Just a heads up: We’re going to be doing some fun things with the blog, and with my web site (dreamcafe.com), so the look will be changing. One thing we plan on is that the books on the blog will contain a link to discussion space here for each book (this in answer to the request about a discussion of The Rain In Spain), and in general there will be Tons Of Neat Stuff.
Category: Steve
TWoN Book 3 Chapter 8
Page 424: “When manufactures have advanced to a certain pitch of greatness, the fabrication of the instruments of trade becomes itself the object of a great number of very important manufactures.”
Page 436: “To hurt in any degree the interest of any one order of citizens, for no other purpose but to promote that of some other, is evidently contrary to that justice and equality of treatment which the sovereign owes to all the different orders of his subjects.” Delightfully contradictory when one considers that, by using the terms “sovereign” and “subjects” one is, ipso facto, assuming inequality.
Page 444: “Consumption is the sole end and purpose of all production; and the interest of the producer ought to be attended to, only so far as it may be necessary for promoting that of the consumer.” But the particular hallmark of capitalism–exactly what makes it capitalism and not something else–is production for exchange, rather than production for use.
Page 445: “A great empire has been established for the sole purpose of raising up a nation of customers who should be obliged to buy from the shops of our different producers, all the good with which these could supply them.” Ah, if only knew what the future held!
“It cannot be very difficult to determine who have been the contrivers of this whole mercantile system; not the consumers, we may believe, whose interest has been entirely neglected; but the producers, whose interest has been so carefully attended to; and and among this latter class our merchants and manufacturers have been by far the principal architects.”
TWoN: Book 3 Chapter 7
This chapter deals with colonies. Smith begins by discussing ancient Greek and Roman colonies, in order to contrast them with the colonies of his day. I don’t know enough history to be certain, but I get the feeling that the ancient colonies had nothing in common with the more modern ones except the name, so I’m not sure if the comparison is actually valid. Smith, in any case, does not seem to be a big fan of colonialism.
Page 421: “Projects of mining, instead of replacing the capital employed in them, together with the ordinary profits of stock, commonly absorb both capital and profit.” His point being that mining is risky, and therefore should not be especially encouraged by extraordinary laws lest it be harmful to the economy in general.
TWoN Book 3 Chapter 6
This chapter deals with treaties of commerce. As one would expect, Smith wants as few restrictions on trade as possible, and makes a good case.
Page 410: “A direct foreign trade of consumption is always more advantageous than a round-about one; and to bring the same value of foreign goods to the home market, requires a much smaller capital in the one way than in the other.” This brings up again the whole issue of whether transportation adds value, or whether, on the contrary, a portion of the surplus value must be used for transportation. It makes a difference because, in the latter case, transportation reduces profit. Smith is somewhat contradictory on the issue. It may be that it is different in different cases: If I must pay to transport my corn twenty miles to market, whereas another farmer need only transport his two miles to the same market, I cannot charge more for my corn simply because it went further, hence the transportation reduces my profit. Contrariwise, goods shipped from Japan to US markets must always have a certain markup compared to the price of the same item in Japan. Interesting question.
Bagelfail
The other day, desiring a sort of snack to calm the rumblings of hunger, I bethought myself to consider the possibility of a bagel. As two of the three people living here eat bagels (the third preferring some sort of abomination that goes under a similar name but contains raisins), it seemed likely we had some. In fact, a quick examination of the table showed that we did, and one of them was quickly sliced in half and inserted into the toaster.
As our toaster is rather slow, I now had time on my hands during which to consider what to have on the bagel. Many things are good on bagels, but the first thing that always comes to mind is: cream cheese. I opened the refrigerator looking for that familiar silvery foil container, and I was delighted to find it at once. I removed it, and saw, to my dismay, that, while it did have the familiar silvery foil, it did not say “Philadelphia” on it. I considered that Reesa, whom I have always felt that I could trust in all matters, apparently did not deserve this trust when it came to picking out cream cheese. Though sad about this, I consoled myself with the thought that some other brand, though not the same, was liable to be palatable. I should add that I could not actually see the brand, as half of the contents had been used, but I could clearly see the absence of the familiar black oval and calligraphy that I had expected.
The bagels being now toasted, I wasted no time in spreading the spreadable unto the receiving object, and, this done, at once bit into it.
Let me digress for a moment.
I use a lot of different oils and fats when I cook; butter, vegetable oil, lard, bacon fat, and others. When in doubt, olive oil is my default for Western cooking; seasame oil for that which is more Eastern. I have a good supply of oils and fats used for cooking, so that, when in need, I can go at once to the one I wish. Each of these oils and fats comes in a container with which I am familiar.
I did not know that there is a sort of lard-like vegetable oil that comes in a container that is indistinguishable from that usually associated with cream cheese.
I relate this story as a warning to others.