World War Two
Published 30 Apr 2022The Allies launch a deception operation to hide their intent of soon attacking Sicily, but first, they’ll actually have to secure Tunisia, and it is slow going. A German offensive in the Caucasus grinds to a halt, and German U-boats are suddenly finding themselves unable to destroy Allied shipping in the Atlantic.
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May 1, 2022
The race for Tunisia turns into a crawl – WW2 – 192 – April 30, 1943
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Despite the ever-present smartphone, people are still reading actual books in pretty good numbers
In the latest SHuSH newsletter, Kenneth Whyte provides some mildly hopeful numbers for both readers and writers:
I was having coffee this week with a former star journalist who now (like so many) works in a journalist-adjacent industry. “Who reads books?” she wondered.
It’s a question I’m often asked by journalists who these days get a lot of their information from Twitter. The chore of keeping up with their feed leaves little time for anything else. My guest still read books and belongs to a book club, but she asked the question all the same.
According to the authorities at the PEW Institute, 77% of Americans read books in 2021 (or, to be more precise, read one or more books in one or more format—print, audiobook, ebook). That’s not bad considering only 86% of American adults can read.
Only 21% of women read no books, and 26% of men. Eighty per cent of white people read books (as compared to 62% of Hispanics).
Good news for the future of book reading: 81% of adults under the age of fifty read books compared to 72% of adults over the age of fifty.
More on the demographics: 69% of those earning less than $30,000 a year read books, while 85% of those earning over $75,000 read books; 61% of those with a high-school (or less) education read books; 89% of college graduates read books.
According to PEW, the average reader manages twelve a year.
There is some evidence that reading is a declining habit: according to the Bureau of Labor Statistics, average time spent reading for pleasure declined from twenty-three minutes a day to seventeen minutes a day from 2005 to 2017. But the least decline was among young adults, 18 to 34 (less than 1%).
In fact, there is good evidence that the much-maligned millennials read more than their parents, and they overwhelmingly prefer hard copies to digital books. Even better, the millennials pay for their books:
Sinking of the General Belgrano – Falklands War Documentary
Historigraph
Published 30 Apr 2022Go to https://squarespace.com/historigraph to get a free trial and 10% off your first purchase of a website or domain.
Falklands War series:
[1] Invasion of the Falklands https://youtu.be/BUYp3Wqz00A
[2] Recapture of South Georgia https://youtu.be/4mCZBpX4pxsTo help support the creation of more videos, consider supporting on Patreon:
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Max Hastings & Simon Jenkins, Battle for the Falklands
https://archive.org/details/battlefor…
Martin Middlebrook, Operation Corporate
Martin Middlebrook, Battle for the Malvinas
Mike Norman, The Falklands War There and Back Again: The Story of Naval Party 8901
Kenneth Privratsky, Logistics in the Falklands War
Sandy Woodward, One Hundred Days
Paul Brown, Abandon Ship
Julian Thompson, No Picnic
John Shields, Air Power in the Falklands Conflict
Edward Hampshire, The Falklands Naval Campaign 1982
Hugh McManners, Forgotten Voices of the Falklands
Cedric Delves, Across an Angry Sea: The SAS in the Falklands War
Rowland White, Vulcan 607
Vernon Bogdanor, “The Falklands War 1982” lecture https://www.youtube.com/watch?v=a9bWw…
Arthur Gavshon, The sinking of the Belgrano https://archive.org/details/sinkingof…
Gordon Smith, Battle Atlas of the Falklands War 1982 by Land, Sea and Air
http://www.naval-history.net/NAVAL198…
Hansard- https://api.parliament.uk/historic-ha…
Recording of Thatcher’s statement to the Commons is from https://www.youtube.com/watch?v=HvbhV…Music Credits:
“Rynos Theme” Kevin MacLeod (incompetech.com)
Licensed under Creative Commons: By Attribution 4.0 License
http://creativecommons.org/licenses/b…“Crypto” Kevin MacLeod (incompetech.com)
Licensed under Creative Commons: By Attribution 4.0 License
http://creativecommons.org/licenses/b…“Stay the Course” Kevin MacLeod (incompetech.com)
Licensed under Creative Commons: By Attribution 4.0 License
http://creativecommons.org/licenses/b…Other music and SFX from Epidemic Sound
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The Victorian-era “guarantee fund” model for risky enterprises
In the latest Age of Inventions newsletter, Anton Howes wonders why we don’t have a modern equivalent to the funding mechanism that helped create the Great Exhibition of 1851 and other events that provided benefits to the public without government backing:
The Crystal Palace from the northeast during the Great Exhibition of 1851.
Image from the 1852 book Dickinsons’ comprehensive pictures of the Great Exhibition of 1851 via Wikimedia Commons.
As I’ve mentioned before, exhibitions of industry were not just celebrations of technological progress, but could become engines for progress as well. For the inventors, artists, and engineers who exhibited, the events were a direct inducement to improvement. And for the public who visited, the events exposed them to what was possible, encouraging them to raise their demands as both consumers and citizens, ideally inspiring them to become future innovators too.
But how was it all paid for? Unlike its national-level precursors in France, the Great Exhibition was not a state-run event. Even more remarkably, its organisers also failed to raise anywhere near enough private subscriptions to cover their costs. Instead, they used something that called a “guarantee fund”.
Instead of asking for donations from supporters up-front, the organisers asked them to commit to covering the exhibitions potential losses up to certain amounts — to be paid only if the money was required. Based on the security provided by this crowdsourced guarantee fund, the organisers then raised an ordinary bank loan in order to get the cash they needed to actually hold the event. Crucially, the guarantors didn’t actually have to spend anything unless the event made a loss, and if the event broke even or even made a surplus thanks to ticket fees, then they would never spend a penny at all. (Luckily for them, that’s exactly what happened in 1851, and for many later exhibitions too.)
What’s interesting to me about the guarantee fund is that I can’t quite think of anything quite like it today. There are perhaps more individualised versions of it, like when a neighbour or friend acts as a guarantor for a mortgage. And governments sometimes provide guarantees for certain sectors or industries too. There have also been a few profit-making versions of it in certain industries, where the guarantors potentially get some share of the upside too (“Names” at the Lloyds of London insurance and reinsurance market sounds similar, though even these are disappearing). But I’ve not seen anything like what the Victorians did, essentially using a guarantee fund to leverage philanthropy.
This is surprising to me. It seems like it has a lot of major advantages, especially for those who might want to replicate the exhibitions of industry today, or indeed for any kind of capital-intensive philanthropic endeavour that could eventually be expected in some measure to pay for itself. (I can’t help but think it would be useful in efforts to speed up the de-carbonisation of the economy, for example — a potential application that I’ve been exploring in my conversations with the people at Carbon Upcycling.)
Consider that with a guarantee fund anyone able to afford the risk could considerably increase the philanthropic value of their assets. Say that you could afford to donate £100 right away, but could donate three times that amount at a pinch (e.g. by having to liquidate some funds in shares). You could thus guarantee £100 each to three different causes, potentially without ever actually having to donate it, and knowing that in the worst case scenario you would never have to spend more than the £300 you can afford.
After all, those signing up to the guarantee fund essentially chose what their maximum liability would be if the event were to make a loss. If they were confident in the event’s success, then they probably believed that they would not have to pay anything at all. And if not, they had at least named the maximum donation they might eventually be asked to give.
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Various Guns – Bren Gun (1940)
British Pathé
Published 13 Apr 2014Various guns – Bren gun.
Item on the Bren Gun. L/S parachutists falling to earth. After seeing various machine guns of the recent past, including the Browning BAR and French Chauchat machine gun, we see the manufacture and firing of the Bren gun. There is also a diagrammatic sequence showing the workings of the gas operated machine gun.
FILM ID:1292.13A VIDEO FROM BRITISH PATHÉ. EXPLORE OUR ONLINE CHANNEL, BRITISH PATHÉ TV. IT’S FULL OF GREAT DOCUMENTARIES, FASCINATING INTERVIEWS, AND CLASSIC MOVIES. http://www.britishpathe.tv/
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British Pathé also represents the Reuters historical collection, which includes more than 136,000 items from the news agencies Gaumont Graphic (1910-1932), Empire News Bulletin (1926-1930), British Paramount (1931-1957), and Gaumont British (1934-1959), as well as Visnews content from 1957 to the end of 1984. All footage can be viewed on the British Pathé website. https://www.britishpathe.com/
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QotD: How Thomas Sowell abandoned Marxism
The brilliant Thomas Sowell, when in college, considered himself a Marxist. Asked what changed him, Sowell said, “Evidence.”
After completing undergrad at Harvard and obtaining a master’s in economics, Sowell landed a summer internship with the Department of Labor. While there, he researched the impact of minimum wage law on employment. Sowell learned two things, both of which he found startling. First, minimum wage laws create job loss by pricing the unskilled out of the labor force. Second, Sowell discovered that “the people in the labor department really were not interested in that, because the administration of the minimum wage was supplying one-third of the money that was keeping the labor department going. … I realized that institutions have their own agendas and their own incentives.” In short, Sowell found that the Department of Labor did not care about the real-world effects of the minimum wage law. He credits this experience, this search for evidence, with having the “biggest” impact on his thinking.
Larry Elder, “If $15 Minimum Wage Is Such a Good Idea, Why Did AOC’s Bar Close Down?”, TownHall.com, 2019-03-21.
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