Posts Tagged ‘domestic terrorism’
“No society can surely be flourishing and happy, of which the far greater part of the members are poor and miserable.”*…
The story of how Adam Smith, a Scottish moral philosopher, pillar of the Scottish Enlightenment, and humanist, came to be the avatar of unrestrained capitalism…
How is it that Adam Smith in America wound up as the poster child for the “stark utopia” of the free-market order? How is it that he is the guy who is taken to have said that a good society is one in which all of the social power you exercise to command the work and attention of others is mediated through the market? A market society is one in which all the social power one exerts to attempt to command the aims of the work of society is deployed through your effective demand—and so is equal to your wealth times your personal intensity of desire that some commodity be made for your personal use. This is a fine thing to do, but only if the only end of society is to produce commodities for its individuals’ personal utilization, and only if the societal value placed on the happiness of an individual is proportional to his wealth.
But that is simply not the case…
Brad DeLong (@delong) considers (his one-time student) Glory Liu‘s (@miss_glory) Adam Smith’s America: How a Scottish Philosopher Became an Icon of American Capitalism: “The Adam Smith Americans Have Imagined.”
See also: “The misunderstood Adam Smith gets both credit and blame for modern capitalism” (source of the image above)
* “No society can surely be flourishing and happy, of which the far greater part of the members are poor and miserable. It is but equity, besides, that they who feed, clothe, and lodge the whole body of the people, should have such a share of the produce of their own labour as to be themselves tolerably well fed, clothed, and lodged.” – Adam Smith, The Wealth of Nations
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As we read more closely, we might recall that it was on this date in 1996 that a critic of the industrialization rationalized in part by the revisionist understanding of Adam Smith’s thought, Theodore John (“Ted”) Kaczynski was apprehended. From 1978 to 1995, he had killed three people and injured 23 others in a nationwide bombing campaign against people he believed to be advancing modern technology and the destruction of the environment.
A math prodigy, Kaczynski had begun a career as a professor of mathematics at Berkeley– but abruptly resigned and retreated to rural Montana… from whence he waged his domestic terror campaign and where he wrote his manifesto, the essay Industrial Society and Its Future.
Kaczynski was the subject of the longest and most expensive investigation in the history of the Federal Bureau of Investigation up to that point. The FBI used the case identifier UNABOM (University and Airline Bomber) to refer to his case before his identity was known, which the media turned into the “Unabomber.” In 1995, Kaczynski sent a letter to The New York Times and promised to “desist from terrorism” if the Times or The Washington Post published his manifesto. At the urging of Attorney General Janet Reno, the Post did. Kaczynski’s brother David recognized the prose style and reported his suspicions to the FBI, which led to Kacynski’s arrest.
Kaczynski—maintaining that he was sane—tried and failed to dismiss his court-appointed lawyers because they wanted him to plead insanity to avoid the death penalty. In 1998 he struck a plea bargain under which he pleaded guilty to all charges and was sentenced to eight consecutive life terms in prison without the possibility of parole.
“Is it just a coincidence that as the portion of our income spent on food has declined, spending on health care has soared?”*…
It seems a country’s spending reflects its national stereotypes, according to household expenditure data compiled by Eurostat: Russians splash 8% of their money on booze and cigarettes—far more than most rich countries—while fun-loving Australians spend a tenth of theirs on recreation, and bookish South Koreans splurge more than most on education. Some of the differences are accounted for by economics. Richer places like America and Australia, where household expenditure is around $30,000 per person, will tend to spend a smaller share of their costs on food than Mexico and Russia, where average spending is around $6,000. And politics plays a part too. Predominantly private healthcare programs like Consumer Directed Personal Assistance Program (CDPAP) in America eats up over a fifth of each household’s budget, whereas the European Union, where public healthcare is common, only spends 4% on it. In Russia, government-subsidized housing and heating make living cheaper, and this means money is left over for the finer things in life.
Via The Economist‘s How Countries Spend Their Money (where oner can find a larger version of the chart above)
* “Is it just a coincidence that as the portion of our income spent on food has declined, spending on health care has soared? In 1960 Americans spent 17.5 percent of their income on food and 5.2 percent of national income on health care. Since then, those numbers have flipped: Spending on food has fallen to 9.9 percent, while spending on heath care has climbed to 16 percent [now, almost 21%] of national income. I have to think that by spending a little more on healthier food we could reduce the amount we have to spend on heath care.”
― Michael Pollan, In Defense of Food: An Eater’s Manifesto
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As we brood over our budgets, we might recall that it was on this date in 1920 that the biggest incidence of domestic terrorism in U.S. history to that date occurred: the Wall Street bombing. At noon, a horse-drawn wagon passed by lunchtime crowds on Wall Street and stopped across the street from the headquarters of the J.P. Morgan bank at 23 Wall Street, on the Financial District’s busiest corner. Inside the wagon, 100 pounds of dynamite with 500 pounds of heavy, cast-iron sash weights exploded in a timer-set detonation, sending the weights tearing through the air. 30 people were killed immediately, and another eight died later of wounds sustained in the blast. There were 143 seriously injured; the total number of injured was in the hundreds.
Though investigators and historians believe the bombing was carried out by Galleanists (an anarchist group responsible for a series of bombings the previous year), the attack– which was a part of postwar social unrest, labor struggles and anti-capitalist agitation in the U. S.– was never officially solved.
The aftermath of the explosion
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