Quotulatiousness

May 18, 2015

Death rides a pale horse … called “Binky”

Filed under: Books, Britain, Humour, Liberty — Tags: — Nicholas @ 04:00

In the June issue of Reason, Scott Shackford talks about the work of the late, great Terry Pratchett:

Terry Pratchett may not have been the first writer to personify Death as a walking, talking skeleton tasked with reaping the souls of the living, but he was the first to give him a horse named Binky and a granddaughter named Susan.

This Death was no less efficient or inevitable despite all the whimsy, of course. As various characters in Pratchett’s long-lasting, wildly popular series of fantasy novels passed on, Death traveled across Discworld — a flat planet resting on the backs of four elephants who stood on a giant turtle that swam through the universe — to ferry the newly deceased to whatever came afterward.

So it was highly appropriate that after Pratchett’s death at age 66 on March 12, following a long and deliberately public faceoff with early-onset Alzheimer’s disease, the novelist’s official Twitter account described his passing as Death gently escorting Pratchett from our rounder, less turtle-dependent world.

But let’s not dwell on Death. Pratchett’s Discworld books, all 40 of them (not counting short stories and related works), teemed with messy, disorganized life. And because he wrote in the fantasy genre, they were also packed with wizards, witches, dwarves, dragons, vampires, zombies, demons, werewolves, and the occasional orangutan. His books were humorous in tone, but tackled weighty matters of self-determination, identity, innovation, and, above all else, liberty.

“Whoever created humanity left in a major design flaw. It was the tendency to bend at the knee.” That piece of insight came from Feet of Clay, a book from right in the middle of his series, published in 1996. The witticism encapsulates a consistent theme in his books approaching how humans (and other sentient species) struggle between the desire to be free and the comfort of letting somebody more powerful or smarter (or claiming to be smarter, anyway) call the shots. In Pratchett’s books, both the heroes and the villains tended to be people in positions of authority. What separated his heroes — people like police commander Samuel Vimes, witch Esme “Granny” Weatherwax, and even Patrician Havelock Vetinari, an assassin turned ruler of the sprawling city of Ankh-Morpork — from the villains was their insistence on letting people live their own lives, whatever may come of it, even when they made a mess of things.

Doctor Who Theme – PLAYER PIANO

Filed under: Britain, Media — Tags: , — Nicholas @ 03:00

Published on 21 Apr 2015

Composer/Pianist Sonya Belousova and Director Tom Grey celebrate over 50 years of Doctor Who by paying tribute to its iconic theme.

Your diet isn’t working. And neither is yours. And yours, too.

Filed under: Food, Health — Tags: , — Nicholas @ 02:00

In the Washington Post, Roberto A. Ferdman dishes the dirt on every diet guru’s most brilliant brain-fart … they don’t actually work.

For centuries, men and women have worked tirelessly to fit the physical molds of their time. Diets, which have ranged from the straightforward to the colorful and kind of silly, have produced a wide range of results — and all sorts of followings.

Not long ago, the Atkins diet villainized carbohydrates and convinced millions to avoid starches of any kind. Today, the Paleo diet, which purports to emulate the eating habits and digestive systems of ancient humans who lived for many fewer years than people on average do today, is perhaps the most popular — or at least talked about — dietary fad. Soon there will be another fad that sweeps the dieting conversation. And another one.

The question that seems to hover over all this diet talk is whether any of the myriad weight loss schemes have worked. If one had, shouldn’t it have survived the test of time? And if we’ve gone this long without a diet that has been shown to work — according to science, not simply the sellers of the fad — will one ever emerge that actually does?

The short answer is no, according to Traci Mann, who teaches psychology at the University of Minnesota and has been studying eating habits, self-control and dieting for more than 20 years. Over the course of her research, largely conducted at the University of Minnesota’s Health and Eating Lab, Mann has repeatedly asked these sorts of questions, and always found the same disappointing answers.

QotD: Inflation

Filed under: Economics, Quotations — Tags: , — Nicholas @ 01:00

Inflation is a phenomenon that occurs when the value of a given unit of currency becomes debased in some way, and prices then rise to offset the currency’s loss in value. The standard definition of inflation is given in terms of rising prices rather than falling currency value, but that’s misleading. The value of goods and service don’t increase so much as the currency’s value relative to those goods and services decreases, so inflation is more of a monetary phenomenon than a market-price phenomenon.

The more the currency loses value, the higher prices denominated in that currency rise. The classical example of hyperinflation is the 1921-1924 hyperinflation in Weimar-era Germany, though in modern times Zimbabwe’s currency has undergone the same radical devaluation.

What causes a currency to become devalued? There are many causes. With specie currency like gold and silver coins, debasement is usually physical — in former times coins were “shaved” or “clipped” or adulterated with baser metals. The clippings could then be melted down and recast into new coins, but the clipped coin could still be passed off at full value (until the merchants got wise and started weighing and/or assaying the coins). This is why coins began to have milled edges — it made the practice of clipping easier to spot. A variant of the “shaving” debasement strategy is one carried out by the treasury or mint itself: reducing the amount of gold or silver in a coin, but leaving the face-value of the coin the same. This happened often to the Roman denarii — as the Imperial stocks of silver bullion waned, each coin was reduced in weight but mandated to retain the same value. (In modern fiat-money times, coins are generally manufactured out of base metals like nickel, tin, and zinc, but even so, the value of the metal is sometimes still higher than the face-value of the coin.)

In a fiat money regime, debasement is usually the result of creating too much currency for the economy to absorb. If the money supply exceeds some thresh-hold (it’s very complicated to figure out exactly what that thresh-hold is), you have more units of currency chasing the same amount of goods and services — which means that the real unit value of the currency will drop and prices will go up.

Another way a fiat currency can become debased is to arbitrarily re-value your currency relative to the market, or relative to other currencies. If an issuing authority declares the value of a quatloo to be three quatloos to a dollar, even if the market is trading at five quatloos to a dollar, the currency will be debased because it’s not actually worth what the issuing authority says it is. Prices go up, and the government usually responds by implementing price-controls, and in turn the goods and services simply become unobtainable at any price because producers won’t continue to produce at a loss.

No good or service has an absolute value. The value of a good or service is what someone is willing to pay for it. Currency is a specialized good, and is subject to the same law. If the stock of currency grows faster than the value represented by that currency in the wider economy, the currency is in an inflationary state.

Monty, “Inflation, Deflation, and Monetary Policy”, Ace of Spades HQ, 2014-07-11.

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