tag:blogger.com,1999:blog-1462488453822156883.post6766112196760354068..comments2024-03-28T22:51:37.034+11:00Comments on loon pond: In which the Caterists induce a sense of end times ennui ...Unknownnoreply@blogger.comBlogger8125tag:blogger.com,1999:blog-1462488453822156883.post-24429680469806668362018-02-08T15:01:36.192+11:002018-02-08T15:01:36.192+11:00It slightly shames me to admit, but I quite like s...It slightly shames me to admit, but I quite like some of Ferguson's early stuff - <i>The Pity of War</i> is thought-provoking, though it has much that I disagree with. <i>The Ascent of Money</i> (or at least the bits of the series I saw) had some interesting takes, but it was a bit like a sushi train - the random morsels are tasty, but there is never enough <i>unagi</i> to satisfy everyone. TAoM only briefly mentions Roman finances, so if he does mention Diocletian at all, it's probably in line with the Caterist - I wouldn't be surprised if that's where Nick got his wisdom, which I sure is received rather than earned.<br /><br />Ferguson was pretty old school from the start, but somewhere in the early noughties he became positively odd, and by 2010 he'd gone full RWNJ, wondering endlessly why others didn't appreciate his evident genius...FrankDnoreply@blogger.comtag:blogger.com,1999:blog-1462488453822156883.post-10374023502776826062018-02-08T00:39:32.909+11:002018-02-08T00:39:32.909+11:00Well it's good that somebody still knows these...Well it's good that somebody still knows these things, FD, but of course all things slowly melt away into oblivion over time. In a world in which more is written and published every 15 minutes (even if only on the web) than any one person could read in a lifetime, then 'human knowledge' becomes a very uncertain matter.<br /><br />Though I did wonder if Niall Ferguson might have had something to say about Diocletian in his 'The Ascent of Money: A Financial History of the World' but life is too short to spend any amount of it reading Ferguson writings.GrueBleennoreply@blogger.comtag:blogger.com,1999:blog-1462488453822156883.post-76839343541844865372018-02-07T23:52:26.136+11:002018-02-07T23:52:26.136+11:00Ahh well it's good to know that an overpriced ...Ahh well it's good to know that an overpriced education and blowing off a few terms on Ancient History at uni wasn't a complete waste of time then. My pater familias would be chuffed! 8^)FrankDnoreply@blogger.comtag:blogger.com,1999:blog-1462488453822156883.post-8598734996020631132018-02-07T15:49:03.676+11:002018-02-07T15:49:03.676+11:00Aren't we all just a wee bit.Aren't we all just a wee bit.GrueBleennoreply@blogger.comtag:blogger.com,1999:blog-1462488453822156883.post-91221717277669579272018-02-07T08:14:29.790+11:002018-02-07T08:14:29.790+11:00The pond is impressed, FrankD!!The pond is impressed, FrankD!!dorothy parkerhttps://www.blogger.com/profile/00816807935021738560noreply@blogger.comtag:blogger.com,1999:blog-1462488453822156883.post-61049115221988988902018-02-07T04:29:02.655+11:002018-02-07T04:29:02.655+11:00A life-rule for the Right-wingnuts: if you don...A life-rule for the Right-wingnuts: if you don't understand anything, then you don't have to admit to anything.GrueBleennoreply@blogger.comtag:blogger.com,1999:blog-1462488453822156883.post-81421846998775722352018-02-07T01:27:33.903+11:002018-02-07T01:27:33.903+11:00Start with a stupid premise and what follows is pr...Start with a stupid premise and what follows is probably too stupid to waste my time on. Since the Caterist almost always starts from stupid...<br /><br />Despite its name, Diocletian's Edict on Maximum Prices was not what Goosebumps thinks. It was not a price control dictat, per se, but an attempt to regulate the exchange rate between fiat-value bronze coinage and precious-metal-value silver and gold. Diocletian had made great strides in restoring the confidence in gold and silver currency, which had been, respectively, mildly and absurdly debased by the the string of contenders for the throne. You've set yourself up as emperor, but have no money? Never mind, just hoover up as much silver coin as you can find, re-mint it with a fraction of the silver content, and boom! Money tree! <br /><br />Diocletian made progress in stabilising the value of silver coins, but (due to his failed early version of "quantitative easing") couldn't manage the same with everyday bronze coins , which halved in value over the last five years of his reign (since these were used for everyday transactions, that means an effective inflation rate of 15% per year). But prices for things paid for in silver and gold didn't change that much. The Edict regulated prices based on a nominal ratio between bronze coins and gold. Ultimately it failed and it took another 30 years to even vaguely sort out the mess left by the chaos of the late 3rd century. <br /><br />The range of commodities in the edict are the giveaway; yes they include everyday items, but go as high as one pound of purple dyed silk set at 150,000 denarii. As if anyone would buy such a commodity with bronze coins? Of course its actual value was around 125 - 150 solidi, but the point was to fix the exchange rate in the ballpark of 1000 - 1200 d to the solidus.<br /><br />Restoring "full faith and credit" to the currency is something he should praise, but the Billericay Boy will always go for a little razzle-dazzle if he thinks it will sound clever to his readers. Oz opinion pieces are a bit like 3rd century silver coins. Early ones probably had some intrinsic value, but recently have become so debased that they just have a little bling on the surface to hide the dull metal within.FrankDnoreply@blogger.comtag:blogger.com,1999:blog-1462488453822156883.post-34419537979848229002018-02-06T16:22:11.352+11:002018-02-06T16:22:11.352+11:00"...the pond might be able to leave its obses..."...<i>the pond might be able to leave its obsession with reptiles behind and take an interest in the wider world</i>."<br /><br />That would be quite something DP. I (and I'm certain that really means 'we') do enjoy your effortless destruction of the reptiles on a daily basis - and I'd say that you have achieved the Zen state of "artless art" in every respect: commentary, cartoons (quality and quantity), links and ongoing lessons in literacy, history and society.<br /><br />One always hates to think of a good thing ending, but maybe your recent attention to the Aussie Spectator indicates a desire for more challenging targets (though, forgive me, they are not to be found in the Speccie - though yes, Mr "Aux bien pensants" does have his own madness to amuse us all).<br /><br />You have once already graduated from your initial target to taking on the entire Murdoch herpetarium - but over time, even that challenge may need to be reconsidered.<br /><br />And in the meantime, a little bit of Fitzgerald's Khayyam for the pause that refreshes:<br /><br /><i>Myself when young did eagerly frequent<br />Doctor and Saint, and heard great Argument<br />About it and about: but evermore<br />Came out by the same Door as in I went.<br /><br />Ah! my Beloved, fill the Cup that clears<br />To-day of past Regrets and future Fears<br />To-morrow?–Why, To-morrow I may be<br />Myself with Yesterday’s Sev’n Thousand Years</i>.GrueBleennoreply@blogger.com