Quotulatiousness

September 27, 2021

Why Were Things So Terrible In the 17th Century – General Crisis Theory

Kings and Generals
Published 26 Sep 2021

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Kings and Generals animated historical documentary series on early modern history and economic history continue with a video on the general crisis theory, as we try to deduce why the 17th century events were so terrible and why so many wars, rebellions, and upheavals happened in this period

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The video was made by EdStudio while the script was researched and written by Turgut Gambar. Narration by Officially Devin (https://www.youtube.com/user/OfficiallyDevin)

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#Documentary #EarlyModern #GeneralCrisis

Britain’s electricity grid facing the inevitable result of over-dependence on “renewable” generation

Filed under: Britain, Economics, Environment, Government — Tags: , , — Nicholas @ 03:00

Peter Hitchens on the grim choices ahead for Britain, as the choice to switch to carbon-free electricity generation has left the country with a less reliable and more expensive grid:

These worrying signs came just after we learned that nothing, apart from luck and prayer, stands between us and a shutdown of our power grid. Our gas reserves are almost gone. We have blown up our coal-fired power stations. We have failed to build new gas-powered plants that should have replaced them. Our ancient nuclear power system is fast wearing out.

So we must rest our hopes on wind that does not always blow and on foreign power that may not arrive when we need it.

Can we even begin to imagine what will happen to us if this all goes wrong? We are far more reliant on electricity than ever before. The computers that govern all we do cannot run on anything else, and if they crash cannot be instantly switched on again.

In response, our allegedly conservative Prime Minister praises the green policies that have created this disaster, and pledges to continue them. And he is applauded for doing so.

We may not be facing The Day Of The Triffids, but we face the Day Of The Nitwits, when 30 years of relentless green zealotry send us spinning into the Third World.

There, we’ll be the only Third World country with a submarine-launched nuclear deterrent – Burkina Faso with rockets, as an old joke about the USSR went.

Once again, I saw this coming. Arguing with the Greta Thunberg lot is like arguing with the Spanish Inquisition. The only thing they want to hear from me is a full confession before they burn me at the stake, using carbon-free fuel.

So rather than contesting their faith, I suggested that our best future lies in non-polluting nuclear power. As long ago as 2006, I urged: “Building nuclear power stations, and making ourselves independent in energy, is at least as important as maintaining a nuclear bomb.” I also pointed out, rather before this was fashionable, that “the Russian threat is to our energy”.

Now, I don’t fantasise about being Prime Minister. The job seems to me to be unrewarding, unhealthy, physically exhausting and surprisingly powerless. But on this occasion I have to say that if I could have seen this in 2006, so could the Government and the Civil Service.

And if serious action had been taken then, we could now have a fleet of modern nuclear power stations that would make us secure in energy, and probably turn us into a power exporter.

Instead, leaders of both parties chose the path of vanity, an unusable Cold War superpower weapon, maintained at impossible cost long after the Cold War ended, and even longer after we ceased to be a superpower.

And they chose the pursuit of green policies – the most all-embracing, dimwit wooden-headed dogma since the death of Communism, without enough sense to take any precautions in case it did not work out.

Update: Link was broken.

September 25, 2021

Will Mars become the equivalent to Earth that India and the East Indies once were for Europe?

Filed under: Economics, Europe, History, India, Space — Tags: , , , , , — Nicholas @ 03:00

In the latest Age of Invention newsletter, Anton Howes goes a long way in both time and space away from his normal Industrial Revolution beat to consider what might happen as humans attempt to colonize Mars:

The first true-colour image generated using the OSIRIS orange (red), green and blue colour filters. The image was acquired on 24 February 2007 at 19:28 CET from a distance of about 240 000 km; image resolution is about 5 km/pixel.
Photo taken by the ESA Rosetta spacecraft during a planetary flyby.

The other week I attended an unconference, which had a session on the implications of establishing colonies on other planets. Although this was largely meant to be about the likely impact on Earth’s natural environment β€” what will be the impact of extracting raw materials from asteroids and other planets? β€” some of the discussion reminded me of the challenges faced by the long-distance explorers, merchants, and colonists of four hundred years ago. There are quite a few parallels I can see between travelling to Mars, say, in a hundred years’ time, and travelling between continents in the age of sail.

For a start, there’s the seasonality and duration of the voyages. European ships headed for the Indian Ocean had to time their voyages around the monsoon season; trips across the Atlantic were limited to just half the year because of hurricanes. Round-trips took years. Similarly, the departure window for a voyage from Earth to Mars only comes around once every 26 months, and even the most optimistic estimates place eventual journey times at about 4-6 months. Supposing that Mars can be permanently settled, any colony there will likely be extremely dependent on the regular arrival of resupply craft. There’s only so long that any group can survive in a hostile environment on their own.

[…]

The Portuguese had once been the only Europeans to trade directly into the Indian Ocean, but the structure of their trade β€” essentially a state-run monopoly with some licensed private merchants β€” was unable to compete with the arrival of the Dutch. The initial Dutch forays into the Indian Ocean in the 1590s had originally been financed by lots of different companies, often associated with particular cities β€” similar to the proliferation of billionaire-led space exploration companies today. But the Dutch soon recognised that such a high-risk trade would only be able to survive if it came with correspondingly high rewards β€” rewards that could only be guaranteed by eliminating domestic competitors (and if possible, foreign ones too). They therefore amalgamated all of the smaller concerns into a single company with a state-granted monopoly on all of the nation’s trade with the region. In this, they actually copied the English model, but then outdid them in terms of the organisation and financing of that company […].

Are we likely to see a similar move towards state-granted monopoly corporations when it comes to space colonisation? I suspect it depends on the potential rewards, and on the strength of the competition. There is certainly precedent for incentivising risky and innovative ventures in this way, through the granting of patent monopolies. Patents for inventions in the English tradition originally even had their roots in patents for exploration. I would not be surprised if such policies end up being used again by countries that are late-comers to the space race, perhaps by granting domestic monopolies over the extraction of resources from particular planets or moons. Although direct state funding can help in being first, like they did for Spain and Portugal in the fifteenth and sixteenth centuries, state-granted monopolies for private actors may again end up being the ideal catch-up tool for laggards, as they were for the English and the Dutch.

How the monopolies are managed will also matter. The English East India Company, for example, was initially more focused on rewarding its shareholders than it was on investing in the full infrastructure with which to dominate a trade route. The Dutch company, by contrast, from the get-go was part of a more coordinated imperial strategy β€” one that sought to systematically rob the Portuguese of their factories and forts, to project force with the aid of the state. Indeed, if there’s one big lesson for the geopolitics of space, it’s that far-flung empires can be extremely fragile, with plenty of opportunities for late-arriving interlopers to take them over.

Although it’s difficult to imagine space colonies being able to become self-sufficient any time soon, it seems likely that those controlled by particular companies or countries may occasionally be persuaded β€” by bribes or by force β€” to defect. What’s to stop them when they’re hundreds of millions of kilometres away from any punishment or help? Ill-provisioned factors, forts, or colonies happily switched sides to whoever might provision them better. As I mentioned last week, such problems curtailed the ambitions of other would-be colonial powers, like the Duchy of Courland and Semigallia. When the Dutch turned up in the Indian Ocean, many of the Portuguese forts they threatened simply surrendered.

I bow to Anton’s far greater historical knowledge in most things, but state monopolies in the 16th to 19th centuries were very different creatures than their potential modern equivalents, and the much more comprehensive degree of state control of the economy now would probably mean that a state monopoly over extraterrestrial activities would be a worst-possible outcome. The greater the powers in the hands of the state, in almost every case, the worse all state-controlled activities have become. The incentives of civil servants are vastly different than those of individuals or businesses and are farcically incompatible with the risk-taking necessary on a dangerous frontier.

September 22, 2021

QotD: Urban bohemians

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

[C]onsider the inchoate American gang identified as “Bohemian” in New York Times rock critic Ann Powers’ new book, Weird Like Me: My Bohemian America. Powers casually links rock music with her version of bohemia, that world of young and not-so-young hipsters living and behaving in nontraditional ways. Rock, she writes, “inspires fans to dye their hair green and wear thigh-high leather boots; to defy their parents, skip school, and tell off the boss; or even, sometimes, to take a new turn and change their lives completely.” Her bohemia is inexorably linked with progressive politics, not holding down a decent job, being kind to gays and minorities, and all else that’s “cool.”

Powers fails to recognize that her bohemia is predicated upon a market liberalism that throws off so much wealth that you can live like a Pharaoh just by scavenging what other people throw out — as she and her slacker buddies did in San Francisco in the ’80s and early ’90s. Her bohemian lifestyle is part of the same system that underwrites free markets, consumerism, and tolerance for all sorts of offensive speech and alternative lifestyles. In other words, the liberty to be bohemian is a glorious result of the very capitalist reality that Powers says a real bohemian must be against.

Brian Doherty, “Rage On: The strange politics of millionaire rock stars”, Reason Online, 2000-10.

Update: Broken link fixed, thanks to “somercet1” for the heads-up.

September 15, 2021

Hansa – Northern Silk Road – Economic History

Kings and Generals
Pubished 14 Sep 2021

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Kings and Generals animated historical documentary series on medieval history and economic history continues with a video on Hansa, also known as the Hanseatic League, which played a crucial role in the European trade in the late medieval, becoming known as the Northern Silk Road and dominating Baltic and North Sea trade for centuries.

Support us on Patreon: http://www.patreon.com/KingsandGenerals or Paypal: http://paypal.me/kingsandgenerals. We are grateful to our patrons and sponsors, who made this video possible: https://docs.google.com/document/d/1o…

The video was made by Michael Merc https://bit.ly/340tcO2 while the script was researched and written by Matt Hollis. 2d art and animation – amicus verus (https://www.artstation.com/amicus_verus). Narration by Officially Devin (https://www.youtube.com/user/OfficiallyDevin)

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September 10, 2021

The German Slave Economy – WW2 Special

Filed under: Economics, Europe, Germany, History, Military, WW2 — Tags: , , , , , , — Nicholas @ 04:00

World War Two
Published 9 Sep 2021

To fuel the German war economy, the Nazis force millions of Prisoners of War, Concentration Camp inmates and civilians from all over Europe to work for in their factories and on their farms as slave laborers under harsh circumstances.
(more…)

September 6, 2021

Why the British Rail Modernisation Plan Failed

Filed under: Britain, Economics, History, Railways — Tags: , , , , , — Nicholas @ 02:00

Ruairidh MacVeigh
Published 27 Feb 2021

Hello again! πŸ˜€

Back to trains, and for this week we discuss one of Britain’s most audacious but ultimately futile projects to revitalise the network in the wake of World War II. However, rather than undertaking a comprehensive rebuild of the network, British Railways was short-changed time and again, ultimately resulting in a facelifted but largely unchanged system that dated back to the Victorian era, though it was much smaller and crippled by far more debt than ever before.

This video was actually a suggestion from an American viewer, who was curious as to why British Rail had such a vast array of diesel locomotives during its early years. πŸ™‚

All video content and images in this production have been provided with permission wherever possible. While I endeavour to ensure that all accreditations properly name the original creator, some of my sources do not list them as they are usually provided by other, unrelated YouTubers. Therefore, if I have mistakenly put the accreditation of “Unknown”, and you are aware of the original creator, please send me a personal message at my Gmail (this is more effective than comments as I am often unable to read all of them): rorymacveigh@gmail.com

The views and opinions expressed in this video are my personal appraisal and are not the views and opinions of any of these individuals or bodies who have kindly supplied me with footage and images.

If you enjoyed this video, why not leave a like, and consider subscribing for more great content coming soon.

Thanks again, everyone, and enjoy! πŸ˜€

References:
– Railways Archive (and their respective sources)
– RMWeb (and their respective sources)
– Wikipedia (and its respective references)

September 2, 2021

Charles Stross predicts that Elon Musk will become a multi-trillionaire

Filed under: Business, Economics, Government, Space, Technology, USA — Tags: , , , , — Nicholas @ 03:00

Charles Stross isn’t exactly a fan of Musk’s, but he outlines why he thinks Musk is on a potentially multi-trillion dollar path:

Elon Musk at the 2015 Tesla Motors annual meeting.
Photo by Steve Jurvetson via Wikimedia Commons.

So, I’m going to talk about Elon Musk again, everybody’s least favourite eccentric billionaire asshole and poster child for the Thomas Edison effect β€” get out in front of a bunch of faceless, hard-working engineers and wave that orchestra conductor’s baton, while providing direction. Because I think he may be on course to become a multi-trillionaire β€” and it has nothing to do with cryptocurrency, NFTs, or colonizing Mars.

This we know: Musk has goals (some of them risible, some of them much more pragmatic), and within the limits of his world-view β€” I’m pretty sure he grew up reading the same right-wing near-future American SF yarns as me β€” he’s fairly predictable. Reportedly he sat down some time around 2000 and made a list of the challenges facing humanity within his anticipated lifetime: roll out solar power, get cars off gasoline, colonize Mars, it’s all there. Emperor of Mars is merely his most-publicized, most outrageous end goal. Everything then feeds into achieving the means to get there. But there are lots of sunk costs to pay for: getting to Mars ain’t cheap, and he can’t count on a government paying his bills (well, not every time). So each step needs to cover its costs.

What will pay for Starship, the mammoth actually-getting-ready-to-fly vehicle that was originally called the “Mars Colony Transporter”?

Starship is gargantuan. Fully fuelled on the pad it will weigh 5000 tons. In fully reusable mode it can put 100-150 tons of cargo into orbit β€” significantly more than a Saturn V or an Energiya, previously the largest launchers ever built. In expendable mode it can lift 250 tons, more than half the mass of the ISS, which was assembled over 20 years from a seemingly endless series of launches of 10-20 ton modules.

Seemingly even crazier, the Starship system is designed for one hour flight turnaround times, comparable to a refueling stop for a long-haul airliner. The mechazilla tower designed to catch descending stages in the last moments of flight and re-stack them on the pad is quite without precedent in the space sector, and yet they’re prototyping the thing. Why would you even do that? Well, it makes no sense if you’re still thinking of this in traditional space launch terms, so let’s stop doing that. Instead it seems to me that SpaceX are trying to achieve something unprecedented with Starship. If it works …

There are no commercial payloads that require a launcher in the 100 ton class, and precious few science missions. Currently the only clear-cut mission is Starship HLS, which NASA are drooling for β€” a derivative of Starship optimized for transporting cargo and crew to the Moon. (It loses the aerodynamic fins and the heat shield, because it’s not coming back to Earth: it gets other modifications to turn it into a Moon truck with a payload in the 100-200 ton range, which is what you need if you’re serious about running a Moon base on the scale of McMurdo station.)

Musk has trailed using early Starship flights to lift Starlink clusters β€” upgrading from the 60 satellites a Falcon 9 can deliver to something over 200 in one shot. But that’s a very limited market

As they say, read the whole thing.

August 29, 2021

The competing English and Dutch East India companies

In his latest Age of Invention newsletter, Anton Howes considers the odd fact that although the Dutch were the last major seafaring power to extend to the East Indies, they quickly became the most powerful European traders and colonialists in the region:

By the mid-seventeenth century, although the trans-Atlantic trades were still almost entirely in the hands of the Spanish, the European trade to the Indian Ocean had come to be dominated by the Dutch β€” which is quite surprising, as they had arrived so late. The high-value exports of the Indian Ocean β€” particularly pepper β€” had anciently arrived via the Red Sea, the Persian Gulf, or overland, and then been bought up in Egypt or Syria by the Venetians and Genoese, who then sold them on to the rest of Europe. It was then the Portuguese who had supplanted that trade in the late fifteenth century by discovering the direct route to the Indian Ocean around the Cape of Good Hope. The Portuguese monopolised the new sea route around Africa for a century, almost totally undisturbed by other Europeans, entrenching their position by building forts β€” occasionally with the permission of local rulers, but often without.

The Portuguese seem to have spread the rumour in Europe that they had effectively conquered the entire region, presumably to dissuade others from even trying to break their monopoly. Even as late as the 1630s, when other nations were already regularly trading there, foreign writers took the time to mock such assertions. As the Welsh-born merchant Lewes Roberts put it, the Portuguese “brag of the conquest of the whole country, which they are in no more possibility entirely to conquer and possess, than the French were to subdue Spain when they possessed of the fort of Perpignan, or the English to be masters of France when they were only sovereigns of Calais.” Quite.

[…]

But for all their tardiness, the Dutch arrival in the Indian Ocean was dramatic. The English may have been the first to threaten the Portuguese monopoly, but in the whole of the 1590s they sent a mere two expeditions out east, and in 1600-10 sent only a further eight (seven by the newly-chartered East India Company (EIC), with a monopoly over English trade with the region, and another voyage licensed to break that monopoly in 1604 by the king, which unhelpfully spoiled the company’s relations with local rulers by turning pirate and plundering Indian and Chinese ships). What the English sent out over the course of twenty years, the Dutch exceeded in just five. Between just 1598 and 1603, after the successful return of de Houtman’s first voyage, they sent out a whopping thirteen fleets β€” and this despite their merchants not even pooling their efforts like the English had until the very end of that period, when in 1602 the various small and city-based Dutch companies were merged to form a single, national joint-stock monopoly, the Verenigde Oost-Indische Compagnie (VOC). The founding of the VOC accelerated the divergence. Between 1613 and 1622 the EIC sent out a paltry 82 ships compared to the VOC’s 201.

The sheer quantity of Dutch ships heading for the Indian Ocean meant that they were soon dominant amongst the European merchants there, capturing forts from the Portuguese, founding further bases of their own, and able to forcibly keep the English out β€” sometimes by attacking the English directly, other times by simply threatening any of their would-be trading partners. The steady stream of Dutch ships also allowed them to resupply and maintain their factors β€” the key infrastructure of long-distance commerce, as I explained in last week’s post for subscribers. They were able to have a presence, and project force, in a way that the English could not. By 1638, Lewes Roberts, despite often lauding England’s commercial achievements, and being an EIC official himself, had to concede that in the Indian Ocean “the English nation are the last and least”.

That English weakness was reflected in how EIC merchants had to comport themselves in the region so as to have any share in the trade at all. Despite the EIC’s later reputation for bloodthirsty rapaciousness, in the early seventeenth century they were highly reliant on good relations with the locals. Whereas the Dutch could often afford to use force and bear the repercussions, the English more or less only held on in the early days by ingratiating themselves with local rulers β€” often by finding common cause against the aggressive and domineering Dutch. The infrequently-supplied English factors were often heavily indebted to local merchants too, including the Indo-Portuguese β€” a group that they often married into, for access to social networks and support. As the historian David Veevers argues in a new overview of the early EIC (a relatively pricey academic book, but compellingly argued and juicy with detail), the English often went further than just friendliness or integration, subordinating themselves to local rulers too. Of the few early forts that the English managed to establish, for example, that at Madras in 1640 was only built because the local ruler encouraged it, treating the English there as his vassals.

August 25, 2021

Louisa May Alcott’s childhood experiences in a utopian socialist commune

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

At the Foundation for Economic Education, Lawrence W. Reed recounts the author’s family’s time in one of the many utopian settlements of the early United States:

The original farm house of Fruitlands farm community in Harvard, Massachusetts, founded by Bronson Alcott and Charles Lane in 1843. Now a museum to the experiment.
Photo by Midnightdreary via Wikimedia Commons.

Alcott was just 11 when her father moved the family to the experimental village of Fruitlands in Massachusetts. It was not a promising place. Elizabeth Dunn at History.com writes,

    Fruitlands was founded in Harvard, Massachusetts, as a self-sufficient farming community by Charles Lane and Bronson Alcott, two men with no practical experience in either farming or self-sufficiency … Settlers were forbidden to eat meat, consume stimulants, use any form of animal labor, create artificial light, enjoy hot baths or drink anything but water. Lane’s ideas later evolved to include celibacy within marriage, which caused no small amount of friction between him and his most loyal disciple, Bronson Alcott, who had relocated his wife and four daughters [Louisa being one of them] to Fruitlands in a characteristic fit of enthusiasm.

At least 119 utopian, communal or socialist settlements were founded in the early 1800s in America. As most of the country reveled in newly won freedoms and a market economy that allowed the enterprising to create wealth, a few malcontents sought a different life. They spurned private property in favor of sharing material things in common. They preferred a “planned” community over the supposed “chaos” of the market’s spontaneous order. They thought if they just worked out on paper what their preferred society would look like, everything and everybody would just fall into place.

Like many idealists, Alcott’s father and many others believed that it was possible to “plan” everything successfully so that nothing was wasted and there was no economic inequality. Like many others since then, they quickly discovered that human nature does not work that way:

Lofty pledges of equality that fell far short of reality. Women, for instance, were promised they would have to work no harder or longer than men, but the Alcott girls were among the Fruitlands women who were stuck with most of the labor.

Goofy, fringe notions about life. At Fruitlands, these notions included a general abstinence not only from sex but from most of what its architects regarded as “worldly activities” β€” like most commerce and trade, the raising of livestock, and the planting of vegetables that grow down (like turnips and carrots) instead of up (like lettuce and tomatoes).

A weird disdain for private property. The mere desire to acquire property for oneself (even by serving others as customers) was regarded as repugnant. Lane and Alcott once visited a nearby settlement of Shakers and while admiring the Shakers’ practice of property held “in common”, they condemned them for engaging in commerce by selling their homemade furniture.

August 23, 2021

QotD: Leaving money in the hands of individuals

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

Here’s the thing: contrary to what the left thinks, when you leave wealth in the hands of the individuals, they don’t just flush it down the toilet or build gigantic bins that they fill with money, in which they go for a refreshing swim every day.

People do things with that money. And even if all they do is buy stuff (thereby allowing someone else to accumulate wealth) or invest it, that money gets aggregated and finds things to do, as it were. Wealth goes to work on things that seem interesting, might be interesting, or are otherwise likely to make money for the individuals who hold the wealth.

Individuals have money to start new businesses that would never have existed if they’d paid that money in taxes. Or they “invest” in free time and a really nice garden, which in turn lifts the spirits of people who invent something because they feel better than they would otherwise.

The left insists that if they leave money in individual hands, it will just be “wasted”. (Because, you know, no money spent on a vast apparatus, most of it a jobs program for useless paper pushers or power-hungry martinets is ever wasted.)

How do they know? Have they tried leaving enough money in the hands of those who earn it to make a difference?

Not in the twentieth century. Though we can infer from the fact that the most sclerotic, dying countries are the highest taxed ones, that perhaps what government considers “best” and what we consider “best” are not the same.

Not just taxes, but regulations too weigh heavily on possibilities. Sure, the left sees “lands saved” (or created. oop) when say, regulations curtail oil drilling. But what I see is energy taking up an excessive amount of every family’s money, wealth that would otherwise be freed for other investments, for starting businesses, even “just” for fun.

The problem we have is that leftists lack utterly in imagination. They see the “pristine” plots of land, or the things government does with our money and they find it good.

But they’re mind’s-eye blind. They can’t see the wealth that has been consumed for almost 100 years now say on the war on poverty to create chronic poverty having instead been used by individuals to create, to invest, to build, so that, in that parallel world in which money stayed in individual hands, we now have interplanetary travel, colonies all over the solar system, and squid farms on Mars that feed all of humanity.

Their lack of vision, their killing of possibilities without the slightest thought to them: That is a tragedy.

Sara Hoyt, “The Tragedy of the Squid Farms on Mars”, Libertarian Enterprise, 2018-12-05.

August 17, 2021

Early American Whiskey

Filed under: Economics, Government, History, USA — Tags: , , , , — Nicholas @ 02:00

Townsends
Published 3 Apr 2017

Today Brian Cushing from Historic Locust Grove takes us on a tour of their new distillery and its history. #townsendswhiskey

Locust Grove Website β–Άβ–Ά http://locustgrove.org/ β–Ά

Help support the channel with Patreon β–Ά https://www.patreon.com/townsend β–Άβ–Ά

Twitter β–Ά @Jas_Townsend
Instagram β–Ά townsends_official

August 14, 2021

English wholesalers, Dutch retailers and the expansion of foreign trade by European sailors

In the latest Age of Invention newsletter, Anton Howes considers the changing nature of English foreign trade as possibly one of the main drivers of the unprecedented growth of London from 1550-1650, and how both English and Dutch sailors differed from most of the rest of Europe:

An English merchant ship of the late 16th to early 17th century: this is a replica of the Susan Constant at the Jamestown Settlement in Virginia. The original ship was built sometime before 1607 and rented by the Virginia Company of London to transport the original settlers to Jamestown.
Photo by Nicholas Russon, March 2004.

I am fairly convinced that this transformation was sparked by the changing nature of England’s trade, with its merchants taking near-total control of it themselves, whereas once they had relied on foreign merchants to bring many of their imports to them. And thanks to their adoption of celestial navigation techniques from the Iberians and Italians β€” learning to read the stars, to find their latitude at sea β€” the English gained the ability to discover new routes, noting details down for others to come back again and again and create more permanent new trades. In merchants’ parlance of the time, the English increasingly went in search of “the well head” β€” to buy things at source, where they were cheapest.

This sounds like the common-sense thing to do. But it was surprisingly rare. Very few countries’ merchants attempted to take advantage of such opportunities for arbitrage β€” to buy where things were cheapest and sell them where they were most expensive. Even the English themselves, despite their newfound search for well heads, rarely exploited arbitrage opportunities to the full. Although they bought at source, they tended, at first, to sell the goods they’d acquired back in London, to serve English consumers rather than taking them to wherever the goods would sell for the highest prices. This was instead the strategy of the Dutch, whose trading techniques were by 1600 said to surpass all others. Indeed, the Dutch were also some of the only merchants who discriminated on prices within markers, “not shaming to retail any commodity by small parts and parcels”, as one English merchant complained, charging a multitude of buyers according to what they thought they could get from them β€” something that “both English merchants and Italians disdain to do in any country whatsoever.” It was seemingly considered beneath them.

I’m not wholly clear why the English only sold wholesale when they knew that price discrimination was a Dutch advantage. It seems, at first, to be irrational. But I suspect it had something to do with the wider difficulties of trading abroad. For the English and Dutch were quite unusual in Europe in the early seventeenth century for being among the only merchants willing to risk sailing to shores where their own rulers held no sway.

The Hanseatic merchants of the North Sea and Baltic, who had once been dominant in London, had been stripped of their privileges there and displaced by the English, later confining themselves largely to the Baltic. German mercantile efforts were otherwise generally concentrated inland. And French merchants were apparently under-capitalised, or so the English suspected, because “gentlemen do not meddle with traffic, because they think such traffic ignoble and base”. French merchants did occasionally sail down the Atlantic coast to Spain, and into the Mediterranean to trade with Italy and the Ottoman Empire, but overall they were content to have third parties to come to them β€” there was always the attraction to foreign merchants of being able to buy French wines, salt, linens, and grain.

As for the once-great Italians, they had apparently been impoverished by the Portuguese discovery of a direct route around Africa to the Indian Ocean, and perhaps by the depredations of various Mediterranean predators too β€” Algerian corsairs, Ottoman galleys, and the like. Although their rulers could themselves be merchants β€” the Grand Duke of Tuscany, a Medici, was considered the greatest merchant of them all β€” by this stage the Italians only rarely ventured far abroad themselves, except over land. Indeed, the English considered them impious for not risking the seas, accusing them of blasphemy for not trusting their lives and livelihoods to God. Whereas the Venetian merchant-nobility had once been required to spend time aboard ship, English commentators by 1600 noticed that their mariners were now overwhelmingly Greek. “Their customs have decayed, their ships rotted and their mariners, the pride of their commonwealth all become poltrones” β€” that is, loafers or idlers β€” “and the worst accounted in all those seas”. A Tuscan exploration of the coast of South America in 1608, to look into founding a colony in what is now French Guiana, had to be captained and piloted by Englishmen. What reputation the Italians maintained was as financiers and money-exchangers β€” perhaps because the Genoese were the only merchants permitted to take the vast quantities of New World silver out of Spain.

August 9, 2021

The modern-day threat of being made an “unperson” is real and very dangerous

Sean Gabb explains why even libertarians need to consider the non-state power in the hands of corporations that can — and does — force people out of their jobs, their homes, and even deprive them of the ability to communicate or to access financial services merely for expressing unpopular opinions. As I said in a different venue, it’s a short step from “no fly lists” to “no eat lists”, especially when the enforcing entity is a nominally private organization:

John Stuart Mill (1806-1873)

The old pressures to conform were wrong. So are the new. And they are wrong simply because they are pressures to conform. I find myself at last appreciating a part of Mill’s essay On Liberty for which I never used to have much time. Until recently, I would insist that the only real oppression was by the State: all else was the working of private choice. If the authorities fined a man Β£5 for having sex with another man, that was outrageous tyranny. If his tastes became public knowledge, and he was unable to find work, that was merely unfortunate. This is, I still believe, essentially true. Indeed, I could argue that, without a State having centralised and corporatised powers of discrimination that ought to be widely distributed, there would be no problem β€” or there would be a problem that was bearable. But these powers were centralised and corporatised a long time ago. They are now being used to achieve a uniformity of opinion outside the home in which the formal organs of compulsion have no obvious part. This is not the “tyranny of the majority” that worried Mill. I find it inconceivable that anything close to a majority could believe the insane drivel pouring from the regime media. Neither, though, is it the kind of oppression against which liberal bills of rights have traditionally been written. Because of this β€”

    when society is itself the tyrant …, its means of tyrannising are not restricted to the acts which it may do by the hands of its political functionaries. Society can and does execute its own mandates: and if it issues wrong mandates instead of right, or any mandates at all in things with which it ought not to meddle, it practises a social tyranny more formidable than many kinds of political oppression, since, though not usually upheld by such extreme penalties, it leaves fewer means of escape, penetrating much more deeply into the details of life, and enslaving the soul itself. Protection, therefore, against the tyranny of the magistrate is not enough: there needs protection also against the tyranny of the prevailing opinion and feeling; against the tendency of society to impose, by other means than civil penalties, its own ideas and practices as rules of conduct on those who dissent from them …

    (J.S. Mill On Liberty, 1859, “Introductory“)

We need protection indeed. But the protection we need is not yet another law telling the police to leave dissidents alone. We already have a stack of these, and they are protections against a threat that largely does not exist. The answer, I suggest, is an amendment to the anti-discrimination laws to outlaw discrimination on the grounds of what may be loosely called political opinion.

I say hardly anyone read my original essay. Sadly, most of those who did read it stand in the more wooden reaches of the libertarian movement, and these set up a cry that I had become a Communist. I was suggesting that private organisations should be coerced in their choices of whom and whom not to employ, and even in their choices of customer and supplier. I had abandoned the non-aggression principle. Here, briefly expressed, is my answer to these claims.

I run the Centre for Ancient Studies. This provides a range of tuition services in Greek and Latin. It is a sole tradership. As such, I reserve the unconditional right to decide what services I offer and to whom. If I dislike the colour of your face, or the status of your foreskin, or your tastes in love, or anything else that I may think relevant, it should be my right not to do business with you. It may be that only a fool turns away customers with money to spend, and I am not that sort of a fool. Even so, I do claim at least the theoretical right, and I ground it on my right to do as I please with my own. But I claim these rights as a human individual. A limited company is not a human individual. Whatever entrepreneurship may exist in them, these companies are artificial persons and creatures of the State. Their owners have the privilege of limited liability. That is, they have the right, in the event of insolvency, not to pay the debts of a company if these are greater than the assets of the company. If this were not a valuable right, there would not be so many limited companies. There are almost no large companies, and none lasting more than a single generation, that do not have limited liability.

This being so, limited companies benefit from a grant of privilege from the State, and are legitimate subjects of regulation by the State for as long as they are receipt of this privilege. No doubt, some forms of state regulation are bad in their objects, or bad as regards the means to their objects. But regulation is not in itself an aggression by the State. It follows that, whether or not we can get it, libertarians should not feel barred from demanding laws to prevent limited companies from discriminating against their employees on the grounds of political opinion, and to require them to do business with customers and suppliers regardless of political opinion.

I appreciate that I am asking for more than the regulation of limited companies. The anti-discrimination laws we have make no distinction between incorporated and unincorporated associations. Even so, the extension of these laws to cover political opinion would mainly affect only the larger limited companies. At the same time, there is an obvious and overriding public interest in the protection of political opinion. People are now scared to speak their minds. Whether intended or just revealed, this is part of the strategy. The reason why the collapse of both freedom and tradition is gathering pace is because no one dares stand up and protest. In the absence of protest, everything will carry on as it is. Given a restored right of protest, there is a chance of stopping the collapse. The only way to lift the blanket of fear that now lies over all but approved opinion is somehow or other to get a law making it clear that no one who speaks his mind can be loaded with shadow punishments.

“Somehow or other!” In a sense, I am making a fool of myself. I am asking the politicians to make a law against what they themselves may not be doing, but that has no effect on their main reason for being in politics, which is to fill their pockets. I am asking them to take on the entire mass of the non-elected Establishment. I am asking a lot of these people. On the other hand, the politicians still need to be elected, and that was the weak point in the Establishment’s plan to stay in the European Union. We had to spend four years voting and revoting, but we did eventually get what we wanted. It is conceivable that, if enough of us call loudly enough for protection, some kind of protection will be granted.

Short of that, we are lost.

August 7, 2021

The Black Markets of World War Two – WW2 – On the Homefront 012

World War Two
Published 6 Aug 2021

With the scarce food supply brought about by war, many turn to the black market and its astronomic prices as supplements. It is a place for opportunists and patriotic protesters, but mainly it’s a means to survive.
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