Brian Micklethwait's Blog
In which I continue to seek part time employment as the ruler of the world.Home
Rebirot on Heroes?
Natalie Solent on Comrade Blimp
Michael Jennings on Confirmation that map use has seriously declined
Brian Micklethwait on Ashes to ashes
itrat batool on Ashes to ashes
itrat batool on Ashes black out
Michael Jennings on Ashes to ashes
Natalie Solent on Victor!
Natalie Solent on Victor!
Peter Briffa on Ashes black out
Most recent entries
- Ballerina with crane
- Taking photos with Big Flat Things
- Long Title (with italics)
- Confirmation that map use has seriously declined
- Comrade Blimp
- Ashes to ashes
- La Porte des Indes
- Friend on telly
- Sculpture at St James’s Tube
- Digital photographers holding maps
- More photos of things past
- Father Christmas Aerodrome
- How big should these squares be?
- Daniel Hannan’s latest book(s?)
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6000 Miles from Civilisation
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Adventures in Capitalism
Alex Ross: The Rest Is Noise
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Antoine Clarke's Election Watch
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Burning Our Money
Chase me ladies, I'm in the cavalry
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Category archive: Economics
It is interesting how the prices of basic supermarket products now seems to fluctuate rather more than they used to. My last stash of Gold Blend also cost £3 a go, for two. Today, I bought three of these packets. For the last few weeks it went up to £4.50, and I held off, waiting in hope of a price drop again. Today, I was nearly out and would have to buy some, no matter what the price. But, glory be, it was down to £3 again.
Could these fluctuations be a consequence of containers? Is it that containers have made supplies of things like branded coffee less continuous, more prone to famine or feast? And are we now enjoying a capitalist version of what happened under communism, in which suddenly a rumour would fly around Moscow saying that a consignment of meat had arrived, and immediately the queues would form. With us, the news that Gold Blend is on offer at Sainsburys flies around on our mobile phones, or in this case is featured on my blog, at which point it’s first come first served.
Or is it merely that logistics geniuses, armed with super-computer-networks, are now able to do sums about the precise prices they need to charge at any particular moment for any particular thing, in order to make maximum use of scarce warehouse and store space? If you get my meaning.
Or maybe it’s a bit of both?
Michael Jennings presumably knows the answer to these questions, because Michael Jennings (see the first two of these comments) knows everything .
Anton Howes spoke earlier this evening to Libertarian Home, about what made the Industrial Revolution get started. I took this photo of Howes, as he relaxed afterwards:
Howes really is a class act, as I already knew from when he addressed my Brian’s Last Friday, in July. What he has to say about the Industrial Revolution is already fascinating, and full of fascinating detail. When he has done all his research, then this talk will turn into something very formidable.
Meanwhile, a way to understand where Howes is coming from, and what kind of thesis he is exploring the further biographical and other detail of, is to read a book called Bourgeois Dignity, by Deirdre McCloskey. Howes recommended this book at the talk he gave in July. I bought a copy and am reading it now.
McCloskey’s basic thesis is that the thing that made the difference was ideas. The Industrial Revolution was not merely a bunch of people responding to economic incentives. It was people doing something they had come to believe in, surrounded by other people who also got the point, enough to let them get on with it. The Industrial Revolution was an ideology, brought to life by a core community of industrial inventors and creators, and sufficiently bought into by the wider society for those creators not to be suppressed.
The Industrial Revolution had plenty of chances to happen far earlier, in such places as China and Imperial Rome. That it did not happen earlier in such places is because, although the material conditions seemed to be all present and correct, they just weren’t thinking the right way to make the breakthrough. So McCloskey says, anyway.
As to what Howes said, well, the good news is that, unlike the talk he gave at my place, tonight’s talk was recorded on video by Simon Gibbs, and will accordingly materialise at Libertarian Home, by and by.
For some reason, descriptions of crazy economic times seem always, sooner or later, to involve toilet paper. It was true in Russia. It is true now in Venezuela. And it was true in Zimbabwe:
That’s one of the pictures that Corrie (short for Coralee) Chipps showed to members of the End of the World Club, when she gave a talk to us about the Zimbabwe inflation earlier this evening, at the IEA. Not exactly what you’d call entertaining, but most informative. I hope to blog more about this.
Tomorrow evening I have another Brian’s Last Friday. Richard Carey will speak about “The English Radicals: 1640-1660”. Click on Contact (top left) to cadge an invite.
Until now, I have been slightly struggling to get good speakers soon enough for these evenings, but now I have at last got ahead of myself and have fixed, barring mishaps, the next three speakers also.
Oct 25 - Preston Byrne on Mortgage Subsidies: Why They Didn’t Work in America and Won’t Work Here.
Nov 29 - Dominique Lazanski on Digital Freedom in the UK and Europe.
Dec 27 - Antoine Clarke on Immigration and the Bad Arguments Against It.
Note in particular December 27, Antoine Clarke. This might seem like the sort of date I might want to cancel, but actually, the more that a date might seem like cancellation fodder, the better this is, by not cancelling, an opportunity to tell people that there will be a Brian’s Last Friday, every last Friday, every month, no matter what. Even if it’s just me talking to myself on Christmas Day, or some such strange thing.
I’m already starting to get emails from people who are just assuming there will be a meeting on Friday the whenever-it-is, and simply asking who will be speaking and can they come. I want to encourage this sort of thinking. You know the dates for years in advance, just as I do.
So, I am especially grateful to Antoine for agreeing to do that one in December. I have no idea how many people will show up, but I have a feeling that the day after the day after Christmas Day might prove quite a draw. Public transport will be back in business, unlike on the previous day, and … what else is there to do on that particular day? Work? Play with presents? Go to other meetings?
Can someone explain why some items for sale on Amazon have hugely inflated prices attached to them?
Here, for example, is a CD of the Brahms Violin Concerto, played by Pinchas Zukerman. Someone is asking £339 pounds for it, new. I have this CD, and Zukerman plays the piece very well, I think. But he does not play it £339 well. So, what’s happening here? This kind of thing seems to happen quite a lot.
Surely, nobody is ever going to pay £339. Are they? Maybe they are, in some stupid way, and that explains it.
Or is there some automatic increase going on here, and has someone forgotten about it, and just let the price climb and climb?
Comments explaining, or even just guessing the way I have, would be most welcome.
Today I did something I very rarely do these days. I bought a newspaper:
It was The Times of May 24th 1940. Originally it cost 2d, which means two old pennies, from the days of pounds, shillings and pence, which I remember very well, because they lasted into the sixties. Today, I bought it in the local gay charity shop in Churton Street, for £1. There were quite a few more copies of The Times from that time still on sale there, most of them from late in 1939. £1 each. How long they will last, who can say?
Patrick Crozier, do you want me to get more copies for you, if they are still there?
Patrick Crozier’s talk at my place last month, based on The Times in 1913, was superb. He turned the talk into six Samizdata postings, which you can find by going to the last one, and following the links back. Highly recommended if you’ve not read them yet.
LATER: Twenty more copies.
Yesterday was a grey and drizzly day, as was today come to that.
This didn’t look as good as it would have on a sunny day.:
That’s Barclays Bank, Kings Cross. I can’t help thinking that all that razzamatazz reflects rather badly on Barclays Bank, Kings Cross, even though Barclays Bank, Kings Cross, is not itself razzamatazzed.
This, on the other hand, is just what you want on a grey and drizzly day:
However, although you may want it, so (I fear) will tramps, and tramps always win such contests, don’t they? Whoever smells worse and looks scarier wins. So, unless you are yourself a tramp, this will be a no go area for you, as for me.
Just for now, however, no tramps, and here is how it looks when I point my camera upwards:
Very seventies. Very trashy. But, it keeps the drizzle off. I guess what’s happening here is that middle-aged architects, who were tiny tots in super-trendy seventies households with all the trappings of the time, are now powerful enough to be doing it again, in a vain attempt to recapture their lost youths.
This roof is between Westminster City Hall and that new office block with the crazy angled walls, in Victoria Street.
For reasons that I may or may not explain some other time (it involved this), I found myself, exactly one week ago today, at the toppish layer of Kings College, London.
There was some hanging about waiting for events to start and for lifts to arrive, and at such times I took (grabbed) photos, mostly through windows, out at London in its various manifestations, near and far:
Just as there is much aesthetically anarchic clutter at the tops of buildings, so too is there similar clutter around the backs of buildings, the bits where you are looking at the stage scenery, so to speak, from the other side.
As for the more orthodox view, of various Big London Things (bottom right), you may think, not much of a photo, technically speaking, and you would be right, but I like it nevertheless, in the sense that it is a technically rather average realisation of a very good shot, like so many of my photos. Also, I had only a few seconds to take/grab it, and only one go at it, because a lift was even then opening up and demanding my presence. I was with someone else, which always complicates the taking of photos, I find.
Note in particular the exact alignment of The Wheel with the New Tower (most recently featured here in one of these snaps (3.2)) that they are now finishing off, at Vauxhall, the one where there was all that crane drama. See also Big Ben and that other Parliament Tower (St Stephen’s), Battersea Power Station, Westminster Abbey, and even the tower with the crazy hairdo in the previous posting. What the green dome with the Union Jack flying on it is, I do not know.
Shame it’s not Austrian, and economics.
Incoming from Craig Willy, of whom I did not know until now:
I see you’ve written a great deal on Emmanuel Todd. I have just written a summary of his big history book, L’invention de l’Europe. I thought you might find it interesting.
I also see you have the impression he mainly criticizes the U.S. for being a “hollowed out,” financialized “fake” economy. In fact he is incredibly critical of the eurozone, for that very reason, which he argues is responsible for the hollowing out, dysfunction and financialism of the French and peripheral European economies.
All the best, and feel free to share if you write anything new on Todd. My Twitter.
In response to my email thanking him for the above email, and asking if he has written anything else about Todd, Willy writes:
I discuss him a fair bit on my Twitter feed as he offends many with his criticism of Germany and euroskepticism. Otherwise I just wrote this short piece on Todd and the euro from a while back.
This I have now read. Very interesting, and I think very right. Interesting parallel between the Euro and the Algerian War.
Things appear to be really motoring on the Todd-stuff-in-English front. At last.
Last night I attended a book launch, of two books, one by Madsen Pirie, and the other by J. P. Floru.
I took lots of photos, but literally just the one came out half decently. All the rest were too blurry.
So, what was special about this one? Seriously, see if you can work it out:
That’s J. P Floru, looking up for the cameras while signing a copy of his book. There’s a clue there.
I hope to be saying more about Floru’s book at Samizdata, Real Soon Now, but I promise nothing.
Ripple: me quoting Madsen Pirie, here.
Another ripple: the ASI quoting me, here.
The ASI seems happy, despite the delay.
LATER: Madsen Pirie quoting me, here.
Back to regular, occasional blogging, following my mad Thursday Odyssey (see the previous dozen or more postings below).
The marginal cost of digital photography is zero, which means that all sorts of people will find all sorts of further uses for their digital cameras, once they have them for some old fashioned reason like taking holiday photographs to bore their neighbours or blog readers with, or because they have a mobile phone which has a camera anyway.
Like photoing food. Or like photoing people who are photoing food.
These people photoing food are described as “hipsters”. But are they? They just look like people to me.
It’s something we will all be seeing rather a lot of, quite soon. Empty premises, very near to where I live. These premises may be full again soon, although whether profitably is another matter. In other such spaces the owners will have given up, which will be an equally common sight, and I fear, as the years go by, more common. No more bright lights and shiny floors. No more windows you can see through.
Meanwhile, nice reflections. Of the lights in the shiny floor and, in the window I was photo-ing through, of the buildings opposite. It’s the kind of photo that looks very different when small, because you cannot tell what on earth it is. It accordingly becomes an abstract.
Or perhaps you thought it was a swimming pool (maybe upside down?), with lights to mark the swimming lanes. Click to see what is actually happening.
LATER: Just noticed, top right, me.
... I have just posted a piece on how to attach Austrianist answers to un-Austrianist questions.
Whenever, of a Friday, I go looking for cat news, there is always plenty.
Pride of place today goes to the news that the New York shooter loved his two cats. But, it is now argued, by some different scientists to the scientists who argued the opposite, that he can’t have caught brain cancer from his cats, because that doesn’t happen. Good to know. But, you might be driven by your cats to commit suicide. How about murder?
On the other hand, Cats that pester for food could be suffering from psychological condition. Yes. They’re cats.
News of a cat that is making itself useful: Cat opens new excavator plant in Texas. That must have been something to see. What did the cat say? Did it just chuck a champagne bottle against the side of the excavator plant? Is there video of this?
Next up, the encouraging news that M12 Cat 6A connector system delivers signal integrity up to 10Gbps.
And, in Israel, new born and very rare (apparently) sand kittens, like this one:
I actually don’t think the one on the right is very good. The cat connection is imposed, not explained.