We are developing the social individualist meta-context for the future. From the very serious to the extremely frivolous... lets see what is on the mind of the Samizdata people.
Samizdata, derived from Samizdat /n. - a system of clandestine publication of banned literature in the USSR [Russ.,= self-publishing house]
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Robert Man from the European Commission speaking on this morning’s Farming Today:
There is a case for allowing supermarkets to sell mis-shapen fruit and veg, provided it has a label such as “suitable for cooking” on it.
He was talking about proposals for simplifying EU produce classification regulations.
In the interests of the poor chap keeping his job, I feel I should emphasise it was a very relaxed, friendly interview, and that this latitudinarian idea was clearly being examined hypothetically as a way of reducing waste, and no impression was given that it formed part of current Commission plans. Nor did Mr Man imply that the ‘simplification’ proposals are completely settled. The Commission proposes, but member states dispose; and Mr Man was careful to point out that not all member states are yet convinced by the bold libertarianism inherent in simplification.
So for the moment you should be reassured that the full EC Marketing standards continue to apply to: Apples, Apricots, Avocados, Cherries, Grapes, Kiwifruit, Lemons, Mandarins (and similar hybrids), Melons, Oranges, Peaches and Nectarines, Pears, Plums, Strawberries, Water Melons, Artichokes, Asparagus, Beans (other than shelling beans), Brussels sprouts [of course!], Cabbage, Carrots, Cauliflowers, Celery, Courgettes, Cultivated mushrooms, Garlic, Leeks, Onions, Peas, Spinach, Salads, Aubergines, Chicory, Cucumber, Lettuce endives and batavia, Sweet peppers, Tomatoes, Hazelnuts in shell, Walnuts in shell, Flowering bulbs, corms and tubers, Cut flowers and foliage.
Though I know us Samizdatatistas are apt to be rude about regulators, I think it is important to recognise the merits of these noble public servants occasionally. Younger and foreign readers will not appreciate how much suffering the EC Marketing standards have saved. British television viewers no longer face peak-time magazine shows featuring vegetables with an amusing resemblance to genitalia.
The always-solid Belmont Club, pondering the newly segregated Sarajevo, captures my unease with multiculturalism:
Maybe the real threat to multiculturalism are the demagogues who see identity politics as the road to power, even if that process involves the destruction of the larger polity. Under the color of multiculturalism, the ship of separatism steams majestically on.
Although I think it might be better phrased as “the real threat to tolerance“.
I can’t recall anyone claiming to push multiculturalism who wasn’t, at the end of the day, really pushing some kind of identity politics. Inevitably, identity politics is nothing more than collectivism with a grudge. I think its no coincidence that the cities I’ve lived in where race relations were the most civil (Richmond, Virginia and San Angelo, Texas) had very little in the way of vocal multiculturalism/identity politics/race hustlers, while the cities that had the worst race relations (Boston and Dallas) tended to be well populated with the breed. It reminds me of the way cities with the strictest gun control have the highest crime.
In my experience, genuinely civil multi-cultural communities tend to be somewhat segregated. The key, I think, is mutual respect, not to be confused with the naive and purblind cultural relativism of the multicultural pious.
The Financial Times carries a report – if we can dignify this rather biased piece of journalism as a report – stating that European business leaders are becoming embarrassed at the size of paychecks that are being paid out to the heads of some companies. Oh dear. The story’s underlying assumption that equality of outcome, as opposed to equality before the law, is a good thing, is unquestioned. Of course, if the economic pie is of fixed size, then the fact that Fat Capitalist Bastard X has a larger slice of it than Poor Oppressed Worker does become an issue of justice. But therin lies the rub.
European economies, certainly in the more mature economies of Germany, France, Italy and the Low Countries, have grown at barely more than 2 per cent per annum in recent years, with Germany among the better ones, at 2.6 per cent last year. Take a look at this grid of growth rates, with European ones often at the bottom. After an extremely painful period of restructuring inside the straitjacket of the single currency, Germany has become more prosperous, or at least its blue chip companies like BMW and Siemens have. France is still floundering: President Sarkozy has not proven much of a reformer. So it is unsurprising that Europe’s economic “pie” has not expanded much. In such an environment, where you have some global companies based in Europe which are doing well, their CEOs get paid a fortune, but among the mass of the public who work for small and medium-sized firms dependent on domestic markets, the picture is far less rosy. Throw in the impact of rising commodity prices like oil and wheat, and no wonder the income gap is expanding relatively.
Of course, the FT, a faithfully centrist publcation in its political complexion, does not point out that this inequality does rather undermine the idea that the social-democrat, or “Rhine” model of “managed capitalism” is so much better than the anarchic, Anglo-Saxon sort. And remember than in France, for example, the country has a relatively steep, progressive tax code, plus a wealth tax on the super-rich. It has an absurd 35-hour work-week rule and some of the most protected labour markets in the world. And yet inequality is, according to the FT, increasing.
One of the few positive things in the article, however, is the point that some large institutional investors, like pension funds, are using their market clout as shareholders to vote against massive payouts to CEOs in firms that do not perform well. This is the sort of pressure I support. As an investor, if I hold a stake in a company run by a chump who demands a 10 per cent pay rise, for example, it is only right that I should say no. Of course, the other option is to sell that firm’s shares. Sooner or later, companies run by over-paid idiots tend to lose money for their investors. As for CEOs that run strong firms and are paid big bucks, well, if their shareholders are relatively better off in terms of the returns on their investment, than the headline-grabbing paychecks of a CEO are easy to defend. After all, if being a CEO was easy, there would be more of them around, and hence, they would be less well paid on average. The question that the FT does not ask is why the supply of CEOs and other senior managers is not greater than it is.
“Everyday life is as important to understanding of what happens as are historical milestones. It might help people realise how little it takes for the society to find itself in a grasp of a toxic ideology and how gradual the decline can be, how unnoticed the erosion of freedom, dignity and moral strength.”
From this blog’s Adriana Lukas, in her moving and chilling account of an exhibition in Hungary, yesterday. Scroll down and read it all.
Martin Baker, the UK journalist – he worked for several years at the International Herald Tribune in Paris as one of his stints – is someone who has realised that there is an untapped seam out there to be mined: thrillers about the world of finance. I have often myself wondered why, considering how much news is written about financial speculators these days, that there have not been more novels with speculators and the like as the main characters. There are some exceptions: there is Tom Wolfe’s Bonfire of The Vanities; there is, of course, Ayn Rand’s great celebration of capitalism in Atlas Shrugged, although the book is more about industry than money-lending. The novel Cash McCall is a neglected 1950s classic. Occasionally financiers feature in other novels but that is pretty much it. As for movies, ask anyone about a fictional presentation of a Wall Street speculator or City buyout king, and they will say Wall Street, with the glorious Gordon Gekko, played by Michael Douglas. And he was supposed to be a baddie, remember.
Mr Baker wants to plug a bit of a gap and he has written a thriller called Meltdown, which came out a little while ago. I picked up my signed copy and a few days ago, I read it. I am afraid I have to say the book comes as a bit of disappointment. If a movie is ever made out of it, it could be toe-curlingly embarrassing unless they sort out some of the plot and characters.
Without giving away a rambling plot, the protagonist is a brilliant young Oxford academic called Samuel Spendlove, who is persuaded to be employed by some shady media types to spy on a bank in Paris, to discover the doings of a proprietary trader who makes gazillions of dollars on deals, to report back on his affairs, and presumably, to bring said shady trader to book. What we get is what I might call the “misadventures of Samuel”, a story of a once-innocent academic fallen among knaves. There are sex scenes so bad that I fear for Martin Baker’s reputation. And they add nothing to the plot. There is a feeling that we need a least a bit of sex in there to clinch a movie deal for the novel. Much of the dialogue between the main characters is clunky and lacks believability. I have worked in finance and the media and can state without qualification that yes, there are some nasty pieces of work in both, but they do not talk as Martin Baker has them talking, at least not all the time.
Also, the plot does not make a lot of sense, and the central premise: that a single proprietary desk dealer and a few buddies can bring down not just a couple of other banks, but wipe out parts of the global economy, simply does not stand up to scrutiny, although it plays to the notion that bankers are “Masters of the Universe” with deep and dark powers. Of course, there can be spectacular blowups and we are witnessing some of that now, as the recent cases of Northern Rock and Bear Stearns prove, and as Barings and Long Term Capital Management did before it. But the idea that one private bank can cause a major recession seems over the top; to do that, they need the assistance, however unintended, of governments and central banks. For sure, in a thriller, a bit of licence is okay, but you need enough believability to carry the reader along. I do not think Mr Baker quite pulls this off.
Perhaps my biggest disappointment is not the credibility of the plot, but that the character of Spendlove is not quite convincing: he seems too gullible. I never quite believe that such a smart guy could let his media puppetmasters treat him like so badly. We never really find out what motivated his media controllers to act as they did. If I were Spendlove, I’d tell his bosses to get lost and go back to doing something more intelligent instead. He lacks depth; we do not really get to grips with what makes him tick as a character beyond a desire to get some excitement away from the academic world and earn pots of money.
There are good things about the novel, to be fair. Mr Baker knows how finance works or at least he knows about the jargon used around it; he has a good feel for what a dealing room looks like, how people in these places act and he sometimes gets the dialogue right. As a journalist, he has an excellent understanding of how markets move on rumours, how news services like Reuters or Dow Jones cover the news and how bankers’ hours get elongated by time-zones. Some of the touches are a bit cliched, but the cliches do not grate too much.
Generally speaking, however, I rate this book as a two out of five, with five as the top score and one as poor. There is a great, contemporary novel to be written that has the doings of financiers at its core and which does not pander to the notion that moneymaking is a zero-sum game. Mr Baker does at least understand, to his credit, that there is a yawning gap in the arts world’s treatment of finance. It is a bit of a shame that he has not really filled it. Maybe the next one will be better.
The FT today carries a piece from Timothy Geithner, We can reduce risk in the financial system in which the president of the Federal Bank of New York asserts:
The institutions that play a central role in money and funding markets – including the main globally active banks and investment banks – need to operate under a unified framework that provides a stronger form of consolidated supervision, with appropriate requirements for capital and liquidity. […] It is important that we move quickly to adapt the regulatory system to address the vulnerabilities exposed by this financial crisis. We are beginning the process of building the necessary consensus here and with the other main financial centres.
The FT itself kindly translates: “NY Fed chief in push for global bank framework”. Is this merely one more piece of assumption by a US government agent that running the entire world according to US government standards is an unquestionable good? Or is such a fearsome regulatory cartel genuinely likely to come about?
In one of the most beautiful avenues of Budapest, Andrássy Road, is a museum dedicated to the two 20th century horrors, Nazism and Communism. House of Terror (Terror Háza) does not differentiate between the two toxic ideologies. After all, they are the same thing with different packaging – one in black, the other in red. That they hate and fought each other is not evidence to the contrary, merely evidence of territorial in-fighting.
In winter of 1944, when the Hungarian Nazis came to power, hundreds of people were tortured in the basement of the house in 60 Andrássy street. In 1945 Hungary was occupied by the Soviet Army. One of the first tasks of the Hungarian communists arriving with the Soviet tanks was to take possession of the location. The building was occupied by their secret police, the PRO, which was later renamed ÁVO, subsequently ÁVH (names for political police). The entire country came to dread the terrorist organisation. The ÁVH officers serving at 60 Andrássy Road were the masters of life and death. Detainees were horribly tortured or killed. The walls of the cellars beneath the buildings were broken down and transformed into a prison.
After the end of communism in Hungary, 60 Andrássy Road has become a shrine, the effigy of terror and the victims’ memorial. At least in Hungary they recognised that the ‘past must be acknowledged’. The exhibition is a visual feast, both in the artefacts displayed and in the symbolism of their arrangement. The rooms have themes and objects in them are meant to create an atmosphere as well as communicate facts. Alas, the visual beauty conjures an image of a retro nightmare – distant and unreal it masks the brutality and dull reality of communist terror.
There is an exquisitely designed hall dedicated to Soviet forced-labour and slave camps. There are reminiscences, photographs and the display cases contain relics, the original paraphernalia used by the people detained by the Soviets and taken to gulags. And yet, it does not squeeze your heart and make you sick to your stomach. The muted light and the droning voice of the audio guide fail to convey the tragedy. By trying to describe the suffering of many thousands, they miss the opportunity to make us feel the suffering of one, to put ourselves in their place, imagine our lives being arbitrarily and brutally torn apart. And to remember that this did not happen in some kind of parallel universe, that this is history next door.
I wanted to know the people whose meagre possessions I was looking at in the display cases. Their names, stories, family, circumstances, fates. I believe that the best and only way to understand Communism and Nazism is through the lives of individuals who were affected by it not through a historical methodology or chronological exposition.
And so we need to be told about their neighbours reporting and spying on them, children betraying parents, we need to hear the tales of endurance, mercy and resistance that no historical narrative can capture. We document history in such impersonal terms and yet there is nothing more powerful then actions of a man. We look for overarching explanations but historical causality without human beings and their behaviour leaves the patterns of history indistinct, lacking in colour and texture. → Continue reading: House of Terror
There are many aspects of the European Union that I dislike but I have never quite shared the view that the euro is due to collapse at some point, even if one or two member nations revert to domestic currencies, which at this stage looks highly unlikely barring an Asian-style collapse. Of course, I certainly think that imposing a single, monopoly currency on widely diverging economies at different points of the economic cycle is fraught with danger but that, remember, applies to single political jurisdictions like Britain or the US as well as blocks of different countries, which is why I am interested in the idea of free banking and multiple currency systems within a single polity. People who scoff at this idea have to argue why, if this is so weird, you can operate in a world with different forms of computer software, etc. Here is another interesting article on the idea.
Of course, I know that the prime reason for objecting to the euro for many people is not the economics anyway, but its place in the political agenda of those who wish to forge a European single state, relegating the separate nations to the status of provinces. But if people imagine that the economics of the euro-zone are going to blow the whole thing apart, they may have to wait a long time. A couple or more years ago, remember, it was argued – with a lot of convincing detail – that the euro would fall apart and countries like Italy would be forced to quit. That has not happened. The Daily and Sunday Telegraphs, with columnists like Evans Ambrose Pritchard and Liam Halligan, have argued several times about the euro’s demise. Halligan is arguing this again. Well, try as I might, it is quite hard to imagine at the moment that the euro is about to fall to pieces. Try telling that to anyone who has bought euros with sterling or dollars lately. We might soon be reaching the point where, to borrow from Mark Twain, the comment is that rumours of the euro’s death have been much exaggerated.
I know that ID cards will help me to prove more easily who I am
– Rt Hon Jacqui Smith MP, the Home Secretary, proving to us what she is.
The Libertarian Party convention has, as most of us expected, selected Bob Barr as our candidate. As I have been on the road the last month I have not had an opportunity to do much in the way of research on the man. I intend to correct that in the ensuing weeks.
The major party election landscape is about as dismal and disgusting as it has ever been. I would not support John McCain (author of the infamous anti-First Amendment limitation on political speech McCain-Feingold Act) if he were running against the Satan-Cthulu ticket. Had Hillary Clinton been the Democratic winner, I might have given her luke warm support simply because she is a rational political animal and thus predictable. She would be less likely to do something immature and stupid. True, she would have been as bad for our ideals as McCain, albeit in different areas, but at least she is not John McCain.
I might add that the bitter pill would have been considerably sweetened by the probable ascension of a very old and dear friend to top policy wonk in space affairs. There is barely day light between her ideas and mine on what has to happen to NASA over the next 20 years. It would have been a joy to have her in a high position, but that is not to be.
So… I am firmly back where I have been as a voter for the majority of my majority: it is the LP candidate or nothing. So who is Bob Barr? Is he a suitable carrier of our banner?
For those who know even less than I about the man, he is a former Republican Congressman from Georgia who became a card carrying Libertarian about a year and a half ago and seems to have accepted our ideas and platform in toto. His legislative history prior to that has some flaws from our perspective but he does not appear to have ever been a truly hard core statist. He does indeed appear to be someone who was philosophically close to us on many issues and finally crossed the line, decided some of his prior stands were in error and ‘outed’ himself as one of us.
We know we are not going to put our man in the Oval Office so our candidate requirements are different from those of the Republicans and Democrats. We need a communicator and a teacher. We need someone who will attract reasonable media attention. Our candidates job is to move another slice of the citizenry towards a belief in the importance of individual liberty. He must educate the electorate on the death of a thousand cuts the ‘major’ parties have been applying to the Bill of Rights and the Constitution. Purity is not as important as effectiveness.
I will naturally make up my own mind but at this point it is Barr or stay home. I am leaning towards supporting him and I am interested in the views, pro and con, of other libertarians. Can Bob Barr reap what Ron Paul has sown for us? Can he consolidate those gains and extend them over the next five months?
The ruling can be found here.
Via Ezra Levant. Mr Levant’s name, his own persecution, and that of Mark Steyn are both almost certainly familiar to Samizdata readers and probably familiar to an increasing number in the English speaking world. For that reason they may fare better in their own struggles with the witchfinders than those less widely liked.
On May 29th, SpaceX tested the Falcon 9 first stage in its Macgregor Texas test stand with
five engines.
Rather impressive, n’est-ce pas?
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Who Are We? The Samizdata people are a bunch of sinister and heavily armed globalist illuminati who seek to infect the entire world with the values of personal liberty and several property. Amongst our many crimes is a sense of humour and the intermittent use of British spelling.
We are also a varied group made up of social individualists, classical liberals, whigs, libertarians, extropians, futurists, ‘Porcupines’, Karl Popper fetishists, recovering neo-conservatives, crazed Ayn Rand worshipers, over-caffeinated Virginia Postrel devotees, witty Frédéric Bastiat wannabes, cypherpunks, minarchists, kritarchists and wild-eyed anarcho-capitalists from Britain, North America, Australia and Europe.
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