In his 1905 book, The Protestant Ethic and the Spirit of Capitalism, German economist and sociologist Max Weber theorized that capitalism’s ascendancy owed much to Protestantism’s emphasis on hard work and worldly success. Whether or not Weber was actually right, the term he coined, “Protestant ethic,” has, to many, become accepted as part of our shared American definition.
Irrepressibly True Tales
One man's squint at the metaphorical signposts, songbirds, soapboxes, street musicians, and hot dog stands of life. Criticism, lyricism, polemics, performance, and making change…all with mustard.
A Boy, a Swimming Pool, and the Laws of Universe
My brother Doug writes about his afternoon with my four-year-old grandson:
When Ethan and I walked outside, we had no specific plans. We knew only that the sun was shining, the spring birds were singing. It was warm and we were going to explore the backyard. There were so many possibilities. But once he saw the hose happily gurgling water into the pool, I knew immediately what the next 15 minutes would hold. Continue reading “A Boy, a Swimming Pool, and the Laws of Universe”
How to Bet on the NCAA Final Four
You pays your money and you takes your chances, but the House always has an edge.
Did you ever wonder how big that edge is?
Among the simplest edges to compute is Las Vegas roulette. If your chips are on one of the numbers from 1 to 36, and you win, you get paid 35-1. That means that if you put $1 on each of those 36 numbers, when the ball drops onto one of those numbers, you’ll get your winning bet back plus $35; you’ll break even. Those are fair odds. But the House, as I said, always has an edge. Las Vegas wheels include two other numbers that also pay 35-1: 0 and 00. So to be sure you’ll win, you’d have to place 38 one-dollar bets, thus giving the House a $2 profit on every $38 you bet (a 5.26% margin).
Coming up this week are the NCAA basketball Final Four games, Continue reading “How to Bet on the NCAA Final Four”
Irving R. Levine (1922-2009)
America fawns absurdly over singers and actors and expects under-educated athletes to be our role models. National and international news in my local newspaper, the Santa Rosa, CA, Press Democrat (owned by The New York Times), almost always comprises fewer column inches than the sports section.
The Stupidification of America continues unabated.
Irving R. Levine died Friday, an intelligent journalist whose thoughtful, clearly articulated reports educated and explained difficult political and economic topics for almost 50 years. But the obituary I read focused on Levine’s bow tie and middle initial rather than on the caliber of his reportage. America craves infotainment.
Written by the Washington Post‘s Patricia Sullivan, it reads like something out of Obits for Dummies. Almost half of Ms. Sullivan’s 666-word review of Levine’s worthy life dwells on the minutiae that made him a character rather than the work that made him a respected journalist. Some excerpts: Continue reading “Irving R. Levine (1922-2009)”
Little Songs on Big Subjects
When we were very little, my brother and I had a record entitled Little Songs on Big Subjects. Sung by The Jesters, one of the first groups to record commercial jingles, the tunes, written by Hy Zaret and Lou Singer, emphasized tolerance. Zaret, who died in 2007 just a month shy of 100, told me in 2002 that he thought of the songs as short, catchy jingles.
We played the LP until the grooves wore out.
Little Songs on Big Subjects was a big hit. In 1949, The New Yorker, in a Talk of the Town Continue reading “Little Songs on Big Subjects”
Too Big to Fail? Or Too Big to Exist?
AIG is saved once, and then resuscitated again, because it is judged “too big to fail.” Billions are pumped into General Motors because it also is “too big to fail.”
I say step back and look at what “too big to fail” should have suggested long before the current financial cliff edge was reached: If it is too big to fail, it is too big to exist.
Capitalism rewards successful innovation and efficiency; saving what has rotted is antithetical. I realize, of course, that by the time AIG was infused, Continue reading “Too Big to Fail? Or Too Big to Exist?”