.
  • In the first camp is Britain. There, underlying wage growth is in the region of 5% a year, unusually fast by rich-world standards.
  • But corporations seem not to have much pricing power, meaning that they are struggling to fully offset higher costs in the form of higher prices.
  • Labour seems to be winning out at the expense of capital.
  • The second group consists of most other rich countries outside America.
  • There, neither labour nor capital seems able to triumph. After correcting for pandemic-related distortions Japan’s pay growth appears to be slowing to below 1% a year
  • Pay settlements in Italy and Spain are treading water, while wage growth in Australia, France and Germany remains well below where it was before the pandemic. Workers in these places are not really joining in with the inflationary party.
  • In Europe pre-tax profit margins, as measured in the national accounts, have risen in recent months but remain below where they were just before the pandemic.
  • In Japan the “recurring” profits before tax of large and medium-sized firms recently returned to pre-pandemic levels. The profits of smaller firms remain well below, however.
  • Here wage growth is rapid, at about 5% a year. But as shown in their most recent financial results, big listed American firms are doing a better job at protecting margins than analysts had expected.
  • A series of unusually large stimulus payments may mean that households are able to absorb the higher prices that companies impose.
  • Wages are rising, but nonetheless markups are responsible for more than 70% of inflation since late 2019,
  • In a recent report, analysts at Bank of America argue that greater pricing power helps explain why American equities have a higher price-earnings ratio than European ones.
  • Some economists wonder if workers will before long demand even higher wages to compensate for higher shop prices.
sgardner35

British Labour Leader Offers Compromise on Trident Program - The New York Times - 0 views

www.nytimes.com/...romise-on-trident-program.html

shared by sgardner35 on 18 Jan 16 - No Cached
  • British Labour Leader Offers Compromise on Trident Program
  • Stirring a divisive internal debate over defense, Jeremy Corbyn, the leader of Britain’s opposition Labour Party, suggested on Sunday that he might support the continued existence of the country’s Trident submarine fleet if it were sent on patrol without carrying nuclear
  • warheads.
  • ...11 more annotations...
  • Mr. Corbyn, who was elected as the party’s leader last year, is trying to shift Labour leftward on a range of economic issues, such as opposition to inequality and government spending cuts,
  • As a lifelong opponent of nuclear weapons, Mr. Corbyn has opposed Labour’s support for the Trident submarine system
  • Prime Minister David Cameron would be unlikely to order the use of Trident missiles, and when asked about the point of keeping submarines on patrol, Mr. Corbyn replied, “They don’t have to have warheads on them.”
  • a channel of communication to Islamic State militants should be created, and cited the secret contacts between the British government
  • Trident is a highly sensitive issue for Labour.
  • For Mr. Corbyn’s internal opponents, the issue is totemic because, while out of power in the 1980s, Labour shifted away from a unilateralist position on nuclear disarmament as part of a change championed first by Neil Kinnock and later by Tony Blair.
  • Some military figures have also argued that, in an era of strained budgets, Britain could be better off spending its scarce resources on conventional capabilities.
  • “keeping the capability to launch nuclear weapons, and therefore the ability to cause catastrophic and unimaginable destruction, is not a suitable solution, and Trident should be scrapped altogether.”
  • protection of employment in the defense sector as a priority, suggesting that his position was designed at least partly to allay concerns among union leaders
  • and the Irish Republican Army during the decadeslong conflict in Northern Ireland
  • Mr. Corbyn also said there should be a “discussion” with Argentina about the future of the Falkland Islands, and on domestic issues, suggested a repeal of laws outlawing labor action by trade unions in sympathy with other workers
Javier E

Democrats Should Worry about British Labour's Collapse | Talking Points Memo - 0 views

talkingpointsmemo.com/...about-british-labours-collapse

labour UK Politics crisis history policy Democratic party

shared by Javier E on 09 May 21 - No Cached
  • With the rise of Momentum, what had been implicit in Blair and Brown’s politics — the parties’ identification with London and the university towns — became codified in the group’s support for a cultural politics that broke with Labour’s historical commitments to family, community, and nation
  • This politics consisted of enthusiastic support for Remain.  In the runup to the 2019 vote, the activists joined hands with the pro-Blair MPs to favor a second referendum, a “people’s vote,” which they assumed would repudiate the 2016 results
  • They championed “open borders,” immediate eligibility for migrants to Britain’s extensive social services, including its free National Health Services, and voting rights for migrants, regardless of their citizenship, in national elections. They extolled “diversity” and condemned supporters of Leave as bigots and xenophobes.  Patriotism itself was identified with xenophobia.
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  • At the pre-election Labour Conference in Brighton in September 2019, which I attended, speakers called on Britain to provide reparations to make amends for its imperial past and even condemned Britain for global warming — presumably, by initiating the industrial revolution.
  • The young activists also espoused controversial views on family and gender
  • Prior to the 2019 election, an ad hoc group, the Labour Committee for Trans Rights, called for the expulsion from the party of two longstanding feminist organizations that restricted membership in their rape shelters to biological women
  • But Labour’s equivocal stand on Brexit and its identification with the cultural views of young, urban, college-educated activists overrode any appeal that its economic platform might have had.
  • In a post-election study, Paula Surridge, Matthew Goodwin, Oliver Heath, and David Cutts found the that support for Brexit was “strongly associated with cultural values.”  These values “cut across the traditional left-right divide” and undermined Labour’s historic identification with the economic left. 
  • After the election, trade unionist Paul Embery, a member of the group, wrote in his book Despised, “Labour today has virtually nothing to say to the small town and post-industrial Britain, the kind of places out there in the provinces which were once its mainstay.  It is no longer the ‘people’s party’, but the party for the woke, the Toytown revolutionary and Twitter.”
  • The other factor in Labour’s defeat in 2019 and on Thursday was Boris Johnson’s ability to get a deal on Brexit and his  move leftward on economic policy.
  • Johnson, who replaced May in July 2019,  made none of those mistakes. He got parliament to endorse the outlines of a Brexit deal, and he pledged to increase funding for the NHS and to initiate an industrial policy to “level up” Britain’s deindustrialized regions. Johnson’s politics hit the sweet spot in the British electorate: social democratic on economics, but conservative (although not in the American sense of the religious right) on social and cultural policy.  That’s the magic formula that allowed the Tories to lay siege to Labour’s Red Wall.
  • Johnson’s success with the vaccine and his budget boosted his popularity and laid the basis for the Tories’ success in Thursday’s election.
  • Starmer tried to distance Labour from Momentum, Corbyn, and the cultural left.  He declared that he was “proud to be patriotic” and advised Labour officials to display the Union Jack at their appearances.  He opposed the demand to expel the feminist groups and called on the party to “put family first.”  But as Thursday’s results showed, the damage was already done.  Barring a major misstep by Johnson and the Tories, Labour could be out of power for the rest of the decade.
  • the Democrats’ success in 2020 could prove fleeting.  In 2020, they were blessed with a candidate who was able to stem, and in a few instances slightly reverse, the flight of working class voters in middle America from the Democratic Party. That was critical to Biden’s success in a state like Pennsylvania.
  • But Biden is a 78-year-old relic who in his person and in his emphasis on economics reflects an older labor-oriented Democratic party that is being replaced by a party preoccupied with culture and identity.
  • Many of the young Democrats elevate racial issues above those of class — framing what could be universal appeals to national betterment in racial terms; they want to increase immigration and grant citizenship to unauthorized immigrants, but appear indifferent to securing America’s borders
  • they justifiably champion the rights of transgender women —  biological men who identify as women — to be free from discrimination in employment or housing, but dismiss concerns that a blanket identification of sex with declared gender could threaten rights specific to biological women;
  • and as homicides rise, and as justifiable protests against police brutality turned into mayhem and looting, they have advocated defunding  rather than reforming the police.
  • Democrats’ identification with these kind of views played a role in Democratic losses in Congressional races in 2020.
  • Democrats in 2020 were also blessed with a perfect opponent in Donald Trump.  Trump’s bigotry and corruption turned off far more voters than it attracted.
  • If Trump continues to be the poster-boy for the Republican Party, Democrats will benefit in 2022 and 2024, but if he recedes, and his most ardent followers fade into the background, the Democrats could suffer defeat in Congressional elections and in the presidential election of 2024
woodlu

Working on the chain gang - Congress is moving to block goods made with the forced labo... - 0 views

www.economist.com/...h-the-forced-labour-of-uyghurs

shared by woodlu on 14 Jan 21 - No Cached
  • China’s ruling Communist Party has overseen the internment of more than 1m Uyghurs, a predominantly Muslim ethnic group that is indigenous to Xinjiang, in mass detention centres
  • at least a half-million Uyghurs were being put to work in cotton fields, conscripted to do a job handled by machines in many parts of the world,
  • factory facilities on the grounds of more than 100 detention centres in Xinjiang.
  • ...15 more annotations...
  • In 2019 exports from the province totalled $17.6bn, about the same as in 2017 ($17.5bn), including more than $300m in goods that went to the American market in each of those years.
  • Until last year, governments and industry leaders around the world said little to directly challenge China over allegations of forced labour.
  • In March a bipartisan group of members of Congress introduced the Uyghur Forced Labour Prevention Act, which would establish a presumption that all goods from Xinjiang are made with forced labour, blocking them at the border unless companies can prove otherwise.
  • American customs officials have issued a series of orders blocking certain shipments from Xinjiang,
  • On December 23rd the Fair Labour Association, a consortium that counts Nike and Adidas among its affiliate members, declared that it was “prohibiting sourcing and production” from Xinjiang, including raw materials like cotton that might end up in finished goods elsewhere.
  • In December a bill similar to America’s was introduced in Australia’s parliament.
  • subject of intense lobbying from industry, including representatives of big clothing-makers, who have sought, among other changes, a delay of up to one year in enforcement.
  • it will take time for all of them to shift supply chains, and to encourage more cotton-growing elsewhere.
  • they expect the incoming Biden administration to continue the Trump administration’s enforcement actions against Xinjiang imports
  • they argue that it is difficult to penetrate deep into their supply chains to verify the origin of raw materials
  • Experts (as well as industry groups) argue that the efforts of Congress and the Trump administration will have a limited impact unless other governments follow suit.
  • In the European Union the issue of Uyghur forced labour hangs over an investment deal that has been negotiated with China
  • Not all businesses appear ready to decouple from Xinjiang entirely, or at least quickly
  • 88% of China’s textiles and clothing are produced for domestic consumption. Large non-Chinese firms are among those who profit.
  • American laws, aided by forensic science, will help to combat forced labour in Xinjiang. But more countries and multinational companies will also have to forgo their immediate self-interest and take on China directly
Javier E

Keir Starmer does have a vision - and it's not New Labour 2.0 | Martin Kettle | The Gua... - 0 views

www.theguardian.com/...-vision-new-labour-20-election

labor party UK strategy class vision

shared by Javier E on 17 May 23 - No Cached
  • Starmer’s course has been consistently set towards winning an outright Commons majority in 2024. When he was elected leader, he never settled for the two-term recovery many assumed he would need after the hammering Labour received at the 2019 election
  • Equally important is that the progressive prospectus he intends to offer is a national one, based on reunifying the class base of the Labour electorate rather than accepting its irresistible divergence into a delta of different political parties and traditions.
  • his is indeed Starmer’s aim, and that it is remarkably bold. It flies in the face of a considerable amount of conventional wisdom about 21st-century British electoral behaviour
  • ...6 more annotations...
  • To seek to do it on the basis that Labour can again be a national party in geographical and class terms, winning working- and middle class support alike, deserves that description even more.
  • It challenges the view that the dominant progressive parties of the industrial era must accommodate themselves to operating within a more pluralist party system and amid the looser class loyalties of the new millennium
  • it says that such segmentation is neither inevitable nor even desirable, providing that the party remains a broad church and – crucially – avoids foolish accommodations with the activist left.
  • it is certainly not New Labour 2.0 either, and calling it so does not make it so. Indeed the Starmer strategy of focusing on working-class support is at odds with one of New Labour’s most central tenets.
  • Tony Blair and Gordon Brown believed that Labour would prosper in the modern era only by reducing its dependence on working-class voters and the unions and by becoming a middle-class, progressive party, like the US Democrats.
  • This is actually quite a traditional, and almost old-fashioned, view of Labour’s role. Starmer’s aspiration to make Labour a national and essentially social democratic party again is one that Clement Attlee or Harold Wilson would have understood.
brookegoodman

5-Marx's Comm M. - Google Drive - 0 views

drive.google.com/...0BxWXwwoF4MF-U2xGbnRZYjcwQlU

homework

shared by brookegoodman on 15 Jan 20 - No Cached
  • A spectre is haunting Europe – the spectre of communism.
  • Communism is already acknowledged by all European powers to be itself a power.
  • It is high time that Communists should openly, in the face of the whole world, publish their views, their aims, their tendencies, and meet this nursery tale of the Spectre of Communism with a manifesto of the party itself.
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  • The modern bourgeois society that has sprouted from the ruins of feudal society has not done away with class antagonisms. It has but established new classes, new conditions of oppression, new forms of struggle in place of the old ones.
  • village communities were found to be, or to have been, the primitive form of society everywhere from India to Ireland.
  • the epoch of the bourgeoisie, possesses, however, this distinct feature: it has simplified class antagonisms.
  • The discovery of America, the rounding of the Cape, opened up fresh ground for the rising bourgeoisie.
  • The guild-masters were pushed on one side by the manufacturing middle class; division of labour between the different corporate guilds vanished in the face of division of labour in each single workshop.
  • It compels all nations, on pain of extinction, to adopt the bourgeois mode of production; it compels them to introduce what it calls civilisation into their midst, i.e., to become bourgeois themselves.
  • the bourgeoisie has at last, since the establishment of Modern Industry and of the world market, conquered for itself, in the modern representative State, exclusive political sway. The executive of the modern state is but a committee for managing the common affairs of the whole bourgeoisie.
  • The bourgeoisie has stripped of its halo every occupation hitherto honoured and looked up to with reverent awe. It has converted the physician, the lawyer, the priest, the poet, the man of science, into its paid wage labourers.
  • The bourgeoisie cannot exist without constantly revolutionising the instruments of production,
  • Constant revolutionising of production, uninterrupted disturbance of all social conditions, everlasting uncertainty and agitation distinguish the bourgeois epoch from all earlier ones.
  • The bourgeoisie has through its exploitation of the world market given a cosmopolitan character to production and consumption in every country.
  • The intellectual creations of individual nations become common property.
  • Each step in the development of the bourgeoisie was accompanied by a corresponding political advance of that class. An oppressed class under the sway of the feudal nobility, an armed and self-governing association in the medieval commune*
  • In one word, it creates a world after its own image.
  • He becomes a pauper, and pauperism develops more rapidly than population and wealth.
  • Independent, or but loosely connected provinces, with separate interests, laws, governments, and systems of taxation, became lumped together into one nation, with one government, one code of laws, one national class-interest, one frontier, and one customs-tariff.
  • Modern bourgeois society, with its relations of production, of exchange and of property, a society that has conjured up such gigantic means of production and of exchange, is like the sorcerer who is no longer able to control the powers of the nether world whom he has called up by his spells.
  • Society suddenly finds itself put back into a state of momentary barbarism; it appears as if a famine, a universal war of devastation, had cut off the supply of every means of subsistence; industry and commerce seem to be destroyed; and why? Because there is too much civilisation, too much means of subsistence, too much industry, too much commerce.
  • And how does the bourgeoisie get over these crises? On the one hand by enforced destruction of a mass of productive forces; on the other, by the conquest of new markets, and by the more thorough exploitation of the old ones. That is to say, by paving the way for more extensive and more destructive crises, and by diminishing the means whereby crises are prevented.
  • Owing to the extensive use of machinery, and to the division of labour, the work of the proletarians has lost all individual character, and, consequently, all charm for the workman.
  • But the price of a commodity, and therefore also of labour, is equal to its cost of production. In proportion, therefore, as the repulsiveness of the work increases, the wage decreases.
  • Modern Industry has converted the little workshop of the patriarchal master into the great factory of the industrial capitalist. Masses of labourers, crowded into the factory, are organised like soldiers.
  • Differences of age and sex have no longer any distinctive social validity for the working class. All are instruments of labour, more or less expensive to use, according to their age and sex.
  • At this stage, therefore, the proletarians do not fight their enemies, but the enemies of their enemies, the remnants of absolute monarchy, the landowners, the non-industrial bourgeois, the petty bourgeois.
  • the collisions between individual workmen and individual bourgeois take more and more the character of collisions between two classes.
  • But every class struggle is a political struggle.
  • a section of the nobility went over to the bourgeoisie, so now a portion of the bourgeoisie goes over to the proletariat, and in particular, a portion of the bourgeois ideologists, who have raised themselves to the level of comprehending theoretically the historical movement as a whole.
  • The lower middle class, the small manufacturer, the shopkeeper, the artisan, the peasant, all these fight against the bourgeoisie, to save from extinction their existence as fractions of the middle class. They are therefore not revolutionary, but conservative. Nay more, they are reactionary, for
  • The serf, in the period of serfdom, raised himself to membership in the commune, just as the petty bourgeois, under the yoke of the feudal absolutism, managed to develop into a bourgeois.
  • The bourgeoisie has subjected the country to the rule of the towns. It has created enormous cities, has greatly increased the urban population as compared with the rural, and has thus rescued a considerable part of the population from the idiocy of rural life.
  • It is unfit to rule because it is incompetent to assure an existence to its slave within his slavery, because it cannot help letting him sink into such a state, that it has to feed him, instead of being fed by him. Society can no longer live under this bourgeoisie, in other words, its existence is no longer compatible with society.
  • Its fall and the victory of the proletariat are equally inevitable.
Javier E

House prices are crumbling - and so is Britain's faith in property ownership | John Har... - 0 views

www.theguardian.com/...roperty-ownership-rent-britain

property uk real estate housing policy history politics

shared by Javier E on 05 Mar 23 - No Cached
  • one of the most absurd features of modern Britain is that “we’re not building houses in a housing crisis”
  • The average British home now costs about nine times average earnings: one estimate I recently read reckoned that the last time UK houses were this expensive was in 1876.
  • Across England, between 2021 and 2022, 21,600 social homes were either sold or demolished, but only 7,500 were built.
  • ...11 more annotations...
  • There is, needless to say, no escape route into social housing. There are reckoned to be about 1.2m households on local waiting lists in England
  • thanks to post-2010 austerity, 40 local authority areas – including Peterborough, Luton, the Isle of Wight and parts of Greater Manchester – had neither built nor acquired any new social housing between 2016 and 2021
  • : it was just a mundane and reassuring reality, and the foundation of millions of lives.
  • The private rented sector is what it has always been, only more so: a repository for people held back from either home ownership or social housing, where lives are often damaged by the rawest kind of business practices.
  • 56% of first-time buyers aged under 35 needed a “financial gift” from their parents to buy a flat or house. Even if prices slowly fall, the old Tory vision of the property-owning democracy seems to have shrunk into a rigid oligarchy, built on very familiar foundations of class, age and wealth.
  • Recent(ish) history suggests there might be an alternative: council housing with lifelong, secure tenancies. Fifty or so years ago, thanks to investment by both Labour and Conservative governments, about a third of us lived in homes like that
  • even if access to the bank of Mum and Dad means you can just about afford to buy, isn’t the current reality of shoved-up interest rates and declining property prices a reminder of what that may well entail? Chasing security now means being at the mercy of its complete opposite: the hurly burly of financial markets, and fears of negative equity and repossession.
  • The foreground of Labour policy, however, is all about home ownership. Not unreasonably, Keir Starmer sees buying a house as “the bedrock of security and aspiration”, and often makes glowing references to the pebble-dashed semi in which he grew up
  • Given the chance, he will apparently lead a government set on pursuing a 70% target for home ownership, up from England’s current figure of 64%. Th
  • the party’s first actions in government will include “helping first-time buyers on to the housing ladder and building more affordable homes by reforming planning rules”. Labour, we are told, “is the party of home ownership in Britain today”.
  • There are signs that Labour has at least the beginnings of an answer. Lisa Nandy insists that she will be the first housing minister in decades to ensure that social housing provides for more people than the private rented sector; her mantra, she says, will be “council housing, council housing, council housing”
Javier E

Economics of Good and Evil: The Quest for Economic Meaning from Gilgamesh to Wall Stree... - 2 views

DIIGO_FILE_HOME/7ui9/74ec4c99e72deda4a64da10692a15bf6

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

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

Theresa May Fends Off Labour Party in Local U.K. Elections - The New York Times - 0 views

www.nytimes.com/...tives-labour-uk-elections.html

politics

shared by oliviaodon on 05 May 18 - No Cached
  • Despite mounting troubles over Britain’s withdrawal from the European Union and a recent cabinet resignation, Prime Minister Theresa May’s Conservative Party emerged relatively unscathed from local elections, according to results released on Friday that showed that its opponents had failed to make the breakthrough many expected.
  • Labour was victorious in some key areas, but it fell short in its efforts to take control of two Conservative strongholds in London — Westminster and Wandsworth — that had been thought to be vulnerable, as well as the capital’s northern borough of Barnet, a much easier target.
  • The results will be a relief for Mrs. May, whose leadership has been in question since she called an unnecessary general election last June in which she lost her parliamentary majority. That has forced her to rely on an uneasy alliance with Northern Ireland’s Democratic Unionist Party to get legislation through Parliament.Mrs. May has survived the various threats to her leadership, and her position seemed to have stabilized thanks to her handling of the aftermath of the poisoning of the former Russian spy Sergei V. Skripal and his daughter, Yulia.
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  • Labour had allowed expectations for election gains to grow high, particularly in London, where some senior figures talked up prospects of a victory in Wandsworth. A dispute over the handling of anti-Semitism in the party may have also cost support for Labour and Mr. Corbyn, particularly in Barnet, where there is a significant Jewish population. Advertisement Continue reading the main story Nevertheless, the voting took place at a difficult time for a divided government facing many problems. In recent weeks, Mrs. May’s predicament has been complicated by the House of Lords, the unelected chamber of Parliament, which has inflicted 10 defeats on her Brexit legislation, adding amendments that she will try to overturn in the House of Commons, the main chamber.
  • Mrs. May’s problems over a withdrawal are coming to a head over her promise to leave Europe’s customs union, which guarantees tariff-free trade with Continental Europe.
  • This issue has come to symbolize a deep division: Pro-Europeans want to stick close to the bloc, Britain’s biggest trade partner, in order to protect the economy, while hard-line Brexit supporters want to break free and to negotiate other trade deals with non-European nations.
johnsonle1

For Britain's Labour Party, a Mild Defeat May Be Worst of All - The New York Times - 0 views

www.nytimes.com/...abour-party-jeremy-corbyn.html

labour party politics

shared by johnsonle1 on 03 Jun 17 - No Cached
  • johnsonle1 on 03 Jun 17
     
    Labour is suffering from a deep division between well-educated, globalized urbanites like Mr. Corbyn and its traditional white working-class constituents. Those voters supported Britain's withdrawal from the European Union, known as "Brexit," and could be tempted for the first time in generations to support a Tory on Thursday.
Javier E

What sort of Toryism will emerge from this fractious upheaval? | Eliza Filby | Opinion ... - 0 views

www.theguardian.com/...ious-upheaval-thatcherism-dead

conservatives UK brexit crisis politics History

shared by Javier E on 03 Jul 16 - No Cached
  • . A new Conservative government will soon emerge, one that has a parliamentary majority and will be faced with a Labour party that is either in the process of disintegrating or reeling from the shockwaves of internal turmoil
  • The Conservative government will charge forward with reform concurrent with the European negotiations so as to avoid the next election being simply a referendum on the Brexit settlement.
  • The key question is whether anything has happened in the last seven days to rupture the Osborne-Cameron consensus? Is there still a one-nation will existing within the party?
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  • Under David Cameron, the Tories came to rediscover what Labour seems to have forgotten, namely that elections are fought and won on the centre ground. It is possible to nudge the dial a little, but victory can only be achieved by straddling the centre while appeasing your core.
  • this is a lesson that is deep rooted within the party. One of Cameron’s greatest strengths was his longevity; as leader for over a decade, he was able to make significant progress in reshaping the parliamentary party in his own image
  • One of the outcomes of the referendum has been to prompt a new realignment within the party. The old Thatcherite v one-nation split, which admittedly has long been on the wane, has now firmly recrystallised around the new labels of Remainer and Leaver. So the present leadership contest is essentially a battle between one-nation Conservatives with only Liam Fox, the stand-alone candidate from the old school.
  • It will be one-nation Tories who will be in charge of making Brexit a reality.
  • Brexit can only be part of the solution. An agenda of social reform, which addresses some of the frustrations and divisions that the vote unmasked, is politically necessar
  • the referendum debate has provided the rationale and opportunity (given Labour’s dire state) for Cameron Conservatism to be fully realised.
  • First, it requires a more robust one-nation vision. One that moves away from offering cosy reassurances to metropolitan liberals that the Conservatives are no longer the “nasty party” (which was essentially what legalising gay marriage did) to one that addresses the concerns of those in Britain’s deindustralised heartlands
  • , a one-nation Conservative agenda cannot be seen to enact a divide, as much of Thatcher’s social reform did, between the deserving and undeserving poor or, worse, heed the Ukip agenda, creating a division between immigrants and the indigenous population.
  • When Conservatives such as Gove talk about social reform, they tend to centre on the individual, policies that help people realise their potential through opportunity. But surely, if the referendum has revealed anything, political capital needs to be realised at a community rather than individual level.
  • Second, the fate of whoever wins the leadership will depend almost entirely on how he or she negotiates Brexit and specifically, what is crucially the central plank of the deal – the balancing of freedom of movement with the freedom to trade. This will not be easy
  • If people start feeling that Brexit has not worked for them and do not soon see increases in wages, improved access to social services and a restriction on immigration then the political backlash will begin in earnest
  • If the public gets any whiff of a whitewash or if the government is seen to have sold Britain short in any way, the narrative of the “Great Betrayal” will be scripted long before the election.
  • Third, the fortunes of one-nation Conservatism will depend largely on the fortunes of the Labour party.
  • if under new leadership, Labour was somehow able to resuscitate itself and make a direct charge for the centre ground, a credible revival is still possible.
  • Cameron inadvertently has achieved his chief goal: to stop the Tories banging on about Europe.
Javier E

The future of jobs: The onrushing wave | The Economist - 0 views

www.economist.com/...e-long-run-employment-not-less

employment technology trends innovation inequality

shared by Javier E on 20 Jan 14 - No Cached
  • drudgery may soon enough give way to frank unemployment. There is already a long-term trend towards lower levels of employment in some rich countries. The proportion of American adults participating in the labour force recently hit its lowest level since 1978
  • In a recent speech that was modelled in part on Keynes’s “Possibilities”, Larry Summers, a former American treasury secretary, looked at employment trends among American men between 25 and 54. In the 1960s only one in 20 of those men was not working. According to Mr Summers’s extrapolations, in ten years the number could be one in seven.
  • A 2013 paper by Carl Benedikt Frey and Michael Osborne, of the University of Oxford, argued that jobs are at high risk of being automated in 47% of the occupational categories into which work is customarily sorted. That includes accountancy, legal work, technical writing and a lot of other white-collar occupations.
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  • The impacts of technological change take their time appearing. They also vary hugely from industry to industry. Although in many simple economic models technology pairs neatly with capital and labour to produce output, in practice technological changes do not affect all workers the same way. Some find that their skills are complementary to new technologies. Others find themselves out of work.
  • The case for a highly disruptive period of economic growth is made by Erik Brynjolfsson and Andrew McAfee, professors at MIT, in “The Second Machine Age”, a book to be published later this month. Like the first great era of industrialisation, they argue, it should deliver enormous benefits—but not without a period of disorienting and uncomfortable change
  • Their argument rests on an underappreciated aspect of the exponential growth in chip processing speed, memory capacity and other computer metrics: that the amount of progress computers will make in the next few years is always equal to the progress they have made since the very beginning. Mr Brynjolfsson and Mr McAfee reckon that the main bottleneck on innovation is the time it takes society to sort through the many combinations and permutations of new technologies and business models.
  • A startling progression of inventions seems to bear their thesis out. Ten years ago technologically minded economists pointed to driving cars in traffic as the sort of human accomplishment that computers were highly unlikely to master. Now Google cars are rolling round California driver-free
  • Even after computers beat grandmasters at chess (once thought highly unlikely), nobody thought they could take on people at free-form games played in natural language. Then Watson, a pattern-recognising supercomputer developed by IBM, bested the best human competitors in America’s popular and syntactically tricksy general-knowledge quiz show “Jeopardy!” Versions of Watson are being marketed to firms
  • Text-mining programs will displace professional jobs in legal services. Biopsies will be analysed more efficiently by image-processing software than lab technicians. Accountants may follow travel agents and tellers into the unemployment line as tax software improves. Machines are already turning basic sports results and financial data into good-enough news stories.
  • A taxi driver will be a rarity in many places by the 2030s or 2040s. That sounds like bad news for journalists who rely on that most reliable source of local knowledge and prejudice—but will there be many journalists left to care? Will there be airline pilots? Or traffic cops? Or soldiers?
  • Tyler Cowen, an economist at George Mason University and a much-read blogger, writes in his most recent book, “Average is Over”, that rich economies seem to be bifurcating into a small group of workers with skills highly complementary with machine intelligence, for whom he has high hopes, and the rest, for whom not so much.
  • the second machine age will make such trial and error easier. It will be shockingly easy to launch a startup, bring a new product to market and sell to billions of global consumers (see article). Those who create or invest in blockbuster ideas may earn unprecedented returns as a result.
  • Thomas Piketty, an economist at the Paris School of Economics, argues along similar lines that America may be pioneering a hyper-unequal economic model in which a top 1% of capital-owners and “supermanagers” grab a growing share of national income and accumulate an increasing concentration of national wealth
  • The rise of the middle-class—a 20th-century innovation—was a hugely important political and social development across the world. The squeezing out of that class could generate a more antagonistic, unstable and potentially dangerous politics.
  • The current doldrum in wages may, like that of the early industrial era, be a temporary matter, with the good times about to roll (see chart 3). These jobs may look distinctly different from those they replace. Just as past mechanisation freed, or forced, workers into jobs requiring more cognitive dexterity, leaps in machine intelligence could create space for people to specialise in more emotive occupations, as yet unsuited to machines: a world of artists and therapists, love counsellors and yoga instructors.
  • though growth in areas of the economy that are not easily automated provides jobs, it does not necessarily help real wages. Mr Summers points out that prices of things-made-of-widgets have fallen remarkably in past decades; America’s Bureau of Labour Statistics reckons that today you could get the equivalent of an early 1980s television for a twentieth of its then price,
  • owever, prices of things not made of widgets, most notably college education and health care, have shot up
  • As innovation continues, automation may bring down costs in some of those stubborn areas as well, though those dominated by scarcity—such as houses in desirable places—are likely to resist the trend, as may those where the state keeps market forces at bay. But if innovation does make health care or higher education cheaper, it will probably be at the cost of more jobs, and give rise to yet more concentration of income.
  • Adaptation to past waves of progress rested on political and policy responses. The most obvious are the massive improvements in educational attainment brought on first by the institution of universal secondary education and then by the rise of university attendance. Policies aimed at similar gains would now seem to be in order. But as Mr Cowen has pointed out, the gains of the 19th and 20th centuries will be hard to duplicate.
  • Boosting the skills and earning power of the children of 19th-century farmers and labourers took little more than offering schools where they could learn to read, write and do algebra. Pushing a large proportion of college graduates to complete graduate work successfully will be harder and more expensive. Perhaps cheap and innovative online education will indeed make new attainment possible. But as Mr Cowen notes, such programmes may tend to deliver big gains only for the most conscientious students.
  • Everyone should be able to benefit from productivity gains—in that, Keynes was united with his successors. His worry about technological unemployment was mainly a worry about a “temporary phase of maladjustment” as society and the economy adjusted to ever greater levels of productivity
  • However, society may find itself sorely tested if, as seems possible, growth and innovation deliver handsome gains to the skilled, while the rest cling to dwindling employment opportunities at stagnant wages.
Javier E

What makes Victoria Bateman strip? The naked Brexit protester reveals all | Times2 | Th... - 0 views

www.thetimes.co.uk/...rotester-reveals-all-7dq0ztwhw

West economic progress culture economics history

shared by Javier E on 28 Mar 19 - No Cached
  • Her new book, The Sex Factor: How Women Made the West Rich
  • After a lucid summary of the conventional explanations for the West’s flourishing, she submits that each misses the secret ingredient: the relative empowerment of our women. From the 17th century on, the average age for women to marry in the West was unusually high — mid-twenties — so they had fewer children. That lifted families’ living standards, reduced the supply of labour, forced wages up and encouraged industrialisation
  • “Every economy is built on the reproductive and caring labour that women have historically provided from the home. Labour hasn’t magicked itself out of thin air. It’s been the creation of women’s hard reproductive and caring labour.”
Javier E

Andrew Sullivan: New Hope and New Danger on the Left - 0 views

nymag.com/...nd-new-danger-on-the-left.html

climate change trauma dystopia depression extinction birthrate catastrophe crime against humanity psychology Democratic party extremism leftist UK labor history

shared by Javier E on 23 Feb 19 - No Cached
  • I can’t help drawing parallels between what we’re seeing in Democratic Party and the similar far-left wave of enthusiasm in Britain, where a new tide of youthful energy has flooded the British Labour Party and transformed its ambitions almost overnight from ameliorating capitalism to full-on socialism.
  • There was an infectiousness to the excitement in 2015, in part because full-fledged socialism seemed to be answering a genuine and massive crisis of capitalism.
  • It spoke to those under 40 whose futures are debt-ridden, who have little hope of property ownership, and struggle to manage with precarious, low wages. It rallied a sense of the common good against the isolation and depression of austerity. It actually took the science of climate catastrophe seriously
  • ...38 more annotations...
  • It’s worth noting that the original version of the Green New Deal was devised by the left-leaning British National Economic Foundation, as a means for recovery after the 2008 economic collapse
  • Once Labour’s full, staggeringly bold proposals were unveiled, support for the party soared
  • Labour climbed a full 20 points in the six weeks of the 2017 campaign, robbing the Tories of a majority in the Parliament
  • So it seems to me there is a massive opportunity for the left now across the Western world. Look at how popular a 70 percent top rate is … in America! The left is correct to sense a huge opportunity and they are right, I think, to be bold.
  • I wrote about Jeremy Corbyn’s Labour last year in these pages, and that, under his leadership, “it turned out to be difficult to propel a new movement of left radicalism without simultaneously tapping into a vein of left extremism,” and that seems to me to be precisely the challenge in the U.S. as well
  • the full package from the contemporary radicalized left in both the U.K. and U.S. brings with it far more troubling ideas
  • If they insist on calling our multicultural and multiracial democracy a manifestation of “white supremacy,” they will empower real white supremacists.
  • A passion for social justice curdles into attacks on free speech
  • Postmodern critical gender theory denies any meaningful natural differences between men and women, and casts an entire sex as inherently problematic
  • Concern about mass immigration is dismissed as nothing but racism and xenophobia.
  • so Labour, after so much promise and success, has not been able to get any sustainable polling lead over the most shambolic Tory government in memory.
  • If the Democrats want to fight the next election on the need for a radical rebalancing of the economy in favor of the middle and working class, for massive investment in new green technology, for higher taxes on the superrich, and for health-care security for all Americans, they can win
  • If they conflate those goals with extremist rhetoric about abolishing everyone’s current health insurance, and starting from scratch, as the Green New Deal advises, not so much
  • If they insist that men and women are indistinguishable, that girls can have penises and boys can have periods, as transgender ideology now demands, they’ll seem nuts to most fair-minded people.
  • Hostility to the policies of the state of Israel — a perfectly legitimate position — morphs swiftly into ugly anti-Semitic tropes
  • It’s not easy to find any heroes in Washington these days, so allow me to eulogize one. Walter Jones was a longtime Republican congressman from North Carolina, who died earlier this wee
  • Are they really capable of fucking this up once again? The answer that is emerging in the first months of the new Democratic House is: of course they can.
  • we may be underestimating what the constant drumbeat of news about the accelerating sixth great extinction has been doing to us psychologically.
  • I’m haunted all the time by the knowledge of what my lifetime will have witnessed. Humans are committing countless species to death; we are destroying the life of our oceans and skies; we are changing the planet’s ecosystem more quickly than at any time since the asteroids wiped out the dinosaurs. From the perspective of life itself, we are conducting a holocaust of the natural world. How is the knowledge of this not traumatizing?
  • A new report from the Institute for Public Policy Research notes, according to the BBC, that “since 1950, the number of floods across the world has increased by 15 times, extreme temperature events by 20 times, and wildfires seven-fold.”
  • Last week, research emerged showing that the insect biomass is declining by 2.5 percent a year, which means that we may wipe out the entire insect population within a century — and lose a quarter of it in the next ten years.
  • This amounts to what Jill Kieldash describes as the “actual structural and functional collapse of the natural systems which have supported life on Earth for the last 400 million years.”
  • I don’t know how this paradigm affects you every day, but it is for me the gutting context for everything, a growing nausea laced with guilt and shame.
  • In a century, we will have destroyed this Earth as we have known it — in absolutely full awareness of what we are doing. It’s the greatest crime humanity has ever committed
  • One answer could be that they are behaving in a classic way when a catastrophe strikes: They’re traumatized by this knowledge, and they cope with this trauma by a classic form of disassociation. In fact, we are all living through this collective trauma
  • Once we become aware of its true scope, depth, and accelerating pace, we then begin to view everything else through the traumatic lens of the climate crisis
  • How could anyone with a reasonably realistic, educated worldview not be haunted by the perpetual specter of Climate Trauma when considering fundamental life and identity choices?
  • I am not surprised by declining birth rates in the West. Having a child in today’s era means initiating another human being into the end of the world as we have known it
  • I find my own witnessing of the collapse of liberal democratic values in the West inseparable from the mass extinction of life on Earth our civilization has wrought — and the double depression this creates makes me want to escape
  • this collective trauma is never-ending. It’s a 9/11 all the time. Woodbury notes the similarity between our knowledge of future planetary collapse and a diagnosis of a terminal disease: “You may put it out of your mind for spells, but the grief associated with prospective loss comes at you in waves.
  • The challenge is to resist disassociation — which is “the human capacity to mentally escape an insufferable reality.
  • We are disassociating from America in our current dystopian politics. But we are also, more profoundly, disassociating ourselves from our deepest ecological reality: that we are killing what created us. And we cannot seem to stop.
  • If they call a border wall an “immorality” and refuse to fund a way to detain and humanely house the huge surge of migrant families and children now overwhelming the southern border (up 290 percent over the same period in 2018, with a record 1,800 apprehensions on Monday of this week alone!), they will rightly be called in favor of open borders
  • when it became clear that the Iraq War had been based on phony intelligence, he actually changed his mind. More than that: He took moral responsibility for his vote for the war, and rethought a great deal of his previous views. Ashamed of what he had done — and the lives lost because of the war — he went on to write 12,000 letters to family members of service members killed
  • he tirelessly fought to bring back war-making powers to the Senate, where they belong. He took on his own party leadership in demanding votes before military adventures
  • He was that very rare creature: a true Republican fiscal conservative
  • Of course a man of this character was a dogged defender of his own constituents, especially those in the military subjected to unfairness or injustice of any kin
  • This didn’t make him a liberal. It made him a conservative. And he proved that to be a conservative these days — a humane, decent, honest, principled conservative — you really have no place in the Republican Party
malonema1

Jeremy Corbyn Lost U.K. Election, but Is Still Its Biggest Winner - The New York Times - 0 views

www.nytimes.com/...eremy-corbyn-labour-party.html

UK politics

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  • Jeremy Corbyn Lost U.K. Election, but Is Still Its Biggest Winner
  • It was a scathing put-down. “He can lead a protest, I’m leading the country,” Prime Minister Theresa May of Britain said about the leader of the opposition Labour Party, Jeremy Corbyn.Over the past seven weeks, Mr. Corbyn led the protest of his life. As Mrs. May faltered, stumbling her way toward an election she herself had called, the veteran left winger and serial campaigner turned his party into a movement.
  • Mr. Corbyn did lose the election. But he won more than anyone else. He deprived the prime minister who had treated him with such dismissiveness of both her Parliamentary majority and her authority. Far from obliterating Labour, he re-energized it, shifting its politics far to the left.
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  • A five-time winner of the parliamentary beard of the year, Mr. Corbyn is Britain’s Bernie Sanders, another grizzled firebrand who inspired a generation of young voters to become politicized and, at least this week, turn out to vote. Mr. Corbyn’s fans call themselves Corbynistas.
  • In 2015, after more than three decades as a lawmaker, he had to be persuaded to stand for the party leadership, agreeing only reluctantly and in order to enable the left to present a candidate. No one, not even Mr. Corbyn himself, expected him to win. If ever there were an accidental leader, he is it. Advertisement Continue reading the main story
  • Labour “bet the farm” on increasing the turnout among young voters by promising to abolish student tuition, at a cost of 11 billion pounds, Mr. Fielding said. “It gave a very tangible retail offer to young voters — the first time young
  • voters have been given this.”
  • Mr. Corbyn grew up in a political household (his parents met during the Spanish Civil War) and was himself galvanized into activism by the Vietnam War and environmental issues, particularly his opposition to nuclear power — and Britain’s nuclear deterrent policy.
  • With his core vote for now still far to the left of Middle England, Mr. Corbyn seems unlikely ever to run Britain. But that may not trouble a man who, almost uniquely among prominent politicians, shows few signs of wanting power, at least in any personal sense.
  • “I want to be in government so that we can conquer the housing crisis in Britain,” he said. “I want to be in government so that people get a real chance in life.”
liamhudgings

What Are the Real Lessons of the U.K. Election for 2020? | The New Yorker - 0 views

www.newyorker.com/...ns-of-the-uk-election-for-2020

Britain Policy politics

shared by liamhudgings on 15 Dec 19 - No Cached
  • “Boris Johnson is winning in a walk,” Joe Biden told the attendees at a fund-raiser in San Francisco on Thursday night, referring to the Prime Minister and Conservative Party leader. “Look what happens when the Labour Party moves so, so far to the left.”
  • Several Labour Party veterans whom I spoke with on Friday insisted that the lousy result for Labour came down to Corbyn’s political persona proving anathema to the Party’s traditional working-class base—and there are some opinion-poll data that bear this out.
  • for every time Brexit was raised on the doorsteps, the leadership was raised four more—even by those sticking with us. There was visceral anger from lifelong Labour voters who felt they couldn’t vote for the party they had supported all their lives because of ‘that man at the top.’ 
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  • In 2015, shortly after he took over as Labour’s leader, he refused to sing the national anthem—“God Save the Queen”—during a memorial service for the Battle of Britain, the air war, in 1940, in which the Royal Air Force fought off Hitler’s marauding Luftwaffe.
  • As the national-anthem example indicates, Corbyn isn’t a very skilled politician—or, alternatively, he is a man of such high principle that he refuses to trim his positions at all to win votes.
  • Johnson and his chief adviser, Dominic Cummings, sensed the intense public frustration and built their entire election campaign around the slogan “Get Brexit Done.”
  • Like Donald Trump’s “Make America Great Again,” Johnson’s slogan was simple, catchy, and misleading.
  • Voters often say that they support individual policies of progressive and left-wing parties, but history suggests that getting the public to elect such parties to government requires a plausible, persuasive leader and a favorable environment.
rerobinson03

Feudalism - Ancient History Encyclopedia - 0 views

www.ancient.eu/Feudalism

shared by rerobinson03 on 01 Nov 20 - No Cached
  • Feudalism was the system in European medieval societies of the 10th to 13th centuries CE whereby a social hierarchy was established based on local administrative control and the distribution of land into units (fiefs). A landowner (lord) gave a fief, along with a promise of military and legal protection, in return for a payment of some kind from the person who received it (vassal).
  • military service or the regular payment of produce or money
  • The word ‘feudalism’ derives from the medieval Latin terms feudalis, meaning fee, and feodum, meaning fief
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  • The feudal system proper became widespread in Western Europe from the 11th century CE onwards, largely thanks to the Normans as their rulers carved up and dished out lands wherever their armies conquered.
  • Starting from the top of society’s pyramid, the monarch – a good example is William the Conqueror (r. 1066-1087 CE) who considered all the lands of England as his personal property – could give a parcel of land (of no fixed size) to a noble who, in return, would be that monarch’s vassal,
  • The most common and needed service was military service,
  • The system was often weighted in favour of the sovereign as when a noble died without an heir, his estate went back to the monarch to either keep for themselves or to redistribute to another noble.
  • The arrangement which created a vassal was known as ‘homage’ as they often knelt before their particular lord and swore an oath of loyalty, for which, in return, they not only received the land but also their lord’s protection if and when required.
  • The feudal system perpetuated itself as a status quo because the control of land required the ability to perform military service and, because of the costs involved (of weapons, armour and horses), land was required to fund military service. Thus there was a perpetual divide between the landed aristocracy (monarchs, lords, and some tenants) and those who worked the land for them who could be free or unfree labourers.
  • Unfree labourers were serfs,
  • who were at the bottom of the social pyramid and who made up the vast majority of the population
  • The nobles who had received land, often called suzerain vassals, could have much more than they either needed or could manage themselves and so they often sub-let parts of it to tenant vassals.
  • In addition, the system could create serious unrest. Sometimes a monarch might insist on active military service because of a war but nobles might also refuse, as happened to King John of England in 1215 CE and the Barons' Revolt which led to the signing of the Magna Carta.  In 1215 CE, and in subsequent revolts in the 13th century CE, the barons were acting collectively for their own interests which was a direct threat to the entire system of feudalism, based as it was upon single lords and vassals working out their own private arrangements.
  • The feudal system was essentially based on the relationship of reciprocal aid between lord and vassal but as that system became more complex over time, so this relationship weakened. Lords came to own multiple estates and vassals could be tenants of various parcels of land so that loyalties became confused and even conflicting with people choosing to honour the relationship that suited their own needs best.
  • Another blow to the system came from sudden population declines caused by wars and plagues, particularly the Black Death (which peaked between 1347-1352 CE), and by peasant revolts (most famously in England in 1381 CE)
  • Such crises caused a chronic shortage of labour and the abandonment of estates because there was no one to work them. The growth of large towns and cities also saw labour leave the countryside to find a better future and the new jobs available there.
  • By the 13th century CE, the increase in commerce and the greater use of coinage changed the way the feudal system worked. Money allowed lords to pay their sovereign instead of performing military service; the monarch’s use of mercenaries then meant military service, and thus the barons themselves became less important to the defence of the realm. Conversely, a monarch could now distribute money instead of land in his system of rewards
Javier E

Britain's Guilty Men and Women - The Atlantic - 0 views

www.theatlantic.com/...671812

history uk pm crisis decline politics

shared by Javier E on 22 Oct 22 - No Cached
  • Today, Britain is very much not on the edge of national annihilation, whatever the hyperbolic coverage of the past few weeks might suggest. But it is in the grip of chaotic mismanagement that has left the country poorer and weaker, having lost its fourth prime minister in six turbulent years since the Brexit referendum and with an economy pushed close to its breaking point.
  • when did this era of the small people begin? What was its genesis?
  • He had also signed up to a new European treaty that left a fatal tension at the heart of Britain’s membership in the European Union. Major’s European compromise left Britain inside the European Union but outside its single currency. In time, the inherent tension in this position would reveal itself in disastrous fashion—the historian Niall Ferguson has called it “Brexit 1.0.”
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  • 1990 offers a deeper origin story. That was the year Margaret Thatcher was pulled from office and replaced by John Major, a man no one thinks of as a giant. Major inherited a country in a stronger position than at any time since the 1960s, yet handed over power to Tony Blair having frittered away the Conservative Party’s reputation for economic management.
  • The stars of the show were the three prime ministers before her—Boris Johnson, Theresa May, and David Cameron—with supporting roles for the former chancellor George Osborne and former Deputy Prime Minister Nick Clegg.
  • When Blair left office in 2007, the country was still relatively unified and prosperous. It fell to Gordon Brown, Blair’s replacement, to watch everything explode in the great financial crisis. All of these milestones—1990, 1997, and 2007—have legitimate claims to be the genesis of the current crisis. Yet none quite fits. The regime of little men had not begun. That came in 2010
  • For the past 12 years, Britain has been led by a succession of Conservative prime ministers—each, like Russian dolls, somehow smaller than the last—who have contrived to leave the country in a worse state than it was when they took over
  • Without Truss realizing it, Britain had become too weak to cope with a leader so small.
  • In this absurd hospital drama, there were also walk-on parts for two former Labour leaders, Ed Miliband and Jeremy Corbyn. And Boris Johnson is now attempting a comeback!
  • May was a serious, qualified, thoughtful Conservative who had opposed Brexit but now assumed responsibility for it. But she was simply not up to the job. Being prime minister requires not just diligence and seriousness but political acumen and an ability to lead. She had too little of either.
  • Both Cameron and Clegg had been elected leader of their respective parties through American-style primaries. Back then, such votes were lauded as “democratization,” much-needed medicine to treat an ailing old constitution. They were no such thing. Rather than injecting more democracy into the process, they did the opposite—empowering tiny caucuses to send their minority tribunes to challenge parliamentary rule.
  • Miliband would further “modernize” the process with rule changes that would send the party careering toward populist extremism and electoral annihilation under Jeremy Corbyn. In time, such institutional vandalism would have dire consequences for both the Conservative and Labour Parties, and therefore the country.
  • Cameron and Clegg went to work hacking back public spending with extraordinary severity. The result was that Britain experienced the slowest economic recovery in its history, which meant that the coalition government failed to balance the books as it had hoped—exactly, in fact, as Labour had warned would happen
  • Britain had bailed out the bankers and then watched them get rich while the rest of the country got poorer. No wonder people were angry.
  • Cameron began to panic about the threat to British interests from a more cohesive euro-zone bloc—which was an inevitable consequence of Major’s compromise. After Cameron’s demands for new safeguards to those interests were ignored, he vetoed the euro zone’s reforms. The euro zone went ahead with them anyway. One year into Cameron’s premiership, in 2011, the nightmare of British isolation within the EU had come true.
  • For the next five years, the British prime minister took a series of gambles that ended in disaster. Alarmed by his veto failure, Cameron concluded that Britain needed to renegotiate its membership entirely—and put it to voters in a referendum, which he promised in 2013. By then he had also agreed to a referendum on Scottish independence. Britain’s future was on the line not once but twice.
  • A year after his election victory, Cameron had to keep his promise of a referendum on Europe, lost, and resigned. As with the Scottish case, he had refused to countenance any preparations for the possibility of a winning Leave vote. Cameron left behind a country divided and a Parliament that did not want Brexit but was tasked with delivering it without any idea how. By any estimation, it was a catastrophic miscarriage of statecraft.
  • A second origin date, then, might be 1997, when Tony Blair came to power. Blair proved unable to change Major’s compromise and pursued instead a series of radical constitutional changes that slowly undermined the unity of the country he thought he was building.
  • May was hampered throughout her troubled final years as prime minister with a leader of the opposition in Jeremy Corbyn, who was ideologically hostile to any conciliation or compromise with the Tories, empowered by both his own sense of righteous purity and the mandate he had twice received from Labour Party members. He, after all, had a mandate outside Parliament.
  • Despite his brief tenure, Johnson remains one of the most influential—and notorious—figures in postwar British history. Without him, the country likely would not have voted for Brexit in the first place, let alone seen it pushed through Parliament.
  • In their first act in power, Truss and Kwarteng blew up the British government’s reputation for economic competence—and with it went the household budgets of Middle England.
  • Guilty Men was indeed something of a character assassination of Neville Chamberlain, Baldwin, and MacDonald, among others. Many historians now say these appeasers of the 1930s bought their country much-needed time.
  • each, unquestionably, left their country poorer, weaker, angrier, and more divided. Over the past 12 years, Britain has degraded. A sense of decay fills the air, and so, too, a feeling of genuine public fury.
Javier E

Keir Starmer: Trans rights can't override women's rights - 0 views

www.thetimes.co.uk/...erride-womens-rights-m70dw55dp

UK labor party strategy leader trans feminist

shared by Javier E on 02 Apr 23 - No Cached
  • after seeing the political turmoil that engulfed Nicola Sturgeon’s final days as Scottish first minister, Starmer is keen to clarify both his personal and his party’s position on the subject.
  • Speaking about Sturgeon’s gender recognition bill, which proposed self-identification for those wishing to change their legal gender, Starmer says: “The lesson from Scotland is that if you can’t take the public with you on a journey of reform, then you’re probably not on the right journey. And that’s why I think that collectively there ought to be a reset in Scotland.”
  • It sounds like a marked change of tone from the Labour leader, whose party prevaricated over the issue only weeks ago by first whipping its MSPs to vote for the gender bill in Holyrood, then asking MPs in Westminster to abstain when the government exercised its veto over the legislation.
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  • Labour’s troubles don’t end there. For months Starmer and his shadow cabinet have tied themselves in knots attempting to answer what appears to be a rather basic question: can a woman have a penis?
  • Starmer’s failure to articulate a simple position has put him on a collision course with feminist groups and his own MP Rosie Duffield, who has claimed that the party has a “women problem”
  • he says: “For 99.9 per cent of women, it is completely biological . . . and of course they haven’t got a penis.”
  • According to the 2021 census, 262,000 people in Britain — 0.5 per cent of the population — stated that their gender identity was different to their sex registered at birth. Of those, 48,000 — 0.1 per cent — identified as a trans woman.
  • Starmer says: “Look, of course I’d want to know. I say that as a parent. I would want to know and I think the vast majority of parents would want to know. That’s why we have to have national guidance on it and they should try to make it cross-party, because it’s not helpful to parents or schools to have this as just a toxic divide when what’s needed is practical, common sense advice.
  • In an attempt to win back the support of gender critical campaigners and MPs, Starmer is eager to stress that there will be “no rolling back” on women’s hard-won rights, saying: “I think there is a fear that somehow there could be the rolling back of some of the things that have been won. There are still many battles that need to go ahead for women and I don’t think we should roll anything back. I think we should go on to win the next battles for women. And that is a very important sort of starting point for this debate.”
  • “To recognise that they need legal support and a framework and most people don’t disagree with that, and that’s the framework within which we ought to look at these issues. But simply turning it into a toxic divide advances the cause of no one, the cause of women or those that don’t identify with the gender that they were born into.
  • And it’s also a pattern of behaviour of the last ten years which is now turning everything into a toxic culture, when it possibly can, which is the last resort of politicians who have nothing substantive to say on the issue.”
  • On the subject of children, Starmer, who has a son and daughter with his wife, Victoria, is also clear that there is a need for greater transparency from teachers
  • only 39 out of 140 English secondary schools were “reliably informing” parents when pupils identified as trans or questioned their gender.
  • He adds: “There are some people who identify as a different gender to the one they are born with. It’s a very small number and that is why the Gender Recognition Act was passed [in 2004].
  • he is clear that in order for Labour to overturn the Tories’ majority — which was a historic 80 seats at the 2019 election — it will require him to stick to his three-part plan for power: to change the party, expose the government’s failings, and have the answers to the challenges facing the country.
  • “You’ve got to have a race strategy. And my strategy was that you’ve got to be in the leading pack as you go round the track three and three-quarter times. But you shouldn’t hit the front too early
  • each time you go round the lap, there are people on the side going: go faster, pump harder . . . And what we’ve had to do over the last three years is to keep the discipline, which is that we have got a strategy, we are operating to it and there is such a determination to get us over the finishing line, which would be such an incredible achievement if we can go from the disastrous defeat of the 2019 election into power.”
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