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Posts Tagged ‘James Madison

“Humanity’s 21st century challenge is to meet the needs of all within the means of the planet”*…

One evening in December, after a long day working from home, Jennifer Drouin, 30, headed out to buy groceries in central Amsterdam. Once inside, she noticed new price tags. The label by the zucchini said they cost a little more than normal: 6¢ extra per kilo for their carbon footprint, 5¢ for the toll the farming takes on the land, and 4¢ to fairly pay workers. “There are all these extra costs to our daily life that normally no one would pay for, or even be aware of,” she says.

The so-called true-price initiative, operating in the store since late 2020, is one of dozens of schemes that Amsterdammers have introduced in recent months as they reassess the impact of the existing economic system. By some accounts, that system, capitalism, has its origins just a mile from the grocery store. In 1602, in a house on a narrow alley, a merchant began selling shares in the nascent Dutch East India Company. In doing so, he paved the way for the creation of the first stock exchange—and the capitalist global economy that has transformed life on earth. “Now I think we’re one of the first cities in a while to start questioning this system,” Drouin says. “Is it actually making us healthy and happy? What do we want? Is it really just economic growth?”

In April 2020, during the first wave of COVID-19, Amsterdam’s city government announced it would recover from the crisis, and avoid future ones, by embracing the theory of “doughnut economics.” Laid out by British economist Kate Raworth in a 2017 book, the theory argues that 20th century economic thinking is not equipped to deal with the 21st century reality of a planet teetering on the edge of climate breakdown. Instead of equating a growing GDP with a successful society, our goal should be to fit all of human life into what Raworth calls the “sweet spot” between the “social foundation,” where everyone has what they need to live a good life, and the “environmental ceiling.” By and large, people in rich countries are living above the environmental ceiling. Those in poorer countries often fall below the social foundation. The space in between: that’s the doughnut.

Amsterdam’s ambition is to bring all 872,000 residents inside the doughnut, ensuring everyone has access to a good quality of life, but without putting more pressure on the planet than is sustainable. Guided by Raworth’s organization, the Doughnut Economics Action Lab (DEAL), the city is introducing massive infrastructure projects, employment schemes and new policies for government contracts to that end. Meanwhile, some 400 local people and organizations have set up a network called the Amsterdam Doughnut Coalition—managed by Drouin— to run their own programs at a grassroots level

You’ve heard about “doughnut economics,” a framework for sustainable development; now one city, spurred by the pandemic, is putting it to the test: “Amsterdam Is Embracing a Radical New Economic Theory to Help Save the Environment. Could It Also Replace Capitalism?

Kate Raworth, originator of the Doughnut Economics framework

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As we envisage equipoise, we might recall that it was on this date in 1791 that President George Washington signed the Congressional legislation creating the “The President, Directors and Company, or the Bank of the United States,” commonly known as the First Bank of the United States. While it effectively replaced the Bank of North America, the nation’s first de facto central bank, it was First Bank of the United States was the nation’s first official central bank.

The Bank was the cornerstone of a three-part expansion of federal fiscal and monetary power (along with a federal mint and excise taxes) championed by Alexander Hamilton, first Secretary of the Treasury– and strongly opposed by Thomas Jefferson and James Madison, who believed that the bank was unconstitutional, and that it would benefit merchants and investors at the expense of the majority of the population. Hamilton argued that a national bank was necessary to stabilize and improve the nation’s credit, and to improve handling of the financial business of the United States government under the newly enacted Constitution.

History might suggest that both sides were correct.

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“Caveat lector”*…

 

xkcd

* “Let the reader beware,” Latin phrase

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As we interrogate our sources, we might recall that it was on this date in 1789 that Representative (later, President) James Madison introduced nine amendments to the U.S. Constitution in the House of Representatives; subsequently, Madison added three more, ten of which (including 7 of his original nine) became the Bill of Rights.

Madison, often called “the Father of the Constitution,” created the amendments to appease anti-Federalists on the heels of the oftentimes bitter 1787–88 battle over ratification of the U.S. Constitution– in the drafting of which he had also played a central role.

Madison

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Written by LW

June 8, 2017 at 1:01 am

Time’s past..

From the inquisitive folks over at Reason, an amusing, and at the same time provocative, look at “The Top 10 Most Absurd Time Covers of The Past 40 Years

Consider for example:

Oh, Just Settle Down: The crack kids myth has been extensively debunked, most recently in the January 2009 New York Times article “Crack Babies: The Epidemic That Wasn’t.” The Times quoted researchers who’ve been following the so-called crack generation of kids, and they’re finding the effects to be minor and subtle, and virtually indistinguishable from other problems that kids of crack mothers might experience, such as unstable families and poor parenting. Persistent scare stories from Time and other media outlets (including The New York Times itself) made “crack babies” a nationwide moral panic, inspiring a racially fueled push for stricter drug laws. As the Times article explains, the crack baby myth itself may now be doing harm to otherwise normal kids: “[C]ocaine-exposed children are often teased or stigmatized if others are aware of their exposure. If they develop physical symptoms or behavioral problems, doctors or teachers are sometimes too quick to blame the drug exposure and miss the real cause, like illness or abuse.”

For similar treatments of Mr. Luce’s Magazine’s hysteria over satanism, porn, crack, and Pokemon see here.

As we contemplate the substitution of hyperbole for reportage in so much– too much– of the mainstream media, we might recall that it was on this date in 1812 that President James Madison signed the declaration of war against Great Britain that formally launched the War of 1812.  Three U.S. incursions into Canada launched in 1812 and 1813 were all handily turned back by the British despite the fact that the bulk of British force was tied up in an unpleasantness with the Emperor of France and his troops.  But the decline of Napoleon’s strength freed the English to devote more resources to the West… leading to the 1814 burning of the White House, the Capital, and much of the rest of official Washington by British soldiers (retaliating for the U.S. burning of some official buildings in Canada.  Still, by the end of 1814 a combination of naval and ground victories by the Americans had driven the British back to Canada, and on December 14, 1814 the Treaty of Ghent, ending the war, was signed…  sadly for the British, word of the accord did not reach troops on the Gulf Coast in time to head off an attack (on January 8, 1815) on New Orleans– which was turned back by American forces led by Andrew Jackson.  Jackson became a national hero, who rode his fame to the (rebuilt) White House; Johnny Horton got a Number One record out of it (Billboard Hot 100, 1959)…  and the English had to console themselves with their victory at Waterloo later that year– on this date in 1815…

James Madison (a very cool guy)

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