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Affluenza: The All-Consuming Epidemic by John de Graaf, David Wann, Thomas H Naylor, David Horsey
big-box store, Community Supported Agriculture, Corrections Corporation of America, Donald Trump, Exxon Valdez, financial independence, Ford paid five dollars a day, full employment, God and Mammon, greed is good, income inequality, informal economy, invisible hand, Isaac Newton, Mark Shuttleworth, McMansion, medical malpractice, new economy, Ralph Nader, Ray Oldenburg, Ronald Reagan, Silicon Valley, Simon Kuznets, single-payer health, The Great Good Place, trade route, upwardly mobile, Yogi Berra, young professional
The earliest of Jesus’s disciples and believers lived in simple communities where they shared all things in common and preached that “the love of money is the root of all evil.” “I think one of the most riveting passages in the New Testament is where Christ warns about Mammon, which is the power of wealth, the power of money,” says Dr. Richard Swenson, a physician who lectures widely in evangelical churches. “Christ says you cannot serve both God and Mammon. He didn’t say it’s hard, it’s difficult, it’s tricky. He said it’s impossible.”10 In fact, one of Jesus’s final public acts was a stinging rebuke to the affluenza that had begun to permeate his society. By chasing the money-lenders from the temple and overturning their tables, he challenged physically (one might even say, violently) a profane commercialism that had crept into even the holiest of places.
For example, a parody of Calvin Klein’s “Obsession” ads shows men staring into their underwear, while another mocking Absolut Vodka shows a partially melted plastic vodka bottle, with the caption “Absolute Impotence” and a warning in small print that “drink increases the desire but lessens the performance.” John’s favorite ad mocks no real product but shows a handsome young businessman who says he’s one of many who are turning to “Mammon,” because “I want a religion that doesn’t complicate my life with unreasonable ethical demands.” It’s an obvious play on Christ’s declaration that “you cannot serve both God and Mammon.” “We’re not the biggest player in the spiritual arena, but we’re the fastest growing,” the Mammon anti-ad declares. It’s a subtle but powerful reminder of the decline of true spirituality in the Age of Affluenza. Perhaps the most successful of Adbusters’ parodies were its anti-smoking ads. In one of them, two Marlboro Man-type cowboys ride side by side in the sunset. “I miss my lung, Bob,” reads the caption.
Global Financial Crisis by Noah Berlatsky
accounting loophole / creative accounting, asset-backed security, banking crisis, Bretton Woods, capital controls, Celtic Tiger, centre right, circulation of elites, collapse of Lehman Brothers, collateralized debt obligation, corporate raider, credit crunch, Credit Default Swap, credit default swaps / collateralized debt obligations, deindustrialization, Doha Development Round, energy security, eurozone crisis, financial innovation, Food sovereignty, George Akerlof, God and Mammon, Gordon Gekko, housing crisis, illegal immigration, income inequality, market bubble, market fundamentalism, mass immigration, moral hazard, new economy, Northern Rock, purchasing power parity, quantitative easing, race to the bottom, regulatory arbitrage, reserve currency, Robert Shiller, Robert Shiller, Ronald Reagan, shareholder value, South China Sea, structural adjustment programs, too big to fail, trade liberalization, transfer pricing, working poor
We have more derivatives, more leverage [borrowing money to invest], and bigger losses. Wall Street is hardly superior when it comes to generosity and detachment from worldly goods. We need simpler rules, ones that tackle the real issues. But more than rules, we need personal conversion. The apostle Paul identiﬁed the issue 2,000 years ago: the love of money is the root of all evils (1 Timothy 6: 10). He concurred with Jesus, who said, You cannot serve God and mammon [wealth or greed personiﬁed] (Matthew 6: 24). The goods of this world are good. But we have to pursue them in the right order, guided by love of God and neighbor. It applies to personal life and it applies to ﬁnance. Wisdom 30 Causes of the Global Financial Crisis shuns greed. Prudence depends on the moral virtues, as Aristotle taught. Greed is like pride: it blinds. 2008 will be a tough year.
Masters of Mankind by Noam Chomsky
affirmative action, American Legislative Exchange Council, Berlin Wall, failed state, God and Mammon, income inequality, Intergovernmental Panel on Climate Change (IPCC), land reform, Martin Wolf, means of production, nuremberg principles, offshore financial centre, oil shale / tar sands, Paul Samuelson, Plutocrats, plutocrats, profit maximization, Ralph Waldo Emerson, Silicon Valley, the scientific method, The Wealth of Nations by Adam Smith, too big to fail, union organizing, urban renewal, War on Poverty, Washington Consensus, Westphalian system
Weapons of destruction are casually given similar names: Apache, Blackhawk, Comanche helicopters; Tomahawk missiles; and so on. How would we react if the Luftwaffe named its lethal weapons “Jew” and “Gypsy”? The British record is much the same. Britain pursued its divine mission in the evangelization of Africa, while exercising in India “a trusteeship mysteriously placed in their hands by Providence,” easy to comprehend in a country “where God and Mammon seemed made for each other.”10 Figures of the highest moral integrity and intelligence gave a secular version of the creed, strikingly John Stuart Mill in his extraordinary apologetics for British crimes, written just as they peaked in India and China, in an essay now taken to be a classic of the literature of “humanitarian intervention.” It is only fair to note that there were different voices.
Capitalism: Money, Morals and Markets by John Plender
activist fund / activist shareholder / activist investor, Andrei Shleifer, asset-backed security, bank run, Berlin Wall, Big bang: deregulation of the City of London, Black Swan, bonus culture, Bretton Woods, business climate, Capital in the Twenty-First Century by Thomas Piketty, central bank independence, collapse of Lehman Brothers, collective bargaining, computer age, Corn Laws, corporate governance, creative destruction, credit crunch, Credit Default Swap, David Ricardo: comparative advantage, deindustrialization, Deng Xiaoping, discovery of the americas, diversification, Eugene Fama: efficient market hypothesis, eurozone crisis, failed state, Fall of the Berlin Wall, fiat currency, financial innovation, financial intermediation, Fractional reserve banking, full employment, God and Mammon, Gordon Gekko, greed is good, Hyman Minsky, income inequality, inflation targeting, information asymmetry, invention of the wheel, invisible hand, Isaac Newton, James Watt: steam engine, Johann Wolfgang von Goethe, John Maynard Keynes: Economic Possibilities for our Grandchildren, John Meriwether, joint-stock company, Joseph Schumpeter, labour market flexibility, liberal capitalism, light touch regulation, London Interbank Offered Rate, London Whale, Long Term Capital Management, manufacturing employment, Mark Zuckerberg, market bubble, market fundamentalism, mass immigration, means of production, Menlo Park, money market fund, moral hazard, moveable type in China, Myron Scholes, Nick Leeson, Northern Rock, Occupy movement, offshore financial centre, paradox of thrift, Paul Samuelson, Plutocrats, plutocrats, price stability, principal–agent problem, profit motive, quantitative easing, railway mania, regulatory arbitrage, Richard Thaler, rising living standards, risk-adjusted returns, Robert Gordon, Robert Shiller, Robert Shiller, Ronald Reagan, savings glut, shareholder value, short selling, Silicon Valley, South Sea Bubble, spice trade, Steve Jobs, technology bubble, The Chicago School, The Great Moderation, the map is not the territory, The Wealth of Nations by Adam Smith, Thorstein Veblen, time value of money, too big to fail, tulip mania, Upton Sinclair, Veblen good, We are the 99%, Wolfgang Streeck, zero-sum game
Plato set the tone in The Republic, where he had Socrates tell Adeimantus that ‘the more they [men] think of making a fortune, the less they think of virtue; for when riches and virtue are placed together in the scales of the balance, the one always rises as the other falls’.1 In the Laws, his Athenian speaker accused business of ‘breeding in men’s souls knavish and tricky ways’.2 Aristotle lent support in his Politics, frowning on trade, which he regarded as ignoble: ‘There are two sorts of wealth-getting … one is a part of household management, the other is retail trade: the former necessary and honourable, while that which consists in exchange is justly censured; for it is unnatural, and a mode by which men gain from one another.’ As for finance, he declared that ‘of all the modes of getting wealth this is the most unnatural’ – a sentiment that resonates down the ages in the light of recurring financial crises.3 Then came the New Testament, with its low view of worldly goods and its uncompromising assertion that it was impossible to serve both God and Mammon. Jesus had no time for the rich, suggesting that it was well-nigh impossible for them to enter the kingdom of heaven. And then, of course, there was the apostle Paul, that terrible old curmudgeon, who launched the definitive anti-materialist assault in his letter to Timothy, where he declared that the love of money was the root of all evil. Business people have had as bad a press as business itself.
The Fear Index by Robert Harris
algorithmic trading, backtesting, banking crisis, dark matter, family office, Fellow of the Royal Society, fixed income, Flash crash, God and Mammon, high net worth, implied volatility, mutually assured destruction, Neil Kinnock, Renaissance Technologies, speech recognition
‘My friends, I know we are still eating, but if ever there was a time for a spontaneous toast in the Russian manner – forgive me, Mieczyslaw – then I think this must be it.’ He cleared his throat. He seemed on the point of tears. ‘Dear guests, we are honoured by your presence, by your friendship, and by your trust. I truly believe we are present at the birth of a whole new force in global asset management, the product of the union of cutting-edge science and aggressive investment – or, if you prefer, of God and Mammon.’ More laughter. ‘At which happy event, it seems to me only right that we should stand and raise our glasses to the genius who has made it possible – no, no, not to me.’ He beamed down at Hoffmann. ‘To the father of VIXAL-4 – to Alex!’ With a scrape of chair legs, a chorus of ‘To Alex!’ and a peal of clinking cut glass, the investors stood and toasted Hoffmann. They looked at him fondly – even Mussard managed to curl his lip – and when they had all sat down they carried on nodding and smiling at him until he realised to his dismay that they expected him to respond.
The Spirit Level: Why Greater Equality Makes Societies Stronger by Richard Wilkinson; Kate Pickett
basic income, Berlin Wall, clean water, Diane Coyle, epigenetics, experimental economics, experimental subject, Fall of the Berlin Wall, full employment, germ theory of disease, Gini coefficient, God and Mammon, impulse control, income inequality, Intergovernmental Panel on Climate Change (IPCC), knowledge economy, labor-force participation, land reform, Louis Pasteur, meta analysis, meta-analysis, Milgram experiment, moral panic, offshore financial centre, phenotype, Plutocrats, plutocrats, profit maximization, profit motive, Ralph Waldo Emerson, statistical model, The Chicago School, The Spirit Level, The Wealth of Nations by Adam Smith, Thorstein Veblen, ultimatum game, upwardly mobile, World Values Survey, zero-sum game
At the other extreme is mutual interdependence and co-operation, in which each person’s security depends on the quality of their relationships with others, and a sense of self-worth comes less from status than from the contribution made to the wellbeing of others. Rather than the overt pursuit of material self-interest, affiliative strategies depend on mutuality, reciprocity and the capacity for empathy and emotional bonding. In practice, of course, god and mammon coexist in every society and the territory of each varies depending on the sphere of life, the economic system and on individual differences. EARLY EXPERIENCE So different are the kinds of society which humans have had to cope with that the processes which adapt us to deal with any given social system start very early in life. Growing up in a society where you must be prepared to treat others with suspicion, watch your back and fight for what you can get, requires very different skills from those needed in a society where you depend on empathy, reciprocity and co-operation.
No Such Thing as Society by Andy McSmith
anti-communist, Ayatollah Khomeini, Berlin Wall, Big bang: deregulation of the City of London, Bob Geldof, British Empire, Brixton riot, call centre, cuban missile crisis, Etonian, F. W. de Klerk, Farzad Bazoft, feminist movement, fixed income, Francis Fukuyama: the end of history, friendly fire, full employment, glass ceiling, God and Mammon, greed is good, illegal immigration, index card, John Bercow, liberal capitalism, light touch regulation, Live Aid, loadsamoney, long peace, means of production, Mikhail Gorbachev, mortgage debt, mutually assured destruction, negative equity, Neil Kinnock, North Sea oil, Northern Rock, old-boy network, popular capitalism, Right to Buy, Ronald Reagan, Rubik’s Cube, Sloane Ranger, South Sea Bubble, spread of share-ownership, strikebreaker, The Chicago School, union organizing, upwardly mobile, urban decay, Winter of Discontent, young professional
As the traders arrived at work, they set their computers to sell shares at whatever price they could get, in the expectation that prices would continue to fall. The strategy depended, of course, on someone else being prepared to bet that shares would rise, but there were no takers, so the computers had to set share prices ever lower to attract buyers. After the crash ‘portfolio insurance’ was deemed to be a bad idea.2 Thus it appeared that both God and Mammon had signalled that capitalism was collapsing, as revolutionary Marxists had been predicting for so long. In that same month, October 1987, a coroner’s jury brought in a verdict of unlawful killing in the inquest into 188 people who had died in Britain’s worst peacetime disaster at sea for nearly seventy years, when a roll-on roll-off car ferry capsized just outside the Belgian port of Zeebrugge on 6 March 1987.
Microtrends: The Small Forces Behind Tomorrow's Big Changes by Mark Penn, E. Kinney Zalesne
affirmative action, Albert Einstein, Ayatollah Khomeini, Berlin Wall, big-box store, call centre, corporate governance, David Brooks, Donald Trump, extreme commuting, Exxon Valdez, feminist movement, glass ceiling, God and Mammon, Gordon Gekko, haute couture, hygiene hypothesis, illegal immigration, immigration reform, index card, Isaac Newton, job satisfaction, labor-force participation, late fees, life extension, low skilled workers, mobile money, new economy, RAND corporation, Renaissance Technologies, Ronald Reagan, Rosa Parks, Rubik’s Cube, stem cell, Stephen Hawking, Steve Jobs, Superbowl ad, the payments system, Thomas L Friedman, upwardly mobile, uranium enrichment, urban renewal, War on Poverty, white picket fence, women in the workforce, Y2K
It integrates data from the RAND Terrorism Chronology and RAND-MIPT Terrorism Incident databases, the Terrorism Indictment database, and DFI International’s research on terrorist organizations, and is funded through the U.S. Department of Homeland Security’s Office of Grants and Training. Key articles for this chapter include Bruce Hoffman, “We Can’t Win if We Don’t Know the Enemy,” Washington Post, March 25, 2007; George Packer, “Knowing the Enemy,” New Yorker, December 18, 2006; Daniel Pipes, “God and Mammon: Does Poverty Cause Militant Islam?,” National Interest, Winter 2002; and Alan B. Krueger and Jitka Maleckova, “Seeking the Roots of Terrorism,” Chronicle of Higher Education, June 6, 2003. In particular, the studies on terrorists in Egypt, Lebanon, and Israel are summarized in the latter piece. Marc Sageman’s book, Understanding Terror Networks (University of Pennsylvania Press, 2004), is helpfully excerpted in his Foreign Policy Research Institute e-note, November 1, 2004, accessed March 2007, at http://www.fpri.org/enotes/20041101.middleeast.sageman.understandingterrornetworks.html.
Sacred Economics: Money, Gift, and Society in the Age of Transition by Charles Eisenstein
Albert Einstein, back-to-the-land, bank run, Bernie Madoff, big-box store, Bretton Woods, capital controls, clean water, collateralized debt obligation, commoditize, corporate raider, credit crunch, David Ricardo: comparative advantage, debt deflation, deindustrialization, delayed gratification, disintermediation, diversification, fiat currency, financial independence, financial intermediation, fixed income, floating exchange rates, Fractional reserve banking, full employment, global supply chain, God and Mammon, happiness index / gross national happiness, hydraulic fracturing, informal economy, invisible hand, Jane Jacobs, land tenure, land value tax, Lao Tzu, liquidity trap, lump of labour, McMansion, means of production, money: store of value / unit of account / medium of exchange, moral hazard, mortgage debt, new economy, off grid, oil shale / tar sands, Own Your Own Home, Paul Samuelson, peak oil, phenotype, Ponzi scheme, profit motive, quantitative easing, race to the bottom, Scramble for Africa, special drawing rights, spinning jenny, technoutopianism, the built environment, Thomas Malthus, too big to fail
Money seems to be destroying the earth, as we pillage the oceans, the forests, the soil, and every species to feed a greed that knows no end. From at least the time that Jesus threw the money changers from the temple, we have sensed that there is something unholy about money. When politicians seek money instead of the public good, we call them corrupt. Adjectives like “dirty” and “filthy” naturally describe money. Monks are supposed to have little to do with it: “You cannot serve God and Mammon.” At the same time, no one can deny that money has a mysterious, magical quality as well, the power to alter human behavior and coordinate human activity. From ancient times thinkers have marveled at the ability of a mere mark to confer this power upon a disk of metal or slip of paper. Unfortunately, looking at the world around us, it is hard to avoid concluding that the magic of money is an evil magic.
A Splendid Exchange: How Trade Shaped the World by William J. Bernstein
Admiral Zheng, asset allocation, bank run, Benoit Mandelbrot, British Empire, call centre, clean water, Columbian Exchange, Corn Laws, David Ricardo: comparative advantage, deindustrialization, Doha Development Round, domestication of the camel, double entry bookkeeping, Eratosthenes, financial innovation, Gini coefficient, God and Mammon, ice-free Arctic, imperial preference, income inequality, intermodal, James Hargreaves, John Harrison: Longitude, Khyber Pass, low skilled workers, non-tariff barriers, Paul Samuelson, placebo effect, Port of Oakland, refrigerator car, Silicon Valley, South China Sea, South Sea Bubble, spice trade, spinning jenny, Steven Pinker, The Wealth of Nations by Adam Smith, Thomas L Friedman, Thomas Malthus, trade liberalization, trade route, transatlantic slave trade, transatlantic slave trade, transcontinental railway, upwardly mobile, working poor, zero-sum game
The slave-laden vessels proceeded on the southbound journey to Alexandria (one of whose entrances was called the Pepper Gate) or to Cairo, where they filled their holds with pepper, ginger, cinnamon, nutmeg, and cloves brought by Arab traders from points east. This trade gave the Genoese a financial and strategic leg up against their Venetian rivals. The end of the crusader outposts in the Levant was clearly hastened by the slave-soldiers conveyed by the Genoese, who seemed to have little trouble choosing between God and Mammon. In the words of the historian Andrew Ehrenkreutz, When compared with all the materialistic benefits obtained from the businesslike relations with the Mamluks, the final humiliation of the Cross in the Levant was of small concern to the hard-headed Christians of Genoa.33 Just as quickly as the demand for the Bosphorus-Black Sea slave route arose, it collapsed with the dissolution of the Ilkhan Mongol threat and the fall of Acre and Tyre in 1291.
The Great Turning: From Empire to Earth Community by David C. Korten
Albert Einstein, banks create money, big-box store, Bretton Woods, British Empire, clean water, colonial rule, Community Supported Agriculture, death of newspapers, declining real wages, European colonialism, Francisco Pizarro, full employment, George Gilder, global supply chain, global village, God and Mammon, Hernando de Soto, Howard Zinn, informal economy, Intergovernmental Panel on Climate Change (IPCC), invisible hand, joint-stock company, land reform, market bubble, market fundamentalism, Monroe Doctrine, Naomi Klein, neoliberal agenda, new economy, peak oil, planetary scale, Plutocrats, plutocrats, Project for a New American Century, Ronald Reagan, Rosa Parks, sexual politics, source of truth, South Sea Bubble, stem cell, structural adjustment programs, The Chicago School, trade route, Washington Consensus, wealth creators, World Values Survey
So let us now take a brief look at the formation of the colonial empires of the modern European nation-states and their transmogriﬁcation into the institutions of the global corporate empires of the late twentieth century as the ruling class negotiated an end run around the modern democratic challenge to its power and privilege. CHAPTER 7 Modern Empire No man can serve two masters: for either he will hate the one, and love the other; or else he will hold to the one, and despise the other. Ye cannot serve God and mammon. Matthew 6:24 As we look deeper for the soul of capitalism, we ﬁnd that, in the terms of ordinary human existence, American capitalism doesn’t appear to have one. In the economic sphere, efﬁciency trumps community. Maximizing returns comes before family or personal loyalty. What seems priceless in one realm may be wasted freely or even destroyed by the other.1 William Greider By the reckoning of Western historians, the modern era began in 1500.
Krakatoa: The Day the World Exploded by Simon Winchester
Alfred Russel Wallace, British Empire, cable laying ship, global village, God and Mammon, Isaac Newton, joint-stock company, Marshall McLuhan, mass immigration, Maui Hawaii, South China Sea, spice trade, trade route
The collisions between Arab-inspired Islam and its agents, and the money-driven,. trade-driven West and hers, have been many and various: those that occurred in the East Indies in the latter part of the nineteenth century are now, when seen from today's perspective, classics of the kind. Islam first came to the East Indies in the thirteenth century, and ironically (considering the present schism between East and West, between spirituality and materialism, between God and Mammon) it came with Arab traders who were in search of business there. There is a grave of a sultan in north Sumatra that dates from 1211. There is another, at Gresik in east Java, which sports designs indicating that it was carved by masons from India in 1419. A late-fifteenth-century mosque in Demak, on the north coast of Java about 300 miles east of Batavia, was clearly the result of architectural compromises between Javanese and Arab builders.
Titan: The Life of John D. Rockefeller, Sr. by Ron Chernow
California gold rush, collective bargaining, death of newspapers, delayed gratification, double entry bookkeeping, endowment effect, family office, financial independence, Frederick Winslow Taylor, George Santayana, God and Mammon, income inequality, invisible hand, Joseph Schumpeter, Louis Pasteur, Mahatma Gandhi, Menlo Park, New Journalism, oil rush, oil shale / tar sands, passive investing, Plutocrats, plutocrats, price discrimination, profit motive, Ralph Waldo Emerson, refrigerator car, The Chicago School, Thorstein Veblen, transcontinental railway, traveling salesman, union organizing, Upton Sinclair, white picket fence, yellow journalism
—San Francisco Chronicle “You can read the book as a sympathetic portrait of a complex man, a business history, a legal battle, or simply as a great yarn.” —Business Week “It is hard to imagine a better biography of Rockefeller being written. . . . An enthralling biography of an enthralling person.” —Chicago Tribune “A monumental and mesmerizing biography . . . a fascinating yarn, capturing a man who insisted he could serve God and Mammon.” —The San Diego Union-Tribune “A richly textured and engagingly lively portrait. . . . It is a remarkable story and Chernow tells it with confidence and clarity . . . probably the last word on a genuine titan.” —Daily News “Rockefeller lived one of the great American lives, and Chernow has provided him with one of the great American biographies.” —The Sunday Times (London) “In this splendid biography, justice is finally done to [Rockefeller’s] memory.”
This situation steeled Rockefeller in his determination to own his competitors instead of just presiding over a confederation of perennially warring members. Where Rockefeller differed most from his fellow moguls was that he wanted to be both rich and virtuous and claim divine sanction for his actions. Perhaps no other businessman in American history has felt so firmly on the side of the angels. Critics were quick to spy an oily sanctimony in this servant of God and Mammon and wonder why his religious beliefs didn’t trammel his acquisitive nature. They converted him into a wily Machiavellian or a stock figure from a Balzac novel—the pious, cunning hypocrite who showily attends church on Sunday then spends the rest of the week trampling rivals underfoot. More generous critics argued that he simply led parallel lives, with a complete separation of his public and private selves.
The Last Spike: The Great Railway, 1881-1885 by Pierre Berton
banking crisis, business climate, California gold rush, centre right, Columbine, financial independence, God and Mammon, Khartoum Gordon, mass immigration, transcontinental railway, unbiased observer, young professional
In January, a stranger seeking a church service inquired of “a respectable elderly gentleman” where the town hall might be, since it did double service as the Presbyterian meeting place. The Winnipegger jumped to the obvious conclusion that the stranger wanted to buy the property and informed him that it had already been sold at eight hundred dollars a front foot. He “was unable to realize the possibility of any one coming to Winnipeg for any other purpose than to learn how real estate was going.” Certainly, the dividing line between God and Mammon was blurred that hectic winter. Early in February, the trustees of Knox Presbyterian Church succumbed to the craze. The church occupied a valuable corner lot at the junction of Fort and Portage; it had cost twenty-two thousand dollars to build; the land had been secured for a few hundred. The trustees announced that the building would be auctioned off on February 18, 1882, to the highest bidder.
A People's History of the United States by Howard Zinn
active measures, affirmative action, agricultural Revolution, Albert Einstein, anti-communist, Bartolomé de las Casas, Bernie Sanders, British Empire, clean water, colonial rule, death of newspapers, desegregation, equal pay for equal work, feminist movement, friendly fire, full employment, God and Mammon, Howard Zinn, illegal immigration, jobless men, land reform, Mercator projection, Mikhail Gorbachev, minimum wage unemployment, Monroe Doctrine, new economy, New Urbanism, Norman Mailer, offshore financial centre, Plutocrats, plutocrats, profit motive, Ralph Nader, Ralph Waldo Emerson, RAND corporation, Ronald Reagan, Rosa Parks, Silicon Valley, strikebreaker, Telecommunications Act of 1996, The Wealth of Nations by Adam Smith, transcontinental railway, union organizing, Upton Sinclair, very high income, War on Poverty, Works Progress Administration
Tourism can be encouraged by continued security of scenic and historic areas and by the erection of a new Hyatt Hotel. . . . South Vietnam needs foreign investment to finance these and other developments. . . . She has a large labor pool of talented, industrious people whose cost of labor is far less than Hong Kong, Singapore, or even Korea or Taiwan. . . . I also feel there is much profit to be made there. The combination of serving both God and Mammon had proved attractive to Americans and others in the past. . . . Vietnam can be the next “take off” capitalistic showplace in Asia. In the spring of 1975, everything that radical critics of American policy in Vietnam had been saying—that without American troops, the Saigon government’s lack of popular support would be revealed—came true. An offensive by North Vietnamese troops, left in the South by terms of the 1973 truce, swept through town after town.
Admiral Zheng, agricultural Revolution, Albert Einstein, anti-communist, Arthur Eddington, Atahualpa, Berlin Wall, British Empire, Columbian Exchange, conceptual framework, cuban missile crisis, defense in depth, demographic transition, Deng Xiaoping, discovery of the americas, Doomsday Clock, en.wikipedia.org, falling living standards, Flynn Effect, Francisco Pizarro, global village, God and Mammon, hiring and firing, indoor plumbing, Intergovernmental Panel on Climate Change (IPCC), invention of agriculture, Isaac Newton, James Watt: steam engine, Kitchen Debate, knowledge economy, market bubble, mass immigration, Menlo Park, Mikhail Gorbachev, mutually assured destruction, New Journalism, out of africa, Peter Thiel, phenotype, pink-collar, place-making, purchasing power parity, RAND corporation, Ray Kurzweil, Ronald Reagan, Scientific racism, sexual politics, Silicon Valley, Sinatra Doctrine, South China Sea, special economic zone, Steve Jobs, Steve Wozniak, Steven Pinker, strong AI, The inhabitant of London could order by telephone, sipping his morning tea in bed, the various products of the whole earth, The Wealth of Nations by Adam Smith, Thomas Kuhn: the structure of scientific revolutions, Thomas L Friedman, Thomas Malthus, trade route, upwardly mobile, wage slave, washing machines reduced drudgery
But although he counted and taxed his subjects as enthusiastically as Hideyoshi, increased revenues, and soundly defeated France and Turkey, the final victory that would unite western Europe never came any closer. The harder his taxmen squeezed, the more problems mounted. Philip’s subjects—breeding like mice in a barn, caught between starvation and the state, and seeing their contributions spent on quarrels in faraway countries with peoples of whom they knew nothing—increasingly fought back. In the 1560s Philip even managed to push God and Mammon into the same camp. The normally stolid Dutch burghers, persecuted by the Habsburgs for their Protestantism and burdened by heavier taxes, went on an altar-smashing, church-desecrating rampage. Losing the wealthy Netherlands to a nest of Calvinists was unthinkable, so Philip sent in the army, only for the Dutch to raise one of their own. Philip kept winning battles but could not win the war.
God's Bankers: A History of Money and Power at the Vatican by Gerald Posner
Albert Einstein, anti-communist, Ayatollah Khomeini, bank run, banking crisis, Bretton Woods, central bank independence, centralized clearinghouse, centre right, credit crunch, dividend-yielding stocks, European colonialism, forensic accounting, God and Mammon, Index librorum prohibitorum, liberation theology, medical malpractice, Murano, Venice glass, offshore financial centre, oil shock, operation paperclip, rent control, Ronald Reagan, Silicon Valley, WikiLeaks, Yom Kippur War
Briggs, “Center of Strife Under Cody: All Charges Denied,” The New York Times, September 20, 1981, 20. 33 Clements, Mustain & Larson, “Federal Grand Jury probes Cardinal Cody’s Use of Church Funds,” Chicago Sun-Times, September 10, 1981, 1; D. Winston, “Chicago Archbishop Under US Inquiry on Funds,” The New York Times, September 11, 1981, 16. See also Andrew M. Greeley, Furthermore! Memories of a Parish Priest (New York: Tom Doherty Associates, 2000), Google ebook edition 2011, 88–89; Hoffman, Anatomy of the Vatican, 64; Alexander L. Taylor III, “God and Mammon in Chicago,” Time, September 21, 1981; Linda Witt and John McGuire, “A Deepening Scandal Over Church Funds Rocks a Cardinal and His Controversial Cousin,” People, September 28, 1981. 34 Ibid.; Barry W. Taylor, “Diversion of Church Funds to Personal Use: State, Federal and Private Sanctions,” Journal of Criminal Law and Criminology 73, no. 3, Article 16, 1205–06. See also Thomas and Morgan-Witts, Pontiff, 28–29, 71, 109. 35 Greeley, recounting his talk with Cardinal Baggio, May 11, 2007.