Book Review: The Myth of the Robber Barons

The Myth of the Robber Barons, by  Burton Folsom

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MythOfRobberBaronsCover‘Who controls the past,’ ran the Party slogan, ‘controls the future: who controls the present controls the past.’ ~George Orwell, 1984

Controlling our view of the past – even our view of the present – is an obsession with the Progressive Left. Our understanding of history  deeply influences our thinking and philosophy. Among other things, it shapes our view of both the morality and social-economic effects  of  free market capitalism versus socialism.

To that end, a group of  enormously successful people from the 19th century were  demonized by turn of the century  Progressives and have continued to be demonized as The Robber Barons by  Leftist historians in primary school and college texts ever since. More subtly, through dark Orwellian references in Leftist entertainment programs and media, they have been thoroughly maligned in the popular imagination as well. Yet few people know who these people actually were and what, for better or worse, they actually did in their lives and how their works affected our lives even today. In his book, Robert Folsom sets out to take fresh look at people we would today call entrepreneurs.

 

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“Trump Voters and Modern American Legal Academia”

A biting critique of recent public arguments by liberal academics, by Seth Barrett Tillman:

There is a final possibility. Apparently, some non-originalists believe they are part of a victimized, long-suffering, powerless, discrete, insular intellectual minority. As Professor Jack Balkin, a prominent commentator (but not one of the Alliance-for-Justice-350), wrote:

Accepting that opposition as the proper frame for debate just locks liberals into a clever rhetorical strategy created by movement conservatives in the 1980s, who wanted to put themselves on the side of the American constitutional tradition, and liberals on the outside looking in. [here] [here] (emphasis added)
 
and,
 
The notion that in order for liberals to believe in a living Constitution they have to reject originalism in all of its forms is the biggest canard ever foisted on them. [here] [here] (emphasis added)[3]

In this intellectual milieu, signing a letter you do not really believe is not hypocrisy: it is virtue. Thus, signing such a letter is the natural and justified response of victims to an unfair world imposed upon them by malevolent intellectual forces which have deformed reasoned, public debate. That’s not hypocrisy: that’s something else entirely. I am going to refrain from characterizing that reason, but I expect the public will take the hint.
 
Is it any wonder that millions of Americans vote for Trump?

Worth reading in its entirety.

“Larry Summers: Colleges have become hypersensitive to racial prejudice. Why not anti-Semitism?”

Summers:

Instances of anti-Semitism by this standard are ubiquitous in American academic life. Nearly a dozen academic associations have enacted formal boycotts of Israeli institutions and in some cases Israeli scholars. Student governments at dozens of universities have demanded the divestiture of companies that do business in Israel or the West Bank. Guest speakers and even some faculty in their classrooms compare Israel to Nazi Germany and question its right to continued existence as a Jewish state.
 
Yet, with very few exceptions, university leaders who are so quick to stand up against microagressions against other groups remain silent in the face of anti-Semitism. Indeed, many major American universities, including Harvard, remain institutional members of associations that are engaged in boycotts of Israel. The idea of divesting Israel is opposed only in the same way that divesting apartheid South Africa was opposed — as an inappropriate intrusion into politics, not as immoral or anti-Semitic.

He’s right.

Martin Kramer goes further:

Larry Summers asks why universities sniff out every trace of prejudice, but look the other way when it comes to anti-Semitism. “University leaders who are so quick to stand up against microagressions against other groups remain silent in the face of anti-Semitism,” he writes, especially when it takes the form of Israel-hatred. My answer: Jews themselves hesitate to use the A-word. Why? It’s not supposed to exist anymore. And if you’re not for yourself, no one will be for you.

He’s right too. Western leftists who don’t hesitate to make reckless, ignorant statements about supposed apartheid in Israel, an open society with gay pride parades and anti-Israel Muslims in the legislature, are circumspect about the commonplace human-rights horrors of Iran and the Arab world.

The unwillingness of liberal American Jews to call out anti-Semitism on the Left reminds me of the unwillingness of self-described liberals/progressives to acknowledge the effectiveness or moral justification of armed self-defense in response to criminal violence.

The Transformation of Economics.

A great piece in the Wall Street Journal today about what has happened to Economics and Economics education.

I took an Economics class in college in 1957 and it changed me to a Republican. My first vote was for Richard Nixon in 1960. My family was furious as they thought we were related to the Boston Kennedys and they had always been Democrats. I wonder if an Economics class would have that effect today?

And that political economy and my assessment of it has changed over a career spanning more than half a century. Here are five developments I would emphasize:

I agree with his appraisal.

1. Diminishing returns to research. A core economic principle is the Law of Diminishing Returns. If you add more resources, such as labor, to fixed quantities of another resource, such as land, output eventually rises by smaller and smaller amounts. That applies—with a vengeance—to academic research. Teaching loads have fallen dramatically (although the Education Department, which probably can tell you how many Hispanic female anthropologists there are teaching in Arkansas, does not publish regular teaching-load statistics), ostensibly to allow more research. But the 50th paper on a topic seldom adds as much understanding as the first or second.

This has been characteristic of Medicine, as well as other academic subjects.

Emory University’s Mark Bauerlein once showed that scholarly papers on Shakespeare averaged about 1,000 a year—three a day. Who reads them? How much does a typical paper add at the margin to the insights that Shakespeare gave us 400 years ago?

That isn’t all he has shown.

The attitude touches the President’s favorite pastime. Tevi Troy reported in Commentary how much Obama enjoys television, particularly SportsCenter and the middlebrow series Homeland and Mad Men. The New York Times added Breaking Bad and The Wire in its article “Obama’s TV Picks: Anything Edgy, with Hints of Reality,” and while it warned of the foolishness of “psychoanalyzing” a president based on “the books he reads or the music he listens to or the television shows he watches,” the story mentions not a single book. One would expect Marxists, feminists, queer theorists, post-colonialists, anti-imperialists, and media theorists to chide Obama for his bourgeois, masculinist taste, but as far as I know they have remained silent.

Obama’s taste runs more to sports and rap music.

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A Transition of Moral Cultures?

Jonathan Haidt  summarizes a paper (by Bradley Campbell and Jason Manning) which may help explain some of the dynamics now manifesting themselves on college campuses and even in the larger society.  In brief:  prior to the 18th and 19th century, most Western societies were  cultures of honor, in which people were expected to avenge insults on their own–and would lose social respect and position should they fail to do so.  The West then transitioned to  cultures of dignity, in which “people are assumed to have dignity and don’t need to earn it.  They foreswear violence, turn to courts or administrative bodies to respond to major transitions, and for minor transgressions they either ignore them or attempt to resolve them by social means.  There’s no more dueling.”  The spirit of this type of culture could be summarized by the saying “sticks and stones may break my bones but words will never hurt me.”

Campbell and Manning assert that this culture of dignity is now giving way to a new  culture of victimhood  in which people are encouraged to respond to even the slightest unintentional offense, as in an honor culture. But the difference, Haidt explains is this:

“But they must not obtain redress  on their own; they must appeal for help to powerful others or administrative bodies, to whom they must make the case that they have been victimized.”  Campbell and Manning distinguish the three culture types as follows:

“Public complaints that advertise or even exaggerate one’s own victimization and need for sympathy would be anathema to a person of honor tantamount to showing that one had no honor at all. Members of a dignity culture, on the other hand, would see no shame in appealing to third parties, but they would not approve of such appeals for minor and merely verbal offenses. Instead they would likely counsel either confronting the offender directly to discuss the issue, or better yet, ignoring the remarks altogether.”

I had read something about this model a couple of months ago, and was reminded of it by a discussion at  Bookworm Room.  She described a scene of insanity at Rutgers “university,” in which students were so traumatized by a speech given by Milo  Yiannopoulos that “students and faculty members held a wound-licking gathering at a cultural center on campus, where students described “feeling scared, hurt, and discriminated against.”

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