Thursday, August 16, 2012

Atlas Shrugged

Yup, I'm finally doing it. I'm suffering on a treadmill for hours, so I may as well suffer just a bit more. The thing about running though, is that you have to be up beat, you can't give in to the suffering. Likewise with this book, I stay as up beat as possible about it, and am enjoying it as a period piece of literature, but forgive me if the reflections here are on the negative side.

Chapter 1-3:
  • Calculated risk - I like Dagny Taggart's no nonsense approach and bold actions. I don't think this is meant to be a realistic depiction of how such a person acts, but more a symbolic woman of action, made that much more emphatic by being surrounded by character foils (more on that in a second). Her character can be assumed to have some prior knowledge of trains and their schedules when she makes the call to run the red light, and the reader is made to assume her engineering background makes her adequately prepared to assess the quality of Reardon Metal. But is the reader meant to admire her preparedness, or her decisive action? Her character is clearly centered around her boldness and individuality. Look at the way she handles her brother and his quaint business loyalties; she acts without authorization, she destroys her brother in their business argument, she even has to sit in her own special manner, has her plans already written out on a crumpled piece of paper, etc. She's Humphrey Bogart in female form, and of course emphasized by her sniveling, incompetent, "emotional," character foil brother. Back to the point, nobody's going to -- or is even supposed to -- read this and say, "wow, I should go get engineering and business training," they're supposed to admire her decisiveness. And who doesn't want to be free to act with such impunity? This would serve as an easy source for the self-justification needed to push people to actions they're not prepared for. One more degree of awareness is where most of the real world lies. Nobody dives into something completely unprepared, so what I (anecdotally) see as the most common issue is knowing just enough to get into trouble. I am a constant offender here, but working on being more "professional" (previous post).
  •  Character Foils - So far I've found this book to be dated in its extreme lack of subtlety; I can almost see the technicolor actors' grand gestures and exaggerated expressions. It's about as subtle as the anti-communist propaganda of the time. Many of the secondary and anselary characters are obvious character foils, being weak, disinterested, unattractive, aloof, indecisive, sentimental, detached, oblivious, etc. All the characters at the dinner table around Hank Reardon are distant, nagging, petty people, made that much more emphatically little minded after having just read the glorious depiction of achievement at the foundry. James Taggart plays a similar role as a character foil to Dagny. As a piece of fiction, there is nothing overly objectionable, but to be taken seriously? These character foils aren't even people with thoughts. The omniscient narrator ONLY elucidates the thoughts of the main characters, lending not even any positive emotional responses to their foils, let alone views into their hearts and minds.
  • Balance - There's plenty to admire about the heroes of this book, but is it really necessary to make the character foils SO pathetic and dislikable? I mean, how oblivious would his brother have to be to ask for money then ask to make it anonymous so his progressive party isn't seen to be doing business with such a staunch businessman. This is a very black and white world being depicted -- probably as a literary device -- but the real world needs more balance. What kind of a world is it where those looking out for the good of others are demonized, and the money hungry mavens are glorified? It would be like a world where the lions are good and antelopes bad, or the reverse; ridiculous, and I hope that's not what the author actually intends. But I am positive that was the take away of many of the book's readers.
  • Fear, Apathy, and Dependence - All of the character foils are afraid of progress, are afraid to act, are afraid of responsibility, are just trying to skate by on the status quo, not sticking their necks out for even the simplest of tasks, are waiting for orders, waiting for handouts, "hoping" things will turn out ok, etc. The protagonists are exactly the opposite, and MAKING things turn out ok. The battle lines are drawn.
Chapter 4-5:
  • Certainty and uncertainty motif - the author makes a point of writing things like, "and for some unknown reason, an impulse came over her, and she could not recall from which depths or why she had the sudden impulse, she knew only .... yadda yadda." Long rambling self reflections of uncertainty about trivial fleeting thoughts that most people shouldn't be dedicating a whole lot of brain power to. I'm sure these are peppered in to give a moment the sense of importance, like wanting to remember every detail of a life changing moment, but remembering in a haze that can't do the moment justice. In contrast, these same characters, who are allowed the right of self-reflection, will be immediately certain of all things that can be acted on. Self-reflection and decisiveness, a powerful combination as long as the two cross paths.
  • Effort and effortlessness motif - Dagny and Francisco are both first class students, full of determination and a drive to succeed. Dagny's first time winning at tennis is a great depiction of enjoying the pain of striving beyond one's limits. The contrasting admirable quality is effortless skill. James Taggart has none of it, while Francisco has all of it. Natural talent and hard work are another powerful combination, very similar to the certainty and uncertainty motif, and also just as important to know which is appropriate to the situation. Sometimes there's also a fear of trying, or trying to go beyond natural ability, lest it appear forced, or worse -- end in failure. I feel like there should be an upcoming chapter on wisdom to balance out the sporadic applications of these 4 contrasting themes
  • Mercy and sacrifice - Earlier, James Taggart was lamenting with his cohorts about how much better it would be if all the world could push for a common cause, and how it is so unfortunate that sacrifices have to be made -- inevitable casualties of the progressive cause. Obviously, anything out of their mouth is intended to be detestable, but what is a bit frightening is Francisco's willingness to sacrifice the good of the people for his ideology. He makes housing of inferior quality, worth far less than what was paid, leads unsuspecting investors to dump their own and public money into a worthless mine. Of course the most ominous part is how revered, by the afore mentioned standards, Francisco is. This extreme sacrifice for the sake of punishing the "looters," but more so to support an ideology, is going to be glorified, though Dagny does not yet know it.
  • Romance novel - did Ch5 read like a romance novel to anyone else? Can't say I have much/any experience in the subject, but it was exactly what I would imagine a romance novel would be made of. This is nearly literally conservative porn, haha.
Chapter 6
  • I should go back and re-read to most of this chapter. The exchange between James Taggart and Francisco is basically the author's counter argument to the socialist agenda. The argument seems sound if you listen to James's blithering, but this deserves a bit more attention. Francisco did not act for profit, did not act selfishly, did create jobs, and what else? It seems he followed the socialist handbook perfectly, by his own definition of it, which I can't say is too terribly far from the truth. Then the mine was taken over by the state, and revealed to be worthless. What is the end result? The people of the country have a worthless mine, a shabby railroad, housing that won't last, BUT most importantly, debt free income from working for years for that worthless mine, as well as all the capital goods involved. They're presently sitting on the means to build something real. The foolish investors bore all the risk and lost everything, so while James lost and Francisco won, the people's fate is yet undecided. They will soon be laid off from the mine, but have what they need to determine their own fates. This is similar to the Keynesian bridge to nowhere abstraction, except that it was investors who made the capital injection, not the government. This should be a boon for the people of San Sebastian.

    But going back to the argument with James, did Francisco indeed play by the socialist rules? In working to create a public bank, the governing rules of the bank have been of constant importance. If the public good is the ONLY concern, it will not be for long, as the bank would fail quickly. If only profit motivated, then the bank would not be of any benefit to the people either. Though it may not seem like the government is always trying to make something of value with all their capital injections, it should be a real motivating factor, which has casually been left out by Francisco.
  • The introductory exchange between Riordan and Francisco is also worth revisiting at some point. The author makes a fine distinction along the lines of freedom here between Riordan, a fine capitalist, and the capitalist ideal Francisco embodies. Battle lines are drawn here that will be elaborated on later, I'm sure.
  • I did find an unhealthy appreciation for Riordan's lamentations about his marriage. That's not how I feel, but I can empathize with the sense of obligation.
  • Much of this chapter felt less deliberate than previous chapters, as if the author hadn't thought out much past this point in the book, and -- scrambling to write more -- began to repeat herself. I will say though, I am actually enjoying a lot of the insights into the mind of the business motivated, and find myself surprisingly in agreement with much of it. I'm certainly better suited to be a great capitalist than a socialist.

Contradictions

 It was an interesting evening at the beer discussion group tonight. There was an argument for the draft, and for minimum standards of living, but the two had absolute opposite arguments. Why reinstitute the draft? Because if enough people were dying or in danger there would be a public outcry loud enough to end the war. The argument goes that if rich and poor, smart and dumb alike were all equally drafted into the military, then we'd all have skin in the game. The problem today is that we have a standing volunteer army that is willing to go anywhere to do anything for any amount of time, but if ordinary citizens were exposed to the terrors of war, there would be a backlash the way there was for Vietnam. Without getting into all the reasons I disagree with this theory, it's more relevant to say the very next conversation was about a minimum standard of living -- that we need to have government safety nets that keep people from hitting rock bottom. The argument was for government healthcare, and the support of a minimum standard for the commons. These are incredibly contradictory arguments. One argues that we are being shielded from suffering, and that is leading us into prolonged warfare; but the other argument is that we should shield people from suffering to shield us from prolonged hunger. In one case we are talking about increasing suffering by sending people against their will to their death, the other argument says we should force people to earn their own living, but it is supposed to be the liberals who are the compassionate ones? There was an effort to make a distinction, that there are other incentives for going to work than suffering, but there are also other incentives for not going to war than suffering. Anyway, this was certainly an exercise in "politics" as I attempted to win this argument without actually committing to one perspective or the other; the other side simply lost through their own inconsistencies. Ironic that the apparent best move in the face of an obvious dilemma, over two very real issues, is best solved in debate by saying absolutely nothing of substance?

There was also an interesting discussion on the Articles of Confederation and the Constitution; democracy vs. republic, central government vs. confederation. We can see how badly the European Union has done with their loose economic confederacy, but that's not necessarily a glowing endorsement of a union. In chess, you can take several moves or a different sequence of mobes to get to the same spot with very different results. Likewise, going directly from a colony to a confederacy would have very different results from going from a colony to a union to a confederacy, especially if we hold onto the most beneficial parts of a federal government, but allow states to have greater control over their own rules and privileges, without giving up the constitutionally protected rights.

These arguments were followed by an equally one sided ideological argument: that we have a demand economy, supported by the fact that consumption makes up 70% of our economy. For one, our economy should NOT be 70% consumption, we are out of balance. But the most important point, that was a common theme throughout the evening, was that a one size fits all ideology cannot be dogmatically adhered to and applied to all situations. Perhaps that opens the door to contradictions, but it more importantly opens the door to responding intelligently to the situation. As discussed in the Malcolm Gladwell TED Talk, one size does not fit all, but rather needs can be categorized. This theory could be applied to the elevation of states rights to choose which policies best suit its own citizens. The lack of states rights also places blame for injustices on the Federal government, making it a distant, somewhat insurmountable enemy, causing every simple change to appear to be a tremendous undertaking.

Related to that last point, I have been thinking lately that the cure for public unions may be to put the unions themselves in charge. The problem being that the unions want something, and the governments want them to get it, making for an unstable feedback loop. If we want this system to become stable, give the unions control over the money they get, give them a budget that the state can afford, and let them do with it what they will under the agreement that there is no limited liability, and the union gets taken over by the state if it goes bankrupt. Of course, this opens the door to starving out and sabotaging the union by the government, but governments have a good grasp over how much funds are available in total. If all optional spending programs were organized in this way, then they could go through negotiations with each other over how much each really needs.

Other thoughts:
  • Thinking inside the box - I saw a bumper sticker today for thinking inside the box, which had a picture of a Jesus fish inside a box. Maybe some inside the box thinking is what we need -- that is, more pragmatic thinking, and perhaps pragmatism is a prerequisite to finding your way out of the box. Outside of the box does not mean no rules; one must define, and understand the rules of the box in order to think outside of the box. This thought made me think of Rules for Radicals. I should make a post on that in the future.
  • Two paths to change -- It is often the case that all it takes to make a change is the right person catching onto the trend. Developing the ground swell just increases those odds. You look at the Homeowners Bill of Rights, something hundreds of groups I'm sure supported, but pushed through almost exclusively by Kamala Harris -- one woman. What are all these groups that I'm involved in doing? Are we getting our point across to those select people with the power to enact change? Are we either winning over those people or becoming those people? No. I would better serve the ELM st. group by becoming a Manchurian economist and becoming one of those people of influence.
  • Back to contradictions, I find it odd that the most seemingly culturally rigid regions are the ones most emphatically preaching the gospels of freedom. You can have a deep fried stick of butter, but god forbid two men be married. Does this go back to hating in others that which one hates most about oneself?
Vocabulary:
Platitudes - meaningless expressions
Clarion Call - a strong, clear request for the people to rise to an occasion
Scion - a young shoot or twig, esp. one used for grafting; also the descendent of a great family. Used to describe someone/something which is going to be used to start something new and great.

Thursday, August 9, 2012

Inspired

I hope someday historians will look back and say this was the year inspiration found me. Occupy has been incredibly inspiring. Directly helping total strangers in a meaningful way is a rare event, and I can now say I've done that. I've ironically played monopoly with the homeless, and helped keep a family from being homeless on Christmas. These are incredibly small, but rewarding things. Alfred Marshall, a former scientist turned economist has set an example, leaving a highly regarded profession and career in favor of economics, because he wanted to HELP people.

But this week, it's been all about one thing. The 2012 London Olympics. I just watched Dominic Rudisha break the world record in the 800m. He has only a dirt track to train on, and though he is a world class athlete, he chooses to live in humble housing at St. Patricks Catholic school in Kenya. A few nights ago I saw Korani James win the 400m, representing his small country of Grenada with great humility and sportsmanship. He is incredibly young, but represented his country with incredible humility and sportsmanship. Easily the best part of these olympic games are the background stories of some of these athletes.

But what I'm hoping to catch a glimpse of is what it takes to be the greatest. I wrote earlier about the discipline required to be a professional, but there are a lot of professionals out there, what does it take to be the BEST? I've heard for years to do the simple things well, and not to fear failure, and to do the simple things well, but this year, I am finally hearing them and feeling inspired. I grew up watching Michael Jordan, and I know I saw Michael Jordan to the Max in theaters, but I think I only really heard it for the first time, watching it a couple nights ago. I feel like it's finally clicking for me, but I see these teenage olympic gymnasts becoming the best in the world at half my age, and have to wonder how they figured out the key to success so young. I think that while a special few people have the will to be the best on their own expectations, having others counting on you and pushing you is a huge factor. Mom driving you to every practice and meet, every weekend and after work, preparing meals, paying huge bills, etc. raises some very real expectations, and I have to imagine that's a factor in success if it doesn't drive you nuts first.

Mentors -- what role do mentors play. The 1500m swimmer from China rose to new heights only after finding his mentor in Australia. When you see two runners under the same coach running the 1500m in the olympics, you have to know that coaching is a huge factor.

Discipline and sacrifice -- of COURSE! What are all the things these athletes have given up? Desserts? TV? Relationships? I'm sure they've lost sleep, suffered intense physical pain, and felt like giving up a number of times. But I have to believe they enjoy it. Enjoy the success, the improvement, and of course the sport they play... if you can call it "play." The 3 time Olympic gold medalist, women's volleyball team retired after 2 medals, but came back for another. Michael Jordan retired after his first 3-peat and his father's death, but came back to win another 3 in a row, then after retiring came back to play for the Wizards. There's much more than suffering and pride that drives these players.

I try not to make a habit of writing about things I know nothing about, and being the best is not something I know, but this is an investigation into what it's going to take for me to be the economist or engineer I want to be. So here's a first stab at a recipe to success:
  1. Strength of character -- humility, discipline, determination, patience, grace, etc.
  2. Fearlessness -- this could fall in with the above list, but I think deserves its own, because it includes not fearing failure, and just as importantly, not fearing success
  3. Coaching -- Life is too short to learn these things on your own. You NEED to stand on the shoulders of giants if you want to compete with other giants.
  4. Love what you are doing -- if you're not passionate about, and enjoy what you're trying to achieve, you will not be the best at it. Period.
  5. Sacrifice -- Life is too short to be the best without giving up some of the extraneous details along the way
  6. Expectations -- It's debatable whether this is a necessity, but I do think it is invaluable. I think it is easier to succeed when you're on a team pushing each other to succeed. It is easier to be the best when everyone expects you to be the best. It's easier to continue on when that is the expectation. If you make all the afore mentioned points the expectation, then I think you have a good chance of being great, and a small glimmering chance at being the best. Also, falling under the category of expectations, I would put schedules and goals. Don't just workout, have a workout regiment, don't just have a reading list, have a reading schedule, etc.
That's all for now, I'm sure this will be updated in the future as more pieces of the puzzle come into view.

Friday, August 3, 2012

Overwhelmed

  • Vocab: 
    • predicate - to base or establish "the economic recovery is predicated on the restructuring of the financial industry"
    • geld - to castrate, weaken, deprive of strength
    • gerrymander - to divide regions by (political) favor
  • Article of the Day: Michael Lewis - California and Bust
    • surprisingly sympathetic views on Meredith Whtiney's call on the muni bond market, and on Governor Schwarzenegger 
  • Fight the sensation of being overwhelmed: Relax, simplify, reduce the number of problems at hand, take a short break, but above all, avoid the urge to hide in distractions!
  • Quote: " 'Famous novelist'? The adjective is inappropriate to the noun. It's like being — 'I'm a famous ceramicist.' Well, you can be a good ceramicist. You can be a rich ceramicist. You can be much admired by other ceramicists. But you aren't famous. That's gone." ~Gore Vidal -- I liked the turn of the phrase there, I should start using it
  • "I live in poverty for I am a river unto my people!" ~Salih Abudhayi, Lawrence of Arabia  -- remember, you can be a river unto the people without being a rich man
  • "thus neglect becomes our ally" ~Edmund Dantes, The Count of Monte Cristo -- learn all you can while staying under the radar
  • Read Counterclockwise by Ellen Langer for how to stay young - 1979-1959 experiment transforming 80yr olds into younger 80yr olds