Prices Education Quotes

Whatever the cost of our libraries, the price is cheap compared to that of an ignorant nation.

Everything I had worked for, all my years of study, had been to purchase for myself this one privilege: to see and experience more truths than those given to me by my father, and to use those truths to construct my own mind. I had come to believe that the ability to evaluate many ideas, many histories, many points of view, was at the heart of what it means to self-create. If I yielded now, I would lose more than an argument. I would lose custody of my own mind. This was the price I was being asked to pay, I understood that now. What my father wanted to cast from me wasn’t a demon: it was me.

It is a sad thing to think of, but there is no doubt that genius lasts longer than beauty. That accounts for the fact that we all take such pains to over-educate ourselves. In the wild struggle for existence, we want to have something that endures, and so we fill our minds with rubbish and facts, in the silly hope of keeping our place. The thoroughly well-informed man--that is the modern ideal. And the mind of the thoroughly well-informed man is a dreadful thing. It is like a bric-a-brac shop, all monsters and dust, with everything priced above its proper value.

No one can build you the bridge on which you, and only you, must cross the river of life. There may be countless trails and bridges and demigods who would gladly carry you across; but only at the price of pawning and forgoing yourself. There is one path in the world that none can walk but you. Where does it lead? Don’t ask, walk!

Radical empathy, on the other hand, means putting in the work to educate oneself and to listen with a humble heart to understand another's experience from their perspective, not as we imagine we would feel. Radical empathy is not about you and what you think you would do in a situation you have never been in and perhaps never will. It is the kindred connection from a place of deep knowing that opens your spirit to the pain of another as they perceive it. Empathy is no substitute for the experience itself. We don't get to tell a person with a broken leg or a bullet wound that they are not in pain. And people who have hit the caste lottery are not in a position to tell a person who has suffered under the tyranny of caste what is offensive or hurtful or demeaning to those at the bottom. The price of privilege is the moral duty to act when one sees another person treated unfairly. And the least that a person in the dominant caste can do is not make the pain any worse.

When I was twelve, I was interviewed by a doctoral candidate in education and asked what I wanted to be when I grew up. I said that I either wanted to be a philosopher or a clown, and I understood then, I think, that much depended on whether or not I found the world worth philosophizing about, and what the price of seriousness might be.

We walked through the streets with our protectors. We wore our dresses. We gave up our education because that was the price of safety. That was the bargain we made with the devil we knew to escape the devil we didn't.

Every successful business (1) creates or provides something of value that (2) other people want or need (3) at a price they're willing to pay, in a way that (4) satisfies the purchaser's needs and expectations and (5) provides the business sufficient revenue to make it worthwhile for the owners to continue operation.

You cannot avoid the interplay of politics within an orthodox religion. The power struggle permeates the training, education and disciplining of the orthodox community. Because of this pressure, the leaders of such a community inevitably much face that ultimate internal question: to succumb to complete opportunism as the price of maintaining their rule, or risk sacrificing themselves for the sake of the orthodox ethic.

Today you can buy the Dialogues of Plato for less than you would spend on a fifth of whiskey, or Gibbon's Decline and Fall of the Roman Empire for the price of a cheap shirt. You can buy a fair beginning of an education in any bookstore with a good stock of paperback books for less than you would spend on a week's supply of gasoline.

There are two visions of America a half century from now. One is of a society more divided between the haves and the have-nots, a country in which the rich live in gated communities, send their children to expensive schools, and have access to first-rate medical care. Meanwhile, the rest live in a world marked by insecurity, at best mediocre education, and in effect rationed health care―they hope and pray they don't get seriously sick. At the bottom are millions of young people alienated and without hope. I have seen that picture in many developing countries; economists have given it a name, a dual economy, two societies living side by side, but hardly knowing each other, hardly imagining what life is like for the other. Whether we will fall to the depths of some countries, where the gates grow higher and the societies split farther and farther apart, I do not know. It is, however, the nightmare towards which we are slowly marching.

The more divided a society becomes in terms of wealth, the more reluctant the wealthy are to spend money on common needs. The rich don’t need to rely on government for parks or education or medical care or personal security.

It's just money," he replied. "It's just paper." "It's time," I said, sharper than I'd meant. "It's the means to purchase time. It's the cost of a new bed in a hospital, a solar panel on a roof; it's a year's salary for a tailor in Dhaka, it's the price of a fishing boat, the cost of an education, it's not money. It's what it could have been.

Africa! Africa! Africa! Africa my motherland! Africa, your people cries for you! Africans must educate their citizens. Africans must reach out to it's people and empower them to build the nation. Africans you are the only people who can liberated your citizens from poverty through education. Africans must pay the price to rebuild the continent.

Education reform doesn't come cheap. But the price of ignorance is far, far greater

I was delighted to see him growing more cautious and skeptical about what he heard, especially when he heard it from someone in apparent authority. I think that is fundamental to a good education. And if it comes back to bite me from time to time, that's a price worth paying.

I was never educated to be an actor. I went to a regular college. It was a great thing for me because I feel that the main thing to get out of college is a thirst for knowledge. College should teach you how to be curious. Most people think that college is the end of education, but it isn't. The ceremony of giving you the diploma is called commencement. And that means you are fit to commence learning because you have learned how to learn.

When it came time to announce the price of the new machine, Jobs did what he would often do in product demonstrations: reel off the features, describe them as being “worth thousands and thousands of dollars,” and get the audience to imagine how expensive it really should be. Then he announced what he hoped would seem like a low price: “We’re going to be charging higher education a single price of $6,500.

The price the Virgin demanded was purity, and the way the educators of Catholic children have interpreted this for nearly two thousand years is sexual chastity. Impurity, we were taught, follows from many sins, but all are secondary to the principal impulse of the devil in the soul--lust.

In England, coffeehouses were dubbed penny-universities, because for the admission price of one cent, a person could sit and be edified all day long by scholars, merchants, travelers, community leaders, gossips, and poets.

We all take such pains to over-educate ourselves. In the wild struggle for existence, we want to have something that endures, and so we fill our minds with rubbish and facts, in the silly hope of keeping our place. The thoroughly well-informed man - that is the modern ideal. And the mind of the thoroughly well-informed man is a dreadful thing. It is like a bric-a-brac shop, all monsters and dust, with everything priced above its proper value.

The publicists of mass-production economics have successfully altered public taste to believe it doesn’t make sense to repair something old when for the same price you can have something new.

When writing a novel a writer should create living people; people not characters. A character is a caricature. If a writer can make people live there may be no great characters in his book, but it is possible that his book will remain as a whole; as an entity; as a novel. If the people the writer is making talk of old masters; of music; of modern painting; of letters; or of science then they should talk of those subjects in the novel. If they do not talk of these subjects and the writer makes them talk of them he is a faker, and if he talks about them himself to show how much he knows then he is showing off. No matter how good a phrase or a simile he may have if he puts it in where it is not absolutely necessary and irreplaceable he is spoiling his work for egotism. Prose is architecture, not interior decoration, and the Baroque is over. For a writer to put his own intellectual musings, which he might sell for a low price as essays, into the mouths of artificially constructed characters which are more remunerative when issued as people in a novel is good economics, perhaps, but does not make literature. People in a novel, not skillfully constructed characters, must be projected from the writer’s assimilated experience, from his knowledge, from his head, from his heart and from all there is of him. If he ever has luck as well as seriousness and gets them out entire they will have more than one dimension and they will last a long time. A good writer should know as near everything as possible. Naturally he will not. A great enough writer seems to be born with knowledge. But he really is not; he has only been born with the ability to learn in a quicker ratio to the passage of time than other men and without conscious application, and with an intelligence to accept or reject what is already presented as knowledge. There are some things which cannot be learned quickly and time, which is all we have, must be paid heavily for their acquiring. They are the very simplest things and because it takes a man’s life to know them the little new that each man gets from life is very costly and the only heritage he has to leave. Every novel which is truly written contributes to the total of knowledge which is there at the disposal of the next writer who comes, but the next writer must pay, always, a certain nominal percentage in experience to be able to understand and assimilate what is available as his birthright and what he must, in turn, take his departure from. If a writer of prose knows enough about what he is writing about he may omit things that he knows and the reader, if the writer is writing truly enough, will have a feeling of those things as strongly as though the writer had stated them. The dignity of movement of an ice-berg is due to only one-eighth of it being above water. A writer who omits things because he does not know them only makes hollow places in his writing. A writer who appreciates the seriousness of writing so little that he is anxious to make people see he is formally educated, cultured or well-bred is merely a popinjay. And this too remember; a serious writer is not to be confounded with a solemn writer. A serious writer may be a hawk or a buzzard or even a popinjay, but a solemn writer is always a bloody owl.

A man must know himself thoroughly if he is going to make a good job out of trading in the speculative markets. To know what I was capable of in the line of folly was a long educational step. I sometimes think that no price is too high for a speculator to pay to learn that which will keep him from getting the swelled head.

The top 1 percent have the best houses, the best educations, the best doctors, and the best lifestyles, but there is one thing that money doesn’t seem to have bought: an understanding that their fate is bound up with how the other 99 percent live.

YOU have to design your own Price tag for the world.

Nothing great was ever achieved without a personal sacrifice. You have to pay the price to realize your goals.

Everything I had worked for, all my years of study, had been to purchase for myself this one privilege: to see and experience more truths than those given to me by my father, and to use those truths to construct my own mind. I had come to believe that the ability to evaluate many ideas, many histories, many points of view, was at the heart of what it means to self-create. If I yielded now, I would lose more than an argument. I would lose custody of my own mind. This was the price I was being asked to pay, I understood that now. What my father wanted to cast from me wasn't a demon: it was me.

One child, one teacher, one pen, and one book can change the world.

The paradox of education is precisely this—that as one begins to become conscious, one begins to examine the society in which he is being educated. —JAMES BALDWIN

Toată lumea se așteaptă ca educația să fie un drept fundamental și nu pun mare preț pe ea când o primesc!

It's good to have a special price to pay for the future and it will pay you in return, in the exact way you would wish to be paid.

is not at all uncommon for women in my country to be illiterate, but to see my mother, a proud and intelligent woman, struggle to read the prices in the bazaar was an unspoken sadness for both of us, I think.

Many masked Autistics are sent to gifted education as children, instead of being referred to disability services.[18] Our apparent high intelligence puts us in a double bind: we are expected to accomplish great things to justify our oddness, and because we possess an enviable, socially prized quality, it’s assumed we need less help than other people, not more.

Whoever said that sin was not fun? Whoever claimed that Lucifer was not handsome, persuasive, easy, friendly? Sin is attractive and desirable. Transgression wears elegant gowns and sparkling apparel. It is highly perfumed; it has attractive features, a soft voice. It is found in educated circles and sophisticated groups. It provides sweet and comfortable luxuries. Sin is easy and has a big company of pleasant companions. It promises immunity from restrictions, temporary freedoms. It can momentarily satisfy hunger, thirst, desire, urges, passions, wants without immediately paying the price. But, it begins tiny, and grows to monumental proportions - drop by drop, inch by inch.

I consider it completely irresponsible that public schools offer sex education but no systematic guidance to adolescent girls, who should be thinking about how they want to structure their future lives: do they want children, and if so, when should that be scheduled, with the advantages and disadvantages of each option laid out. Because of the stubborn biological burden of pregnancy and childbirth, these are issues that will always affect women more profoundly than men. Starting a family early has its price for an ambitions young woman, a career hiatus that may be difficult to overcome. On the other hand, the reward of being with one's children in their formative years, instead of farming out that fleeting and irreplaceable experience to day care centres or nannies, has an inherent emotional and perhaps spiritual value that has been lamentable ignored by second-wave feminism.

Doomed is a nation that puts a price tag on information and label it "education

If every book was judged by its cover, very few would be read; education would be limited, and fewer movies would be made.

People have traditionally turned to ritual to help them frame and acknowledge and ultimately even find joy in just such a paradox of being human - in the fact that so much of what we desire for our happiness and need for our survival comes at a heavy cost. We kill to eat, we cut down trees to build our homes, we exploit other people and the earth. Sacrifice - of nature, of the interests of others, even of our earlier selves - appears to be an inescapable part of our condition, the unavoidable price of all our achievements. A successful ritual is one that addresses both aspects of our predicament, recalling us to the shamefulness of our deeds at the same time it celebrates what the poet Frederick Turner calls "the beauty we have paid for with our shame." Without the double awareness pricked by such rituals, people are liable to find themselves either plundering the earth without restraint or descending into self-loathing and misanthropy. Perhaps it's not surprising that most of us today bring one of those attitudes or the other to our conduct in nature.

Here is a principle to use in all aspects of economics and policy. When you find a good or service that is in huge demand but the supply is so limited to the point that the price goes up and up, look for the regulation that is causing it. This applies regardless of the sector, whether transportation, gas, education, food, beer, or daycare. There is something in the way that is preventing the market from working as it should. If you look carefully enough, you will find the hand of the state making the mess in question.

All great achievements arose from dissatisfaction. It is the desire to do better, to dig deeper that propels a civilization to greatness. All of us have heard the story of Icarus, the young boy who took the wings his father built for him. Wings that were meant to carry him over the ocean to freedom and used them instead for a joyride. For a brief moment Icarus felt what it was like to live like a god, to touch the sun, to soar above the common man. And for doing so he payed the ultimate price. Like Icarus we too have been given gifts: knowledge, education, experience. And with these gifts comes the responsibility of choice. We alone decide how our talents are bestowed upon the world. This is our destiny and we hold it in the palm of our hands.

We live in a society where people are uncomfortable with not knowing. Children aren’t taught to say ‘I don’t know,’ and honesty in this form is rarely modeled for them. They too often see adults avoiding questions and fabricating answers, out of either embarrassment or fear, and this comes at a price. To solve the world’s most challenging problems, we need innovative minds that are inspired in the presence of uncertainty. Let’s support parents and educators who are raising the next generation of creative thinkers.” —Annaka Harris (Secular News Daily, 2012)

To focus on technique is like cramming your way through school. You sometimes get by, perhaps even get good grades, but if you don’t pay the price day in and day out, you never achieve true mastery of the subjects you study or develop an educated mind.

to see and experience more truths than those given to me by my father, and to use those truths to construct my own mind. I had come to believe that the ability to evaluate many ideas, many histories, many points of view, was at the heart of what it means to self-create. If I yielded now, I would lose more than an argument. I would lose custody of my own mind. This was the price I was being asked to pay, I understood that now. What my father wanted to cast from me wasn’t a demon: it was me. Dad reached

For me, it does not 'miss' if (the Potteries Thinkbelt study) goes into the archive, not as an example of how railway carriages can be used for teaching, but as one of the most powerful question marks ever placed against the architecture of university education.

there are still times when the thief I started out to be feels more authentic to me than the priest I’ve been for decades. To be pulled out of a slum and educated is to be an outsider forever—" He stopped talking, deeply embarrassed. Giuliani could never understand the price scholarship boys paid for their education: the inevitable alienation from your uncomprehending family, from roots, from your own first person, from the original "I" you once were.

The oldest problem in economic education is how to exclude the incompetent. A certain glib mastery of verbiage-the ability to speak portentously and sententiously about the relation of money supply to the price level-is easy for the unlearned and may even be aided by a mildly enfeebled intellect. The requirement that there be ability to master difficult models, including ones for which mathematical competence is required, is a highly useful screening device.

The blessing was a mercy. He was offering me the same terms of surrender he had offered my sister. I imagined what a relief it must have been for her, to realize she could trade her reality—the one she shared with me—for his. How grateful she must have felt to pay such a modest price for her betrayal. I could not judge her for her choice, but in that moment I knew I could not choose it for myself. Everything I had worked for, all my years of study, had been to purchase for myself this one privilege: to see and experience more truths than those given to me by my father, and to use those truths to construct my own mind. I had come to believe that the ability to evaluate many ideas, many histories, many points of view, was at the heart of what it means to self-create. If I yielded now, I would lose more than an argument. I would lose custody of my own mind. This was the price I was being asked to pay, I understood that now. What my father wanted to cast from me wasn’t a demon: it was me.

I told him about my unsuccessful job hunting. He said it was all part of the pattern of economics - economic injustice. 'You take a young white boy. He can go though school and college with a real incentive. He knows he can make good money in any profession when he gets out. But can a Negro - in the South? No, I've seen many make brilliant grades in college. And yet when they come home in the summers to earn a little money, they have to do the most menial work. And even when they graduate it's a long hard pull. Most take postal jobs, or preaching or teaching jobs. This is the cream. What about the others , Mr. Griffin? A man knows no matter how hard he works , he's never going to quite manage...taxes and prices eat up more than he can earn. He can't see how he'll ever have a wife and children. The economic structure just doesn't permit it unless he's prepared to live down in poverty and have his wife work too. That's part of it. Our people aren't educated because they can't afford it or else they know education won't earn them the jobs it would a white men.

I'm [Paul O'Neill] an old guy, and I'm rich. And there's nothing they can do to hurt me.

There is a price to be paid for any accomplishment.

If you want to be successful. You must pay the price in advance.

No better example of the price of economic dependency may be culled from U.S. history than the sustained erosion of the African American’s civil rights.

There is a sacred cost for everything.

To submit one’s self to one’s gift is to submit oneself to education and self-development and to devote enough time to improve one’s gift

When the average black American has one-thirteenth the net worth and the average Hispanic American has one-tenth the net worth of the average white American,10 and when the poverty rate among Native Americans is over three times that of whites,11 it is a strong bet that neighborhoods of color are more likely to be poor neighborhoods with higher crime and that higher-priced neighborhoods with easier access to jobs and more funding for education that lead to less crime would be more likely to be populated by comparatively wealthier white people.

When it comes to competing with the best and brightest in whatever your talents or educational skills are, you have to have the confidence within yourself that you are able to achieve.

I had come to believe that the ability to evaluate many ideas, many histories, many points of view, was at the heart of what it means to self-create. If I yielded now, I would lose more than an argument. I would lose custody of my own mind. This was the price I was being asked to pay, I understood that now. What my father wanted to cast from me wasn't a demon: it was me.

I've heard that there was a time when there were schools, when we were taught things, and educated. They do not exist anymore; they are things of legend now, whispered about in awe, as so many other things are. Things that we used to have and enjoy, but will never again know if your kind has anything to do with it! There is survival of the fittest, and then there is cruelty. I may be paying the price now for my role in the resistance, but I wouldn't change a thing. I stood up for what I believe in, I have pride in what I believe in, and no matter what you do to me, you can't take that fact away!

(Cedric Price produced the Potteries Thinkbelt) ...project which questioned most of the cherished establishment premises of university education and substituted in their place their complete inversion.

You cannot avoid the interplay of politics within an orthodox religion. This power struggle permeates the training, educating and disciplining of the orthodox community. Because of this pressure, the leaders of such a community inevitably must face that ultimate internal question: to succumb to complete opportunism as the price of maintaining their rule, or risk sacrificing themselves for the sake of the orthodox ethic.

Art is central to all our lives, not just the better-off and educated. . . I know that from my own story, and from the evidence of every child ever born — they all want to hear and to tell stories, to sing, to make music, to act out little dramas, to paint pictures, to make sculptures. This is born in and we breed it out. And then, when we have bred it out, we say that art is elitist, and at the same time we either fetishize art — the high prices, the jargon, the inaccessibility — or we ignore it. The truth is, artist or not, we are all born on the creative continuum, and that is a heritage and a birthright of all of our lives.

Once everyone can enrich their souls for free, government subsidies for enrichment forfeit their rationale. To object, 'But most people don't use the Internet for spiritual enrichment' is actually a damaging admission that eager students are few and far between. Subsidized education's real aim isn't to make ideas and culture accessible to anyone who's interested, but to make them mandatory for everyone who *isn't* interested . . . The rise of the Internet has two unsettling lessons . . . First: the humanist case for education subsidies is flimsy today because the Internet makes enlightenment practically free. Second: the humanist case for education subsidies was flimsy all along because the Internet proves low consumption of ideas and culture stems from apathy, not poverty or inconvenience. Behold: when the price of enlightenment drops to zero, remains embarrassingly scarce.

The students who feel alienated by current systems of standardization and testing may walk out the door, and it’s left to them and others to pay the price in unemployment benefits and other social programs. These problems are not accidental by-products of standardized education; they are a structural feature of these systems. They were designed to process people according to particular conceptions of talent and economic need and were bound to produce winners and losers in just those terms. And they do. Many of these “externalities” could be avoided if education genuinely gave all students the same opportunities to explore their real capabilities and create their best lives.

It is very nearly impossible . . . to become an educated person in a country so distrustful of the independent mind. --“They Can’t Turn Back,” in Mademoiselle (New York, Aug. 1960; repr. in The Price of the Ticket, 1985)     The

Education, in order to keep up the mighty delusion, encourages a species of ignorance. People are not taught to be really virtuous, but to behave properly. We are wicked because we are frightfully self-conscious. We nurse a conscience because we are afraid to tell the truth to others; we take refuge in pride because we are afraid to tell the truth to ourselves. How can one be serious with the world when the world itself is so ridiculous! The spirit of barter is everywhere. Honour and Chastity! Behold the complacent salesman retailing the Good and True. One can even buy a so-called Religion, which is really but common morality sanctified with flowers and music. Rob the Church of her accessories and what remains behind? Yet the trusts thrive marvelously, for the prices are absurdly cheap, --a prayer for a ticket to heaven, a diploma for an honourable citizenship. Hide yourself under a bushel quickly, for if your real usefulness were known to the world you would soon be knocked down to the highest bidder by the public auctioneer. Why do men and women like to advertise themselves so much? Is it not but an instinct derived from the days of slavery?

Instead, the adults around us saw school as a quest for a certificate, a stamp of approval you could show around later in life. Rather than valuing the process of education itself and the essential critical thinking skills that can be gained from it, they saw school as a means to an end.

Thomas Kuhn’s book The Structure of Scientific Revolutions has probably been more widely read—and more widely misinterpreted—than any other book in the recent philosophy of science. The broad circulation of his views has generated a popular caricature of Kuhn’s position. According to this popular caricature, scientists working in a field belong to a club. All club members are required to agree on main points of doctrine. Indeed, the price of admission is several years of graduate education, during which the chief dogmas are inculcated. The views of outsiders are ignored. Now I want to emphasize that this is a hopeless caricature, both of the practice of scientists and of Kuhn’s analysis of the practice. Nevertheless, the caricature has become commonly accepted as a faithful representation, thereby lending support to the Creationists’ claims that their views are arrogantly disregarded.

Not only that, but the Swedes managed to be rich and successful as well, unlike Britain, say, where the primary goal of socialists always seemed to be to make everyone as poor and backward as a shop steward in a British Leyland factory. For years, Sweden was to me the perfect society. It was hard enough to come to terms with the fact that the price to be paid for this was a scandalously high cost of living and an approach to life that had all the gusto of an undertakers’ convention, but to find now that there was litter everywhere and educated people peeing on shop fronts was almost too much.

The paradox of education is precisely this—that as one begins to become conscious one begins to examine the society in which he is being educated. --“The Negro Child—His Self-Image,” in Saturday Review (New York, 21 Dec. 1963; repr. in The Price of the Ticket as “A Talk to Teachers,” 1985)     Europe

SO, WHERE DOES this leave us? If we can’t rely on the market forces of supply and demand to set optimal market prices, and we can’t count on free-market mechanisms to help us maximize our utility, then we may need to look elsewhere. This is especially the case with society’s essentials, such as health care, medicine, water, electricity, education, and other critical resources. If you accept the premise that market forces and free markets will not always regulate the market for the best, then you may find yourself among those who believe that the government (we hope a reasonable and thoughtful government) must play a larger role in regulating some market activities, even if this limits free enterprise. Yes, a free market based on supply, demand, and no friction would be the ideal if we were truly rational. Yet when we are not rational but irrational, policies should take this important factor into account.

Digital technologies will no more solve the so-called ‘crisis in education’ than airbags will stop drivers from having accidents.  What digital technologies can do, however, is to dramatically accelerate the changes in behaviours, values, and actions, which then transform the way we learn and our capacity to learn.

The history of black workers in the United States illustrates the point. As already noted, from the late nineteenth-century on through the middle of the twentieth century, the labor force participation rate of American blacks was slightly higher than that of American whites. In other words, blacks were just as employable at the wages they received as whites were at their very different wages. The minimum wage law changed that. Before federal minimum wage laws were instituted in the 1930s, the black unemployment rate was slightly lower than the white unemployment rate in 1930. But then followed the Davis-Bacon Act of 1931, the National Industrial Recovery Act of 1933 and the Fair Labor Standards Act of 1938—all of which imposed government-mandated minimum wages, either on a particular sector or more broadly. The National Labor Relations Act of 1935, which promoted unionization, also tended to price black workers out of jobs, in addition to union rules that kept blacks from jobs by barring them from union membership. The National Industrial Recovery Act raised wage rates in the Southern textile industry by 70 percent in just five months and its impact nationwide was estimated to have cost blacks half a million jobs. While this Act was later declared unconstitutional by the Supreme Court, the Fair Labor Standards Act of 1938 was upheld by the High Court and became the major force establishing a national minimum wage. As already noted, the inflation of the 1940s largely nullified the effect of the Fair Labor Standards Act, until it was amended in 1950 to raise minimum wages to a level that would have some actual effect on current wages. By 1954, black unemployment rates were double those of whites and have continued to be at that level or higher. Those particularly hard hit by the resulting unemployment have been black teenage males. Even though 1949—the year before a series of minimum wage escalations began—was a recession year, black teenage male unemployment that year was lower than it was to be at any time during the later boom years of the 1960s. The wide gap between the unemployment rates of black and white teenagers dates from the escalation of the minimum wage and the spread of its coverage in the 1950s. The usual explanations of high unemployment among black teenagers—inexperience, less education, lack of skills, racism—cannot explain their rising unemployment, since all these things were worse during the earlier period when black teenage unemployment was much lower. Taking the more normal year of 1948 as a basis for comparison, black male teenage unemployment then was less than half of what it would be at any time during the decade of the 1960s and less than one-third of what it would be in the 1970s. Unemployment among 16 and 17-year-old black males was no higher than among white males of the same age in 1948. It was only after a series of minimum wage escalations began that black male teenage unemployment not only skyrocketed but became more than double the unemployment rates among white male teenagers. In the early twenty-first century, the unemployment rate for black teenagers exceeded 30 percent. After the American economy turned down in the wake of the housing and financial crises, unemployment among black teenagers reached 40 percent.

Global warming, environmental degradation, global flows of economic speculation and risk taking, overpopulation, global debt, new viruses, terrorism and warfare, and political polarization are killing us. Dealing with big questions takes a long-term view, cooperation, delayed gratification, and deep learning that crosses traditional silos of knowledge production. All of these are in short supply today. In the United States and much of the developed world, decisions are based on short-term interests and gain (e.g., stock prices or election cycles), as well as pandering to ignorance. Such decisions make the world worse, not better, and bring Armageddon ever closer.

It’s worth ten times the price to get you out of those things. Besides, I’ve got credits to burn.” He did. They all did. The more they worked, the more credits they got. The more they got, the more they needed to spend them before they expired, which they did after a year. You didn’t need to save them. All the things that Maya’s generation had saved for—a home of one’s own, retirement, the kids’ college education, medical emergencies—all those were now each person’s birthright. When the surplus was totaled each year—for the City inevitably ended up with a net surplus—it was simply a measure that they had produced more than they consumed, given more than they took back.

I could not judge her for her choice, but in that moment I knew I could not choose it for myself. Everything I had worked for, all my years of study, had been to purchase for myself this one privilege: to see and experience more truths than those given to me by my father, and to use those truths to construct my own mind. I had come to believe that the ability to evaluate many ideas, many histories, many points of view, was at the heart of what it means to self-create. If I yielded now, I would lose more than an argument. I would lose custody of my own mind. This was the price I was being asked to pay, I understood that now. What my father wanted to cast from me wasn’t a demon: it was me.

A century ago, historians of technology felt that individual inventors were the main actors that brought about the Industrial Revolution. Such heroic interpretations were discarded in favor of views that emphasized deeper economic and social factors such as institutions, incentives, demand, and factor prices. It seems, however, that the crucial elements were neither brilliant individuals nor the impersonal forces governing the masses, but a small group of at most a few thousand people who formed a creative community based on the exchange of knowledge. Engineers, mechanics, chemists, physicians, and natural philosophers formed circles in which access to knowledge was the primary objective. Paired with the appreciation that such knowledge could be the base of ever-expanding prosperity, these elite networks were indispensable, even if individual members were not. Theories that link education and human capital to technological progress need to stress the importance of these small creative communities jointly with wider phenomena such as literacy rates and universal schooling.

It is not that the historian can avoid emphasis of some facts and not of others. This is as natural to him as to the mapmaker, who, in order to produce a usable drawing for practical purposes, must first flatten and distort the shape of the earth, then choose out of the bewildering mass of geographic information those things needed for the purpose of this or that particular map. My argument cannot be against selection, simplification, emphasis, which are inevitable for both cartographers and historians. But the map-maker's distortion is a technical necessity for a common purpose shared by all people who need maps. The historian's distortion is more than technical, it is ideological; it is released into a world of contending interests, where any chosen emphasis supports (whether the historian means to or not) some kind of interest, whether economic or political or racial or national or sexual. Furthermore, this ideological interest is not openly expressed in the way a mapmaker's technical interest is obvious ("This is a Mercator projection for long-range navigation-for short-range, you'd better use a different projection"). No, it is presented as if all readers of history had a common interest which historians serve to the best of their ability. This is not intentional deception; the historian has been trained in a society in which education and knowledge are put forward as technical problems of excellence and not as tools for contending social classes, races, nations. To emphasize the heroism of Columbus and his successors as navigators and discoverers, and to de-emphasize their genocide, is not a technical necessity but an ideological choice. It serves- unwittingly-to justify what was done. My point is not that we must, in telling history, accuse, judge, condemn Columbus in absentia. It is too late for that; it would be a useless scholarly exercise in morality. But the easy acceptance of atrocities as a deplorable but necessary price to pay for progress (Hiroshima and Vietnam, to save Western civilization; Kronstadt and Hungary, to save socialism; nuclear proliferation, to save us all)-that is still with us. One reason these atrocities are still with us is that we have learned to bury them in a mass of other facts, as radioactive wastes are buried in containers in the earth. We have learned to give them exactly the same proportion of attention that teachers and writers often give them in the most respectable of classrooms and textbooks. This learned sense of moral proportion, coming from the apparent objectivity of the scholar, is accepted more easily than when it comes from politicians at press conferences. It is therefore more deadly. The treatment of heroes (Columbus) and their victims (the Arawaks)-the quiet acceptance of conquest and murder in the name of progress-is only one aspect of a certain approach to history, in which the past is told from the point of view of governments, conquerors, diplomats, leaders. It is as if they, like Columbus, deserve universal acceptance, as if they-the Founding Fathers, Jackson, Lincoln, Wilson, Roosevelt, Kennedy, the leading members of Congress, the famous Justices of the Supreme Court-represent the nation as a whole. The pretense is that there really is such a thing as "the United States," subject to occasional conflicts and quarrels, but fundamentally a community of people with common interests. It is as if there really is a "national interest" represented in the Constitution, in territorial expansion, in the laws passed by Congress, the decisions of the courts, the development of capitalism, the culture of education and the mass media.

Universities today loudly proclaim their commitment to diversity. But in the meantime, democratization through public investment has been replaced by democratization through consumer credit, effectively transferring the costs of diversity back to the individual student and her family. The beauty of securitized credit is that it excludes no one a priori. By abstracting from class stratification in the present, it can accommodate all differences preemptively simply by pricing them at variable rates and deferring repayment to some barely imaginable point in the future. In principle, we all have access to a college education, no matter how much we or our parents earn. Yet, private credit does not merely obscure the effects of class; it also actively exacerbates inequality by forcing those without income or collateral to pay higher rates for the same service. When the long-term costs of credit begin to materialize and accumulate, students are once again confronted with the intractable resistances of class, race, and gender stratification. The divisions of family wealth reassert themselves with all their historical force.

It was Southern, therefore, to put it brutally, because of the history of America—the United States of America: and small black boys and girls were now paying for this holocaust. They were attempting to go to school. They were attempting to get an education, in a country in which education is a synonym for indoctrination, if you are white, and subjugation, if you are black. It was rather as though small Jewish boys and girls, in Hitler’s Germany, insisted on getting a German education in order to overthrow the Third Reich. Here they were, nevertheless, scrubbed and shining, in their never-to-be-forgotten stiff little dresses, in their never-to-be-forgotten little blue suits, facing an army, facing a citizenry, facing white fathers, facing white mothers, facing the progeny of these co-citizens, facing the white past, to say nothing of the white present: small soldiers, armed with stiff, white dresses, and long or short dark blue pants, entering a leper colony, and young enough to believe that the colony could be healed, and saved. They paid a dreadful price, those children, for their missionary work among the heathen.

I would be remiss if I did not acknowledge that there is higher crime in some cities where larger minority populations live. Yes, black men are more likely to commit a violent offense than white men. No, this is not “black-on-black” or “brown-on-brown” crime. Those terms are 100 percent racist. It’s crime. We don’t call crime that happens in white communities “white-on-white” crime, even though the majority of crimes against white people are perpetrated by other white people. Crime is a problem within communities. And communities with higher poverty, fewer jobs, and less infrastructure are going to have higher crime, regardless of race. When the average black American has one-thirteenth the net worth and the average Hispanic American has one-tenth the net worth of the average white American,10 and when the poverty rate among Native Americans is over three times that of whites,11 it is a strong bet that neighborhoods of color are more likely to be poor neighborhoods with higher crime and that higher-priced neighborhoods with easier access to jobs and more funding for education that lead to less crime would be more likely to be populated by comparatively wealthier white people.

This education startled even a man who had dabbled in fifty educations all over the world; for, if he were obliged to insist on a Universe, he seemed driven to the Church. Modern science guaranteed no unity. The student seemed to feel himself, like all his predecessors, caught, trapped, meshed in this eternal drag-net of religion. In practice the student escapes this dilemma in two ways: the first is that of ignoring it, as one escapes most dilemmas; the second is that the Church rejects pantheism as worse than atheism, and will have nothing to do with the pantheist at any price. In wandering through the forests of ignorance, one necessarily fell upon the famous old bear that scared children at play; but, even had the animal shown more logic than its victim, one had learned from Socrates to distrust, above all other traps, the trap of logic -- the mirror of the mind. Yet the search for a unit of force led into catacombs of thought where hundreds of thousands of educations had found their end. Generation after generation of painful and honest-minded scholars had been content to stay in these labyrinths forever, pursuing ignorance in silence, in company with the most famous teachers of all time. Not one of them had ever found a logical highroad of escape.

Be Willing to Pay the Price If people knew how hard I had to work to gain my mastery, it wouldn’t seem wonderful at all. MICHELANGELO Renaissance sculptor and painter who spent 4 years lying on his back painting the ceiling of the Sistine Chapel Behind every great achievement is a story of education, training, practice, discipline, and sacrifice. You have to be willing to pay the price. Maybe that price is pursuing one single activity while putting everything else in your life on hold. Maybe it’s investing all of your own personal wealth or savings. Maybe it’s the willingness to walk away from the safety of your current situation. But though many things are typically required to reach a successful outcome, the willingness to do what’s required adds that extra dimension to the mix that helps you persevere in the face of overwhelming challenges, setbacks, pain, and even personal

The Chinese government assigns capital to everything. Infrastructure development. Industrial plant buildout. Transport systems. Educational systems. Health systems. Everything and anything that puts people in jobs. Excruciatingly little of it would qualify as “wise capital allocation.” The goal isn’t efficiency or profitability, but instead achieving the singular political goal of overcoming regional, geographic, climatic, demographic, ethnic, and millennia of historical barriers to unity. No price is too high.

It is a sad thing to think of, but there is no doubt that Genius lasts longer than Beauty. That accounts for the fact that we all take such pains to over-educate ourselves. In the wild struggle for existence, we want to have something that endures, and so we fill our minds with rubbish and facts, in the silly hope of keeping our place. The thoroughly well informed man, – that is the modern ideal. And the mind of the thoroughly well informed man is a dreadful thing. It is like a bric-à-brac shop, all monsters and dust, and everything priced above its proper value.

Ultimately, given the current cultural norms, only one kind of woman can pursue her life with absolute peace of mind, enjoying both her own satisfaction and society’s approval: the woman who has one or more children she wants to have, who feels enriched by this experience and has not paid too high a price for it, whether thanks to her comfortable financial circumstances, to a working life that is fulfilling but still leaves time for family, to a partner who does their share of the educational and domestic tasks, to a wider circle—of relatives and friends—that helps out, or thanks to all these things at once.

The age-old trick of transfer pricing Taking advantage of the fact that they operate in countries with different tax rates, TNCs [transnational corporations] have their subsidiaries over-charge or under-charge each other – sometimes grossly – so that profits are highest in those subsidiaries operating in countries with the lowest corporate tax rates. In this way, their global post-tax profit is maximized. A 2005 report by Christian Aid, the development charity, documents cases of under-priced exports like TV antennas from China at $0.40 apiece, rocket launchers from Bolivia at $40 and US bulldozers at $528 and over-priced imports such as German hacksaw blades at $5,485 each, Japanese tweezers at $4,896 and French wrenches at $1,089. The Starbucks and Google cases were different from those examples only in that they mainly involved ‘intangible assets’, such as brand licensing fees, patent royalties, interest charges on loans and in-house consultancy (e.g., coffee quality testing, store design), but the principle involved was the same. When TNCs evade taxes through transfer pricing, they use but do not pay for the collective productive inputs financed by tax revenue, such as infrastructure, education and R&D. This means that the host economy is effectively subsidizing TNCs.

We've reached a point in human history where higher education no longer works. As a result of technology, higher education in its traditional college setting no longer works. It will never be effective or progressive enough to keep up with the growing needs of employers who look to college institutions for their future employees. I can appreciate the good intent the college system set out to achieve. For previous generations, the formula actually worked. Students enrolled into universities that were affordable, they gained marketable skills and they earned good jobs. Since there was a proven track record of success, parents instilled the value of college in their children thinking they would achieve the same success story they did, but unfortunately Wall Street was watching. Wall Street, the federal government and the college system ganged up and skyrocketed the cost of tuition to record highs. This was easy to do because not only did they have posters blanketing high schools showing kids what a loser they would be if they didn't go to college, they also had Mom and Dad at home telling them the same thing. This system - spending 4+ years pursuing a college education when the world is changing at the speed of light - no longer works and it's not fixable. We now have the biggest employer's market in human history, where employers have their pick of the litter, and because of this employees will get paid less and less and benefits will continue to erode.

These educated parents subjected the poor five-year old girl to every possible torture. They beat her, flogged her, kicked her, not knowing why themselves, until her whole body was nothing but bruises; finally they attained the height of finesse: in the freezing cold, they locked her all night in the outhouse, because she wouldn't ask to get up and go in the middle of the night (as if a five-year-old child sleeping its sound angelic sleep could have learned to ask by that age)--for that they smeared her face with her excrement and made her eat the excrement, and it was her mother, her mother who made her! And this mother could sleep while her poor little child was moaning all night in that vile place! Can you understand that a small creature, who cannot even comprehend what is being done to her, in a vile place, in the dark and the cold, beats herself on her strained little chest with her tiny fist and weeps with her anguished, gentle, meek tears for 'dear God' to protect her--can you understand such nonsense, my friend and my brother, my godly and humble novice, can you understand why this nonsense is needed and created? Without it, they say, man could not even have lived on earth, for he would not have known good and evil. Who wants to know this damned good and evil at such a price? The whole world of knowledge is not worth the tears of that little child to 'dear God.' I'm not talking about the suffering of grown-ups, they ate the apple and to hell with them, let the devil take them all, but these little ones!

In her book The Government-Citizen Disconnect, the political scientist Suzanne Mettler reports that 96 percent of American adults have relied on a major government program at some point in their lives. Rich, middle-class, and poor families depend on different kinds of programs, but the average rich and middle-class family draws on the same number of government benefits as the average poor family. Student loans look like they were issued from a bank, but the only reason banks hand out money to eighteen-year-olds with no jobs, no credit, and no collateral is because the federal government guarantees the loans and pays half their interest. Financial advisers at Edward Jones or Prudential can help you sign up for 529 college savings plans, but those plans' generous tax benefits will cost the federal government an estimated $28.5 billion between 2017 and 2026. For most Americans under the age of sixty-five, health insurance appears to come from their jobs, but supporting this arrangement is one of the single largest tax breaks issued by the federal government, one that exempts the cost of employer-sponsored health insurance from taxable incomes. In 2022, this benefit is estimated to have cost the government $316 billion for those under sixty-five. By 2032, its price tag is projected to exceed $6oo billion. Almost half of all Americans receive government-subsidized health benefits through their employers, and over a third are enrolled in government-subsidized retirement benefits. These participation rates, driven primarily by rich and middle-class Americans, far exceed those of even the largest programs directed at low income families, such as food stamps (14 percent of Americans) and the Earned Income Tax Credit (19 percent). Altogether, the United States spent $1.8 trillion on tax breaks in 2021. That amount exceeded total spending on law enforcement, education, housing, healthcare, diplomacy, and everything else that makes up our discretionary budget. Roughly half the benefits of the thirteen largest individual tax breaks accrue to the richest families, those with incomes that put them in the top 20 percent. The top I percent of income earners take home more than all middle-class families and double that of families in the bottom 20 percent. I can't tell you how many times someone has informed me that we should reduce military spending and redirect the savings to the poor. When this suggestion is made in a public venue, it always garners applause. I've met far fewer people who have suggested we boost aid to the poor by reducing tax breaks that mostly benefit the upper class, even though we spend over twice as much on them as on the military and national defense.

Ideally, work is consecrated. It is something that happens within the present moment . . . Ideally, work is just another beautiful form of joining the cosmic sparkle. But this is an ideal. . . . I worked as a psychiatrist in public institutions . . . for nearly 20 years. During the last 12 of those years, I was consciously trying to be mindful of love, to practice the presence of God. It was the most frustrating thing I ever tried to do. . . . as soon as I entered the ward everything changed. I was immediately kidnapped. I was gone: away from the present, away from any sense of love or its source, away from even appreciating my own being. . . Looking back, it seems clear that I went into my sense of responsibility for the diagnosis and care of the patients. . . . And there was so much paperwork! Most days I would remain forgetful until my work was done and I was driving home. Then I would remember, and such sadness would fill me. Where had I been? How could I have allowed myself to be so captured? I can remember driving home one day after I had spent a long time feeling helpless with a very disturbed patient. I actually slapped myself in the face when I realized I could have been praying for her and praying for myself instead of just worrying about what to do. I tried everything . . . and still it did not “work”. . . . It stopped only when I left the psychiatric institutions and started working full-time with Shalem. . . . I go into this detail because what I am saying does not apply only to psychiatric institutions. It applies, to some extent, to almost every institution we have. It applies to education and social work, to government and business, and to religious institutions as well. People are stuck in all these places, and they can neither get out of them nor find a loving quality of presence within them. Love demands defenselessness, and in many if not most of our workplaces that is just too high a price.

My hypothesis is mimetic: because humans imitate one another more than animals, they have had to find a means of dealing with contagious similarity, which could lead to the pure and simple disappearance of their society. The mechanism that reintroduces difference into a situation in which everyone has come to resemble everyone else is sacrifice. Humanity results from sacrifice; we are thus the children of religion. What I call after Freud the founding murder, in other words, the immolation of a sacrificial victim that is both guilty of disorder and able to restore order, is constantly re-enacted in the rituals at the origin of our institutions. Since the dawn of humanity, millions of innocent victims have been killed in this way in order to enable their fellow humans to live together, or at least not to destroy one another. This is the implacable logic of the sacred, which myths dissimulate less and less as humans become increasingly self-aware. The decisive point in this evolution is Christian revelation, a kind of divine expiation in which God through his Son could be seen as asking for forgiveness from humans for having revealed the mechanisms of their violence so late. Rituals had slowly educated them; from then on, humans had to do without. Christianity demystifies religion. Demystification, which is good in the absolute, has proven bad in the relative, for we were not prepared to shoulder its consequences. We are not Christian enough. The paradox can be put a different way. Christianity is the only religion that has foreseen its own failure. This prescience is known as the apocalypse. Indeed, it is in the apocalyptic texts that the word of God is most forceful, repudiating mistakes that are entirely the fault of humans, who are less and less inclined to acknowledge the mechanisms of their violence. The longer we persist in our error, the stronger God’s voice will emerge from the devastation. […] The Passion unveiled the sacrificial origin of humanity once and for all. It dismantled the sacred and revealed its violence. […] By accepting crucifixion, Christ brought to light what had been ‘hidden since the foundation of the world,’ in other words, the foundation itself, the unanimous murder that appeared in broad daylight for the first time on the cross. In order to function, archaic religions need to hide their founding murder, which was being repeated continually in ritual sacrifices, thereby protecting human societies from their own violence. By revealing the founding murder, Christianity destroyed the ignorance and superstition that are indispensable to such religions. It thus made possible an advance in knowledge that was until then unimaginable. […] A scapegoat remains effective as long as we believe in its guilt. Having a scapegoat means not knowing that we have one. Learning that we have a scapegoat is to lose it forever and to expose ourselves to mimetic conflicts with no possible resolution. This is the implacable law of the escalation to extremes. The protective system of scapegoats is finally destroyed by the Crucifixion narratives as they reveal Jesus’ innocence, and, little by little, that of all analogous victims. The process of education away from violent sacrifice is thus underway, but it is going very slowly, making advances that are almost always unconscious. […] Mimetic theory does not seek to demonstrate that myth is null, but to shed light on the fundamental discontinuity and continuity between the passion and archaic religion. Christ’s divinity which precedes the Crucifixion introduces a radical rupture with the archaic, but Christ’s resurrection is in complete continuity with all forms of religion that preceded it. The way out of archaic religion comes at this price. A good theory about humanity must be based on a good theory about God. […] We can all participate in the divinity of Christ so long as we renounce our own violence.

For instance, there was the case of Nancy Schmeing, who had recently earned her doctorate in physics at the Massachusetts Institute of Technology. Incredibly, Schmeing failed the reading comprehension section of the new [Massachusetts] teacher test, which required one to quickly read short essays and then choose the one "best" answer among those provided by the test maker. The exam supposedly assessed one's ability to boil down the essential meanings of prose. Schmeing's failing the reading section created a small furor about the test's credibility. After graduating from MIT, Schmeing worked as a technical consultant, translating engineering, science, and business documents for clients around the world. Thus, the very nature of her work necessitated the ability to find essential meanings in written texts, to comprehend a writer's purpose, and so forth. Moreover, Schmeing was a Fulbright scholar, had graduated magnum cum laude from college ... Schmeing's failure simply defied common sense, fueling concerns over the exam's predictive validity.

When we have to pay a lot for something nice, we appreciate it to the full. Yet as its price in the market falls, passion has a habit of fading away. Why, then, do we associate a cheap price with lack of value? Our response is a hangover from our long preindustrial past. For most of human history, there truly was a strong correlation between cost and value: The higher the price, the better things tended to be, because there was simply no way both for prices to be low and for quality to be high. It is not that we refuse to buy inexpensive or cheap things. It's just that getting excited over cheap things has come to seem a little bizarre. How do we reverse this? The answer lies in a slightly unexpected area: the mind of a four-year-old. Children have two advantages: They don't know what they're supposed to like and they don't understand money, so price is never a guide to value for them. We buy them a costly wooden toy made by Swedish artisans who hope to teach lessons in symmetry and find that they prefer the cardboard box that it came in. If asked to put a price on things, children tend to answer by the utility and charm of an object, not its manufacturing costs. We have been looking at prices the wrong way. We have fetishised them as tokens of intrinsic value; we have allowed them to set how much excitement we are allowed to have in given areas, how much joy is to be mined in particular places. But prices were never meant to be like this: We are breathing too much life into them and thereby dulling too many of our responses to the inexpensive world. At a certain age, something very debilitating happens to children. They start to learn about "expensive" and "cheap" and absorb the view that the more expensive something is, the better it may be. They are encouraged to think well of saving up pocket money and to see the "big" toy they are given as much better than the "cheaper" one. We can't directly go backwards; we can't forget what we know of prices. However, we can pay less attention to what things cost and more to our own responses. We need to rethink our relationship to prices. The price of something is principally determined by what it cost to make, not how much human value is potentially to be derived from it.

To maintain the P/PC Balance, the balance between the golden egg (production) and the health and welfare of the goose (production capability) is often a difficult judgment call. But I suggest it is the very essence of effectiveness. It balances short term with long term. It balances going for the grade and paying the price to get an education. It balances the desire to have a room clean and the building of a relationship in which the child is internally committed to do it—cheerfully, willingly, without external supervision. It’s a principle you can see validated in your own life when you burn the candle at both ends to get more golden eggs and wind up sick or exhausted, unable to produce any at all; or when you get a good night’s sleep and wake up ready to produce throughout the day. You can see it when you press to get your own way with someone and somehow feel an emptiness in the relationship; or when you really take time to invest in a relationship and you find the desire and ability to work together, to communicate, takes a quantum leap. The P/PC Balance is the very essence of effectiveness. It’s validated in every arena of life. We can work with it or against it, but it’s there.

Days in summer, Basil, are apt to linger,” murmured Lord Henry. “Perhaps you will tire sooner than he will. It is a sad thing to think of, but there is no doubt that genius lasts longer than beauty. That accounts for the fact that we all take such pains to over-educate ourselves. In the wild struggle for existence, we want to have something that endures, and so we fill our minds with rubbish and facts, in the silly hope of keeping our place. The thoroughly well-informed man—that is the modern ideal. And the mind of the thoroughly well-informed man is a dreadful thing. It is like a bric-a-brac shop, all monsters and dust, with everything priced above its proper value. I think you will tire first, all the same. Some day you will look at your friend, and he will seem to you to be a little out of drawing, or you won’t like his tone of colour, or something. You will bitterly reproach him in your own heart, and seriously think that he has behaved very badly to you. The next time he calls, you will be perfectly cold and indifferent. It will be a great pity, for it will alter you. What you have told me is quite a romance, a romance of art one might call it, and the worst of having a romance of any kind is that it leaves one so unromantic.

In his job as a financial educator, Keith had spent a fair amount of time breaking down the act — and sometimes art — of short selling, in a way that less savvy customers could understand. When a trader believed a company was in trouble, and its stock was overvalued, they could 'borrow' shares, sell them, and then when the stock went down as they'd predicted, rebuy the shares at a lower price, return them to whoever they'd borrowed them from, and pocket the difference. If GameStop was trading at 5, you could borrow 100 shares, sell them for $500; when the stock hit 1, you bought back the 100 shares for $100, returned them, pocketing $400 for yourself. You paid a little fee to the lender for their trouble and came out with a tidy profit. But what happened if the stock went up instead of down? What happened if GameStop figured out how to capitalize on its millions of nostalgic customers, who spent billions on video games every year? What if the stock went to 10 instead of 1? What happened was, the short seller was royally screwed. He'd borrowed those 100 shares and sold them at 5. Now the stock was at 10, but he still needed to return his 100 shares. Buying them on the market at 10 meant spending $1000. And what was worse, when he'd borrowed the shares, he'd agreed on a timeline to return them. There was a ticking clock hanging over his head, so he had a choice — buy the shares back at 10 now, losing $500 on the deal — or wait a little longer, hoping the stock went back down before his time limit was up. And what if he waited, and the stock kept going up? Sooner or later, he had to buy those shares back. Even if the stock went to 15, 20 — he was on the hook for those 100 shares. Theoretically, there was no limit to how much he could lose.

The phone rang. It was a familiar voice. It was Alan Greenspan. Paul O'Neill had tried to stay in touch with people who had served under Gerald Ford, and he'd been reasonably conscientious about it. Alan Greenspan was the exception. In his case, the effort was constant and purposeful. When Greenspan was the chairman of Ford's Council of Economic Advisers, and O'Neill was number two at OMB, they had become a kind of team. Never social so much. They never talked about families or outside interests. It was all about ideas: Medicare financing or block grants - a concept that O'Neill basically invented to balance federal power and local autonomy - or what was really happening in the economy. It became clear that they thought well together. President Ford used to have them talk about various issues while he listened. After a while, each knew how the other's mind worked, the way married couples do. In the past fifteen years, they'd made a point of meeting every few months. It could be in New York, or Washington, or Pittsburgh. They talked about everything, just as always. Greenspan, O'Neill told a friend, "doesn't have many people who don't want something from him, who will talk straight to him. So that's what we do together - straight talk." O'Neill felt some straight talk coming in. "Paul, I'll be blunt. We really need you down here," Greenspan said. "There is a real chance to make lasting changes. We could be a team at the key moment, to do the things we've always talked about." The jocular tone was gone. This was a serious discussion. They digressed into some things they'd "always talked about," especially reforming Medicare and Social Security. For Paul and Alan, the possibility of such bold reinventions bordered on fantasy, but fantasy made real. "We have an extraordinary opportunity," Alan said. Paul noticed that he seemed oddly anxious. "Paul, your presence will be an enormous asset in the creation of sensible policy." Sensible policy. This was akin to prayer from Greenspan. O'Neill, not expecting such conviction from his old friend, said little. After a while, he just thanked Alan. He said he always respected his counsel. He said he was thinking hard about it, and he'd call as soon as he decided what to do. The receiver returned to its cradle. He thought about Greenspan. They were young men together in the capital. Alan stayed, became the most noteworthy Federal Reserve Bank chairman in modern history and, arguably the most powerful public official of the past two decades. O'Neill left, led a corporate army, made a fortune, and learned lessons - about how to think and act, about the importance of outcomes - that you can't ever learn in a government. But, he supposed, he'd missed some things. There were always trade-offs. Talking to Alan reminded him of that. Alan and his wife, Andrea Mitchell, White House correspondent for NBC news, lived a fine life. They weren't wealthy like Paul and Nancy. But Alan led a life of highest purpose, a life guided by inquiry. Paul O'Neill picked up the telephone receiver, punched the keypad. "It's me," he said, always his opening. He started going into the details of his trip to New York from Washington, but he's not much of a phone talker - Nancy knew that - and the small talk trailed off. "I think I'm going to have to do this." She was quiet. "You know what I think," she said. She knew him too well, maybe. How bullheaded he can be, once he decides what's right. How he had loved these last few years as a sovereign, his own man. How badly he was suited to politics, as it was being played. And then there was that other problem: she'd almost always been right about what was best for him. "Whatever, Paul. I'm behind you. If you don't do this, I guess you'll always regret it." But it was clearly about what he wanted, what he needed. Paul thanked her. Though somehow a thank-you didn't seem appropriate. And then he realized she was crying.

This extreme situation in which all data is processed and all decisions are made by a single central processor is called communism. In a communist economy, people allegedly work according to their abilities, and receive according to their needs. In other words, the government takes 100 per cent of your profits, decides what you need and then supplies these needs. Though no country ever realised this scheme in its extreme form, the Soviet Union and its satellites came as close as they could. They abandoned the principle of distributed data processing, and switched to a model of centralised data processing. All information from throughout the Soviet Union flowed to a single location in Moscow, where all the important decisions were made. Producers and consumers could not communicate directly, and had to obey government orders. For instance, the Soviet economics ministry might decide that the price of bread in all shops should be exactly two roubles and four kopeks, that a particular kolkhoz in the Odessa oblast should switch from growing wheat to raising chickens, and that the Red October bakery in Moscow should produce 3.5 million loaves of bread per day, and not a single loaf more. Meanwhile the Soviet science ministry forced all Soviet biotech laboratories to adopt the theories of Trofim Lysenko – the infamous head of the Lenin Academy for Agricultural Sciences. Lysenko rejected the dominant genetic theories of his day. He insisted that if an organism acquired some new trait during its lifetime, this quality could pass directly to its descendants. This idea flew in the face of Darwinian orthodoxy, but it dovetailed nicely with communist educational principles. It implied that if you could train wheat plants to withstand cold weather, their progenies will also be cold-resistant. Lysenko accordingly sent billions of counter-revolutionary wheat plants to be re-educated in Siberia – and the Soviet Union was soon forced to import more and more flour from the United States.

What's in the papers then, Son?" he asked with the curtness of a father. "Nothing much, Dad," his son answered. "I saw that those newts have got up as far as Dresden, though." "Germanys had it then," Mr. Povondra asserted. "They're funny people you know, those Germans. They're well educated, but they're funny. I knew a German once, chauffeur he was for some factory; and he wasn't half coarse, this German. Mind you, he kept the car in good condition, I'll say that for him. And now look, Germanys disappearing from the map of the world," Mr. Povondra ruminated. "And all that fuss they used to make! Terrible, it was: everything for the army and everything for the soldiers. But not even they were any match for these newts. And I know about these newts, you know that, don't you. Remember when I took you out to show you one of them when you were only so high?" "Watch out, Dad," said his son, "you've got a bite." "That's only a tiddler," the old man grumbled as he twitched on his rod. Even Germany now, he thought to himself. No-one even bats an eyelid at it these days. What a song and dance they used to make at first whenever these newts flooded anywhere! Even if it was only Mesopotamia or China, the papers were full of it. Not like that now, Mr. Povondra contemplated sadly, staring out at his rod. You get used to anything, I suppose. At least they're not here, though; but I wish the prices weren't so high! Think what they charge for coffee these days! I suppose that's what you have to expect if they go and flood Brazil. If part of the world disappears underwater it has its effect in the shops. The float on Mr. Povondra's line danced about on the ripples of the water. How much of the world is it they've flooded so far then?, the old man considered. There's Egypt and India and China - they've even gone into Russia; and that was a big country, that was, Russia! When you think, all the way up from the Black Sea as far the Arctic Circle - all water! You can't say they haven't taken a lot of our land from us! And their only going slowly .. "Up as far as Dresden then, you say?" the old man spoke up. "Ten miles short of Dresden. That means almost the whole of Saxony will soon be under water." "I went there once with Mr. Bondy," Father Povondra told him. "Ever so rich, they were there, Frank. The food wasn't much good though. Nice people, though. Much better than the Prussians. No comparison.