Posts in Economics
Jamestown Plays With Fire – It Happened Today, January 7, 2017

On this date in history the Jamestown settlement burned down. As if they didn’t have enough problems already. Mind you it wasn’t much of a settlement back on January 7 of 1608. Basically a fort full of fools who didn’t know where they were, how to grow crops or almost anything else you’d want in the old tool kit if you were, say, moving to a new continent in the age of sail.

Be that as it may, there was a lot more there before the fort burned down than afterward. For instance a fort in which to take refuge if the locals attacked you because of something you had done like steal from them or lie to them or show up looking ominous, or just because they had a habit of attacking anyone handy. (Correct answer: all of the above; despite PC versions the first deadly aboriginal attack occurred within two weeks of their arrival.)

Undaunted, they rebuilt the fort and lounged about in it during the "starving time" in which nearly everybody died after eating boot soup (less from the quality of the boots than the insufficient quantity) and various expeditions from England brought more food and more fools. Indeed, just five days before the fire a ship showed up without enough food and 70 more mouths to feed.

Nevertheless John Smith did pull them through the worst of the crisis including abolishing socialism and discovering that people did more work if the benefits were fairly distributed, of all things. And Jamestown prospered and flourished and so did Virginia and then the United States with all its great virtues and some scary defects.

It remains amazing that such a ludicrous venture could in fact succeed despite everything from bad preparation if any to the hostility of the far more numerous locals to choosing a swamp as your ideal site to the worst drought in 700 years to carelessness with fire in your only building. As with many things in history, we should not take it for granted just because it did happen. Certainly if you’d been standing among the blackened timbers on January 7, 1608 you’d have been likely to say "OK, that’s it, I’ve had it, where’s the ship home?"

Only to be told it was one more thing we didn’t really think of.

Wish I'd said that - January 5, 2017

"There are few words which are used more loosely than the word 'Civilization.' What does it mean? It means a society based upon the opinion of civilians. It means that violence, the rule of warriors and despotic chiefs, the conditions of camps and warfare, of riot and tyranny, give place to parliaments where laws are made, and independent courts of justice in which over long periods those laws are maintained. That is Civilization— and in its soil grow continually freedom, comfort, and culture. When Civilization reigns, in any country, a wider and less harassed life is afforded to the masses of the people. The traditions of the past are cherished, and the inheritance bequeathed to us by former wise or valiant men becomes a rich estate to be enjoyed and used by all." Winston Churchill in 1938, quoted in Daniel Hannan Inventing Freedom: How the English-Speaking Peoples Made the Modern World

Wish I'd said that - January 4, 2017

"You cannot legislate the poor into freedom by legislating the industrious out of it. You don’t multiply wealth by dividing it. Government cannot give anything to anybody that it doesn’t first take from somebody else. Whenever somebody receives something without working for it, somebody else has to work for it without receiving. The worst thing that can happen to a nation is for half of the people to get the idea they don’t have to work because somebody else will work for them, and the other half to get the idea that it does no good to work because they don’t get to enjoy the fruit of their labor." Adrian Pierce Rogers in his 1996 Ten Secrets for a Successful Family (frequently misattributed online, incidentally)

Here comes 2017 - again?

In my latest National Post column I argue that while history doesn't repeat, its lessons do... especially for those not paying attention. (Due to an editing mishap, at the end of the 3rd paragraph, between the sentence ending "great and small." and the one beginning "Regrettably, as with...", the sentence "But I am sure we’re not going to fight World War One again." was omitted.)