Abundance of scarcity

That’s where we are now, or one of the places, so sayeth Matt Levine:

Basically it is easy, using blockchain technology, to create scarce claims. You could I suppose use this technology to create scarce claims to scarce resources: You could put, like, housing deeds or shares of corporate ownership or cargo-container manifests on the blockchain. This would — people have argued for years — have benefits in terms of efficiency and legibility and tradability. It would create value by improving the processes by which real-world assets are transferred and allocated. Classic financial-services stuff. Nobody talks that much about this anymore.

Instead, people like to use blockchain technology to create scarce claims to abundant, or infinite, resources. There is absolutely no shortage of JPEGs, they are infinitely reproducible more or less for free, but that means — or meant — that you couldn’t become a millionaire by having good taste in JPEGs. But now people can create a unique non-fungible token representing ownership of a JPEG and use it as a status symbol or a speculative asset. Nobody will pay you for a number in your computer’s memory, but people will pay you for a scarce number in your computer’s memory.

Stop shaking your head – it’ll hurt your neck. Or just wait.

Theoretical normal person: If you could do a thing that wasn’t just bad for but ruinous to your country’s political system – but it was very good for your profits, would you do it?
Our actual media: Do what?

Such is our national media paralyzed on the question of how to cover Biden, how to normalize authoritarian white nationalism and get Trump back. Ratings are down and they’re in a bad way, which means they’ll gladly put us [all] in a worse one to keep the eyeballs rolling in and the clicks coming.

It’s really something.

Civilisations

I’ve been re-reading an old issue of Harper’s Magazine from 2007 that I came across in the home kids office while looking for something else – love when that happens, though it’s something that is being disappeared by our ability to search the internet and find only what we want (but that’s another issue for another Friday).

Anyway, there’s a fantastic article by Pankaj Mishra in that issue, a review of two books on India and China. A man after my own heart, the article is called It’s a round world after all: India, China, and the global economy and Mishra provides full service by going back to the musings of Henry Luce in Time and Life to show how western commentators, governments, markets and financial sectors (currently, we are ruled in all but name by a mash-up of these last three two) have consistently gotten China and India wrong, with vast and mostly irredeemable consequences for all of us. Unfortunately, this fine piece of history and journalism is behind a paywall and hence, will not be our focus right now, but I encourage you to seek it out if at all possible (come hither, internets!).

What I will share is this review by Mishra of Civilisation: The West and Rest by Niall Ferguson, wherein he essentially uses Ferguson’s book to chart the same map – the folly of our solipsistic worldview regarding Asia, history, basically any other people. After starting off with an analogy using my favorite protag and yours, Nick Carraway, for a side riff on Ferguson’s earlier book, the Pity of War, he gets on to the matter at hand:

This wistful vision of an empire on which the sun need never have set had an immediately obvious defect. It grossly underestimated – in fact, ignored altogether – the growing strength of anti-colonial movements across Asia, which, whatever happened in Europe, would have undermined Britain’s dwindling capacity to manage its vast overseas holdings. At the time, however, The Pity of War seemed boyishly and engagingly revisionist, and it established Ferguson’s reputation: he was opinionated, ‘provocative’ and amusing, all things that seem to be more cherished in Britain’s intellectual culture than in any other.

In retrospect, The Pity of War’s Stoddardesque laments about the needless emasculation of Anglo-Saxon power announced a theme that would become more pronounced as Ferguson, setting aside his expertise in economic history, emerged as an evangelist-cum-historian of empire. He was already arguing in The Cash Nexus, published a few months before the terrorist attacks of 11 September 2001, that ‘the United States should be devoting a larger percentage of its vast resources to making the world safe for capitalism and democracy’ – if necessary by military force. ‘Let me come clean,’ he wrote in the New York Times Magazine in April 2003, a few weeks after the shock-and-awe campaign began in Iraq, ‘I am a fully paid-up member of the neoimperialist gang.’

Empire: How Britain Made the Modern World (2003), Ferguson’s next book, appeared in America with a more didactic subtitle: ‘The Rise and Demise of the British World Order and the Lessons for Global Power’. The word ‘empire’ still caused some unease in the US, whose own national myths originated in an early, short-lived and selective anti-imperialism. An exasperated Ferguson – ‘the United States,’ he claimed, ‘is an empire, in short, that dare not speak its name’ – set out to rescue the word from the discredit into which political correctness had apparently cast it. Britain’s 19th-century empire ‘undeniably pioneered free trade, free capital movements and, with the abolition of slavery, free labour. It invested immense sums in developing a global network of modern communications. It spread and enforced the rule of law over vast areas.’ ‘Without the spread of British rule around the world,’ he went on, in a typical counterfactual manoeuvre, colonised peoples, such as Indians, would not have what are now their most valuable ideas and institutions – parliamentary democracy, individual freedom and the English language.

America should now follow Britain’s example, Ferguson argued, neglecting to ask why it needed to make the modern world if Britain had already done such a great job. He agreed with the neocon Max Boot that the United States should re-create across Asia the ‘enlightened foreign administration once provided by self-confident Englishmen in jodhpurs and pith helmets’. ‘The work needs to begin, and swiftly,’ he wrote, ‘to encourage American students at the country’s leading universities to think more seriously about careers overseas.’

Ferguson’s proposed ‘Anglobalisation’ of the world was little more than an updated version of American ‘modernisation theory’, first proposed as an alternative to Communism during the Cold War, and now married to revolutionary violence of the kind for which Communist regimes had been reviled. It makes for melancholy reading in 2011. But in the first heady year of the global war on terror, easy victories over the ragtag army of the Taliban ignited megalomaniacal fantasies about the ‘Rest’ across a broad ideological spectrum in Anglo-America, from Ann Coulter arguing that ‘we should invade their countries, kill their leaders and convert them to Christianity’ to the unctuous ‘Empire-Lite’ of Michael Ignatieff and the ‘liberal imperialism’ peddled by Robert Cooper, one of Blair’s fly-by-night gurus. ‘Islamofascism’ seemed as evil as Nazism, Saddam Hussein was another Hitler, a generation-long battle loomed, and invocations of Winston Churchill – ‘the greatest’, according to Ferguson, ‘of all Anglo-Americans’, his resolute defence of English-speaking peoples commemorated by a bust in the Bush White House – seemed to stiffen spines all across the Eastern Seaboard.

The reception a writer receives in a favourable political context can be the making of him. This applies particularly well to Ferguson, whose books are known less for their original scholarly contribution than for containing some provocative counterfactuals. In Britain, his bluster about the white man’s burden, though largely ignored by academic historians, gained substance from a general rightward shift in political and cultural discourse, which made it imperative for such apostles of public opinion as Andrew Marr to treat Ferguson with reverence. But his apotheosis came in the United States, where – backed by the prestige of Oxbridge and, more important, a successful television series – he became a wise Greek counsellor to many aspiring Romans. He did not have to renounce long-held principles to be elevated to a professorship at Harvard, primetime punditry on CNN and Fox, and high-altitude wonkfests at Davos and Aspen. He quickly and frictionlessly became the most conspicuous refugee from post-imperial Britain to cheerlead Washington’s (and New York’s) consensus.

Ignore This

Don’t even think about the fact that 2010 saw the largest spike in global warming gases in 50 million years:

Harmful carbon emissions from burning fossil fuels made their biggest ever annual jump in 2010, according to the US Department of Energy’s latest world data released this week.

China led the way with a spike of 212 million metric tons of carbon in 2010 over 2009, compared to 59 million metric tons more from the United States and 48 million metric tons more from India in the same period.

“It’s big,” Tom Boden, director of the Carbon Dioxide Information Analysis Center Environmental Sciences Division at the DOE’s Oak Ridge National Laboratory in Tennessee, told AFP in an interview.

“Our data go back to 1751, even before the Industrial Revolution. Never before have we seen a 500-million-metric-ton carbon increase in a single year,” he said.

Mm Hmm. So there’s at least two levels here: what you are doing personally to address this fact (it counts) plus what are the useless politicians who represent you doing. Unless I’m mistaken (and/or you’re reading this from another country), that’s two levels of apathy. Blaming China and India isn’t going to do anything about your commute, your inefficient house, the amount of waste you generate. Find some place that seems just beyond manageable and start there. At first, it seems true; you can’t do anything. Until you start doing something, even a little, and wanting to do more. Nothing to gain but a little superiority and the transferable right to bitch.

via Juan Cole.

Adultery and Green Tractors

A red future or a green mist, the language of color is local.

The Duluth, Georgia-based company has an as-yet small presence in China, but Richenhagen believes the world’s No. 3 maker of tractors, combines and other farm equipment has one big advantage versus world No. 1 Deere & Co (DE.N) when it comes to cracking open that market. Around the world, Deere’s wide range of farm machines stand out for their bright green hoods.

“We have a competitive advantage compared to some of our colleagues,” Richenhagen said at the Reuters Manufacturing and Transportation Summit in Chicago. “Green is a very bad color in China.”

Specifically, green is associated with adultery — wearing a green hat is a way a man could signal that his wife had cheated on him.

“Red is the color of luck. And therefore we will go there with Massey-Ferguson,” which uses red hoods on its tractors, said Richenhagen, who comes from Germany.

Good to know. Just goes to show how much you can over-estimate and choose poorly, well or with luck. But not usually so awesome. Ly.

And speaking of business-as-usually, we turn to Russia Today (doesn’t everybody?) to see what’s going on in the Golfo de México.

Indian Initiative

I got the paper paper on Friday, for the first time in a long time. Are we going to explain to our grandkids someday how we used to peruse the newspaper for stories we weren’t even looking for? Anyway, so disposed, I came across this article on how India plans to limit its carbon emissions.

The Indian initiative, presented in Parliament by the country’s top environmental official, means that India has now joined the United States, China, Brazil, Indonesia and South Africa in making a domestic emissions pledge before the Copenhagen talks. Like China, its approach is focused on improving energy efficiency rather than accepting mandatory limits on emissions.

India is a critical player in the climate change talks, if one in a complicated position. With 1.2 billion people, it is the world’s second most populous country, having both high rates of poverty and high rates of economic growth. Its population means it has a much lower per-capita emissions rate than that of the industrialized world, yet it has high levels of total emissions. It ranks fifth globally in overall emissions and is projected to rank higher as its economy grows.

Emphasis mine. So what does this mean? Per capita, Indians emit much less CO2 than Americans, though India has higher emissions than America. Who should come into compliance with common standards? We want to limit their countrywide emissions – does that mean they should want to limit our individual emissions? Which are more difficult? How do you establish equitable standards where they won’t have to have higher emissions just to get to our [ostensibly] lowered levels?

Or do we just keep what have and they lower theirs further? Are our emissions more important that theirs? Don’t answer that.