Archive for the ‘economics’ Category

Steve Jobs on Flash

In commemoration of Apple surpassing Microsoft in market capitalization last week, here is Steve Jobs on Apple’s choice not to support Flash on the IPad:

–Paul

Lawrence Lessig

Lawrence Lessig earned an MA in philosophy from Cambridge, and a law degree from Yale. He is a founder of Creative Commons. Formerly a professor of law at Stanford, he is currently the director of the Safra Foun­dation Center for Ethics at Harvard.

Dalrymple on Galbraith

‘Theodore Dalrymple’ is the pen-name of Dr. Anthony Daniels, retired British doctor, contributing editor for the City Journal, author, and eloquent conservative obser­ver of contem­po­rary culture. Recently, Daniels was invited to give the annual John Kenneth Galbraith Lecture at Memorial University in Newfoundland. The Galbraith Revival is a reflection on that experience.

Other articles to try include: They dance, I take the dog for a walk, What is Poverty?, What the New Atheists Don’t See, False Apology Syndrome, and All Sex, All the Time. There is a directory of Dalrymple’s City Journal work here.

–Paul

Cap and Trade

It seems to me that cap and trade, as it is currently formulated, is probably a bad idea. Here are some of my concerns:

1) The benefit, as measured by the extent of the decrease in global warming, seems to be negli­gible. According to a recent analysis by Chip Knappenberger, reduction of U.S. CO2 emissions to 83% below 2005 levels by 2050 — which is the goal of the Waxman-Markey bill — would only reduce global temperature by 0.05° C. Even in the highly unlikely event that the entire world were to follow suit and reduce CO2 emissions by the same amount, the resulting reduction in global temper­ature by 2050 would still be less than 0.5° C. — see here. This analysis assumes the IPCC mid-range or high-range emis­sions scenarios; for low-range scenarios the temper­ature change would be even less. Knappenberger uses the so-called MAGICC simulator (the Model for the Assess­ment of Green­house-gas Induced Climate Change) which you can down­load in order to run the calculations for yourself.

(more…)

Spengler

Over the past decade the identity of Spengler, the pseudonymous Asian Times colum­nist, has been the subject of considerable speculation. Last week, Spengler finally revealed himself to be David P. Goldman — classical musician, philo­sopher, conser­va­tive economist, and senior financial officer for Bear Stearns, Credit Suisse, and Bank of America.

Spengler’s columns are dense, oracular, and provocative — it is prudent to ingest them in small quantities. They are remarkably erudite, and show an impressive command of cultural and religious history. Although I might take issue with particular conclusions, the scope and intensity of his thought is invariably bracing.  By his own esti­mate, the Asian Times columns reached a million readers, and the high level of pub­lic interest is evidenced by the 5000 or so registered participants in the Spengler Forum.

Some interesting Spengler essays to try are:

Overcoming ethnicity
Socrates the destroyer
Tolkien’s Ring: When immortality is not enough
Benedict XVI is magnificently right
This almost-chosen, almost-pregnant land

The most recent Spengler column is about the Susan Boyle phe­nomenon.  He says:

Meanwhile, in China, 60 million children are learning Western classi­cal music under the gimlet gaze of strict teachers. East Asian singers, parti­cularly Koreans, are working their way up the ranks of provincial opera companies, and every one of them sings better than Boyle. Who do you think is going to run the world 20 years from now? As the Italians say, we’re bolliti, “boiled”.  Now we can spell it with a “y”.  I hate to always be the one to say this, but the hope is fatuous. No, you can’t.

These talent spectacles, Spengler observes, betray an undercurrent of self-worship; we choose to pay homage to what is like us rather than what is above us.

David Goldman has a new home as associate editor at First Things.

–Paul

Daniel Hannan

Milton Friedman

I was saddened last week to read this article, by another Senator, blaming the current economic crisis on the ‘ideology’ of Milton Friedman. I first read Free to Choose and Capitalism and Freedom when I was in my thirties, and I suspect that I was attracted to Milton Friedman as much by his evident humanity and kindness as by the lucidity of his thought.  Over the years, though, his ideas began to make more and more sense.  It may be that early acquaintance with religious hypocrisy had sensitized me to the recognition of poli­tical and economic hypocrisy — and Friedman was certainly tireless in exposing the latter — but there must also have been some other factor, some influence that led me to place a high value on human freedom.

I think people have to decide for themselves whether freedom is important — there are clearly argu­ments to be made against it.  But here is a brief introduction to one of its greatest advocates:

If you want to see more of Milton Friedman, this site contains videos of his famous PBS series.  

–Paul 

GRE Scores by Discipline

The following chart, taken from econphd.net, is based upon 2002 data and shows GRE scores for various academic fields of graduate study:

Three things strike me about this chart. First, the total scores for the scientific disciplines are consistently higher than those for the humanities and social sciences; second, philosophy has the highest total score of the non-scientific disciplines; and third, the low ranking of education (and public administration) calls into question the seriousness of our culture — and its sustainability.

–Paul

Climate Change Poll

Which of the following most closely reflects your current views on climate change?

View Results

Loading ... Loading ...

–Paul

The Gods of the Copybook Headings

by Rudyard Kipling

I PASS through my incarnations in every age and race,
I make my proper prostrations to the Gods of the Market Place.
Peering through reverent fingers I watch them flourish and fall,
And the Gods of the Copybook Headings, I notice, outlast them all.

We were living in trees when they met us. They showed us each in turn
That Water would certainly wet us, as Fire would certainly burn:
But we found them lacking in Uplift, Vision and Breadth of Mind,
So we left them to teach the Gorillas while we followed the March of Mankind.

We moved as the Spirit listed. They never altered their pace,
Being neither cloud nor wind-borne like the Gods of the Market Place,
But they always caught up with our progress, and presently word would come
That a tribe had been wiped off its icefield, or the lights had gone out in Rome.

With the Hopes that our World is built on they were utterly out of touch,
They denied that the Moon was Stilton; they denied she was even Dutch;
They denied that Wishes were Horses; they denied that a Pig had Wings;
So we worshipped the Gods of the Market Who promised these beautiful things.

When the Cambrian measures were forming, They promised perpetual peace.
They swore, if we gave them our weapons, that the wars of the tribes would cease.
But when we disarmed They sold us and delivered us bound to our foe,
And the Gods of the Copybook Headings said: “Stick to the Devil you know.”

On the first Feminian Sandstones we were promised the Fuller Life
(Which started by loving our neighbour and ended by loving his wife)
Till our women had no more children and the men lost reason and faith,
And the Gods of the Copybook Headings said: “The Wages of Sin is Death.”

In the Carboniferous Epoch we were promised abundance for all,
By robbing selected Peter to pay for collective Paul;
But, though we had plenty of money, there was nothing our money could buy,
And the Gods of the Copybook Headings said: “If you don’t work you die.”

Then the Gods of the Market tumbled, and their smooth-tongued wizards withdrew
And the hearts of the meanest were humbled and began to believe it was true
That All is not Gold that Glitters, and Two and Two make Four
And the Gods of the Copybook Headings limped up to explain it once more.

As it will be in the future, it was at the birth of Man
There are only four things certain since Social Progress began.
That the Dog returns to his Vomit and the Sow returns to her Mire,
And the burnt Fool’s bandaged finger goes wobbling back to the Fire;

And that after this is accomplished, and the brave new world begins
When all men are paid for existing and no man must pay for his sins,
As surely as Water will wet us, as surely as Fire will burn,
The Gods of the Copybook Headings with terror and slaughter return.