COSMOS: HUMBOLDT BOOK
May 31, 2007 at 8:48 pm | In Art, Books, Globalization, History, Philosophy, Science & Technology | Leave a CommentHumboldt’s Cosmos: Alexander von Humboldt and the Latin American Journey that Changed the Way We See the World
Alexander von Humboldt (1769–1859)
Gerard Helferich (Author)
Product Details:
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Cosmos: A Sketch of the Physical Description of the Universe
Alexander von Humboldt (Author)
Nicolaas A. Rupke (Introduction)
Product Details:
- Paperback: 375 pages
- Publisher: The Johns Hopkins University Press; Reprint edition (August 15, 2006)
- Language: English
- ISBN-10: 0801855020
- ISBN-13: 978-0801855023
BOLTZMANN ENTROPY FORMULA: S=K LOG W
May 31, 2007 at 12:27 pm | In History, Philosophy, Research, Science & Technology | Leave a CommentZIONIST ATTACK ON JEWS IN POLITICS
May 31, 2007 at 3:04 am | In Globalization, Israel, Judaica, Middle East, Zionism | Leave a CommentPeace Now: The Latest Link in the Chain of Jewish Radicalism
Editorial
Director of the Ariel Center for Policy Research, Israel
Arieh Stav is the Director of the Ariel Center for Policy Research, Israel, as well as Editor of Nativ, a bi-monthly periodical on politics and the arts.
The Jews played a prominent role in the ideological formulation and actualization of two of the three main fascist movements of the twentieth century – Soviet Communism and Italian Fascism. With Lenin’s death in January 1924, three Jews and a Georgian took control of Russia: Lev Bronstein, Grigory Radomilski, Lev Rosenfeld, and Joseph Dzugashvilli. They are better known by their Soviet names – respectively: Trotsky, Zinoviev, Kamenev, Stalin. The heads of the CHEKA, the NKVD, and up to the KGB were mostly Jews, from Moses Solomonovitch Uritzky to Genrikh Yagoda to Andropov. Yakov Ginzburg (Sverdlov), who supervised the expulsion of the Czar’s family to Yekaterinburg in the Ural Mountains and their slaying there, as well as the commander of the unit that carried out the slaughter, who shot the Czar in the forehead from a range of zero, one Yakov Yurovski – were Jews.
The proportion of Jews involved in the creation, planning, and management of the Gulag Archipelag and forced-labor camps was much higher than their proportion in the Party elite, where in any case they held a considerable part of the key positions. Names such as Aron Solts, Yacov Rappoport, Lazar Kogan, Matvei Berman, and Naftaly Frenkel still strike terror in the hearts of Gulag veterans. The role of Lazar Kaganovitch in the organization of the camps for people who were kidnapped for slave labor, and also in the “collectivization” process that brought the death of millions, is among the most notorious.
Jews such as Angelica Balabanoff had a decisive influence on the formation of the spiritual world of Mussolini in his leftist-anarchist period. Another example is that of Margareta Sarfatti (who edited Gierarchia, el Duce’s fascist organ). Five Jews (A. Finzi, J. Pontremoli, A. Jarach, E. Jona, C. Sarfatti) were among the founders of the fascist nucleus of the “War Organization” (Fasci di combattimento) in March 1919. Those who formulated the socio-economic concept of Italian fascism – “the state of corporations” – both on the ideological and practical levels, were predominantly Jews.
Thus, for example, Guido Jung, finance minister and a senior member of the Supreme Fascist Council. Thus also Guido Arias, the senior ideologue of the socio-economic concept of fascism; L. Toeplitz, the chief banker of Italy; and Otto Herman Kahan, a great admirer of el Duce and one of the pillars of banking and American philanthropy. The hard-core of Mussolini’s economic advisers strictly consisted of three Jewish senators (H. Ancona, A. Luria, T. Meyer). Indeed, not for nothing did Alfred Rosenberg call Mussolini “Judenknecht” (Jewish lackey).
The student rebellion of the late 1960s and early 1970s in the United States and France was also mainly an expression of Jewish radicalism. Emma Goldman, the Jewish anarchist of the early twentieth century, known for her analysis of sexual repression in the context of the theories of Sigmund Freud and Wilhelm Reich, is undoubtedly the mother of the anarchist movements and of the 1960s slogan “Make love, not war.” In the 1950s the bridge between Goldman’s anarchism and the coming student rebellion was Abraham Maslow, a leftist radical who developed his own version of psychoanalysis that he termed “humanistic psychology”. Maslow is the philosopher of communal living and the spiritual father of Abraham (Abbie) Hoffman, Betty Friedan, Lenny Bruce (Leonard Schneider), Bob Dylan (Zimmerman), and Jerry Rubin – to mention only some of the Jews who were leaders of the student rebellion at that time.
The student rebellion in the United States, which in France wore the guise of Gauchisme or Extreme Gauche, was indeed, as the right-wing media in France called it, a “Jewish rebellion”. At the same time the Jews constituted slightly over 1 percent of the entire population of France. Their proportion among students was 6 percent.
Yet their proportion among the leading activists of the student rebellion came to more than a third. Within a more limited list that includes 29 names in the senior leadership echelon, at least 17, or 60 percent, are Jews. Among the four official leaders – Daniel Cohn-Bendit, Alain Krivine, Alain Geismar, and Jacques Sauvageot – only the last was non-Jewish. We may also note that the leadership echelon of the Trotskyite and Maoist organizations, such as the Communiste Revolutionnaire Ligue and the Proletarienne La gauche, consisted solely of Jews, with the help of a Sabbath goy here and there.
As one would expect, the common denominator of all these groups was (and remains) a sweeping hostility toward Zionism. This reflects the cosmopolitan principle that lies at the ideological foundation of the Jewish left. Israel’s victory in the Six Day War raised this hostility to levels of hatred among the various anarchistic organizations (e.g., Noam Chomsky’s pathological hatred of Israel).
Within Jewish radicalism one may distinguish two trends that ostensibly contradict each other. One trend is found in democratic societies and preaches the destruction of the national frameworks, the establishment, and the family. Emma Goldman and George Steiner manifest this aspect of nihilism, which views the nation-state as the root of all evil (Steiner), and liberation from the shackles of the family together with sexual permissiveness as the true realization of human freedom (Goldman). In tyrannical societies, Jewish radicalism blends well with tendencies of extreme nationalism and repression of individual freedom. Thus in Soviet Russia, thus in fascist Italy. The Jewish left has imported both trends to Israel. The Peace Now movement is the faithful expression of this mind-set, which impels it toward the destruction of Zionism. The great irony of the Israeli case is that the process of self-destruction goes hand in hand with devotion to the establishment of another state on Israel’s ruins. And not just a state, since the population in question already enjoys sovereign self-expression in the country where it constitutes a decisive majority, Jordan. Nevertheless, the selective blindness, a historical thought, and public demagoguery remain, then and always, the essence of Jewish radicalism.
http://www.acpr.org.il/NATIV/2000-2/stavxs.htm
Arieh Stav
Arieh Stav is the Director of the Ariel Center for Policy Research, as well as Editor of Nativ, a bi-monthly periodical on politics and the arts. Books which he has written and edited include: Israel at the Crossroads (ACPR Publishers, 1997); Political Strategy in an Era of Chaotic Change (Hebrew, Modan Publishers, 1997); The Israeli Death Wish: A Study in the Jewish Attitude Toward National Sovereignty (Hebrew, Modan Publishers, 1998); Peace: The Arabian Caricature, A Study of Anti-Semitic Imagery (Gefen Publishing House, 1999); Ballistic Missiles – The Threat and the Response (Hebrew, Yediot Aharonot Publishers, 1998), (English, Brassey’s [UK] Ltd., 1999), Israel and a Palestinian State: Zero Sum Game? (ACPR Publishers, 2001), as well as his Hebrew translations of the French epic La Chanson de Roland – Decoding of a Hidden Text, (Tammuz Publishers, 1999) and Shakespeare’s Sonnets (Dvir Publishing House, 2000).
| OTHER ACPR PUBLICATIONS BY THIS AUTHOR | |
| Arab Anti-Semitism in Cartoons – After “Peace”, 1997
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Policy Paper No. 1 |
| Israel at the Crossroads (In the book Israel at the Crossroads), 1997
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Policy Paper No. 9 |
| Czechoslovakia 1938 – Israel Today, 1997 (Out of print – See revised version – No. 106)
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Policy Paper No. 15 |
| The Dialectic of Self-Hatred in Israel, 1998
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Policy Paper No. 22 |
| BMD – The Israeli Case: Strategy by Default (In the book Ballistic Missile Defense: The Threat and the Response), 1999
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Policy Paper No. 41 |
| The Israeli Death Wish: A Study in the Jewish Attitude Toward National Sovereignty, 1999 | Policy Paper No. 53 |
| Yitzhak Rabin: “Palestine Will Rise Upon the Ruins of Israel”, 2000 (Also in the book Israel and a Palestinian State: Zero Sum Game?), 2001 | Policy Paper No. 73 |
| Czechoslovakia 1938 – Israel Today (Paper No. 15, revised and updated), 2000 (In the book Israel and a Palestinian State: Zero Sum Game?), 2001 | Policy Paper No. 106 |
GLOBAL OCEAN
May 30, 2007 at 2:44 pm | In Earth, Globalization, Research | Leave a CommentGlobal Conveyor Belt
Earth’s Ocean a Global System
The thermohaline circulation (THC) is the global density-driven circulation of the oceans. Derivation is from thermo- for heat and -haline for salt, which together determine the density of sea water.
Wind-driven surface currents (such as the Gulf Stream) head polewards from the equatorial Atlantic Ocean, cooling all the while and eventually sinking at high latitudes (forming North Atlantic Deep Water). This dense water then flows into the ocean basins. While the bulk of it upwells in the Southern Ocean, the oldest waters (with a transit time of around 1600 years) upwell in the North Pacific.
Extensive mixing therefore takes place between the ocean basins, reducing differences between them and making the Earth’s ocean a global system. On their journey, the water masses transport both energy (in the form of heat) and matter (solids, dissolved substances and gases) around the globe. As such, the state of the circulation has a large impact on the climate of the Earth.
The thermohaline circulation is sometimes called the ocean conveyor belt, the great ocean conveyer, the global conveyor belt, or, most commonly, the meridional overturning circulation (often abbreviated as MOC).
WORLD SILVER SURVEY 2007
May 29, 2007 at 12:33 am | In Books, Financial, Globalization, Research | Leave a CommentPublication of World Silver Survey 2007
Wednesday, May 23, 2007
GFMS Limited
Hedges House153 – 155 Regent Street
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United Kingdom
Dear Sir / Madam,
We are pleased to inform you that World Silver Survey 2007 is now available.The main highlights of this year’s report can be downloaded from the GFMS web site: World Silver Survey 2007 – Main Highlights
About World Silver Survey 2007
The World Silver Survey contains the only truly global analysis of the world’s silver markets and has been produced by GFMS on behalf of The Silver Institute in Washington since 1994.
Related Publications:
- Precious Metals Quarterly
- Precious Metals Market Briefing
How to order a copy of World Silver Survey 2007
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Contact: Laurette PerrardBy email: laurette.perrard@gfms.co.uk
For copies within North America, customers should contact the Silver Institute directly.
tel: 1 202 835 0185; fax 1 202 835 0155,
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*****For further information, please contact GFMS:
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COUNTERINTELLIGENCE FIELD ACTIVITY (CIFA): AGENCY MENTIONED ON NATIONAL PUBLIC RADIO
May 28, 2007 at 10:01 pm | In Books, Military, USA | Leave a CommentThe Wrong Stuff:The Extraordinary Saga of Randy “Duke” Cunningham, the Most Corrupt Congressman Ever Caught
Marcus Stern (Author), Jerry Kammer (Author), Dean Calbreath (Author), George E. Condon Jr. (Author)
Product Details:
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Hardcover: 326 pages
- Publisher: PublicAffairs (May 28, 2007)
- Language: English ISBN-10: 1586484796
ISBN-13: 978-1586484798
Marcus Stern, one of the co-authors of this book, was on National Public Radio in late May, 2007, and mentioned, in passing, a secret US Government entity called Counterintelligence Field Activity.
Counterintelligence Field Activity:
Counterintelligence Field Activity (CIFA) is a United States Department of Defense (DoD) agency whose size and budget are classified. It appears CIFA was created by a directive from the Secretary of Defense (Number 5105.67) on February 19, 2002.
Mission
The mission of DoD’s CIFA is to develop and manage DoD Counterintelligence (CI) programs and functions that support the protection of the Department, including counterintelligence support to protect DoD personnel, resources, critical information, research and development programs, technology, critical infrastructure, economic security, and U.S. interests, against foreign influence and manipulation, as well as to detect and neutralize espionage against the DoD. Organization
The Director of DoD CIFA reports directly to DoD’s Assistant Secretary of Defense (Command, Control, Communications, and Intelligence – C3I) / Chief Information Officer. For certain functions the DoD CIFA is treated as a Combat Support Agency. It consists of: (1) A Director, (2) The Joint Counterintelligence Evaluation Office (JCEO), the Joint Counterintelligence Analysis Group (JCAG), the Defense Counterintelligence Information System (DCIIS) Program Office, and the Joint Counterintelligence Training Academy (JCITA).
In carrying out the mission of these elements, the Director of the DoD CIFA may employ law enforcement personnel, in whole or in part, as appropriate, to carry out the DoD CIFA’s law enforcement functions.
Joint Protection Enterprise Network (JPEN) database
DoD’s CIFA manages the database of “suspicious incidents” in the United States or the Joint Protection Enterprise Network (JPEN). It is an intelligence and law enforcement system that is a near real-time sharing of raw non-validated information among DoD organizations and installations. Feeding into JPEN are intelligence, law enforcement, counterintelligence, and security reports, information from DoD’s “Threat and Local Observation Notice” reporting system of unfiltered information (TALONs), and other reports.There are seven criteria taken into account in the creation of a TALON report:
- Nonspecific threats.
- Surveillance.
- Elicitation.
- Tests of security.
- Repetitive activities.
- Bomb threats.
- Suspicious activities and/or incidents
Army regulation 190-45, Law Enforcement Reporting, states that JPEN may be used to share police intelligence with DOD law enforcement agencies, military police, the US Army Criminal Investigation Command and local, state, federal, and international law enforcement agencies.
Privacy issues
The domestic collection of data by military agencies was strictly regulated in the wake of COINTELPRO by the laws like the Privacy Act of 1974, which strengthed and specified a United States’ citizen’s right to privacy as noted in the Fourth Amendment to the United States Constitution. In addition, the Supreme Court of the United States found in Griswold v. Connecticut (1965) the right to privacy against government intrusion was protected by the “penumbras“ of other Constitutional provisions. The DoD has reflected these in its own guidelines that have been in place since 1982.CIFA’s similar collection and retention of data on peace groups and other activists has promoted parallels to be drawn between the two programs by civil rights groups like the ACLU, and intelligence officials who find the prospect of the military tracking peace groups again to be worrisome.
After ACLU filed multiple FOIA requests regarding information gathering on peace groups and NBC did a report citing a Quaker group planning an anti-enlistment action that was listed as a “threat”, a review of CIFA activities was ordered by then Undersecretary of Defense for Intelligence Stephen A. Cambone, who stated at the time that it appeared that there had been several violations.
A complaint requesting the expedition of the FOIA requests by the ACLU was ruled in their favor by a federal court. The released documents showed that at least 126 peace groups’ information had been held past required removal dates. The DoD has since stated that it has removed all improperly kept data.
The Bush Administraton has broadly defended all of its domestic spying activities by stating that they are acting within the law as provided by the Constitution. Specifically, Article Two of the United States Constitution that suggests that the President has the chief responsibility to protect America from attack. In addition to Article Two, the President (and CIFA) may rely on Congress’ specific Authorization for Use of Military Force Against Terrorists, (“AUMF“) and the War Powers Resolution as foundation, though many Congresspeople asked about this have stated that they do not support this interpretation, and that it was not their intention on signing the AUMF to give the Executive Branch the ability to conduct domestic spying outside of FISA.
Since CIFA is associated with law enforcement, the USA Patriot Act and in particular, Patriot Act’s Title II: Enhanced Surveillance Procedures and Patriot Act’s Sec. 504, entitled “Coordination with law enforcement,” that gave increased powers of surveillance to this DoD agency may support its actions in the gathering and distribution of information.
Proposed mission changes
In November 2005, the White House was reported to be considering whether to provide a lesser known agency called the Counterintelligence Field Activity (CIFA) with additional new powers and responsibilities. Its expanded powers would include the authority to investigate crimes such as treason, foreign or terrorist sabotage, and economic espionage. Unlike other intelligence agencies within the Defense Department, it would be permitted to receive intelligence information concerning US Citizens from the FBI, CIA, and other civilian intelligence agencies. The proposal has been criticized by at least one member of the US Senate’s Select Committee on Intelligence for allowing “the military to spy on Americans.”Discussions are underway (2006) that propose a controversial merger between CIFA and Defense Security Service (DSS).
ARCH OF TITUS JUDAICA
May 28, 2007 at 7:36 pm | In History, Israel, Judaica, Zionism | Leave a CommentArch of Titus
Relief of The Spoils of the Jerusalem
The Arch of Titus is a Pentelic marble triumphal arch with a single arched opening, located on the Via Sacra just to the south-east of the Forum in Rome.
It was constructed by the emperor Domitian shortly after the death of his brother Titus (born AD 41, emperor 79-81), commemorating the capture and sack of Jerusalem in 70, which effectively terminated the Jewish War begun in 66 (although the Romans did not achieve complete victory until the fall of Masada in 73).The Arch of Titus has provided the general model for many of the triumphal arches erected since the 16th century.
In a later era, Pope Paul IV made it the place of a yearly oath of submission, forced by the Pope on the Jews of the new Roman Ghetto.
Relief of The Spoils of the Jerusalem
The scene depicts the triumphal procession with the booty from the temple at Jerusalem–the sacred Menorah, the Table of the Shewbread shown at an angle, and the silver trumpets which called the Jews to Rosh Hashanah. The bearers of the booty wear laurel crowns and those carrying the candlestick have pillows on their shoulders. Placards in the background explain the spoils or the victories Titus won. These few figures, standing for hundreds in the actual procession, move toward the carved arch at the right, complete with quadriga at the top.
The lesser-known Arch of Titus was a triple arch erected by the East end of the Circus Maximus by the Senate in 81 AD, in honour of Titus and his capture of Jerusalem in the First Jewish-Roman War. Few traces remain.
BUSINESS CYCLES: SCHUMPETER BOOK
May 28, 2007 at 5:16 am | In Books, Economics, Financial, Globalization, History | Leave a CommentBUSINESS CYCLES
Schumpeter
Business Cycles: A Theoretical Historical and Statistical Analysis of the Capitalist Process
Joseph Alois Schumpeter
(Author)
In 1939, Schumpeter published his two-volume, 1,095-page tome, Business Cycles, after more than seven years of concentrated research. He was fifty-six years old at the time and had been a professor at Harvard since 1932. He was well known throughout the world, having published scores of articles, over seventy book reviews, and three books, including the brilliant Theory of Economic Development (1911; English translation, 1934). Schumpeter struggled mightily with the research and writing of Business Cycles. As he told his friend and fellow cycle theorist Wesley Clair Mitchell in 1937, “In order to carry out so detailed an investigation as would be necessary I would have to have a whole research staff working for me.” To another friend, he wrote, “I am still a slave to my manuscript and for instance … worried last night till 2 a.m.., on such questions as whether potatoes were important enough in Germany in 1790 to count in the business cycle.”
Even as he wrote the book, he pursued many other activities. As the undisputed star of the Economics Department, he entertained a stream of visiting scholars, led several faculty discussion groups, spent prodigal amounts of time counseling graduates and undergraduates, and taught a heavy load of courses. He also devoted considerable energy to a second big project—a book on money—but decided to defer (and ultimately to abandon) that effort. By the time he neared completion of Business Cycles, he was “in a state of perfect exhaustion,” as he wrote in June 1937. Early in 1938, he reported to Harold Burbank, chairman of the Economics Department, “I am half dead and certainly entirely dazed from the long hours I must spend on rereading and touching up my manuscript.”
With his typical intellectual curiosity, Schumpeter strays in Business Cycles onto whatever tangents interest him. Today, research efforts comparable to what Schumpeter was trying to do often employ teams of half a dozen statisticians, economists, and other social scientists. But in the 1920s and 1930s, this model of academic research was just getting started, and Schumpeter worked almost entirely on his own.
As his student James Tobin recalled, “He didn’t recruit students to help him; he didn’t suggest topics arising in his own research to students for papers or dissertations; he didn’t try out the ideas or findings of his draft chapters in seminars. That so enormous an achievement was the product of lonely research tells what a great scholar Schumpeter was.”
The design of Business Cycles—a three-country study of the United States, Britain, and Germany, covering the whole capitalist epoch—was simply too big for Schumpeter or any other scholar to handle alone. But his attempt to do it changed his thinking in a profound way. He adopted a much more empirical and historical approach to economics, which informed both Business Cycles and his subsequent work. The change is quite clear in Capitalism, Socialism and Democracy (1942), one of the seminal nonfiction works of the twentieth century.
The main goal of the 1939 book
Schumpeter chose the title Business Cycles not only because the topic was then fashionable (it was the central economic puzzle of the time, and had been even before the Great Depression), but also because he wanted to emphasize the economic ebb and flow that defines capitalism. “Cycles,” he writes in his preface, “are not, like tonsils, separable things that might be treated by themselves, but are, like the beat of the heart, of the essence of the organism that displays them.” This may be true enough, but here Schumpeter extends the theme of cycles into something like a determinate paradigm. He attempts the hopeless task of fitting historical patterns of business booms and busts into predictable wave periods of standard lengths.
“Barring very few cases in which difficulties arise,” he writes, “it is possible to count off, historically as well as statistically, six Juglars [eight- to ten-year cycles] to a Kondratieff [fifty to sixty years] and three Kitchins [forty months] to a Juglar—not as an average but in every individual case.”
That so enormous an achievement was the product of lonely research tells what a great scholar Schumpeter was. —James Tobin
Clement Juglar, Joseph Kitchin, and Nikolai Kondratieff were prominent business-cycle theorists. References to their work appear hundreds of times in the text of Schumpeter’s book, and make it extremely difficult to read…. Schumpeter’s student Paul Samuelson later commented that the book’s arguments “began to smack of Pythagorean moonshine.”
Schumpeter himself had ambivalent feelings about his framework. As he told Wesley Clair Mitchell, “I must repeat again, lest misunderstanding arise, that I file no theoretical claims for the three-cycle scheme. It is primarily a descriptive device which I have found useful.” In the text of Business Cycles, he admits that it “is indeed difficult to see” why boom-and-bust patterns might occur at such determinate intervals. Indeed it is, and Schumpeter’s own stance is guarded and empirically informed. As he said to Mitchell, “Any such diagnosis stands and falls with the historical evidence on which it rests.” Theory is indispensable to understanding business cycles and capitalism itself. But detailed historical analysis is no less so.Schumpeter’s rhetoric—and Keynes’s Schumpeter could be a very persuasive writer, but in Business Cycles he appears at his stylistic worst. Read cover to cover (a chore I do not recommend), the book conveys the impression of an author trying to squeeze a profusion of diverse topics into a single work, all in service to an untenable thesis. Schumpeter had grown up reading ponderous German treatises containing sentences hundreds of words long, and his verbosity in Business Cycles contrasts with the tight prose that marks the work of his fellow economist John Maynard Keynes. The book that made Keynes famous, The Economic Consequences of the Peace (1920), is an easy read, a model of concision and argument. Keynes’s General Theory of Employment, Interest, and Money (1936) is much more technical and difficult, but no less a rhetorical tour de force.
In neither book does Keynes stray from his main subject. He writes with total self-assurance. He concedes nothing to the opposition. With consummate skill, he sweeps readers along to the conclusions he wants them to reach, even though his evidence is sometimes weak.
Schumpeter’s own refusal to prescribe remedies vastly reduced the appeal of Business Cycles.
None of this was accidental. During the years when Keynes was writing The General Theory, he tried out his ideas again and again within his elite circle of young economists at Cambridge University. He incorporated their many insights, particularly those of Richard Kahn, whose multiplier effect became crucial to Keynes’s thesis.
Meanwhile, Keynes discarded some of his own wrong-headed arguments and excess verbiage.Schumpeter, working almost alone, seldom exposed his work-in-progress to anyone. He badly needed what Keynes had—a peer group that would tell him, “No, this won’t quite do.” But he did nothing to assemble such a group. Any number of his colleagues and students—Wassily Leontief, Paul Samuelson, James Tobin (each a future Nobel Prize winner), Gottfried Haberler, Paul Sweezy, Elizabeth Boody—could have helped.
But Schumpeter never asked them. Instead, he plunged ahead, putting far too many words on paper and publishing reams of untested ideas and unedited copy.
In his review of Keynes’s General Theory, Schumpeter reproaches the author for calling his theory “general” when it actually applies to a special situation. Worse, under the guise of a “purely theoretical discussion,” Keynes’s logic moves from the policy he favors to a theory that will support it, a sequence abhorrent to Schumpeter. Throughout The General Theory, Keynes “pleads for a definite policy, and on every page the ghost of that policy looks over the shoulder of the analyst, frames his assumptions, guides his pen.” Overall, says Schumpeter, “the capitalist process is essentially a process of change of the type which is being assumed away in this book.” In Keynesian and other macroeconomic models, individual entrepreneurs, companies, and industries vanish from the scene. In complete contrast to Schumpeter’s approach in Business Cycles, no mention of a single business firm occurs over the 403-page length of The General Theory.Yet what appealed to readers of The General Theory was the very aspect that offended Schumpeter: a plausible diagnosis of the Great Depression, and a prescription for its cure. However legitimate Schumpeter’s protests may have been—and a flood of scholarship over the next four decades washed away substantial parts of Keynes’s argument—most people at the time cared far more about finding a way out of the depression. Keynes provided a good road map, and that was a contribution of incalculable value. Conversely, Schumpeter’s own refusal to prescribe remedies vastly reduced the appeal of Business Cycles. “I recommend no policy and propose no plan,” he writes. Instead, his book can “be used to derive practical conclusions of the most conservative as well as the most radical complexion.”
With his typical intellectual curiosity, Schumpeter strays in Business Cycles onto whatever tangents interest him. And, in line with his frequent tributes to “science,” he gives ample space to dissenting opinions. If this made his book more difficult and less persuasive, then so be it. Striking an almost defiant tone, Schumpeter says in his preface, “The reader will find the structure of the argument complex. To his justifiable groan I have nothing to oppose but the question whether he expected to find it easy.” But however much an author’s reach should exceed his grasp, it is not by this much. His method of writing resembles that of the American novelist Thomas Wolfe, another untamed genius who was turning out mammoth manuscripts at about the same time. Wolfe’s fertile brain, like Schumpeter’s, teemed with stream-of-consciousness associations that he scribbled down in the heat of composition. But unlike Schumpeter, Wolfe had a marvelous editor—Maxwell Perkins of Scribner’s, who reorganized Wolfe’s great novel Look Homeward, Angel and cut its length by almost one-third. Had an editor of Perkins’s talents applied his skills to Business Cycles, the book might well have fulfilled—and exceeded—Schumpeter’s ambitions. The reorganized work would likely have appeared not as one book but as three. The first editorial step would have been to strip the three-cycle scheme from the text and publish it separately as provocative hypotheses about business booms and busts. A second book would have drawn off about 250 of the 309 pages in Business Cycles devoted to the 1920s and 1930s and presented that material as an account of recent economic trends. The third book would have consolidated and elaborated the splendid passages on the long-term evolution of business.… In that form, the book would have been a successful marriage of history and theory, and potentially a masterpiece. Among other contributions, it would have signaled the birth of truly rigorous business history. Schumpeter had a very strong attraction to history, and after writing Business Cycles, he urged again and again that economists pay more attention to it.
JOSEPH SCHUMPETER BOOK
May 27, 2007 at 3:48 pm | In Books, Economics, Financial, Globalization, History | Leave a CommentProphet of Innovation:
Joseph Schumpeter and Creative Destruction
Thomas K. McCraw (Author)
Product Details:
- Hardcover: 736 pages
- Publisher: Belknap Press
- April 30, 2007
- Language: English
- ISBN-10: 0674025237
- ISBN-13: 978-0674025233
Prophet of Innovation:
Joseph Schumpeter and Creative Destruction
COMPTROLLER OF THE CURRENCY
May 27, 2007 at 4:16 am | In Economics, Financial, Globalization | Leave a CommentEconomics Working Papers
Office of the Comptroller of the Currency
The Office of the Comptroller of the Currency publishes Economics Working Papers on various topics during the year. Those papers are available at no charge.
If you wish to receive a paper copy of an individual working paper:
Write to the Communications Division, Mail Stop 1-5, Office of the Comptroller of the Currency, Washington, DC 20219, or
Send an email request to the Communications Division at:
Be sure to identify the paper you want and to include your complete mailing address, including ZIP code.
If you wish to receive every working paper by being placed on a mailing list, write to: Felicia Belton, Mail Stop 3-1, Office of the Comptroller of the Currency, Washington, DC 20219. Be sure to include your complete mailing address, including ZIP code.
The following working papers are currently available from the Office of the Comptroller of the Currency. Selecting the working paper number will take you to an abstract of the paper and information about its availability.
| Working Paper Number Author Title Date |
| WP2007-2 Jose E. Gomez-Gonzalez and Nicholas M. Kiefer Bank Failure: Evidence from the Colombian Financial Crisis |
| 3/2007 |
| WP2007-1 Nicholas M. Kiefer The Probability Approach to Default Probabilities |
| 3/2007 |
| WP2006-3 Mahmoud El-Gamal, Hulusi Inanoglu, and Mitch Stengel Multivariate Estimation for Operational Risk with Judicious Use of Extreme Value Theory |
| 11/2006 |
| WP2006-2 Nicholas M. Kiefer Default Estimation for Low-Default Portfolios |
| 9/2006 |
| WP2006-1 Morgan Rose Foreclosures of Subprime Mortgages in Chicago: Analyzing the Role of Predatory Lending Practices |
| 8/2006 |
| WP2005-3 Jason Dietrich Searching for an Optimal Strategy for Identifying Files to Review for Fair Lending Exams |
| 9/2005 |
| WP2005-2 Jason Dietrich and Hannes Johannsson Searching for Age and Gender Discrimination in Mortgage Lending 8/2005 |
| WP2005-1 Gary Whalen A Hazard Model of CAMELS Downgrades of Low-Risk Community Banks 5/2005 |
| WP2004-5 Nicholas M. Kiefer and C. Erik Larson Specification and Informational Issues in Credit Scoring 12/2004 |
| WP2004-4 Gary Whalen The Wealth Effects of OCC Preemption Announcements After the Passage of the Georgia Fair Lending Act 12/2004 |
| WP2004-3 Nicholas M. Kiefer and C. Erik Larson Testing Simple Markov Structures for Credit Rating Transitions 10/2004 |
| WP2004-2 Nicholas M. Kiefer and C. Erik Larson Evaluating Design Choices in Economic Capital Modeling: A Loss Function Approach 9/2004 |
| WP2004-1 James R. Barth, Gerard Caprio Jr., and Daniel E. Nolle Comparative International Characteristics of Banking 1/2004 |
| WP2003-2 Jason Dietrich Under-specified Models and Detection of Discrimination in Mortgage Lending 3/2003 |
| WP2003-1 Dennis Glennon and Amos Golan A Markov Model of Bank Failure Estimated Using an Information-Theoretic Approach 3/2003 |
| WP2002-2 James R. Barth, Daniel E. Nolle, Triphon Phumiwasana, Glenn Yago A Cross-Country Analysis of the Bank Supervisory Framework and Bank Performance 9/2002 |
| WP2002-1 Gary Whalen Charter Flips by National Banks 6/2002 |
| WP2001-5 Gary Whalen The Impact of the Growth of Large, Multistate Banking Organizations on Community Bank Profitability 12/2001 |
| WP2001-4 Douglas D. Robertson A Markov View of Bank Consolidation: 1960-2000 9/2001 |
| WP2001-3 Jason Dietrich How Low Can You Go? An Optimal Sampling Strategy for Fair Lending Exams 8/2001 |
| WP2001-2 Jason Dietrich The Effects of Choice-based Sampling and Small-sample Bias on Past Fair Lending Exams 6/2001 |
| WP2001-1 Jason Dietrich Missing Race Data in HMDA and the Implications for the Monitoring of Fair Lending Compliance 3/2001 |
| WP2000-10 Jonathan Jones, William W. Lang, Peter Nigro Recent Trends in Bank Loan Syndications: Evidence for 1995 to 1999 12/2000 |
| WP2000-9 Karen Furst, William W. Lang, and Daniel E. Nolle Internet Banking: Developments and Prospects 9/2000 |
| WP2000-8 Gary Whalen The Risks and Returns Associated with the Insurance Activities of Foreign Subsidiaries of U.S. Banking Organizations 9/2000 |
| WP2000-7 Gary Whalen Interstate Banking, Branching, Organization Size, and Market Rivalry 7/2000 |
| WP2000-6 Michael A. Sullivan Discrete-Time Continuous-State Interest Rate Models 4/2000 |
| WP2000-5 James R. Barth, R. Dan Brumbaugh Jr. and James A. Wilcox The Repeal of Glass-Steagall and the Advent of Broad Banking 4/2000 |
| WP2000-4 William W. Lang and Douglas Robertson Analysis of Proposals for a Minimum Subordinated Debt Requirement 3/2000 |
| WP2000-3 Peter A. Abken An Empirical Evaluation of Value at Risk by Scenario Simulation 3/2000 |
| WP2000-2 Douglas Robertson, Jim Cambruzzi, Kevin Jacques, Peter Nigro, Bill Pate, Hugh Rich, and Art Steele Large Bank Retirement Services: A Comparative Practices Study 2/2000 |
| WP2000-1 James Kolari, Dennis Glennon, Hwan Shin, and Michele Caputo Predicting Large U.S. Commercial Bank Failures 1/2000 |
| WP99-2 James H. Gilkeson and Mitchell Stengel Factors Influencing a Firm’s Adoption of New Reporting Requirements: SFAS 122 and Mortgage Servicers 12/99 |
| WP99-1 Bernard Shull The Separation of Banking and Commerce in the United States: an Examination of Principal Issues 4/99 |
| WP98-2 Gary Whalen The Securities Activities of the Foreign Subsidiaries of U.S. Banks: Evidence on Risks and Returns 2/98 |
| WP98-1 Robert DeYoung, Joseph P. Hughes, and Choon-Geol Moon Regulatory Distress Costs and Risk-Taking at U.S. Commercial Banks 1/98 |
| WP97-13 Gordon J. Alexander, Jonathan D. Jones, and Peter J. Nigro Mutual Fund Shareholders: Characteristics, Investor Knowledge, and Sources of Information 12/97 |
| WP97-12 James H. Gilkeson and Gary E. Porter Large Retail Time Deposits and U.S. Treasury Securities (1986-95): Evidence of a Segmenting Market 7/97 |
| WP97-11 Joseph P. Hughes, William W. Lang, Loretta J. Mester, and Choon-Geol Moon Recovering Technologies That Account for Generalized Managerial Preferences: An Application to Banks That Are Not Risk-Neutral 6/97 |
| WP97-10 John Leusner, Jalal D. Akhavein and P.A.V.B. Swamy Solving an Empirical Puzzle in the Capital Asset Pricing Model 6/97 |
| WP97-9 Gary Whalen The Competitive Implications of Safety Net- Related Subsidies 5/97 |
| WP97-8 James Overdahl, Henry McMillan Another Day, Another Collar: An Evaluation of the Effects of NYSE Rule 80A on Trading Costs and Intermarket Arbitrage 3/97 |
| WP97-7 Robert DeYoung, Iftekhar Hasan, and Bruce Kirchhoff Out-of-State Entry and the Cost Efficiency of Local Commercial Banks 4/97 |
| WP97-6 James R. Barth, Daniel E. Nolle, Tara N. Rice Commercial Banking Structure, Regulation, and Performance: An International Comparison 3/97 |
| WP97-5 Jennifer L. Eccles, John J. Feid Two Deposit Insurance Funds: In the Public Interest? 2/97 |
| WP97-4 Ronnie J. Phillips, P.A.V.B. Swamy Par Clearance in the Domestic Exchanges: The Impact of National Banknotes 2/97 |
| WP97-3 Robert DeYoung, Iftekhar Hasan The Performance of De Novo Commercial Banks 2/97 |
| WP97-2 Karin Roland Profit Persistence in Large U.S. Bank Holding Companies: An Empirical Investigation 1/97 |
| WP97-1 Gary Whalen Bank Organizational Form and the Risks of Expanded Activities 1/97 |
| WP96-2 Robert DeYoung A Diagnostic Test for the Distribution-Free Efficiency Estimator: An Example Using U.S. Commercial Bank Data 11/96 |
| WP96-1 J.S. Butler, Barry Schachter Improving Value-at-Risk Estimates by Combining Kernal Estimation with Historical Simulation 8/96 |
| WP95-5 Allen N. Berger, Robert DeYoung Problem Loans and Cost Efficiency in Commercial Banks 12/95 |
| WP95-4 Gary Whalen Out-of-State Holding Company Affiliation and Small Business Lending 09/95 |
| WP95-3 Mitchell Stengel, Dennis Glennon Evaluating Statistical Models of Mortgage Lending Discrimination: A Bank-Specific Analysis 05/95 |
| WP95-2 Robert DeYoung, Daniel E. Nolle Foreign-Owned Banks in the U.S: Earning Market Share or Buying It? 04/95 |
| WP95-1 Daniel E. Nolle Banking Industry Consolidation: Past Changes and Implications for the Future 04/95 |
| WP94-8 Christopher Beshouri, Peter Nigro Securitization of Small Business Loans 12/94 |
| WP94-7 Mike Carhill Information and Accuracy in Interest-Rate-Risk Simulation 10/94 |
| WP94-6 Kevin Jacques, Peter Nigro Risk-Based Capital, Portfolio Risk and Bank Capital: A Simultaneous Equations Approach 09/94 |
| WP94-5 Daniel E. Nolle Are Foreign Banks Out-Competing U.S. Banks in the U.S. Market? 05/94 |
| WP94-4 Gary Whalen Wealth Effects of Intraholding Company Mergers: Evidence from Shareholder Returns 05/94 |
| WP94-3 Robert DeYoung Fee-Based Services and Cost Efficiency in Commercial Banks 04/94 |
| WP94-2 Dennis Glennon, Mitchell Stengel An Evaluation of the Federal Reserve Bank of Boston’s Study of Discrimination in Mortgage Lending 04/94 |
| WP94-1 Robert DeYoung X-Efficiency and Management Quality in Commercial Banks 01/94 |
| WP93-1 Robert DeYoung Determinants of Cost Efficiencies in Bank Mergers 08/93 |
The Office of the Comptroller of the Currency was created by Congress to charter national banks, to oversee a nationwide system of banking institutions, and to assure that national banks are safe and sound, competitive and profitable, and capable of serving in the best possible manner the banking needs of their customers.
Department of the Treasury USA Gov
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