A Short Animated Introduction to Karl Marx

Is Karl Marx’s cri­tique of cap­i­tal­ism still rel­e­vant to the 21st cen­tu­ry? Can we ever read him inde­pen­dent­ly of the move­ments that vio­lent­ly seized state pow­er in his name, claim­ing to rep­re­sent the work­ers through the sole will of the Par­ty? These are ques­tions Marx­ists must con­front, as must all seri­ous defend­ers of cap­i­tal­ism, who can­not afford to ignore Marx. He under­stood and artic­u­lat­ed the prob­lems of polit­i­cal econ­o­my bet­ter than any the­o­rist of his day and posed a for­mi­da­ble intel­lec­tu­al chal­lenge to the val­ues lib­er­al democ­ra­cies claim to espouse, and those they actu­al­ly prac­tice through eco­nom­ic exploita­tion, per­pet­u­al rent-seek­ing, and the alien­at­ing com­mod­i­fi­ca­tion of every­thing.

In his School of Life video explain­er above, Alain de Bot­ton sums up the received assess­ment of Com­mu­nist his­to­ry as “dis­as­trous­ly planned economies and nasty dic­ta­tor­ships.” “Nev­er­the­less,” he says, we should view Marx “as a guide, whose diag­no­sis of capitalism’s ills helps us to nav­i­gate toward a more promis­ing future”—the future of a “reformed” cap­i­tal­ism. No Marx­ist would ever make this argu­ment; de Botton’s video appeals to the skep­tic, new to Marx and not whol­ly inoc­u­lat­ed against giv­ing him a hear­ing. His ideas get boiled down to some most­ly uncon­tro­ver­sial state­ments: Mod­ern work is alien­at­ing and inse­cure. The rich get rich­er while wages fall. Such the­ses have attained the sta­tus of self-evi­dent tru­isms.

More inter­est­ing and provoca­tive is Marx’s (and Engels’) notion that cap­i­tal­ism is “bad for cap­i­tal­ists,” in that it pro­duces the repres­sive, patri­ar­chal domin­ion of the nuclear fam­i­ly, “fraught with ten­sion, oppres­sion, and resent­ment.” Addi­tion­al­ly, the impo­si­tion of eco­nom­ic con­sid­er­a­tions into every aspect of life ren­ders rela­tion­ships arti­fi­cial and forms of life sharply con­strained by the demands of the labor mar­ket. Here Marx’s eco­nom­ic cri­tique takes on its sub­tly rad­i­cal fem­i­nist dimen­sion, de Bot­ton says, by claim­ing that “men and women should have the per­ma­nent option to enjoy leisure,” not sim­ply the equal oppor­tu­ni­ty to sell their labor pow­er for equal amounts of inse­cu­ri­ty.

The video won’t sway staunch­ly anti-com­mu­nist minds, but it might make some view­ers curi­ous about what exact­ly it was Marx had to say. Those who turn to his mas­ter­work, Das Kap­i­tal, are like­ly to give up before they reach the twists and turns of the argu­ments de Bot­ton out­lines in broad strokes. The first and most famous vol­ume is hard going with­out a guide, and you’ll find few­er bet­ter than David Har­vey, Pro­fes­sor of Anthro­pol­o­gy and Geog­ra­phy at the City Uni­ver­si­ty of New York’s Grad­u­ate Cen­ter.

Harvey’s Com­pan­ion to Marx’s Cap­i­tal has guid­ed read­ers through the text for years, and his lec­tures on Marx have done so for stu­dents going on four decades. In the video above, see an intro­duc­tion to Harvey’s lec­ture series on vol­ume one of Marx’s Cap­i­tal, and at our pre­vi­ous post, find com­plete videos of his full lec­ture series on Vol­umes One, Two, and part of Vol­ume Three. Har­vey doesn’t claim that a kinder, gen­tler cap­i­tal­ism can be found in Marx. But as to the ques­tion of whether Marx is still rel­e­vant to the vast­ly accel­er­at­ed, tech­no­crat­ic cap­i­tal­ism of the present, he would unequiv­o­cal­ly answer yes.

Relat­ed Con­tent:

David Harvey’s Course on Marx’s Cap­i­tal: Vol­umes 1 & 2 Now Avail­able Free Online

6 Polit­i­cal The­o­rists Intro­duced in Ani­mat­ed “School of Life” Videos: Marx, Smith, Rawls & More

What Makes Us Human?: Chom­sky, Locke & Marx Intro­duced by New Ani­mat­ed Videos from the BBC

Josh Jones is a writer and musi­cian based in Durham, NC. Fol­low him at @jdmagness

How Isaac Newton Lost $3 Million Dollars in the “South Sea Bubble” of 1720: Even Geniuses Can’t Prevail Against the Machinations of the Markets

The Aris­totelian notion of “man” as a “ratio­nal ani­mal” has seen its share of detrac­tors, from the Cyn­ics to Bertrand Rus­sell to near­ly the whole of Post­struc­tural­ist thought. Leave it up to Oscar Wilde to com­press the debate between intel­lect and pas­sion into a pithy apho­rism: “Man is a ratio­nal ani­mal who always los­es his tem­per when he is called upon to act in accor­dance with the dic­tates of rea­son.”

We no longer need clever ver­bal barbs to refute too-opti­mistic assess­ments of human behav­ior. Eco­nom­ics is catch­ing up: we have the lan­guage of neu­ro­science and psy­chol­o­gy, which con­sis­tent­ly tells us that humans decid­ed­ly do not behave ratio­nal­ly very often, but are dri­ven by bias and biol­o­gy in inex­plic­a­ble ways. And for over a hun­dred years now, we’ve known that the clock­work New­ton­ian view of the phys­i­cal uni­verse turns out be a much messier and inde­ter­mi­nate affair, as does the uni­verse of the human mind.

Why, then, has so much eco­nom­ic the­o­ry oper­at­ed with a kind of dogged Aris­totelian­ism, insist­ing that the units of cap­i­tal­ist soci­ety, the work­ers, man­agers, investors, con­sumers, own­ers, renters, spec­u­la­tors, etc. behave in pre­dictable ways? We have case after case show­ing that intel­li­gence and crit­i­cal rea­son­ing often have lit­tle to do with suc­cess or fail­ure in the mar­ket. In such cas­es, how­ev­er, one often hears the “mad­ness of crowds” or oth­er clich­es invoked as an expla­na­tion.

To illus­trate, mar­ket reporters and busi­ness writ­ers have seized upon the sto­ry of Isaac Newton’s spec­tac­u­lar rise and fall in the so-called “South Sea Bub­ble” of 1720. We find the sto­ry in Ben­jamin Graham’s 1949 clas­sic The Intel­li­gent Investor, a wide­ly-read book that attrib­ut­es the irra­tional­i­ty of mar­ket sys­tems to an anthro­po­mor­phic enti­ty named “Mr. Mar­ket.”

Gra­ham writes,

Back in the spring of 1720, Sir Isaac New­ton owned shares in the South Sea Com­pa­ny, the hottest stock in Eng­land. Sens­ing that the mar­ket was get­ting out of hand, the great physi­cist mut­tered that he ‘could cal­cu­late the motions of the heav­en­ly bod­ies, but not the mad­ness of the peo­ple.’ New­ton dumped his South Sea shares, pock­et­ing a 100% prof­it total­ing £7,000. But just months lat­er, swept up in the wild enthu­si­asm of the mar­ket, New­ton jumped back in at a much high­er price — and lost £20,000 (or more than $3 mil­lion in [2002–2003’s] mon­ey. For the rest of his life, he for­bade any­one to speak the words ‘South Sea’ in his pres­ence.

The quo­ta­tion in bold may or may not have been uttered by New­ton, but the events Gra­ham describes did indeed hap­pen. As the Wall Street Jour­nal’s Jason Zwieg relates, Uni­ver­si­ty of Min­neso­ta pro­fes­sor Andrew Odlyzko found that “New­ton had shift­ed from a pru­dent investor with his mon­ey spread across sev­er­al secu­ri­ties to a spec­u­la­tor who had plunged essen­tial­ly all of his cap­i­tal into a sin­gle stock. The great sci­en­tist was chas­ing hot per­for­mance as des­per­ate­ly as a day trad­er in 1999 or many bit­coin buy­ers in 2017.” (Odlyzko esti­mates New­ton’s loss­es clos­er to $4 mil­lion.) Per­haps it was not a metaphor­i­cal “Mr. Mar­ket” who cost New­ton up to 77% “on his worst pur­chas­es,” nor was it wide­spread “wild enthusiasm”—the mass move­ment of pas­sion that Enlight­en­ment philoso­phers so feared.

Per­haps it was New­ton him­self who, Ele­na Holod­ny writes at Busi­ness Insid­er, “let his emo­tions get the best of him, and got swayed by the irra­tional­i­ty of the crowd.” Maybe it’s more accu­rate to say New­ton suc­cumbed to greed when the bub­ble expand­ed. “Through­out his­to­ry,” Bar­bara Kollmey­er writes at Mar­ket Watch in her inter­view with author Richard Dale, “people—especially those at the top rung of society—have been greedy and gullible par­tic­i­pants in finan­cial bub­bles. And Sir Isaac New­ton was only human, after all.” (How many at the top rung of soci­ety fell prey to Bernie Madoff’s schemes? And a cen­tu­ry before the South Sea Bub­ble, hun­dreds of wealthy investors lost their shirts in the Dutch Tulip Bulb craze.)

Some busi­ness writ­ers, like invest­ment edi­tor Richard Evans at The Tele­graph, rec­om­mend a cal­cu­la­ble for­mu­la to avoid los­ing a for­tune in bub­bles, advice that takes ratio­nal agency for grant­ed. Per­haps it should not. In addi­tion to cit­ing the con­ta­gion of crowds, near­ly every dis­cus­sion of Newton’s fol­ly allows that a fail­ure of emo­tion­al dis­ci­pline played a sig­nif­i­cant role. Ben­jamin Gra­ham invokes anoth­er Aris­totelian notion—the idea that “char­ac­ter” counts as much or more than intel­li­gence when it comes to invest­ing. “The investor’s chief prob­lem,” he writes, “and even his worst enemy—is like­ly to be him­self.”

Far few­er com­menters note that the South Sea ven­ture was itself a fail­ure of char­ac­ter from its incep­tion. The com­pa­ny had secured an exclu­sive monop­oly on trade with South Amer­i­ca; much of that trade involved sell­ing slaves. It is also the case that the com­pa­ny arti­fi­cial­ly inflat­ed its stock prices, and col­lud­ed with sev­er­al MPs in insid­er trad­ing schemes. The so-called “Bub­ble Act” of Par­lia­ment in 1720, pre­sum­ably passed to pre­vent crash­es like the one that dev­as­tat­ed New­ton, turned out to be cor­po­rate give­away. The terms of the act had been dic­tat­ed by the South Sea Com­pa­ny in order to pre­vent oth­er com­pa­nies from poach­ing their investors. Although these cir­cum­stances are well-known to eco­nom­ic his­to­ri­ans, they rarely make their way into com­men­tary on Newton’s great loss.

Econ­o­mists instead tend to blame abstrac­tions for eco­nom­ic events like the South Sea Bub­ble, or they blame the over­reach­ing prof­it-seek­ing of investors, and maybe for good rea­son. The oth­er expla­na­tions haunt the mar­gins: the inher­ent­ly exploita­tive nature of most forms of cor­po­rate cap­i­tal­ism, and the cor­rup­tion and col­lu­sion between the state and pri­vate enter­prise that inhibits fair com­pe­ti­tion and makes it impos­si­ble for investors to eval­u­ate the sit­u­a­tion trans­par­ent­ly. For all of his sci­en­tif­ic and math­e­mat­i­cal genius, Isaac New­ton was no exception—he was just as sub­ject to irra­tional greed as the next investor, and to the preda­to­ry machi­na­tions of “mar­ket forces.”

Relat­ed Con­tent:

In 1704, Isaac New­ton Pre­dicts the World Will End in 2060

Isaac New­ton Cre­ates a List of His 57 Sins (Cir­ca 1662)

Sir Isaac Newton’s Papers & Anno­tat­ed Prin­cip­ia Go Dig­i­tal

Josh Jones is a writer and musi­cian based in Durham, NC. Fol­low him at @jdmagness

What Actually Is Bitcoin?: Princeton’s Free Online Course “Bitcoin and Currency Technologies” Provides Much-Needed Answers

“Don’t Under­stand Bit­coin?” asked the head­line of a recent video from Click­hole, the Onion’s viral-media par­o­dy site. “This Man Will Mum­ble an Expla­na­tion at You.” The inex­plic­a­ble hilar­i­ty of the mum­bling man and his 72-sec­ond expla­na­tion of Bit­coin con­tains, like all good humor, a sol­id truth: most of us don’t under­stand Bit­coin, and the sim­plis­tic infor­ma­tion we seek out, for all we grasp of it, might as well be deliv­ered unin­tel­li­gi­bly. A few years ago we fea­tured a much clear­er three-minute expla­na­tion of that best-known form of cryp­tocur­ren­cy here on Open Cul­ture, but how to gain a deep­er under­stand­ing of this tech­nol­o­gy that, in one form or anoth­er, so many of us will even­tu­al­ly use?

Con­sid­er join­ing “Bit­coin and Cur­ren­cy Tech­nolo­gies,” a free course from Cours­era taught by sev­er­al pro­fes­sors from Prince­ton Uni­ver­si­ty, includ­ing com­put­er sci­en­tist Arvind Narayanan, whose Prince­ton Bit­coin Text­book we fea­tured last year.

The eleven-week online course (class­room ver­sions of whose lec­tures you can check out here) just began, but you can still eas­i­ly join and learn the answers to ques­tions like the fol­low­ing: “How does Bit­coin work? What makes Bit­coin dif­fer­ent? How secure are your Bit­coins? How anony­mous are Bit­coin users? What deter­mines the price of Bit­coins? Can cryp­tocur­ren­cies be reg­u­lat­ed? What might the future hold?” All of those, you’ll notice, have been raised more and more often in the media late­ly, but sel­dom sat­is­fac­to­ri­ly addressed.

“Real under­stand­ing of the eco­nom­ic issues under­ly­ing the cryp­tocur­ren­cy is almost nonex­is­tent,” writes Nobel-win­ning econ­o­mist Robert J. Shiller in a recent New York Times piece on Bit­coin. “It is not just that very few peo­ple real­ly com­pre­hend the tech­nol­o­gy behind Bit­coin. It is that no one can attach objec­tive prob­a­bil­i­ties to the var­i­ous pos­si­ble out­comes of the cur­rent Bit­coin enthu­si­asm.” Take Prince­ton’s course, then, and you’ll pull way ahead of many oth­ers inter­est­ed in Bit­coin, even allow­ing for all the still-unknow­able unknowns that have caused such thrilling and shock­ing fluc­tu­a­tions in the dig­i­tal cur­ren­cy’s eight years of exis­tence so far. All of it has cul­mi­nat­ed in the cur­rent craze Shiller calls “a mar­velous case study in ambi­gu­i­ty and ani­mal spir­its,” and where ambi­gu­i­ty and ani­mal spir­its rule, a lit­tle intel­lec­tu­al under­stand­ing cer­tain­ly nev­er hurts.

Enroll free in “Bit­coin and Cur­ren­cy Tech­nolo­gies” here. Find oth­er relat­ed cours­es on cyrp­tocur­ren­cy and blockchain here.

Relat­ed Con­tent:

Bit­coin, the New Decen­tral­ized Dig­i­tal Cur­ren­cy, Demys­ti­fied in a Three Minute Video

The Prince­ton Bit­coin Text­book Is Now Free Online

Cryp­tocur­ren­cy and Blockchain: An Intro­duc­tion to Dig­i­tal Currencies–A Free Online Cours­es from the Uni­ver­si­ty of Penn­syl­va­nia

Free Online Economics/Finance Cours­es

1,700 Free Online Cours­es from Top Uni­ver­si­ties

Based in Seoul, Col­in Mar­shall writes and broad­casts on cities and cul­ture. His projects include the book The State­less City: a Walk through 21st-Cen­tu­ry Los Ange­les and the video series The City in Cin­e­ma. Fol­low him on Twit­ter at @colinmarshall or on Face­book.

Will You Really Achieve Happiness If You Finally Win the Rat Race? Don’t Answer the Question Until You’ve Watched Steve Cutts’ New Animation

Illus­tra­tor Steve Cutts sets his lat­est ani­ma­tion, “Hap­pi­ness,” in a teem­ing urban envi­ron­ment, with hun­dreds of near iden­ti­cal car­toon rats stand­ing in for human drudges in an unful­fill­ing, and not unfa­mil­iar race.

Packed sub­way cars, a bom­bard­ment of adver­tis­ing, soul-dead­en­ing office jobs, and Black Fri­day sales are just a few of the indig­ni­ties Cutts’ rodents are sub­ject­ed to, to the tune of Bizet’s “L’amour est un oiseau rebelle.”

Ram­pant over-consumption—a major pre­oc­cu­pa­tion for this artist—offers illu­so­ry relief, and a great deal of fun for view­ers with the time to hit pause, to bet­ter savor the grim details.

The max­i­mal­ist frames read like a grat­i­fy­ing per­ver­sion of Richard Scarry’s relent­less­ly sun­ny Busy­town. As with Cutts’ 80s-throw­back Simpson’s couch gag: pop-cul­ture ref­er­ences and visu­al input whip by at sub­lim­i­nal warp speed. 

They may also serve as an anti­dote to the sort of mes­sag­ing we’re con­stant­ly on the receiv­ing end of, whether we live in city, coun­try or some­where in-between. Check out the scene as Cutts pans up from the sub­way plat­form, 52 sec­onds in:

The panty-clad female mod­el for Blah cologne’s fash­ion­ably black and white ad is ema­ci­at­ed near­ly to the point of death.

“You’re bet­ter than laces” flat­ters the lat­est (lace­less) shoe from a swoosh-bedecked footwear man­u­fac­tur­er, while a radi­a­tor-col­ored bev­er­age floats above the mot­to “Just drink it, morons.”

Krispo Flakes fight depres­sion with “the bits oth­er cere­als don’t want.”

Heav­en help us all, there’s even a poster for TRUMP The Musi­cal.

This freeze-frame scruti­ny could make an excel­lent activ­i­ty for any class where mid­dle and high school­ers are encour­aged to think crit­i­cal­ly about their role as con­sumers.

As Cutts, a one-time employ­ee of the dig­i­tal mar­ket­ing agency, Iso­bar, who con­tributed to cam­paigns for such glob­al giants as Coca-Cola, Google, Reebok, and Toy­ota, told Reverb Press in 2015:

These are things that affect us all on a fun­da­men­tal lev­el so nat­u­ral­ly they’re a main focus for a lot of my work. Human­i­ty has the pow­er to be great in so many ways and yet at the same time we are fun­da­men­tal­ly flawed. I think it’s the con­flict between these two that fas­ci­nates me the most. As a race of beings we’ve made incred­i­ble achieve­ments in such a short space, but at the same time we seem so over­whelm­ing­ly intent on destroy­ing our­selves and every­thing around us. It would be very inter­est­ing to see where we’ll be in a hun­dred years. The term insan­i­ty is intrigu­ing – it’s almost like we’re encour­aged to act in a way that seems gen­uine­ly insane when you look at it objec­tive­ly, but it’s often accept­ed as nor­mal right now. I think we will have to evolve beyond our cur­rent think­ing and way of doing things if we want to sur­vive.

See more of Cutts’ ani­mat­ed work here. And while he doesn’t go out of his way to hype his online store, a gallery qual­i­ty print of The Rat Trap would make a fan­tas­tic gift from your cubi­cle mate’s Secret San­ta. (HURRY! TIME IS RUNNING OUT!!!)

Relat­ed Con­tent:

The Employ­ment: A Prize-Win­ning Ani­ma­tion About Why We’re So Dis­en­chant­ed with Work Today

Bertrand Rus­sell & Buck­min­ster Fuller on Why We Should Work Less, and Live & Learn More

Charles Bukows­ki Rails Against 9‑to‑5 Jobs in a Bru­tal­ly Hon­est Let­ter (1986)

Ayun Hal­l­i­day is an author, illus­tra­tor, the­ater mak­er and Chief Pri­ma­tol­o­gist of the East Vil­lage Inky zine.  Fol­low her @AyunHalliday.

Christopher Hitchens Dismisses the Cult of Ayn Rand: There’s No “Need to Have Essays Advocating Selfishness Among Human Beings; It Requires No Reinforcement”

Charges of hypocrisy, con­tra­dic­tion, “flip-flop­ping,” etc. in pol­i­tics are so much mud thrown at the cas­tle walls. Unless the peas­ants gath­er in large enough num­bers to storm the palace and depose their lords, their right­eous­ness avails them noth­ing. What does it mat­ter to the cur­rent par­ty in pow­er, for example—who wears the nation­al flag like a cape and has decid­ed the civ­il reli­gion and its Evan­gel­i­cal vari­ety are one in the same—that its most-admired role mod­el and (alleged) fix­er is a cor­rupt Russ­ian auto­crat who mur­ders jour­nal­ists (or a Con­fed­er­ate gen­er­al who led the armies of a trea­so­nous slave state)?

So it is, on and on, with the polit­i­cal class.

Take Alan Greenspan, chair­man of the Fed­er­al Reserve from 1987 to 2006. Dur­ing these years, he was wide­ly hailed as a major pow­er behind the throne, no mat­ter the poli­cies of those who occu­pied it. He was “oblig­ed to report,” Christo­pher Hitchens wrote in Van­i­ty Fair in 2000, “to Con­gress only twice a year, at for­mal occa­sions where he is received with the def­er­ence that was once accord­ed the Emper­or of Japan.” I well remem­ber the dowdy fris­son accom­pa­ny­ing those appear­ances in the 90s, the Bill Clin­ton bub­ble years. Hitchens only slight­ly exag­ger­ates. But some­how, Greenspan retained this guru-like aura despite the fact that his posi­tion vio­lat­ed his sin­cere­ly-held beliefs as a mem­ber, he him­self told Hitchens, of Ayn Rand’s “inner cir­cle”

As Hitchens notes in the grainy video clip above, “a state Fed­er­al Reserve Bank is not part of the Lib­er­tar­i­an pro­gram, though Mr. Greenspan seems a bit iffy about this self-evi­dent propo­si­tion.” In addi­tion to cham­pi­oning athe­ism and abor­tion rights, Rand, Greenspan’s “intel­lec­tu­al guru,” defined the rigid ide­o­log­i­cal dis­dain for gov­ern­ment med­dling in mar­kets and social spend­ing of any kind. Yet she end­ed her days on the gov­ern­ment dime. But there are no con­tra­dic­tions for pur­vey­ors of theod­i­cies. Ran­di­ans, or “Objec­tivists,” if they pre­fer, must know that to every­one out­side the cir­cle, the phi­los­o­phy looks like eth­i­cal­ly-bank­rupt cult log­ic, wish­ful think­ing eas­i­ly dis­card­ed when incon­ve­nient. Still, adepts will write to tell us that if we only grasped the gnos­tic rea­son­ing of such-and-such argu­ment, then we too could pierce the veil.

Hitchens dis­pens­es with this pre­tense, not as an anar­cho-com­mu­nist rad­i­cal but as a some­time neo­con­ser­v­a­tive hawk and some­time admir­er of Rand (or at least a knowl­edge­able read­er of her work). “I have some respect for the ‘Virtue of Self­ish­ness,’” he goes on to say in his aside on Rand above—which occurred dur­ing a lec­ture called “The Moral Neces­si­ty of Athe­ism” at Sewa­nee Uni­ver­si­ty in 2004. (In his Van­i­ty Fair essay, Hitchens pro­nounced him­self a “Rand buff.”) And yet, the title of Rand’s col­lec­tion of essays pro­vides him with the rhetor­i­cal essence of his cri­tique, one drawn from a dif­fer­ent strain of virtue—of a reli­gious vari­ety, even. After dis­miss­ing Rand on lit­er­ary grounds, he says:

I don’t think there’s any need to have essays advo­cat­ing self­ish­ness among human beings; I don’t know what your impres­sion has been, but some things require no fur­ther rein­force­ment.

The urbane Hitchens goes on to tell an off-col­or anec­dote about Lil­lian Hell­man with a moral­is­tic under­tone, gets a laugh, and piv­ots to a much old­er the­o­log­i­cal con­flict to bring his point home.

So to have a book stren­u­ous­ly rec­om­mend­ing that peo­ple be more self-cen­tered seems to me, as the Angli­can Church used to say in its cri­tique of Catholi­cism, a work of super-arro­ga­tion. It’s too stren­u­ous.

It’s try­ing too hard, that is, to con­vince us, and itself, per­haps, that its super­sti­tions, self-defens­es, and desires are nat­ur­al law. Rand’s belief sys­tem has so lit­tle intel­lec­tu­al cur­ren­cy among thinkers on the left that few peo­ple spend any time both­er­ing to refute it. But Hitchens did the polit­i­cal cen­ter a ser­vice when he took on defend­ers of Ran­di­an­ism in the media, such as he does in the debate below with David Frum, the now infa­mous neo­con­ser­v­a­tive Cana­di­an speech­writer for George W. Bush. Those who think the health­care debate began with the elec­tion of Barack Oba­ma may be sur­prised to see it con­duct­ed in almost the very same terms in 1996.

Frum defends a ver­sion of the lib­er­tar­i­an view, Hitchens a social demo­c­ra­t­ic per­spec­tive. When Rand’s name inevitably comes up near the end of the dis­cus­sion (4:40), Hitchens artic­u­lates the same views: “I always thought it quaint, and rather touch­ing,” he says with dry irony, “that there is in Amer­i­ca a move­ment that thinks peo­ple are not yet self­ish enough…. It’s some­what refresh­ing to meet peo­ple who man­age to get through their day actu­al­ly believ­ing that.” Like many oth­ers, Hitchens embod­ied a num­ber of con­tra­dic­tions. Among them, per­haps, was his staunch, almost Catholic belief—despite his stren­u­ous objec­tion to religion—that self­ish­ness… too much self­ish­ness, a val­oriza­tion of self­ish­ness, a cult of self­ish­ness… is self-evi­dent­ly a rather sin­ful thing.

Relat­ed Con­tent:

When Ayn Rand Col­lect­ed Social Secu­ri­ty & Medicare, After Years of Oppos­ing Ben­e­fit Pro­grams

Christo­pher Hitchens Cre­ates a Revised List of The 10 Com­mand­ments for the 21st Cen­tu­ry

Flan­nery O’Connor: Friends Don’t Let Friends Read Ayn Rand (1960)

Josh Jones is a writer and musi­cian based in Durham, NC. Fol­low him at @jdmagness

An Animated Introduction to Economist John Maynard Keynes

If you know any­thing about mod­ern eco­nom­ic the­o­ry, you’ve learned the names Mil­ton Fried­man and John May­nard Keynes—gen­er­al­ly pit­ted against each oth­er as rep­re­sent­ing the divide down the cen­ter in West­ern polit­i­cal econ­o­my. While more rad­i­cal thinkers like F.A. Hayek and, of course, Marx and Engels, hold sway over a sig­nif­i­cant part of the pop­u­la­tion, when it comes to the entrenched two-par­ty sys­tem in the U.S. and so-called mod­er­ate Demo­c­ra­t­ic and Repub­li­can politi­cians, we can hand­i­ly refer to Fried­man and Keynes, respec­tive­ly, as advo­cat­ing on the one hand very lit­tle gov­ern­ment inter­ven­tion into free mar­ket affairs and, on the oth­er, a sig­nif­i­cant, very vis­i­ble, guid­ing hand.

Keynes “believed that gov­ern­ments have it in their pow­er,” says Alain de Bot­ton in his School of Life ani­mat­ed intro­duc­tion above, “to solve some of the great­est ills of cap­i­tal­ism.” Reject­ing both com­mu­nism and “the utter wis­dom of the unfet­tered free mar­ket,” Keynes sought to chart a mid­dle way, the­o­riz­ing cap­i­tal­ist economies planned through “judi­cious injec­tions” of mon­ey and “wise reg­u­la­tions” to “smooth out the peaks and troughs to which all economies seem fate­ful­ly prone.” Keynes him­self was not prone to many finan­cial ups and downs. Born in 1883 in Cam­bridge to a “well-to-do aca­d­e­m­ic fam­i­ly,” writes the BBC, his “father was an econ­o­mist and a philoso­pher” and his moth­er “became the town’s first female may­or.” He “amassed a con­sid­er­able per­son­al for­tune from the finan­cial mar­kets” between the wars and became a “board mem­ber of a num­ber of com­pa­nies.”

At the height of the eco­nom­ic cri­sis in 1930, Keynes pub­lished an essay titled “Eco­nom­ic Pos­si­bil­i­ties for Our Grand­chil­dren,” in which he “out­lined his belief that most eco­nom­ic prob­lems could be over­come, and give way to an age where the chief chal­lenge for human beings would be how to occu­py their leisure time in con­di­tions of mass pros­per­i­ty.” His utopi­an out­look may have been part­ly con­di­tioned by his posi­tion as “part of the British estab­lish­ment.” But Keynes was a nuanced, cre­ative thinker, a mem­ber of the Blooms­bury group—Vir­ginia Woolf was one of his clos­est friends—who “rec­og­nized that good eco­nom­ics was as fun­da­men­tal to well-being as good paint­ing or lit­er­a­ture, and in a deep sense not fun­da­men­tal­ly dif­fer­ent in its search for the well­springs of ful­fill­ment, and its atten­tion to human error and blind­ness.”

Like Woolf, Keynes tend­ed to view human well-being through a nar­row class prism, with some of the ugly prej­u­dices such a view entails. Yet his the­o­ry began by con­sid­er­ing the needs of huge num­bers of unem­ployed in Britain and the U.S. who should not have to live in pre­car­i­ty and pover­ty, he rea­soned, until the mar­ket got around to cor­rect­ing itself, if it hap­pened to do so in their life­times. The inter­ven­tion­ist the­o­ries Keynes elab­o­rat­ed in his Gen­er­al The­o­ry of Employ­ment, Inter­est and Mon­ey, his great work of 1936, led to his cre­ation in 1944 of the IMF and the World Bank, two of the most con­tro­ver­sial glob­al insti­tu­tions of the past half-cen­tu­ry for what many see as their dis­as­trous, coer­cive med­dling in the eco­nom­ic affairs of poor­er nations.

While deficit spend­ing may be a de fac­to prac­tice of every gov­ern­ment admin­is­tra­tion, it is the the­o­ry of John May­nard Keynes that most attach­es it philo­soph­i­cal­ly to the cen­ter-left. And while it may be that more Key­ne­sian stim­u­lus spend­ing, with gov­ern­ment as the “pri­ma­ry shop­per in the land,” as Peter Coy argued in 2014, is just what a sag­ging, stag­nant world econ­o­my needs, the per­pet­u­al chal­lenge, as de Bot­ton points out, is the ques­tion of just “who should pay for the loans” gov­ern­ments issue, or the ser­vices it funds to buoy the cit­i­zen­ry. Few peo­ple, no mat­ter how wealthy, seem to want to shoul­der the bur­den, how­ev­er light it may be for some, even if Keynes’ “mul­ti­pli­er effect” can be shown to raise all boats once it takes hold.

Relat­ed Con­tent:

Every­day Eco­nom­ics: A New Course by Mar­gin­al Rev­o­lu­tion Uni­ver­si­ty Where Stu­dents Cre­ate the Syl­labus

A Short Course in Behav­ioral Eco­nom­ics

Free Online Eco­nom­ics Cours­es 

Josh Jones is a writer and musi­cian based in Durham, NC. Fol­low him at @jdmagness

Albert Einstein Writes the 1949 Essay “Why Socialism?” and Attempts to Find a Solution to the “Grave Evils of Capitalism”

Image by Fer­di­nand Schmutzer, via Wiki­me­dia Com­mons

Albert Ein­stein was a com­pli­cat­ed human being, with a wide range of inter­ests. His per­son­al­i­ty seemed bal­anced between a cer­tain chill­i­ness when it came to per­son­al mat­ters, and a great deal of warmth and com­pas­sion when it came to the wider human fam­i­ly. The physi­cist struck up friend­ships with famed Amer­i­can activists Paul Robe­son, Mar­i­an Ander­son, and W.E.B. Du Bois, and he cham­pi­oned the cause of Civ­il Rights in the U.S. He pro­fessed a deep admi­ra­tion for Gand­hi, and praised him sev­er­al times in let­ters and speech­es. And in 1955, just days before his death, Ein­stein col­lab­o­rat­ed with anoth­er out­spo­ken pub­lic intel­lec­tu­al, Bertrand Rus­sell, on a peace man­i­festo, which was signed by six oth­er sci­en­tists.

Ein­stein saw a pub­lic role for sci­en­tists in mat­ters social, polit­i­cal, and even eco­nom­ic. In 1949, he pub­lished an arti­cle in the Month­ly Review titled “Why Social­ism?” Antic­i­pat­ing his crit­ics, he begins by ask­ing “is it advis­able for one who is not an expert on eco­nom­ic and social issues to express views on the sub­ject of social­ism?” To which he replies, “I believe for a num­ber of rea­sons that it is.”

Ein­stein goes on, sound­ing some­thing like a com­bi­na­tion of Karl Marx and E.O. Wil­son, to elab­o­rate the the­o­ret­i­cal basis for social­ism as he sees it, first describ­ing what Marx called “prim­i­tive accu­mu­la­tion” and what the social­ist econ­o­mist Thorstein Veblen called “’the preda­to­ry phase’ of human devel­op­ment.”

…most of the major states of his­to­ry owed their exis­tence to con­quest. The con­quer­ing peo­ples estab­lished them­selves, legal­ly and eco­nom­i­cal­ly, as the priv­i­leged class of the con­quered coun­try. They seized for them­selves a monop­oly of the land own­er­ship and appoint­ed a priest­hood from among their own ranks. The priests, in con­trol of edu­ca­tion, made the class divi­sion of soci­ety into a per­ma­nent insti­tu­tion and cre­at­ed a sys­tem of val­ues by which the peo­ple were thence­forth, to a large extent uncon­scious­ly, guid­ed in their social behav­ior.

The sci­ence of eco­nom­ics, as it stands, writes Ein­stein, still belongs “to that phase.” Such “laws as we can derive” from “the observ­able eco­nom­ic facts… are not applic­a­ble to oth­er phas­es.” These facts sim­ply describe the preda­to­ry state of affairs, and Ein­stein implies that not even econ­o­mists have suf­fi­cient meth­ods to defin­i­tive­ly answer the ques­tion “why socialism?”—“economic sci­ence in its present state can throw lit­tle light on the social­ist soci­ety of the future.” We should not assume, then, he goes on, “that experts are the only ones who have a right to express them­selves on ques­tions affect­ing the orga­ni­za­tion of soci­ety.” Ein­stein him­self doesn’t pre­tend to have all the answers. He ends his essay, in fact, with a few ques­tions address­ing “some extreme­ly dif­fi­cult socio-polit­i­cal prob­lems,” of the kind that attend every debate about social­ism:

…how is it pos­si­ble, in view of the far-reach­ing cen­tral­iza­tion of polit­i­cal and eco­nom­ic pow­er, to pre­vent bureau­cra­cy from becom­ing all-pow­er­ful and over­ween­ing? How can the rights of the indi­vid­ual be pro­tect­ed and there­with a demo­c­ra­t­ic coun­ter­weight to the pow­er of bureau­cra­cy be assured?

Nev­er­the­less, Ein­stein is “con­vinced” that the only way to elim­i­nate the “grave evils” of cap­i­tal­ism is “through the estab­lish­ment of a social­ist econ­o­my, accom­pa­nied by an edu­ca­tion­al sys­tem which would be ori­ent­ed toward social goals.” For Ein­stein, the “worst evil” of preda­to­ry cap­i­tal­ism is the “crip­pling of indi­vid­u­als” through an edu­ca­tion­al sys­tem that empha­sizes an “exag­ger­at­ed com­pet­i­tive atti­tude” and trains stu­dents “to wor­ship acquis­i­tive suc­cess.” But the prob­lems extend far beyond the indi­vid­ual and into the very nature of the polit­i­cal order.

Pri­vate cap­i­tal tends to become con­cen­trat­ed in few hands… The result of these devel­op­ments is an oli­garchy of pri­vate cap­i­tal the enor­mous pow­er of which can­not be effec­tive­ly checked even by a demo­c­ra­t­i­cal­ly orga­nized polit­i­cal soci­ety. This is true since the mem­bers of leg­isla­tive bod­ies are select­ed by polit­i­cal par­ties, large­ly financed or oth­er­wise influ­enced by pri­vate cap­i­tal­ists who, for all prac­ti­cal pur­pos­es, sep­a­rate the elec­torate from the leg­is­la­ture. The con­se­quence is that the rep­re­sen­ta­tives of the peo­ple do not in fact suf­fi­cient­ly pro­tect the inter­ests of the under­priv­i­leged sec­tions of the pop­u­la­tion. More­over, under exist­ing con­di­tions, pri­vate cap­i­tal­ists inevitably con­trol, direct­ly or indi­rect­ly, the main sources of infor­ma­tion (press, radio, edu­ca­tion). It is thus extreme­ly dif­fi­cult, and indeed in most cas­es quite impos­si­ble, for the indi­vid­ual cit­i­zen to come to objec­tive con­clu­sions and to make intel­li­gent use of his polit­i­cal rights.

The polit­i­cal econ­o­my Ein­stein describes is one often lam­bast­ed by right lib­er­tar­i­ans as an impure vari­ety of crony cap­i­tal­ism, one not wor­thy of the name, but the physi­cist is skep­ti­cal of the claim, writ­ing “there is no such thing as a pure cap­i­tal­ist soci­ety.” Pri­vate own­ers always secure their priv­i­leges through the manip­u­la­tion of the polit­i­cal and edu­ca­tion­al sys­tems and the mass media.

The preda­to­ry sit­u­a­tion Ein­stein observes is one of extreme alien­ation among all class­es; “All human beings, what­ev­er their posi­tion in soci­ety, are suf­fer­ing from this process of dete­ri­o­ra­tion. Unknow­ing­ly pris­on­ers of their own ego­tism, they feel inse­cure, lone­ly, and deprived of the naïve, sim­ple, and unso­phis­ti­cat­ed enjoy­ment of life. Man can find mean­ing in life, short and per­ilous as it is, only through devot­ing him­self to soci­ety.” Ein­stein believed that devo­tion should take the form of a social­ist econ­o­my that pro­motes both the phys­i­cal well­be­ing and the polit­i­cal rights of every­one. But he did not pre­sume to know exact­ly what such an eco­nom­ic future would look like, nor how it might come into being. Read his full essay, “Why Social­ism?” here.

Relat­ed Con­tent:

Albert Ein­stein Explains How Slav­ery Has Crip­pled Everyone’s Abil­i­ty (Even Aristotle’s) to Think Clear­ly About Racism

Albert Ein­stein Express­es His Admi­ra­tion for Mahat­ma Gand­hi, in Let­ter and Audio

Albert Ein­stein Impos­es on His First Wife a Cru­el List of Mar­i­tal Demands

Josh Jones is a writer and musi­cian based in Durham, NC. Fol­low him at @jdmagness

Experts Predict When Artificial Intelligence Will Take Our Jobs: From Writing Essays, Books & Songs, to Performing Surgery and Driving Trucks

Image via Flickr Com­mons

We know they’re com­ing. The robots. To take our jobs. While humans turn on each oth­er, find scape­goats, try to bring back the past, and ignore the future, machine intel­li­gences replace us as quick­ly as their design­ers get them out of beta test­ing. We can’t exact­ly blame the robots. They don’t have any say in the mat­ter. Not yet, any­way. But it’s a fait accom­pli say the experts. “The promise,” writes MIT Tech­nol­o­gy Review, “is that intel­li­gent machines will be able to do every task bet­ter and more cheap­ly than humans. Right­ly or wrong­ly, one indus­try after anoth­er is falling under its spell, even though few have ben­e­fit­ed sig­nif­i­cant­ly so far.”

The ques­tion, then, is not if, but “when will arti­fi­cial intel­li­gence exceed human per­for­mance?” And some answers come from a paper called, appro­pri­ate­ly, “When Will AI Exceed Human Per­for­mance? Evi­dence from AI Experts.” In this study, Kat­ja Grace of the Future of Human­i­ty Insti­tute at the Uni­ver­si­ty of Oxford and sev­er­al of her col­leagues “sur­veyed the world’s lead­ing researchers in arti­fi­cial intel­li­gence by ask­ing them when they think intel­li­gent machines will bet­ter humans in a wide range of tasks.”

You can see many of the answers plot­ted on the chart above. Grace and her co-authors asked 1,634 experts, and found that they “believe there is a 50% chance of AI out­per­form­ing humans in all tasks in 45 years and of automat­ing all human jobs in 120 years.” That means all jobs: not only dri­ving trucks, deliv­er­ing by drone, run­ning cash reg­is­ters, gas sta­tions, phone sup­port, weath­er fore­casts, invest­ment bank­ing, etc, but also per­form­ing surgery, which may hap­pen in less than 40 years, and writ­ing New York Times best­sellers, which may hap­pen by 2049.

That’s right, AI may per­form our cul­tur­al and intel­lec­tu­al labor, mak­ing art and films, writ­ing books and essays, and cre­at­ing music. Or so the experts say. Already a Japan­ese AI pro­gram has writ­ten a short nov­el, and almost won a lit­er­ary prize for it. And the first mile­stone on the chart has already been reached; last year, Google’s AI Alpha­Go beat Lee Sedol, the South Kore­an grand­mas­ter of Go, the ancient Chi­nese game “that’s expo­nen­tial­ly more com­plex than chess,” as Cade Metz writes at Wired. (Humane video game design, on the oth­er hand, may have a ways to go yet.)

Per­haps these feats part­ly explain why, as Grace and the oth­er researchers found, Asian respon­dents expect­ed the rise of the machines “much soon­er than North Amer­i­ca.” Oth­er cul­tur­al rea­sons sure­ly abound—likely those same quirks that make Amer­i­cans embrace cre­ation­ism, cli­mate-denial, and fear­ful con­spir­a­cy the­o­ries and nos­tal­gia by the tens of mil­lions. The future may be fright­en­ing, but we should have seen this com­ing. Sci-fi vision­ar­ies have warned us for decades to pre­pare for our tech­nol­o­gy to over­take us.

In the 1960s Alan Watts fore­saw the future of automa­tion and the almost patho­log­i­cal fix­a­tion we would devel­op for “job cre­ation” as more and more nec­es­sary tasks fell to the robots and human labor became increas­ing­ly super­flu­ous. (Hear him make his pre­dic­tion above.) Like many a tech­nol­o­gist and futur­ist today, Watts advo­cat­ed for Uni­ver­sal Basic Income, a way of ensur­ing that all of us have the means to sur­vive while we use our new­ly acquired free time to con­scious­ly shape the world the machines have learned to main­tain for us.

What may have seemed like a Utopi­an idea then (though it almost became pol­i­cy under Nixon), may become a neces­si­ty as AI changes the world, writes MIT, “at break­neck speed.”

via Big Think/MIT Tech­nol­o­gy Review

Relat­ed Con­tent:

Hear Alan Watts’s 1960s Pre­dic­tion That Automa­tion Will Neces­si­tate a Uni­ver­sal Basic Income

Bertrand Rus­sell & Buck­min­ster Fuller on Why We Should Work Less, and Live & Learn More

Arti­fi­cial Intel­li­gence Pro­gram Tries to Write a Bea­t­les Song: Lis­ten to “Daddy’s Car”

Hayao Miyaza­ki Tells Video Game Mak­ers What He Thinks of Their Char­ac­ters Made with Arti­fi­cial Intel­li­gence: “I’m Utter­ly Dis­gust­ed. This Is an Insult to Life Itself”

Arti­fi­cial Intel­li­gence: A Free Online Course from MIT

Josh Jones is a writer and musi­cian based in Durham, NC. Fol­low him at @jdmagness

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