“Every man with a bellyful of the classics is an enemy to the human race.”Henry Miller, Tropic of CancerHi, my name is Jim, and I am an enemy to the human race. I first heard about the book Tropic of Cancer way back in high school or college when I learned that it was a book that was banned from being imported into the United States because it was obscene. When it was finally published in the United States in 1961, a series of obscenity lawsuits were brought against stores selling it. The … [Read more...] about The Tedious Tropic of Cancer
Modern Society
Hidden Revolutionaries: Tristram Shandy and Adam Smith
Adam Smith’s The Wealth of Nations suffers from a familiarity bias in the modern world. It is difficult to get people excited about a book that explains how the division of labor leads to specialization and trade which then creates immense wealth. The shocking nature of the work is hidden from us because we all see this every day and thus think of it as nothing particularly revolutionary. A good comparison is provided by Isaac Newton’s Principia. In that … [Read more...] about Hidden Revolutionaries: Tristram Shandy and Adam Smith
How the Fed’s Hubris Has Contributed to Inflation
“Inflation is always and everywhere a monetary phenomenon in the sense that it is and can be produced only by a more rapid increase in the quantity of money than in output.” Milton Friedman’s statement from 1970 should not be controversial; if the amount of money goes up faster than the amount of stuff available to buy, then the inevitable result is higher prices. Yet, to read recent discussions, one would be excused for thinking there is some great mystery surrounding the reason for … [Read more...] about How the Fed’s Hubris Has Contributed to Inflation
Divided We Stand
I would humbly like to submit the following for your consideration as the new National Motto of these United States:The Nation is Always in Decline When was the era when people at the time believed that things were amazing? When was the era when everyone believed that things were as good as could be, that there were no issues of great national disagreement, when peace and happiness prevailed throughout the land? One of the many advantages of reading Old Books is realizing how … [Read more...] about Divided We Stand
The Inherent Virtues of Commerce
"Dear Cleinias, the class of men is small . . . who, when assailed by wants and desires, are able to hold out and observe moderation, and when they might make a great deal of money are sober in their wishes, and prefer a moderate to a large gain. But the mass of mankind are the very opposite: their desires are unbounded, and when they might gain in moderation they prefer gains without limit; wherefore all that relates to retail trade, and merchandise, and the keeping of taverns, is denounced and … [Read more...] about The Inherent Virtues of Commerce
Can Sober Smithians Soften Polarized Partisans?
The centre cannot hold;Mere anarchy is loosed upon the worldYeats’ lines seem to have a particular resonance these days. One of the most frequent laments about the state of modern politics is the rise of polarization. Where, people ask, is the spirit of compromise, the willingness to come together to get things done? Each side blames the polarization on the other. Those who feel trapped in No Man’s Land frequently point to the rise of social media with its separate closed ecosystems. … [Read more...] about Can Sober Smithians Soften Polarized Partisans?