So, first Richard Branson and now Jeff Bezos have made their quick joyrides into space (or its neighborhood: in Branson’s case, it depends on whom you ask) and, critically, back. The flights were a victory lap of sorts for science, human ingenuity, and immense entrepreneurial drive. Not everyone was pleased.
Read MoreThis isn’t the first time that I have written about regulatory creep, and it won’t be the last. Lacking the legislative majorities required to push through much of his agenda, Joe Biden is turning to regulators for help. His won’t be the first White House to rely on unelected bureaucrats in this way, but one — how to put this — distinctive aspect of the Biden approach is the way that regulators are, with, presumably, the administration’s connivance, extending their mandates to places they were never intended to go. It’s not pretty, but as a device to bypass the democratic process it can be startlingly effective
Read MoreThe, well, woke nature of “woke capitalism” — a phenomenon intertwined with “socially responsible” investment (SRI), with stakeholder capitalism at its base — has obscured that the way in which this combination works owes far more to fascism than to socialism. Nearly 90 years ago, the progressive writer Roger Shaw described the New Deal as “employing Fascist means to gain liberal ends.” Overwrought, perhaps, but not without some truth. He would recognize what is going on now for what it is.
Underpinning the notion of “stakeholder capitalism,” a concept that has taken the C-suites of some of America’s largest companies by storm, is the idea that a company should be run for the benefit of all its “stakeholders,” a conveniently hazy term that can be defined to include (among others) workers, customers, and “the community,” as well as the shareholders who, you know, own the business. It’s a form of expropriation based on the myth that a corporation that puts its shareholders first must necessarily put everyone else last. In reality, an enterprise that, to a greater or lesser extent, fails to consider the needs of various — to use that word — stakeholders in mind, customers, most obviously (but certainly not only) is unlikely to flourish, and nor, therefore, will its owners.
Stakeholder capitalism is not only a threat to private property, but also, by not much of a stretch of the imagination, to individual freedom. To understand why, take a step back.
Read MoreBy the time you read this, Uncle Sam’s latest ‘definitive’ report on UFOs (it’s not the first) will have been made widely available, with the exception of a classified annex (there’s always room for a sequel). If the leaks are to be believed, we will have learned that there’s a lot more out there that we don’t know.
Read MoreHowever much some on the left might like to deny it, there is a legitimate distinction between capital appreciation and income. And however much some of them might understand it, ignoring the validity of that distinction is too good a propaganda opportunity to be passed up.
And so when ProPublica, “an independent, nonprofit newsroom that produces investigative journalism with moral force” “obtained” and then, in an article by Jesse Eisinger, Jeff Ernsthausen, and Paul Kiel, publicized some of the details of “a vast cache of IRS information showing how billionaires like Jeff Bezos, Elon Musk and Warren Buffett pay little in income tax compared to their massive wealth — sometimes, even nothing,” much of the secondhand reporting of their story, not to speak of the ProPublica article itself, followed an all too predictable script.
Read MoreTo say that tackling woke capitalism will not be easy is an understatement. Its ascent is the product of, among many other factors, the political challenge posed to free markets by a misunderstood financial crisis, the relentless leftward drift of our institutions, and, as always, the jockeying for power — and its prizes — among our elites. And then there is the manner in which anxiety over climate change — a key contributor to the current effort to redefine the nature and purpose of a corporation — is being used to overturn many of the economic and political assumptions on which our society is organized, thus intensifying what is already a perfect storm. Oh yes, there is also the small matter of the Democrat several months into his term in the White House, and the kind of president that he is proving to be.
Read MoreThe Middle Ages,” wrote Carl Jung in a 1958 book about UFOs, “have not died out. . . . Mythology and magic flourish as ever in our midst.” I doubt if Monica Black, a professor of history at the University of Tennessee and the author of A Demon-Haunted Land,an intriguing, subtle, and occasionally startling examination of a wave of superstitious belief that swept across Germany in the immediate post-war years, would disagree. Certainly, Black recognizes the fascination that supernatural ideas and practices, from astrology to the occult, held for millions of Germans “across the modern period” as well as the persistence of a long-standing tradition of folk and magical healing.
Read MoreAlarmed by chatter that Joe Biden was plotting to take my burgers away, I hurried online for reassurance. A journalist in the Guardian wrote that this was just scaremongering and along with the Washington Post traced the burger panic back tothe Daily Mail, which had run speculation (with caveats) that “Biden’s climate plan” could limit Americans to “just one burger a MONTH.” This was based on a single academic study, but the Mail was given its opportunity by what was described in the subheadline of a recent story in Vox as a “burger-shaped hole” in the president’s climate proposals.
Read MoreWriting a few years after the armistice that, at 11 o’clock on November 11, 1918, brought a halt to the fighting on the Western Front, John Buchan related how:
“At two minutes to eleven, opposite the South African Brigade, which represented the easternmost point reached by the British armies, a German machine gunner, after firing off a belt without pause, was seen to stand up beside his weapon, take off his helmet, bow, and then walk slowly to the rear. Suddenly, as the watch-hands touched eleven, there came a second of expectant silence, and then a curious rippling sound, which observers far behind the front likened to the noise of a light wind. It was the sound of men cheering from the Vosges to the sea.
After that, peace descended on the long battlefield. A new era had come and the old world had passed away.”
But cataclysms rarely end so elegantly. More of the old world lingers on into the new than is often presumed.
Read MoreReaders of Stephen Walker’s fine new account of how Yuri Gagarin, a 27-year-old Soviet air-force major (he was promoted from lieutenant while circling the Earth), became the first man in space will discover quite a bit about Gagarin the man, but a great deal more about the program that put him into orbit 60 years ago, on April 12, 1961.
Vasco da Gama, Gagarin was not. For all his skill, toughness, unflappability and courage, he was no explorer. In a way, he was merely the most important of all the fauna that the Soviets shot into space. The first astronauts had relatively little control over their capsules; the first cosmonauts had far less.
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