Quotulatiousness

June 27, 2015

“Individualism” as an epithet

Filed under: Europe, France, History, Liberty, Politics — Tags: , , — Nicholas @ 04:00

Frank Furedi explains the odd origins of the word “individualism”:

One reason why the idea of individualism generates so much confusion is because, throughout its history, it has been defined by parties that were hostile to it. Indeed, the very term itself was an invention of the opponents of liberalism. As Steven Lukes pointed out in in his useful study, Individualism (1973), the term first emerged in French – individualisme – as part of ‘the general European reaction to the French Revolution and to its alleged source, the thought of the Enlightenment’. For those opposed to the Enlightenment, individualism served as a swear word to be hurled at the enemy.

In Europe, nineteenth-century conservative and counter-revolutionary thought was dominated by hostility to reason and the rights of the individual. Individualism was blamed for the corrosion of traditional communities and the decline in community solidarity. And this conservative representation of individualism, as a narrow-minded, egotistical outlook that selfishly ignores the needs of others in society, continues to predominate. The Oxford English Dictionary, for example, describes individualism as ‘the habit of being independent and self-reliant; behaviour characterised by the pursuit of one’s goals without reference to others’. In case the reader missed the implicit moral judgement here, the OED adds that individualism comes ‘sometimes with negative connotations of self-centredness or anti-social behaviour’.

By the middle of the nineteenth century, it was increasingly common to attribute some of the most destructive consequences of the Industrial Revolution, particularly the break-up of communities and social disorganisation, to the rise of individualism. When Auguste Comte, the French philosopher and founder of the discipline of sociology, condemned individualism as ‘the disease of the Western world’, he gave voice to a sentiment that transcended the ideological divide between conservatives and socialists. Individualism had few friends on either the left or the right of the political spectrum. The representation of individualism as a selfish, anti-social and destructive creed provided an ideological narrative for demonising liberal currents of thought.

Price Ceilings: The US Economy Flounders in the 1970s

Filed under: Economics, History, USA — Tags: , , , , — Nicholas @ 03:00

Published on 25 Feb 2015

In 1971, President Nixon, in an effort to control inflation, declared price increases illegal. Because prices couldn’t increase, they began hitting a ceiling. With a price ceiling, buyers are unable to signal their increased demand by bidding prices up, and suppliers have no incentive to increase quantity supplied because they can’t raise the price.

What results when the quantity demanded exceeds the quantity supplied? A shortage! In the 1970s, for example, buyers began to signal their demand for gasoline by waiting in long lines, if they even had access to gasoline at all. As you’ll recall from the previous section on the price system, prices help coordinate global economic activity. And with price controls in place, the economy became far less coordinated. Join us as we look at real-world examples of price controls and the grave effects these regulations have on trade and industry.

American literacy and the unanticipated boost that was World War 2

Filed under: Books, History, Military, USA, WW2 — Tags: — Nicholas @ 02:00

Terry Teachout makes the unusual claim that it was the Second World War that “made America literate”:

It’s said that two things about war are insufficiently appreciated by those who, like me, have not known it first-hand: 1) It is, when not terrifying, mostly dull, and 2) it is, like all human enterprises, subject to the operation of the law of unintended consequences. Few aspects of World War II better illustrate both of these points than the Armed Services Editions publishing project. Between 1943 and 1947, the U.S. Army and Navy distributed some 123 million newly printed paperback copies of 1,322 different books to American servicemen around the world. These volumes, which were given out for free, were specifically intended to entertain the soldiers and sailors to whom they were distributed, and by all accounts they did so spectacularly well. But they also transformed America’s literary culture in ways that their wartime publishers only partly foresaw — some of which continue to be felt, albeit in an attenuated fashion, to this day.

[…]

Thus, the Armed Services Editions, which were published by a civilian organization called the Council on Books in Wartime — compact, oblong, two-column-wide paperbacks that were designed to slip easily into the pockets of a uniform. They were sold to the military for six cents per volume. Since books were regarded by the U.S. government as “weapons in the war of ideas,” the military specified that nothing would be published that might “give aid and comfort to the enemy, or which may be detrimental to our own war effort,” or that was not in accord with “the spirit of American democracy.” Still, it was the Council on Books in Wartime, not the military, that chose the titles, and while a few of the longer ones were abridged, none were censored.

The first ASEs were shipped in September of 1943. About 155,000 crates of books were subsequently distributed each month. Each crate contained between 30 and 50 new titles that fell into one of the following categories:

  • Mysteries, thrillers, and Western novels by such popular writers as Max Brand, James M. Cain, Raymond Chandler, W.R. Burnett, Erle Stanley Gardner, Zane Grey, Ernest Haycox, and Luke Short.
  • Bestselling “blockbuster” novels, such as Henry Bellamann’s Kings Row, Edna Ferber’s So Big, Charles Jackson’s The Lost Weekend, Kenneth Roberts’s Northwest Passage, and John Steinbeck’s The Grapes of Wrath, many of which had been or would soon be turned into movies.
  • Collections by humorists and writers of light verse, including five titles by Robert Benchley, six by James Thurber, and three by Ogden Nash.
  • War-themed books like Bill Mauldin’s Up Front and Ernie Pyle’s Brave Men.
  • Biographies, histories, memoirs, and other nonfiction titles, including Lytton Strachey’s Eminent Victorians, Virgil Thomson’s The State of Music, and Carl Van Doren’s Benjamin Franklin.
  • Classic novels and poetry, some easily accessible (David Copperfield, Adventures of Huckleberry Finn), others less so (Moby-Dick, Vanity Fair).
  • A modest but not exiguous complement of “serious” modern novels, short stories, poetry, and plays, most of them representative of then-current mainstream taste (Willa Cather’s Death Comes for the Archbishop, Robert Penn Warren’s All the King’s Men) but some of which were decidedly recherché (Max Beerbohm’s Seven Men, Christopher Isherwood’s Prater Violet)

As this list suggests, the ASEs were intended to please a broadly popular audience. But even the bestsellers tended to be more elevated in tone than their present-day counterparts (Somerset Maugham was represented by five novels, John P. Marquand by six). And it was taken for granted that each crate of books would always contain two or three genuinely challenging titles. The first series of ASEs, for instance, included Joseph Conrad’s Lord Jim, Herman Melville’s Typee, and H.L. Mencken’s Heathen Days. Such books were “sold” to skeptical readers with enticing flap copy, as in the case of the ASE edition of The Great Gatsby: “Its pages are filled with masterly realism, melodramatic action, searing irony, and swift romance…Here is a story that is American to the core.”

In any case, it scarcely mattered what the Council on Books in Wartime printed, for all of the ASEs were hugely popular among servicemen, so much so that they were frequently torn into pieces so that they could be shared more easily. A.J. Liebling, who covered the war in Europe for the New Yorker, even saw them on the beaches of Normandy after D-Day. “These little books are a great thing,” a Brooklyn infantryman told him. “They take you away.”

QotD: The corporate tax game

Filed under: Bureaucracy, Business, Law, Quotations, USA — Tags: , , , , — Nicholas @ 01:00

You can think of corporate taxation as a sort of long chess match: The government makes a move. Corporations move in response — sometimes literally, to another country where the tax burden is less onerous. This upsets the government greatly, and the Barack Obama administration in particular. Treasury Secretary Jack Lew has written a letter to Congress, urging it to make it stop by passing rules that make it harder to execute these “inversions.”

I’ve got a better idea: What if we made our tax system so attractive to corporations that they would have no interest in moving themselves abroad?

The problem with this extended chess game is that every move is very costly. First, it adds to the complexity of the tax code. With every new rule — no matter how earnestly said rule attempts to close a “loophole” — it becomes harder to know whether you are in compliance with the law. This is true on both sides; corporate tax law has now passed well beyond the point where it is possible for a single expert to be familiar with its ins and outs. This makes it harder to plan business expansions, harder to forecast government revenue, and it requires both sides to hire more experts in order to determine whether corporations are compliant. It also means more lawsuits, and longer ones, as both sides wrangle over how this morass of laws should be applied to real-world situations.

You can think of it this way: Every new law has possible intersections with every other tax law in existence. As the number of laws grows, the number of possible intersections grows even faster. And each of those intersections represents both a possible way to avoid taxes and a potential for unintended consequences that inadvertently outlaw something Congress never intended to touch. This growing complexity makes it more and more difficult for either companies or lawmakers to forecast the ultimate effects of new tax laws.

Megan McArdle, “We Don’t Need a Corporate Income Tax”, Bloomberg View, 2014-07-16.

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