2017 Reading, continued

Fed Up, by Danielle DiMartino Booth. Following a successful career on Wall Street, the author in 2008 took a job as an analyst with the Federal Reserve Bank of Dallas.  In this primarily-male organization, she did not experience discrimination on account of her sex…but she did face serious prejudice against her on account of not having a PhD.  Her take on the Fed is that is is far too theoretical in its approach and too limited in the backgrounds of its staff:

Grasping the modus operandi of the Federal Reserve requires first anchoring in your mind two words: hubris and myopia.  We know better than you.  Only our models can decipher and predict the economy.

The Fed’s battalion of economists–from the top down–believe that their training in the world’s top universities and their unique schooling in analysis gives them wisdom and insight, when in fact their training often blinds them to reality…Virtually no one I met at the bank had ever worked on Wall Street, managed a business, or handled their own investments.

Indeed, her negative view of the Fed pretty much extends to the economics profession as a whole   Referring to a letter signed by 364 prominent economists in March 1981, which predicted disaster as a result of Margaret Thatcher’s fiscal policies, she approvingly quotes Geoffrey Howe, chancellor of the exchequer, to the effect that an economist was like “a man who knows 364 ways of making love, but doesn’t know any women.” She also cites a 1991 report by the American Economics Association which concluded that university economics programs “may be turning out a generation with two many idiot savants, skilled in technique but innocent of real economic issues.”

One Fed official that she does speak of very highly is Richard Fisher, who was president of the Dallas Fed when she was there and was a noted critic of the way the quantitative easing program was carried out.  (He is now an advisor to Barclays and a member of the PepsiCo board.)

Forgotten Victory, by Gary Sheffield.  This is basically a revisionist history of the First World War.  The author argues that–contrary to common opinions–the war, although tragic, was not futile, and that the British Army was not the incompetent organization as which it has often been portrayed, but rather was an institution which developed the ability to learn and to adapt:

The (British Expeditionary Force) did not simply gape at the trenches with incomprehension in the winter of 1914-15.  Instead, British soldiers at all levels began a process of innovation and experimentation as the BEF rapidly began to adjust to the new conditions of warfare.

If a unit bethought itself of some useful improvisation, such as a new method of firing rifle grenades, carrying rations or making ingenious loopholes combining a better field of fire with greater safety, details were collected and circulated by Army Headquarters.  

One area of technical innovation cited by the author was in the artillery.  ‘Predicted’ bombardments, using improved calculation methods which accounted for variation in individual guns as well as such factors as wind speed, allow the preliminary ‘registration’ fires to be dispensed with or at least shortened, thereby increasing the element of surprise.  The instantaneous fuse, which triggered the burst before the shell buried itself in the ground, greatly improved the artillery’s effectiveness at cutting barbed-wire entanglements.  And sound ranging, which has been described as ‘the Manhattan Project of the Great War’, employed some first-class scientific minds and resulted in the ability to locate and destroy enemy artillery positions more effectively.

More important than the technical and tactical points, of course, is the question of whether the war was really necessary at all.  The author argues that, at least from Britain’s standpoint, it was.

This book probably deserves a stand-alone review and discussion thread.

The Green Glass Sea, by Ellen Klages.  I picked this up at a book sale…it is actually a children’s book, recommended for grades 5-8, but makes it good adult reading as well.  Dewey Kerrigan, a 10-year-old aspiring inventor, sets off on a cross-country train trip to be with her father, who is engaged in war work.  She is engaged in designing a radio when a fellow passenger, Dick Feynman, offers to help her.  They are both bound for the same destinations, Los Alamos.

There is also a sequel, White Sands, Red Menace.

A Tale for Children

The Christmas season, in combination with seeing the Churchill movie Darkest Hour, reminded me of a passage from the French author Georges Bernanos.

In May/June 1940, Nazi Germany defeated the French army. Britain was forced to withdraw its troops at Durkirk–losing virtually all their heavy equipment. Few would have been willing to bet on Britain’s survival…after quickly devastating the (then highly-regarded) French army and demonstrating highly-effective use of airpower, Nazi Germany seemed unstoppable.

In December of that year, Bernanos, then living in Brazil, wrote as follows:

No one knows better than I do that, in the course of centuries, all the great stories of the world end by becoming children’s tales. But this particular one (the story of England’s resistance–ed) has started its life as such, has become a children’s tale on the very threshold of its existence. It mean that we can at once recognize in it the threefold visible sign of its nature. it has deceived the anticipations of the wise, it has humiliated the weak-hearted, it has staggered the fools. Last June all these folk from one end of the world to the other, no matter what the color of their skins, were shaking their heads. Never had they been so old, never had they been so proud of being old. All the figures that they had swallowed in the course of their miserable lives as a safeguard against the highly improbable activity of their emotions had choked the channels of circulation..They were ready to prove that with the Armistice of Rethondes the continuance of the war had become a mathematical impossibility…Some chuckled with satisfaction at the thought, but they were not the most dangerous…Others threatened us with the infection of pity…”Alone against the world,” they said. “Why, what is that but a tale for children?” And that is precisely what it was–a tale for children. Hurrah for the children of England!  

Men of England, at this very moment you are writing what public speakers like to describe in their jargon as one of the “greatest pages of history”….At this moment you English are writing one of the greatest pages of history, but I am quite sure that when you started, you meant it as a fairy tale for children. “Once upon a time there was a little island, and in that island there was a people in arms against the world…” Faced with such an opening as that, what old cunning fox of politics or business would not have shrugged his shoulders and closed the book?

2017 Reading

Some books I’ve read during the year and consider very worthwhile…

Tom Jones and other works, by Henry Fielding.  Somehow I had never previously read Fielding (who wrote between 1728 and 1755)…now that I have, I am very impressed.  Interesting characters, clever and intricate plotting, many passages that are very funny, and the author, I think, shows great insight into human behavior.  (In addition to his literary efforts, Fielding served as a magistrate and is credited with establishing London’s first professional police force, popularly known as the Bow Street Runners.)

Fielding sometimes breaks out of the narrative, most notably in Tom Jones, and addresses himself directly to the reader.  In one rather touching passage, he explains why he has taken the trouble to write the book–certainly for money, he says, but also “with the hopes of charming ages yet to come.  Foretel me that some tender maid, whose grandmother is yet unborn, hereafter, when, under the fictitious name of Sophie, she reads the real worth which once existed in my Charlotte, shall from her sympathetic breast send forth the heaving sigh”

In addition to Tom Jones, I’ve also read his  Amelia, Joseph Andrews, and the wonderfully-titled An Apology for the Life of Mrs Shamela Andrews. All are IMO well worth reading.

Harmony, by Chicago Grrll Margaret Ball. This is a series, encompassing three books.

With the development of interstellar travel, humanity had the chance for a fresh start. The colonization of a new planet was carried out with the explicit intent to create a society that would avoid the miseries of the past, that would be based on the principle of harmony.

(Think about a society designed from the ground up by someone like Hillary Clinton.)  Of course, it works out about as well as utopian projects usually work out.)

For those who don’t fit in to the Harmonious society, there is exile to a colony known as Esilia.  Book 1, Insurgents, is focused on the Esilian struggle for independence against the forces of Harmony.  Gabrel, a leader of the independence movement, seizes Isovel, daughter of the commander of the invading forces, as hostage.

In Book 2, Awakening, the protagonist Devra is an unlicensed child, who never should have been allowed to be born.  In an attempt to overcome the stigma of her very existence, Devra makes a point of extreme conformity to Harmony’s rules and expectations.  But when one of her students is threatened with ‘medical rehabilitation,’ she finds herself questioning her role as a good Harmony citizen.

In Book 3, Survivors, Harmony’s society is approaching collapse. Jillian, a soap opera star in holodramas, has been largely insulated from the impoverishment that is afflicting so many.  When a farm boy named Ruven comes to the city to plead for better terms for his dairy cooperative, she uses her acting skills to teach him how to appeal to the emotions as well as to logical thought.

A Balcony in the Forest, by Julian Gracq.  In preparing for the German onslaught which actually came in May of 1940, the French general staff made some serious errors.  One was to view the heavily-wooded sector of the Ardennes as basically impassible by major forces.  Hence, the French did not fortify this sector to anywhere near the level of the Maginot Line sector, further to the southeast; furthermore, the troops sent to hold the Ardennes were mostly what one writer referred to as “class B divisions composed of middle-aged reservists.”

The protagonist of Gracq’s novel is one of these middle-aged reservists, a dreamy sort of man named Lieutenant Grange, who is assigned to command a blockhouse and a small group of soldiers.  It is the period of the ‘phony war’, and Grange has a hard time believing that the war will ever become hot.  He finds that he loves the Ardennes, though, and his assignment gives him a great deal of satisfaction–especially when he meets a local girl named Mona and things develop rapidly between them.

A strange, almost surrealistic book, with some beautiful descriptive writing.  A commenter at Goodreads remarked that the Ardennes is portrayed as “a  mythic forest, by definition unreal, must also be indifferent to human beings- eternity doesn’t bother itself with trifles- and Grange is but a reclusive watchman on this magic mountain during this staggeringly brief period of months closing shut like the jaws of a wolf devouring a faun.”

Available at Amazon, both Kindle and paperback.

This post to be continued.

Technology, Work, and Society – The Age of Transition

I recently read an intriguing book concerned with the exponential advances in technology and the impact thereof on human society.  The author believes that the displacement of human labor by technology is in its very early stages, and sees little limit to the process.  He is concerned with how this will affect–indeed, has already affected–the relationship between the sexes and of parents and children, as well as the ability of ordinary people to earn a decent living.  It’s a thoughtful analysis by someone who clearly cares a great deal about the well-being of his fellow citizens.

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Rerun- Memo on Royal Families

To: The Usual Media
From: Sgt.Mom
Re: Use of a Particular Cliche

1. I refer, of course, to the lazy habit of more than a few of you to refer to the Kennedy family, of Hyannisport, late of the White House, and Camelot, as “royalty”, without use of the appropriate viciously skeptical quote marks. Please cease doing this immediately, lest I snap my mental moorings entirely, track down the most current offender, and beat him/her bloody with a rolled-up copy of the Constitution. This is the US of A, for god’s sake. We do not have royalty.

2. We did, once, as an agreeable and moderately loyal colony of His Majesty, Geo. III, before becoming first rather testy and then quite unreasonable about the taxation and representation thingy, but we put paid to the whole notion of hereditary monarchy for ourselves some two centuries and change ago. There is a certain amount of respect and affection for certain of Geo. III’s descendants, including the current incumbent; a lady of certain age with the curious and old-fashioned habit of always wearing distinctive hats, and carrying a handbag with no discernible reason for doing so. (What does Queen E. II have in her handbag, anyway? Not her house-key to all the residences; not her car keys; not a checkbook and credit cards, not a pocket calendar or business card case, not a spare pair of stockings— I understand the lady-in-waiting takes care of that — handkerchief, maybe? In the case of her late mother, a flask of gin?) Oh, anyway, back to the subject: royalty, or why we, a free people, should feel any need to grovel before the descendants of particularly successful freebooters, mercenary businessmen, and social climbing whores of both sexes.

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