Category: Books
Britain fact of the day
In 1960, the British drank 3.6 pints of wine per head per year; by 1971 they drank 7 pints, by 1973 9 pints, by 1975 11 pints and by 1980 almost 20 pints. One obvious reason was that it was cheaper than ever, with the duty having been slashed when Britain joined the EEC; another was that people picked up the taste on holiday; a third was that wines were advertised more successfully, being associated with glamour, luxury, and ambition, and aimed particularly at young women.
That is from Dominic Sandbrook's excellent State of Emergency, The Way We Were: Britain, 1970-1974.
I guess they really are for sanity
For the pointer I thank Thomas Acox and also Joshua Hall.
*State of Emergency*
Could it be the best non-fiction book so far this year? The author is Dominic Sandbrook and the subtitle is The Way We Were: Britain, 1970-1974, here is an excerpt:
As a spender, Joseph had only one Cabinet rival: the Education Secretary, Margaret Thatcher. Derided as the "Milk Snatcher" in 1971 because she had to carry out Macleod's plan to scrap free school milk for children aged between 8 and 11. Mrs Thatcher was actually a big-spending education chief who secured the funds to raise the leaving age to 16 and to invest £48 million in new buildings. In December 1972, she even published a White Paper envisaging a massive £1 billion a year for education by 1981, with teaching staff almost doubling and vast amounts of extra cash for polytechnics and nursery schools. She wanted "expansion, not contraction", she said. It never happened; if it had, her reputation in the education sector might be very different.
Every page of this book has excellent analysis and information, attractively presented. It masterfully covers a wide range of topics, ranging from how the British started drinking wine, to how the power cuts affected public morale, to the strategies of British labor unions, to the insightfulness of Fawlty Towers. It's a key book for understanding how the Thatcher Revolution ever came to pass.
It is simply a first-rate book. It is out only in the UK, but I was happy to pay the extra shipping charge from UK Amazon, which you too can pay here. Or maybe try these used sellers. Some reviews are here.
China fish fact of the day
Currently the world's wild [fish] catch measures 170 billion pounds — the equivalent in weight to the entire human population of China, scooped up and sliced, sauteed, poached, baked and deep-fried, year in and year out, every single year. This is a lot of fish — six times greater than the amount of fish we took from the ocean half a century ago.
That is from Paul Greenberg's Four Fish: The Future of the Last Wild Food.
Lydia Davis’s translation of *Madame Bovary*
Rip-off
The iTunes version of 4'33" offers all three movements, a snip at $1.99. Strangely, they only add up to 4'31". You might have thought a duration of four minutes and thirty-three seconds the minimum prerequisite for a recording of 4'33": apparently not.
That is by Wesley Stace, from his review "Hush Now: The silent of music and the music of noise," TLS 15 October 2010.
*Why the West Rules — For Now*, the new book by Ian Morris
Most of the book is intelligent, well-sourced, easy to read, and non-dogmatic. It is a "big book" on the scale of Jared Diamond or Paul Kennedy and the author is obviously highly intelligent. There is a good use of archaeology and mostly the author supports geographical theories of the rise of the West and other civilizations. It considers energy use, urbanization, and war-making explicitly, all pluses in my view. Eventually you realize it is going nowhere and has only a weak theoretical framework. The first two-thirds are still better to read than most books. It raised my opinion of the importance of coal in the Industrial Revolution. The final chapter collapses into the lamest of conventional wisdoms.
The WSJ gave it a big review which somehow I cannot find on-line. Here are other reviews.
Parentheticals to ponder
Geoffrey Johnson, who gave a speech that attempted to debunk any ideas that a machine could have emotions or self-consciousness and could, therefore, be said to think in a human way (Johnson was a pioneer of the frontal lobotomy).
That is from Jane Smiley's new and worthwhile The Man Who Invented the Computer, The Biography of John Atanasoff, Digital Pioneer. My favorite part of the book was the discussion of Konrad Zuse, who deserves his own popular biography.
Arbitrage
I make a living buying and selling used books. I browse the racks of thrift stores and library book sales using an electronic bar-code scanner. I push the button, a red laser hops about, and an LCD screen lights up with the resale values. It feels like being God in his own tiny recreational casino; my judgments are sure and simple, and I always win because I have foreknowledge of all bad bets. The software I use tells me the going price, on Amazon Marketplace, of the title I just scanned, along with the all-important sales rank, so I know the book's prospects immediately. I turn a profit every time.
Sometimes the guy spends eighty hours a week in used book stores, and if you are an author think of this as your competition. For the pointer I thank Andy Howard and the full story is here.
Along related lines, Adam Ozimek thinks that "Brain Mounted Computers are a Dominant Strategy Equilibrium."
Classical economics reading list
Joel, a loyal MR reader, asks me:
I am an undergraduate economics student curious about which of the classical economists and books you find most valuable. Classical not just meaning Ricardian but in terms of significant non purely quantitative works that influenced economics as a whole. If one were to put together a reading list of twenty or so of the most influential or important books, what would you recommend? The Wealth of Nations and General Theory of Employment, Interest, and Money seem logical starting points, beyond them though it's hard to wade through the range of choices (Ricardo or Hayek? Schumpeter or Jean Baptiste Say?)
For now I'll stick with classical economics in the narrow sense, as it ends in 1871. If you can read only a few works, I recommend these:
1. Adam Smith, Wealth of Nations. Duh.
2. David Hume, Economic essays. He lacks some of Smith's profundity as an economist, but he is more precise analytically and as always a beautiful writer.
3. David Ricardo, Principles of Political Economy, the first six chapters. Rigor arrives, though at the expense of truth. Still there is something to it. Supplement with Mark Blaug on Ricardo, if you want the model spelt out mathematically.
4. The early marginalists: I'll recommend Samuel Bailey on value and Mountifort Longfield on price theory. Yet still it was a (temporary) dead end and you should read them with that puzzle in mind. At what level of technical sophistication do the contributions of marginalism suddenly seem impressive?
5. Thomas Robert Malthus, on population (don't ask which edition) and Principles of Political Economy. He understood supply and demand, elasticity, a version of the Keynesian model, and environmental economics, and yet he is mainly criticized for being wrong about population. He is one of the strongest and most profound and most underrated economists of all time. Also read Keynes's biographical essay on him.
6. Edinburgh Review. The econ blogosphere of its day. Read the economic essays published in that outlet, by Malthus and many others, especially on monetary theory. I don't know any easy way to track this stuff down, but if you do please tell us in the comments.
7. John Stuart Mill: Autobiography (yes, for economics) and his Some Essays on Unsettled Questions in Political Economy (Kindle edition is free). Mill has underrated depth as an economic thinker and he encompassed virtually all of the interesting trends of his time. That was both his greatest strength and his biggest weakness.
8. Marx: The 1844 manuscripts. More generally, read the Romantics as critics of classical political economy. Coleridge and Carlyle are good places to start.
What about the French?: I find Say boring, Bastiat fun, Cournot incredible but there is no reason to read the original. Try someone weird like Comte or LePlay to get a sense of what economic discourse actually was like back then.
*The Gold Standard at the Turn of the Twentieth Century*
The author is Steven Bryan, a historian, and the subtitle is Rising Powers, Global Money, and the Age of Empire. This book offers a great deal of previous unpresented information on the operation of the gold standard in Japan, Russia, Turkey, and Argentina, based on original rather than secondary sources. Here is a summary paragraph at the end of the book:
The connection between nineteenth-century great power politics, empire building, and militarism and the gold standard was obscured after World War I in the rush to reinstate the form of the gold standard while ignoring its substance and the varied rationales and motivations that had supported it. Despite the rose-colored hues of nostalgia that flourished after the war, the gold standard did not exist in some magical land separate from the rest of the late nineteenth-century world. For better or worse, the gold standard was as much a part of the age of empire as it was of the age of industry.
Here is the book's home page. Here is the p.99 test applied to the book.
*Autobiography of Mark Twain, vol. I*
Finally, in Florence in 1904, I hit upon the right way to do an Autobiography: start it at no particular time of your life; wander at your free will all over your life' talk only about the thing which interests you at the moment; drop it the moment its interest threatens to pale, and turn your talk upon the new and more interesting thing that has intruded itself into your mind meantime.
Also, make the narrative a combined Diary and Autobiography. In this way you have the vivid things of the present to make a contrast with memories of like things in the past, and these contrasts have a charm which is all their own. No talent is required to make a combined Diary and Autobiography interesting.
And so, I have found the right plan. It makes my labor amusement — mere amusement, play, pastime, and wholly effortless. It is the first time in history that the right plan has been hit upon.
I spent about ninety minutes browsing this new book, but found it only moderately interesting, with more emphasis on the "moderately" than the "interesting." If you're obsessed with Twain, you'll find it worth the $20, but the above paragraphs sum up the main problem with the text.
*Bloodlands*
The author is Timothy Snyder and the subtitle is Europe Between Hitler and Stalin. I learned that this period was even bloodier and more brutal than I had thought:
Mass killing in Europe is usually associated with the Holocaust, and the Holocaust with rapid industrial killing. The image is too simple and clean. At the German and Soviet killing sites, the methods of murder were rather primitive. Of the fourteen million civilians and prisoners of war killed in the bloodlands between 1933 and 1945, more than half died because they were denied food. Europeans deliberately starved Europeans in horrific numbers in the middle of the twentieth century.
It is a very powerful book and I can recommend this review and this review. Along somewhat related lines, some of you may wish to read Paul R. Gregory's Politics, Murder, and Love in Stalin's Kremlin: The Story of Nikolai Bukharin and Anna Larina. Bukharin, of course, was also an economist. Here is Gregory on the book. Here is Gregory on Germany's currently low unemployment rate.
*Washington: A Life*, by Ron Chernow
When the news from Boston reached Mount Vernon around New Year's Day, Washington deplored the methods of the tea party, even if he loathed the tax on tea. It was the next step in a fast-unfolding drama that would fully radicalize him. The administration of the bluff, portly Lord North had decided that Boston should pay for the destroyed tea and that Parliament should assert its supremacy, cracking down on harebrained schemes of independence now beginning to ferment in the colonies…the tea party convinced many British sympathizers that colonial protestors had become a violent rabble who had to pay a steep price for their inexcusable crimes.
I read only a few hundred pages of this book. The level of quality is high, but I find Alexander Hamilton's life much more interesting. This book does have an especially good discussion of Washington's contradictory attitudes and behavior toward his slaves.
*Little Did I Know: Excerpts from Memory* the new Stanley Cavell memoir
To recognize the end of the day and get to bed, I developed the ritual of eating a box of Oreo cookies together with a can of applesauce. But really the ritual is equally describable as an effort to stop myself from eating the entire box of cookies, a sequence of five (was it?) pairs, each pair stacked in a pleated pliable plastic cup, and from finishing the accompanying applesauce, having conceived the idea that this was not a sensible diet. I slowed the eating by inventing new ways of going through the cookies. One way was to nibble around the circumference of a cookie before finishing off the remaining rough-edged center; another was to twist apart the two wafers of each Oreo, eat off the sugary middle spread from whichever of the wafers it largely adhered to, intending to eat only that one of that double cookie. But each night I lost the battle to stop eating before the package and the can were emptied. I recognize that to this day I unfailingly at the end of a meal leave some portion of food, if sometimes quite small, on my dish — as if to reassure myself that I am free.
I do the same, I should add. That passage is from Stanley Cavell, one of America's leading philosophers. If you're looking for a book which steps outside the usual mode of strict narrative, I recommend this highly, but it will leave many people frustrated. You can buy it here.
For the pointer I thank David Gordon.