… I revere Classical Antiquity. But, once your eyes adjust, and you look below the glittering surface, you see that it wasn’t a time any reasonable person would choose to be alive. The Greeks were a collection of ethnocentric tribes who fought and killed each other till they nearly died out. The Roman Empire was held together by a vampire bureaucracy directed more often than in any European state since then by idiots or lunatics. Life was jolly enough for the privileged two or three per cent. But everything they had was got from the enslavement or fiscal exploitation of everyone else.
Now, while the Roman State grew steadily worse until the collapse of its Western half, the Eastern half that remained went into reverse. The more Byzantine the Eastern Roman Empire became, the less awful it was for ordinary people. This is why it lasted another thousand years. The consensus of educated opinion used to be that it survived by accident. Even without looking at the evidence, this doesn’t seem likely. In fact, during the seventh century, the Empire faced three challenges. First, there was the combined assault of the Persians from the east and the Avars and Slavs from the north. Though the Balkans and much of the East were temporarily lost, the Persians were annihilated. Then a few years after the victory celebrations in Jerusalem, Islam burst into the world. Syria and Egypt were overrun at once. North Africa followed. But the Home Provinces — these being roughly the territory of modern Turkey — held firm. The Arabs could sometimes invade, and occasionally devastate. They couldn’t conquer.
One of the few certain lessons that History teaches is that, when it goes on the warpath, you don’t face down Islam by accident. More often than not, you don’t face it down at all. In the 630s, the Arabs took what remained of the Persian Empire in a single campaign. Despite immensely long chains of supply and command, they took Spain within a dozen years. Yet, repeatedly and with their entire force, they beat against the Home Provinces of the Byzantine Empire. Each time, they were thrown back with catastrophic losses. The Byzantines never lost overall control of the sea. Eventually, they hit back, retaking large parts of Syria. More than once, the Caliphs were forced to pay tribute. You don’t manage this by accident.
The Byzantine historians themselves are disappointingly vague about the seventh and eight centuries. Our only evidence for what happened comes from the description of established facts in the tenth century. As early as the seventh century, though, the Byzantine State pulled off the miracle of reforming itself internally while fighting a war of survival on every frontier. Large parts of the bureaucracy were scrapped. Taxes were cut. The silver coinage was stabilised. Above all, the great senatorial estates of the Later Roman Empire were broken up. Land was given to the peasants in return for military service. In the West, the Goths and Franks and Lombards had moved among populations of disarmed tax-slaves. Not surprisingly, no one raised a hand against them. Time and again, the Arabs smashed against a wall of armed freeholders. A few generations after losing Syria and Egypt, the Byzantine Empire was the richest and most powerful state in the known world.
Richard Blake, “The Joys of Writing Byzantine Historical Fiction”, Libertarian Enterprise, 2014-07-27.
May 27, 2015
QotD: The amazing longevity of the Byzantine Empire
May 26, 2015
QotD: Feminism and marriage
It’s not merely the feminist foot soldiers out in the gender fields that are prime examples of the new feminist lockstep. You see it in the theory end of the business, as well, the sincere striving for what Gandhi called “complete harmony of thought and word and deed.” Recently, Laura Bates, founder of the Everyday Sexism project, wrote an article for The Guardian in which she asked, “Can a woman who’s fought for equality and respect, against sexism and misogyny, become a bride?” Bates laments that the ritual of marriage “is riddled with patriarchal symbolism;” she notes with approval the wedding of some feminist friends in which, concerning the bridal party, “nobody’s role is dictated by their gender;” she lambasts the “sexist undertones” to be found in the traditional throwing of the bouquet; and sums up “The great name conundrum” by declaring that “changing her name erases [the bride’s] identity as a separate individual.” If you want to make a wedding even more exhausting and harried than it already is, go Full Feminist on it.
Daniel Payne, “The Many Fabricated Enemies of Feminists”, The Federalist, 2014-07-22.
May 25, 2015
QotD: Deflation
Deflation occurs when there is not enough currency in circulation to meet the needs of the economy. Here again, the classical definition focuses on falling prices rather than an insufficient currency stock, but deflation is primarily a monetary phenomenon.
It is the economic version of anemia: too little blood is reaching the body. Each unit of the currency goes up in value relative to the goods and services available, but because the stock of currency isn’t growing fast enough, it starves the economy of investment capital. There isn’t enough money to build out existing business, to create new ones, or to hire new workers. (This is in part what happened during the Great Depression of the 1930’s.) Inventories shrink, but new goods aren’t being produced due to the lack of investment capital. Eventually the economy grinds to a halt as production withers away.
Specie currencies are more prone to deflation than fiat currencies for the simple reason that fiat currencies are not based on scarce (and thus valuable) resources like gold, silver, or what have you. There’s only so much gold and silver to go around, and sometimes the supply of bullion can be interrupted for long periods. (Sometimes this is even done deliberately by rival nations or speculators.) Also, because the value of gold and silver is set outside the control of government or authority issuing the currency, it limits the kinds of monetary policy the sovereign can conduct, especially during times of crisis.
Monty, “Inflation, Deflation, and Monetary Policy”, Ace of Spades HQ, 2014-07-11.
May 24, 2015
QotD: Impressions of Dresden
We reached Dresden on the Wednesday evening, and stayed there over the Sunday.
Taking one consideration with another, Dresden, perhaps, is the most attractive town in Germany; but it is a place to be lived in for a while rather than visited. Its museums and galleries, its palaces and gardens, its beautiful and historically rich environment, provide pleasure for a winter, but bewilder for a week. It has not the gaiety of Paris or Vienna, which quickly palls; its charms are more solidly German, and more lasting. It is the Mecca of the musician. For five shillings, in Dresden, you can purchase a stall at the opera house, together, unfortunately, with a strong disinclination ever again to take the trouble of sitting out a performance in any English, French, or, American opera house.
The chief scandal of Dresden still centres round August the Strong, “the Man of Sin,” as Carlyle always called him, who is popularly reputed to have cursed Europe with over a thousand children. Castles where he imprisoned this discarded mistress or that — one of them, who persisted in her claim to a better title, for forty years, it is said, poor lady! The narrow rooms where she ate her heart out and died are still shown. Chateaux, shameful for this deed of infamy or that, lie scattered round the neighbourhood like bones about a battlefield; and most of your guide’s stories are such as the “young person” educated in Germany had best not hear. His life-sized portrait hangs in the fine Zwinger, which he built as an arena for his wild beast fights when the people grew tired of them in the market-place; a beetle-browed, frankly animal man, but with the culture and taste that so often wait upon animalism. Modern Dresden undoubtedly owes much to him.
But what the stranger in Dresden stares at most is, perhaps, its electric trams. These huge vehicles flash through the streets at from ten to twenty miles an hour, taking curves and corners after the manner of an Irish car driver. Everybody travels by them, excepting only officers in uniform, who must not. Ladies in evening dress, going to ball or opera, porters with their baskets, sit side by side. They are all-important in the streets, and everything and everybody makes haste to get out of their way. If you do not get out of their way, and you still happen to be alive when picked up, then on your recovery you are fined for having been in their way. This teaches you to be wary of them.
Jerome K. Jerome, Three Men on the Bummel, 1914.
May 23, 2015
QotD: The tender-minded
Unluckily for the man of tender mind, he is quite incapable of any such easy dismissal of the great plagues and conundrums of existence. It is of the essence of his character that he is too sensitive and sentimental to put them ruthlessly out of his mind: he cannot view even the crunching of a cockroach without feeling the snapping of his own ribs. And it is of the essence of his character that he is unable to escape the delusion of duty — that he can’t rid himself of the notion that, whenever he observes anything in the world that might conceivably be improved, he is commanded by God to make every effort to improve it. In brief, he is a public-spirited man, and the ideal citizen of democratic states. But Nature, it must be obvious, is opposed to democracy — and whoso goes counter to nature must expect to pay the penalty. The tender-minded man pays it by hanging forever upon the cruel hooks of hope, and by fermenting inwardly in incessant indignation. All this, perhaps, explains the notorious ill-humor of uplifters — the wowser touch that is in even the best of them. They dwell so much upon the imperfections of the universe and the weaknesses of man that they end by believing that the universe is altogether out of joint and that every man is a scoundrel and every woman a vampire. Years ago I had a combat with certain eminent reformers of the sex hygiene and vice crusading species, and got out of it a memorable illumination of their private minds. The reform these strange creatures were then advocating was directed against sins of the seventh category, and they proposed to put them down by forcing through legislation of a very harsh and fantastic kind — statutes forbidding any woman, however forbidding, to entertain a man in her apartment without the presence of a third party, statutes providing for the garish lighting of all dark places in the public parks, and so on. In the course of my debates with them I gradually jockeyed them into abandoning all of the arguments they started with, and so brought them down to their fundamental doctrine, to wit, that no woman, without the aid of the police, could be trusted to protect her virtue. I pass as a cynic in Christian circles, but this notion certainly gave me pause. And it was voiced by men who were the fathers of grown and unmarried daughters!
H.L. Mencken, “The Forward-Looker”, Prejudices, Third Series, 1922.
May 22, 2015
May 21, 2015
QotD: Silicon Valley hypocrisies
The point of reviewing these hypocrisies is not to suggest that the rich profit-makers of Silicon Valley are any greedier or more cutthroat than the speculators of Wall Street or the frackers of Texas, but merely that they are judged by quite different standards. Cool — defined by casual dress, hip popular culture, and the loud embrace of green energy, gay marriage, relaxation of drug laws, and other hot-button social issue — means that one can live life as selfishly as he pleases in the concrete by sounding as communitarian as he can in the abstract. Buying jet skis is as crass a self-indulgence as buying an even more expensive all-carbon imported road bike is neat.
If Silicon Valley produced gas and oil, built bulldozers, processed logs, mined bauxite, or grew potatoes, then the administration, academia, Hollywood, and the press would damn its white-male exclusivity, patronization of women, huge material appetites, lack of commitment to racial diversity, concern for ever-greater profits, and seeming indifference to the poor. But they do not, because the denizens of the valley have paid for their indulgences and therefore are free to sin as they please, convinced that their future days in Purgatory can be reduced by a few correct words about Solyndra, Barack Obama, and the war on women.
Practicing cutthroat capitalism while professing cool communitarianism should be a paradox. But in Silicon Valley it is simply smart business. The more money you make, any way you can make it, the more you can find ways of contextualizing it. At first these Silicon Valley contradictions were amusing, then they were grating, and now they are mostly just pathetic.
Victor Davis Hanson, “The Valley of the Shadow: How mansion-dwelling, carbon-spewing cutthroat capitalists can still be politically correct”, National Review, 2014-07-22.
May 20, 2015
QotD: The forward-looker
You know the type as well as I do. Give the forward-looker the direct primary, and he demands the short ballot. Give him the initiative and referendum, and he bawls for the recall of judges. Give him Christian Science, and he proceeds to the swamis and yogis. Give him the Mann Act, and he wants laws providing for the castration of fornicators. Give him Prohibition, and he launches a new crusade against cigarettes, coffee, jazz, and custard pies.
I have a wide acquaintance among such sad, mad, glad folks, and know some of them very well. It is my belief that the majority of them are absolutely honest — that they believe as fully in their baroque gospels as I believe in the dishonesty of politicians — that their myriad and amazing faiths sit upon them as heavily as the fear of hell sits upon a Methodist deacon who has degraded the vestry-room to carnal uses. All that may be justly said against them is that they are chronically full of hope, and hence chronically uneasy and indignant — that they belong to the less sinful and comfortable of the two grand divisions of the human race. Call them the tender-minded, as the late William James used to do, and you have pretty well described them. They are, on the one hand, pathologically sensitive to the sorrows of the world, and, on the other hand, pathologically susceptible to the eloquence of quacks. What seems to lie in all of them is the doctrine that evils so vast as those they see about them must and will be laid — that it would be an insult to a just God to think of them as permanent and irremediable.
H.L. Mencken, “The Forward-Looker”, Prejudices, Third Series, 1922.
May 19, 2015
QotD: The iron law of bureaucrats
I should say I’m no free-speech absolutist. I think the notion that we should treat pole dancing like constitutionally protected speech while we try to ban actual political speech is just one of the loopiest manifestations of our popular confusion over the First Amendment. In fact, government support for the arts doesn’t offend me in theory, it’s just how they do it in practice that bothers me.
Specifically, I cannot stand the way New Class bureaucrats think they must be autonomous from the taxpayers who pay their salaries. Imagine if we lived in anything like the “Christianist” theocracy so many lefties live in quaking fear of. Evangelical bureaucrats would likely fund art they liked. The professional Bohemians would shriek — with some justification — that the state was imposing its values on the rest of us. But when those same people are in driving the gravy train, they think there’s nothing wrong — and everything right — with imposing their values.
Of course, this is a problem that extends far beyond outposts like the National Endowment for the Arts (NEA). Public teachers’ unions and ed-school priests hate the idea that parents and other taxpayers should have a real say in how education money is spent. Bureaucrats in general have become a kind of secular aristocracy that resents second-guessing by the people who fund their will-to-power.
When voters say that bureaucrats shouldn’t spend money on X, the bureaucrats shriek “censorship!” But it is only the equivalent of censorship if you work from the assumption that it’s all the government’s money anyhow. As Bill Clinton once said about the federal surplus, “We could give it all back to you and hope you spend it right.” But if we did, alas, not enough of you would spend it on urophagic art.
Jonah Goldberg, “Bureaucrats Use Taxpayer Money to Subsidize Their Own Values — and No One Else’s”, National Review, 2015-05-09.
May 18, 2015
QotD: Inflation
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.
May 17, 2015
QotD: Taming the wilds in Germany
Your German is not averse even to wild scenery, provided it be not too wild. But if he consider it too savage, he sets to work to tame it. I remember, in the neighbourhood of Dresden, discovering a picturesque and narrow valley leading down towards the Elbe. The winding roadway ran beside a mountain torrent, which for a mile or so fretted and foamed over rocks and boulders between wood-covered banks. I followed it enchanted until, turning a corner, I suddenly came across a gang of eighty or a hundred workmen. They were busy tidying up that valley, and making that stream respectable. All the stones that were impeding the course of the water they were carefully picking out and carting away. The bank on either side they were bricking up and cementing. The overhanging trees and bushes, the tangled vines and creepers they were rooting up and trimming down. A little further I came upon the finished work — the mountain valley as it ought to be, according to German ideas. The water, now a broad, sluggish stream, flowed over a level, gravelly bed, between two walls crowned with stone coping. At every hundred yards it gently descended down three shallow wooden platforms. For a space on either side the ground had been cleared, and at regular intervals young poplars planted. Each sapling was protected by a shield of wickerwork and bossed by an iron rod. In the course of a couple of years it is the hope of the local council to have “finished” that valley throughout its entire length, and made it fit for a tidy-minded lover of German nature to walk in. There will be a seat every fifty yards, a police notice every hundred, and a restaurant every half-mile.
They are doing the same from the Memel to the Rhine. They are just tidying up the country. I remember well the Wehrthal. It was once the most romantic ravine to be found in the Black Forest. The last time I walked down it some hundreds of Italian workmen were encamped there hard at work, training the wild little Wehr the way it should go, bricking the banks for it here, blasting the rocks for it there, making cement steps for it down which it can travel soberly and without fuss.
For in Germany there is no nonsense talked about untrammelled nature. In Germany nature has got to behave herself, and not set a bad example to the children. A German poet, noticing waters coming down as Southey describes, somewhat inexactly, the waters coming down at Lodore, would be too shocked to stop and write alliterative verse about them. He would hurry away, and at once report them to the police. Then their foaming and their shrieking would be of short duration.
“Now then, now then, what’s all this about?” the voice of German authority would say severely to the waters. “We can’t have this sort of thing, you know. Come down quietly, can’t you? Where do you think you are?”
And the local German council would provide those waters with zinc pipes and wooden troughs, and a corkscrew staircase, and show them how to come down sensibly, in the German manner.
It is a tidy land is Germany.
Jerome K. Jerome, Three Men on the Bummel, 1914.
May 16, 2015
QotD: The true nature of government
The governments of these United States, from the federal to the local level, have managed to insinuate themselves between citizens and their property at every point of significance. In that, our governments are very much like most other governments, liberal and illiberal, democratic and undemocratic. We have allowed ourselves to be in effect converted from a nation of owners to a nation of renters. But while medieval serfs had only the one landlord, we have a rogue’s gallery of them: the local school board, the criminals at the IRS, the vehicle-registry office, etc. Never-ending property taxes ensure that as a matter of economic function, you never really own your house — you rent it from the government. Vehicle registration fees and, in some jurisdiction, outright taxes on automobile ownership ensure in precisely the same way that you never really own your car: You rent it from the government. Stock portfolio? Held at the sufferance of politicians. A profitable business? You’ll keep what income they decide you can keep. Your own body? Not yours — not if you use it for profitable labor.
A Who down in Whoville? You should be so lucky: Welcome to Whomville, peon.
Kevin D. Williamson, “Property and Peace”, National Review, 2014-07-20.
May 15, 2015
QotD: Portuguese genetics
On the face of it it sounds like the nice narrative we are fed every time something like this happens. I haven’t been following the international scene, and frankly it wouldn’t even surprise me if Europe headed for nativism and blood-related nationality. It is what is at the basis of their nation states (even if it’s often a lie. For instance I’d hazard that a lot of people in Portugal — yes, d*mn it, I’ll do the DNA testing. Let the house sell and let me have some money first — are as mixed as Americans. My kids call Portugal the reservoir tip at the end of Europe, which is unkind but somewhat accurate since that portion of land was part of the Celtic commonwealth, before being invaded by Carthaginians, Greeks, Romans, Germanic tribes, Moors (though their contribution in the North is minimal as the North was usually administered by overseers with little or no actual colonization) French crusaders, Viking raiders. Then there were British and Irish merchants due to ties going back before the Carthaginians who would set up trading posts, send their younger sons over, sometimes engage in a bit of raiding, etc. There are unkind proverbs about blue eyed Portuguese, but there are also a lot of them. (Two of my grandparents. A third was green eyed.) And in the end sometimes I think all of us are the result of some girl who tripped (on purpose or not) while evading a foreigner. All this to say that when my dad talks of the “The Portuguese Race” (and boy, does he) he’s mostly talking of a mythical entity. But it’s one they all believe in as hard as they can.)
Sarah A. Hoyt, “Multiculturalism IS Racism”, According to Hoyt, 2015-04-04.
May 14, 2015
QotD: The value of poetry
Once, after plowing through sixty or seventy volumes of bad verse, I described myself as a poetry-hater. The epithet was and is absurd. The truth is that I enjoy poetry as much as the next man — when the mood is on me. But what mood? The mood, in a few words, of intellectual and spiritual fatigue, the mood of revolt against the insoluble riddle of existence, the mood of disgust and despair. Poetry, then, is a capital medicine. First its sweet music lulls, and then its artful presentation of the beautifully improbable soothes and gives surcease. It is an escape from life, like religion, like enthusiasm, like glimpsing a pretty girl. And to the mere sensuous joy in it, to the mere low delight in getting away from the world for a bit, there is added, if the poetry be good, something vastly better, something reaching out into the realm of the intelligent, to wit, appreciation of good workmanship. A sound sonnet is almost as pleasing an object as a well-written fugue. A pretty lyric, deftly done, has all the technical charm of a fine carving. I think it is craftsmanship that I admire most in the world. Brahms enchants me because he knew his trade perfectly. I like Richard Strauss because he is full of technical ingenuities, because he is a master-workman. Well, who ever heard of a finer craftsman than William Shakespeare? His music was magnificent, he played superbly upon all the common emotions — and he did it magnificently, he did it with an air. No, I am no poetry-hater. But even Shakespeare I most enjoy, not on brisk mornings when I feel fit for any deviltry, but on dreary evenings when my old wounds are troubling me, and some fickle one has just sent back the autographed set of my first editions, and bills are piled up on my desk, and I am too sad to work. Then I mix a stiff dram — and read poetry.
H.L. Mencken, “The Poet and His Art”, Prejudices, Third Series, 1922.
May 13, 2015
QotD: Mono-culture banking
One of the factors in the financial crisis of 2007-2009 that is mentioned too infrequently is the role of banking capital sufficiency standards and exactly how they were written. Folks have said that capital requirements were somehow deregulated or reduced. But in fact the intention had been to tighten them with the Basle II standards and US equivalents. The problem was not some notional deregulation, but in exactly how the regulation was written.
In effect, capital sufficiency standards declared that mortgage-backed securities and government bonds were “risk-free” in the sense that they were counted 100% of their book value in assessing capital sufficiency. Most other sorts of financial instruments and assets had to be discounted in making these calculations. This created a land rush by banks for mortgage-backed securities, since they tended to have better returns than government bonds and still counted as 100% safe.
Without the regulation, one might imagine banks to have a risk-reward tradeoff in a portfolio of more and less risky assets. But the capital standards created a new decision rule: find the highest returning assets that could still count for 100%. They also helped create what in biology we might call a mono-culture. One might expect banks to have varied investment choices and favorites, such that a problem in one class of asset would affect some but not all banks. Regulations helped create a mono-culture where all banks had essentially the same portfolio stuffed with the same one or two types of assets. When just one class of asset sank, the whole industry went into the tank,
Well, we found out that mortgage-backed securities were not in fact risk-free, and many banks and other financial institutions found they had a huge hole blown in their capital.
Warren Meyer, “When Regulation Makes Things Worse — Banking Edition”, Coyote Blog, 2014-07-07.
