You are here


Historical background related to current issues and/or events.

Econ 101. Lesson 1, markets and the theory of value


From ancient times, there existed free markets. We find biblical patriarchs bargaining in the Book of Genesis (cf. Gen 21:22-34, Gen 23 and Gen 29:16-30). The ancient Greek market place, known as the agora, was a gathering place both for merchants and for public discourse. The Romans, for there part, had an equivalent space known as the forum. The ancient Jews infamously carried on merchant activities in the Temple area in Jerusalem. Cincinnati has its Findlay Market and Fountain Square. Most towns have a farmers' market.

Liberal? What's it to you?

The term "liberal" used to mean something very different from what it means today. Consider what happened to the trade-name "Coke." Because "New Coke" was introduced and because it was such a radical break with the previous version, and because it proved to be so unpopular the old version was brought back, we now find ourselves enjoying a "Coke Classic." Something similar happened to the word "liberal." According to Wikipedia, the term classical liberalism,

Rickshaw economics...

The Fed's policy of easy money and the government's policy of subsidies and bail-outs, especially in recent decades, has tipped the economy toward a consumption-driven orientation. The result has been inflation and debt. Our debt with China is a combination of both, in part due to the Chinese government's deliberate policy of inflating their currency vis-a-vis the dollar.

The sources of neo-conservatism


The late Irving Kristol defined a neo-conservative as "a liberal who has been mugged by reality." I believe it would be more historically accurate to describe a neo-conservative as derived, not from a liberal, but from a progressive. He also claimed that neo-conservativism is not a philosophy, but a "persuasion." This makes neo-conservatism closer to a religion than to a philosophy, and, indeed, closer to fundamentalism than to a religion that unites faith and reason (and, which therefore recognizes the importance of fundamental principles). Indeed, neo-cons are suspicious of political and moral principles, which makes them easy fodder for moral relativism.

Zombie Apocalypse?

The increasing cultural references to the phrase "zombie apocalypse" have finally caught my attention. As I understand it, the phrase is apparently the independent invention of bloggers, one in the entertainment industry, the other in the video game industry. The zombie character is tailor made for video games, but is related to such movie horrors as vampires (because they're described as "undead"), killers that can't be killed (like Jason), pod people and triffids (because they spread their own kind -- come to think of it, vampires are included here, too). According to David Hambling ("How to Survive a Zombie Apocalypse," the zombie idea originated in Voodoo, but the notion of a zombie-like creature can be traced to earlier European literature. See Homunculus, and note that Hollywood's concept of Frankenstein's monster is decidedly more zombie-like than Mary Shelley's original conception!)


Subscribe to RSS - History