I’m going to play economic imperialist and declare that epidemiology is partly within the domain of economics. I’m not sure how big the overlap is, but certainly there are economic questions that bear epidemiological type modeling. The movement of ideas is, in the long run, as important as the movement of a virus is in the short run. In any event, economists should be using this sort of methodology more often.
Ron Paul’s Revolution: A libertarian education
The Mises Institute, lewrockwell.com, and FFF all had cool articles mixed in with some not so cool stuff, and I stuck with these sites for a while after opening the floodgates. The fact that these sites are more combative, more dogmatic than other libertarian organizations probably played a role in my reluctance to branch out too far into other spheres of influence. I was a product of the public school system and a relatively strict religious upbringing and, as a result, my mind was mush. The combativeness spoke to me. It seized me in its grasp and led me forcefully down a path I knew I needed to take. This personal intellectual journey was complemented by my foray into formal education. My professors, too, were combative but not in the same way as the paleo-libertarian websites I would frequent. They pushed me, hard. The cool thing about Cabrillo College was a combination of the weather, the girls (me and the Banana Slug broke up shortly after our arrival in Santa Cruz), the PhDs teaching there, and the fact that most of the classes shrunk in size to about 12 people (more or less) in a matter of weeks. I was getting a first-rate education from great teachers who happened to be married to the California Teachers’ Union. After one semester at Cabrillo College, I was reluctantly ushered into its fairly challenging Honors program, where a transfer to Cal or maybe even Stanford was all but guaranteed.
My go-to websites began to change. The Independent Institute, where Anthony Gregory was officially employed, and Liberty, which published occasional essays by a French-American scholar who happened to live in Santa Cruz, became more influential. FEE’s smorgasbord of scholars overwhelmed me with libertarianism. Cato’s devout, firebrand non-interventionism emboldened my heart. EconLog and Cafe Hayek were too wishy-washy for me at the time. They had no oopmf. Reason was cool but it was too bubbly, too pop-culture for me. Tyler Cowen’s name began to pop up in places. I also came across Peter Boettke and Steve Horwitz via a brutal intralibertarian squabble at the Mises Institute’s website. These were scholars I earmarked as possible sources of knowledge, but their blogs were too informal for me. They reminded me of my college classes, and I already had enough of those on my plate as it was. I wanted – needed – my libertarianism to be sure of itself, formal, and able to reinforce my thoughts about the world at large. Just like Ron Paul.
I decided to spend the summer of 2009 traveling not around Europe or Ghana, but around the United States in order to attend seminars that various libertarian foundations put on for undergraduate students.
I attended four seminars that summer. The first one was up the road from Santa Cruz in Oakland at the Independent Institute. It was a strange way to be introduced into the world of formal libertarianism. First, they had no idea I was coming. I had signed up for the seminar, and I remember paying for it because I had found out that the Independent Institute offered seminars during the summer long after I had already bought my plane tickets for the other three, so I bummed the money from my dad in order to squeeze in a week at my favorite libertarian think tank. Mary and David Theroux were nonetheless ecstatic to have me there and offered to waive the fee. I politely declined their offer and paid up on the spot. (I was a libertarian now and not some freeloading socialist.) My situation was probably helped by the fact that there were only 4 or 5 other students attending the seminar, and most of them were high school students forced to attend for an assortment of reasons.
I was especially excited about the lineup of scholars the institute had cobbled together. Robert Higgs could not be there (I would see him later, at different seminar), but Anthony Gregory and Fred Foldvary would both be there, as would three guys I had never heard of before: Brian Gothberg, James Ahiakpor, and José Maria J. Yulo.
The two things that brought me into libertarianism was its non-interventionist foreign policy and its internationalist worldview. I have always been attracted to other ways of life, and Ron Paul’s 2008-2009 campaign perfectly encapsulated these two attractive -isms. That James Ahiakpor, an economist from Ghana, and José Maria J. Yulo, a philosopher from the Philippines, were to be teaching me about libertarianism, in person, was perfect. Ahiakpor lectured on Adam Smith, and Yulo on Plato, two dead white guys whose thoughts I had never been introduced to before (though I knew both of their names). Ahiakpor’s lectures were actually a bit of a dud. He was not able to fathom, or entertain, the notion of an economy without a central bank. He appealed to Adam Smith on the matter, and that was that. Dr Yulo’s lectures were quite different. They were rich and socratic. They were peppered with personal anecdotes, both funny and serious. They were conservative, too. Dr. Yulo’s lectures eviscerated my aversion to conservatism. He made conservatives human and worthy of my time and attention. Anthony was Anthony and Fred was Fred. The star of the seminar was undoubtedly Brian Gothberg.
Gothberg’s passion for liberty oozed out into the makeshift classroom (this makeshift classroom was one of the many charms connected with attending the institute’s seminar). Gothberg had been a California liberal, a technocrat rather than a socialist like me, and his intellectual journey sounded, to me at the time, a lot like my own. He used basic economic reasoning to show how prices could help save the environment, and how the Robber Barons captured their rents. Most of all Gothberg used every opportunity he could to engage me personally. I am an introvert and I just showed up on the institute’s doorstep with apparently no heads up. Brian went out of his way to make me feel welcome, to help me voice my thoughts aloud, and to get to know me.
I spent my nights in San Francisco that week, sleeping on my best friend’s couch. I brought him all of the books I would receive from the seminar. My friend and I marched together in San Francisco. He was attending San Francisco State at the time. We had heated but mostly civil discussions about liberty and American politics. He and I went to the same schools in the same town. We both had the same worldview of civics up until Ron Paul crashed the party. Looking back, those discussions represented the flowering of our intellectual capacity to think for ourselves. We were teasing out ideas and confronting stark intellectual challenges to our conceptions of the world. The books I gave him ended up in his garbage can. When I was again sleeping on his couch, in Austin, in 2016, he had voted for Gary Johnson. (During those hot summer nights in Austin, we both revealed what turned out to be a shared disgust in our fellow anti-war protestors. Those people were not marching in San Francisco to protest the invasion and subsequent occupation of Iraq; they were marching against the Republican Party and, by extension, democratic politics.)
Next up were two of FEE’s venerated seminars, one in Midland, Michigan and the other in Irvington-on-Hudson, New York. The Midland seminar, located at Northwood University, was a breath of fresh air. The topic of the seminar was “History & Liberty,” and lecturers included Lawrence Reed, Robert Higgs, Brad Birzer, Burton Folsom Jr., and Stephen Davies. Unlike the seminar in Oakland, this one was well-organized and well-funded. I was put up in a dorm and all of my meals were comped. These were also well-attended seminars. I met people from all over the world, though Midwestern Americans formed a slight majority. My roommate was none other than Vincent Geloso, 2017’s hottest libertarian blogger. In 2009, though, Vincent was already something of a star. A Quebecer, Geloso spent his free time either trying to get into the pants of an outgoing Guatemalan student whose name escapes me or watching Star Trek reruns on his laptop. He organized a boycott of Robert Higgs’ remaining lectures for the week after Dr. Higgs haughtily suggested that World War II was not worth the effort. Vincent also praised Paul Krugman’s academic work while bemoaning his blog at the New York Times, something I was not yet accustomed to libertarians doing. At Mises and FFF (and at the lectures of these summer seminars), Krugman was nothing more than a punching bag, not somebody you could learn from.
Burton Folsom made everybody laugh, and Larry Reed made everybody feel good. Stephen Davies lectured on Paraguay, and its lessons have stuck with me over the years, but Brad Birzer’s intelligence and loquaciousness impressed me the most. Brad Birzer loves history. There are two events I remember most clearly about that first FEE seminar in humid Midland, Michigan. First: I remember seeing Sheldon Richman at a table by himself eating breakfast and reading at the same time. The man lived and breathed liberty. I remember thinking to myself (I dared not interrupt his breakfast) that he was probably reading some obscure work of Böhm-Bawerk or something. Second, I was dropped off at the airport a full day before my flight was scheduled. I tried to find a field to sleep in, but was instead picked up on the side of some god forsaken road by an airport employee on her way home, and she let me meet her family, dine with them, and crash on her couch for the night.
The Irvington-on-Hudson seminar was an introductory course on “Austrian economics.” I don’t remember much about the lectures. Lawrence Reed was there again. He told different stories than the ones he told in Midland, and they were equally good. Sheldon Richman lectured, too. An economist named Paul Cwik lectured. He was funny, but unremarkable. I don’t think I learned anything new at this seminar.
There was an Asian girl from Stanford, an economics major, who attended the seminar. She stood out because she was a she, she was Asian, and she attended an elite school. I remember her asking Sheldon Richman, after one of his forgettable lectures, a question about economics and him becoming flustered by the questions. The Asian girl actually put up her hands at one point and said “woah.” She backed away slowly and I never heard from her again. This seminar had less Midwestern Americans in it. There were more Europeans. I don’t remember who my roommate was at Irvington-on-Hudson but I do remember going to the city not once but twice. The first time I went with a Dane and a Swede, both of whom were business students. The Empire State Building blew them away. I went a second time to the city with two Italians, brothers Claudio and Adriano Gulisano. The brothers stayed out late and pretended to enjoy the nightlife. I could see in their eyes, though, that NY’s nightlife was a perfunctory for them; a duty to be performed as a European in the United States. The Brothers Gulisano were, and are, brooding individualists concerned only with the next move of their enemy (the state), and NY’s shallow nightlife rudely illuminated the chains of their social obligations.
The highlight of the Austrian Economics seminar was not the old FEE building or New York, but Lode Cossaer, a Belgian libertarian whose passion for liberty was unlike anything I had ever seen before. He freely gave the Americans history lessons about their own country. He told the Eastern Europeans to beware of clever authoritarian traps nestled in their Hoppeanism. He explained to the Guatemalans why their university, Francisco Marroquin, was such an important institution for global liberty. Cossaer did all of these things with the worst haircut in the world, too. (He had one of those little boy bowlcuts that just makes you want to puke when you see a grown man sporting it.)
The final seminar of that eventful summer brought me, full circle, back to northern California. The Institute for Humane Studies was an institute I hadn’t heard much about. There wasn’t a lot of writing on its website, but it was obviously libertarian and the seminar had some great topics (I think it was “liberty & economic development” or something along those lines). I had to write an essay and wait around to be rejected or accepted. The seminar was at Cal, a school I still didn’t think I could ever get in to. IHS set itself apart from FEE and the Independent Institute before the summer even started.
The students were different, too. Elite research universities and expensive liberal arts colleges adorned most of the nametags. The majority of the students were from the eastern seaboard or the upper South. There were more Californians; two attended Cal, one attended UCSD (and whose boyfriend was from my hometown), and Rick Weber, my favorite economist-blogger. The lecturers had no public presence that I was aware of, except for one of them, who was officially was part of the Coordination Problem group blog but hardly ever wrote anything there. The IHS seminar had more of a university feel to it, overall, while the other three had more of a Fellowship of the Rings vibe to them. There were more leftists and fewer foreigners. My roommate was an older undergraduate who was attending Georgetown. He had just gotten out of the Navy. The lecturers included an anthropologist, two economists – one from France and one from the United States – and a philosopher.
The economists were forgettable, except for the French one’s contempt for his home country, but the anthropologist and the philosopher were excellent. Susan Love Brown lectured on planned societies and their many failures, and Andrew I. Cohen actually brought leftists to tears with his rigorous logic. So defeated were these leftists that they had no recourse other than to do what their mommies and daddies had taught them to do: cry about it. This was a phenomenon that I had never witnessed before.
The lecturers and the students would party together after dinner. At one point the organizers, the 24 year-olds responsible for overseeing the day-to-day affairs of the seminar, asked us as a group to be aware of the fact that a big-time donor would be at one of the lectures for half of the day. Many of the non-Californian students, as well as the lecturing American economist, ignored me once they learned that Cabrillo College was a community college rather than an obscure liberal arts college in the redwoods. Dr. Cohen reached out to me, as did Dr. Brown, but the overall atmosphere kept the vibe bittersweet. IHS at Cal was nothing like FEE or the Independent Institute in Oakland.
Altogether, the IHS experience was more rewarding precisely because it was more alarming. Berkeley taught me that libertarian people as well as libertarian organizations are fallible, something that I think FEE and the Independent Institute tried to ignore or gloss over. There are careerists in the libertarian movement. There’s an entire cottage industry dedicated to professionalizing libertarian thought, strategy, and outreach. I tried to hitch a ride with one of the Cal students up to Sacramento, where I could take a bus to Placerville, but he didn’t have any room in his car. I took a train instead, from Berkeley to Sacramento, and a bus from Sacramento to Placerville. I spent the next two weeks on my mom’s couch, and then it was back to Santa Cruz for the fall.
Next: from Santa Cruz to Los Angeles
Nightcap
- Ottoman bird palaces Atlas Obscura
- Ottomanism, Nationalism, Republicanism (the 1960s) Barry Stocker, NOL
- Liberalism and sovereignty Edwin van de Haar, NOL
- Why not world government? Michaelangelo Landgrave, NOL
Nightcap
- The challenges of lending to Main Street George Selgin, Alt-M
- What Sweden has done right on Coronavirus Joakim Book, AEIR
- The State Has Seized Many New Powers. It Won’t Let Go of Them Easily. Andrei Znamenski, Mises Wire
- When disease comes, rulers grab power Anne Applebaum, Atlantic
Ron Paul’s Revolution: Looking back
On January 20, 2009, Barack Obama was sworn in as President of the United States. It was a historic moment. The United States of America had elected its first black President. I remember listening to the president’s inaugural speech on the radio. (I was driving from the Lake Tahoe area to Santa Cruz, officially moving to the Monterey Bay along with my girlfriend at the time, who had been accepted into UC Santa Cruz while we were in Ghana.) I got chills that ran down my spine. My nipples got hard. The hair on my arm stood up, revealing goosebumps.
I had enough respect for the republic’s history to know that I was listening to one of its greatest triumphs. A member of an ethnic minority, and a group that had been viciously oppressed at that, had been elected to the republic’s highest-ranking democratic office. American society was evolving in a way that made me proud. It was cool, but my elation was tampered due to a different evolution that was going on in my own way of thinking. My thoughts about how societies worked had been radically altered thanks to the presidential candidacy of a little-known Republican Congressman from Texas: Ron Paul.
I came across Ron Paul via YouTube videos that had been shared on MySpace. I was a product of the California public school system. The public school system has two tiers: a good one for rich people and an awful one for the rest of us. I came from a single parent household. My mother had a college degree and was part of the California public school system, but we were still in the “poor” category. In California’s public schools, a binary way of thinking about civics is introduced and hammered home from the age of 5 to the age of 18. Democrats are liberals who prefer higher taxes, listen to scientists, and believe in change, while Republicans are conservatives who prefer lower taxes, listen to Protestant ministers, and believe in maintaining the status quo. This is not a caricature. I believe this is how most Americans viewed civics up until the moment Ron Paul arrived on the national scene via his back-and-forth with Rudy Guilliani.
In short, I was uneducated but enthusiastic about reading and especially history. I had no career at that point in time (I was an informal carpenter’s apprentice from March through November, and a sandwich maker during the rainy holiday season). I became obsessed with Ron Paul videos online. I watched them over and over. I had never heard arguments like his before. I had no idea that you could be a Republican and be against wars on terrorism and drugs. I had no idea Democrats could be so “pragmatic” when it came to these wars. I watched Ron Paul over and over again. Instead of trying to soundbyte his message, he spoke of responsibility and hard money and corporations taking advantage of regulations to enrich themselves at the expense of everybody else. Never had I heard such ideas before!
I was slow to follow up on his reading suggestions, though. I went almost immediately to the websites of Lew Rockwell and the Mises Institute but what I found there was too radical for me. It was too straightforward. They were speaking of things that I considered, due to my public schooling and religious background, to be taboo. There was a hint of racism in some of the articles I saw at these sights. Perhaps because of the cruddy schooling I got in California, I was at the time of Ron Paul’s revolution a left-wing conspiracist of sorts. I marched against the invasion of Iraq in San Francisco. I marched in 2003 and 2004, when opposition was its zenith. I shared Immortal Technique’s music videos on MySpace (you know the ones). I proudly spouted socialist views online and at parties. Republicans were conservatives, and therefore racists and religious bigots. The whole of the American Right was thus unfit for my company.
Yet, slowly and surely, I kept visiting these two sites. The site I visited most often, though, was Campaign for Liberty, run by Anthony Gregory. It served as Ron Paul’s official campaign website and continued to drum up support and solidarity months after Obama had already been sworn into office. The authors on this site kept imploring me to check out this ‘n’ that from the Mises Institute or lewrockwell.com or Jacob Hornberger’s Future of Freedom Foundation. It was a long, slow process. Some of the things said on these sites never sat well with me. Yet, there were also articles on Native American reservations, anti-war movements in the American past, how property rights could save the environment, and how to bring down big corporations.
I gave in. Once the intellectual floodgates were opened, I found FEE, the Independent Institute, Cato, Reason, Cafe Hayek, EconLog, and Liberty. I read libertarian thought every day. I checked Campaign for Liberty when I woke up. During this time I decided to enroll in college. I enrolled at Cabrillo College near Santa Cruz. Cabrillo is located on the beach. It attracts PhDs. My professors there had doctorates from schools like Columbia, Cal and UCLA, UC San Diego, Washington University in Saint Louis, and a plethora of other good second-tier public universities. Ron Paul inspired me to learn, to think for myself.
Next: A libertarian’s education
Be Our Guest: “Those Astonishing Reversals on the Political Left”
Jack Curtis is back:
The Democrats stood firm for Catholics and Jews while the Protestants who ran things tended to minimize or exclude them; today their Obamacare forces the Catholic Little Sisters of the Poor to fund abortions while Barack Obama was called the most anti–Israel president in America’s history. Regardless, a substantial majority of Catholics and Jews reliably continue to vote for Democratic candidates. Perhaps that’s a clue to the historically temporary nature of democracy?
Read the rest of his “Be Our Guest” article. I’ll be waiting patiently for someone (including Jack, if he;s up for it), to give the same treatment to Republicans. By all means, Be Our Guest.
Crisis, governments and the micro-macro conundrum
Layoffs and salary cuts are individual firm responses to a crisis that may make sense from a micro perspective- it is about saving money – but they will have dire consequences on the macro level.
I lived through this in Greece. Ten years ago, every firm was expecting the worst to come from the memorandum. They started making people redundant, pulling out from planned investment and cutting salaries. Unemployment went up, demand collapsed, public revenue went down, more austerity measures were needed and the downward spiral deepened. The country ended up losing one third of its economy in just four years.
Will it now be Greece on steroids everywhere?
The side effects of myriads of micro adaptations appear on the macro level. This is a key problem for economics and is particularly challenging for Austrian economics. Entrepreneurs creatively respond to a crisis by adopting a cautious and defensive approach long before some of them could spot new opportunities for investment and take positive action to exploit them. But if they all choose to first play ‘defense’, they shape the macro-environment in patterns that keeps telling most of them “keep on protecting yourself”, “there are more risks than opportunities out there”. Both supply and demand are on a continuous downward spiral. While some discerning entrepreneurs will spot some opportunities even in the direst of the circumstances, their plans need time to materialise and some may never come to fruition. In the meantime, most economic actors are not well positioned to start what they know to do well, and many have already lost their money in activities that went downhill.
On the other hand, the side effects of a large top down intervention such as the global lock down confirms the Austrian critique that central planning is also a risky endeavour. In an effort to control a complex reality, radical top-down interventions can divert investment to the specific activities they prop up, which appear sustainable for as long as this diversion lasts. Restrictive measures can also backfire, such as Greece’s shock austerity that was intended to balance the budget in Greece, or can prolong a precarious environment, such as the debt-fuelled bailouts elsewhere to save the banking system.
The problem is that policymakers do not have the tools to gain a full grasp of any potential unintended or undesired consequences from their actions. When they focus on one range of analysis, such as preventing a spike of deaths during the epidemic, the measures they take can generate a cascade of negative side effects in areas off their alarmed radar which they may have no idea how to arrest or fix.
I don’t see this micro-macro antithesis as an automatic validation of post Keynesianism in the sense that capitalism is always inherently unstable. It is unstable in periods of crisis when the micro and the macro can become a contradiction.
Exogenous shocks periodically happen. But it is worth studying what post Keynesians state: a crisis can emerge endogenously as in the financial markets.
The way out may be to think in terms of resilience rather than stability. I am inspired by Hilton Root’s forthcoming book Network Origins of the Global Economy. Resilience is the capacity of a system to accommodate turbulences and absorb shocks in recurrent episodes of instability. The system is unstable but can withstand the stresses.
Are multiple adjustments by adaptive agents able to bring about resilience in a system? Or do we need a central node to gain control and bring about order? Is a centrally-induced order a structure of relations that can be resilient over time, given that it depends on the health of the central node and knowing that the capacity of governments to understand and predict is limited?
Nightcap
- On poverty and famine Frances Woolley, Worthwhile Canadian Initiative
- Lessons from 1918 Michael Shurkin, War on the Rocks
- A history of capitalism via coffee David Pilling, Financial Times
- Urbanization and its discontents Timothy Taylor, Conversable Economist
Nightcap
- Promotions galore for hawkish Chinese diplomats Tian & Zhai, Reuters
- The allocation of essential supplies during a crisis Peter Boettke, Coordination Problem
- Racism and the contamination of freedom Fabio Rojas, Bleeding Heart Libertarians
- Indo-Pacific versus Asia-Pacific Francis Sempa, Asian Review of Books
Nightcap
- The United States signed at least 29 treaties between 1789 and 1815 Rachel Herrmann, Age of Revolutions
- A glimpse of another kind of economy Nick Nielsen, Grand Strategy Annex
- The world after Covid-19 Branko Milanovic, globalinequality
- Old Christian icons in communist Bulgaria Terry Orr, Not Even Past
Nightcap
- The Gospel in a time of social distancing Casey Cep, New Yorker
- China’s misplaced pandemic propaganda Minxin Pei, Japan Times
- City of globalists David Corbin, Modern Age
- Edmund Burke and the American constitution Ofir Haivry, American Affairs
Nightcap
- What George Orwell can still teach the Left George Scialabba, Commonweal
- Why high African fertility persists Jack Goldstone, Hoover Institution
- Malta and the plague of 1813 Andrew Zwilling, War on the Rocks
- The libertarian arguments against democracy Adam Wakeling, Quillette
Nightcap
- Another wasted crisis? Chris Dillow, Stumbling & Mumbling
- Come home America, we’re at war Richard Reinsch II, RealClearPolicy
- Vouchers fight pandemics Robin Hanson, Overcoming Bias
- Singapore: the Sino-Semitic connection Adam Garfinkle, American Interest
Eco’s ‘How to eat ice cream’
A friend recently gifted me a vintage copy of some of Umberto Eco’s essays translated to English. One of the essays, titled “How to eat ice cream,” opened with an anecdote Eco said was based on his childhood. In the story, there was an ice cream vendor who sold regular cones for two cents and ice cream pie cones for four cents. Eco said his parents and grandmother would buy him which ever type he requested, but there was a limit. Young Eco envied the neighbor children who would parade down the street carrying a regular cone in each hand. But whenever he asked for four cents to buy two cones, the adults would flatly refuse and tell him that he could have a pie cone instead. As an adult, he mused:
[…] I realize that those dear and now departed elders were right. Two two-cent cones instead of one at four cents did not signify squandering, economically speaking, but symbolically they surely did. It was for this precise reason that I yearned for them: because two ice creams suggested excess. And this was precisely why they were denied me: because they looked indecent, an insult to poverty, a display of fictitious privilege, a boast of wealth. […] And parents who encouraged this weakness, appropriate to little parvenus, were bringing up their children in the foolish theatre of “I’d like to but I can’t.” They were preparing them to turn up at tourist-class check-in with a fake Gucci bag bought from a street peddler on the beach at Rimini.
The parenting method must have worked because he became Umberto Eco. What Eco recognized was that his parents had inoculated him against false consumerist behavior. The preventative measures were not against the so-called consumerist society but ostentatious display, the process of “keeping up with the Joneses.”
Around January 2018, there was a meme floating around social media. It said something along the lines of “Entrepreneur: someone who lives a few years the way most people won’t so that they can spend the rest of their lives living the way most people can’t.” I very belatedly discovered Carl Schramm’s 2004 book The Entrepreneurial Imperative. Schramm identified the 1950s as the time when American society ceased valorizing business ownership and virtuous risk in favor of material security. As part of the “security first” mentality, children and young people were openly discouraged from seeking independence or from being different in a positive way. The world was one of ossification and stagnation, even as the federal government and media pushed a strong Keynesian message of “consume to grow.” On a side note, now that I think about it, Keynesian economics resemble the children’s video game Snake: one guides the snake to food so that it will grow but eventually it becomes so big that it bites itself – Game over.
Even given the massive propaganda effort put into promoting Keynesian theories, scapegoating “consumerism” or “consumerist society” is a form of escapist thought, a dodging of responsibility. Eco spotted the cause and effect nature of being a parvenu. The desire for “fictitious privilege” creates a set of priorities that cause one to spend his wherewithal thoughtlessly. In turn a “boast of wealth” strategy leads to “’I’d like to but I can’t’” through ensuring that there is no money when real opportunity arrives. The world becomes one of abundant middle as the effort to possess everything spirals.
Nightcap
- Don’t wait for the government, DIY Karen Grépin, Duck of Minerva
- Actually, we need price gouging Antonis Giannakopoulos, Power & Market
- California, slavery, and the Gold Rush Paul Finkelman, LARB
- Wakaliwood, the homegrown Ugandan film industry Richard Whittaker, Austin Chronicle