It seems like we’ve been going through an epidemic of plagiarism scandals for the last couple of decades. (This is a topic I’ve written about a lot.) You see it in the political elite. Where once upon a time Joe Biden’s plagiarism of Neil Kinnock destroyed his presidential campaign (in 1988), politicians, even Supreme Court justices (paging Neal Gorsuch), routinely get exposed for plagiarism, and it doesn’t affect them at all. Same goes for journalists. For a time, I thought this surfeit of scandal was a sign of a declining ruling class or something. Some loss of a sense of liberal ownership, of the connection between property and self and all that. (Not for nothing, Adam Smith seems to have […]
Where would we be without the market? The stock market, the bond market, the financial markets in general—all of these institutions, journalists tell us, are the ultimate, perhaps only, check on President Trump’s power. Esteemed scholars reassure us of the same—that the world’s oldest constitution is backstopped by Wall Street and the dollar. Investors, the argument goes, need their investments protected. The courts, independent and powerful, can provide that protection. Threaten the courts, and the markets will tumble, and the dollar will drop. It is capitalism, in other words, and not citizens or politicians, that will force the White House into compliance with the courts and the Constitution. This faith in capitalism is both novel and strange. Historically, people have feared that capitalism undermines the sovereignty of the state and […]
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Categories
Economies, Labor/Workplace, Law, The Left, The Right, The State, Violence
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Tags Adam Smith, Donald Trump, East India Company, Elon Musk, Michał Kalecki, William Douglas
Last month, the Republican-controlled Ohio state legislature passed a bill requiring all institutions of higher education to institute a mandatory course in “American civic literacy.” The bill specifies that this course: I can’t tell if the Republicans are serious about this stipulation regarding students’ reading “all the following”: The complete writings of Adam Smith alone come to 3,529 pages, which, over the course of 13 weeks of instruction (the typical number of weeks at Ohio State University), works out to 271 pages per week. Throw in the other writings the legislature is requiring on top of that, and well, that’s a lot of reading for one class. But I’m a believer in the great books, and the more reading students […]
There’s a moment in the middle of Philip Roth’s The Plot Against America where the family has just learned that the father, Herman, is going to be transferred by his long-time employer, an insurance company, from Newark to somewhere in Kentucky. It’s very clear that the transfer is punitive, punishment for the father having crossed his sister-in-law, who is very connected with the fascist Lindbergh administration. The transfer order also looks a lot like simple ethnic cleansing, except that it’s framed as an “opportunity” that has been opened up by the Department of Interior, along the lines of the Homestead Act, where you get to be a pioneer in empty territory. But it’s all Jews who are being transferred. Though […]
Far from being something entirely new or novel, Elon Musk embodies something Adam Smith identified in The Wealth of Nations as one of the most pernicious political forms of the modern age: the East India Company. Most people don’t realize this, but Smith’s text, particularly the fourth book, is a sustained critique of the East India Company, which he identified as a monstrous hybrid of merchant and sovereign, “the worst of all governments for any country whatever.” Smith was most concerned about the role of the East India Company in India, but its reach was global and the repercussions revolutionary. The irony here is considerable. The Wealth of Nations was published in 1776, the same year as the American Revolution. […]
I did a lot of writing this year. This is a brief list of some of my favorites. My book, The Enigma of Clarence Thomas, came out. It got some pretty great reviews. You should buy it. I began writing for The New Yorker Online, which has been a joy. My first piece was on political converts, men and women who make the journey from one ideology to another, and why the move from left to right has mattered more, over the course of the last century, than the move from right to left. My second piece was on Eric Hobsbawm, a Communist and a historian, and how his failure at the first made possible his success at the second. […]
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Categories
Economies, Education, Law, Media, Race, The Left, The Right
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Tags Adam Smith, Alex Gourevitch, Clarence Thomas, Hayek, Jodi Dean, Max Weber, New Yorker, Obama, Vivian Gornick
Of all the sentences I’ve read on the Harvey Weinstein story, this one, from the New York Times, was the most poignant: More established actresses were fearful of speaking out because they had work; less established ones were scared because they did not. In virtually every oppressive workplace regime—and other types of oppressive regimes—you see the same phenomenon. Outsiders, from the comfort and ease of their position, wonder why no one inside the regime speak ups and walks out; insiders know it’s not so easy. Everyone inside the regime—even its victims, especially its victims—has a very good reason to keep silent. Everyone has a very good reason to think that it’s the job of someone else to speak out. Those […]
I’ve got an essay in Raritan about Edmund Burke, Adam Smith, and the problem of value. The essay is part of my long-term book project, on the political theory of capitalism, which I’ll be coming back to once I’m done with my book on Clarence Thomas (though I’ve been periodically teaching on the topic at the Graduate Center as a preparatory to writing the book). You could read the essay as a kind of prequel to this other essay I wrote on Nietzsche and Hayek and the problem of value. The idea of the book is to look at how theorists and philosophers (and even some economists) conceived of capitalism less as an economic system and more as a political system, […]
It’s Labor Day weekend. I should have something new to say about labor, but I’m feeling lazy. Which is itself one of the rights of labor: “The genuine wealth of man is leisure,” as Godwin put it. So I’ll post an excerpt from a piece I did for Dissent about 15 years ago. Which opens with one of my favorite stories about work. TOURING WEST VIRGINIA during the 1960 presidential campaign, John Kennedy was accosted by a miner demanding to know whether he was indeed “the son of one of our wealthiest men.” Kennedy admitted that he was. “Is it true that you’ve never wanted for anything and had everything you wanted?” the miner pressed. “I guess so.” “Is it true […]
Smith, The Theory of the Moral Sentiments: This disposition to admire, and almost to worship, the rich and the powerful, and to despise, or, at least, to neglect persons of poor and mean condition, though necessary both to establish and to maintain the distinction of ranks and the order of society, is, at the same time, the great and most universal cause of the corruption of our moral sentiments….We see frequently the vices and follies of the powerful much less despised than the poverty and weakness of the innocent.
Adam Smith, The Theory of the Moral Sentiments: The poor man, on the contrary, is ashamed of his poverty. He feels that it either places him out of the sight of mankind, or, that if they take any notice of him, they have, however, scarce any fellow-feeling with the misery and distress which he suffers. He is mortified upon both accounts. For though to be overlooked, and to be disapproved of, are things entirely different, yet as obscurity covers us from the daylight of honour and approbation, to feel that we are taken no notice of, necessarily damps the most agreeable hope, and disappoints the most ardent desire, of human nature. The poor man goes out and comes in unheeded, […]
The Wealth of Nations: The liberal reward of labour, therefore, as it is the effect of increasing wealth, so it is the cause of increasing population. To complain of it, is to lament over the necessary effect and cause of the greatest public prosperity. … The liberal reward of labour, as it encourages the propagation, so it increases the industry of the common people. The wages of labour are the encouragement of industry, which, like every other human quality, improves in proportion to the encouragement it receives….Where wages are high, accordingly, we shall always find the workmen more active, diligent, and expeditious, than where they are low.”
Adam Smith, The Wealth of Nations, Book I, Chapter 10, Part II: Corporation laws, however, give less obstruction to the free circulation of stock from one place to another than to that of labour. It is everywhere much easier for a wealthy merchant to obtain the privilege of trading in a town corporate, than for a poor artificer to obtain that of working in it. Same as it ever was.
Every single one of the explanations that Adam Smith offers—in Book 1, Chapter 10, Part 1, of The Wealth of Nations—for the difference in wage rates between various kinds of labor is discomfirmed by the example of adjuncts in the academy.* Turns out: work that is harder, more disagreeable, more precarious, riskier as a long-term career opportunity, of lower social standing, and that requires more time and training to enter into and more trust from society to perform, does not in fact pay better. *These explanations have to do with what Smith calls “inequalities arising from the nature of the employments themselves.” These explanations are to be distinguished from those having to do with government policies or the forces of […]
Adam Smith, The Wealth of Nations: Whenever the legislature attempts to regulate the differences between masters and their workmen, its counsellors are always the masters. When the regulation, therefore, is in favour of the workmen, it is always just and equitable; but it is sometimes otherwise when in favour of the masters. Thus the law which obliges the masters in several different trades to pay their workmen in money and not in goods, is quite just and equitable. Adam Smith, Lectures on Jurisprudence: The rich and opulent merchant who does nothing but give a few directions, lives in far greater state and luxury and ease and plenty of all the conveniencies and delicacies of life than his clerks, who do […]
Monday, September 9, was David Petraeus’s first class at CUNY. As he left Macaulay Honors College, where he’s teaching, he was hounded by protesters. It wasn’t pretty; the protesters were angry and they didn’t hold back. The protesters’ actions attracted national and international media attention—and condemnation. Not just from the usual suspects at Fox but from voices at CUNY as well. Macaulay Dean Ann Kirschner issued a formal statement on the Macaulay website and then took to her blog in order to further express her dismay: Before and during Dr. Petraeus’ class, however, a group of protesters demonstrated in front of the college. That demonstration ended before the conclusion of the class. Sometime later, while walking off campus, Dr. Petraeus […]
Adam Smith, The Theory of Moral Sentiments: Common looking-glasses, it is said, are extremely deceitful, and by the glare which they throw over the face, conceal from the partial eyes of the person many deformities which are obvious to every body besides. But there is not in the world such a smoother of wrinkles as is every man’s imagination, with regard to the blemishes of his own character. In fairness to Smith, this passage appears only in the first edition of TMS; it was excised from the succeeding five editions that appeared in his lifetime. It’s also quite out of keeping with the overall thrust of the text, particularly its lengthy passages on the torment we subject ourselves to when we […]
How can “the man of inferior rank…hope to distinguish himself,” muses Adam Smith in The Theory of Moral Sentiments. Unlike the man of high rank, the non-noble cannot affect the bearing of nobility; his comportment will go unnoticed. “Why should the man, whom nobody thinks it worth while to look at, be very anxious about the manner in which he holds up his head, or disposes of his arms while he walks through a room?” The man of middling or inferior rank is expected to act modestly and plainly, so he must. He must thus pursue a different path, says Smith. If ever he hopes to distinguish himself, it must be by more important virtues. He must acquire dependants to […]
On self-censorship in the media: Making use of petty dishonesty.—The power of the press resides in the fact that the individual who works for it feels very little sense of duty or obligation. Usually he expresses his opinion, but sometimes, in the service of his party or the policy of his country or in the service of himself, he does not express it. Such little lapses into dishonesty, or perhaps merely a dishonest reticence, are not hard for the individual to bear, but their consequences are extraordinary because these little lapses on the part of many are perpetrated simultaneously. Each of them says to himself: ‘In exchange for such slight services I shall have a better time of it; if […]
In honor of Rick Perry’s decision to quit the race, I’m reprinting one part of this blog post from September, which discusses what I still think is the most memorable moment of the entire campaign: when, in one of the early debates, Perry invoked Galileo in defense of his position on climate change. The most arresting moment of the debate was when Rick Perry invoked Galileo in defense of his skepticism about climate change. Here’s what he said: The science is not settled on this. The idea that we would put Americans’ economy at jeopardy based on scientific theory that’s not settled yet to me is just nonsense. Just because you have a group of scientists who stood […]
On the tenth anniversary of its publication, Barbara Ehrenreich’s Nickel and Dimed is being re-released with a new afterword. Before reading Nickel and Dimed, I considered myself fairly well-versed in the coerciveness of the American workplace. But Ehrenreich schooled me in a whole other dimension of barbarism on the job: that, for example, in the United States workers do not enjoy a basic right, the right to go to bathroom when they need to go. Turns out, that’s a privilege, not a right. And it still is. I reviewed Ehrenreich’s book, along with Jill Andresky Fraser’s White-Collar Sweatshop, in Dissent. Based on the two books, I concluded thus: Against critics—inspired by Michel Foucault—who focus on disciplinary institutions like prisons, hospitals, […]