Sigrid Undset Crosses Russia

Return to the Future 01

Seeing things plain, not lying to oneself, not subscribing to the delusions of others – these virtues, seemingly so simple, prove in life difficult to achieve and tricky to exercise.  An inevitable imitative pressure assimilates people to one another so that mere opinion, received but never vetted, comes to function as a surrogate reality, in the cave-like error of which people stumble about their errands in a lurching mockery of witting behavior.  The ancients worried about false or second-hand judgment (doxa) or about superstition.  Modern people must grapple with ideology.  The critique of ideology is the single most important exercise that an individual can undertake who wants to stand in truth and by his own lights against the conformist pressure of public opinion, or what dissenters nowadays call political correctness.  But this endeavor is complicated by the fact that contemporary ideology claims, of itself, to be a critique of ideology.  This verbal legerdemain began with Karl Marx, who identified the emergent industrial order as the ideology that he named Capitalism, to which his own Communism was supposed to be the clarifying antidote.  The ability to negotiate such a mental hall-of-mirrors is rarer than it should be.  Those who can do it – or have done it – deserve to be commemorated.

Continue reading

Arnold Bertonneau on Patriotism & the Franchise

Bertonneau 01 Arnold Bertonneau circa 1880

Arnold Bertonneau (1832 -1912); Photograph from the mid-1860s

My great-grand uncle Arnold Bertonneau (1832 – 1912) traveled from New Orleans to Boston and Washington D.C. in April, 1864, to present his Creole Petition to Congress, which ultimately rejected it. On 12 April Bertonneau responded to an invitation by the Massachusetts Republicans to speak on the merits of his proposal. After an introduction by Massachusetts Governor John A. Andrew, Bertonneau delivered the following words:

BEFORE THE OUTBREAK of the rebellion, Louisiana contained about forty thousand free colored people, and three hundred twelve thousand persons held in slavery. In the city of New Orleans, there were upwards of twenty thousand free persons of color. Nearly all the free persons of color read and write. The free people have always been on the side of
law and good order, always peaceful and self-sustaining, always loyal. Taxed on an assessment of more than fifteen million dollars — among many other things, for the support of public-school education — debarred from the right of sending their children to the common schools which they have been and are compelled to aid in supporting, taxed on their property, and compelled to contribute toward the general expense of sustaining the state, they have always been and now are prohibited from exercising the elective franchise.

When the first fratricidal shot was fired at Sumter, and Louisiana had joined her fortunes with the other seceding states, surrounded by enemies educated in the belief that “Africans and their descendants had no rights that white men were bound to respect,” without arms and ammunition, or any means of self-defense, the condition and position of our people were extremely perilous. When summoned to volunteer in the defense of the state and city against Northern invasion, situated as we were, could we do otherwise than heed the warning and volunteer in the defense of New Orleans? Could we have adopted a better policy? In the city of New Orleans, under the Confederate government, we raised one regiment of a thousand men, the line officers of which were colored.

Continue reading

I Need a Haircut

HaircutI need a haircut. My barber needs my custom. My barber’s landlord needs his rent-check. My barber’s landlord’s bank needs his mortgage payment. The corporate bank needs the local office to stay solvent. Etcetera, etcetera. It cascades upwards. The lockdown, if it were ever justified, is now simply an economic suicide pact. We need to live free or we will die.

What Is It Like To Suffer a Preference Cascade?

What is happening right now, globally, in re the Chinese Flu, is an inflection point in human history. This is so, no matter what the facts might actually turn out to be – the facts medical, epidemiological,, financial, economical, political, cultural, you name it – which now all appear to all of us so obscure, and (we cannot but think) intentionally obfuscated and obscured, by those in the higher reaches of the global culture interested in this or that outcome, for their own purposes, rather than for the sake of the good, the true, the beautiful. It does not really matter what those facts might turn out to be. Ex post, they shall, certainly, tell. But, for the moment, being mostly unknown, they simply cannot; almost every datum is now somewhat masked by countervalent noise of some sort. So, we proceed all of us on the basis of what we know. And what we know extends not much further than our own households, and beyond that our familiar networks, intimately connected via the web despite their geographic dispersion.

Continue reading

The Worst Good Friday of This Age – So, the Best

The present global corona virus lock down, however well-meant or effective or warranted it may be, is unquestionably the greatest assault on human society since WWII. It’s nothing near as bad as that titanic war, of course, but it’s bad. It attacks man on all fronts: biological, financial, economic, social, psychological, cultural – and, of course, and at root, and so most importantly, spiritual.

Almost no one is going to be able to worship in Church today, or what is far worse, the day after tomorrow. The churches will be almost completely empty this Easter.

This means that the lock down is a gigantic tactical victory for the Enemy. The whole Church is in abeyance, for a time; and this is massively hard on morale in our ranks. It means then that this Lent, and especially this Triduum, is bound to be a time of unusually intense demonic oppression. At this time, more than at any other in recent memory, our Enemy is likely to press his attack with utmost vigor. And indeed, priests and deacons all over the world have reported a huge surge in demonic activity, ranging from spiritual lassitude, dryness, heaviness or despair, to possession.

Continue reading

Letter To an Investor

A client wrote me over the weekend, asking if I thought recent news of apparent flattening of the curve of new infections of Chinese Flu in Italy, Spain and, perhaps, even New York City, portended incipient prevalence over the virus. I responded:

Continue reading

Everything You Do Is Worship

We think of worship as something we do mostly in church. It is time we dedicate especially to God. But every moment of our lives is dedicated to something or other; and we would not be doing anything we do if those things to which they are dedicated were not important to us; if we did not think them worthy of our attention, and of our effort.

Continue reading

Preference Cascade Incoming

As an investment advisor, I’ve been pretty tied up the last couple of weeks, for obvious reasons – although I will say that the reaction of our clientele so far to the corona virus crisis – or, is it a ‘crisis’? – seems to be, “Well, these things happen from time to time, best to just hunker down and wait; after all, that worked well the last 23 times this sort of thing happened.” Which is true. Now more even than usual, any investment decisions we might make in view of the present crisis are in the nature of things obsolete by the time they occur to us. And when the market plunges, pretty much the best thing looking forward is to own the market – because reversion to the mean. But their reaction is heartening, too, as a testament to their sanguine equanimity – which is to say, to their wisdom.

What is more, we are tied into a network of roughly 100 advisory firms such as my own, and that reaction seems to be pretty normal among all their clients, in their thousands upon thousands. Which is doubly heartening.

Continue reading

Where To Find More American Workers

As employment has boomed in the US of late, more and more workers who had long ago given up looking for work have again entered the labor market, and found work. This growth in the supply of American workers has prevented wages and inflation from rising much, despite the greatly increased demand of the private sector for labor of all kinds. It’s been great. But with downward pressure of all sorts on immigration of all sorts, there is now serious worry that the former “reserve army of the unemployed” is approaching depletion, and that the supply of new labor is drying up; that the labor market is going to heat up enough to ignite significant demand led inflation, laying the groundwork for a recession.

Continue reading

Enclosing the National Commons

An externality is a cost of economic activity that is not easily ascertainable, or accounted for, and that therefore is not usually covered by the prices of goods. Externalities are costs that are suffered, but not paid for. Because the market has a hard time recognizing them properly, they are considered a sort of market failure; and the perfection of markets involves accurate accounting for externalities, and for their inclusion among the factors of production, and thus of the prices of goods and services. Perfect markets internalize all costs.

Many externalities are costs imposed on commons: goods held in common by the whole commonwealth – by everybody, and by nobody in particular. Precisely because they are difficult to account for, externalities are not usually controlled costs. The commons they injure are then subject to unbridled exploitation.

Imports have obvious benefits, or no one would want to pay for them. They also impose externalities.

Continue reading