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Javier E

The German Silence on Israel, and Its Cost - NYTimes.com - 0 views

opinionator.blogs.nytimes.com/...-germans-stay-silent-on-israel

israel germany holocaust enlightenment kant Habermas

shared by Javier E on 09 Mar 15 - No Cached
  • In his well-known essay from 1784 — “What Is Enlightenment?” — Kant defines enlightenment as “man’s emergence from his self-incurred immaturity,” a process of growing up that consists in finding the “courage” to think for oneself.
  • First, in order to think for oneself one must strive to transcend the perspective of one’s private commitments — personal, historical, professional, civic — and attempt to judge from the cosmopolitan “standpoint of everybody else.” Second, and closely related, is the idea that thinking for oneself is possible only by thinking aloud. We would not be able to think very “much” or all too “correctly,” Kant writes, if we would not think together “with others with whom we communicate.” Transcending our private perspective thus depends on submitting our opinions to the judgment of the “entire reading public” — striving to reach, through public debate, an agreement of “universal human reason in which each has his own say.”
  • Theodor Adorno, captured this notion in a 1959 lecture when he said that enlightenment consisted of resisting the use of the “disastrous word ‘as.’” We encounter that word, he explains, when “people say in the course of a discussion, ‘As a German, I cannot accept that …’ or ‘As a Christian, I must react in such-and-such a way.’”
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  • German intellectuals who do not speak are de facto endorsing several propositions that they should very much like to deny. For example, that their history as Germans commits them to the Jews — represented by the State of Israel — not to universal humanism. There is a sensible answer to this claim, which is that Germans are committed to both, and that there’s no contradiction. But one can endorse this healthy proposition in good faith only by condemning Israel’s international law and human rights violations, thus taking a position that supports both humanism’s ideals and the Jews.
  • By failing to speak out against Israel’s violations, Germany will not only fail to meet its own responsibilities; it will undermine the Holocaust as a politically significant past.
Javier E

The Legacy of Malcolm X - The Atlantic - 0 views

www.theatlantic.com/...308438

black pride racism role model culture history obama

shared by Javier E on 22 Feb 15 - No Cached
  • Gripping and inconsistent myths swirl about him. In one telling, Malcolm is a hate-filled bigot, who through religion came to see the kinship of all. In another he is the self-redeemer, a lowly pimp become an exemplar of black chivalry. In still another he is an avatar of collective revenge, a gangster whose greatest insight lay in changing not his ways, but his targets. The layers, the contradictions, the sheer profusion of Malcolm X’s public pronouncements have been a gift to seemingly every contemporary black artist and intellectual from Kanye to Cornel West.
  • For me, he embodied the notion of an individual made anew through his greater commitment to a broad black collective.
  • I thought back on the debate running from Martin Delany and Frederick Douglass through Martin Luther King and Malcolm X, and I knew a final verdict had been reached. Who could look on a black family that had won the votes, if not the hearts, of Virginia, Colorado, and North Carolina, waving to their country and bounding for the White House, and seriously claim, as Malcolm once did, that blacks were not American?
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  • As surely as 2008 was made possible by black people’s long fight to be publicly American, it was also made possible by those same Americans’ long fight to be publicly black. That latter fight belongs especially to one man, as does the sight of a first family bearing an African name. Barack Obama is the president. But it’s Malcolm X’s America.
  • Marable’s biography judiciously sifts fact from myth. Marable’s Malcolm is trapped in an unhappy marriage, cuckolded by his wife and one of his lieutenants. His indignation at Elijah Muhammad’s womanizing is fueled by his morals, and by his resentment that one of the women involved is an old flame. He can be impatient and petulant. And his behavior, in his last days, casts a shadow over his reputation as an ascetic. He is at times anti-Semitic, sexist, and, without the structure of the Nation, inefficient.
  • Marable reveals Malcolm to be, in many ways, an awkward fit for the Nation of Islam. Elijah Muhammad’s Nation combined the black separatism of Marcus Garvey with Booker T. Washington’s disdain for protest. In practice, its members were conservative, stressing moral reform, individual uplift, and entrepreneurship. Malcolm was equally devoted to reform, but he believed that true reform ultimately had radical implications.
  • His energy left him with a sprawling web of ties, ranging from the deeply personal (Louis Farrakhan) to the deeply cynical (George Lincoln Rockwell). He allied with A. Philip Randolph and Fannie Lou Hamer, romanced the Saudi royal family, and effectively transformed himself into black America’s ambassador to the developing world.
  • To Marable’s credit, he does not judge Malcolm’s significance by his seeming failure to forge a coherent philosophy. As Malcolm traveled to Africa and the Middle East, as he debated at Oxford and Harvard, he encountered a torrent of new ideas, new ways of thinking that batted him back and forth. He never fully gave up his cynical take on white Americans, but he did broaden his views, endorsing interracial marriage and ruing the personal coldness he’d shown toward whites. Yet Malcolm’s political vision was never complete like that of Martin Luther King, who hewed faithfully to his central principle, the one he is known for today—his commitment to nonviolence.
  • For all of Malcolm’s prodigious intellect, he was ultimately more an expression of black America’s heart than of its brain.
  • The fact and wisdom of nonviolence may be beyond dispute—the civil-rights movement profoundly transformed the country. Yet the movement demanded of African Americans a superhuman capacity for forgiveness. Dick Gregory summed up the dilemma well. “I committed to nonviolence,” Marable quotes him as saying. “But I’m sort of embarrassed by it.”
  • Like Malcolm, Obama was a wanderer who found himself in the politics of the black community, who was rooted in a nationalist church that he ultimately outgrew. Like Malcolm’s, his speeches to black audiences are filled with exhortations to self-creation, and draw deeply from his own biography
  • perhaps most significantly, it rejected the beauty standard of others and erected a new one. In a 1962 rally, Malcolm said: Who taught you to hate the texture of your hair? Who taught you to hate the color of your skin? Who taught you to hate the shape of your nose and the shape of your lips? Who taught you to hate yourself from the top of your head to the soles of your feet? Who taught you to hate your own kind?
  • Virtually all of black America has been, in some shape or form, touched by that rebirth. Before Malcolm X, the very handle we now embrace—black—was an insult. We were coloreds or Negroes, and to call someone “black” was to invite a fistfight. But Malcolm remade the menace inherent in that name into something mystical—Black Power; Black Is Beautiful; It’s a black thing, you wouldn’t understand.
  • For all of Malcolm’s invective, his most seductive notion was that of collective self-creation: the idea that black people could, through force of will, remake themselves
  • Marable details how Malcolm was, by the end of his life, perhaps evolving away from his hyper-moral persona. He drinks a rum and Coke and allows himself a second meal a day. Marable suspects he carried out an affair or two, one with an 18-year-old convert to the Nation. But in the public mind, Malcolm rebirthed himself as a paragon of righteousness, and even in Marable’s retelling he is obsessed with the pursuit of self-creation. That pursuit ended when Malcolm was killed by the very Muslims from whom he once demanded fealty.
  • Some of its most prominent public faces—Michael Jackson, Mike Tyson, Al Sharpton, Jesse Jackson, O. J. Simpson—have in varying degrees proved themselves all too human. Against that backdrop, there is Malcolm. Tall, gaunt, and handsome, clear and direct, Malcolm was who you wanted your son to be. Malcolm was, as Joe Biden would say, clean, and he took it as his solemn, unspoken duty never to embarrass you.
  • It’s his abiding advocacy for blackness, not as a reason for failure, but as a mandate for personal, and ultimately collective, improvement that makes him compelling. Always lurking among Malcolm’s condemnations of white racism was a subtler, and more inspiring, notion—“You’re better than you think you are,” he seemed to say to us. “Now act like it.”
  • Ossie Davis famously eulogized Malcolm X as “our living, black manhood” and “our own black shining prince.” Only one man today could bear those twin honorifics: Barack Obama
  • But the enduring appeal of Malcolm’s message, the portion that reaches out from the Audubon Ballroom to the South Lawn, asserts the right of a people to protect and improve themselves by their own hand. In Malcolm’s time, that message rejected the surrender of the right to secure your own body.
  • What animated Malcolm’s rage was that for all his intellect, and all his ability, and all his reinventions, as a black man in America, he found his ambitions ultimately capped. The right of self-creation had its limits then. But not anymore. Obama became a lawyer, and created himself as president, out of a single-parent home and illicit drug use.
Javier E

Princeton Agrees to Consider Removing a President's Name - The New York Times - 0 views

www.nytimes.com/...emoving-a-presidents-name.html

wilson racism

shared by Javier E on 20 Nov 15 - No Cached
  • Christopher L. Eisgruber, the university’s president, told students Wednesday that he agreed that Wilson had been a racist but that he had done some things that were honorable and others that were worthy of scorn.
  • The document signed by students and administrators was published on the Princeton University website late Thursday. It contained no firm commitment to removing Wilson’s name from campus. Instead, it committed administrators to writing an email to the chairwoman of the university board of trustees “to initiate conversations concerning the present legacy” of the former president on campus.
  • The document held administrators to a series of spoken statements they had “verbalized” during the sit-in and committed them to write emails “to initiate the process to consider removal” of a mural of Wilson from a cafeteria in a residential college named after him. Administrators also said they would “collect information on the campus community’s opinion” on whether the Woodrow Wilson School of Public and International Affairs, a prestigious public policy school, should continue to bear his name.
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  • Esther Maddox, a junior who participated in the sit-in, said it was “a long, exhausting and really trying experience.” She said she felt that “what we are doing is creating a campus environment that will eventually allow people like me to feel more comfortable on this campus.”
Javier E

In modern mating, sex isn't the only thing that's cheap - The Washington Post - 0 views

www.washingtonpost.com/...7-850e-2bdd1236be5d_story.html

sexual sexual ethics matchmaking couples culture

shared by Javier E on 06 Oct 17 - No Cached
  • Regnerus relies on the concept of sexual economics, in which mating is seen as a marketplace. In this view, women are gatekeepers to a limited, highly desired product: sex. In exchange for access to this product, men proffer commitment, fidelity and resources.
  • Regnerus believes that the sharp drop in the value of sex has shifted the market, even its more conservative parts, leading to a massive overall slowdown in the creation of committed relationships like marriage, in large part because men see less of a need to make themselves into appealing long-term partners.
  • among younger women, especially those who want that sort of traditional relationship, there increasingly seems to be a vague dissatisfaction with the state of things. Why, when women have gained so much power, are we so often at impasse in our romantic relationships? Why do men our age seem so unmotivated to grow up and so ambivalent about committing? As uncomfortable as it may be to contemplate, the shifts this book describes may provide an inkling of an explanation.
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  • When it comes to commonly held modern ideals — of gender egalitarianism, individualism, the assumption that men might seek to improve themselves even without outside prodding — his response is skepticism bordering on exasperation. “In the domain of sex and relationships, men will act as nobly as women collectively demand,” he writes. “This is an aggravating statement for women to read, no doubt. They do not want to be responsible for ‘raising’ men. But it is realistic.”
  • Throughout his book, Regnerus prods the reader to be skeptical of utopianism and see the world as it is. It’s a useful, if unpleasant, reminder for an era in which our goals seem both loftier and further out of reach than ever
Javier E

Trump Isn't Merely Tolerating Torture - He's Celebrating It - 0 views

nymag.com/...orture-hes-celebrating-it.html

shared by Javier E on 06 Apr 18 - No Cached
  • When you consider the plain meaning of the law, and the actions Haspel engaged in, it is impossible to conclude anything but that Haspel committed war crimes of the gravest kind and then helped destroy the evidence of them. There is no defense under the law in which a war criminal can claim that he or she was merely following orders.
  • There are equally no extenuating circumstances that can ever justify torture, according to the U.N. Convention signed by Ronald Reagan no less, in 1984: “No exceptional circumstances whatsoever, whether a state of war or a threat of war, internal political instability or any other public emergency, may be invoked as a justification of torture.”
  • Nor is it possible for any human being to read what was done to these prisoners without concluding that this was torture. If an American were captured by ISIS, was waterboarded 83 times, hung from the ceiling by his wrists, locked into a tiny box for days, and turned into a shell of a human being, would any American deny that he was tortured? The question answers itself.
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  • to actually reward someone who has committed war crimes with promotion, and then to elevate her to the highest position in Western intelligence, is a whole new level of depravity. It sends a very clear message: that anyone committing war crimes in the future will be celebrated, not disciplined, rewarded, not punished, that torture is justifiable, even worth reviving, as our future secretary of State, Mike Pompeo, opined only last year.
  • It would amount to a full-on endorsement of torture by the United States, and a signal to the entire world that it can be justified.
  • This is a profound threat to human rights globally and to the long tradition of American warfare, initiated by George Washington no less, in which the use of torture has always been regarded as exactly the kind of barbarism America was founded to overcome. It would be the final nail in the coffin that used to be the West.
  • If this line of defense falls, we are truly lost in a vortex of self-perpetuating evil. We will have abolished something deep and essential in the soul of America.
Javier E

Did Robert E. Lee Commit Treason? - 0 views

www.weeklystandard.com/...the-trial-that-didnt-happen

civil war history treason

shared by Javier E on 18 Apr 18 - No Cached
  • One has to say, purely on the merits, that Lee did indeed commit treason, if levying war against the United States and giving aid and comfort to its enemies are to have any meaning.
  • But treason de facto does not always become treason de jure. The distance between the two can be measured by Lee’s own carefully honed distinction: Until the Civil War settled matters, there was a plausible vagueness in the Constitution about the loyalty owed by citizens of states and the Union. So long as it could be argued that Lee was functioning within the latitude of that vagueness, it would be extraordinarily difficult to persuade a civilian jury that he had committed treason de jure.
Javier E

First Take on the Speech - Talking Points Memo - 1 views

talkingpointsmemo.com/...first-take-on-the-speech

speech trump policy immigration

shared by Javier E on 31 Jan 18 - No Cached
  • Immigration, unsurprisingly, was the pivot point. As Trump has done for more than two years, he calls on us to see undocumented immigrants through the prism of horrifying and vicious murders. This is nothing but the most elemental kind of incitement. If you did the same – and you could – with any racial or ideological or regional identity the horror of this would be clear. But we treat it as normal now.
  • The rest of the speech was in this thematic path, aggressive ethno-nationalism. It wasn’t more or less outrageous than the things the President says all the time. It just stacked them together
  • It’s important to restate the facts. Out of more than 10 million undocumented immigrants in the country, of course there are some who commit crimes and even horrific crimes. The same would be the case for any other ten million people, certainly for any group that is disproportionately young. But every study shows that immigrants, both documented and undocumented, commit crimes at a low rate than the native born. This is pure incitement. We can’t lose sight of that.
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  • . The key theme is the extreme valorization of soldiers, police officers and immigration patrol officers as the central element of patriotism. Each of these are merited as part of a range of beliefs and values and commitments that make us American. Trump makes them central and almost sacral in a way that is at war with elemental American traditions, though we would be naive and dishonest to say his reactionary posture doesn’t also have deep roots in our history. We must remember both realities.
Javier E

AOC Isn't Interested in American Exceptionalism - The Atlantic - 0 views

www.theatlantic.com/...592213

exceptionalism American idea white supremacy barbarism authoritarian

shared by Javier E on 23 Jun 19 - No Cached
  • American exceptionalism does not merely connote cultural and political uniqueness. It connotes moral superiority
  • Embedded in exceptionalist discourse is the belief that, because America has a special devotion to democracy and freedom, its sins are mostly incidental. The greatest evils humankind has witnessed, in places such as the Nazi death camps, are far removed from anything Americans would ever do
  • America’s adversaries commit crimes; America merely stumbles on its way to doing the right thing. This distinction means that, in mainstream political discourse, the ugliest terms—fascism, dictatorship, tyranny, terrorism, imperialism, genocide—are generally reserved for phenomena beyond America’s shores.
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  • when the anti-war and other protest movements of the 1960s faded, so did their challenge to exceptionalist language. By the 1980s, Democrats were playing catch-up to Ronald Reagan’s flag-waving patriotism
  • During the Barack Obama years, questioning American exceptionalism was considered a career-imperiling transgression. When Republicans questioned his commitment to the creed, Obama in 2014 replied, “I believe in American exceptionalism with every fiber of my being.”
  • a resurgent left fueled by an influx of Millennial voters has launched a new challenge to exceptionalist discourse
  • Partly, it’s because a higher percentage of Millennials are people of color, who generally look more skeptically on America’s claims of moral innocence
  • Partly, it’s because the financial crisis has cast doubt on whether America’s economic model is preferable to those practiced in other nations. Younger Americans—a majority of whom embrace “socialism”—believe it’s not
  • Most of all, the challenge to exceptionalism is a response to Trump.
  • . A 2017 Pew Research Center survey found that Americans over the age of 65 were 37 points more likely to say the “U.S. stands above all other countries in the world” than that “there are other countries that are better than the U.S.”
  • Americans under 30 split in the opposite direction. By a margin of 16 points, they said some other countries were better.
  • While conservatives affirm America’s superiority by a margin of almost 10 to one, liberals reject it by more than two to one.
  • A few years ago, commentators rarely evoked the specter of American “authoritarianism.” Now it’s commonplace
  • With his embrace of foreign authoritarians and his cultivation of conservatism’s xenophobic and racist fringes, Trump has become a galvanizing figure for the left, which for the first time since the 1960s has begun regularly evoking the specter of American “fascism.
  • Fascism didn’t seem like an American problem. That’s no longer the case. Leftist street activists now embrace the term antifa, and the movement has grown dramatically under Trump.
  • they’re also reinterpreting the American past. New scholarship has, for instance, muddied the distinction between German Nazism and early-20th-century American white supremacy.
  • Adam Serwer excavated the work of World War I–era racial theorists such as Madison Grant to show that the “seed of Nazism’s ultimate objective—the preservation of a pure white race, uncontaminated by foreign blood—was in fact sown with striking success in the United States.”
  • This willingness to equate American white supremacy with the barbarism that occurs in other countries has also shaped the way the left describes terrorism.
  • Now it’s become common, not only among leftist commentators but among Democratic politicians, to apply the term to violence committed by native-born white Americans.
  • When remembering the detention of Japanese Americans during World War II, Americans have generally employed the term internment camps—largely, the historian Roger Daniels has argued, to create a clear separation between America’s misdeeds and those of its hated foes.
  • They are challenging not only the physical and legal barriers that Trump is erecting against immigrants entering the United States, but also the conceptual barriers that American exceptionalism erects against seeing the United States as a nation capable of evil
Javier E

How the Fed Should Fight Climate Change - The Atlantic - 0 views

www.theatlantic.com/...595084

climate change monetary federal reserve banking financial politics history

shared by Javier E on 02 Aug 19 - No Cached
  • Mark Carney, a former Goldman Sachs director who now leads the Bank of England, sounded a warning. Global warming, he said, could send the world economy spiraling into another 2008-like crisis
  • He called for central banks to act aggressively and immediately to reduce the risk of climate-related catastrophe
  • the U.S. Federal Reserve was the pivotal American institution in stopping a second Great Depression. Its actions were “historically unprecedented, spectacular in scale,” he writes, and widely understood by experts to be the “decisive innovation of the crisis.”
  • ...45 more annotations...
  • “If the world is to cope with climate change, policymakers will need to pull every lever at their disposal,” he writes. “Faced with this threat, to indulge in the idea that central banks, as key agencies of the state, can limit themselves to worrying about financial stability … is its own form of denial.”
  • In England, by contrast, Carney has convened 33 central banks to investigate how to “green the financial system.” According to Axios, every powerful central bank is working with him—except for Banco do Brasil and the Fed.
  • Mark Carney, the governor of the Bank of England, in 2015, in a speech which has subsequently received massive coverage—and he is a man, after all, absolutely of the global financial establishment—coined the idea of a climate Minsky moment. [Editor’s note: A Minsky moment is when an asset’s price suddenly collapses after a long period of growth.]
  • We would need [fossil-fuel assets] to be on the balance sheet of actors who were under huge pressure in a fire-sale situation and who couldn’t deal with a sudden revaluation. We would need an entire network of causation to be there, which is what produced the unique crisis of 2007 to 2008.
  • So imagine that we stay on our current path, and we’re headed toward 3 or 4 degrees’ [Celsius] temperature change. And then imagine some of the nonlinearities kick in, which the climate scientists tell us about, and we face a Fukushima-style event.
  • What happens next? You then get nervous democratic politicians—and not necessarily those who are known for their populism, but just nervous democratic politicians—suddenly deciding that we have to stop doing one or another part of our carbon-based economy. It has to stop, and it has to stop immediately. And then you get big shocks. Then you get sudden revaluations.
  • In other words, the success of the delaying tactics of the carbon lobby create a situation in which we’re then faced with the possibility of a sudden regulatory shock
  • “One-third of equity and fixed income assets issued in global financial markets can be classified as belonging to the natural resource and extraction sectors, as well as carbon-intensive power utilities, chemicals, construction, and industrial goods firms.”
  • Whether that will, in fact, ease the formation of majorities in Congress is another question. Because, after all, it does somehow have to get through the Senate, you know.
  • Germany is far, far more exposed. A huge slice of their economy is basically all about internal combustion engines, and so that number includes all of those stocks, for sure.
  • If we saw a huge shock to, say, European equity [exchange-traded funds], which were heavily in German automotive, that’s the sort of trigger that we might be looking at.
  • This is not simply a zero-sum game; this is a structural transformation that has many very attractive properties. There’s loads of excellent jobs that could be created in this kind of transition.There’s no reason why, even by conventional GDP-type metrics, it need even be associated with the kind of feel-bad factor of slow GDP growth. Then [you could] also link it to a revival of social democracy for the United States. From a progressive political point of view, that’s obviously extremely attractive.
  • there’s also a deeper view: that climate change is the situation within which all other politics will happen for the next several generations, at least.
  • ever since the 1990s that’s been the logjam on any serious American commitment.
  • When you look at a third of securities tied up in the carbon economy and the evidence for decoupling GDP growth from carbon emissions maybe not being as strong as we’d like, do you think the change that needs to happen is realistic?
  • Tooze: Realistic? No. I mean, depends what you mean by realism. The scale of the challenge requires a boldness of action for which there is no precedent. That’s the only good purpose that the war analogies serve
  • Meyer: In your piece, you write: “Those in the United States who call for a Green New Deal or a Green Marshall Plan are, if anything, understating the scale of what is needed.”
  • Do you think climate action needs to be larger than, say, the U.S. mobilization for World War II?
  • Tooze: Well, less large in absolute terms. Because even the U.S. was spending almost 40 percent of GDP on World War II. And if you’re the Soviet Union, you’re spending 55 to 60 percent in 1940. We don’t need to do anything like that. It needs to be much bigger than the New Deal, which in fiscal-policy terms was really quite trivial.
  • Crucially, what makes it totally unlike the war is that there’s no happy end. There’s no moment where you win and then everything goes back to the way it was before, but just better. That’s a misunderstanding
  • This isn’t crash dieting; this is a permanent change in lifestyle, and we need to love that and we need to live it and we need to own it and we need to reconcile ourselves to the fact that this is for us and for all subsequent generations of humans.
  • It isn’t just the oil and gas majors, because they wouldn’t get you to 30 percent. Exxon isn’t big enough to get you to that kind of percentage. It’s Exxon, and [the major automakers] Daimler and BMW, and the entire carbon-exposed complex.
  • all the really hard choices need to be made by people like China and India and Pakistan and Bangladesh and Indonesia
  • You don’t have that very much in Germany. There isn’t anyone in Germany saying, “Which bit of mid-20th-century history is this most like?,” mercifully. The one analogy that has popped up in Germany is reunification, which I actually think is quite a good one, because that’s still an ongoing problem
  • in the American case, it would be civil rights and Reconstruction, which isn’t a particularly optimistic comparison to draw. It’s an ongoing problem, it’s a deep historic problem, it only happened once, we still haven’t fixed it, and we’re not at peace.
  • Meyer: There’s a kind of shallow view of climate change: that it is something we need to avert or stop. And that’s somewhat true
  • furthermore—and much more fundamentally than any of those things—this isn’t really about America. I mean, America can be an obstacle and get in the way, but none of the really hard choices needs to be made by Americ
  • like Reconstruction or the civil-rights movement, it needs to be something that people take on like a moral commitment, in the same way they take on genocide prevention as a moral commitment
  • problems that we thought we’d fixed, like the Green Revolution and the feeding of the world population, for instance—totally not obvious that those fixes cope with the next 20 years of what’s ahead of us. The food problem that was such an oppressive issue globally in the 1970s may resurge in an absolutely dramatic way.
  • Meyer: Given all that, if Jerome Powell decided that he wanted to intervene on the side of climate action, what could he do? What could the Fed do?
  • Tooze: What I think the Fed should announce is that it enthusiastically supports the idea of a bipartisan infrastructure push focused on the American electrical network, first and foremost, so that we can actually hook up the renewable-generating capacity—which is now eminently, you know, realistic in economic terms. Setting a backstop to a a fiscal-side-led investment push is the obvious thing.
  • It is indeed a highly appropriate response to an environment of extremely low interest rates, and [former Treasury Secretary] Larry Summers & Co. would argue that it might help, as it were, to suck us out of the state of secular stagnation that we’re in.
  • another avenue to go down—for the Fed to take a role in helping develop a classification of green bonds, of green financing, with a view also to rolling out comprehensive demands for disclosure on the part of American firms, for climate risks to be fully declared on balance sheets, and for due recognition to be given to firms that are in the business of proactively preparing themselves for decarbonization.
  • You could, for instance, declare that the Fed views with disfavor the role of several large American banks in continuing to fund coal investment. Some of the carbon-tracking NGOs have done very good work showing and exposing the way in which some of the largest, the most reputable American banks are still in the business of lending to Big Coal. Banking regulation could be tweaked in a way that would produce a tilt against that.
  • the classic role of the Fed is to support government-issued debt. Insofar as the Green New Deal is a government-issued business, the Fed has just an absolutely historical warrant for supporting fiscal action.
  • with regards to the broader economy, the entire federal-government apparatus essentially stood behind the spread of home ownership in the United States and the promotion of suburbanization through the credit system. And kind of what we need is a Fannie Mae and Freddie Mac for the energy transition.
  • if the question is, Is there historical warrant for the financial agencies of government in the United States biasing the property structure in the economy in a certain way?, the answer is emphatically yes—all the way down to the grotesque role of the New Deal financial apparatus in enshrining the racial segregation of the American urban space, with massive effects from the 1930s onward.
  • The idea of neutrality should not even be allowed in the room in this argument. It’s a question of where we want to be biased. If you look at QE, especially in the U.K. and the EU, it was effectively fossil-biased.
  • monetary policy is not neutral with regards to the environment. There’s no safe space here. The only question is whether you’re going to lead in the right way
  • Meyer: Last question. With any of this, is there a role for interested Americans to play if they are not particularly tied to the financial- or monetary-policy elite?
  • Tooze: Support your congressperson in doing exactly what AOC did in the hearings with Powell a couple of weeks ago
  • [Editor’s Note: Representative Alexandria Ocasio-Cortez asked Powell whether inflation and unemployment are still closely connected, as the Fed has long argued.]
  • Applaud, follow with interest, raise questions. That’s exactly what needs to be happening. The politicization of monetary policy is a fact.
  • If we don’t raise these questions, the de facto politics is, more often than not, conservative and status quo–oriented. So this, like any other area, is one where citizens—whether they’re educated and informed or not—need to wise up, get involved, and follow the arguments and develop positions.
  • So applaud your congresspeople when they do exactly what AOC was doing in that situation. In many ways, I thought it was one of the most hopeful scenes I’ve seen in that kind of hearing in a long time.
Javier E

Economics of Good and Evil: The Quest for Economic Meaning from Gilgamesh to Wall Street (Tomas Sedlacek and Vaclav Havel) - 2 views

DIIGO_FILE_HOME/7ui9/74ec4c99e72deda4a64da10692a15bf6

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

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  • 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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carolinehayter

Minneapolis promised change after George Floyd. Instead it's geared up for war | George Floyd | The Guardian - 0 views

www.theguardian.com/...-instead-its-geared-up-for-war

Politics US crisis Culture Policy

shared by carolinehayter on 11 Mar 21 - No Cached
  • The trial of Derek Chauvin, the officer who killed Floyd, has begun - and Minneapolis looks like a police state
  • he George Floyd uprising that began in Minneapolis introduced the demand of defunding the police to the general public, empowered Black-led anti-police violence movements across the planet, generated policy changes in cities across the US, and most importantly built new organizations which have the capacity to fight for systemic change for the long haul.
  • including a move to actually defund the Minneapolis police department
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  • Now, however, the Minneapolis and Minnesota governments are in the process of undoing that progress and moving in the opposite direction
  • Instead of becoming more transparent and committed to undoing the anti-Black image it has cultivated, the city of Minneapolis has quickly transformed itself into a 21st-century police state, pushing even beyond the hyper-militarization and violence that already plague police departments across the US.
  • Some of the blame for this policy about-face lies with the city’s rising violent crime rate and the subsequent push by some within Minneapolis for increased policing.
  • By this winter, the summer’s ambitions had been replaced by a renewed commitment to the status quo.
  • Their attempts were dashed by a state oversight commission that shut down a ballot initiative that would have given voters the chance to abolish the police department in favor of a proposed department of community safety and violence prevention.
  • That seems like the direction that the state of Minnesota, and Minneapolis more specifically, is headed as they prepare for protests in response to a potential acquittal of yet another police officer caught executing someone on camera.
  • The governor has also proposed $35m in state aid to fund the deployment of police officers from across the state to support the Minneapolis police department in the case of “extraordinary public safety events”. The state is also coordinating with the FBI, the federal joint terrorism taskforce, and the federal Bureau of Alcohol, Tobacco, Firearms and Explosives.
  • The Hennepin county government center, the location of the trial, is being turned into a fortress. Several layers of high-security barbed-wire fences line the area around the center and a few buildings around it; they are reinforced with large concrete barriers which, combined with up to 2,000 national guard soldiers, give the impression that the city is ready to fight its own people.
  • “As the people of Minneapolis and Minnesota are calling for justice and healing, and care, state officials have been responding in some ways by basically preparing to go to war with folks … So, I do think it’s meant to be an intimidation tactic.”
  • the city also wanted to pay social media influencers to share messages during the trial to prevent potential rioting.
  • People in Minneapolis are preparing for the trial in their own ways. Some organizers have already planned protests, while others are rebuilding mutual aid networks to support each other with grocery runs and resources in case of unrest.
  • Instead of committing to police reform and transparency – or acknowledging the growing threat of the far right – the city of Minneapolis is, in the words of city councilman Jeremiah Ellison, “showing up ready for war”.
Javier E

How Emergent BioSolutions Put an 'Extraordinary Burden' on the U.S.'s Troubled Stockpile - The New York Times - 0 views

www.nytimes.com/...tions-anthrax-coronavirus.html

government pandemic preparation

shared by Javier E on 07 Mar 21 - No Cached
  • Government purchases for the Strategic National Stockpile, the country’s emergency medical reserve where such equipment is kept, have largely been driven by the demands and financial interests of a handful of biotech firms that have specialized in products that address terrorist threats rather than infectious disease.
  • “Today, I think, we would not allow anthrax to take up half the budget for a guaranteed supply of vaccines,” he said, adding, “Surely after such a calamity as the last year, we should take a fresh look at stockpiles and manufacturing and preparing for the next pandemic.”
  • Under normal circumstances, Emergent’s relationship with the federal stockpile would be of little public interest — an obscure contractor in an obscure corner of the federal bureaucracy applying the standard tools of Washington, like well-connected lobbyists and campaign contributions, to create a business heavily dependent on taxpayer dollars.
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  • Security concerns, moreover, keep most information about stockpile purchases under wraps. Details about the contracts and inventory are rarely made public, and even the storage locations are secret.
  • Former Emergent employees, government contractors, members of Congress, biodefense experts and current and former officials from agencies that oversee the stockpile described a deeply dysfunctional system that contributed to the shocking shortages last year.
  • Purchases are supposed to be based on careful assessments by government officials of how best to save lives, but many have also been influenced by Emergent’s bottom line
  • The stockpile has long been the company’s biggest and most reliable customer for its anthrax vaccines, which expire and need to be replaced every few years.
  • In the two decades since the repository was created, Emergent’s aggressive tactics, broad political connections and penchant for undercutting competitors have given it remarkable sway over the government’s purchasing decisions related to the vaccines
  • While national security officials still consider anthrax a threat, it has not received specific mention since 2012 in the intelligence community’s annual public assessment of dangers facing the country, a report that has repeatedly warned of pandemics.
  • Emergent bought the license for the country’s only approved anthrax vaccine in 1998 from the State of Michigan. Over time, the price per dose the government agreed to pay Emergent increased nearly sixfold, accounting for inflation, contributing to record revenues last year that topped $1.5 billion
  • The company, whose board is stocked with former federal officials, has deployed a lobbying budget more typical of some big pharmaceutical companies
  • Competing efforts to develop a better and cheaper anthrax vaccine, for example, collapsed after Emergent outmaneuvered its rivals, the documents and interviews show.
  • preparations for an outbreak like Covid-19 almost always took a back seat to Emergent’s anthrax vaccines
  • the government approved a plan in 2015 to buy tens of millions of N95 respirators — lifesaving equipment for medical workers that has been in short supply because of Covid-19 — but the masks repeatedly lost out in the competition for funding over the years leading up to the pandemic
  • After Dr. Frieden and others in the Obama administration tried but failed to lessen Emergent’s dominance over stockpile purchases, the company’s fortunes rose under Mr. Trump, who appointed a former Emergent consultant with a background in bioterrorism to run the office that now oversees the stockpile
  • “If I could spend less on anthrax replenishment, I could buy more N95s,” Dr. Kadlec said in an interview shortly after leaving office. “I could buy more ventilators. I could buy more of other things that quite frankly I didn’t have the money to buy.”
  • And now, as some members of Congress push for larger reserves of ventilators, masks and other equipment needed in a pandemic, a trade group led in part by a top Emergent lobbyist has warned that the purchases could endanger companies focused on threats like anthrax and smallpox by drawing down limited funds.
  • Last year, as the pandemic raced across the country, the government paid Emergent $626 million for products that included vaccines to fight an entirely different threat: a terrorist attack using anthrax.
  • “I think it’s pretty clear that the benefit of the vaccine is marginal,” he said in an interview
  • “They’re very vicious in their behavior toward anybody they perceive as having a different point of view,” said Dr. Tara O’Toole, a former Homeland Security official who says she ran afoul of Emergent in 2010 after telling Congress that the nation needed a newer and better anthrax vaccine.
  • That year, the company that would become Emergent — then known as BioPort — paid Michigan $25 million to buy the license for a government-developed anthrax vaccine and an aging manufacturing plant.
  • The company opened its doors with one product, called BioThrax, and one customer, the Defense Department, which required the vaccine for service members.
  • Emergent’s anthrax vaccine was not the government’s first choice. It was more than 30 years old and plagued by manufacturing challenges and complaints about side effects. Officials instead backed a company named VaxGen, which was developing a vaccine using newer technology licensed from the military.
  • Emergent’s successful campaign against VaxGen — deploying a battalion of lobbyists, publicly attacking its rival and warning that it might cease production of its own vaccine if the government didn’t buy it — established its formidable reputation. By 2006, VaxGen had lost its contract and the government had turned to Emergent to supply BioThrax.
  • “They were totally feared by everybody,” Dr. Philip Russell, a top health official in the administration of President George W. Bush, said in an interview. He said that he clashed with Emergent when he backed VaxGen, and that his reputation came under attack, which was documented by The Times in 2006. (Dr. Russell died this January.)
  • the group of federal officials who make decisions about the stockpile and other emergency preparations — known as the Phemce, for the Public Health Emergency Medical Countermeasures Enterprise — ordered up a study. It found in 2010 that the government could not afford to devote so much of its budget to a single threat.
  • Instead, the review concluded, the government should invest more in products with multiple applications, like diagnostic tests, ventilators, reusable respirator masks and “plug and play” platforms that can rapidly develop vaccines for a range of outbreaks.
  • from 2010 through 2018, the anthrax vaccine consumed more than 40 percent of the stockpile’s budget, which averaged $560 million during those years.
  • Emergent and the government have withheld details of the stockpile contracts, including how much the company has charged for each dose of BioThrax, but executives have shared some of the missing information with investors.
  • The company in 1998 agreed to charge the government an average of about $3.35 per dose, documents show. By 2010, the price had risen to about $28, according to financial disclosures and statements by Emergent executives, and now it is about $30
  • Over the past 15 years, the company recorded a gross profit margin of about 75 percent for the vaccine, in an arrangement that one Emergent vice president called a “monopoly.”
  • Emergent’s rise is the stuff of lore in biodefense circles — a tale of savvy dealings, fortuitous timing and tough, competitive tactics.
  • One afternoon in October 2010, Wall Street investors gathered at the Millennium Broadway Hotel in Manhattan for a presentation by Mr. Burrows. He shared with them a secret number: 75 million.That was how many BioThrax doses the government had committed to stockpiling, and it was the backbone of Emergent’s thriving business. In pursuit of that goal, the government had already spent more than $900 million, and it continued to buy virtually every dose Emergent could produce. It had even awarded the company more than $100 million to expand its Michigan factory.
  • “The best approach toward anthrax is antimicrobial therapy,” Dr. Anthony S. Fauci, the government’s top infectious-disease expert, told Congress as early as 2007.
  • In an analysis published in 2007, the firm determined that giving antibiotics immediately after a large outdoor anthrax attack was likely to reduce serious illnesses by more than 80 percent. Administering the vaccine would then cut serious illnesses only by an additional 4 percent.
  • Dr. Ali S. Khan, who ran the C.D.C. office managing the stockpile until 2014, said bluntly: “We overpaid.”
  • “A bunch of people, including myself, were sitting in a room and asking what kind of attack might happen,” said Dr. Kenneth Bernard, a top biodefense adviser to Mr. Bush, recalling a meeting in the months after the 2001 attacks.
  • “And somebody said, ‘Well, I can’t imagine anyone attacking more than three cities at once,’” he said. “So we took the population of a major U.S. city and multiplied by three.”
  • A team of Homeland Security and health officials began doing just that in 2013. The group determined, in a previously undisclosed analysis, that the government could stockpile less BioThrax and still be prepared for a range of plausible attacks, according to two people involved in the assessment. Separately, government researchers concluded that two doses of BioThrax provided virtually the same protection as three.
  • the National Intelligence Council, which helped draft the assessments during Mr. Obama’s second term, said in an interview that the idea of a three-city attack affecting 25 million people was “straining credulity.”
  • “If you talk to the head of the House Intelligence Committee,” Don Elsey, Emergent’s chief financial officer, told investors in 2011, “and you say, ‘What are you most worried about?’ he’ll say, ‘Let me see: Number one, anthrax; number two, anthrax; number three, anthrax.’”
  • Emergent’s sales strategy was to address that fear by promising the federal government peace of mind with its vaccine.
  • “There’s a political element involved,” Mr. Burrows, the company’s vice president of investor relations, said at an industry conference in 2016. “I don’t have a marketing expense. I have lobbying expense.”
  • Since 2010, the company has spent an average of $3 million a year on lobbying — far outspending similarly sized biotech firms, and roughly matching the outlays of two pharmaceutical companies with annual revenues at least 17 times greater, AstraZeneca and Bristol Myers Squibb
  • In 2015, as stockpile managers questioned the large purchases of BioThrax, the spending topped $4 million
  • “They were pouring it on — how poor they were and how this was going to ruin the company, and they’d have to close down factories, and America was going to be left without anthrax vaccine,”
  • “Their revolving door is moving at 60 miles per hour,” said former Senator Claire McCaskill, a Democrat from Missouri who had questioned spending on the vaccine while in the Senate. “There is really a lot of incestuousness because it’s such a specialized field.”
  • Ms. DeLorenzo, the Emergent spokeswoman, said the lobbying was necessary because government investment “in biodefense and other public health threats has not been as strongly prioritized as it should be.”
  • Over the past 10 years, Emergent’s political action committee has spread almost $1.4 million in campaign contributions among members of both partie
  • The move followed a yearslong pattern of retaining a bipartisan lobbying corps of former agency officials, staff members and congressmen, including Pete Hoekstra of Michigan, Tom Latham of Iowa and Jim Saxton of New Jersey.
  • “You have people coming and saying, ‘There’s no market for this — nobody’s going to produce this unless you buy enough of it to keep the production line open,’” he said. “It’s an absolutely appropriate argument to make.”
  • Emergent’s campaign proved effective. Despite the 2015 recommendation by the stockpile managers, Senate overseers made clear they opposed the reduction, and the government went ahead and bought $300 million worth of BioThrax.
  • Emergent executives, meanwhile, warned that there could be job losses at the factory in Lansing, Mich. — the capital of a swing state at the center of a contentious presidential campaign between Mr. Trump and Hillary Clinton.
  • Because Emergent was the sole manufacturer of a product deemed critical to national security, the company has played what one former executive described to The Times as “the we’re-going-to-go-bankrupt card.”
  • Dr. Hatchett said the idea gave him pause. But, he explained in an interview, “if there’s only one partner that can provide a product and only one customer for that product, the customer needs the partner to survive.”
  • Just a year later, Emergent spent about $200 million in cash, and made other financial commitments, to acquire Sanofi’s smallpox vaccine and GlaxoSmithKline’s anthrax treatment, two products with established pipelines to the stockpile. The purchases expanded Emergent’s hold over the reserve.
  • Ms. DeLorenzo said the acquisitions did not suggest the company was better off than it had claimed, but Dr. Bright said he and others involved in the bailout felt used.
  • a plan five years earlier to create an emergency supply of N95 respirators was simply not funded. A team of experts had proposed buying tens of millions of the masks to fill the gap during an outbreak until domestic manufacturing could ramp up, according to five officials involved in the assessment, which has not been previously disclosed.
  • By the time the novel coronavirus emerged, the stockpile had only 12 million of the respirators. The stockpile has since set a goal of amassing 300 million.
  • Dr. Kadlec, the Trump administration official overseeing the stockpile, said he used the previous administration’s mask recommendation to raise alarms as early as 2018.
  • Dr. Annie De Groot, chief executive of the small vaccine company EpiVax, spoke about the need to break Emergent’s lock on research dollars at a biodefense forum in 2015.
  • “Politicians want to look like they’ve addressed the problem,” she said. “But we need to actually listen to the scientists.”
  • Over the last five years, Emergent has received nearly a half-billion dollars in federal research and development funding, the company said in its financial disclosures.
  • “We know ahead of time when funding opportunities are going to come out,” Barbara Solow, a senior vice president, told investors in 2017. “When we talk to the government, we know how to speak the government’s language around contracting.”
  • The company used federal money to make improvements to BioThrax, and also found a way to earn government money from a competing anthrax vaccine it had excoriated. After the demise of VaxGen in 2006, Emergent bought the company’s unfinished vaccine and in 2010 persuaded the federal government to continue paying for research on it
  • By the time the research contract was canceled in 2016, Emergent had collected about $85 million, records show. The company then shelved the vaccine. “If the U.S. government withdraws funding, we re-evaluate whether there is any business case for continuing,” Ms. DeLorenzo said.
  • For more than 30 years, the government had been encouraging the development of a BioThrax replacement. In 2002, the Institute of Medicine had concluded that an alternative based on more modern technology was “urgently needed.” By 2019, there were three leading candidates, including one made by Emergent, known as AV7909.
  • Emergent’s candidate was hardly the breakthrough the government was seeking, former health officials said. AV7909 was essentially an enhanced version of BioThrax. The competitors were using more modern technology that could produce doses more rapidly and consistently, and were promising significant cost savings for the stockpile.
  • To qualify for emergency authorization, a vaccine must be at an advanced stage of development with no approved alternatives. Emergent acknowledged in its financial disclosures that there was “considerable uncertainty” whether the new vaccine met those requirements.
  • The election of Mr. Trump as president was good news for Emergent.
  • Dr. Lurie, the senior health official in the Obama administration who had tried to scale back BioThrax purchases, was out. Mr. Trump’s pick to replace her was Dr. Kadlec, a career Air Force physician and top biodefense official in the Bush administration who was fixated on bioterrorism threats, especially anthrax, current and former officials said
  • Soon after entering the Trump administration in 2017, Dr. Kadlec took a series of actions that he characterized as streamlining a cumbersome bureaucracy but that had the effect of benefiting Emergent.
  • He assumed greater control of purchasing decisions, diminishing the authority of the Phemce, the oversight group that had proposed buying less BioThrax. And in 2018, he backed a decision to move control of the stockpile to his office in the Department of Health and Human Services and away from the C.D.C., which is based in Atlanta and prides itself on being insulated from the influence of lobbyists.
  • Dr. Frieden, the former C.D.C. director, was strongly opposed. The move, he said, “had almost as an explicit goal to give the lobbyists more say in what got purchased.”
  • That July, the government made the announcement Emergent had been banking on, committing to buying millions of doses. Separately, it said it would stop funding Emergent’s competitors.
  • The decision to side with Emergent did not surprise Dr. Khan, the former C.D.C. official overseeing the stockpile.“Again and again, we seem unable to move past an old technology that’s bankrupting the stockpile,” he said.
  • Last month, as the death toll from Covid-19 neared a half-million, Mr. Kramer, the company’s chief executive, told analysts there had been no “evidence of a slowdown or a delay or a deprioritization,” and echoed a statement he had made in April when asked whether the pandemic might interrupt Emergent’s sales to the stockpile.“It’s pretty much business as usual,” he said then.
lmunch

Former White supremacist: This is how to tackle hate and bigotry (Opinion) - CNN - 0 views

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

extremism culture US crisis Policy

shared by lmunch on 12 Mar 21 - No Cached
  • According to the US Department of Homeland Security, White supremacy is the biggest security threat facing the United States today based on the number of violent crimes committed. It eclipses all other types of extremism.
  • I would know -- because that was me. After serving in Afghanistan, I officially joined the White Knights of the KKK in 2014. The skills that I learned in the military, like a heightened level of mental and tactical awareness, are exactly what groups like this valued for the purpose of training new members. I was a prime target to be groomed and recruited.
  • During my service in Afghanistan, my best friend was killed in an unexpected attack on a routine drill. He died in my arms, and I blamed Muslims for his death. We were trained to see them as the enemy. I came home with a hatred for Islam as well as an addiction to the painkillers I was prescribed after a back injury. I had been trained in the military to serve with duty and loyalty. I would have done anything to show my loyalty to the White Knights of the KKK. It gave me a sense of purpose that I was missing after I came home.
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  • Because of the love and compassion they showed me, I was able to move forward in my life and give back. Now I help people disengage from hate groups, return to their families, and live healthy and happy lives.
  • As a former White supremacist and drug addict, I started to wonder if it was possible to be addicted to hate the way I was addicted to drugs as a coping tool. Based on this, I have spent the last two years developing two programs aimed at addressing the root causes of hate with Parents For Peace, which takes a public health approach to preventing radicalization, extremism, and violence.
  • Additionally, the government often cannot act if a crime hasn't been committed. That is why Parents For Peace's work is so important. The organization focuses on prevention and intervention to keep people from becoming extremists or committing extremist acts. Our work is challenging, and the outcomes are positive but silent.
  • If we think of hate as a public health crisis and a disease, we should treat it as such. It is the only way to effectively combat the rise of extremism.
rerobinson03

The U.S. Has a New Climate Goal. How Does It Stack Up Globally? - The New York Times - 0 views

www.nytimes.com/...new-climate-pledge.html

shared by rerobinson03 on 22 Apr 21 - No Cached
  • President Biden announced Thursday that America would aim to cut its greenhouse gas emissions 50 percent to 52 percent below 2005 levels by 2030.
  • The later baseline makes the United States target look a bit better, because it omits a period when emissions were rising. An earlier baseline makes Europe look more ambitious, since it has been cutting for longer.
  • To avoid many of the most catastrophic risks of climate change, such the collapse of polar ice sheets or widespread crop failures, scientists have said that the world likely needs to zero out emissions from fossil fuels and deforestation by around mid-century. “
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  • China, the world’s largest emitter of greenhouse gases, has pledged that its emissions will peak by around 2030. From that point, the country will then aim to get down to net zero emissions by 2060.
  • Partly for that reason, some environmentalists have argued that the United States should have picked an even more ambitious target for reducing emissions.
  • Many Republicans in Congress have argued that the Biden administration is acting too aggressively on climate change when countries like China and India have yet to commit to absolute emissions cuts. Senator John Barrasso, Republican of Wyoming, said that the president was “unilaterally committing America to a drastic and damaging emissions pledge” that would punish the U.S. economy while “America’s adversaries like China and Russia continue to increase emissions at will.”
  • So far, the results have been mixed. Japan and Canada both agreed to strengthen their 2030 targets. The British government said Tuesday that it would step up action with a new target, cutting emissions 78 percent below 1990 levels by 2035. But other major emitters such as China, India and Russia have yet to offer significant new pledges.
  • To get at least a 50 percent cut by 2030, a variety of studies have found, the United States would need to adopt sweeping new policies and slash emissions each year at an unprecedented rate. Possible strategies include requiring utilities to install vastly more wind and solar power, persuading Americans to buy many more electric cars, and forcing oil and gas companies to slash emissions of methane, a potent heat-trapping gas. States like California and New York could help, too, by following through on their plans to clean up their power plants and vehicle fleets.
  • “In countries where a change in government can derail the whole thing,” said Oliver Geden, a senior fellow at the German Institute for International and Security Affairs, “it’s a lot harder to be sure that these goals are here to stay.”
ethanshilling

Supreme Court Rejects Limits on Life Terms for Youths - The New York Times - 0 views

www.nytimes.com/...e-court-life-terms-youths.html

US supreme court

shared by ethanshilling on 22 Apr 21 - No Cached
  • The Supreme Court ruled on Thursday that judges need not determine that juvenile offenders are beyond hope of rehabilitation before sentencing them to die in prison. The decision, concerning a teenager who killed his grandfather, appeared to signal the end of a trend that had limited the availability of severe punishments for youths who commit crimes before they turn 18.
  • Justice Brett M. Kavanaugh, writing for the majority in the 6-to-3 ruling, said it was enough that the sentencing judge exercised discretion rather than automatically imposing a sentence of life without parole.
  • “In a case involving an individual who was under 18 when he or she committed a homicide,” he wrote, “a state’s discretionary sentencing system is both constitutionally necessary and constitutionally sufficient.”
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  • Over the past 16 years, the court, often led by Justice Anthony M. Kennedy, methodically limited the availability of the harshest penalties for crimes committed by juveniles, first by striking down the juvenile death penalty and then by restricting sentences of life without the possibility of parole.
  • Thursday’s decision, Jones v. Mississippi, No. 18-1259, concerned Brett Jones, who had recently turned 15 in 2004 when his grandfather discovered his girlfriend in his room. The two men argued and fought, and the youth, who had been making a sandwich, stabbed his grandfather eight times, killing him.
  • In 2005, Mr. Jones was convicted of murder and sentenced to life without the possibility of parole, then the mandatory penalty under state law. That same year, the Supreme Court ruled in Roper v. Simmons that the death penalty for juvenile offenders was unconstitutional.
  • In Montgomery v. Louisiana in 2016, the court made the Miller decision retroactive. In the process, it seemed to read the Miller decision to ban life without parole not only for defendants who received mandatory sentences but also “for all but the rarest of juvenile offenders, those whose crimes reflect permanent incorrigibility.”
  • “How low this court’s respect for stare decisis has sunk,” she wrote. “Now, it seems, the court is willing to overrule precedent without even acknowledging it is doing so, much less providing any special justification.”
  • Justice Kavanaugh rejected the charge that the majority had twisted the earlier decisions, saying it had faithfully complied with stare decisis, the legal doctrine requiring respect for precedent.
  • Justice Sotomayor responded that the majority had satisfied none of the usual criteria for overturning earlier decisions.
  • Writing for the majority on Thursday, Justice Kavanaugh said the resentencing did not violate the Eighth Amendment, which bans cruel and unusual punishments, because the punishment imposed by the trial judge had been discretionary rather than mandatory.
  • Justice Kavanaugh wrote that the Supreme Court’s earlier decisions had made life-without- parole sentences for juvenile offenders uncommon. In Mississippi, he wrote, resentencings following the Miller decision have “reduced life-without-parole sentences for murderers under 18 by about 75 percent.”
  • The experience in states that require a finding of incorrigibility was different, she wrote. In Pennsylvania, for example, fewer than 2 percent of resentencings have resulted in the reimposition of life-without-parole sentences.
  • Justice Kavanaugh wrote that states had tools to address juvenile life without parole.“States may categorically prohibit life without parole for all offenders under 18,” he wrote. “Or states may require sentencers to make extra factual findings before sentencing an offender under 18 to life without parole. Or states may direct sentencers to formally explain on the record why a life-without-parole sentence is appropriate notwithstanding the defendant’s youth.”
Javier E

Why Does the Myth of the Confederate Lost Cause Persist? - The Atlantic - 0 views

www.theatlantic.com/...618711

myth Lost Cause confederacy history memory

shared by Javier E on 10 May 21 - No Cached
  • A few years ago, I decided to travel around America visiting sites that are grappling—or refusing to grapple—with America’s history of slavery. I went to plantations, prisons, cemeteries, museums, memorials, houses, and historical landmarks. As I traveled, I was moved by the people who have committed their lives to telling the story of slavery in all its fullness and humanity. And I was struck by the many people I met who believe a version of history that rests on well-documented falsehoods.
  • For so many of them, history isn’t the story of what actually happened; it is just the story they want to believe. It is not a public story we all share, but an intimate one, passed down like an heirloom, that shapes their sense of who they are. Confederate history is family history, history as eulogy, in which loyalty takes precedence over truth.
  • “I don’t mind that they come on Memorial Day and put Confederate flags on Confederate graves. That’s okay,” she said. “But as far as I’m concerned, you don’t need a Confederate flag on—” She stumbled over a series of sentences I couldn’t follow. Then she collected herself and took a deep breath. “If you’re just talking about history, it’s great, but these folks are like, ‘The South shall rise again.’ It’s very bothersome.”
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  • She told me that she’d attended a Sons of Confederate Veterans event once but wouldn’t again. “These folks can’t let things go. I mean, it’s not like they want people enslaved again, but they can’t get over the fact that history is history.”
  • I thought about friends of mine who have spent years fighting to have Confederate monuments removed. Many of them are teachers committed to showing their students that we don’t have to accept the status quo. Others are parents who don’t want their kids to grow up in a world where enslavers loom on pedestals. And many are veterans of the civil-rights movement who laid their bodies on the line, fighting against what these statues represented. None of them, I thought as I looked at the smile on Gramling’s face, is a terrorist.
  • Gramling then turned his attention to the present-day controversy about Confederate monuments—to the people who are “trying to take away our symbols.” In 2019, according to a report from the Southern Poverty Law Center, there were nearly 2,000 Confederate monuments, place names, and other symbols in public spaces across the country. A follow-up report after last summer’s racial-justice protests found that more than 160 of those symbols had been removed or renamed in 2020.
  • Gramling said that this was the work of “the American ISIS.” He looked delighted as the crowd murmured its affirmation. “They are nothing better than ISIS in the Middle East. They are trying to destroy history they don’t like.”
  • Founded in 1896, the Sons of Confederate Veterans describes itself as an organization of about 30,000 that aims to preserve “the history and legacy of these heroes, so future generations can understand the motives that animated the Southern Cause.” It is the oldest hereditary organization for men who are descendants of Confederate soldiers. I was wary of going to the celebration alone, so I asked my friend William, who is white, to come with me.
  • “I think everybody should learn the truth,” Jeff said, wiping the sweat from his forehead.“What is that truth?” I asked.
  • It was then, in the late 1800s, that the myth of the Lost Cause began to take hold. The myth was an attempt to recast the Confederacy as something predicated on family and heritage rather than what it was: a traitorous effort to extend the bondage of millions of Black people. The myth asserts that the Civil War was fought by honorable men protecting their communities, and not about slavery at all.
  • The early 1900s saw a boom in Confederate-monument building. The monuments were meant to reinforce white supremacy in an era when Black communities were being terrorized and Black social and political mobility impeded. They were also intended to teach new generations of white southerners that the cause their ancestors had fought for was just.
  • That myth tried to rewrite U.S. history, and my visit to Blandford showed how, in so many ways, it had succeeded.
  • The Louisville Daily Courier, for example, warned nonslaveholding white southerners about the slippery slope of abolition: “Do they wish to send their children to schools in which the negro children of the vicinity are taught? Do they wish to give the negro the right to appear in the witness box to testify against them?” The paper threatened that Black men would sleep with white women and “amalgamate together the two races in violation of God’s will.”
  • “Everybody always hears the same things: ‘It’s all about slavery.’ And it wasn’t,” he said. “It was about the fact that each state had the right to govern itself.”He pointed to a tombstone about 20 yards away, telling me it belonged to a “Black gentleman” named Richard Poplar. Jeff said Poplar was a Confederate officer who was captured by the Union and told he would be freed if he admitted that he’d been forced to fight for the South. But he refused.
  • But the reality is that Black men couldn’t serve in the Confederate Army. And an 1886 obituary suggests that Poplar was a cook for the soldiers, not someone engaged in combat.
  • Some people say that up to 100,000 Black soldiers fought for the Confederate Army, in racially integrated regiments. No evidence supports these claims, as the historian Kevin M. Levin has pointed out, but appropriating the stories of men like Poplar is a way to protect the Confederacy’s legacy. If Black soldiers fought for the South, how could the war have been about slavery? How could it be considered racist now to fly the Dixie flag?
  • I don’t know if it’s true or not, but I like it”—I kept coming back to Gramling’s words. That comment was revealing. Many places in the South claim to be the originator of Memorial Day, and the story is at least as much a matter of interpretation as of fact. According to the historian David Blight, the first Memorial Day ceremony was held in Charleston, South Carolina, in May 1865, when Black workmen, most of them formerly enslaved, buried and commemorated fallen Union soldiers.
  • Two children ran behind me, chasing a ball. Jeff smiled. He told me that he doesn’t call it the “Civil War,” because that distorts the truth. “We call it the ‘War Between the States’ or ‘of Northern Aggression’ against us,” he said. “Southern people don’t call it the Civil War, because they know it was an invasion … If you stayed up north, ain’t nothing would’ve happened.”
  • I asked him what he believed the cause of the Civil War had been. “How do I put this gently?” he said. “People are not as educated as they should be.” They’re taught that “these men were fighting to keep slavery legal, and if that’s what you grow up believing, you’re looking at people like me wearing this uniform: ‘Oh, he’s a racist.’ ” He said he’d done a lot of research and decided the war was much more complicated.
  • I thought that scenario was unlikely; cities have spent millions of dollars on police protection for white nationalists and neo-Nazis, people far more extreme than the Sons of Confederate Veterans. I found it a little ironic that these monuments had been erected in part to instill fear in Black communities, and now Jason was the one who felt scared.
  • The typical Confederate soldier hadn’t been fighting for slavery, he argued. “The average age was 17 to 22 for a Civil War soldier. Many of them had never even seen a Black man. The rich were the ones who had slaves. They didn’t have to fight. They were draft-exempt. So these men are going to be out here and they’re going to be laying down their lives and fighting and going through the hell of camp life—the lice, the rats, and everything else—just so this rich dude in Richmond, Virginia, or Atlanta, Georgia, or Memphis, Tennessee, can have some slaves? That doesn’t make sense … No man would do that.”
  • But the historian Joseph T. Glatthaar has challenged that argument. He analyzed the makeup of the unit that would become Lee’s Army of Northern Virginia and pointed out that “the vast majority of the volunteers of 1861 had a direct connection to slavery.” Almost half either owned enslaved people or lived with a head of household who did, and many more worked for slaveholders, rented land from them, or had business relationships with them.
  • Many white southerners who did not own enslaved people were deeply committed to preserving the institution. The historian James Oliver Horton wrote about how the press inundated white southerners with warnings that, without slavery, they would be forced to live, work, and inevitably procreate with their free Black neighbors.
  • I asked Jeff whether he thought slavery had played a role in the start of the Civil War. “Oh, just a very small part. I mean, we can’t deny it was there. We know slave blocks existed.” But only a small number of plantations even had slaves, he said.It was a remarkable contortion of history, reflecting a century of Lost Cause propaganda.
  • The proposition of equality with Black people was one that millions of southern white people were unwilling to accept. The existence of slavery meant that, no matter your socioeconomic status, there were always millions of people beneath you. As the historian Charles Dew put it, “You don’t have to be actively involved in the system to derive at least the psychological benefits of the system.”
  • Once one of the most successful sugarcane enterprises in all of Louisiana, the Whitney is surrounded by a constellation of former plantations that host lavish events—bridal parties dancing the night away on land where people were tortured, taking selfies in front of the homes where enslavers lived. Visitors bask in nostalgia, enjoying the antiques and the scenery. But the Whitney is different. It is the only plantation museum in Louisiana with an exclusive focus on enslaved people. The old plantation house still stands—alluring in its decadence—but it’s not there to be admired. The house is a reminder of what slavery built, and the grounds are a reminder of what slavery really meant for the men, women, and children held in its grip.
  • Like Blandford, the Whitney also has a cemetery, of a kind. A small courtyard called the Field of Angels memorializes the 2,200 enslaved children who died in St. John the Baptist Parish from 1823 to 1863. Their names are carved into granite slabs that encircle the space. My tour guide, Yvonne, the site’s director of operations, explained that most had died of malnutrition or disease. Yvonne, who is Black, added that there were stories of some enslaved mothers killing their own babies, rather than sentencing them to a life of slavery.
  • Before the coronavirus pandemic, the Whitney was getting more than 100,000 visitors a year. I asked Yvonne if they were different from the people who might typically visit a plantation. She looked down at the names of the dead inscribed in stone. “No one is coming to the Whitney thinking they’re only coming to admire the architecture,” she said.
  • Did the white visitors, I asked her, experience the space differently from the Black visitors? She told me that the most common question she gets from white visitors is “I know slavery was bad … I don’t mean it this way, but … Were there any good slave owners?”
  • “I really give a short but nuanced answer to that,” she said. “Regardless of how these individuals fed the people that they owned, regardless of how they clothed them, regardless of if they never laid a hand on them, they were still sanctioning the system … You can’t say, ‘Hey, this person kidnapped your child, but they fed them well. They were a good person.’ How absurd does that sound?”
  • But so many Americans simply don’t want to hear this, and if they do hear it, they refuse to accept it. After the 2015 massacre of Black churchgoers in Charleston led to renewed questions about the memory and iconography of the Confederacy, Greg Stewart, another member of the Sons of Confederate Veterans, told The New York Times, “You’re asking me to agree that my great-grandparent and great-great-grandparents were monsters.”
  • So much of the story we tell about history is really the story we tell about ourselves. It is the story of our mothers and fathers and their mothers and fathers, as far back as our lineages will take us. They are the stories Jeff tells as he sits watching the deer scamper among the Blandford tombstones at dusk. The stories he wants to tell his granddaughters when he holds their hands as they walk over the land. But just because someone tells you a story doesn’t make that story true.
  • Would Jeff’s story change, I wonder, if he went to the Whitney? Would his sense of what slavery was, and what his ancestors fought for, survive his coming face-to-face with the Whitney’s murdered rebels and lost children? Would he still be proud?
katherineharron

Francis Rooney is the rare Republican open to impeaching Trump - CNNPolitics - 0 views

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

trump

shared by katherineharron on 20 Oct 19 - No Cached
  • Rooney, a member of the House Foreign Affairs Committee at the center of the inquiry, said Friday that he had not yet come to a conclusion on whether the President committed a crime that compels his removal from office, a striking view among House Republicans defensive of Trump.
  • Rooney is not a typical rank-and-file House Republican. Before winning his first election in 2016, the 65-year-old wealthy businessman's company oversaw construction projects including not only the presidential libraries for both George H. W. Bush and George W. Bush, and the stadiums for the Texas Rangers, Dallas Cowboys and Houston Texans, but the Capitol Visitor's Center, where the witnesses of the investigation dash to enter a secure facility and give their testimonies. He is on now at least his third career, after serving as the US ambassador to the Holy See under the last GOP president.
  • Rooney did acknowledge that some Republicans might be afraid of being rebuked by the party if they expressed skepticism about the President, saying "it might be the end of things for me...depending on how things go."
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  • "I didn't take this job to keep it," he said.
  • After receiving a government whistleblower's complaint last month, Democrats have alleged Trump used his public office for personal gain, holding up $391 million in military aid to Ukraine and then pressuring its leader on a July 25 phone call to investigate both a political rival and a conspiracy theory related to the 2016 election.
  • They've been particularly focused on the first ask, an investigation into former Vice President Joe Biden and his son Hunter, who sat on the board of a Ukrainian energy company, Burisma Holdings, whose owner had been probed by the former Ukrainian general prosecutor. There is no evidence of wrongdoing by either Joe or Hunter Biden.
  • "It's painful to me to see this kind of amateur diplomacy, riding roughshod over our State Department apparatus," Rooney said. "I've got great respect for the professional diplomats that protect America around the world."
  • "I'm not considering anything right now other than getting all the facts and learning more about it," Rooney said. "I'm a business guy, okay? I'm used to being open to all points of view -- and making the best decision I can. But there's a lot of water still to flow down under the bridge on this thing."
  • He's in the minority of the House, and neither a rabble-rouser nor a part of the leadership team. When asked by a reporter if he had any anecdotes to share about Rooney, Rep. Charlie Crist, a Democrat of Florida, asked whether the article would be for the local newspaper.Rooney has carved out a reputation for not being shy in breaking from the party, particularly on environmental issues. He's one of the few House Republicans devoted to combating climate change. He supports a tax on carbon emissions and is a critic of the state's sugar industry. And he is one of about a dozen House Republicans to vote against Trump's emergency declaration diverting billions of dollars away from military construction projects towards the wall.
  • Rooney is free from much political pressure due in part to his vast personal wealth, driven by his success as the CEO of the investment company Rooney Holdings, the majority owner of Manhattan Construction Company. But the transition from business to elected official has not been entirely pleasant."This is kind of a frustrating job for me," Rooney said. "I come from a world of action, decisions, putting your money down and seeing what happens. This is a world of talk. It's very difficult for me to just stand up and talk."
  • The congressman's experience as a former ambassador in the George W. Bush administration has given him an appreciation for the witnesses who come before him. He said he's eager to hear from acting ambassador to Ukraine Bill Taylor next week, whom he called "a very well respected career diplomat."
  • But so far, few Republicans have joined Democrats in even considering that the President committed a crime. Many GOP congressmen say there was no quid pro quo between Trump and Volodymyr Zelensky on that now-famous July call, while others say Trump's conduct was inappropriate but not impeachable.
  • Rooney has also taken issue with Mulvaney's defense of the President's actions. The acting White House chief of staff said on Thursday that the Trump administration "held up the money" for Ukraine because the President wanted to investigate "corruption" related to a conspiracy theory involving the whereabouts of the Democratic National Committee's computer server hacked by Russians during the last presidential campaign.
  • Democrats have argued that even if no favors were exchanged, Trump committed an impeachable offense in asking a foreign country to interfere in a US election. But Mulvaney's comments undermined a key GOP stance that the President's actions were not impeachable, asserting that there was no quid pro quo and the aid eventually went through to Ukraine. Hours after the news conference on Thursday, Mulvaney released a statement reversing his prior comments.
blairca

Libya civil war: World leaders committed to peace, UN chief says - BBC News - 0 views

www.bbc.com/...world-africa-51166247

world UN leaders libya

shared by blairca on 20 Jan 20 - No Cached
  • World leaders have pledged not to interfere in Libya's ongoing civil conflict, and have vowed to uphold a UN arms embargo.
  • Leaders from the EU, Russia and Turkey were among those who committed to an end to foreign intervention in Libya's war, and to uphold a UN arms embargo.
  • The commitment by foreign backers of the conflict - which include Russia, Egypt and Turkey - to respect the UN arms embargo on Libya will only be taken seriously if the UN Security Council acts on violations. This is something it has failed to do in years of conflict.
  • ...1 more annotation...
  • Libya has been wracked by conflict since the 2011 uprising which ousted long-time strongman Muammar Gaddafi.
Javier E

Larry Summers and Glenn Hubbard Square Off on Our Economic Future - NYTimes.com - 0 views

www.nytimes.com/...ff-on-our-economic-future.html

economics forecasting US economy theory unemployment benefits

shared by Javier E on 30 May 13 - No Cached
  • Even these two, with such similar training and moderate impulses, are remarkably far apart on basic questions
  • Hubbard argues that the imperative of the moment — our 3-point shot — is rolling back federal benefits for wealthier and middle-class Americans. If it’s done right, he says, taxes will fall and “more entrepreneurs will start businesses. Corporate investment would rise, creating more jobs. Individuals will work harder and save more. The country would have faster growth. The benefits are quite broad.” If we stay the present course, though, Social Security, Medicare and Medicaid will keep growing unchecked, and the United States, paralyzed by debt, could burn like Rome.
  • Summers, who once told me “I don’t do apocalypse,” acknowledged that some entitlement reform is inevitable, but that it is not the real adjustment that needs to be made. “That is playing defense,” he said. “It is essential but insufficient.” Instead, Summers wants the country to start playing offense: the crisis that demands our attention now, he says, is long-term unemployment. Millions of Americans have been out of work for more than half a year, many for much longer; not only are they suffering, but the overall economy is poorer without their contribution. Summers argues that the U.S. government can address this problem in several ways, especially by committing to more government spending, notably on infrastructure.
  • ...17 more annotations...
  • they might at least help clarify the choices that will define the future of our economy.
  • How did two men, whose work is widely respected, reach such different conclusions from data about the same economy? As I read their papers, I realized that they simply asked different questions.
  • Hubbard was fascinated by analyzing the ways in which government intervention can distort otherwise efficient markets; many of Summers’s papers explored the reasons markets aren’t always perfectly efficient.
  • I met Summers and Hubbard in a small, well-appointed room at the Council on Foreign Relations on Manhattan’s Upper East Side to hear them battle it out as if they were preparing to brief the president and leaders of Congress on what must be done to fix our economy right now
  • I wanted to hear their answers, of course, but I was also interested in how they made them. I wanted to understand the extent to which empirical economic research can provide objective guidance for policy — and at what point even brilliant, highly trained economists resort to articles of faith.
  • Hubbard quickly zeroed in on the issue that has defined his career. In regard to the size of the government, Hubbard said the real challenge is the steady rise in so-called entitlement spending
  • His views all seemed to coalesce around a fairly simple idea: the U.S. economy is better off when the government gets out of the way.
  • Summers’s worldview seemed to take into account more moving pieces. “It would surely be better to address long-run fiscal issues sooner rather than later,” he said. “But this needs to be done in a balanced way. The highest priority is getting the economy growing.”
  • Their views were especially incompatible when the talk veered to rising inequality.
  • Summers said he would limit benefits for the rich like “carried interest” rules that allowed private-equity managers (including, I recalled, Mitt Romney) to convert their income, which would be taxed close to 40 percent, into something that looked just like capital gains, which are taxed at 20 percent. He also said that the very wealthy should pay higher inheritance taxes. Dynastic wealth is “highly problematic in a society committed to freedom of opportunity,” he said.
  • For Hubbard, though, the rich aren’t the problem. The pursuit of wealth, he said, is an engine that powers the economy, and it makes no sense to address inequality by redistributing the very thing that fuels growth. “The real question is ‘What can we do to improve the earnings of lower- and middle-income Americans?’ ” he said. “That’s about increased education and skills training, and that may require higher government spending.” (Hubbard’s belief in more education financing sets him apart from more doctrinaire conservatives.) Hubbard also dismissed Summers’s concerns about dynastic wealth. So few Americans have that kind of money, he said, that taxing them doesn’t make a major impact on the nation’s finances.
  • In the end, it became clear that Hubbard sees many of our economic challenges — rising entitlements, inequality and even the financial crisis — as different manifestations of the same basic problem: unsustainable debt. Those challenges also have the same solution. If Congress and the White House can agree on a long-term plan to reduce the entitlements, everything will begin to look better. With a permanent solution in sight, investors will gain confidence from the fact that their country’s finances are in good shape and that their future tax burden will be lower; companies will hire workers. Then, once the big fiscal problem is solved, the government can redouble its efforts on education and help the truly needy.
  • . “There is no serious statistical evidence in support of the view that tax rates at current levels have a major disincentive effect on economic growth,” he said. He suggested, pointedly, comparing the rapid economic growth during the Clinton years with the comparatively worse performance of the post-tax-cut Bush period.
  • Summers settled on his point: The United States, he said, is not simply facing one unified problem that could be solved through one straightforward solution. The country is facing myriad challenges, starting with unemployment and slow growth. These immediate challenges, he said, can be addressed with a 10-year commitment by the government to spend $1 trillion on infrastructure.
  • both men took evident satisfaction in sticking to their guns, leaving me feeling the frustration that many do these days: Why can’t these two sides just work something out?
  • t he has come to think of the presidential election of 2016 as a battle between whoever will hire Larry Summers and whoever will hire Glenn Hubbard
  • Because somewhere in those following four years, he said, the fiscal crisis will become unavoidable, Congress will have to act, and it will have to work with the White House.
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