Put Two Cents In Quotes

If it's a penny for your thoughts and you put in your two cents worth, then someone, somewhere is making a penny.

When someone asks you, A penny for your thoughts, and you put your two cents in, what happens to the other penny?

Republican or Democrat, this nation's affluent urban and suburban classes understand their bread is buttered on the corporate side. The primary difference between the two parties is that the Republicans pretty much admit that they grasp and even endorse some of the nastiest facts of life in America. Republicans honestly tell the world: "Listen in on my phone calls, piss-test me until I'm blind, kill and eat all of my neighbors right in front of my eyes, but show me the money! Let me escape with every cent I can kick out of the suckers, the taxpayers, and anybody else I can get a headlock on, legally or otherwise." Democrats, in contrast, seem content to catalog the GOP's outrages against the Republic, showing proper indignation while laughing at episodes of The Daily Show. But they stand behind the American brand: imperialism. They "support our troops," though you will be hard put to find any of them who have served alongside them or who would send one of their own kids off to lose an eye or an arm in Iraq. They play the imperial game, maintain their credit ratings, and plan to keep the beach house and the retirement investments if it means sacrificing every damned Lynndie England in West Virginia.

A baby is a wishing well. Everyone puts their hopes, their fears, their pasts, their two cents in.

Beautiful credit! The foundation of modern society. Who shall say that this is not the golden age of mutual trust, of unlimited reliance upon human promises? That is a peculiar condition of society which enables a whole nation to instantly recognize point and meaning in the familiar newspaper anecdote, which puts into the mouth of a distinguished speculator in lands and mines this remark: 'I wasn't worth a cent two years ago, and now I owe two millions of dollars.

May I have this damaged bunch for two cents? Speak strongly and it shall be yours for two cents. That is a saved penny that you put in the star bank...Suffer the cold for an hour. Put a shawl around you. Sai, I am cold because I am saving to buy land. That hour will save you three cents' worth of coal... When you are alone at night, do not light the lamp. Sit in the darkness and dream awhile. Reckon out how much oil you saved and put its value in pennies in the bank. The money will grow. Someday there will be fifty dollars and somewhere on this long island is a piece of land that you may buy for that money.

And you expect us to take the word of your … very pregnant wife, over a DNA test? No offense, but pregnancy tends to lower a female’s IQ.” Burnett turned to the warlock, but before he could add his two cents— which didn’t look as if it would be pleasant— Holiday added her own. “That’s funny,” she said, but without humor. “I’ve heard it also makes us vicious if provoked. And for your information, I’d be happy to put my IQ up against yours, pregnant or not.” Hunter, C. C. (2014-05-20). Reborn (Shadow Falls: After Dark) (p. 336). St. Martin's Press. Kindle Edition.

I knew a young man once, he was a most conscientious fellow, and, when he took to fly-fishing, he determined never to exaggerate his hauls by more than twenty-five per cent. “When I have caught forty fish,” said he, “then I will tell people that I have caught fifty, and so on. But I will not lie any more than that, because it is sinful to lie.” But the twenty-five per cent. plan did not work well at all. He never was able to use it. The greatest number of fish he ever caught in one day was three, and you can’t add twenty-five per cent. to three – at least, not in fish. So he increased his percentage to thirty-three-and-a-third; but that, again, was awkward, when he had only caught one or two; so, to simplify matters, he made up his mind to just double the quantity. He stuck to this arrangement for a couple of months, and then he grew dissatisfied with it. Nobody believed him when he told them that he only doubled, and he, therefore, gained no credit that way whatever, while his moderation put him at a disadvantage among the other anglers. When he had really caught three small fish, and said he had caught six, it used to make him quite jealous to hear a man, whom he knew for a fact had only caught one, going about telling people he had landed two dozen. So, eventually, he made one final arrangement with himself, which he has religiously held to ever since, and that was to count each fish that he caught as ten, and to assume ten to begin with. For example, if he did not catch any fish at all, then he said he had caught ten fish – you could never catch less than ten fish by his system; that was the foundation of it. Then, if by any chance he really did catch one fish, he called it twenty, while two fish would count thirty, three forty, and so on. It is a simple and easily worked plan, and there has been some talk lately of its being made use of by the angling fraternity in general. Indeed, the Committee of the Thames Angler’s Association did recommend its adoption about two years ago, but some of the older members opposed it. They said they would consider the idea if the number were doubled, and each fish counted as twenty.

Nick recognized the woman instantly. Not because he knew her personally, but because everyone in Chicago—and probably half the country in light of certain recent events—would recognize her. “Jordan Rhodes?” he asked incredulously. “She’s the richest woman in Chicago.” Huxley brushed this aside with a wave. “Not quite. There’s Oprah, of course. Nobody tops Oprah.” Davis pointed, throwing in his two cents from the head of the table. “And don’t forget the Pritzkers.” “Good call. I think I’d put Jordan Rhodes more around fourth richest,” Huxley mused. Nick leveled them both with a stare. “Fine, let’s just say top five, whatever.

Look,” said the man. “It don’t make no sense. This fella wants eight hunderd men. So he prints up five thousand of them things an’ maybe twenty thousan’ people sees ’em. An’ maybe two-three thousan’ folks gets movin’ account a this here han’bill. Folks that’s crazy with worry.” “But it don’t make no sense!” Pa cried. “Not till you see the fella that put out this here bill. You’ll see him, or somebody that’s workin’ for him. You’ll be a-campin’ by a ditch, you an’fifty other famblies. An’ he’ll look in your tent an’ see if you got anything lef’ to eat. An’ if you got nothin’, he says, ‘Wanna job?’ An’ you’ll say, ‘I sure do, mister. I’ll sure thank you for a chance to do some work.’ An’ he’ll say, ‘I can use you.’ An’ you’ll say, ‘When do I start?’ An’ he’ll tell you where to go, an’ what time, an’ then he’ll go on. Maybe he needs two hundred men, so he talks to five hundred, an’ they tell other folks, an’ when you get to the place, they’s a thousand’, men. This here fella says, ‘I’m payin’ twenty cents an hour.’ An’ maybe half the men walk off. But they’s still five hundred that’s so goddamn hungry they’ll work for nothin’ but biscuits. Well, this here fella’s got a contract to pick them peaches or—chop that cotton. You see now? The more fellas he can get, an’ the hungrier, less he’s gonna pay. An’ he’ll get a fella with kids if he can, ’cause—hell, I says I wasn’t gonna fret ya.

In the context of a national dialogue, perhaps the only authorization required for “putting in your little two cents worth” is the constitutional provision for free speech. Moreover, the basis for the presumptions of dissent and counter-statement is the same as for popping off: the merest hint or suspicion that outrage is being committed against one’s conception of actuality.

His wife, Electra, was a capable helpmeet, although—like himself— a dreamer of dreams and a private dabbler in romance. The first thing she did, after her marriage—child as she was, aged only nineteen— was to buy an acre of ground on the edge of the town, and pay down the cash for it—twenty-five dollars, all her fortune. Saladin had less, by fifteen. She instituted a vegetable garden there, got it farmed on shares by the nearest neighbor, and made it pay her a hundred per cent. a year. Out of Saladin's first year's wage she put thirty dollars in the savings-bank, sixty out of his second, a hundred out of his third, a hundred and fifty out of his fourth. His wage went to eight hundred a year, then, and meantime two children had arrived and increased the expenses, but she banked two hundred a year from the salary, nevertheless, thenceforth. When she had been married seven years she built and furnished a pretty and comfortable two-thousand-dollar house in the midst of her garden-acre, paid half of the money down and moved her family in. Seven years later she was out of debt and had several hundred dollars out earning its living.

ON THE A TRAIN There were no seats to be had on the A train last night, but I had a good grip on the pole at the end of one of the seats and I was reading the beauty column of the Journal-American, which the man next to me was holding up in front of him. All of a sudden I felt a tap on my arm, and I looked down and there was a man beginning to stand up from the seat where he was sitting. "Would you like to sit down?" he said. Well, I said the first thing that came into my head, I was so surprised and pleased to be offered a seat in the subway. "Oh, thank you very much," I said, "but I am getting out at the next station." He sat back and that was that, but I felt all set up and I thought what a nice man he must be and I wondered what his wife was like and I thought how lucky she was to have such a polite husband, and then all of a sudden I realized that I wasn't getting out at the next station at all but the one after that, and I felt perfectly terrible. I decided to get out at the next station anyway, but then I thought, If I get out at the next station and wait around for the next train I'll miss my bus and they only go every hour and that will be silly. So I decided to brazen it out as best I could, and when the train was slowing up at the next station I stared at the man until I caught his eye and then I said, "I just remembered this isn't my station after all." Then I thought he would think I was asking him to stand up and give me his seat, so I said, "But I still don't want to sit down, because I'm getting off at the next station." I showed him by my expression that I thought it was all rather funny, and he smiled, more or less, and nodded, and lifted his hat and put it back on his head again and looked away. He was one of those small, rather glum or sad men who always look off into the distance after they have finished what they are saying, when they speak. I felt quite proud of my strong-mindedness at not getting off the train and missing my bus simply because of the fear of a little embarrassment, but just as the train was shutting its doors I peered out and there it was, 168th Street. "Oh dear!" I said. "That was my station and now I have missed the bus!" I was fit to be fled, and I had spoken quite loudly, and I felt extremely foolish, and I looked down, and the man who had offered me his seat was partly looking at me, and I said, "Now, isn't that silly? That was my station. A Hundred and Sixty-eighth Street is where I'm supposed to get off." I couldn't help laughing, it was all so awful, and he looked away, and the train fidgeted along to the next station, and I got off as quickly as I possibly could and tore over to the downtown platform and got a local to 168th, but of course I had missed my bus by a minute, or maybe two minutes. I felt very much at a loose end wandering around 168th Street, and I finally went into a rudely appointed but friendly bar and had a martini, warm but very soothing, which cost me only fifty cents. While I was sipping it, trying to make it last to exactly the moment that would get me a good place in the bus queue without having to stand too long in the cold, I wondered what I should have done about that man in the subway. After all, if I had taken his seat I probably would have got out at 168th Street, which would have meant that I would hardly have been sitting down before I would have been getting up again, and that would have seemed odd. And rather grasping of me. And he wouldn't have got his seat back, because some other grasping person would have slipped into it ahead of him when I got up. He seemed a retiring sort of man, not pushy at all. I hesitate to think of how he must have regretted offering me his seat. Sometimes it is very hard to know the right thing to do.

Social networking is the most brilliant manifestation yet of the elite’s bread and circuses paradigm. Whereas Caesar had to spend a fortune putting on shows for the plebs, the modern Caesar get the plebs to entertain themselves on Facebook, and it doesn’t cost him a cent. In fact, he can become a multi-billionaire out of it. What a result! The elite must always ensure that the masses are too preoccupied to ever think about the appalling world they live in; to confront the realisation that they are degraded second-class citizens in a two-tier society.

On the labour front in 1919 there was an unprecedented number of strikes involving many millions of workers. One of the lager strikes was mounted by the AF of L against the United States Steel Corporation. At that time workers in the steel industry put in an average sixty-eight-hour week for bare subsistence wages. The strike spread to other plants, resulting in considerable violence -- the death of eighteen striking workers, the calling out of troops to disperse picket lines, and so forth. By branding the strikers Bolsheviks and thereby separating them from their public support, the Corporation broke the strike. In Boston, the Police Department went on strike and governor Calvin Coolidge replaced them. In Seattle there was a general strike which precipitated a nationwide 'red scare'. this was the first red scare. Sixteen bombs were found in the New York Post Office just before May Day. The bombs were addressed to men prominent in American life, including John D. Rockefeller and Attorney General Mitchell Palmer. It is not clear today who was responsible for those bombs -- Red terrorists, Black anarchists, or their enemies -- but the effect was the same. Other bombs pooped off all spring, damaging property, killing and maiming innocent people, and the nation responded with an alarm against Reds. It was feared that at in Russia, they were about to take over the country and shove large cocks into everyone's mother. Strike that. The Press exacerbated public feeling. May Day parades in the big cities were attacked by policemen, and soldiers and sailors. The American Legion, just founded, raided IWW headquarters in the State of Washington. Laws against seditious speech were passed in State Legislatures across the country and thousands of people were jailed, including a Socialist Congressman from Milwaukee who was sentenced to twenty years in prison. To say nothing of the Espionage and Sedition Acts of 1917 which took care of thousands more. To say nothing of Eugene V. Debs. On the evening of 2 January 1920, Attorney General Palmer, who had his eye on the White House, organized a Federal raid on Communist Party offices throughout the nation. With his right-hand assistant, J. Edgar Hoover, at his right hand, Palmer effected the arrest of over six thousand people, some Communist aliens, some just aliens, some just Communists, and some neither Communists nor aliens but persons visiting those who had been arrested. Property was confiscated, people chained together, handcuffed, and paraded through the streets (in Boston), or kept in corridors of Federal buildings for eight days without food or proper sanitation (in Detroit). Many historians have noted this phenomenon. The raids made an undoubted contribution to the wave of vigilantism winch broke over the country. The Ku Klux Klan blossomed throughout the South and West. There were night raidings, floggings, public hangings, and burnings. Over seventy Negroes were lynched in 1919, not a few of them war veterans. There were speeches against 'foreign ideologies' and much talk about 'one hundred per cent Americanism'. The teaching of evolution in the schools of Tennessee was outlawed. Elsewhere textbooks were repudiated that were not sufficiently patriotic. New immigration laws made racial distinctions and set stringent quotas. Jews were charged with international conspiracy and Catholics with trying to bring the Pope to America. The country would soon go dry, thus creating large-scale, organized crime in the US. The White Sox threw the Series to the Cincinnati Reds. And the stage was set for the trial of two Italian-born anarchists, N. Sacco and B. Vanzetti, for the alleged murder of a paymaster in South Braintree, Mass. The story of the trial is well known and often noted by historians and need not be recounted here. To nothing of World War II--

the audience, unaccustomed to any of this, went wild: America! The high point of this whirring, pale-blue era was 1960. The average American earned more than 5,000 dollars a year; a newly built house cost 12,500 dollars, a car 2,600, a pair of shoes 13, a litre of gasoline 6.7 cents. The tail fins on the new Cadillac Eldorado were the largest and sharpest ever seen. In April, the world’s first weather satellite was launched. In the Philippines, the Japanese government tried in vain to coax the last two Japanese soldiers out of the jungle – they refused to believe the war was over. Xerox put the first commercial photocopier on the market. Chubby Checker started a new dance craze, the twist. Frank Sinatra, cigarette in hand, stood and sang in a short film called Music for

He continued teaching. “Watch out for the religion scholars. They love to walk around in academic gowns, preening in the radiance of public flattery, basking in prominent positions, sitting at the head table at every church function. And all the time they are exploiting the weak and helpless. The longer their prayers, the worse they get. But they’ll pay for it in the end.” 41-44 Sitting across from the offering box, he was observing how the crowd tossed money in for the collection. Many of the rich were making large contributions. One poor widow came up and put in two small coins — a measly two cents. Jesus called his disciples over and said, “The truth is that this poor widow gave more to the collection than all the others put together. All the others gave what they’ll never miss; she gave extravagantly what she couldn’t afford — she gave her all.

So, these competitors . . . What do they hope to gain by interfering with your journey?” The instant the question left his mouth, he knew it was too direct. Nicole dropped her gaze and removed her hand from his arm. “With all due respect, Mr. Thornton . . .” Drat. They were back to Mr. Thornton again. “ . . . the details of the business I’m conducting for my father are not your concern.” “They are if they put you in danger. And what of the rest of my staff?” Darius snatched the napkin from his lap and threw it onto the table before lurching to his feet and pacing behind his chair. “I have a right to know if having you here is putting them at risk.” “No greater risk than they face from your exploding boilers!” Nicole shot from her seat, color running high in her cheeks. The audacity of the chit. “I take every precaution—” “As do I.” She glared at him. “The Wellborns are in no peril, especially if they keep my presence here a secret. It’s doubtful that Jenkins’s sons will find me, anyway. Heaven knows they aren’t the sharpest knives in the drawer.” “As master of this house, it’s my duty to know the business of those under my roof.” He didn’t know what nonsense he was spouting now. He didn’t care. Nicole had let a vital piece of information slip in her anger, and he wasn’t about to let the argument cool long enough for her to notice her lapse. “Well, perhaps it’s time I collect the pay I’ve earned and leave you and your roof to your own devices.” Not on her life. The woman would be unprotected. Vulnerable. Easy prey for that Jenkins scum. But he couldn’t let her know his refusal was out of concern for her. She’d simply assure him she’d be fine and walk out the door. Darius crossed his arms over his chest and looked down his nose at her. “You agreed to accept payment after a term of two weeks. I’ll not pay a cent before then. You owe me ten more days, Miss Greyson. Or do you plan to renege on our agreement?” Her hands fisted at her sides. “I never go back on my word.

Spartan Up! Life Lesson No. 3: Always Remember Those Who Serve   In the days when an ice cream sundae cost much less, a ten-year-old boy entered a hotel coffee shop and sat at a table. A waitress put a glass of water in front of him. “How much is an ice cream sundae?” the boy asked. “Fifty cents,” replied the waitress. The little boy pulled his hand out of his pocket and studied the coins in his palm. “Well, how much is a plain dish of ice cream?” he inquired. By now, more people were waiting for a table, and the waitress was growing impatient. “Thirty-five cents,” she replied brusquely. The little boy again counted his coins. ”I’ll have the plain ice cream,” he said. The waitress brought the ice cream, put the bill on the table, and walked away. The boy finished the ice cream, paid the cashier, and left. When the waitress came back to wipe down the table, there, placed neatly beside the empty dish, were two nickels and five pennies. You see, he couldn’t have the sundae, because he had to have enough left to leave her a tip. —Author Unknown

She could envision Shakespeare's sister. But she imagined a violent, an apocalyptic end for Shakespeare's sister, whereas I know that isn't what happened. You see, it isn't necessary. I know that lots of Chinese women, given in marriage to men they abhorred and lives they despised, killed themselves by throwing themselves down the family well. I'm not saying it doesn't happen. I'm only saying that isn't what usually happens. It it were, we wouldn't be having a population problem. And there are so much easier ways to destroy a woman. You don't have to rape or kill her; you don't even have to beat her. You can just marry her. You don't even have to do that. You can just let her work in your office for thirty-five dollars a week. Shakespeare's sister did...follow her brother to London, but she never got there. She was raped the first night out, and bleeding and inwardly wounded, she stumbled for shelter into the next village she found. Realizing before too long that she was pregnant, she sought a way to keep herself and her child safe. She found some guy with the hots for her, realized he was credulous, and screwed him. When she announced her pregnancy to him, a couple months later, he dutifully married her. The child, born a bit early, makes him suspicious: they fight, he beats her, but in the end he submits. Because there is something in the situation that pleases him: he has all the comforts of home including something Mother didn't provide, and if he has to put up with a screaming kid he isn't sure is his, he feels now like one of the boys down at the village pub, none of whom is sure they are the children of the fathers or the fathers of their children. But Shakespeare's sister has learned the lesson all women learn: men are the ultimate enemy. At the same time she knows she cannot get along in the world without one. So she uses her genius, the genius she might have used to make plays and poems with, in speaking, not writing. She handles the man with language: she carps, cajoles, teases, seduces, calculates, and controls this creature to whom God saw fit to give power over her, this hulking idiot whom she despises because he is dense and fears because he can do her harm. So much for the natural relation between the sexes. But you see, he doesn't have to beat her much, he surely doesn't have to kill her: if he did, he'd lose his maidservant. The pounds and pence by themselves are a great weapon. They matter to men, of course, but they matter more to women, although their labor is generally unpaid. Because women, even unmarried ones, are required to do the same kind of labor regardless of their training or inclinations, and they can't get away from it without those glittering pounds and pence. Years spent scraping shit out of diapers with a kitchen knife, finding places where string beans are two cents less a pound, intelligence in figuring the most efficient, least time-consuming way to iron men's white shirts or to wash and wax the kitchen floor or take care of the house and kids and work at the same time and save money, hiding it from the boozer so the kid can go to college -- these not only take energy and courage and mind, but they may constitute the very essence of a life. They may, you say wearily, but who's interested?...Truthfully, I hate these grimy details as much as you do....They are always there in the back ground, like Time's winged chariot. But grimy details are not in the background of the lives of most women; they are the entire surface.

Hartung tells of a horrifying study by the Israeli psychologist George Tamarin. Tamarin presented to more than a thousand Israeli schoolchildren, aged between eight and fourteen, the account of the battle of Jericho in the book of Joshua:   Joshua said to the people, ‘Shout; for the LORD has given you the city. And the city and all that is within it shall be devoted to the LORD for destruction . . . But all silver and gold, and vessels of bronze and iron, are sacred to the LORD; they shall go into the treasury of the LORD.’ . . . Then they utterly destroyed all in the city, both men and women, young and old, oxen, sheep, and asses, with the edge of the sword . . . And they burned the city with fire, and all within it; only the silver and gold, and the vessels of bronze and of iron, they put into the treasury of the house of the LORD.   Tamarin then asked the children a simple moral question: ‘Do you think Joshua and the Israelites acted rightly or not?’ They had to choose between A (total approval), B (partial approval) and C (total disapproval). The results were polarized: 66 per cent gave total approval and 26 per cent total disapproval, with rather fewer (8 per cent) in the middle with partial approval. Here are three typical answers from the total approval (A) group:   In my opinion Joshua and the Sons of Israel acted well, and here are the reasons: God promised them this land, and gave them permission to conquer. If they would not have acted in this manner or killed anyone, then there would be the danger that the Sons of Israel would have assimilated among the Goyim.   In my opinion Joshua was right when he did it, one reason being that God commanded him to exterminate the people so that the tribes of Israel will not be able to assimilate amongst them and learn their bad ways.   Joshua did good because the people who inhabited the land were of a different religion, and when Joshua killed them he wiped their religion from the earth.   The justification for the genocidal massacre by Joshua is religious in every case. Even those in category C, who gave total disapproval, did so, in some cases, for backhanded religious reasons. One girl, for example, disapproved of Joshua’s conquering Jericho because, in order to do so, he had to enter it:   I think it is bad, since the Arabs are impure and if one enters an impure land one will also become impure and share their curse.   Two others who totally disapproved did so because Joshua destroyed everything, including animals and property, instead of keeping some as spoil for the Israelites:   I think Joshua did not act well, as they could have spared the animals for themselves.   I think Joshua did not act well, as he could have left the property of Jericho; if he had not destroyed the property it would have belonged to the Israelites.   Once again the sage Maimonides, often cited for his scholarly wisdom, is in no doubt where he stands on this issue: ‘It is a positive commandment to destroy the seven nations, as it is said: Thou shalt utterly destroy them. If one does not put to death any of them that falls into one’s power, one transgresses a negative commandment, as it is said: Thou shalt save alive nothing that breatheth!

When Robert Livingston, one of the American plenipotentiaries, asked the French negotiators precisely where the Purchase territories extended north-westwards, since very few Europeans, let alone cartographers, had ever set foot there, he was told that they included whatever France had bought off Spain in 1800, but beyond that they simply didn’t know. ‘If an obscurity did not already exist,’ Napoleon advised, ‘it would perhaps be a good policy to put one there.’98 The deal was done after nearly three weeks of tough haggling in Paris with Livingston and his fellow negotiator James Monroe, all conducted against the backdrop of the deteriorating situation over Amiens, and was concluded only days before the resumption of war. The financing was arranged via the Anglo-Dutch merchant banks Barings Brothers and Hopes, which in effect bought Louisiana from France and sold it on to the United States for $11.25 million of 6 per cent American bonds, meaning that the American government did not have to provide the capital immediately.99 As a result, Barings were paying Napoleon 2 million francs a month even when Britain was at war with France. When the prime minister, Henry Addington, asked the bank to cease the remittances Barings agreed, but Hopes, based on the continent, continued to pay and were backed by Barings – so Napoleon got his money and Barings and Hopes made nearly $3 million from the deal. ‘We have lived long,’ said Livingston when the deal was concluded, ‘but this is the noblest work of our whole lives. The treaty which we have just signed has not been obtained by art or dictated by force; equally advantageous to the two contracting parties, it will change vast solitudes into flourishing districts. From this day the United States take their place among the powers of first rank.

So it’s not the sight of stromatolites that makes them exciting. It’s the idea of them – and in this respect they are peerless. Well, imagine it. You are looking at living rocks – quietly functioning replicas of the very first organic structures ever to appear on earth. You are experiencing the world as it was 3.5 billion years ago – more than three-quarters of the way back to the moment of terrestrial creation. Now if that is not an exciting thought, I don’t know what is. As the aforementioned palaeontologist Richard Fortey has put it: ‘This is truly time travelling, and if the world were attuned to its real wonders this sight would be as well-known as the pyramids of Giza.’ Quite right. Stromatolites are rather like corals in that all of their life is on the surface, and that most of what you are looking at is the dead mass of earlier generations. If you peer, you can sometimes see tiny bubbles of oxygen rising in streams from the formations. This is the stromatolite’s only trick and it isn’t much, but it is what made life as we know it possible. The bubbles are produced by primitive algae-like micro-organisms called cyanobacteria, which live on the surface of the rocks – about three billion of them to the square yard, to save you counting – each of them capturing a molecule of carbon dioxide and a tiny beat of energy from the sun and combining them to fuel its unimaginably modest ambitions to exist, to live. The byproduct of this very simple process is the faintest puff of oxygen. But get enough stromatolites respiring away over a long enough period and you can change the world. For two billion years this is all the life there was on earth, but in that time the stromatolites raised the oxygen level in the atmosphere to 20 per cent – enough to allow the development of other, more complex life forms: me, for instance. My gratitude was real. The

We eat in silence for a few minutes, and then Alexandra says, “That reminds me. Matthew, could you escort me to a charity dinner the second Saturday in December? Steven is going to be out of town.” She looks toward me. “I would ask my darling brother to do it, but we all know he spends his Saturday nights with the city slu—” she glances at her daughter “—undesirables.” Before Matthew can answer, Mackenzie puts her two cents in. “I don’t think Uncle Matthew can come, Momma. He been too busy bein’ pussy whipped. Wha’s pussy whipped, Daddy?” As soon as the words leave her angelic little lips, a horrendous chain reaction is set off: Matthew chokes on the black olive in his mouth, which flies out and nails Steven right in the eye. Steven doubles over, holding his eye and yelling, “I’m hit! I’m hit!” and then goes on about how the salt from the olive juice is eating away at his cornea. My father starts coughing. George stands up and begins pounding on his back while asking no one in particular if he should perform the Heimlich. Estelle knocks over her glass of red wine, which quickly seeps into my mother’s lace tablecloth. She makes no move to clean up the mess, but instead chants, “Oh, my goodness. Oh, my goodness.” My mother runs around the dining room like a chicken with its head cut off, searching for non-cloth napkins to wipe up the stain, all the while assuring Estelle that everything’s fine. And Frank…well…Frank just keeps eating. While the chaos continues around us, Alexandra’s death-ray glare never wavers from Matthew and me. After squirming under it for about thirty seconds, Matthew caves. “It wasn’t me, Alexandra. I swear to Christ it wasn’t me.” Chicken shit. Thanks, Matthew. Way to leave my ass blowing in the wind. Remind me never to go to war with him as my wingman. But as The Bitch glower is turned full force on me alone, I forgive him. I feel like at any moment I’ll be reduced to a smoking pile of Drew ash on the chair. I dig deep and give her the sweetest Baby Brother smile I can manage. Take a look. Is it working? I’m so fucking dead. See, there’s one thing about Bitch Justice you should know. It’s swift and merciless. You won’t know when it’s coming; all you can be certain of is that it will come. And when it does, it will be painful. Very, very painful.

I put two bricks side by side in the grass and called it a race. Neither one moved so I renamed it a tie. It’s too bad too, because the winner would have won a new home, with air travel tossed in, a view, a window, and a chance to help start the process of repairing a broken home.


J. Edgerton/ The Spirit of Christmas Page 11 Mr. Angel smiled warmly at the vision of the two boys playing in the snow. “All God’s creatures . . . one and all . . . large and small! But some more important than others, in their magnificence. And I’ve found you both . . . at last”. Jonas took off racing through the snow, the cup in his hand. “Come on James!” James scrambled after him, the snow crunching pleasantly beneath his tiny feet. “Jonas wait for me!” The taller Nicholas stopped before a Cinder Vendor. “Two warm Ciders please, with extra spices.” The Cider Vendor raised an eyebrow as he took in the smudged face of the boy and his shabby clothes. “Very well, young Sir. Have you money? I’m not a charity you know!” Jonas quickly fished out coins and showed him the silver. “Oh yes Sir. I know of charities Sir and you’re better off not being one. They’re a cheat!” The Cider Vendor began filling two cups with steaming apple cider. The sweet smell of it made the boy’s mouth water. The burly Cider Vendor handed him the first cup of sweet, steaming, mouth puckering cider. “Many are, young master!” He replied. “I grew up in the system meself and it was a poor boy’s torment. That’ll be 2 cents!” The littlest Nicholas raced up and slid to a halt in the snow beside him. Jonas handed James the cup of cider. Then he paid the vendor with coins from the tin cup. “That’s highway robbery . . . but very well!” The Cider Vendor squinted through one eye, his thick eyebrow nearly obscuring it. “It’s very good cider, with extra spices.” James face lit up with joy as he took a sip. “M-mmm! It is good cider! J. Edgerton/ The Spirit of Christmas Page 12 The Vendor handed Jonas the second cup of steaming cider. “I’ve not had any complaints. I work hard to make my cider. It’s worth the money.” His lips smacking, Jonas sipped in the warm cider. “I’m sure it is Sir.” The angelic faced little one smiled up at him. “It’s yummy!” The Cider Vendor smiled down at him and tipped his hat to him “Yes it tis! Yummy!” Then he chuckled cheerfully with another satisfied customer, no matter how small. “Ummm, good!” Jonas agreed with them. The Cider Vendor took a sip of his own brew himself, his mouth puckering. “It’ll put the spirit of life back in you on a cold day like this, that Cider.” Two men in tall top hats and fine suits halted in front of the Cider Vendor. “Sir, we are collecting for the poor and wondered if a fine fellow such as yourself might have something to contribute.” Jonas glanced up at them in a wizened way. “We’ve a couple coins to contribute but it better get to the poor, understand?” “Of course, my fine fellow! “The taller of the two sharply dressed gentlemen spoke. Smiling a satisfied smile, Jonas dropped two silver coins into the gentleman’s hands. The tall gentleman took them and tipped his hat, smiling down at them both. “Very generous!” He glanced stone faced at the vendor, who immediately forked over several dollars. “A very Merry Christmas to you both!” They trod off through the snow in their finery, to the welcome crunch of the snow drifts beneath their feet. Mr. Angel paused at the Cheese vendor next to them, where a raggedy young girl was staring wide eyed at the rows and rows of cheeses above her.

In Portland, OR, “Jackie,” a homeless former social worker with muscular dystrophy, was hit with a misdemeanor theft charge for charging her phone from a plug on a planter-base on a sidewalk; she spent a day in jail when she missed her arraignment. The electricity she used to charge her phone was worth a fraction of a cent. She keeps her phone charged for her personal safety. Worried that a pleading guilty would put a black mark on her record that would interfere with her ability to get social housing, she pled innocent. After two court dates with two different public defenders, the DA dropped the charge.

His name is C. J. Skender, and he is a living legend. Skender teaches accounting, but to call him an accounting professor doesn’t do him justice. He’s a unique character, known for his trademark bow ties and his ability to recite the words to thousands of songs and movies on command. He may well be the only fifty-eight-year-old man with fair skin and white hair who displays a poster of the rapper 50 Cent in his office. And while he’s a genuine numbers whiz, his impact in the classroom is impossible to quantify. Skender is one of a few professors for whom Duke University and the University of North Carolina look past their rivalry to cooperate: he is in such high demand that he has permission to teach simultaneously at both schools. He has earned more than two dozen major teaching awards, including fourteen at UNC, six at Duke, and five at North Carolina State. Across his career, he has now taught close to six hundred classes and evaluated more than thirty-five thousand students. Because of the time that he invests in his students, he has developed what may be his single most impressive skill: a remarkable eye for talent. In 2004, Reggie Love enrolled in C. J. Skender’s accounting class at Duke. It was a summer course that Love needed to graduate, and while many professors would have written him off as a jock, Skender recognized Love’s potential beyond athletics. “For some reason, Duke football players have never flocked to my class,” Skender explains, “but I knew Reggie had what it took to succeed.” Skender went out of his way to engage Love in class, and his intuition was right that it would pay dividends. “I knew nothing about accounting before I took C. J.’s class,” Love says, “and the fundamental base of knowledge from that course helped guide me down the road to the White House.” In Obama’s mailroom, Love used the knowledge of inventory that he learned in Skender’s class to develop a more efficient process for organizing and digitizing a huge backlog of mail. “It was the number-one thing I implemented,” Love says, and it impressed Obama’s chief of staff, putting Love on the radar. In 2011, Love left the White House to study at Wharton. He sent a note to Skender: “I’m on the train to Philly to start the executive MBA program and one of the first classes is financial accounting—and I just wanted to say thanks for sticking with me when I was in your class.

Jeremy’s T-Shirts by book: Hard As It Gets “ROUTE 69” “This guy loves BACON” with two hands with their thumbs pointing back at him “Orgasm Donor” with a red cross Big Johnson’s Tattoo Parlor, “You’re going to feel more than a Little Prick” “I’m not Santa but you can still sit on my lap” Hard As You Can Log-holding beaver that says, “Are you looking at my wood?” “I put the long in schlong” Hard to Hold On To "Blink if you're horny" Hard to Come By Hand pointing downward and the words, "May I suggest the sausage?" Charlie (who starts borrowing Jeremy's t-shirts): A smiling fire extinguished that says, "I put out" Charlie: Schnauzer wearing a saddle that says, "Weiner Rides, 25 cents" "HEAD Foundation. Please give generously" Charlie: Mr. T with the words "Mr. T Shirt" There's a party in my pants. You're invited.

CASE STUDY In 2012, investigators were trying to understand why supermarkets in the United States were being robbed every month of Tide detergent – and only Tide detergent. As with every investigation, they ‘followed the money’ only to find that Tide was the money. Bottles of Tide had become an ad hoc street currency, with 150-ounce bottles being exchanged for $5 or $10 worth of drugs, earning it the nickname ‘Liquid Gold’. As New York magazine pointed out: ‘this unlikely black market would not have formed if they weren’t so good at pushing their product’.37 It turns out that despite being considered a ‘low interest category’, people have very strong feelings about their detergents. Tide came in the top three brands that consumers were least likely to give up during tough times. This bond has allowed the producer, Procter & Gamble, to charge 50 per cent more than the average detergent and yet it still outsells its nearest competitor, which is also produced by P&G, by more than two to one. So, what is it about Tide that means more people will pay 50 per cent more for a functionally parity product from the same manufacturer? The investigating sergeant puts it well: ‘I’m a No. 1 Tide fan’, he says. ‘I don’t know if it’s all psychological, but you can tell the difference.’38

The trembly fellow sighed and said, “I’m all out of whack. I’m going uptown and see my doctor.” Mr. Flood snorted again. “Oh, shut up,” he said. “Damn your doctor! I tell you what you do. You get right out of here and go over to Libby’s oyster house and tell the man you want to eat some of his big oysters. Don’t sit down. Stand up at that fine marble bar they got over there, where you can watch the man knife them open. And tell him you intend to drink the oyster liquor; he’ll knife them on the cup shell, so the liquor won’t spill. And be sure you get the big ones. Get them so big you’ll have to rear back to swallow, the size that most restaurants use for fries and stews; God forgive them, they don’t know any better. Ask for Robbins Islands, Mattitucks, Cape Cods, or Saddle Rocks. And don’t put any of that red sauce on them, that cocktail sauce, that mess, that gurry. Ask the man for half a lemon, poke it a time or two to free the juice, and squeeze it over the oysters. And the first one he knifes, pick it up and smell it, the way you’d smell a rose, or a shot of brandy. That briny, seaweedy fragrance will clear your head; it’ll make your blood run faster. And don’t just eat six; take your time and eat a dozen, eat two dozen, eat three dozen, eat four dozen. And then leave the man a generous tip and go buy yourself a fifty-cent cigar and put your hat on the side of your head and take a walk down to Bowling Green. Look at the sky! Isn’t it blue? And look at the girls a-tap-tap-tapping past on their pretty little feet! Aren’t they just the finest girls you ever saw, the bounciest, the rumpiest, the laughingest? Aren’t you ashamed of yourself for even thinking about spending good money on a damned doctor? And along about here, you better be careful. You’re apt to feel so bucked-up you’ll slap strangers on the back, or kick a window in, or fight a cop, or jump on the tailboard of a truck and steal a ride.

Socrates did not mind being overlooked, so why should we? Also, if philosophical talk crops up in the conversations of non-philosophers, be hesitant to put your two-cents’ worth in, spewing out what you have not yet fully digested. When someone says you don’t know anything and it doesn’t bother you, then you will know you are making a good start in philosophy. Sheep don’t show how well they have eaten by vomiting up their grass before their shepherd, but by digesting their food and producing wool and milk. So too for you, don’t regurgitate philosophical propositions to non-philosophers, but show them the actions such propositions lead to in one’s life, once they are digested.

I’ve read two werebear books now. On my kindle. I’m studying you.” Now his hidden smile reached his eyes as he stared out at the cows and shook his head. “They’re very steamy,” she whispered. “I put them on my Kindle. The books were only ninety-nine cents each. I’m telling you this so you can see my effort and the significant amount of money I’ve spent to better understand you.

In 1956 a rather delicate assignment came my way. I visited Switzerland at the invitation of Nestle but with a very specific brief from the Ministry of Industries, Government of India. Industries and Commerce Minister, Manubhai Shah, wanted me to ask the executives at Nestle what they were up to in our country. Under the excuse of producing condensed milk, they were importing not just milk powder, but also sugar and the tin plate for the cans! On my arrival at the airport at Nestle’s headquarters at Vevey, a Nestle car, about a mile long, was waiting to whisk me off to the best hotel in town where they put me up. I met with Kreeber, one of their two managing directors, and some other officers. The discussions turned pretty heated. I told them that my government had given them a licence to set up a plant in India so that they would produce condensed milk from Indian milk, not from imported ingredients. The Managing Director told me that it was not possible to produce condensed milk from buffalo milk, which was available in India. I said to him, ‘If you don’t know how to make it, come to me. I will teach you because I believe we can make it out of buffalo milk. I know it is more complicated than making it from cow’s milk and there are problems, but they are not insurmountable problems.’ When I assured them that it could be done, they said that their experts would have to come and set up their plant. Then they wanted the entire share capital in their hands. In those days government allowed only 49 per cent share capital to foreigners; 51 per cent had to be Indian. Kreeber said they could not agree to that. So I showed them a way out of that too. I said that 49 per cent could be with Nestle Alimentana and 51 per cent could be owned by Nestle India and in this way the entire project could stay in their hands. I was, in fact, facilitating their entry here. Ultimately, the Director agreed to set up a plant in India. At this point I told him that they could bring in any number of foreign experts they liked but my government hoped that, in five years, Indians who would be trained for the purpose would replace these experts. Kreeber’s response to this was that the production of condensed milk was an extremely delicate procedure and they ‘could not leave it to the natives to make’. At this, I lost my temper. Getting to my feet, I thumped the table loudly and said: ‘Please remember that you are speaking to a damned “native”. If you are suggesting that even after five years of training, the “natives” are not fit to occupy any position of authority in Nestle you are insulting my country. My country knows how to do without you.’ And I stormed out of the meeting – which I hope was what any self-respecting Indian would have done.

My office is over here—” He stopped. Frowned. Looked about. Had to backtrack to the kitchen in order to find the various parties. Sola’s grandmother had her head in the Sub-Zero refrigerator, rather as if she were a gnome looking for a cool place in the summer. “Madam?” Assail inquired. She shut the door and moved on to the floor-to-ceiling cabinets. “There is nothing here. Nothing. What do you eat?” “Ah . . .” Assail found himself looking at the cousins for aid. “Usually we take our meals in town.” The scoffing sound certainly appeared like the old-lady equivalent of Fuck that. “I need the staples.” She pivoted on her little shiny shoes and put her hands on her hips. “Who is taking me to supermarket.” Not an inquiry. And as she stared up at the three of them, it appeared as though Ehric and his violent killer of a twin were as nonplussed as Assail was. The evening had been planned out to the minute—and a trip to the local Hannaford was not on the list. “You two are too thin,” she announced, flicking her hand in the direction of the twins. “You need to eat.” Assail cleared his throat. “Madam, you have been brought here for your safety.” He was not going to permit Benloise to up the stakes—and so he’d had to lock down potential collateral damage. “Not to be a cook.” “You have already refused the money. I no stay here for free. I earn my keep. That is the way it will be.” Assail exhaled long and slow. Now he knew where Sola got her independent streak. “Well?” she demanded. “I no drive. Who takes me.” “Madam, would you not prefer to rest—” “Your body rest when dead. Who.” “We do have an hour,” Ehric hedged. As Assail glared at the other vampire, the little old lady hitched her purse up on her forearm and nodded. “So he will take me.” Assail met Sola’s grandmother’s gaze directly and dropped his tone a register just so that the line drawn would be respected. “I pay. Are we clear—you are not to spend a cent.” She opened her mouth as if to argue, but she was headstrong—not foolish. “Then I do the darning.” “Our clothes are in sufficient shape—” Ehric cleared his throat. “Actually, I have a couple of loose buttons. And the Velcro strip on his flak jacket is—” Assail looked over his shoulder and bared his fangs at the idiot—out of eyesight of Sola’s grandmother, of course. Remarshaling his expression, he turned back around and— Knew he’d lost. The grandmother had one of those brows cocked, her dark eyes as steady as any foe’s he’d ever faced. Assail shook his head. “I cannot believe I’m negotiating with you.” “And you agree to terms.” “Madam—” “Then it is settled.” Assail threw up his hands. “Fine. You have forty-five minutes. That is all.” “We be back in thirty.” At that, she turned and headed for the door. In her diminutive wake, the three vampires played ocular Ping-Pong. “Go,” Assail gritted out. “Both of you.” The cousins stalked for the garage door—but they didn’t make it. Sola’s grandmother wheeled around and put her hands on her hips. “Where is your crucifix?” Assail shook himself. “I beg your pardon?” “Are you no Catholic?” My dear sweet woman, we are not human, he thought. “No, I fear not.” Laser-beam eyes locked on him. Ehric. Ehric’s brother. “We change this. It is God’s will.” And out she went, marching through the mudroom, ripping open the door, and disappearing into the garage. As that heavy steel barrier closed automatically, all Assail could do was blink.

It is true that China is planning to reduce its so-called ‘carbon intensity’ quite substantially by 2020. But there is a world of difference between the sensible objective of using fossil fuels more efficiently, which is what this means, and the foolish policy of abandoning fossil fuels, which it has no intention of doing. China’s total carbon emissions are projected to carry on rising—and rising substantially—as its economy grows. This puts into perspective the UK’s commitment, under the Climate Change Act, to near-total decarbonisation. The UK accounts for less than two per cent of global CO2 emissions: indeed, its total CO2 emissions are less than the annual increase in China’s. Never mind, says Lord Deben, chairman of the government-appointed Climate Change Committee, we are in the business of setting an example to the world.

The Union government from 2014 began systematic harassment and persecution of civil society. This harmed civil society but it also hurt India. NGOs provide the third largest workforce in the United States and more than 10 per cent of all Americans work in an NGO.1 In 24 American states out of 50, NGOs actually employ more workers than all the branches of manufacturing combined. It is similar in the United Kingdom. In Europe, 13 per cent of all jobs are in the NGO sector.2 To put this figure in perspective, consider that less than 10 per cent of all jobs in India are in the formal sector. Surely this was then a sector to be boosted and not obstructed, but obstruct is what Modi did. Through his years, the attack on civil society continued as the first two parts of this chapter will show. The third chronicles the heroic and sustained resistance from marginalised communites: Dalits, Muslims, Adivasis and farmers, which forced the government ultimately to retreat on vital issues.

Hereupon there was appointed an able and faithful committee of gentlemen, who printed, from copper-plates, a just number of bills, and flourished, indented, and contrived them in such a manner, as to make it impossible to counterfeit any of them, without a speedy discovery of the counterfeit: besides which, they were all signed by the hands of three belonging to that committee. These bills being of several sums, from two shillings to ten pounds, did confess the Massachuset-colony to be endebted unto the person in whose hands they were, the sums therein expressed; and provision was made, that if any particular bills were irrecoverably lost, or torn, or worn by the owners, they might be recruited without any damage to the whole in general. The publick debts to the sailors and soldiers, now upon the point of mutiny, (for, Arma Tenenti, Omnia dat, qui Justa negat!)[161] were in these bills paid immediately: but that further credit might be given thereunto, it was ordered that they should be accepted by the treasurer, and all officers that were subordinate unto him, in all publick payments, at five per cent, more than the value expressed in them. The people knowing that the tax-act would, in the space of two years at least, fetch into the treasury as much as all the bills of credit thence emitted would amount unto, were willing to be furnished with bills, wherein it was their advantage to pay their taxes, rather than in any other specie; and so the sailors and soldiers put off their bills, instead of money, to those with whom they had any dealings, and they circulated through all the hands in the colony pretty comfortably.

My grandmother swaddled her baby, as they did two thousand years ago, and let him swing on a tree branch so she could do backbreaking work for fifteen cents a day. Lizzie talked about working, herself, too, starting when she was eight or nine years old, long before the era of child labor laws, at the Milford Shoe Company. “My first day, they put me at a sewing machine and give me two pieces a leathuh. They told me how to stitch the pieces togethuh—paht of a man’s shoe. Each time I did that, they told me, drop it inna drawa. I thought, this is easy. Zip, zip, zip, one afta anuthuh. End of the day comes, my drawa is full. Lady next to me, olda woman—she didn’t have so many done. The boss fired her right then. They gave me her job afta that.” From that day on, my aunt worked in factories all her life. Like my mother, she was heavy set but solid, as sturdy and muscled as the men who worked beside her, first at Milford Shoe and later at William Lapworth & Sons, a manufacturer of elastic fabrics, whose British-born owner berated her whenever a needle broke on her sewing machine. Later she worked at Archer Rubber, where a chemical spray left a small scar on her cheek. Her final employer was the Stylon Tile Company, known for making pink and black bathroom tiles, which were hard to handle without cutting her hands. She always called her place of work “the shop.” She was “working down at the shop.” Before I left her house, she always gave me something to take with me, like a bag of her hand-made swiss-chard ravioli, or if it was close to Christmas, a plate of her own Italian cookies. My favorites were the ceci, little fried cookies that looked like ravioli but were stuffed with sweet chestnut and honey filling, or the ones that looked like bowties, called cenci, dusted with powdered sugar. No matter how busy she was, she never let anyone leave her house hungry or empty-handed. Once I accompanied Lizzie to the Sacred Heart Cemetery to help her with all the flower baskets she wanted to lay on the gravestones of lost family members. There’s something about Italians and cemeteries. I was never attracted to cemeteries, never finding any comfort in visiting the dead, but for most of my family, it was like attending a family reunion. Seeing Lizzie moving

Instead, he focuses narrowly on owning a few well-run businesses that earn attractive returns on capital and have the ability to keep reinvesting their free cash flow at high rates of return. And then he has the restraint to “leave things well alone.” He has held Markel for twenty-seven years and made more than one hundred times his money. He has owned Berkshire Hathaway for forty-two years. His largest holding, American Tower Corporation, has risen from seventy-nine cents per share to about $260 since 2002. By constructing an unhurried life in a tranquil place, Akre can “shelter” himself from the influence of other investors’ “brilliant ideas” and “stay focused completely on the things that work for us.” In essence, he’s discovered one well-stocked pond, and he’s content to fish there for the rest of his days. Or, as Akre puts it, “We can’t dance with all the ladies.” All

Put makes us keep a record of every two-cent stamp we buy. He got me a little pocket notebook, like his, for my birthday, to write down items like subway fares so I can transfer them at night to the budget. We do the accounts every night, before we go to bed. That way, we know where we are every day, and if we spend too much one day, we can economize on the next. All I have to do is look at the graph. Put’s very visual. Tonight I’ll be short a nickel—the one I used to call you. He’ll take me back, step by step, over my day and say, ‘Visualize what you did next,’ till he can locate that nickel. He’s nuts about accuracy.” A brief sigh followed this eulogy, which had caused Helena’s eyebrows to rise in disapproval; she had been given her own bank account at the age of ten and taught to keep her own check stubs. “Let me supply the nickel,” she said, opening her pocketbook.

Life is not a cosmic vending machine where you put in your two cents and get what you want when you want it. Life is more like the seasons or the ebb and flow of the tides. We prepare or react to what comes and we are molded and strengthened or shriveled and embittered.

Thomas Malthus (1766–1834) had a growth schema with only two factors of production—natural resources and labour—with no allowance for technical progress, capital formation, or gains from international specialization. In 1798, he portrayed the general situation of humanity as one where population pressure put such strains on the ability of natural resources to produce subsistence that equilibrium would be attained only by various catastrophes. His influence has been strong and persistent, largely because of his forceful rhetoric and primitive scaremongering…He would have been very surprised to discover that Britain in 2003 would have only 1.2 per cent of its working population in agriculture and a life expectation of 78 years.

1 per cent of the world have the same amount of money as 99 per cent of the world put together. Forty-two people hold the same wealth as 3.7 billion of the world’s poorest. The entire wealth of Jeff Bezos, owner of Amazon (my home-away-from-home for binge shopping at 4 a.m. for things I will never need), has increased to $122 billion. Just to give you an idea of how much that is, the whole of government spending in Ethiopia with a population of 105 million people is a mere $95 billion. Why Ethiopians aren’t hunting him down, I do not know. In 1978 the average CEO made about thirty times more than the average worker’s salary. By 2006 the CEOs have seen almost a 950 per cent increase in their earnings. Meanwhile, the average American worker has seen an 11 per cent raise. Bad News About Business

Before you start putting in your two "cents", make sure you have any "sense" to spare first.

Before you start putting in your two "cents", make sure you have some "sense" to spare first.

Economics is a notoriously complicated subject. To make things easier, let’s imagine a simple example. Samuel Greedy, a shrewd financier, founds a bank in El Dorado, California. A. A. Stone, an up-and-coming contractor in El Dorado, finishes his first big job, receiving payment in cash to the tune of $1 million. He deposits this sum in Mr Greedy’s bank. The bank now has $1 million in capital. In the meantime, Jane McDoughnut, an experienced but impecunious El Dorado chef, thinks she sees a business opportunity – there’s no really good bakery in her part of town. But she doesn’t have enough money of her own to buy a proper facility complete with industrial ovens, sinks, knives and pots. She goes to the bank, presents her business plan to Greedy, and persuades him that it’s a worthwhile investment. He issues her a $1 million loan, by crediting her account in the bank with that sum. McDoughnut now hires Stone, the contractor, to build and furnish her bakery. His price is $1,000,000. When she pays him, with a cheque drawn on her account, Stone deposits it in his account in the Greedy bank. So how much money does Stone have in his bank account? Right, $2 million. How much money, cash, is actually located in the bank’s safe? Yes, $1 million. It doesn’t stop there. As contractors are wont to do, two months into the job Stone informs McDoughnut that, due to unforeseen problems and expenses, the bill for constructing the bakery will actually be $2 million. Mrs McDoughnut is not pleased, but she can hardly stop the job in the middle. So she pays another visit to the bank, convinces Mr Greedy to give her an additional loan, and he puts another $1 million in her account. She transfers the money to the contractor’s account. How much money does Stone have in his account now? He’s got $3 million. But how much money is actually sitting in the bank? Still just $1 million. In fact, the same $1 million that’s been in the bank all along. Current US banking law permits the bank to repeat this exercise seven more times. The contractor would eventually have $10 million in his account, even though the bank still has but $1 million in its vaults. Banks are allowed to loan $10 for every dollar they actually possess, which means that 90 per cent of all the money in our bank accounts is not covered by actual coins and notes.2 If all of the account holders at Barclays Bank suddenly demand their money, Barclays will promptly collapse (unless the government steps in to save it). The same is true of Lloyds, Deutsche Bank, Citibank, and all other banks in the world. It sounds like a giant Ponzi scheme, doesn’t it? But if it’s a fraud, then the entire modern economy is a fraud. The fact is, it’s not a deception, but rather a tribute to the amazing abilities of the human imagination. What enables banks – and the entire economy – to survive and flourish is our trust in the future. This trust is the sole backing for most of the money in the world.

Dix laughed, setting down his beer glass. It was time to go. Time to put space between himself and the Nicolais. “Brub should have taken up my racket.” To their questioning eyebrows, he elucidated, “Like ninety-three and one-half per cent of the ex-armed forces, I’m writing a book.” “Another author,” Sylvia mused. “Unlike ninety-two and one-half per cent I’m not writing a book on the war. Or even my autobiography. Just trying to do a novel.

Know what we should do, Willie? We should do what Milton did; put the snow back.” Willie groaned. “I didn’t get much sleep last night.” “Come on, Willie. We can’t let that mean old lady get away with cheating us.” Willie took a deep breath. “Okay,” he said. “Okay.” It didn’t take long, mostly because before they’d shoveled half the snow back on the walk, the door flew open and Mrs. Lima demanded to know what they were doing. “You didn’t want us to do your walk, so we’re putting it back the way it was,” Jackson said. “Fresh-mouth kid!” the woman snapped. “What’s your last name?” “You can call my father,” Jackson said. “He’s a policeman and he doesn’t like people who cheat.” The door slammed hard. Mrs. Lima was stronger than she looked. A minute later it opened again and there she was with two dollars in her hand. “Now I want you to shovel the walk,” she said. “The price has gone up a dollar,” Jackson said. Willie gulped. Mrs. Lima didn’t say a word. She paid the extra dollar and shut the door. When they’d cleaned off the walk for the second time, they left. Willie waved at the window from which she was watching them, but she didn’t wave back. “Think she’s going to call our parents?” Jackson asked. “I don’t know. Probably she’ll call mine,” Willie said. “My dad’s already mad at me and Booboo.” He could feel the tangled knot of worry growing in his chest. “But we didn’t do anything wrong to that lady.” “Maybe not, but she’s an adult.” “Yeah, I see what you mean,” Jackson said. Willie invited him to come in to play, but Jackson said he’d better get home. He gave Willie the extra dollar and told him he could pay the fifty cents when he had the change. “Or you can keep it,” Jackson said. “I mean, you’re the one’s in trouble.” “Thanks, Jackson,” Willie said gratefully. He and Jackson gave each other a high five. The phone was already ringing when Willie walked into the house. “Yes,” he heard his father’s voice answering in the kitchen. Willie pulled off his jacket and boots in the hall. He had no doubt it was Mrs. Lima calling to complain.

One reason why the fracking boom caught everyone by surprise was that fracking had been around since the 1970s. The technology failed to deliver any meaningful results for forty years. It was simply too expensive to be economically viable. Fracking, in fact, was only kept alive thanks to repeated government intervention. The fracking industry was essentially a ward of the state for decades, kept alive by lavish government subsidies, tax breaks, and government-funded research. In 1980, a federal law called the Crude Oil Windfall Profits Tax Act included a tax break for natural gas supplies produced in unconventional ways, like fracking. The purpose of the tax break was to nurture new energy sources. The tax break was stupendously generous, providing 50 cents for every thousand cubic feet of gas. The so-called Section 29 tax break remained in place for decades. The National Bureau of Economic Research estimated in 2007 that the tax break would cost the federal government $3.4 billion between 2007 and 2011 alone. The federal government also stepped in to support the frackers with long-term, expensive, experimental research. It was the kind of research that private companies were reluctant to provide for risky technologies. The government-run Sandia National Laboratories developed the three-dimensional microseismic imaging that made fracking possible. A federal project called the Morgantown Energy Research Center, or MERC, partnered with companies to set up experimental drilling operations to put fracking to the test. It was two engineers with MERC who patented the vital technology to drill horizontally—or directional drilling, as the industry called it. In 1986, a Department of Energy program, partnered with private companies, was the first to demonstrate a multistage, horizontal fracture in the Devonian Shale. In