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anniina03

How Impeachment Will Force Senators Off the Campaign Trail - The New York Times - 0 views

  • It’s the fourth quarter. The game is close. And you are benched. That could sum up the frustrations of four senators — two of them front-runners for the Democratic presidential nomination — who will be duty bound to leave the campaign trail next week to sit in judgment of President Trump.
  • With members of the Senate serving as official jurors who will determine Mr. Trump’s guilt or innocence, three participants in Tuesday’s debate, Amy Klobuchar, Bernie Sanders and Elizabeth Warren, must head back to Washington in the midst of the campaign.
  • During a rally in Iowa last week, Mr. Sanders, a leading contender as well, complained about the interruption, but also emphasized duty. Editors’ PicksThe Sex Scene Evolves for the #MeToo EraTech Bro Uniform Meets Margaret Thatcher. Disruption Ensues.The Cookbooks You Need for 2020, as Selected by ChefsAdvertisementContinue reading the main story“Between you and me I’d rather be here in Iowa, but I have a constitutional responsibility, which I accept as a United States senator, to be a juror in Trump’s impeachment trial,” he said. “So I’ll be there.”
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  • “Having your competitors stuck in Washington, literally in their seat, while you’re hitting the campaign trail? Well, that seems like a pretty good advantage to me,” Mr. Cornyn said on the Senate floor. Mr. Biden, though, pointed out during the debate that his family had also suffered as a result of the allegations that led to Mr. Trump’s impeachment.
anniina03

How Hard Is It to Quit Coal? For Germany, 18 Years and $44 Billion - The New York Times - 0 views

  • Germany announced on Thursday that it would spend $44.5 billion to quit coal — but not for another 18 years, by 2038.
  • The move shows how expensive it is to stop burning the world’s dirtiest fossil fuel, despite a broad consensus that keeping coal in the ground is vital to averting a climate crisis, and how politically complicated it is.
  • Germany doesn’t have shale gas, as the United States does, which has led to the rapid decline of coal use in America, despite President Trump’s support for coal. Germany also faces intense opposition to nuclear power. After the Fukushima disaster in 2011, that opposition prompted the government to start shutting down the country’s nuclear plants, a transition that should be complete by 2022.
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  • “Germany, one of the strongest and most successful industry nations in the world, is taking huge steps toward leaving the fossil fuel era,” Finance Minister Olaf Scholz said at a news conference in Berlin.
  • Environmental organizations criticized the government plan for being too slow and for not expanding renewable energy sources quickly enough. “The majority of the necessary reductions are being pushed to the end of the 2020s,” said Christoph Bals, policy director for the environmental group Germanwatch.
  • Renewable energy is getting cheaper. Private investors are shying away from new projects. There is far greater awareness of the deadly particulate matter pollution that comes out of coal-fired power plants.Editors’ PicksA Meticulous Account of Trump’s Tenure Reads Like a Comic Horror StoryTech Bro Uniform Meets Margaret Thatcher. Disruption Ensues.Olivia Palermo Got a Lot Out of That InternshipAdvertisementContinue reading the main storyYet coal remains ascendant in some parts of the world, in part because it has been the go-to fuel for so long, it employs millions of people globally, and because the industry often enjoys robust political backing.
  • Eastern European countries, particularly Poland and the Czech Republic, still rely heavily on coal. The European Union this week created a €100 billion fund to aid their transition to cleaner fuels.
  • The Asia-Pacific is where coal continues to grow. China, which consumes half of the world’s coal, continues to build more coal plants at home and abroad. According to the International Energy Agency, China’s domestic coal demand is projected to keep growing for at least the next two years, before it levels off. China’s coal expansion puts its own climate targets at risk
  • And even as it reels from wildfires made more intense by climate change, Australia, one of the world’s biggest coal exporters, is digging for more, encouraged in part by the growing Asian market. Among the most contentious projects is a new $2 billion coal mine in the country’s northeast.
anonymous

Woman Who Mailed Threat to Susan Collins Gets 30 Months in Prison - The New York Times - 0 views

  • Suzanne Muscara, 38, sent a threatening letter to the senator’s home in 2018 after becoming upset with her vote to confirm Brett Kavanaugh as a Supreme Court justice, the authorities said.
  • The woman, Suzanne Muscara, 38, of Burlington, Maine, who was convicted during a daylong trial in November of mailing a threatening communication, will also have to complete three years of supervised release after finishing her prison term, Judge Lance E. Walker of U.S. District Court in Maine ruled.
  • Ms. Collins depicting her as a stick figure with X’s for eyes. The word “AnthRAX!!!” and “HA HA HA!!!” were also written on the letter. (The Postal Service had been monitoring mail to the senator because of a piece of threatening mail that had been received at her home on Oct. 15.)
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  • Ms. Muscara had faced a maximum sentence of 10 years and a $250,000 fine. She has been incarcerated since her arrest and will receive credit for the 18 months of her confinement, Andrew McCormack, an assistant U.S. attorney for the District of Maine, said in an interview on Friday.Editors’ PicksHow the Trump Era Has Strained, and Strengthened, Politically Mixed Marriages‘We Don’t Have to Put Up With This’: A Candid Conversation About BodiesThe Year of BlurAdvertisementContinue reading the main story
  • n June, a Mississippi man was charged with threatening Representative Bennie Thompson and his staff members. And this month the F.B.I. arrested more than a dozen right-wing extremists whom they accused of plotting to kidnap and murder Gov. Gretchen Whitmer of Michigan.
xaviermcelderry

Win or Lose, Trump and Biden's Parties Will Plunge Into Uncertainty - The New York Times - 0 views

  • PLANO, Texas — Fighting for his political survival from the second floor of his campaign bus last week, Senator John Cornyn warned a small crowd of supporters that his party’s long-held dominance in this historically ruby-red state was at risk.
  • Asked whether Mr. Trump, the man who redefined Republicanism, was an asset to Mr. Cornyn’s re-election effort, the senator was suddenly short on words.“Absolutely,” he said, stone-faced.
  • This year’s election seems likely to plunge both Republicans and Democrats into a period of disarray no matter who wins the White House.
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  • Traditionally, presidential elections provide clarity on how a party sees its political future.
  • Today, with both presidential candidates content to make the race a referendum on Mr. Trump, questions about him have overshadowed the debates raging within both parties over how to govern a country in the midst of a national crisis.
  • If Mr. Biden wins, progressive Democrats are preparing to break their election-season truce, laying plans to push for liberals in key government posts, including Senator Elizabeth Warren of Massachusetts as Treasury secretary. If Mr. Biden loses, progressives will argue that he failed to embrace a liberal enough platform.
  • Four years ago, Mr. Trump mounted a hostile takeover of the Republican Party, winning the support of the party’s base with a message that shredded mainstream conservative ideology on issues like fiscal responsibility, foreign policy and trade.
  • “Nothing focuses the mind like a big election loss,” said Mr. Flake, who was one of many Republicans to retire in 2018 and who has endorsed Mr. Biden for president. “The bigger the better when it comes to the president.”
  • Rather than engage women or voters of color, the president expanded Republican margins with white, working-class voters, said Mr. Fleischer, a former press secretary for Mr. Bush who has come to embrace Mr. Trump after leaving his ballot blank in 2016.
  • Mr. Hawley argued that Republicans should embrace the populist energy of their voters by pursuing the breakup of big technology companies, voicing skepticism of free trade and making colleges more accountable for their high tuition costs.“If the party is going to have a future, it’s got to become the party of working people,” he said.
  • Democrats face their own divides over whether to use the moment of national crisis to push for far-reaching structural changes on issues like health care, economic inequality and climate change.
  • In Texas, a rising number of young, liberal politicians believe they can finally turn the conservative state blue by embracing a progressive platform.
  • “I didn’t know at the time how much I really disagreed with Bush on some things,” Mr. Wurst said. “Look at what Mr. Trump has gotten done. I don’t like his tone, but sometimes you have to look at results.”
  • No matter who wins, Democrats will be split between younger progressives and a moderate old guard. And a Republican Party redefined in President Trump’s image will start weighing where it goes next.
  • both parties appear destined for an ideological wilderness in the months ahead as each tries to sort out its identities and priorities.
  • Editors’ PicksHow to Staycation in 6 American CitiesHow the Trump Era Has Strained, and Strengthened, Politically Mixed MarriagesWhere Cruise Ships Are Sent to DieAdvertisementContinue reading the main story
  • he questions facing partisans on both sides are sweeping, and remain largely unresolved despite more than a year of a tumultuous presidential campaign.
  • The party is headed toward a reckoning, whatever happens in November, because you still have large segments of the party establishment that are not at all reconciled with the president’s victory in 2016,” said Senator Josh Hawley, Republican of Missouri, who is frequently mentioned as a possible 2024 contender. “These people are still very powerful in the Republican Party, and I think we’ll have a real fight for the future.”
  • Representative Pramila Jayapal of Washington, a co-chair of the House Progressive Caucus and an ally of Senator Bernie Sanders, said those plans were the “floor, not the ceiling” of what the liberal wing of the party plans to demand should Mr. Biden win.
  • “Both sides have been content to make this election about a personality,” said Brad Todd, a Republican strategist and an author of a book about the conservative populist coalition that fueled Mr. Trump’s victory in 2016. “Therefore, we’ve not had a lot of light shown on the ideological realignment that’s occurred in the country.”
  • Texas may provide a preview of these debates. As Democrats continue to make gains in the state and as the coronavirus rages there, moderate Republicans have tried to steer the state closer to the center while conservatives have tried to push Texas further right.
  • Mr. Hawley argued that Republicans should embrace the populist energy of their voters by pursuing the breakup of big technology companies, voicing skepticism of free trade and making colleges more accountable for their high tuition costs.
  • Yet in an increasingly polarized country, that center may be shifting.
anonymous

Strong Job Growth, a Terrible Job Market: The Bizarre 2020 Economy - The New York Times - 0 views

  • he Bizarre 2020 Economy
  • 17 months for employment to return to full health.
  • hree concepts: the level at which the economy is functioning, how fast it is improving, and whether that speed is accelerating or decelerating.
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  • Editors’ PicksJim Carrey Plays Joe Biden in ‘S.N.L.’ Season PremiereHow to Have a Disagreement Like an Adult, According to Deepak Chopra30 Years After Reunification, Old German-German Border Is a Green OasisAdvertisementContinue reading the main story
  • The level of the bath water is very low. But it’s being filled rapidly. However, the spigot is being tightened so the pace at which the water is rising has slowed.
  • Disney’s plan to cut 28,000 theme park workers. Major airlines are poised to cut tens of thousands of jobs after the expiration of a provision requiring them to keep workers on their payrolls as a condition of bailout money.
  • The incumbent party points to whatever looks good in the data as proof that its policies are working, and the challenger identifies flaws that remain.
  • We may not know the answers to those questions, but it matters a lot for understanding what kind of economy either a second-term President Trump or President Joe Biden will have to handle. For now it’s not looking good.
Javier E

Of Luck and Success - Economic View - NYTimes.com - 0 views

  • THERE may be no topic that more reliably divides liberals and conservatives than the relationship between success and luck.
  • Conservatives, for example, understandably fret that encouraging people to view life as a lottery might encourage them just to sit back and hope for the best. Liberals, for their part, worry that encouraging people to claim an unrealistically large share of the credit for their own success might make them more reluctant to aid the less fortunate.
  • Their work focuses on online markets, but it has much broader implications. It suggests that although market success does depend on the quality of a product, the link is extremely variable and uncertain. Even the best contestant in a product category may fail, and even the worst one sometimes wins. And for an overwhelming majority of contestants in the intermediate-quality range, they found success to be largely a matter of chance.
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  • recent experiments suggest that chance events may influence market outcomes far more heavily than previously thought.
  • The most striking finding was that if a few early listeners disliked a song, that usually spelled its doom. But if a few early listeners happened to like the same song, it often went on to succeed.
  •  it’s often hard to find information about the quality of a particular product, so we rely on the reactions of friends and acquaintances who’ve already tried it. Any random differences in the early feedback we receive tend to be amplified as we share our reactions with others. Early success — even if unearned — breeds further success, and early failure breeds further failure. The upshot is that the fate of products in general — but especially of those in the intermediate-quality range — often entails an enormous element of luck.
  • the sociologists’ research helps us understand why many people who have those qualities never find much success in the marketplace. Chance elements in the information flows that promote that success are sometimes the most important random factors of all.
Javier E

Facebook's problem isn't Trump - it's the algorithm - Popular Information - 0 views

  • Facebook is in the business of making money. And it's very good at it. In the first three months of 2021, Facebook raked in over $11 billion in profits, almost entirely from displaying targeted advertising to its billions of users. 
  • In order to keep the money flowing, Facebook also needs to moderate content. When people use Facebook to livestream a murder, incite a genocide, or plan a white supremacist rally, it is not a good look.
  • But content moderation is a tricky business. This is especially true on Facebook where billions of pieces of content are posted every day. In a lot of cases, it is difficult to determine what content is truly harmful. No matter what you do, someone is unhappy. And it's a distraction from Facebook's core business of selling ads.
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  • In 2019, Facebook came up with a solution to offload the most difficult content moderation decisions. The company created the "Oversight Board," a quasi-judicial body that Facebook claims is independent. The Board, stocked with impressive thinkers from around the world, would issue "rulings" about whether certain Facebook content moderation decisions were correct.
  • the decision, which is nearly 12,000 words long, illustrates that whether Trump is ultimately allowed to return to Facebook is of limited significance. The more important questions are about the nature of the algorithm that gives people with views like Trump such a powerful voice on Facebook. 
  • The Oversight Board was Facebook's idea. It spent years constructing the organization, selected its chairs, and funded its endowment. But now that the Oversight Board is finally up and running and taking on high-profile cases, Facebook is choosing to ignore questions that the Oversight Board believes are essential to doing its job.
  • This is a key passage (emphasis added): 
  • duces no original reporting. But, on Facebook in April, The Daily Wire received more than double the distribution of the Washington Post and the New York Times combined:
  • A critical issue, as the Oversight Board suggests, is not simply Trump's posts but how those kinds of posts are amplified by Facebook's algorithms. Equally important is how Facebook's algorithms amplify false, paranoid, violent, right-wing content from people other than Trump — including those that follow Trump on Facebook.
  • The jurisdiction of the Oversight Board excludes both the algorithm and Facebook's business practices.
  • Facebook stated to the Board that it considered Mr. Trump’s “repeated use of Facebook and other platforms to undermine confidence in the integrity of the election (necessitating repeated application by Facebook of authoritative labels correcting the misinformation) represented an extraordinary abuse of the platform.” The Board sought clarification from Facebook about the extent to which the platform’s design decisions, including algorithms, policies, procedures and technical features, amplified Mr. Trump’s posts after the election and whether Facebook had conducted any internal analysis of whether such design decisions may have contributed to the events of January 6. Facebook declined to answer these questions. This makes it difficult for the Board to assess whether less severe measures, taken earlier, may have been sufficient to protect the rights of others.
  • Donald Trump's Facebook page is a symptom, not the cause, of the problem. Its algorithm favors low-quality, far-right content. Trump is just one of many beneficiaries.
  • NewsWhip is a social media analytics service which tracks which websites get the most engagement on Facebook. It just released its analysis for April and it shows low-quality right-wing aggregation sites dominate major news organizations.
  • The Oversight Board has no power to compel Facebook to answer. It's an important reminder that, for all the pomp and circumstance, the Oversight Board is not a court. The scope of its authority is limited by Facebook executives' willingness to play along. 
  • This actually understates how much better The Daily Wire's content performs on Facebook than the Washington Post and the New York Times. The Daily Wire published just 1,385 pieces of content in April compared to over 6,000 by the Washington Post and the New York Times. Each piece of content The Daily Wire published in April received 54,084 engagements on Facebook, compared to 2,943 for the New York Times and 1,973 for the Washington Post. 
  • It's important to note here that Facebook's algorithm is not reflecting reality — it's creating a reality that doesn't exist anywhere else. In the rest of the world, Western Journal is not more popular than the New York Times, NBC News, the BBC, and the Washington Post. That's only true on Facebook.
  • Facebook has made a conscious decision to surface low-quality content and recognizes its dangers.
  • Shortly after the November election, Facebook temporarily tweaked its algorithm to emphasize "'news ecosystem quality' scores, or N.E.Q., a secret internal ranking it assigns to news publishers based on signals about the quality of their journalism." The purpose was to attempt to cut down on election misinformation being spread on the platform by Trump and his allies. The result was "a spike in visibility for big, mainstream publishers like CNN, The New York Times and NPR, while posts from highly engaged hyperpartisan pages, such as Breitbart and Occupy Democrats, became less visible." 
  • BuzzFeed reported that some Facebook staff members wanted to make the change permanent. But that suggestion was opposed by Joel Kaplan, a top Facebook executive and Republican operative who frequently intervenes on behalf of right-wing publishers. The algorithm change was quickly rolled back.
  • Other proposed changes to the Facebook algorithm over the years have been rejected or altered because of their potential negative impact on right-wing sites like The Daily Wire. 
edencottone

Ron Johnson says he didn't feel threatened Jan. 6. If BLM or Antifa stormed Capitol, he... - 0 views

  • In an interview on conservative talk radio, Sen. Ron Johnson, one of former President Donald Trump’s strongest supporters, said he didn’t feel threatened by rioters violently storming the Capitol. Instead, he said, he might have been scared if the participants were Black Lives Matter or Antifa supporters — a comment with strong racial overtones.
  • I knew those were people that love this country, that truly respect law enforcement, would never do anything to break the law, and so I wasn't concerned,”
  • "Now, had the tables been turned — Joe, this could get me in trouble — had the tables been turned, and President Trump won the election and those were tens of thousands of Black Lives Matter and Antifa protesters, I might have been a little concerned," Johnson said.
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  • The insurrection left several people dead and hundreds of people have been charged in connection to the events of Jan. 6.
  • "We’ve moved from just plain old fringe, extremist rants to fringe extremist and racist rants," Pocan said.
  • FBI Director Christopher Wray said at a Senate Judiciary Committee hearing that there is "no evidence" Antifa had any role in the insurrection. MOST READ IRS partially shields some stimulus payments from debt reductions MAGA voters discovered a new home online. But it isn't what it seems. Newsom says California recall likely to qualify, tries to soften Feinstein stance McCarthy decries ‘political stunt’ after troops visit lawmaker’s office An unlikely Trump turncoat shows the GOP way to resist his influence
  • Johnson also has pushed the conspiracy theory that outside provocateurs were part of the riots, a claim Trump backers have often made.
edencottone

Trump was supposed to be a political Godzilla in exile. Instead, he's adrift. - POLITICO - 0 views

  • He backed away from creating a third party and has soured on the costly prospect of launching his own TV empire or social media startup.
  • And though he was supposed to build a massive political apparatus to keep his MAGA movement afloat, it’s unclear to Republicans what his PAC is actually doing, beyond entangling itself in disputes with Republican icons and the party’s fundraising arms.
  • Ex-president Donald Trump finds himself adrift while in political exile. And Republicans, and even some allies, say he is disorganized, torn between playing the role of antagonist and party leader.
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  • It’s like political phantom limbs. He doesn't have the same political infrastructure he did three months ago as president,” added GOP strategist Matt Gorman, who previously served as communications director for the National Republican Congressional Committee.
  • Instead, Trump has maintained close ties to GOP officials who have committed to supporting incumbents, stayed almost entirely out of the spotlight, delivered fairly anodyne remarks the one time he emerged, and offered only sparse criticism of his successor, Joe Biden.
  • Trump has gone from threatening party bodies for using his name and likeness in their fundraising efforts to offering up his Mar-a-Lago estate as a host site for part of the Republican National Committee’s spring donor retreat. He savagely attacked veteran GOP operative Karl Rove for criticizing his first post-presidency speech at the annual Conservative Political Action Committee, and endorsed Sen. Jerry Moran (R-Kan.), who repeatedly scrutinized Trump’s own trade practices while in office.
  • In his role as chairman of the National Republican Senatorial Committee, Scott has promised to stick by GOP incumbents — including Alaska Sen. Lisa Murkowski, who voted to convict Trump in his Senate trial last month on charges of inciting an insurrection. The Florida Republican said he had a “great meeting” with Trump in a tweet he shared Friday.
  • “For any normal politician, it would look like he’s trying to have it both ways but really he’s trying to have it his way,” said a former Trump White House official. “He only cares about maintaining his power and his stranglehold over the Republican Party and it doesn’t matter to him how any of the moves he makes affect the long-term success of institutions or individuals other than himself.”
  • He continues to hold court on the patio of his Mar-a-Lago resort where he is greeted by a standing ovation from members when he and the former first lady walk by. He spends his days monitoring the news, making calls and playing golf at his eponymous club just a few miles away.
  • But the factions that have already formed among those surrounding him suggest potential turbulence ahead. Three veterans of Trump’s 2020 campaign — Brad Parscale, Bill Stepien and Justin Clark — have been screening primary recruitments and brainstorming ways to reestablish his online presence, while Dave Bossie and Corey Lewandowski are in talks with the ex-president to launch a new fundraising entity on his behalf, according to people briefed on the recent discussions.
  • One former administration official who has been in contact with Trump described him as a “pinball,” noting that his tendency to abruptly change directions or seize on a new idea after speaking with a friend or outside adviser — a habit that often frustrated aides during his time in office — has carried into his post-presidency life.
  • The fear among Republicans is that Trump’s indecisiveness will extend to his personal political future as well. Trump has continued to dangle a 2024 run over the party, and the will-he-won’t-he guessing game has held presidential hopefuls in limbo. MOST READ IRS partially shields some stimulus payments from debt reductions MAGA voters discovered a new home online. But it isn't what it seems. Newsom says California recall likely to qualify, tries to soften Feinstein stance McCarthy decries ‘political stunt’ after troops visit lawmaker’s office An unlikely Trump turncoat shows the GOP way to resist his influence
  • But stripped of a social media platform like Twitter, the former president has had to rely on issuing statements — some mimicking the tone and length of his past tweets — via his post-presidency office or political PAC press lists. So far, he’s issued more than two dozen endorsements and statements since leaving the White House. The more recent ones have bashed Senate Minority Leader Mitch McConnell and sought credit for the current Covid-19 vaccine distribution.
  • When I was talking to the president this morning… he’s like, ‘Yeah, she’s no good. I said that and now everybody’s seeing it. But you realize if you say anything negative about Meghan Markle you get canceled. Look at Piers,’” Miller said, recounting his conversation with Trump, who had been referring to Piers Morgan, the polarizing “Good Morning Britain” host who parted ways with the show this week after dismissing Markle’s revelations as lies.
  • But so far, many of his recent political maneuverings have been met with a shrug by the GOP. Trump’s public tussle with the Republican Party over fundraising and the use of his name and likeness in appeals for money appeared to fizzle out after attorneys for the Republican National Committee denied Trump’s cease-and-desist demands. By week’s end, the RNC was not only still using Trump’s name in fundraising solicitations, it was offering him up as an enticement.
Javier E

Opinion | 'We're No. 28! And Dropping!' - The New York Times - 1 views

  • The newest Social Progress Index, shared with me before its official release Thursday morning, finds that out of 163 countries assessed worldwide, the United States, Brazil and Hungary are the only ones in which people are worse off than when the index began in 2011. And the declines in Brazil and Hungary were smaller than America’s.
  • The index, inspired by research of Nobel-winning economists, collects 50 metrics of well-being — nutrition, safety, freedom, the environment, health, education and more — to measure quality of life.
  • Norway comes out on top in the 2020 edition, followed by Denmark, Finland and New Zealand.
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  • South Sudan is at the bottom, with Chad, Central African Republic and Eritrea just behind.
  • The United States, despite its immense wealth, military power and cultural influence, ranks 28th — having slipped from 19th in 2011.
  • The index now puts the United States behind significantly poorer countries, including Estonia, Czech Republic, Cyprus and Greece
  • The United States ranks No. 1 in the world in quality of universities, but No. 91 in access to quality basic education
  • The U.S. leads the world in medical technology, yet we are No. 97 in access to quality health care.
  • The Social Progress Index finds that Americans have health statistics similar to those of people in Chile, Jordan and Albania,
  • “Societies that are inclusive, tolerant and better educated are better able to manage the pandemic,”
  • A majority of countries have lower homicide rates, and most other advanced countries have lower traffic fatality rates and better sanitation and internet access.
  • The United States has high levels of early marriage — most states still allow child marriage in some circumstances — and lags in sharing political power equally among all citizens
  • America ranks a shameful No. 100 in discrimination against minorities.
  • the coronavirus will affect health, longevity and education, with the impact particularly large in both the United States and Brazil.
  • kids in the United States get an education roughly on par with what children get in Uzbekistan and Mongolia
  • The decline of the United States over the last decade in this index — more than any country in the world — is a reminder that we Americans face structural problems that predate President Trump
  • Trump is a symptom of this larger malaise, and also a cause of its acceleration.
  • the share of Americans reporting in effect that every day is a bad mental health day has doubled over 25 years. “Rising distress and despair are largely American phenomenon not observed in other advanced countries,”
Javier E

How Boeing Favored Speed Over Quality for the 737 Max - The New York Times - 0 views

  • After the Max 8 crashes, Boeing and its regulators focused most on the cause of those accidents: flawed design and software. Yet some current and former employees say problems with manufacturing quality were also apparent to them at the time and should have been to executives and regulators as well.
  • Davin Fischer, a former mechanic in Renton, who also spoke to the Seattle TV station KIRO 7, said he noticed a cultural shift starting around 2017, when the company introduced the Max.
  • “They were trying to get the plane rate up and then just kept crunching, crunching and crunching to go faster, faster, faster,” he said.
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  • When the pandemic took hold in early 2020, air travel plummeted, and many aviation executives believed it would take years for passengers to return in large numbers. Boeing began to cut jobs and encouraged workers to take buyouts or retire early. It ultimately lost about 19,000 employees companywide — including some with decades of experience.
  • Current and former Boeing employees, most of whom spoke on the condition of anonymity because they were not authorized to speak to reporters and feared retaliation, offered examples of how quality has suffered over the years. Many said they still respected the company and its employees and wanted Boeing to succeed.
  • “For years, we prioritized the movement of the airplane through the factory over getting it done right, and that’s got to change,” Brian West, the company’s chief financial officer, said at an investor conference last week.
  • In late 2022, Boeing lost veteran engineers who retired to lock in bigger monthly pension payments, which were tied to interest rates, according to the union that represents them,
  • “We warned Boeing that it was going to lose a mountain of expertise, and we proposed some workarounds, but the company blew us off,” Ray Goforth, executive director of the union, said in a statement, adding that he thought the company used the retirements as an opportunity to cut costs by replacing veteran workers with “lower-paid entry-level engineers and technical workers.”
  • the International Association of Machinists and Aerospace Workers union, which represents more than 30,000 Boeing employees, said the average tenure of its members had dropped sharply in recent years. The proportion of its members who have less than six years of experience has roughly doubled to 50 percent from 25 percent before the pandemic.
Javier E

No Rich Child Left Behind - NYTimes.com - 0 views

  • In the 1980s, on an 800-point SAT-type test scale, the average difference in test scores between two such children would have been about 90 points; today it is 125 points. This is almost twice as large as the 70-point test score gap between white and black children. Family income is now a better predictor of children’s success in school than race.
  • e proportion of students from upper-income families who earn a ba
  • chelor’s degree has increased by 18 percentage points over a 20-year period, while the completion rate of poor students has grown by only 4 points.
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  • new research by the Harvard political scientist Robert D. Putnam and his colleagues shows that the rich-poor gaps in student participation in sports, extracurricular activities, volunteer work and church attendance have grown sharply as well.
  • average test scores on the National Assessment of Educational Progress, the so-called Nation’s Report Card, have been rising — substantially in math and very slowly in reading — since the 1970s.
  • The most potent development over the past three decades is that the test scores of children from high-income families have increased very rapidly.
  • the rich now outperform the middle class by as much as the middle class outperform the poor. Just as the incomes of the affluent have grown much more rapidly than those of the middle class over the last few decades, so, too, have most of the gains in educational success accrued to the children of the rich.
  • For the past few years, alongside other scholars, I have been digging into historical data to understand
  • It’s not just that the rich have more money than they used to, it’s that they are using it differently. This is where things get really interesting.
  • The widening income disparity in academic achievement is not a result of widening racial gaps in achievement, either. The achievement gaps between blacks and whites, and Hispanic and non-Hispanic whites have been narrowing slowly over the last two decade
  • schools don’t seem to produce much of the disparity in test scores between high- and low-income students.
  • That isn’t to say that there aren’t important differences in quality between schools serving low- and high-income students — there certainly are — but they appear to do less to reinforce the trends than conventional wisdom would have us believe.
  • The academic gap is widening because rich students are increasingly entering kindergarten much better prepared to succeed in school than middle-class students. This difference in preparation persists through elementary and high school.
  • one part of the explanation for this is rising income inequality
  • the incomes of the rich have grown faster over the last 30 years than the incomes of the middle class and the poor. Money helps families provide cognitively stimulating experiences for their young children because it provides more stable home environments, more time for parents to read to their children, access to higher-quality child care and preschool
  • The average 9-year-old today has math skills equal to those her parents had at age 11, a two-year improvement in a single generation. The gains are not as large in reading and they are not as large for older students, but there is no evidence that average test scores have declined over the last three decades for any age or economic group.
  • High-income families are increasingly focusing their resources — their money, time and knowledge of what it takes to be successful in school — on their children’s cognitive development and educational success. They are doing this because educational success is much more important than it used to be, even for the rich.
  • even though middle-class and poor families are also increasing the time and money they invest in their children, they are not doing so as quickly or as deeply as the rich.
  • from 1972 to 2006 high-income families increased the amount they spent on enrichment activities for their children by 150 percent, while the spending of low-income families grew by 57 percent over the same time period
  • the amount of time parents spend with their children has grown twice as fast since 1975 among college-educated parents as it has among less-educated parents.
  • much of our public conversation about education is focused on the wrong culprits: we blame failing schools and the behavior of the poor for trends that are really the result of deepening income inequality and the behavior of the rich.
  • not only are the children of the rich doing better in school than even the children of the middle class, but the changing economy means that school success is increasingly necessary to future economic success, a worrisome mutual reinforcement of trends that is making our society more socially and economically immobile.
  • the rapid growth in the rich-poor educational gap provides a ray of hope: if the relationship between family income and educational success can change this rapidly, then it is not an immutable, inevitable pattern. What changed once can change again. Policy choices matter more than we have recently been taught to think.
  • how can we move toward a society in which educational success is not so strongly linked to family background? Maybe we should take a lesson from the rich and invest much more heavily as a society in our children’s educational opportunities from the day they are born. Investments in early-childhood education pay very high societal dividends. That means investing in developing high-quality child care and preschool that is available to poor and middle-class children. It also means recruiting and training a cadre of skilled preschool teachers and child care providers.
  • improving the quality of our parenting and of our children’s earliest environments may be even more important. Let’s invest in parents so they can better invest in their children.
  • Fundamentally, it means rethinking our still-persistent notion that educational problems should be solved by schools alone.
Javier E

Stop climate change: Move to the city, start walking - Salon.com - 0 views

  • electric cars are currently a bit greener than gasoline cars — per mile. Driving one hundred miles in a Nissan Altima results in the emission of 90.5 pounds of greenhouse gases. Driving the same distance in an all-electric Nissan Leaf emits 63.6 pounds of greenhouse gases — a significant improvement. But while the Altima driver pays 14 cents a mile for fuel, the Leaf driver pays less than 3 cents per mile, and this difference, thanks to the law of supply and demand, causes the Leaf driver to drive more.
  • What do you expect when you put people in cars they feel good (or at least less guilty) about driving, which are also cheap to buy and run? Naturally, they drive them more. So much more, in fact, that they obliterate energy gains made by increased fuel efficiency.
  • The real problem with cars is not that they don’t get enough miles per gallon; it’s that they make it too easy for people to spread out, encouraging forms of development that are inherently wasteful and damaging … The critical energy drain in a typical American suburb is not the Hummer in the driveway; it’s everything else the Hummer makes possible — the oversized houses and irrigated yards, the network of new feeder roads and residential streets, the costly and inefficient outward expansion of the power grid, the duplicated stores and schools, the two-hour solo commutes.
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  • it turns out that the way we move largely determines the way we live.
  • gadgets cumulatively contribute only a fraction of what we save by living in a walkable neighborhood. It turns out that trading all of your incandescent lightbulbs for energy savers conserves as much carbon per year as living in a walkable neighborhood does each week.
  • “gizmo green”; the obsession with “sustainable” products that often have a statistically insignificant impact on the carbon footprint when compared to our location. And, as already suggested, our location’s greatest impact on our carbon footprint comes from how much it makes us drive.
  • study made it clear that, while every factor counts, none counts more than walkability. Specifically, it showed how, in drivable locations, transportation energy use consistently tops household energy use, in some cases by more than 2.4 to 1. As a result, the most green home (with Prius) in sprawl still loses out to the least green home in a walkable neighborhood.
  • because it’s better than nothing, LEED — like the Prius — is a get-out-of-jail-free card that allows us to avoid thinking more deeply about our larger footprint. For most organizations and agencies, it is enough. Unfortunately, as the transportation planner Dan Malouff puts it, “LEED architecture without good urban design is like cutting down the rainforest using hybrid-powered bulldozers.”
  • 10 to 20 units per acre is the density at which drivable suburbanism transitions into walkable urbanism.
  • “We are a destructive species, and if you love nature, stay away from it. The best means of protecting the environment is to
  • The average New Yorker consumes roughly one-third the electricity of the average Dallas resident, and ultimately generates less than one-third the greenhouse gases of the average American.
  • the American anti-urban ethos remained intact as everything else changed. The desire to be isolated in nature, adopted en masse, led to the quantities and qualities we now call “sprawl,” which somehow mostly manages to combine the traffic congestion of the city with the intellectual culture of the countryside.
  • New York consumes half the gasoline of Atlanta (326 versus 782 gallons per person per year). But Toronto cuts that number in half, as does Sydney — and most European cities use only half as much as those places. Cut Europe’s number in half, and you end up with Hong Kong
  • Paris is one place that has determined that its future depends on reducing its auto dependence. The city has recently decided to create 25 miles of dedicated busways, introduced 20,000 shared city bikes in 1,450 locations, and committed to removing 55,000 parking spaces from the city every year for the next 20 years. These changes sound pretty radical, but they are supported by 80 percent of the population.
  • increasing density from two units per acre to 20 units per acre resulted in about the same savings as the increase from 20 to 200.
  • New York is our densest big city and, not coincidentally, the one with the best transit service. All the other subway stations in America put together would not outnumber the 468 stops of the MTA. In terms of resource efficiency, it’s the best we’ve got.
  • most communities with these densities are also organized as traditional mixed-use, pedestrian-friendly neighborhoods, the sort of accommodating environment that entices people out of their cars. Everything above that is icing on the cake.
  • unless we hit a national crisis of unprecedented severity, it is hard to imagine any argument framed in the language of sustainability causing many people to modify their behavior. So what will?
  • The gold standard of quality-of-life rankings is the Mercer Survey, which carefully compares global cities in the 10 categories of political stability, economics, social quality, health and sanitation, education, public services, recreation, consumer goods, housing, and climate.
  • the top 10 cities always seem to include a bunch of places where they speak German (Vienna, Zurich, Dusseldorf, etc.), along with Vancouver, Auckland, and Sydney. These are all places with compact settlement patterns, good transit, and principally walkable neighborhoods. Indeed, there isn’t a single auto-oriented city in the top 50. The highest-rated American cities in 2010, which don’t appear until No. 31, are Honolulu, San Francisco, Boston, Chicago, Washington, New York, and Seattle.
  • Our cities, which are twice as efficient as our suburbs, burn twice the fuel of these European, Canadian, and Aussie/Kiwi places. Yet the quality of life in these foreign cities is deemed higher than ours by a long shot.
  • if we pollute so much because we are throwing away our time, money, and lives on the highway, then both problems would seem to share a single solution, and that solution is to make our cities more walkable. Doing so is not easy, but it can be done, it has been done,
Javier E

What Drives Success? - NYTimes.com - 0 views

  • It may be taboo to say it, but certain ethnic, religious and national-origin groups are doing strikingly better than Americans overall.
  • These facts don’t make some groups “better” than others, and material success cannot be equated with a well-lived life. But willful blindness to facts is never a good policy.
  • Comprehensive data published by the Russell Sage Foundation in 2013 showed that the children of Chinese, Korean and Vietnamese immigrants experienced exceptional upward mobility regardless of their parents’ socioeconomic or educational background.
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  • The most comforting explanation of these facts is that they are mere artifacts of class — rich parents passing on advantages to their children — or of immigrants arriving in this country with high skill and education levels. Important as these factors are, they explain only a small part of the picture.
  • Take New York City’s selective public high schools like Stuyvesant and Bronx Science, which are major Ivy League feeders. For the 2013 school year, Stuyvesant High School offered admission, based solely on a standardized entrance exam, to nine black students, 24 Hispanics, 177 whites and 620 Asians. Among the Asians of Chinese origin, many are the children of restaurant workers and other working-class immigrants.
  • Merely stating the fact that certain groups do better than others — as measured by income, test scores and so on — is enough to provoke a firestorm in America today, and even charges of racism.
  • The irony is that the facts actually debunk racial stereotypes.
  • Nigerians make up less than 1 percent of the black population in the United States, yet in 2013 nearly one-quarter of the black students at Harvard Business School were of Nigerian ancestry; over a fourth of Nigerian-Americans have a graduate or professional degree, as compared with only about 11 percent of whites.
  • By 1990, United States-born Cuban children — whose parents had arrived as exiles, many with practically nothing — were twice as likely as non-Hispanic whites to earn over $50,000 a year. All three Hispanic United States senators are Cuban-Americans.
  • Meanwhile, some Asian-American groups — Cambodian- and Hmong-Americans, for example — are among the poorest in the country, as are some predominantly white communities in central Appalachia.
  • MOST fundamentally, groups rise and fall over time.
  • while Asian-American kids overall had SAT scores 143 points above average in 2012 — including a 63-point edge over whites — a 2005 study of over 20,000 adolescents found that third-generation Asian-American students performed no better academically than white students.
  • The fact that groups rise and fall this way punctures the whole idea of “model minorities” or that groups succeed because of innate, biological differences. Rather, there are cultural forces at work.
  • the strikingly successful groups in America today share three traits that, together, propel success
  • The first is a superiority complex — a deep-seated belief in their exceptionality. The second appears to be the opposite — insecurity, a feeling that you or what you’ve done is not good enough. The third is impulse control.
  • research shows that some groups are instilling them more frequently than others, and that they are enjoying greater success.
  • Ironically, each element of the Triple Package violates a core tenet of contemporary American thinking.
  • it’s precisely this unstable combination that generates drive: a chip on the shoulder, a goading need to prove oneself. Add impulse control — the ability to resist temptation — and the result is people who systematically sacrifice present gratification in pursuit of future attainment.
  • We know that group superiority claims are specious and dangerous, yet every one of America’s most successful groups tells itself that it’s exceptional in a deep sense.
  • That insecurity should be a lever of success is another anathema in American culture. Feelings of inadequacy are cause for concern or even therapy; parents deliberately instilling insecurity in their children is almost unthinkable. Yet insecurity runs deep in every one of America’s rising groups; and consciously or unconsciously, they tend to instill it in their children.
  • Numerous studies, including in-depth field work conducted by the Harvard sociologist Vivian S. Louie, reveal Chinese immigrant parents frequently imposing exorbitant academic expectations on their children (“Why only a 99?”), making them feel that “family honor” depends on their success.
  • In a study of thousands of high school students, Asian-American students reported the lowest self-esteem of any racial group, even as they racked up the highest grades.
  • Moreover, being an outsider in a society — and America’s most successful groups are all outsiders in one way or another — is a source of insecurity in itself. Immigrants worry about whether they can survive in a strange land, often communicating a sense of life’s precariousness to their children.
  • Finally, impulse control runs against the grain of contemporary culture as well. Countless books and feel-good movies extol the virtue of living in the here and now, and people who control their impulses don’t live in the moment.
  • The dominant culture is fearful of spoiling children’s happiness with excessive restraints or demands. By contrast, every one of America’s most successful groups takes a very different view of childhood, inculcating habits of discipline from a very early age
  • Needless to say, high-achieving groups don’t instill these qualities in all their members. They don’t have to
  • At the same time, if members of a group learn not to trust the system, if they don’t think people like them can really make it, they will have little incentive to engage in impulse control.
  • success comes at a price. Each of the three traits has its own pathologies
  • Even when it functions relatively benignly as an engine of success, the combination of these three traits can still be imprisoning — precisely because of the kind of success it tends to promote. Individuals striving for material success can easily become too focused on prestige and money, too concerned with external measures of their own worth.
  • Only in combination do these qualities generate drive and what Tocqueville called the “longing to rise.”
  • It’s just much harder when you have to do it on your own, when you can’t draw on the cultural resources of a broader community, when you don’t have role models or peer pressure on your side, and instead are bombarded daily with negative images of your group in the media.
  • But it would be ridiculous to suggest that the lack of an effective group superiority complex was the cause of disproportionate African-American poverty. The true causes barely require repeating
  • Nor does the lack of a group superiority narrative prevent any given individual African-American from succeeding. It simply creates an additional psychological and cultural hurdle that America’s most successful groups don’t have to overcome.
  • Culture is never all-determining. Individuals can defy the most dominant culture and write their own scripts
  • The same factors that cause poverty — discrimination, prejudice, shrinking opportunity — can sap from a group the cultural forces that propel success. Once that happens, poverty becomes more entrenched.
  • Disappearing blue-collar jobs and greater returns to increasingly competitive higher education give a tremendous edge to groups that disproportionately produce individuals driven, especially at a young age, to excel and to sacrifice present satisfactions for long-term gains.
  • THE good news is that it’s not some magic gene generating these groups’ disproportionate success. Nor is it some 5,000-year-old “education culture” that only they have access to. Instead their success is significantly propelled by three simple qualities open to anyone.
  • The way to develop this package of qualities — not that it’s easy, or that everyone would want to — is through grit.
  • It requires turning the ability to work hard, to persevere and to overcome adversity into a source of personal superiority. This kind of superiority complex isn’t ethnically or religiously exclusive. It’s the pride a person takes in his own strength of will.
  • research shows that perseverance and motivation can be taught, especially to young children.
  • The United States itself was born a Triple Package nation, with an outsize belief in its own exceptionality, a goading desire to prove itself to aristocratic Europe (Thomas Jefferson sent a giant moose carcass to Paris to prove that America’s animals were bigger than Europe’s) and a Puritan inheritance of impulse control.
  • But prosperity and power had their predictable effect, eroding the insecurity and self-restraint that led to them. By 2000, all that remained was our superiority complex, which by itself is mere swagger, fueling a culture of entitlement and instant gratification.
  • the trials of recent years — the unwon wars, the financial collapse, the rise of China — have, perversely, had a beneficial effect: the return of insecurity.
Javier E

Editing Wikipedia Pages for Med School Credit - NYTimes.com - 0 views

  • Medical students at the University of California, San Francisco, will be able to get course credit for editing Wikipedia articles about diseases, part of an effort to improve the quality of medical articles in the online encyclopedia and help distribute the articles globally via cellphones.
  • Wikipedia editing will force students to think clearly and avoid jargon, he said. “We do a great job in helping them talk to doctors, but we don’t do as good a job in helping them speak to the public,” h
  • The students’ editing will be part of Wikiproject Medicine, which focuses contributors on the 100 or so most significant medical articles, including those on tuberculosis and syphilis, but especially on those important articles that need the most editing.
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  • These articles are submitted to a group from Translators Without Borders that produces medical articles for Wikipedias in languages spoken in countries that often lack high-quality medical information. Examples include an article in Javanese on dengue fever and one in Hindi on urinary tract infection. Creating these high-quality medical articles fits neatly with efforts by the Wikimedia Foundation to make deals with cellphone carriers to provide Wikipedia content free of data charges, especially in the developing world
  • “If we want to get high-quality information to all the world’s population, Wikipedia is not just a viable option, but the only viable option,” Dr. Azzam said.
Javier E

The Experience Economy - NYTimes.com - 0 views

  • until sometime around 1974, the American economy was able to experience awesome growth by harvesting low-hanging fruit. There was cheap land to be exploited. There was the tremendous increase in education levels during the postwar world. There were technological revolutions occasioned by the spread of electricity, plastics and the car.
  • But that low-hanging fruit is exhausted, Cowen continues, and since 1974, the United States has experienced slower growth, slower increases in median income, slower job creation, slower productivity gains, slower life-expectancy improvements and slower rates of technological change.
  • But his evidence can also be used to tell a related story. It could be that the nature of technological change isn’t causing the slowdown but a shift in values. It could be that in an industrial economy people develop a materialist mind-set and believe that improving their income is the same thing as improving their quality of life. But in an affluent information-driven world, people embrace the postmaterialist mind-set. They realize they can improve their quality of life without actually producing more wealth.
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  • He argues that our society, for the moment, has hit a technological plateau.
  • many of this era’s technological breakthroughs produce enormous happiness gains, but surprisingly little additional economic activity
  • Jared’s other priorities also produce high quality-of-life gains without huge material and productivity improvements.
  • For Sam, income and living standards were synonymous. But for Jared, wealth and living standards have diverged. He is more interested in the latter than the former. This means that Jared has some rich and meaningful experiences, but it has also led to problems. Every few months, new gizmos come out. Jared feels his life is getting better. Because he doesn’t fully grasp the increasingly important distinction between wealth and standard of living, he has the impression that he is also getting richer. As a result, he lives beyond his means. As Cowen notes, many of our recent difficulties stem from the fact that many Americans think they are richer than they are.
Javier E

Opinion | A Better Path to Universal Health Care - The New York Times - 0 views

  • Germany offers a health insurance model that, like Canada’s, results in far less spending than in the United States, while achieving universal, comprehensive coverage
  • this model, pioneered by Chancellor Otto von Bismarck in 1883, was the first social health insurance system in the world. It has since been copied across Europe and Asia, becoming far more common than the Canadian single-payer model.
  • Germans are required to have health insurance, but they can choose between more than 100 private nonprofit insurers called “sickness funds.” Workers and employers share the cost of insurance through payroll taxes, while the government finances coverage for children and the unemployed.
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  • Insurance plans are not tied to employers. Services are funded through progressive taxation, so access is based on need, not ability to pay, and financial contributions are based on wealth, not health.
  • Contributions to sickness funds are centrally pooled and then allocated to individual insurers using a per-beneficiary formula that factors in differences in health risks.
  • Editors’ PicksYou Know the Lorena Bobbitt
  • The United States has the foundation for this kind of system. Its Social Security and Medicare systems use taxation to pay for social insurance policies, and the health care exchanges created by the Affordable Care Act provide marketplaces for insurance policies.
  • In Germany, for example, insurers can charge only small out-of-pocket fees limited to 2 percent or less of household income annually
  • Compared with the mostly fee-for-service, single-payer arrangements in Canada or the Medicare system, enrolling Americans in managed care plans paid on a per-patient basis would offer greater incentives to increase efficiency, improve quality of care and promote coordination of care.
  • Under a German-style plan, states could still be given flexibility in regulating nonprofit insurers to reflect regional priorities, similar to the flexibility offered to states in managing Medicaid and the A.C.A. exchanges.
  • Germany, Austria, the Netherlands and other countries with similar systems vastly underspend the United States.
  • Americans may be concerned that lower spending reflects rationing of care, but research has consistently found that not to be the case
  • Administrative and governance costs in multipayer systems are higher than in single-payer systems — 5 percent of health spending in Germany compared with 3 percent in Canada.
  • While recent polls indicate that a majority of Americans support so-called Medicare for all, approval diminishes when the plan is explained or clarified.
  • Americans have long valued choice and competition in their health care. The German model offers both: Patients choose private insurers that compete for enrollees, in the process driving innovation and improving quality.
  • Advocates and policymakers should pick carefully among these paths, choosing one that strikes a balance between what is possible and what is ideal for the United States health system
  • While the single-payer model serves Canada well, transitioning the United States to a multipayer model like Germany’s would require a far smaller leap. And that might encourage Americans to finally make the jump
Javier E

Deepak Chopra has a prescription for what ails technology - The Washington Post - 0 views

  • He wakes at 5 a.m. to meditate and exercise. Then he spends an hour focused on “mindful technology,” including posting and interacting with people on social medi
  • “Even technology is a meditative experience because when I’m focused on technology that’s all I do,” he says.
  • A single tweet from President Trump can cause “mass inflammation,” he says. Yet that makes him no less optimistic about technology. He sees the Internet as a kind of “global brain” that can be rewired.
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  • More data is what he thinks we need. “Let’s do it wisely. Technology is neutral, number one. Number two, it's unstoppable,” he says
  • So we just have to accept more surveillance as the price of this new way of living? “For the advancement of your well-being, what's wrong with that?” he says.
  • But if we turn our homes and our bodies over to algorithms, how do we know they have our best interests at heart? “They have to be tested, and they have to go through peer review. They have to be scientifically validated as being useful in enhancing our well-being,” he says.
  • And tech companies will fail if they do not, Chopra says. “The businesses that will survive in the future are the businesses that improve the quality of life on our planet, the quality of the environment, the quality of our relationships and the quality of our social interactions,” he says.
delgadool

Is fast fashion giving way to the sustainable wardrobe? | Business | The Guardian - 0 views

  • Fashion shoppers spent about £3.5bn on Christmas party clothing this year – but 8 million of those sparkly items will be on their way to landfill after just one wear.
  • Now, however, some fashion experts believe the party could be coming to an end for such disposable clothing and a backlash could be brewing, just as it has against takeaway coffee cups, plastic packaging and meat. Overall, the fashion industry as a whole is contributing more to climate change than the aeronautical and shipping industries combined. If trends continue, the industry could account for a quarter of the world’s carbon budget by 2050.
  • In 2015, greenhouse gas emissions from textiles production globally totalled 1.2 billion tonnes of CO2 equivalent, according to a report by the industry-led Circular Fibres Initiative. This is more than the emissions of all international flights and maritime shipping combined.
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  • Mike Barry, director of sustainable business at Marks & Spencer, said: “The signals are [fashion is] on the same trajectory as plastics and forests and alternatives to meat. These were all underlying concerns that got through to the mainstream consumer.
  • The government-backed sustainable clothing action plan, whose signatories include Next, M&S, Ted Baker, Primark and Asos, has committed nine major retailers to reducing waste being sent to landfill, water use and carbon footprint by 15% by 2020.
  • “We have only got 12 years to tackle damaging climate change,” she says. “We as consumers have to ask questions of brands. Brands have to make it part of what they do. These are massive companies run by some of the world’s richest men. Someone is doing OK out of it.”
  • Creagh adds that cheap fashion comes with a social as well as an environmental cost – with low-paid workers overseas unable to provide for their families. “We are not saying to people on a low income you can’t buy cheap clothes. We are saying it is time that the cost should reflect the true cost of the minimum wage and decent working conditions and growing stuff without pesticides. It needs to be sustainable from top to bottom and we don’t think the true cost is a £5 dress. That price is not being paid by us, it is being paid by someone else and the environment.”
  • Environmental campaigners say people who want to be more sustainable should choose quality clothes and make them last as long as possible by learning to repair or rework them. Buying secondhand or vintage clothing, considering renting outfits rather than buying, and washing garments less often at lower temperatures in a full machine can all help.
  • Sumner says: “The more you process and play with them the worse they are and the quality reduces. “Recycled fibres through traditional routes are poor quality.”
  • "America is at a tipping point, finely balanced between truth and lies, hope and hate, civility and nastiness. Many vital aspects of American public life are in play – the Supreme Court, abortion rights, climate policy, wealth inequality, Big Tech and much more. The stakes could hardly be higher. As that choice nears, the Guardian, as it has done for 200 years, and with your continued support, will continue to argue for the values we hold dear – facts, science, diversity, equality and fairness." – US editor, John Mulholland
Javier E

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

  • 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.
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  • 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
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