Showing posts with label society. Show all posts
Showing posts with label society. Show all posts

Thursday, February 23, 2023

Every act has consequences that change that world in some way, no matter how modest, and those actions will go on changing the world for millennia after we are gone. But to remember the details of every action is to invite madness, to paralyze our brains and our communities with memory.

Gavin Francis, The Dream of Forgetfulness (NYRB, March 9, 2023)

 

Wednesday, December 14, 2022

Keynes on Money

The main tenet of liberal socialism is that the state should cut the cord between money and time by taking over as much as three quarters of a country’s capital, bringing the frantic activities of saving and investment that plague capitalist societies under public ownership and control. In tandem with low interest rates and prohibitions on individuals’ and firms’ taking their money out of the country, the state’s management of savings and investment would achieve four goals. First, it would create full employment, which Keynes believed a capitalist economy could not bring about. Second, by funding investments in housing, transportation, and energy, the state would meet social needs that had long been neglected because greater profits were to be had elsewhere. Third, the state would end the scarcity of capital. Keynes thought that the possessor of capital was a social parasite, a “functionless investor” who was able to make money simply because only he had it to lend, much like a feudal landlord in possession of land. The capitalist also had “cumulative oppressive power,” issuing verdicts of life and death to workers and dictating policy to states. Because scarcity was the source of the capitalist’s parasitic power, ending that scarcity would lead to the “euthanasia of the rentier.”

Last, the worthiness of the state’s investments would not be measured by their rate of return but by their contribution to social well-being. Though Keynes imagined a variety of public goods that the state would bring about through its investments, the most important of those goods, for him, was the Smithian virtue of social intercourse:

Why should we not set aside, let us say, £50 millions a year for the next twenty years to add in every substantial city of the realm the dignity of an ancient university or a European capital to our local schools and their surroundings, to our local government and its offices, and above all perhaps, to provide a local centre of refreshment and entertainment with an ample theatre, a concert hall, a dance hall, a gallery, a British restaurant, canteens, cafés and so forth.

Keynes has long been accused of waging a war of economism against politics, elevating the economist above the statesman and thinking that the moral and political disagreements of a democratic society could be sidestepped or overcome by economic technicians and technocratic solutions.

... Keynes conceded that planning of the sort he was proposing “should take place in a community in which as many people as possible, both leaders and followers, wholly share [the planner’s] own moral position.” Yet he knew that his moral vision of an economy of cultural greatness and aesthetic excellence was not widely shared. ... Perhaps that’s why he found himself ... retreating to a position long familiar to philosopher-kings, calling for planners whose power could be safely exercised because they were “rightly orientated in their own minds and hearts to the moral issue” and because citizens had been reeducated according to the principles of “right moral thinking.”

... Keynes set out a second path for the future, one that he hoped would diminish the importance not just of money but of economic concerns altogether, without making any assumptions about what people believed or wanted from life. It was a vision of abundance and plenty, a world beyond scarcity, which made the hard power and hard choices of liberal socialism, as well as the requirement of democratic agreement about ultimate ends, unnecessary.

Corey Robin, The Trouble with Money (The New York Review, December 22, 2022)

Sunday, September 15, 2019

Wednesday, July 31, 2019

Reality

"Reality" [is] a quality appertaining to phenomena that we recognize as having a being independent of our own volition (we cannot "wish them away).... [an] order [that] is relative to a particular socio-historical situation [but] appears to the individual as the natural way of looking at the world.

Peter L. Berger & Thomas Luckmann, The Social Construction of Reality

Tuesday, November 28, 2017

The disdain that so many people feel [millennials] reflects an unease about the forces of deregulation, globalization, and technological acceleration that are transforming everyone’s lives. (It does not seem coincidental that young people would be criticized for being entitled at a time when people are being stripped of their entitlements.) Millennials, in other words, have adjusted too well to the world they grew up in; their perfect synchronization with economic and cultural disruption has been mistaken for the source of the disruption itself.

Jia Tolentino, "Where Millennials Come From" (The New Yorker, December 4, 2017)

Friday, September 29, 2017

The nation’s labor market continues to bifurcate, separating the workers lucky enough to get the high-skill jobs our economy has newly created (and get paid accordingly) from those stuck with jobs for which automation has taken away the need for skills and that therefore pay very little.

Benjamin M. Friedman, New York Review (October 12, 2017)

Saturday, March 14, 2015

[R]elying on the Internet for facts and figures is making us mindless sloths.... a study in Science ...  demonstrates that the wealth of information readily available on the Internet disinclines users from remembering what they’ve found out.


Sue Halpern, "How Robots & Algorithms Are Taking Over," New York Review (April 2, 2015)

Tuesday, October 15, 2013

There is scarce truth enough alive to make societies secure;
but security enough to make fellowships accurst.

William Shakespeare, Measure for Measure

Monday, April 01, 2013

We are accounted poor citizens, the patricians good.
What authority surfeits on would relieve us: if they
would yield us but the superfluity, while it were
wholesome, we might guess they relieved us humanely;
but they think we are too dear: the leanness that
afflicts us, the object of our misery, is as an
inventory to particularise their abundance; our
sufferance is a gain to them Let us revenge this with
our pikes, ere we become rakes: for the gods know I
speak this in hunger for bread, not in thirst for revenge.

William Shakespeare, Coriolanus (Act 1, Scene 1) 

Tuesday, February 07, 2012

How could anybody, let alone a man like me, expect to blend in in a land where the people are so very, very small.

T. Coraghessan Boyle, "Los Gigante" in The New Yorker of February 6, 2012.