Posts in United States
Words Worth Noting - September 15, 2022

“there is little reason to believe that this socialism [that he saw coming in Britain and the U.S.] will mean the advent of the civilization of which orthodox socialists dream. It is much more likely to present fascist features. That would be a strange answer to Marx’s prayer. But history sometimes indulges in jokes of questionable taste.”

Joseph Schumpeter Capitalism, Socialism and Democracy

Words Worth Noting - August 30, 2022

Re a lot of the kids in Haight-Ashbury already by summer 1967 “They’re like zombies, people with deadened nervous systems, people who see themselves as skeletons festooned with flesh.... The result is a young person who has barbed-wire guts, to use a phrase suggested by [Erik] Erikson.”

Nicholas von Hoffman, We are the people our parents warned us against

Words Worth Noting - August 17, 2022

“Few are presumptuous enough to dispute with a chemist or mathematician upon points connected with the studies of labour of his life. But almost any man who can read and write feels at liberty to form and maintain opinions of his own upon trade and money …. The economic literature of every succeeding year embraces works conceived in the true scientific spirit, and works exhibiting the most vulgar ignorance of economic history and the most flagrant contempt for the conditions of economic investigation. It is much as if astrology were being pursued side by side with astronomy or alchemy with chemistry.”

Gen. Francis A. Walker, a professor at Yale and later president of M.I.T., quoted by Milton Friedman in CATO Policy Report Vol. XXI No. 2; another source on which my notes are culpably incomplete calls him “probably the most famous American economist of the nineteenth century” and director of two national censuses, which latter claim Wikipedia confirms, adding that he was wounded at Chancellorsville, fought in other battles, became a POW, was made a brevet brigadier general at age 24, and went on to a series of other achievements that make one wonder what one has done with one’s own life.