Quotulatiousness

November 22, 2023

Another look at the “Great Divergence”

Filed under: Books, Economics, Europe, History — Tags: , , , , , — Nicholas @ 04:00

The latest book review from Mr. and Mrs. Psmith’s Bookshelf features Patrick Wyman’s The Verge: Reformation, Renaissance, and Forty Years that Shook the World:

This is a weird Substack featuring an eclectic selection of books, but one of our recurring interests is the Great Divergence: why and how did the otherwise perfectly normal people living in the northwestern corner of Eurasia managed to become overwhelmingly wealthier and more powerful than any other group in human history? We’ve covered a few theories about what’s behind it — not marrying your cousins, coal, the analytic mindset (twice) — but there are lots of others we’ve never touched, including geographic and thus political fragmentation, proximity to the New World, and even the Black Death. So this is also a book about the Great Divergence, but unlike many of the others it doesn’t offer One Weird Trick to explain things. Instead, Wyman approaches the period between 1490 and 1530 through nine people, each of whom exemplifies one of the many shifts in European society, and so paints a portrait of a changing world.

Of course, he does point to a common thread woven through many of the changes: culture. Or, more specifically, the institutions1 surrounding money and credit that Europeans had spent the last few hundred years developing. But these weren’t themselves dispositive: after all, lots of people in lots of place at lots of times have been able to mobilize capital, and most of them don’t produce graphs that look like this. Really, the secret ingredient was — as Harold Macmillan said of the greatest challenge to his government — “events, dear boy, events”.2 Europe between 1490 to 1530 saw an unusually large number of innovations and opportunities for large-scale, capital-intensive undertakings, and already had the economic institutions in place to take advantage of them. One disruption fed on the next in a mutually-reinforcing process of social, political, religious, economic, and technological change that (Wyman argues) set Europe on the path towards global dominance.

Some of Wyman’s characters — Columbus, Martin Luther, Holy Roman Emperor Charles V — are intensely familiar, but he presents them with verve, as interested in giving you a feel for the individual and their world as in conveying biographical detail. (This is an underrated goal in the writing of history, but really invaluable; the “Cross Section: View from …” chapters were always my favorite part of Jacques Barzun’s idiosyncratic doorstopper From Dawn to Decadence.) This is particularly welcome when it comes to the chapters featuring some lesser-known figures: you may have heard of Jakob Fugger, but unless you’re a Wimsey-level fan of incunabula you’re probably unfamiliar with Aldus Manutius. One-handed man-at-arms Götz von Berlichingen becomes our lens for the chapter about the Military Revolution not because he played a particularly significant role but because he wrote a memoir, and small-time English wool merchant John Heritage is notable pretty much solely because his account book happened to survive into the present. But even with the stories “everyone knows”, Wyman takes several large steps back in order to contextualize that common knowledge: for example, were you aware that while before 1492 Columbus didn’t take any particularly unusual voyages, he did take an unparalleled number and variety of them, making him one of the best-travelled Atlantic sailors of his day? Did you know that Isabella’s inheritance of the Castilian throne was far from certain?3

As the book continues, Wyman can reference the cultural and technological shifts he described in earlier chapters. For instance, much of the Fuggers’ wealth came in the form of silver from deep new mines in the Tyrol. Building the mines required substantial capital — for their new, deeper tunnels and the expensive pumps to drain them, as well as for the furnaces and workshops to separate the copper from the silver via the relatively inefficient liquation process — and while everyone knew all along that the metals were there, it took the combination of a continent-wide bullion shortage and a rising demand for copper to cast bronze cannon (look back to the chapters on state formation and the military!) to make it worth anyone’s while to get them out. But it wasn’t only the Fuggers who made their money in these new mines: the money for Martin Luther’s education came from his father’s small-scale copper mining concern in eastern Germany. Grammar school in his hometown, a parish school nearby, and then four years at university cost Luther pater enough that he couldn’t follow it up for his younger sons (and from his point of view the was probably squandered when Martin became a monk instead of the intended lawyer who would be an asset in the frequent mining disputes), but such an education for even one son would have been out of reach if not for the printed texts on grammar, philosophy and law that made it all far more affordable.

Of course, the relationship between Luther and printing goes both ways. While Luther’s very existence as an educated man was enabled by the printing press, it was the intellectual and religious ferment he would kick off that made printing work.


    1. Wyman glosses the term as “a shared understanding of the rules of a particular game … the systems, beliefs, norms and organizations that drive people to behave in particular way”, but it’s more or less what I’ve elsewhere called bundles of social technologies.

    2. Apparently he may not have said this, but he should have so print the legend.

    3. Isabella’s opponent, her half-niece Joanna, was married to King Afonso V of Portugal, so perhaps some degree of Iberian unification might still have followed. On the other hand, Afonso already had an adult son (King João II, widely admired as “the Perfect Prince” — Isabella always referred to him simply as el Hombre, “the Man”) who would have had no personal claim to Castile. Joanna and Afonso’s marriage was annulled on the perfectly true grounds of consanguinity — he was her uncle — after they lost the war, so they never had children, but if she had won perhaps João (who died without legitimate issue) could have been succeeded by a much younger half-Castilian half-brother. Certainly an Isabella relegated to Queen-Consort of Aragon would still have been a force to be reckoned with, but losing the knock-on effects of her reign (Columbus, Granada, the fate of the Sephardim, not to mention the eventual unification of most of Europe under Ferdinand and Isabella’s Habsburg grandson) makes all this a pretty good setup for an alternate history!

    Even more fun: before she married Ferdinand of Aragon, there was discussion of Isabella’s betrothal to Richard, Duke of Gloucester. Yeah, that one.

“[T]he Tudors were indeed pretty awful, and that the writers who lived under this dynasty did serve as propagandists”

Filed under: Books, Britain, History — Tags: , , , , , , — Nicholas @ 03:00

I quite like a lot of what Ed West covers at Wrong Side of History, but I’m not convinced by his summary of the character of King Richard III nor do I believe him guilty of murdering his nephews, the famed “Princes in the Tower”:

As Robert Tombs put it in The English and their History, no other country but England turned its national history into a popular drama before the age of cinema. This was largely thanks to William Shakespeare’s series of plays, eight histories charting the country’s dynastic conflict from 1399 to 1485, starting with the overthrow of the paranoid Richard II and climaxing with the War of the Roses.

This second part of the Henriad covered a 30-year period with an absurdly high body count – three kings died violently, seven royal princes were killed in battle, and five more executed or murdered; 31 peers or their heirs also fell in the field, and 20 others were put to death.

And in this epic national story, the role of the greatest villain is reserved for the last of the Plantagenets, Richard III, the hunchbacked child-killer whose defeat at Bosworth in 1485 ended the conflict (sort of).

Yet despite this, no monarch in English history retains such a fan base, a devoted band of followers who continue to proclaim his innocence, despite all the evidence to the contrary — the Ricardians.

One of the most furious responses I ever provoked as a writer was a piece I wrote for the Catholic Herald calling Richard III fans “medieval 9/11 truthers”. This led to a couple of blogposts and several emails, and even an angry phone call from a historian who said I had maligned the monarch.

This was in the lead up to Richard III’s reburial in Leicester Cathedral, two and a half years after the former king’s skeleton was found in a car park in the city, in part thanks to the work of historian Philippa Langley. It was a huge event for Ricardians, many of whom managed to get seats in the service, broadcast on Channel 4.

Apparently Philippa Langly’s latest project — which is what I assume raised Ed’s ire again — is a new book and Channel 4 documentary in which she makes the case for the Princes’ survival after Richard’s reign although (not having read the book) I’d be wary of accepting that they each attempted to re-take the throne in the guises of Lambert Simnel and Perkin Warbeck.

The Ricardian movement dates back to Sir George Buck’s revisionist The History of King Richard the Third, written in the early 17th century. Buck had been an envoy for Elizabeth I but did not publish his work in his lifetime, the book only seeing the light of day a few decades later.

Certainly, Richard had his fans. Jane Austen wrote in her The History of England that “The Character of this Prince has been in general very severely treated by Historians, but as he was a York, I am rather inclined to suppose him a very respectable Man”.

But the movement really began in the early 20th century with the Fellowship of the White Boar, named after the king’s emblem, now the Richard III Society.

It received a huge boost with Josephine Tey’s bestselling 1951 novel The Daughter of Time in which a modern detective manages to prove Richard innocence. Paul Murray Kendall’s Richard the Third, published four years later, was probably the most influential non-fiction account to take a sympathetic view, although there are numerous others.

One reason for Richard’s bizarre popularity is that the Tudors were indeed pretty awful, and that the writers who lived under this dynasty did serve as propagandists.

Writers tend to serve the interests of the ruling class. In the years following Richard III’s death John Rous said of the previous king that “Richard spent two whole years in his mother’s womb and came out with a full set of teeth and hair streaming to his shoulders”. Rous called him “monster and tyrant, born under a hostile star and perishing like Antichrist”.

However, when Richard was alive the same John Rous was writing glowing stuff about him, reporting that “at Woodstock … Richard graciously eased the sore hearts of the inhabitants” by giving back common lands that had been taken by his brother and the king, when offered money, said he would rather have their hearts.

Certainly, there was propaganda. As well as the death of Clarence, William Shakespeare — under the patronage of Henry Tudor’s granddaughter — also implicated Richard in the killing the Duke of Somerset at St. Albans, when he was a two-year-old. The playwright has him telling his father: “Heart, be wrathful still: Priests pray for enemies, but princes kill”. So it’s understandable why historians might not believe everything the Bard wrote about him.

I must admit to a bias here, as I wrote back in 2011:

In the interests of full disclosure, I should point out that I portrayed the Earl of Northumberland in the 1983 re-enactment of the coronation of Richard III (at the Cathedral Church of St. James in Toronto) on local TV, and I portrayed the Earl of Lincoln in the (non-televised) version on the actual anniversary date. You could say I’m biased in favour of the revisionist view of the character of good King Richard.

Marginal Thinking and the Sunk Cost Fallacy

Filed under: Business, Education — Tags: — Nicholas @ 02:00

Marginal Revolution University
Published 1 Aug 2023

Thinking on the margin is one of the most fundamental concepts in economics – and a valuable everyday tool for making optimal decisions.

For such an important idea, the meaning of marginal thinking is surprisingly simple: when faced with a decision, you should compare the marginal benefit of a possible action to its marginal cost. If the marginal benefit is greater than the marginal cost, do it!

Marginal thinking is best illustrated by some examples of everyday decisions. The volume you choose when you watch TV, the pricing strategy of a clothing shop, or even the decision to walk out of a boring film are all informed by marginal thinking.

The “Sunk Cost Fallacy” is a common failure to apply marginal thinking. Focusing on past decisions – the price we paid for an item, the time we’ve already invested in a relationship – can lead us astray. We can’t change the past, so only the potential marginal benefit and marginal cost of the next possible action are relevant to decision-making.
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QotD: American universities, “sportsball”, and wealthy alumni

It is, or at least used to be, a truth universally acknowledged, that the Athletic Department was the only bastion of sanity left in higher “education”. I love watching Marxists squirm, so the start of football season was always my favorite time back in my professin’ days. Every year, the doofus Marxoid faculty would write their annual complaint about sportsball — “not germane to the purpose of a university”; “takes away too many resources from academics”; “toxic masculinity” and so forth — and every year, the President and Board of Trustees would tell the eggheads to go pound sand.

NOT, I hasten to add, because the Prez and the Trustees (hereafter: The Administration) were some kind of normal folks. Oh God no — quite the opposite, in fact. No open conservative has been hired to any position in academia for the past thirty, forty years; to make it into the ranks of The Administration, you have to be #woker than #woke. Rather, it was because The Administration were among the few mortals privy to the college’s balance sheet. Seriously, those things are more closely guarded than our nuclear launch codes … but The Administration sees them, and draws the only possible conclusion: Without sportsball, the whole university system is toast.

But alas for the bottom line, Intersectionality is a jealous god, and xzhey will have none before xzhem. The Administration knows — they must know, they can’t not know — that all the stuff that makes big league college football go comes from “boosters”, i.e. rich idiots with way more money than sense, and their corporations. But since The Administration is full of even dumber Marxists than the faculty — yeah yeah, I know, I didn’t think it was possible either — they’ve apparently decided to assume, in true Leftist style, that since the money has always just kinda, you know, been there, it will continue to, you know, somehow, someway, continue to be there.

I mean, what are those rich oilmen from Texas gonna do, not watch football?

Severian, “Ludicrous Speed Update: The NCAA”, Rotten Chestnuts, 2021-04-14.

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