Joseph Schumpeter was born on 8 February 1883. An economist, his enduring idea was that capitalism is growth and growth needs innovation; the entrepreneur + creative destruction = a system which thrives upon itself. He was overshadowed by Keynes during his life but his work endures. Unlike most capitalists, he was a student of Marx.… Continue reading #OTD 8 February
Month: February 2022
#OTD 7 February
Burning performs the useful ambiguity of destruction and absolution. So the 1933 book burnings by the German Student Union were dubbed “Action against the Un-German Spirit”. The logical conclusion is Ray Bradbury’s Farenheit 451, where the role of the fireman is not to put out fires but to make them for the specific purpose of… Continue reading #OTD 7 February
#OTD 6 February
Some three to five million Africans reached Brazil as slaves. Over nine decades from 1605 in what is now the state of Alagoas, Palmares developed from a fugitive community to a kingdom which parleyed with, fought with, and so had a recognition of sorts by, the Dutch and the Portuguese. On 6 February 1694, the… Continue reading #OTD 6 February
#OTD 5 February
On 5 February 1919, United Artists was formed by Charlie Chaplin, Mary Pickford, Douglas Fairbanks and DW Griffiths. As the name suggests, it was an attempt by the Talent to take on the System. The idea foundered as the founders found that banks preferred cash flow over bankability. The little person taking on and beating… Continue reading #OTD 5 February
#OTD 4 February
On 4 February 1801, John Marshall was sworn in as chief justice of the United States. His legacy is a profoundly practical one, and one that still rankles with many. He, along with many of the founding fathers, accepted as wisdom of Montesquieu’s separation of powers. In Marshall’s words, the legislature makes, the executive executes,… Continue reading #OTD 4 February