Books

I almost never make New Year’s resolutions, but I did in January 2019: read a book a week for 2019. This weekend I finished my reading challenge with Jose Antonio Vargas’s Dear America: Notes of an Undocumented Citizen (I recommend it!). While book reading has always been a part of my life, as an academic who reads a lot for work (mostly in journal article form), book reading for fun hasn’t always fit in. I wanted it to be more prominent in my everydays and I’m glad that I achieved that. I only counted books that I read from cover to cover, there are certainly others I browsed and read parts of, but they didn’t count for my challenge. I included very different genres as my interests are eclectic, but the most prominent was memoirs and biographies (I am not a huge fiction fan so there were only a few of those on my list). Here, I want to share my top three overall favorites; another three that you are unlikely to have heard of, but that I found very much worth reading; three that were the most disappointing; and three art books I enjoyed. While I have an insane “would like to read” list already, I very much welcome your recommendations for 2020 (when I’ll even have a semester of sabbatical in the Fall so I definitely plan to get at least as much reading in).

Overall top 3

Madame Fourcade’s Secret War by Lynne Olson – A fascinating story told in an incredibly engaging manner about the young woman, Marie-Madeleine Fourcade, who led the largest French resistance network during WWII. This book is now among my all-time favorite books.

Educated by Tara Westover – You’ve probably heard of this book, it’s been very popular, and deservedly so. The author was raised in a very religious family in Idaho that did not believe in public education. The family dynamics are insane and intense. It’s often a tougher read than I expected due to the difficulties she faced beyond what you may imagine going in.

Evicted by Matthew Desmond – Based on the author’s sociology dissertation, this is an important story about major housing challenges in poor urban America. The research is first-rate, the writing excellent. (If I want to get academic, I’ll note my one critique: a lack of discussion of what role digital media may have played in people’s lives. The absense of this in the book is jarring to someone like me who studies the use of information technologies. Jeff Lane’s the Digital Street addresses that angle as does the work of Will Marler, a graduate student at Northwestern whose dissertation I am advising, but not specifically about housing challenges. I would have liked to see some of this in Evicted.) An refreshing aspect of the book is that it offers concrete policy recommendations at the end.

Top 3 you probably haven’t heard of
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Another review of Economics in Two Lessons has come out. It’s by David Henderson and appears in Regulation, published by the Cato Institute (link to PDF). There’s a blog post with extracts here.

Unsurprisingly, given the source, it’s mainly critical of the analysis, but still has some kind words about the book. This para gives the flavour

Quiggin is a good writer who lays out much of the economics well. His analysis of rent control and price controls in general is a thing of beauty. Along the way, though, he makes small and big mistakes. He also shows by omission that the book, to be complete, badly needs a third lesson, on why government works so badly even when it intervenes in cases where markets work badly.

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[Caragh Lake: the epicenter of the future]

In 1959 the famous British astronomer Fred Hoyle published his novel, Ossian’s Ride. It was the wildest science fiction, depicting a future Ireland miraculously transformed into a technological superpower. Vast highways crisscrossed the Irish countryside. The discovery of cheap contraception (manufactured from turf) broke the control of the Catholic church. A shining new city, organized around the principles of scientific discovery, was constructed on the shores of Caragh Lake in County Kerry. Britain was left on the sidelines, wondering what had happened.
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Freeman testified at trial that Abrahams was trying to stop him and Willingham from fighting, and that she hit Willingham in the face. Willingham, Freeman testified, then raised his hand as if he was going to hit Abrahams, but then lowered it to his waist, which prompted Freeman to believe he had a gun. Freeman shot Willingham three times, according to police.

-Detroit Free Press June 20, 2019

America is very good at some things and very bad at others.  We produce a steady flow of scientific, cultural, and engineering successes– in the past five years we can lay claim to a drug that cures hepatitis C, Hamilton: The Musical, and self-driving cars.  And yet, we perform just this side of miserable at addressing core social and economic challenges.  We are among the world’s leaders in income inequality, obesity rates, drug overdose deaths, and per capita greenhouse gas emissions.  And, we rank first, that is worst, in the proportion of citizens in jail at about seven people per thousand.  Even more troubling, blacks are six times as likely as whites to be behind bars. [click to continue…]

[being a review of Alex Hertel-Fernandez’ State Capture: How Conservative Activists, Big Businesses, and Wealthy Donors Reshaped the American States ,“ and the Nation – cross posted from HistPhil]

 

A couple of months ago, Yvonne Wingett Sanchez and Rob O’Dell wrote a long journalistic article on the influence of ALEC, the right-wing American Legislative Exchange Council, on legislation in U.S. states. ALEC has had enormous influence on state legislatures by providing model bills and courting lawmakers. O’Dell suggested on Twitter that this marked “the first time anyone has been able to concretely say how much legislation is written by special interests.” This … wasn’t exactly accurate. Columbia University political science professor Alex Hertel-Fernandez, who is briefly quoted in the piece, had recently published his book State Capture: How Conservative Activists, Big Businesses, and Wealthy Donors Reshaped the American States,” and the Nation, which applied similar data to similar effect.

It was a real pity that the book didn’t get the credit it deserved, and not just for the obvious reasons. While the article was good, it focused on describing the outcomes of ALEC’s influence. The book does this but much more besides. It provides a detailed and sophisticated understanding of how ALEC has come to have influence throughout the U.S., how it is integrated with other conservative organizations, and how progressives might best respond to its success.

It’s a great book – crisply written, straightforward, and enormously important. It is energetic and useful because it is based on real and careful research. Hertel-Fernandezâ’s politics are obviously and frankly on the left. But even though his analysis starts from his political goals, it isn’t blinded by them so as to distort the facts.

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I’ve been busy for the last week doing events for Economics in Two Lessons, so I didn’t have time to take part in the discussion arising from Harry’s post on alternatives to Sanders’ proposal to wipe out college debt.

In one way, that’s a pity because the key point of the book is the idea of opportunity cost – the true cost of anything, for us as individuals, and for society as a whole, is what you must give up to get it. More precisely, it’s the best alternative available to us.

Harry’s post was all about opportunity cost – what would be the best use of $1.6 trillion in public funds. However, the discussion was inevitably enmeshed in the complexities and inequities of US education, while comments making broader arguments about opportunity cost reasoning weren’t discussed in detail.

One of those broader arguments is the idea that, thanks to Modern Monetary Theory, there’s no need to worry about such questions. In the “chartalist” reasoning underlyng MMT, the fact that governments can issue their own sovereign currency means that there is no need to “finance” public spending by taxation; rather taxation is a tool used to manage aggregate demand so as to keep the economy fully employed but not at a point where excess demand creates inflation. That (essentially correct) position can easily slide into the (only subtly different, but radically mistaken) view that governments can spend money on anything they like with no need for any increases in taxes or cuts in other spending.

As I will argue over the fold, a correct version of MMT makes no such claim. Unfortunately, while avoiding the error themselves, a lot of MMT theorists have not shown much willingness to set their more naive followers straight.

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April 23 was the official release day for Economics in Two Lessons. The book is now out in Australia as well Economics In Two Lessonsis now available in Australia from Footprint books. It’s nearly eight years since I started work on the book. I think it’s been worth the wait. The painful process has produced something better than I originally planned, with plenty of help from commenters here and elsewhere.

According to Amazon, the book is often bought along with Crashed, by Adam Tooze, which is great company to be in.

[Begin plug] If you’ve read and liked the book as it appeared here, this would be a great time to contribute a quick review [End plug]

One of the great authors of our time

<blockquote>The past stood at my shoulder, naked and defenseless as all dead things, as though it were time itself that had been laid open by the fall of the mountain. Fossil bones protruded from the surface in places, the bones of mighty animals and of men. The forest had set its own dead there as well, stumps and limbs that time had turned to stone, so that I wondered as I descended, if it might not be that Urth is not, as we assume, older than her daughters the trees, and imagined them growing in the emptiness before the face of the sun, tree clinging to tree with tangled roots and interlacing twigs until at last their accumulation became our Urth, and they only the nap of her garment.

Deeper than these lay the buildings and mechanisms of humanity. (And it may be that those of other races lay there as well, for several of the stories in the brown book I carried seemed to imply that colonies once existed here of those beings whom we call the cacogens, though they are in fact of myriad races, each as distinct as our own.) I saw metals there that were green and blue in the same sense that copper is said to be red or silver white, colored metals so curiously wrought that I could not be certain whether their shapes had been intended as works of art or as parts for strange machines, and it may be indeed that among some of those unfathomable peoples there is no distinction.

At one point, only slightly less than halfway down, the line of the fault had coincided with the tiled wall of some great building, so that the windy path I trod slashed across it. What the design was those tiles traced, I never knew; as I descended the cliff I was too near to see it, and when I reached the base at last it was too high for me to discern, lost in the shifting mists of the falling river. Yet as I walked, I saw it as an insect may be said to see the face in a portrait over whose surface it creeps. The tiles were of many shapes, though they fit together so closely, and at first I thought them representations of birds, lizards, fish and suchlike creatures, all interlocked in the grip of life. Now I feel that this was not so, that they were instead the shapes of a geometry I failed to comprehend, diagrams so complex that the living forms seemed to appear in them as the forms of actual animals appear from the intricate geometries of complex molecules.</blockquote>

Two big pieces of news for me today. This morning I got the first physical copy of my book Economics in Two Lessons.

Then, I got the news that, for the first time in my career, I’ve had an article accepted in Econometrica, the top theoretical journal in economics. It’s full of arcane maths, drawing heavily on the expertise of my co-author Ani Guerdjikova, but the key implication is simple. If people aren’t equally good at predicting movements in asset prices, restrictions on the set of assets available to them may improve economic welfare. This undermines the general presumption that financial deregulation will be beneficial.

All in all, a good day!

Today is a big day for some of us. Linda Nagata’s follow-up to the Nanotech Succession books, Edges is coming out. The third book in that previous series, Vast, is one of the great unrecognized SF classics of the last twenty years.

In _Trillion Year Spree_, Brian Aldiss suggests that one of the wellsprings of science fiction was the Victorians’ discovery that human beings were not at the center of the universe, were at most a temporary florescence in a process of evolution that had continued for billions of years before, and might continue for billions of years after. He describes the sense of radical alienation that this provoked, quoting a passage from one of Thomas Hardy’s novels where a character discovers a fossil in a cliff. This describes how humans, for the first time, really had to think about the age of things and their own cosmic unimportance. This perspective of deep time has been an important engine of science fiction ever since. Olaf Stapledon’s work provides one version. H.P. Lovecraft’s another (but that perspective is far more skilfully developed by Caitlin Kiernan, who is a paleontologist as well as writer)

Robert Charles Wilson’s Hugo winning novel, _Spin_ provides a famous take on what happens when human beings are forced to confront cosmological time. _Vast_  provides another, and in my opinion, even better one. Her characters have wandered out into a galaxy that is a battlefield from a civil war that ended thirty million years ago, still littered with weapons that are half-plague half-social contagion and vast autonomous spaceships, guided by colonies of “philosopher cells” that operate like cellular automata turned lethal. The human longing for transcendence becomes a trap that can enfold even those who are aware of its dangers in its sticky embrace. As one of the key characters reflects in a previous novel, looking at an insect that has wandered into his collection of carnivorous plants.

<blockquote>Lot wondered if the fly would have followed the sundew’s sweet scent if it could have comprehended the danger ahead of time. And he decided that it probably would have. Consciousness did not negate instinct. It only provided a post for self-observation.</blockquote>

Much current science fiction is sentimental, using a cold universe as mere backdrop for heartwarming stories about people with difficult backgrounds making new families for themselves. _Vast_, in contrast, isn’t even slightly sentimental, though it is  about family – unorthodox family, whose members often don’t particularly understand each other, and grow further apart as they speciate. The lesson that _Vast_ has – if it has a lesson, any more than the universe has one – is the need to adapt and change.

I don’t want to say any more, for fear of spoilers, except to recommend that you read it, if you at all think that you might want to. It deserves to be rediscovered, and folded back into the main story of science fiction, rather than merely serving as a well of hidden inspiration. It’s the third in a series, but I read it before the other two, and found that the additional sense of alienation and _in media res_ enhanced the story rather than detracting from it. Alastair Reynolds, whose books are deeply influenced by it, had the same experience. You can then dive into the earlier books as an excavation of the prehistory.

I’ve spent the last few weeks reading _Vast_ and its prequels in preparation for the new book’s launch. Twenty years later, the rest of the field has still to catch up with it.

 

I’ve just published a piece in Aeon (an excellent and free online magazine) drawing on the analysis in my (about to be published) book Economics in Two Lessons. I make the case that carbon pricing, whether through a tax of an emissions trading scheme, is the most cost-effective way to stabilize the global climate. Moreover, it’s straightforward to offset any adverse effects on low-income earners, displaced workers and others.

That raises the obvious question: if carbon pricing is so good, why is it so hard to implement, compared to less efficient alternatives like mandatory renewable targets. One factor, which I discuss, is that the creation of property rights over previously open-access resources creates obvious, and often powerful losers.

I was limited by space, so I couldn’t discuss the more puzzling problem of why regulations are more politically salable than prices even in the absence of income effects.

Today I conclude my reflections on Art Young, occasioned by the great new book about him [amazon associates link]. For those disinclined to purchase, I found a copy of one of his books, On My Way (1928), in free PDF form. (Doc announces itself as legal. No copyright renewal, so it seems.) Anyway, in honor of my earlier, literary maps post: say! the endpapers make a swell map!

But the Art path I shall trace in this post is not from Monroe, WI, to Bethel, Conn. A few years back I published a survey article on ‘caricature and comics‘. On the one hand, caricature is a minor art form – not necessarily low but distinctly niche. Funny line drawings of celebrities. On the other hand, formally, caricature is very old and very broad. This produces categorial dissonance. Caricature techniques are at the root of styles we don’t think of as caricature. This is the main thesis of Gombrich’s Art and Illusion, by the by. (No one seems to have noticed, but it’s true.)

In that essay I make some points with reference to the case of caricaturist-turned-Expressionist, Lyonel Feininger, but I could have used Art Young.

But let me start at the beginning, regarding Young. I like reading stories of youthful artistic influence, so here is his, pieced together from the new book and other sources. [click to continue…]

I don’t have time for a full appreciation of Art Young today, but I’ll re-recommend the new Fantagraphics book about him [amazon associates link] and advance one art historical thesis: Young was a significant influence on the style of Dr. Seuss. I have never seen this point made before. I didn’t realize it myself until a week ago. As an avid, amateur Seussologist, and student of lines of graphic influence in American cartoon art in the early 20th Century, I’m interested to see it. [click to continue…]

Our Corey is in The New Yorker! I was going to boost it for him but he got to it first.

But I’ll do it anyway.

The political convert was the poster child of the Cold War. The leading ideologues of the struggle against Communism weren’t ancient mariners of the right or liberal mandarins of the center. They were fugitives from the left. Max Eastman, Arthur Koestler, Whittaker Chambers, Sidney Hook, James Burnham, and Ignazio Silone—all these individuals, and others, too, had once been members or fellow-travellers of the Communist Party. Eventually, they changed course. More than gifted writers or tools of Western power, they understood what Edmund Burke understood when he launched his struggle against the French Revolution. “To destroy that enemy,” Burke wrote of the Jacobins, “the force opposed to it should be made to bear some analogy and resemblance to the force and spirit which that system exerts.”

Corey’s puzzle, per the subtitle: “defectors from the left have often given the right a spark and depth. Why doesn’t it work the other way around?”

We’ll get to that. But first I would like to report a coincidence. I’ve just been brushing up on Max Eastman myself. (Here’s a good Dissent piece, in case you need a refresher or introduction.) That’s because I’ve been reading about a different forgotten figure — the great cartoonist Art Young! Young is the subject of a new Fantagraphics books that is absolutely tops, and if you are the sort of person who might be remotely interested in anything of the sort, you should get it. It is To Laugh That We May Not Weep: The Life and Art of Art Young [publisher]. The Kindle version is cheap on Amazon [amazon associates link]. I don’t know how long that happy condition will last. If you don’t wanna pay, this site is pretty ok, too. The thing is: the new book contains lots of high quality reproductions of the original art, rather than just scans of the poorly printed originally published versions. The original art, properly reproduced, just pops to an incredible degree. The crosshatching. I’m in awe. Tomorrow or the next day I’m going to try to work up an appreciation of Young’s art. He was a pen and ink master. Just look at this nice stuff!

But politics. First, politics. [click to continue…]