Category: History
How often did Roman gladiators kill each other?
Gladiators’ combat had become a martial art by the beginning of the first millennium, according to a controversial theory based on reconstructing the fighters’ tactics from Roman artefacts and medieval fight books.
To amuse the crowds around the arena the gladiators would display broad fighting skills rather than fight for their lives, argues archaeologist Steve Tuck of the University of Miami. "Gladiatorial combat is seen as being related to killing and shedding blood," he says. "But I think that what we are seeing is an entertaining martial art that was spectator-oriented."
Here is the full story. Here is the home page of the researcher, Steve Tuck. Here is a page on Bruno Sammartino.
City air
Nicholas Kristof updates his story on the sex slaves that he bought (and freed) in Cambodia. For the main story read the whole thing but the following anecdote caught my eye as saying a lot about problems of development that are not much discussed in the literature: short-time horizons, envy, the dragging down of the ambitious and the almost inherent lack of property rights in small communities.
At first, it turns out, everything went well for Srey Neth. Our plan was for
her to start a shop in her village, near Battambang. She invested $100 I had
given her to build a shack and stock it with food and clothing. For a few
months, business boomed.
The problem was her family. Srey Neth’s parents and older brothers and
sisters had a hard time understanding why they should go hungry when their
sister had a store full of food. And her little nephews and nieces, running
around the yard, helped themselves when she wasn’t looking."Srey Neth got mad," her mother recalled. "She said we had to stay away, or
everything would be gone. She said she had to have money to buy new things."But in a Cambodian village, nobody listens to an uneducated teenage girl.
Indeed, the low status of girls is the underlying reason why so many daughters
are sold to the brothels. So by May, Srey Neth’s shop was empty, and she had no
money to restock it.
Eventually, and with help, Srey Neth moves to the city, in the process recapitulating an important aspect of Western economic development best encapsulated by the German phrase Stadtluft macht frei, city air makes one free (PDF).
Great economists by birthday
The list is arranged both by name and by date.
Today, of course, is the birthday of Sir Isaac Newton. Yes, he was also an economist. Here are his writings on money, which were an offshoot of his work at the Royal Mint. Newton promoted bimetallism and went to great lengths to fight counterfeiters. This latter campaign included both new means of executing and torturing them, and dressing up in disguise and catching them in the street.
The economics of dueling
Ron Chernow, in his biography of Alexander Hamilton, writes:
Duels were also elaborate forms of conflict resolution, which is why duelists did not automatically try to kill their opponents. The mere threat of gunplay concentrated the minds of antagonists, forcing them and their seconds into extensive renegotiations that often ended with apologies instead of bullets.
Put that into plain English: We have a Rubinstein bargaining game where players fail to reach an agreement, thereby eating up more and more of the pie. Each individual plays "chicken" and hopes the other will give in. But when you approach the precipice…ah…chicken becomes an increasingly dangerous strategy. The time horizon is truncated, "hold out" behavior becomes riskier, and perhaps the negative wealth effect brings individuals to the bargaining table. (It is complicated; rising costs may simply make you keener to wait out your opponent. A mutual increase in risk, however, can boost the likelihood of a bargain.) Then the Coase theorem kicks in and players reach a deal.
Of course to enforce this meeting of the minds, the the probability has to be real that an actual duel will result.
I used to think of duels as an inefficient form of signaling, typically with honor at stake. In contrast, this hypothesis may suggest that pre-duel risk generation is set privately at too low a level. The riskier you make things seem with your potential opponent, the more that subsequent would-be duelers will be scared into an agreement.
The hypothesis also suggests why duels have (mostly) vanished, namely because trading and contract technologies have improved (except in ghettos). The signaling hypothesis can predict either an increase or decrease in duels, depending on whether the demand for honor or life rises more rapidly with income.
Democracy’s Soldiers
In a review of Armageddon, a book on WWII by Max Hastings, James Sheehan makes the following bizarre remark.
Hastings recognizes that the generals’ failure to knock Germany out of
the war in late 1944 reflected the kind of armies they led as much as
their own deficiencies as leaders. The British and American armies were
composed of citizen soldiers, who were usually prepared to do their
duty but were also eager to survive.
The corollary being that citizens of non-democracies were not eager to survive and therefore made better warriors. Uh huh. I could go on but Brad DeLong has a great smackdown.
Was there an Industrial Revolution?
…the best estimates now available suggest no acceleration in the rate of growth of national product per head in the later eighteenth and early nineteenth centuries, and that one of the implications of this revision of the previous orthodoxy is that the English economy…was much more productive in the middle of the eighteenth century than was once supposed…it is unlikely that England enjoyed any advantage over her neighbours in this regard in the sixteenth century. It would be a major surprise, therefore, if the revised view of the situation c.1750 did not imply that the rate of growth of national product per head for a century or more before 1750 was as high as, or higher than, it was in the century next following.
This turns the spotlight on agriculture, whose centrality to all organic economies is clear by definition. It must figure prominently in any quest for the industrial revolution, despite its apparent exclusion by the oddities of nomenclature.
There are more shocks. Between 1600 and 1800 English per capita income rose by no more than 0.35 percent a year. (At the same time population was roughly doubling, from about 4.2 to 8.7 million.) Such a measured growth rate may sound low but by the standards of the time it was miraculously high. Other economies tended to hold steady or shrink in per capita income, especially in light of growing population.
Could it be that England’s ability to manage per capita growth above zero percent, for an extended period of time, is what give birth to the modern world? Was the Netherlands, with its earlier period of growth and urbanization, in fact the true leader?
On all these issues, and many others, read the new and fascinating collection of essays by E.A. Wrigley, Poverty, Progress, and Population.
Brad DeLong defends Adam Smith
My favorite part:
In The Wealth of Nations, at least, Smith believes that he has
an extraordinarily penetrating and largely new insight: that the market
economy–the "system of natural liberty," he calls it–as an immensely
powerful and benevolent social mechanism for promoting general
prosperity. This is, Smith believes, cause for a revolution in how we
should think about Political Oeconomy. The power and benevolence of the
market is not the only important consideration to take into account in
thinking about questions of Political Oeconomy, but it is the most
important consideration–as important, relatively speaking, as is the
gravity of the sun in calculating the motions of the planets. Just as
you cannot ignore the influence of Jupiter or even the Earth when
calculating the orbit of Mars, so you cannot ignore considerations of
civic humanism or employer collusion or monopoly in thinking about
Political Oeconomy. But to not give pride of place to Smith’s love of
the "system of natural liberty" is to be false to Smith’s thought. And
the guy deserves more respect than that.
Read more here.
Communicating stock prices, circa 1830
In the 1830s a man, every business day, would climb to the top of the dome of the Merchant’s Exchange on Wall Street, where the New York Stock and Exchange Board then held its auctions. There he would signal the opening prices to a man in Jersey City, across the Hudson. That man would signal them in turn to a man at the next steeple or hill, and the prices could reach Philadelphia in about thirty minutes.
That is from John Steele Gordon’s excellent An Empire of Wealth: The Epic History of American Economic Power. Here is my previous post on the book.
The ice trade
By the 1830s ice had become a very profitable American export. In 1833 American ice was being shipped as far as Calcutta, when the Tuscany, which had sailed from Boston on May 12, reached the mouth of the Ganges on September 5. Calcutta, one of the hottest and most humid cities on earth, and then the capital of British India, was ninety miles up the Hooghly River, and the population awaited the ice with breathless anticipation. The India Gazette demanded that the ice be admitted duty free and that permission be granted to unload the ice in the cool of the evening. Authorities quickly granted the demands. Frederic Tudor managed to get about a hundred tons of ice to Calcutta, and the British there gratefully bought it all at a profit for the American investors of about $10,000.
By the 1850s American ice was being exported regularly to nearly all tropical ports, including Rio de Janeiro, Bombay, Madras, Hong Kong, and Batavia (now Jakarta). In 1847 about twenty-three thousand tons of ice was shipped out of Boston to foreign ports on ninety-five ships, while nearly fifty-two thousand tons was shipped to southern American ports.
That is from John Steele Gordon’s An Empire of Wealth: The Epic History of American Power. This new book is the best single volume treatment of American economic history I have read, highly recommended. Here is a review, and note that the book’s perspective is Hamiltonian, not Jeffersonian.
And here is more on the ice trade. Here are good photos of the Norwegian ice trade, and yes they were exporters not importers.
A Thanksgiving Lesson
It’s one of the ironies of American history that when the Pilgrims first arrived at Plymouth rock they promptly set about creating a communist society. Of course, they were soon starving to death.
Fortunately, "after much debate of things," Governor William Bradford ended corn collectivism, decreeing that each family should keep the corn that it produced. In one of the most insightful statements of political economy ever penned, Bradford described the results of the new and old systems.
[Ending corn collectivism] had very good success, for it made all hands very industrious,
so as much more corn was planted than otherwise
would have been by any means the Governor or any other
could use, and saved him a great deal of trouble, and gave
far better content. The women now went willingly into the
field, and took their little ones with them to set corn;
which before would allege weakness and inability; whom
to have compelled would have been thought great tyranny
and oppression.The experience that was had in this common course and
condition, tried sundry years and that amongst godly and
sober men, may well evince the vanity of that conceit of
Plato’s and other ancients applauded by some of later
times; that the taking away of property and bringing in
community into a commonwealth would make them happy
and flourishing; as if they were wiser than God. For this
community (so far as it was) was found to breed much confusion
and discontent and retard much employment that
would have been to their benefit and comfort. For the
young men, that were most able and fit for labour and
service, did repine that they should spend their time and
strength to work for other men’s wives and children without
any recompense. The strong, or man of parts, had no
more in division of victuals and clothes than he that was
weak and not able to do a quarter the other could; this
was thought injustice. The aged and graver men to be
ranked and equalized in labours and victuals, clothes, etc.,
with the meaner and younger sort, thought it some indignity
and disrespect unto them. And for men’s wives to be
commanded to do service for other men, as dressing their
meat, washing their clothes, etc., they deemed it a kind of
slavery, neither could many husbands well brook it. Upon
the point all being to have alike, and all to do alike, they
thought themselves in the like condition, and one as good
as another; and so, if it did not cut off those relations that
God hath set amongst men, yet it did at least much diminish
and take off the mutual respects that should be preserved
amongst them. And would have been worse if they
had been men of another condition. Let none object this
is men’s corruption, and nothing to the course itself. I answer,
seeing all men have this corruption in them, God in
His wisdom saw another course fitter for them.
Among Bradford’s many insights it’s amazing that he saw so clearly how collectivism failed not only as an economic system but that even among godly men "it did at least much diminish and take off the mutual respects that should be preserved amongst them." And it shocks me to my core when he writes that to make the collectivist system work would have required "great tyranny
and oppression." Can you imagine how much pain the twentieth century could have avoided if Bradford’s insights been more widely recognized?
New economic history project
This sounds wonderful:
EH.Net Encyclopedia of Economic and Business History is designed to provide students and laymen with high quality reference articles in the field. Articles for the Online Encyclopedia are written by experts, screened by a group of authorities, and carefully edited.
Here is the prestigious advisory board.
Thanks to Brad DeLong for the pointer.
Venerable British traditions
“The Cost of This Building was 495,544 Rupees”
Carved into Prince Albert Hall, erected in Jaipur, India in 1886. It is also known as Ram Niwas Garden Central Museum.
Michael Grant passes away at 89
Here is the obituary, here is a New York Times account.
Do you ever find the history of the ancient world baffling? Grant’s books have been the place to go. Here is his book on the ancient Mediterranean, but read the whole lot.
My favorite things Indian
Being here is number one at the moment, but here are a few specifics:
1. My favorite Indian musician – I have to go with Zakir Hussain; yes the CDs are wonderful but they do not compare with seeing him live. Honorary mentions go to Ali Akhbar Khan (sarod) and L. Subramaniam (violin).
2. My favorite Indian movie – Bollywood stands or falls as a whole, but if I had to pick one film, it is the classic Mother India; this 1957 movie is arguably the defining moment of Indian cinema.
3. My favorite Indian novel – Rushdie is the obvious favorite, but I will opt for Vikram Seth’s A Suitable Boy. Better than any Dickens but Bleak House. And did you know that he was an errant economics Ph.d. student at Stanford when he wrote the manuscript?
4. My favorite Indian artist – Indian miniatures are a favorite, but we must go with named artists for this category. How about Nandalal Bose, the Bengali painter from the early twentieth century? Here are more nice pictures by him.
5. Favorite Indian chess player – Vishwanathan Anand is a no-brainer. India has a history of supercalculators, so how about this guy? You give him two and a half hours on his clock and he still uses only thirty minutes, and that is against world class competition. He used to be ranked number two in the world, though he has slipped in the last few years.
The man who killed the draft
The influence of Milton Friedman in ending conscription is well-known. But an economist named William Meckling arguably played a larger role, read the story. Many of you will know that Meckling, working with Michael Jensen, made seminal contributions to the theory of the debt-equity ratio. Here’s hoping that Congress meant its recent vote.
And consider these words from David Henderson:
Many of you who have made or are now making your fortunes would not have done so if the draft had been in the way. Consider Bill Gates, who in 1975 dropped out of Harvard to start Microsoft: during the draft years, young men like him who left college risked being certified as prime military meat. Computer programmers and other IT workers, who often do their best work relatively early in life, regularly drop out of college now because high-paying, interesting jobs beckon. If we still had the draft — even a peacetime draft — many wouldn’t have that chance.
People often wonder why today’s 20-somethings have such entrepreneurial spirit. One reason, I believe, is that a whole generation has grown up without the draft looming over its head.
Thanks to Bryan Caplan for the pointer.