Tuesday, January 28, 2020

“Debt, the private money that has fueled capitalism since its inception, is coded in law and ultimately relies on the state to back it up,” by way of the courts under normal circumstances and through bailouts if a debtor is too big to fail:  The history of debt finance can therefore be retold as a story about how claims to future pay have been coded in law to ensure their convertibility into state money on demand, without suffering serious loss…. By dressing private debt in the modules of the legal code of capital, it is possible to mask the liquidity risk for a while, but not forever. Whenever investors realize that, contrary to their expectations, they may not be able to convert their debt assets into cash, they head for the exit; and if many do so simultaneously, this will precipitate a financial crisis.

Adam Tooze (quoting Katharina Pistor), "How ‘Big Law’ Makes Big Money," NYRB Feb. 13, 2020

Monday, January 27, 2020

Saturday, December 28, 2019

Contemplate the marvel that is existence, and rejoice that you are able to do so.  I feel I have the right to tell you this because, as I am inscribing these words, I am doing the same.

Ted Chiang, Exhalation

Wednesday, December 25, 2019

Jesus said:  If you bring forth what is within you, what you bring forth will save you.  If you do not bring forth what is within you, what you do not bring forth will destroy you. 

The Gospel of Thomas, as noted by Elaine Pagels

Tuesday, December 24, 2019

Our struggle in life requires two virtues, bravery and wisdom -- readiness to endure a danger and skillful knowledge of how to manage it.

Gorgias (the Sophist)

Saturday, December 21, 2019

There are intelligible principles inherent in the matter of every phenomenon; because matter is essentially the sum of all the seemings that it has for any and all persons. 

Protagoras (the Sophist)



Wednesday, December 11, 2019

All things must be either limiting, or unlimited, or both limiting and unlimited.  Since things cannot consist either of the limiting alone or of the unlimited alone ... we must obviously conclude that the universe and its contents are fitted together and harmonized by a combination of the limiting and the unlimited.

For if everything that is were unlimited, there would not be anything of such a character that it could be recognized.

Philolaus  (a Pythagorean)


Monday, December 09, 2019

Tuesday, December 03, 2019

We must not rivet ourselves so fast to our humours and complexions: our chiefest sufficiency is to know how to apply ourselves to divers employments.
 

The principal use of reading to me is, that by various objects it rouses my reason, and employs my judgment, not my memory. 

Montaigne

Wednesday, November 27, 2019

The virtue of the soul does not consist in flying high, but in walking orderly; its grandeur does not exercise itself in grandeur, but in mediocrity.

Montaigne

Tuesday, November 12, 2019

Sunday, November 03, 2019



In everything there is a portion of everything else.

Anaxagoras, (per Philip Wheelwright, The PreSocratics)

Sunday, October 27, 2019

The justice which in itself is natural and universal is otherwise and more nobly ordered than that other justice which is special, national, and constrained to the ends of government.

Montaigne

Thursday, October 24, 2019

Content yourself ... to swim in troubled waters without fishing in them.

Montaigne

Sunday, October 20, 2019

I do not disapprove the use we make of things the earth produces, nor doubt, in the least, of the power and fertility of Nature, and of its application to our necessities: I very well see that pikes and swallows live by her laws; but I mistrust the inventions of our mind, our knowledge and art, to countenance which, we have abandoned Nature and her rules, and wherein we keep no bounds nor moderation. 

Montaigne

Thursday, October 10, 2019

To be is possible and not-to-be is impossible.... Thought and being are the same.

Parmenides, (per Philip Wheelwright, The PreSocratics)

Thursday, October 03, 2019

Everything flows and nothing abides; everything gives way and nothing stays fixed.... It is in changing that things find repose.

Men who love wisdom should acquaint themselves with a great many particulars.

Heraclitus (per Philip Wheelwright, The PreSocratics)

Saturday, September 28, 2019

The internet reminds us on a daily basis that it is not at all rewarding to become aware of problems that you have no reasonable hope of solving.

Jia Tolentino, as quoted in the New York Review by Jonathan Lethem

Sunday, September 15, 2019

Tuesday, August 27, 2019

There is nothing wrong in drinking as much as a man can hold without having to be taken home by a servant, unless of course he is very old.  The man to be praised is he who, after drinking, can still express thoughts that are noble and well arranged.

Xenophranes, per Philip Wheelwright, The PreSocratics)