From the category archives:

Books

I’m on the final chapter of my long-promised Zombie Economics, dealing with ideas refuted by the Global Financial Crisis. My target this time is privatisation – more precisely, the idea that privatisation will always yield an improvement over public ownership, and, therefore that market liberalism is an advance on the mixed economy that developed in the during the post-1945 long boom.

As always, comments, criticism and suggestions much appreciated.

Updated In response to comments, I’ve added a bit more material on the 1970s and the background to privatisation.

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A mole-hill as high as Tenerife

by Chris Bertram on December 29, 2009

John’s Shakespeare thread, featuring George Scialabba’s somewhat idiosyncratic opinions on the playwright, has reached the point where comments are closed. Not that I specially want to open them. But I was reminded of George’s deployment of Shaw earlier today when reading Hume’s “Of the Standard of Taste”. Here’s Shaw, as quoted by George, seeking in his poets a kind of will to moral improvement:

bq. All that you miss in Shakespeare you find in Bunyan, to whom the true heroic came quite obviously and naturally. The world was to him a more terrible place than it was to Shakespeare; but he saw through it a path at the end of which a man might look not only forward to the Celestial City, but back on his life and say: ‘Tho’ with great difficulty I am got hither, yet now I do not repent me of all the trouble I have been at to arrive where I am. My sword I give to him that shall succeed me in my pilgrimage, and my courage and skill to him that can get them.’ The heart vibrates like a bell to such utterances as this; to turn from it to ‘Out, out, brief candle,’ and ‘The rest is silence,’ and ‘We are such stuff as dreams are made on, and our little life is rounded by a sleep’ is turn from life, strength, resolution, morning air and eternal youth, to the terrors of a drunken nightmare.

And here’s Hume:

bq. Whoever would assert an equality of genius and elegance between OGILBY and MILTON, or BUNYAN and ADDISON, would be thought to defend no less an extravagance, than if he maintained a mole-hill to be as high as TENERIFFE, or a pond as extensive as the ocean. Though there may be found persons, who give preference to the former authors; no one pays attention to such a taste; and we pronounce without scruple the sentiment of these pretended critics to be absurd and ridiculous

Sunnyside by David Glen Gold is the best book I’ve read this year. Gold’s first novel was the magical Carter Beats the Devil, a lean and muscular piece of plotting. Sunnyside is a fat, thumping tome set again in 1920s California and bursting out with living characters, zany but true events and a wry and humane take on the meaning, if any, of the examined life. It had me gasping out loud, talking back to the characters, marveling at the sheer craft but never awakening from the spell.

It begins with a thrilling set piece; a real-life episode of mass hysteria that caused hundreds of simultaneous sightings of Charlie Chaplin across America. This sequence is a first cousin to DeLillo’s Underworld opening baseball game of Giants v Dodgers in Dodger Stadium the Polo Field, and Pynchon’s Against the Day visit to the Chicago World’s Fair. Each of the trio evokes a perfect moment of twentieth century Americana, and announces straight off a big book that will not be about small things. (And just as J. Edgar Hoover is the G-man Greek chorus of Underworld’s themes, Gold’s Treasury Secretary McAdoo stands in for the reader, trying to make sense of Chaplin’s Hollywood and what movies mean for the world.)
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A Christmas Carol and The Chimes

by John Holbo on December 19, 2009

Merry Christmas and a Happy New Year!

Well, not quite yet (you might remonstrate).

But it’s coming up (you must concede). So I’ve undertaken a seasonal graphic project that doesn’t involve Photoshopping squid. I love Dickens, and “A Christmas Carol” isn’t the only good Christmas story he wrote. I also like all the old, original illustrations for his books and stories. But they tend to be printed on cheap paper, and at small sizes. So I have kindly taken the trouble of scanning them in at high resolution, cleaning them up and generally making them easier to see and appreciate in all their glory. Really, a lot of these images are full of fun little details.

For tonight, two tales worth. First, “A Christmas Carol”. Second – I love the wild title page and frontispiece for this one – “The Chimes”. A New Year’s tale, technically speaking. “A Goblin Story of Some Bells that Rang an Old Year Out and a New Year In.” Kind of an odd tale, really. (As one of my fellow Valve bloggers noted last year: the moral is a bit nuts. But I still love it.)

Obviously not just these old images but the stories themselves are very much in the public domain, hence available from lots of sources as well as your local, friendly neighborhood bookstore or library. Discuss!

Hey, did I mention that I (we – Belle and I) published a Plato textbook [amazon]? And that, thanks to me courageously refusing to settle for less, you can read the whole thing free online, even download a complete PDF (print-locked).

Well, I’m mentioning it again because we just got a favorable review for Reason and Persuasion from NDPR, which is very welcome development. “There is no dearth of textbooks offering an introduction to Plato’s thought, but Holbo’s stands apart in the scope of its introductory material and its user-friendly style …” And Belle’s translations get favorable notice as well.

Our book, y’see, contains a larger number of cartoon-y illustrations than your average academic publication, hence risks not getting taken quite seriously, or else getting lumped in with a lot of other cartoon-y illustrated Intros to So-and-So. (That lot are often alright as far as they go, but usually that’s not quite far enough … not for course use.) So I’m happy to read this sort of thing. “One concern I had reading the text with a mind to possibly adopting it for a course is that the introductory material is almost too thorough.”

I’ll take that as a compliment.

Anyway, I am very grateful to NDPR for seeing fit to review the thing, despite its cartooniness; and grateful to the reviewer – Paul Carelli – for taking it straight as well. (Some of my other recent scholarly work is taken less seriously, I fear. Pretty pictures cause small minds to miss a serious message!)

More seasonal, X-Mas posting to follow shortly. (Sorry for light posting. We just moved house.)

Plus ca change

by Maria on December 14, 2009

A new enterprise requires new books, not clothes. As I’ve recently developed an acutely personal interest in all things military, I’ve begun to read about the British army. The process of converting one of my unknown unknowns into a semi-known unknown has been thoroughly enjoyable, and I’ve got a couple of books to recommend. Who will read these books? More people than I would ever have thought.

Dr. Johnson wrote “Every man thinks meanly of himself for never having been to sea nor having been a soldier.” I’m sure every man doesn’t and certainly shouldn’t think that. But I have been surprised to recently discover in most of my male relatives and friends an abiding interest in British military history. Uncles nod knowingly when regiments are name-checked and drop titbits of trivia about their history. Friends in the pub ask seemingly well-informed questions about structural re-organizations. Cousins ably describe the intricacies of rank, something I’d previously had only the vaguest idea about, most of it picked up from Persuasion and Vanity Fair. Now I’m scrambling to catch up.
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Bookblogging: Implications of trickle down

by John Q on December 13, 2009

Another section of my book-in-progress, this time on the implications of trickle-down. I’m getting lots out of the comments, even if I don’t respond to everything, so please keep them coming.

One thing that would be really useful to me is references to publications (probably popular, rather than journal articles) by prominent academic economists that clearly espouse some of the implications of trickle-down discussed here. More than most of the ideas I’m criticising, trickle-down economics tends to be a background assumption rather than something which comes out into the open, and I want to avoid the suggestion that I’m attacking a straw zombie here.
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Mind games

by Michael Bérubé on December 11, 2009

My review of <a href=”http://www.americanscientist.org/bookshelf/pub/the-plays-the-thing”>Brian Boyd’s <i>On the Origin of Stories</i></a> has just appeared in <i>American Scientist</i>.  Though it contains no (overt) references to cap-popping, it does contain an illustration to which I was permitted to write the <a href=”http://www.americanscientist.org/include/popup_fullImage.aspx?key=+e/4LMzhrkg9AVXmk9Tdi91hjcJ9fmPNEfSh2GQCd/802vx+qyeI7rfVqwjbCbXOt9bgoWjmutE=”>caption</a>.  (More specifically, I wrote the first sentence.  The good people at <i>AS</i> enjoyed it but assured me that it would confuse everyone terribly, to which I replied, “cool.”  But we compromised.)

Bookblogging:Trickle down part 1

by John Q on December 11, 2009

I’m pushing hard now to finalise a draft of my book-in-progress,

It’s currently titled Zombie Economics:Undead Ideas that Threaten the World Economy. The title is pretty much locked in, but the subtitle is still open for change if anyone has any suggestions. You can read the first few chapters (not quite an up-to-date draft) at wikidot.

The chapter I’m working on now is Trickle-Down Economics, which seems a fairly soft target after the challenge of presenting a critique of the “micro foundations” approach to macroeconomics. But, there are still plenty of difficulties starting with the point that, of course, no-one espouses Trickle-Down Economics under that name. On the other hand, while the view that pro-rich policies will benefit everyone in the long run is widely held, I don’t know of a good general term that describes it.

Anyway here’s the opening section. As always, comments and criticism much appreciated.

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I like the direction this is going in.

by Michael Bérubé on December 5, 2009

How to follow up a sublime and funky thread that has established four new internet traditions and killed at least two performers of Franz Schubert’s tempestuous piano Sonata No. 21 in B flat (D.960)?

By having <a href=”http://www.mcsweeneys.net/2009/11/20quatro.html”>Catherine and Heathcliff audition for <i>Twilight</i></a>, that’s how.

bq. If sketchy in other regards, _Brother West_ is never anything but expansive on how Cornel West feels about Cornel West. He is deeply committed to his committed-ness, and passionately passionate about being full of passion. Various works of art, literature, music, and philosophy remind West of himself. He finds Augustinian humility to be deeply meaningful. This is mentioned in one sentence. His taste for three-piece suits is full of subtle implications that require a couple of substantial paragraphs to elucidate.

From “Scott’s _IHE_ evisceration”:http://www.insidehighered.com/views/mclemee/mclemee267 of Cornel West’s latest effusion. Recommended.

Update: I want to be finished with this, but probably should “respond to Edward Champion’s pissy little attack”:http://www.edrants.com/scott-mclemee-a-wildly-weak-and-untrained-mind/ on Scott, since I helped launch this snowball down the hill in the first place. The bit about Scott not having published a book is fair enough, as far as it goes (which isn’t very far). But the bit about how Scott is “a man who doesn’t even possess a bachelor’s degree” is not. Academic credentialism is a pretty shitty substitute for argument – and if Champion disagrees and really wants to play that game, he should perhaps cough up a bit more about his own academic accolades and accomplishments for those (like himself) who care about these things. The crack about how:

his crude and lifeless essays have proven so soporific that, in 2004, the National Book Critics Circle awarded him the dubious Nona Balakian Citation for Excellence in Reviewing for his unadventurous pursuits. It was a questionable distinction, enervated by the fact that only a handful of out-of-touch elitists actually care about this dubious accolade

acquires a somewhat different resonance if one knows that Champion ran against Scott to be elected to the board of aforesaid organization – and lost. One can only presume that their failure to elect him by acclaim is Complete and Sufficient Evidence of their out-of-touch-eliteyness.

Champion is a bit of a sad sack – a gnawer-over of scraps of literary carrion disdained by larger predators and snarler at those whom he fears might take them away from him. And furthermore a writer possessed of a wavering and uncertain grasp of the English language (viz. the rummy use of ‘enervated’ in the passage above) and perpetrator of such metaphors as “a superficial conclusion distressingly reminiscent of a teabagger’s uninformed protest.”

Update 2: “Scott responds to the fried chicken nonsense”:http://www.insidehighered.com/views/mclemee/mclemee268 in his new _IHE_ column.

I hereby declare – for the benefit of anyone at Oxford UP who might be reading – that I was going to require my (probably 50-or-so) students next semester to buy your serviceable little paperback volumes: Woolhouse’s The Empiricists and Cottingham’s The Rationalists. I assigned them when I last taught History of Modern Philosophy, a few years back; and it worked out fine. But now that I see they cost $45 each, for a lousy sub-200 page, 7″ x 5″ paperback and pretty cheap paper. What’s that about? Do I really want my students to hate me? (Do I want to hate myself?) I am quite sure they were not this pricey a few years back. There is such a thing as charging too much, given that these books are not actually so good that they cause one’s head to explode with insight into the history of modern philosophy. So I am going to put these particular books on reserve in the library, and recommend them to my students as resources, but I am re-doing my syllabus in protest at absurd pricing. So there. Oxford UP has lost a course adoption – the holy grail of textbook publishing. Let that be a lesson to you.

So: what are some other good secondary texts on the History of Modern Philosophy, suitable for lower level undergraduate teaching? In the past I have not exactly enjoyed teaching History of Modern, because (in my purity and love of the Truth) I chafe at the potted, Clash of the Titans, rationalists-versus-empiricists, with Descartes and Kant standing at the ends, storyline. It’s Hegel’s fault we have this story, and it’s not as though we believe anything else Hegel taught us, so I don’t see why I should have to start now. But seriously … [click to continue…]

Why Did the Modernists Love Sans Serif?

by John Holbo on November 22, 2009

This post is going to have it all: comics, fonts, broadbrush high-lowbrow cultural opinionation, curiously reasonably priced British TV.

We’ll start with fonts. Why did the modernists go ga-ga for sans serif? Take Tschichold, my recent subject of study. Early in his career, he dogmatizes that there is something technically obligatory, inherently suited to the Engineering Age, about sanserif type. What induced him to make such an implausibly strong claim, and induced others to buy it, was somehow a tremendous aesthetic impulse in this direction. This felt so necessary. Human beings aren’t skeptical of arguments that give them exactly what they want, so bad arguments are often most interesting as indices of desire. But what was the Big Deal with filing down all the little pointy bits, all of a sudden? [click to continue…]

Bookblogging: What next for macroeconomics ?

by John Q on November 19, 2009

It’s been slow going, but I’ve finally finished the draft chapter of my book-in-progress that looks forward to a new research program for macroeconomics, an absurdly ambitious task, but one that needs to be tackled. Of course, what I’ve written isn’t fundamentally new – it’s a distillation of points that Old Keynesians, post-Keynesians and some behavioral economists have been putting forward for a while. But I hope I’ve got some positive contribution to make. More than ever, comments are much appreciated.

Update In response to comments, I’ve fairly substantially revised the section on “avoiding stagflation”. While I don’t back away from the points I made previously, I took for granted some things that I’d mentioned in other places in the book. The result made for a fairly unbalanced treatment with an excessive focus on the role of labor militancy. I’ve now tried to put this into proper context. I don’t expect that will satisfy everybody, but this is closer to what I meant to say all along.End update
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Risk Pollution, Market Failure & Social Justice

by John Holbo on November 19, 2009

I just listened to an EconTalk podcast interview with Richard Posner about his new book, A Failure of Capitalism: The Crisis of ’08 and the Descent into Depression [amazon]. The book has gotten a bit of buzz for the way in which Posner semi-recants certain libertarian or Chicago-style economics positions he is known for. But certain other positions he has not recanted, such as his narrow view of economic actors’ duties to consider negative externalities of their activities (discussed at CT before here and here). In the podcast, Posner basically asserts that those actors in the financial sector who almost crashed the world economy were right to do so, in the sense that it was rational for them, individually, to be massive ‘risk polluters’ (to coin a phrase someone else has probably coined already.) He would probably go further, although he isn’t actually asked to in the podcast: some of these actors were obliged to take the risk. In at least some cases it would have been their strong, positive fiduciary duty, under the circumstances, to do something which – taking a larger view – seriously threatened to run the whole world economy off a cliff. Because that was the apparent route of profit-maximization. It was their job not to take the larger view. Posner blames regulators, not these profit-maximizing actors, for the market failure; for not seeing that the damage to everyone downwind of all that toxic risk was so great that it should not have been permitted. [click to continue…]