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Tag Archives: Capitalism

How Thomas Friedman Gets China Wrong

04 Friday Dec 2015

Posted by jrbenjamin in Freedom, Interview, Journalism, Politics

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Benito Mussolini, Capitalism, Charles Lindbergh, China, Chinese Politics, Communism, democracy, economics, Fascism, history, Hoover Institution, innovation, interview, Iran, Japan, Journalism, New York Times, Nuclear Weapons, Pakistan, Peter Robinson, Russia, Taiwan, technology, Thomas Friedman, Uncommon Knowledge, Victor Davis Hanson

Peter Robinson: New York Times columnist Thomas Friedman writes that,

One-party autocracy certainly has its drawbacks. But when it is led by a reasonably enlightened group of people, as China is today, it can also have great advantages… It is not an accident that China is committed to overtaking us in electric cars, solar power, energy efficiency, batteries, nuclear power and wind power.

What do you make of this “Beijing Consensus,” this view that maybe they are better suited for the future than our form of government.

Victor Davis Hanson: If you gave me ten minutes and the internet, I could give you an almost verbatim quote from what left-wing people said about Mussolini in the twenties, and what right-wing people like Charles Lindbergh said about Germany in the thirties. They make the trains run on time…

But China has a rendezvous with radical pollution problems and clean up; demographic problems, a shrinking population that will grow old before it grows rich; one male per family, imbalance between the sexes. Somehow their brilliant foreign policy cooked up a nuclear Pakistan, a nuclear North Korea, a nuclear Russia, a soon-to-be nuclear Iran, and maybe, in the future, a nuclear Taiwan and Japan — all right on their border.

So I don’t get this fascination that, just because you fly into the Shanghai airport and everything looks great in a way that Kennedy doesn’t, suddenly they’re the avatars of the future.

What Thomas Friedman would need to do is get on a bicycle, cross rural China, then compare that with biking across rural Nebraska to see which society is more resilient and stable.

Victor Davis Hanson

__________

A counterpoint made by VDH in his interview with the Hoover Institute’s Peter Robinson several years ago. To read more, you can take a look at Hanson’s much praised study of nine of history’s most pivotal battles, Carnage and Culture.

Or you can read on:

  • VDH outlines how a Greek conception of human nature can shape your politics
  • Thomas Sowell discusses the “obvious problem with a ‘living wage'” in his interview with Robinson earlier this year
  • Martin Amis dissects how Britain, Germany, and France have each reconciled their 20th century legacies

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Our Next Series of Demands

03 Tuesday Nov 2015

Posted by jrbenjamin in History

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American History, Averell Harriman, Capitalism, Communism, Diplomacy, Government, history, Joseph Stalin, Maxim Litvinov, Paul Johnson, peace, politics, Reflections on a Ravaged Century, Robert Conquest, Russia, Soviet Union, War, World War Two, Yalta Conference

World Leaders at the Yalta Conference, 1945

“In November 1945 Maxim Litvinov, at that time Deputy Foreign Minister of the USSR (who, as his wife told me, had become not merely tactically but even ideologically disenchanted), was asked by the American envoy Averell Harriman what the West could do to satisfy Stalin. He answered: ‘Nothing.’ In June 1946, still in that post, he warned a Western journalist that the ‘root cause’ of the confrontation was ‘the ideological conception prevailing here that conflict between the Communist and capitalist worlds is inevitable’ — that is, no more than the doctrine long since announced by Lenin that ‘a series of frightful clashes’ were bound to occur between the two systems, leading finally to the world victory of communism. When the correspondent asked Litvinov, ‘Suppose the West would suddenly give in and grant all Moscow’s demands?… would that lead to goodwill and the easing of the present tension?’ Litvinov answered, ‘It would lead to you being faced, after a more or less short time, with our next series of demands.'”

__________

Excerpted from Robert Conquest’s Reflections on a Ravaged Century. In the book, Conquest, who Paul Johnson calls “our greatest living historian,” offers a blistering critique of not just Marx and his acolytes, but of the more general tendency for human beings to believe too strongly in the redemptive power of radical ideas and institutions.

On another level, in reading Litvinov’s ominous response, I was struck not by its application to today’s Russia (though some may argue that), but by how it reflects the unspoken approaches of so many groups and movements, both internal and external.

The photograph was taken at the 1945 Yalta Conference. Harriman is in the background, second from the right.

There’s more:

  • Why Stalin hated Trotsky
  • How today’s Britain, Germany, and France have reconciled their roles in World War II
  • The Nightmarish Child: Vladimir Lenin’s last days

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What Is Mein Kampf about?

12 Saturday Sep 2015

Posted by jrbenjamin in History

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Adolf Hitler, Anti-Semitism, biology, Bloodlands, Bloodlands: Europe between Hitler and Stalin, Capitalism, Communism, Darwinism, evolution, Graduate Institute of Geneva, history, Hitler's World, Ideology, Jews, Judaism, Leon Trotsky, Mein Kampf, Nazis, Nazism, new York Review of Books, Race Theory, racism, Saint Paul, speech, World War Two

Adolf Hitler in Color

“Mein Kampf is fundamentally a text about nature. About what belongs in nature and what doesn’t belong in nature.

It describes nature as a conflict of races; everything else is incidental. The only things which truly exists in the human world are races, and the only thing they’re supposed to be doing is competing for land and resources.

In this text, the Jews figure not as a race — not as an inferior race, not as a superior race — but as something totally supernatural which has somehow come into the world and introduced evil.

The Jews have an ability which is, in effect, superhuman. They can do one thing that no one else can do, and that’s bring ways of thinking into the world.

So from Hitler’s point of view, the Jews are not actually subhuman. They’re more like superhuman, though that’s not quite right either. From Hitler’s point of view, and from the point of view of several leading Nazis, the Jews are not really human at all. They’re para-human: they only appear to be human, but are actually something else.

The evil that the Jews have introduced into the world — and this strikes me as very important — is ethical thinking. What the Jews have done which is so wrong, is to confuse our minds by introducing ideas which are not about racial struggle. They’ve introduced ethical life to the world.

So Hitler presents capitalism as Jewish; he presents communism as Jewish; he presents Christianity as Jewish.

Why? Because all of these ideas, different though they might seem, have the common feature that they allow people to see each other in non-racial terms. Whether I’m signing a contract with you, making a revolution with you, attending mass with you, it’s not race that matters. It’s some kind of other reciprocity.

Therefore Hitler could say, as he did say, that Saint Paul was basically the same person as Leon Trotsky…

Nature can only be pure if the Jews are gone, because Jews are the special, supernatural beings who make us something that we’re not.”

__________

Timothy Snyder, speaking in Krakow at the “Unimaginable” conference earlier this year. (He also touches on these themes around minute 20 in this 2013 talk at the Graduate Institute of Geneva.)

Snyder, who teaches history at Yale, has a new book out, Black Earth: The Holocaust as History and Writing. I can highly recommend not only his talks like the one above, but his written work, which is dynamic and crisp, and shows a true mastering of the broad political, cultural, and military forces of the early 20th century. His last effort, the highly acclaimed, subversive history of the second world war Bloodlands: Europe between Hitler and Stalin, has a place at the top of my shelf.

To get a condensed version of Snyder’s take on the ideology of the Reich, you can check out his article soon to be published in the New York Review of Books, “Hitler’s World”. In it, he gives depth to some of the concepts detailed above (Snyder has clearly been fixated on the project of clearing up Hitlerite ideology for some time). The following slice is among the most informative of the piece, and it lays bare the claims of those on both sides of the religious-atheist debate who try to claim the Führer as their opponents’ ally:

Hitler’s presentation of the Jewish threat revealed his particular amalgamation of religious and zoological ideas. If the Jew triumphs, Hitler wrote, “then his crown of victory will be the funeral wreath of the human species.” On the one hand, Hitler’s image of a universe without human beings accepted science’s verdict of an ancient planet on which humanity had evolved. After the Jewish victory, he wrote, “earth will once again wing its way through the universe entirely without humans, as was the case millions of years ago.” At the same time, as he made clear in the very same passage of My Struggle, this ancient earth of races and extermination was the Creation of God. “Therefore I believe myself to be acting according to the wishes of the Creator. Insofar as I restrain the Jew, I am defending the work of the Lord.”

Continue on topic:

  • The astounding truth that Hitler was a champion couch potato
  • How Britain, Germany, and France have reconciled their roles in WW2
  • Viktor Frankl’s inspiring take on how love survived the camps

Timothy Snyder

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Thomas Sowell: The Obvious Problem with a “Living Wage”

28 Tuesday Apr 2015

Posted by jrbenjamin in Political Philosophy

≈ Comments Off on Thomas Sowell: The Obvious Problem with a “Living Wage”

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Basic Economics, Capitalism, Conservativism, economics, Fair Wage, Finance, Free Market, Hoover Institution, Living Wage, Macroeconomics, Microeconomics, Peter Robinson, Salaries, Thomas Sowell, Wages

Thomas Sowell

“Wages and salaries serve the same economic purposes as other prices — that is, they guide the utilization of scarce resources which have alternative uses, so that each resource gets used where it’s most valued. Yet because these scarce resources are human beings, we tend to look on wages and salaries differently. Often we ask questions that are quite emotionally powerful, even if they are logically meaningless. For example: Are the wages ‘fair’? Are the workers ‘exploited’? Is this ‘a living wage’?

Such questions seldom get asked about the prices of inanimate things, such as a can of peas or a share of stock in General Motors. But people are believed to be entitled to pay that is ‘fair,’ even if no one can define what that means. ‘Exploitation’ and ‘a living wage’ are likewise emotionally powerful expressions without concrete meanings. If a worker is living, how can he be receiving less than ‘a living wage’ unless he is, as some have said thoughtlessly, ‘living below subsistence’?

No one likes to see fellow human beings living in poverty and squalor, and many are prepared to do something about it, as shown by the vast billions of dollars that are donated to a wide range of charities every year, on top of the additional billions spent by governments in an attempt to better the condition of less fortunate people. These socially important activities occur alongside an economy coordinated by prices, but the two things serve different purposes. Attempts to make prices, including the prices of people’s labor and talents, be something other than signals to guide resources to their most valued uses, make those prices less effective for their basic purpose, on which the prosperity of the whole society depends. Ultimately, it is economic prosperity that makes it possible for billions of dollars to be devoted to helping the less fortunate.

Nothing is more straightforward and easy to understand than the fact that some people earn more than others, for a variety of reasons. Some people are simply older than others, for example, and their additional years have given them opportunities to acquire more experience, skills, formal education and on-the-job training — all of which allows them to do a given job more efficiently or to take on more complicated jobs that would be overwhelming for a beginner or for someone with only limited experience or training. It is hardly surprising that this leads to higher incomes. With the passing years, older individuals may also become more knowledgable about job opportunities, while increasing numbers of other people become more aware of them and their individual abilities, leading to offers of new jobs or promotions. It is not uncommon for most of the people in the top 5 percent of income-earners to be 45 years old and up. […]

These and other common sense reasons for income differences among individuals are often lost sight of in abstract discussions of the ambiguous term ‘income distribution.’ Although people in the top income brackets and the bottom income brackets — ‘the rich’ and ‘the poor,’ as they are often called — may be discussed as if they were different classes of people, often they are the very same people at different stages of their lives. An absolute majority of those Americans who were in the bottom 20 percent in income in 1975 were also in the top 20 percent at some point over the next 16 years. This is not surprising.”

__________

Excerpted from Thomas Sowell’s Basic Economics, a modern conservative’s primer on money and the market economy.

Below, watch the affable 84-year-old discussing the release of the fifth edition of Basic Economics with the Hoover Institution’s Peter Robinson last December.

And there’s more:

  • How Jefferson fostered compromise on the national debt
  • David Ricardo outlines the principle of comparative advantage
  • Arthur Brooks on earning money versus creating value

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H. L. Mencken on Capitalism

25 Tuesday Nov 2014

Posted by jrbenjamin in Political Philosophy

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Capitalism, democracy, economics, economy, Finances, H. L. Mencken, Macroeconomics, Markets, Minority Report, Regulation

H. L. Mencken

“What we confront is not the failure of capitalism, but simply the failure of democracy.

Capitalism has really been responsible for all the progress of the modern age. Better than any other system ever devised, it provides leisure for large numbers of superior men, and so fosters the arts and sciences. No other system ever heard of is so beneficial to invention. Its fundamental desire for gain may be far from glorious per se, but it at least furthers improvement in all the departments of life. We owe to it every innovation that makes life secure and comfortable.

Unfortunately, like any other human institution (for example, Holy Church), capitalism tends to run amuck when it is not restrained, and democracy provides inadequate means of keeping it in order. There is never any surety that democracy will throw up leaders competent to discern the true dangers of capitalism and able to remedy them in a prudent and rational manner. Thus we have vacillated between letting it run wild and trying to ruin it. Both courses are hazardous and ineffective, and it is hard to say which is more so.”

__________

Entry #310 in H. L. Mencken’s notebooks (collected and printed as Minority Report).

Read on:

  • Calvin Coolidge clearly summarizes when taxes are appropriate and when they’re exploitive
  • Thomas Piketty poses the question Did inequality cause the financial crisis?
  • Mencken’s unforgettable defense of liberty as the primary political ideal

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The Occasional Pleasure of Advancing Years: Christopher Hitchens on the Passage of Time

15 Sunday Dec 2013

Posted by jrbenjamin in Literature

≈ 5 Comments

Tags

A Moveable Feast, Age, Aging, Angela Gorgas, Capitalism, Christopher Hitchens, Hitch-22, James Fenton, Martin Amis, Marxism, memoir

NPG x133006; Christopher Hitchens; James Martin Fenton; Martin Amis by Angela Gorgas

“In some ways, the photograph of me with Martin and James is of ‘the late Christopher Hitchens.’ At any rate, it is of someone else, or someone who doesn’t really exist in the same corporeal form. The cells and molecules of my body and brain have replaced themselves and diminished (respectively). The relatively slender young man with an eye to the future has metamorphosed into a rather stout person who is ruefully but resignedly aware that every day represents more and more subtracted from less and less.

As I write these words, I am exactly twice the age of the boy in the frame. The occasional pleasure of advancing years — that of looking back and reflecting upon how far one has come — is swiftly modified by the immediately succeeding thought of how relatively little time there is left to run. I always knew I was born into a losing struggle but I now ‘know’ this in a more objective and more subjective way than I did then. When that shutter clicked in Paris I was working and hoping for the overthrow of capitalism. As I sat down to set this down, having done somewhat better out of capitalism than I had ever expected to do, the financial markets had just crashed on almost the precise day on which I became fifty-nine and one-half years of age, and thus eligible to make use of my Wall Street-managed ‘retirement fund.’ My old Marxism came back to me as I contemplated the ‘dead labor’ that had been hoarded in that account, saw it being squandered in a victory for finance capital over industrial capital, noticed the ancient dichotomy between use value and exchange value, and saw again the victory of those monopolists who ‘make’ money over those who only have the power to earn it…

Christopher Hitchens and Angela Gorgas

I now possess another photograph from that same visit to Paris, and it proves to be even more of a Proustian prompter. Taken by Martin Amis, it shows me standing with the ravissant Angela [Gorgas], outside a patisserie that seems to be quite close to the Rue Mouffetard, praise for which appears on the first page of A Moveable Feast. (Or could it be that that box of confections in my hand contains a madeleine?) Again, the person shown is no longer myself. And until a short while ago I would not have been able to notice this, but I now see very clearly what my wife discerns as soon as I show it to her. ‘You look,’ she exclaims, ‘just like your daughter.’ And so I do, or rather, to be fair, so now does she look like me, at least as I was then. The very next observation is again more evident to the observer than it is to me. ‘What you really look,’ she says, after a pause, ‘is Jewish.’ And so in some ways I am — even though the concept of a Jewish ‘look’ makes me bridle a bit — as I shall be explaining. (I shall also be explaining why it was that the boy in the frame did not know of his Jewish provenance.) All this, too, is an intimation of mortality, because nothing reminds one of impending extinction more than the growth of one’s children, for whom room must be made, and who are in fact one’s only hint of even a tincture of a hope of immortality.”

__________

From the memoir Hitch-22 by Christopher Hitchens.

More from the memoir:

Christopher Hitchens

Friendship, Love, Irony, Humor, Parenthood, Literature, and Music

Hitchens at Home

The Grape and the Grain

Christopher Hitchens by Angela Gorgas

A Map of the World that Did Not Show Utopia

Christopher Hitchens Cancer

These Contradictions

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