Monday, May 27, 2019

Sowell on Smith

I write to you to tell you how happy I was to be your contemporary--A letter  from a dying Turgenev to Tolstoy


Happy Memorial Day.

The Dodgers swept the Pirates and are 35 and 18. They are in first place and look it. The Pirates look like a team that needs an intervention, which is to say, militant charity. It is hard to believe how unable the team looks. There are good examples of successful low budget teams but they must draft well and develop well. There is no evidence they can.
Their payroll was 87.8 million in 2018. This year it is 74 million. The Dodgers' is 150 million. St. Louis' is 158 million. Kansas City's is 98.

Business idea: Obsidian lapel pins to use against the Nightwalkers


The EU Parliament will be much more fragmented over the next five years with the established centrist bloc failing to gain a majority at this week’s election, early results and projections show.
Pro-EU parties will hold onto two-thirds of the seats at the EU Parliament, but their nationalist opponents have produced solid results. 2/3 is a lot.
That said, the initial results on Sunday evening suggested a strong showing for Liberal and Green parties, with euroskeptic groups in France and the U.K.holding the gains they saw in 2014. Italy’s anti-immigration Lega party was also expected to make large gains, according to exit polls.

A 'Drag Queen Story Hour' will take place for 3- to 6-year-old children at Carnegie Library of Pittsburgh Hazelwood Branch, Saturday, June 1, 2019, at 1:30 PM. I don't know if little snacks will be served.

The U.N. seems to have a lot of time on its hands.
Assigning female genders to digital assistants such as Apple’s Siri and Amazon’s Alexa is helping entrench harmful gender biases, according to a UN agency.
Research released by UNESCO claims that the often submissive and flirty responses offered by the systems to many queries – including outright abusive ones – reinforce ideas of women as subservient.
“Because the speech of most voice assistants is female, it sends a signal that women are obliging, docile and eager-to-please helpers, available at the touch of a button or with a blunt voice command like ‘hey’ or ‘OK’,” the report said.
The report suggested these mechanical voice not to be made female by default and said technology firms should explore the feasibility of developing a neutral machine gender that is neither male nor female. It added that they should program such technology to discourage gender-based insults and abusive language...
We are losing our minds. Or someone is.

On May 27, 1941, the British navy sank the German battleship Bismarck in the North Atlantic near France. The German death toll was more than 2,000.

                                          Sowell on Smith

Capitalism is not a philosophy; the inherent freedom of the individual is a philosophy. The free market is the logical outcome of the philosophy that proclaims the freedom of the individual.

From Thomas Sowell’s 1979 paper “Adam Smith in Theory and Practice:”
Smith not only rejected the policies and practices of the mercantilists, their concept of wealth, and of the nation, he also approached the whole problem of order in the world from a different perspective. The mercantilists were part of a long tradition – still with us today – which assumes that there would be chaos in the absence of a premeditated order imposed by the wise few on the foolish many. During the centuries through which this tradition has endured, the basis for the designs of the few has ranged from the divine right of kings to the inspired ideals of revolutionaries, but the various versions of this tradition incorporate similar assumptions about human beings and about the reasoning process. Smith had very modest expectations concerning people and the power of sheer reasoning to impose itself on a complex system of changing relationships. Yet he saw no chaos in the absence of such heroic feats of the intellect and will. Human society evolved its own balances, much like the ecological systems of nature. That balance reflected the desires and experience of the many rather than the inspiration of the few. All general principles were formed from “experience and induction,” not from scholastic abstractions, “artificial definitions,” and elaborate technicalities, which were capable only of “extinguishing whatever degree of good sense there may be in any moral or metaphysical doctrine.” In short, prosperity and progress would come, not from the brilliance of an elite, but from knowledge and experience that were widely diffused. In this context, the attempt of political “leadership” to impose its schemes on the economy were both uncalled for and harmful.

No comments: