History Readings

for decades now, the central banks of the world have been giving policymakers a false signal that sovereign debt is cheap and limitless. Functioning like monetary roach motels, central banks have become a place where Treasury bonds go in but never come out — thereby causing bond prices to be far higher and interest yields much lower than would obtain in a market that wasn’t rigged.

With the central banks no longer ready to buy, the Treasury market will once again be driven by real investors — many of them likely to demand higher interest rates owing to the heightened fiscal risks recently highlighted by Standard & Poor’s.

Indeed, the Fed and currency-pegging central banks in East Asia and the Persian Gulf have absorbed nearly all of Uncle Sam’s multitrillion-dollar spree of debt issuance. Moreover, about $4.6 trillion, or more than half of all debt held by the public, is now sequestered in central banks — paid for with printing-press money.

Where her children were involved, Ann was eas­ily moved to tears, even occasionally when speaking about them to friends. She preferred humor to harping, but she was exacting about the things she believed mattered most. Richard Hook, who worked with Ann in Jakarta in the late 1980s and early 1990s, said she told him that she worked to instill ideas about public service in her son. She wanted Barry to have a sense of obligation, to give something back. She wanted him to start off, Hook said, with the attitudes and values she had taken years to learn.

“If you want to grow into a human being,” Obama remembers her saying, “you’re going to need some values.” When necessary, Ann was, according to two accounts, not unwilling to reinforce her message. “She talked about disciplining Barry, including spanking him for things where he richly deserved a spanking,” said Don Johnston, who worked with Ann in the early 1990s, sometimes traveling with her in Indonesia and living in the same house. Saman said that when Barry failed to finish homework sent from Hawaii by his grandmother, Ann “would call him into his room and would spank him with his father’s military belt.”

“We were not permitted to be rude, we were not permitted to be mean, we were not permitted to be arrogant,” Maya told me. “We had to have a certain humility and broad-mindedness. We had to study. . . . If we said something unkind about someone, she would try to talk about their point of view. Or, ‘How would you feel?’ Sort of compelling us ever toward empathy and those kinds of things and not allowing us to be selfish. That was constant, steady, daily.”

"Since I was twenty," Drucker wrote at eighty-two, "writing has been the foundation of everything I have been doing." From the first he showed a mastery of modern English prose. He has that rarest quality in a writer of non-fiction—a voice, a characteristic way of saying.

Economic Man limns a crisis of belief in capitalism (and socialism), the causes of which have yet to be ameliorated. Ignoring its specifically European causes, Drucker focuses on the civilizational causes of fascism. We live in that same civilization.

Drucker asserted in the book that Economic Man's promise—that a society built around the market (the major social institution of the nineteenth century) could achieve "freedom and justice through economic development"—had failed, and that this had "destroyed the belief in capitalism as a social system." The Great War and the Depression made this crisis of belief a reality for millions. "These catastrophes broke through the everyday routine which makes men accept existing forms, institutions and tenets as unalterable laws.

This is an argument to which the left-wing has a great deal of recourse whenever anyone suggests that people have a right to keep what they earn from voluntary transactions.  You can only make money in the context of society, and so society has a right to regulate your transactions, and seize the proceeds, in any way that society sees fit.

the argument applies just as well to our sex lives or our political beliefs: they take place in the context of all sorts of government protections

Does this mean that the government (or our employers) may properly restrict our sexual behavior to that of which a majority of our neighbors approve?

It’s  impossible to simultaneously take in and process all of the visual stimuli in our immediate environment.  Attempting to do so typically overwhelms the visual cortex which shuts down our higher level cognitive functioning and activates our more primal emotional brain. Or in layperson’s terms, we get flustered and cranky.

Highly disorganized (i.e. cluttered) environments compromise our cognitive functioning by overactivating the centers of the brain that manage visual processing.

To begin with, phones glow. It is a very normal impulse to stare at something in your hand that is emitting light.

the screen offers a data stream of many people, as opposed to the individual you happen to be near. Your e-mail, Twitter, Facebook and other online social groups all offer a data stream of many individuals, and you can choose the most interesting one, unlike the human rain delay you may be stuck with at a party.

there is also a specific kind of narcissism that the social Web engenders. By grooming and updating your various avatars, you are making sure you remain at the popular kid’s table. One of the more seductive data points in real-time media is what people think of you. The metrics of followers and retweets beget a kind of always-on day trading in the unstable currency of the self.

Henry Ford and Thomas Edison were famous life-long tinkerers, who discovered new ways of doing things by constantly improvising, experimenting, failing, and retesting.  Above all they were voraciously inquisitive learners.

Hal Gregersen of globe-spanning business school INSEAD surveyed over 3,000 executives and interviewed 500 people who had either started innovative companies or invented new products.

they learned to follow their curiosity

Lustig is a specialist on pediatric hormone disorders and the leading expert in childhood obesity at the University of California, San Francisco, School of Medicine

The viral success of his lecture, though, has little to do with Lustig’s impressive credentials and far more with the persuasive case he makes that sugar is a “toxin” or a “poison,” terms he uses together 13 times through the course of the lecture, in addition to the five references to sugar as merely “evil.” And by “sugar,” Lustig means not only the white granulated stuff that we put in coffee and sprinkle on cereal — technically known as sucrose — but also high-fructose corn syrup

If Lustig is right, then our excessive consumption of sugar is the primary reason that the numbers of obese and diabetic Americans have skyrocketed in the past 30 years. But his argument implies more than that. If Lustig is right, it would mean that sugar is also the likely dietary cause of several other chronic ailments widely considered to be diseases of Western lifestyles — heart disease, hypertension and many common cancers among them.

For a glimpse of your mosaic, type your name into Spokeo.com. Prepare to see estimates of your age, home value, marital status, phone number and your home address, even a photo of your front door. Spokeo, one of several services like this online, will encourage you to pay $15 or more, for a full report with details on income, hobbies and online social networks.

In debates over the roles of law and government in promoting the equality of income or in redistributing the fruits of capitalism, widely different motives are attributed to those who favor or oppose capitalism or income redistribution. According to one view, largely accepted in the academic social psychology literature (Jost et al. 2003), opposition to income redistribution and support for capitalism reflect an orientation toward social dominance, a desire to dominate other groups. According to another view that goes back at least to the nineteenth century origins of Marxism, anti-capitalism and a support for greater legal efforts to redistribute income reflect envy for the property of others and a frustration with one’s lot in a capitalist system.

compared to anti-redistributionists, strong redistributionists have about two to three times higher odds of reporting that in the prior seven days they were angry, mad at someone, outraged, sad, lonely, and had trouble shaking the blues. Similarly, anti-redistributionists had about two to four times higher odds of reporting being happy or at ease. Not only do redistributionists report more anger, but they report that their anger lasts longer. When asked about the last time they were angry, strong redistributionists were more than twice as likely as strong opponents of leveling to admit that they responded to their anger by plotting revenge. Last, both redistributionists and anti-capitalists expressed lower overall happiness, less happy marriages, and lower satisfaction with their financial situations and with their jobs or housework. Further, in the 2002 and 2004 General Social Surveys anti-redistributionists were generally more likely to report altruistic behavior. In particular, those who opposed more government redistribution of income were much more likely to donate money to charities, religious organizations, and political candidates. The one sort of altruistic behavior that the redistributionists were more likely to engage in was giving money to a homeless person on the street.

In the United States, segments of the academic community seem to have reversed the relationship between pro-capitalism and income redistribution on the one hand, and racism and intolerance on the other. Those who support capitalism and oppose greater income redistribution tend to be better educated, to have higher family incomes, to be less traditionally racist, and to be less intolerant of unpopular groups. Those who oppose greater redistribution also tend to be more generous in donating to charities and more likely to engage in some other altruistic behavior. The academic assumption that anti-capitalism and opposition to income redistribution reflect an orientation toward social dominance seems unwarranted.

Nuremberg not only dispatched justice swiftly, it also created a historical narrative that has survived. Robert H. Jackson, the chief American prosecutor and the driving force behind the trials, told President Harry S. Truman that he had assembled more than five million pages of evidence. The files of the SS alone needed six freight cars to carry them. Subsequently the tribunal published 11 volumes of documents and 20 volumes devoted to the proceedings alone.

whatever the arguments about justice, “from the point of view of the historian the Nuremberg trials were an absolutely unqualified wonder.” Nuremberg was essential in creating memory and senses of responsibility, in Germany itself and far beyond.

there are no absolute truths; law is argument

I SPENT 18 years in prison for robbery and murder, 14 of them on death row. I’ve been free since 2003, exonerated after evidence covered up by prosecutors surfaced just weeks before my execution date. Those prosecutors were never punished.