Good show. Good coffee. (and a couple mentions of donuts, too)

A video of all the mentions of pie and coffee from a TV classic, Twin Peaks:

"They don't need the good news because they don't get the bad news." Nope.

Your kids are not Gollum in this story.

The quote in the title comes from this comment by Steve McCoy. Steve McCoy has been in the spotlight lately for a recent tweet. McCoy wrote "Tell your children they are broken. Deeply broken."

Now, I get what McCoy is trying to emphasize here. We all have a sinful nature from birth. Because it is so fundamental, he wants everyone to know this. He wants them to know it as early as possible because, in his view, anyone who doesn't properly embrace this bad news cannot properly appreciate the good news of the Gospel.  I get it. Most of my experience with Christian communities (beginning in high school) has been with people who agree with his theological point. I happen to agree with his theological point, myself.

But I am dead set against his prescription. (more below the jump break)

Make Your Choice

You don't know what you want.
Luigi know what you want.

Is there such a thing as too much choice? Some critics of the consumer-centric society think so, and have made their case strongly in TED talks, newspaper editorials, research papers. Author Matt Ridley thinks our own personal experience should dispel this notion:

Now, I don’t know about you, but last time I was offered blue-cheese, Ranch, French or thousand-island dressing for my salad, I don’t remember having a panic attack, or even needing therapy at all. I don’t generally find my heartbeat racing or my palms sweating as I contemplate the rows of different brands of toothpaste on the shelves. And I am rather relieved at having been allowed the choice of whom to marry. There are poor teenagers in Indian villages who have none of these choices: I do not envy them.

I'm glad Ridley is never overwhelmed with fast food options. But if the game is to consult our own experience, I have to make my confession: I have felt a bit paralyzed at the thought of selecting the wrong kind of hamburger before. Although I sympathize with the idea that having too many options is almost always better than too few, A part of me has to side with comedian David Mitchell on this one:

Are there instances where you would prefer to have your choices narrowed for you? Or would you always prefer more control?

A Return to Blogging

Superman Returns?

After a few years without blogging on this page, I've decided to return. My intention is to put up links to articles, blog posts, and videos I find interesting. I'll also post my own thoughts on topics of interest from time to time. I'm planning to deal less with economics-related topics; I'll be leaning more heavily on topics like education, truth claims, mechanics and mystics, comic, and other fun tags from my new label cloud. (If you really want to hear my econ commentary, head over to my more academic blog, Subliminally Unemployed.)

As the first return post, I'll offer a movie review (poster provided) complete with spoilers below the jump break. But before I do, let me open this post with a request for requests: whether you're returning to this blog with me or starting it new, what would you like me to write about? Any articles you'd like me to comment on or share? Post your requests in the comments, and welcome to Metadoxy!

The Ascent of Money by Niall Ferguson

Money allows us to move value, especially the value of our labor and perishable products, across space and time. Banking allows us to move money across space and time. Bonds and stocks go beyond banks and allow us to finance longer term investments, an essential component of economic progress and wealth creation; of course, they also allow us to gamble with both our own and other people's money. Betting on the future is risky, which is why we have insurance markets; and few bets are as important for both financial health and living standards as betting on houses. All these components come into play in the global financial history Niall Ferguson weaves together in The Ascent of Money.

The book was written as the financial panic, housing bust, and global recession of 2008 were still snowballing. Ferguson offers a historical perspective on what he considers the key markets influencing the unfolding crisis. From the clay tablets of Mesopotamia to the silver mines of Cerro Rico to the international exchange machinations of George Soros, the book walks a sweeping path through thousands of years to the first few months of that fateful year.

The style of the book is, unsurprisingly, a bit rushed, but generally enjoyable. Ferguson freely bounces between the ludicrously anecdotal and the abstractly mathematical. Consider this passage, introducing the founders of the Scottish Minsters' Widows' Fund (now the insurance & pension fund Scottish Widows):

We tend to think of Scottish clergymen as the epitome of prudence and thrift, weighed down with an anticipation of impending divine retribution for every tiny transgression. In reality, Robert Wallace was a hard drinker as well as a mathematical prodigy, who loved to knock back claret with his bibulous buddies at the Rankenian Club, which met in  what used to be Ranken's Inn. Alexander Webster's nickname was Bonum Magnum; it was said to be 'hardly in the power of liquor to affect Dr. Webster's understanding or his limbs'. Yet no one was more sober when it came to calculations of life expectancy.

With my Presbyterian background, I had to chuckle; I'm like to think that Ferguson, himself a Scot, must have done so when he wrote it.

On the whole, I was quite pleased with the book. I actually assigned it as required reading for my money and banking students before I had finished it, and am looking forward to in-class discussion on it in a few weeks. On the other hand, I also learned that there is a 6-hour BBC miniseries version, so a number of students might not read it at all. I'm still undecided if that's a bad thing or not.

I recommend the book to anyone who wants a broad historical background to understanding either the recent recession or modern finance. There are other sources with more detail and more focus, and as I mentioned earlier, the flow suffers a bit from trying to release the book in medias res. But I get the sense that this is Ferguson doing what he does best, and he's quite good at it.

Theories of International Politics and Zombies by Daniel Drezner

When I heard about this book, I was convinced it was something I needed to read, but had no idea when I'd have the time or funding to do so. Fortunately for me, my friend (and now soon-to-be military chaplain) Matt Moynihan decided to buy the book and give it to me. Thanks, Moyni! My review falls after the jump break.