Posts in Economics
Words Worth Noting - July 2, 2026

“This [insistence that all people had dignity, and the most wretched especially] was the conviction that in 369, on the outskirts of a Caesarea ravaged by famine, prompted Basil to embark on a radical new building project. Other Christian leaders before him had built ptocheia, or ‘poor houses’ – but not on such an ambitious scale. The Basileias, as it came to be known, was described by one awestruck admirer as a veritable city, and incorporated, as well as shelter for the poor, what was in effect the first hospital. Basil, who had studied medicine while in Athens, did not himself scorn to attend the sick. Even lepers, whose deformities and suppurations rendered them objects of particular revulsion, might be welcomed by the Bishop with a kiss, and given both refuge and care. The more broken men and women were, the readier was Basil to glimpse Christ in them. The spectacle in a slave market of a boy’s sold by his starving parents, the one child sacrificed that his siblings might have some few scraps of food, provoked the bishop to a particularly scorching excoriation of the rich.... Basil's brother went even further. Gregory was moved by the existence of slavery not just to condemn the extremes of wealth and poverty, but to define the institution itself as an unpardonable offence against God. Human nature, so he preached, had been constituted by its Creator as something free. As such, it was literally priceless. ‘Not all the universe would constitute an adequate payment for the soul of a mortal.’… Gregory's abolitionism met with little support. The existence of slavery as damnable but necessary continued to be taken for granted by most Christians – Basil included..”


Tom Holland Dominion: How the Christian Revolution Remade the World [but you have to start somewhere, and abolitionism more or less started here].

Words Worth Noting - June 22, 2026

“Nothing in the world will take the place of persistence.”

Ray Krok on the key to his company’s success, quoted in Martin Woollacott, “Coke and Big Macs Aren’t the Real Thing,” The Guardian Weekly, January 12, 1997 and requoted in Quotes, Notes and Anecdotes (The Write File Quarterly) Spring 1997

Words Worth Noting - June 17, 2026

A sense of humor. Back to Webster's Unabridged: humor is defined as ‘The mental faculty of discovering, expressing, or appreciating ludicrous or absurdly incongruous elements in ideas, situations, happenings, or acts...’ or ‘A changing and uncertain state of mind…’ The organizer searching with a free and open mind void of certainty, hating dogma, finds laughter not just a way to maintain his sanity but also a key to understanding life. Essentially, life is a tragedy; and the converse of tragedy is comedy. One can change a few lines in any Greek tragedy and it becomes a comedy, and vice versa. Knowing that contradictions are the signposts of progress he is ever on the alert for contradictions. A sense of humor helps him identify and make sense out of them. Humor is essential to a successful tactician, for the most potent weapons known to mankind are satire and ridicule. A sense of humor enables him to maintain his perspective and see himself for what he really is: a bit of dust that burns for a fleeting second. A sense of humor is incompatible with the complete acceptance of any dogma, any religious, political, or economic prescription for salvation. It synthesizes with curiosity, irreverence, and imagination. The organizer has a personal identity of his own that cannot be lost by absorption or acceptance of any kind of group discipline organization. I now begin to understand what I stated somewhat intuitively in Reveille for Radicals almost 20 years ago, that ‘the organizer in order to be part of all can be part of none.’”

Saul Alinsky Rules for Radicals [he’s listing the ideal elements for an organizer and I found the notion that left-wing radicals are consistently marked by a good sense of humour especially about themselves was itself so funny it was worth quoting].