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April 21, 2014

Andrew Silow-Carroll: Passoverkill? Suggestions to make next year's seders even more culturally sensitive

Sara Israelsen Hartley: Seeking the Divine: An ancient connection in a new context

Christine M. Flowers: Priest's execution in Syria should be call to action

Courtnie Erickson: How to help kids accept the poor decisions of others

Lizette Borreli: A Glass Of Milk A Day Keeps Knee Arthritis At Bay

Lizette Borreli: 5 Health Conditions Your Breath Knows Before You Do

The Kosher Gourmet by Betty Rosbottom Coconut Walnut Bars' golden brown morsels are a beautifully balanced delectable delight

April 18, 2014

Rabbi Yonason Goldson: Clarifying one of the greatest philosophical conundrums in theology

Caroline B. Glick: The disappearance of US will

Megan Wallgren: 10 things I've learned from my teenagers

Lizette Borreli: Green Tea Boosts Brain Power, May Help Treat Dementia

John Ericson: Trying hard to be 'positive' but never succeeding? Blame Your Brain

The Kosher Gourmet by Julie Rothman Almondy, flourless torta del re (Italian king's cake), has royal roots, is simple to make, . . . but devour it because it's simply delicious

April 14, 2014

Rabbi Dr Naftali Brawer: Passover frees us from the tyranny of time

Greg Crosby: Passing Over Religion

Eric Schulzke: First degree: How America really recovered from a murder epidemic

Georgia Lee: When love is not enough: Teaching your kids about the realities of adult relationships

Cameron Huddleston: Freebies for Your Lawn and Garden

Gordon Pape: How you can tell if your financial adviser is setting you up for potential ruin

Dana Dovey: Up to 500,000 people die each year from hepatitis C-related liver disease. New Treatment Has Over 90% Success Rate

Justin Caba: Eating Watermelon Can Help Control High Blood Pressure

The Kosher Gourmet by Joshua E. London and Lou Marmon Don't dare pass over these Pesach picks for Manischewitz!

April 11, 2014

Rabbi Hillel Goldberg: Silence is much more than golden

Caroline B. Glick: Forgetting freedom at Passover

Susan Swann: How to value a child for who he is, not just what he does

Cameron Huddleston: 7 Financial Tasks You Should Tackle Right Now

Sandra Block and Lisa Gerstner: How to Profit From Your Passion

Susan Scutti: A Simple Blood Test Might Soon Diagnose Cancer

Chris Weller: Have A Slow Metabolism? Let Science Speed It Up For You

The Kosher Gourmet by Diane Rossen Worthington Whitefish Terrine: A French take on gefilte fish

April 9, 2014

Jonathan Tobin: Why Did Kerry Lie About Israeli Blame?

Samuel G. Freedman: A resolution 70 years later for a father's unsettling legacy of ashes from Dachau

Jessica Ivins: A resolution 70 years later for a father's unsettling legacy of ashes from Dachau

Kim Giles: Asking for help is not weakness

Kathy Kristof and Barbara Hoch Marcus: 7 Great Growth Israeli Stocks

Matthew Mientka: How Beans, Peas, And Chickpeas Cleanse Bad Cholesterol and Lowers Risk of Heart Disease

Sabrina Bachai: 5 At-Home Treatments For Headaches

The Kosher Gourmet by Daniel Neman Have yourself a matzo ball: The secrets bubby never told you and recipes she could have never imagined

April 8, 2014

Lori Nawyn: At Your Wit's End and Back: Finding Peace

Susan B. Garland and Rachel L. Sheedy: Strategies Married Couples Can Use to Boost Benefits

David Muhlbaum: Smart Tax Deductions Non-Itemizers Can Claim

Jill Weisenberger, M.S., R.D.N., C.D.E : Before You Lose Your Mental Edge

Dana Dovey: Coffee Drinkers Rejoice! Your Cup Of Joe Can Prevent Death From Liver Disease

Chris Weller: Electric 'Thinking Cap' Puts Your Brain Power Into High Gear

The Kosher Gourmet by Marlene Parrish A gift of hazelnuts keeps giving --- for a variety of nutty recipes: Entree, side, soup, dessert

April 4, 2014

Rabbi David Gutterman: The Word for Nothing Means Everything

Charles Krauthammer: Kerry's folly, Chapter 3

Amy Peterson: A life of love: How to build lasting relationships with your children

John Ericson: Older Women: Save Your Heart, Prevent Stroke Don't Drink Diet

John Ericson: Why 50 million Americans will still have spring allergies after taking meds

Cameron Huddleston: Best and Worst Buys of April 2014

Stacy Rapacon: Great Mutual Funds for Young Investors

Sarah Boesveld: Teacher keeps promise to mail thousands of former students letters written by their past selves

The Kosher Gourmet by Sharon Thompson Anyone can make a salad, you say. But can they make a great salad? (SECRETS, TESTED TECHNIQUES + 4 RECIPES, INCLUDING DRESSINGS)

April 2, 2014

Paul Greenberg: Death and joy in the spring

Dan Barry: Should South Carolina Jews be forced to maintain this chimney built by Germans serving the Nazis?

Mayra Bitsko: Save me! An alien took over my child's personality

Frank Clayton: Get happy: 20 scientifically proven happiness activities

Susan Scutti: It's Genetic! Obesity and the 'Carb Breakdown' Gene

Lecia Bushak: Why Hand Sanitizer May Actually Harm Your Health

Stacy Rapacon: Great Funds You Can Own for $500 or Less

Cameron Huddleston: 7 Ways to Save on Home Decor

The Kosher Gourmet by Steve Petusevsky Exploring ingredients as edible-stuffed containers (TWO RECIPES + TIPS & TECHINQUES)

Jewish World Review July 22, 2013/ 15 Menachem-Av, 5773

Conjuring Up Animal Spirits

By Paul Johnson





http://www.JewishWorldReview.com | The present world recession is five years old and is on course to become the longest in history. It's worth remembering that the 1930s slump, which lasted ten years, was ended only by World War II.

At present, thank G0D, there's no world war in sight. Indeed, there has now been general peace among the great powers for 68 years-something unprecedented and for which we must thank the fear of nuclear weapons.

However, long periods of recession, which tend to be self-perpetuating, are usually ended by war, or by preparations for it. Nazi Germany in the 1930s ended mass unemployment chiefly by reintroducing military conscription. Britain's economy was perked up only by military-related new technology, such as radar and airplane engines. By the early 1940s World War II had helped pull the U.S. out of the Depression, but Wall Street wouldn't again reach its pre-1929-crash levels until 1954.

This time there won't be any re-armament to stimulate the world economy, as most major powers are cutting their arms budgets drastically. Nobody really knows how to get things humming again, because nobody knows what it is that makes them hum in the first place. John Maynard Keynes came closest to it with his vague phrase "animal spirits." A capitalist economy hums when leading businessmen are bubbling with animal spirits and are prepared to sink their money into risky ventures.



Sadly, the world today is a place in which animal spirits are frowned upon. It would be difficult to imagine anywhere less conducive to the concept than Brussels, from which the economies of nearly 30 nations are directed, or misdirected. It is the first bureaucratic megalopolis, and its bureaucrats look after themselves generously, having just gobbled up salary raises well in excess of the rate of inflation. But these people spend their loot discreetly; otherwise, they wouldn't last long. Meanwhile, their aim is to make businessmen feel unhappy.

Their latest move is to cap bankers' bonuses. But the compulsory limits on what people can earn in big business, sure to be followed by similar moves all the way down the food chain, will lower spirits and make entrepreneurs keep their heads down.

In fact, big spenders all over the world, not just in Brussels, are being bullied. The media spot one or two and hugely magnify their iniquity. Politicians then take up the cries of outrage, and before long their parties are competing to come up with punitive legislation. In deed, "punish the rich" is now the chief motivating force in political activity all over the globe. One finds recent examples of it in Australia, Argentina, South Africa and Chile. In China big spending, when it peeps through the curtains of censorship, is taken as a sign of corruption. It is rampant in Russia, where it's identified with the "oligarchs"-though the biggest spenders of all, Vladimir Putin and his family, are protected by state oppression of the media.

Adding to this mournful atmosphere is the current low-quality crop of world leaders. Mr. Obama would be a disheartening President even during a superboom, with his grim demeanor and empty rhetoric, as well as his obvious hatred of business bravado. Germany's Angela Merkel exudes an atmosphere of elderly exhaustion and pooped-out pessimism. Britain's David Cameron, though by nature exuberant, feels he has to look and sound glum. And France's leader, Francois Hollande, seems determined to drive every successful businessman out of the country.

Canada has a good, business-welcoming prime minister; Australia has an excellent leader of the opposition, who will shortly be running the country; and Hungary has a strongly procapitalist regime. But these three countries are, by world standards, on the small side and aren't capable of changing the economic climate.

The only figure with the slightest chance of doing this is the splendidly ebullient mayor of London, Boris Johnson. The most gifted and natural British politician since Lloyd George, Johnson may well displace Cameron as leader of the Conservative Party. If he manages that, animal spirits will once again be back in fashion.

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Previously:


07/16/13: United Europe --- Bad Idea?
07/09/13: A Lesson For Rogue States
02/27/13: For true democracy, bring back ostracism
02/19/13: The age of achievement: Doctors say it's all downhill from 45. History suggests otherwise
01/08/13: Peering Into the Abyss
11/27/12: Men Blinded by Their Brains
10/24/12: The World's Most Unlovable Man
07/17/12: Make the Euro A Joking Matter
04/17/12: Silent witness
03/13/12: To pick an American President
12/13/11: American Culture Rides High
10/20/11: Who Can Lead Us To Safety?
08/23/11: Wanted: Global Role Models

07/05/11: Debt: A Moral Issue

06/08/11: The Moral Logic of Intervention
03/10/11: China's Secret Weakness: Is history repeating itself?
02/10/11: Assessing America's Foes
11/29/10: Wanted: Someone to Trust
10/19/10: Are Universities Worth It?
06/01/10: The English Language and Freedom
04/20/10: Listening and Telling the Truth
02/28/10: There Is No Keynesian Miracle
10/20/09: A Job Waiting for a Woman?
07/21/09: Obama Has to Be World Sheriff
03/24/09: Short works of genius that cheer up the writing profession
02/11/09: What would Darwin do?
01/27/09: Are you sophisticated? Here's how to find out
01/06/09: What did they talk about in the Ice Age? The weather, of course
09/09/08: Time, and our appalling ignorance of it
08/19/08: Eye-stopping glimpses of an exotic and forbidden world
06/30/08: How to fill a lecture hall, and how to empty it
06/23/08: Americans should count their blessings
05/20/08: Pajamas for Presidents
05/13/08: Literary woodlice boring needless holes in biographical bedposts
04/01/08: When markets come crashing down, send for the man with the big red nose
04/01/08: Quality for dinner. Pass the Fairy Liquid, Old Boy
03/25/08: In search of an American President with brains and guts
03/18/08: Technological warfare against mice won't work. Try cats
03/11/08: What is a genius? We use the word frequently but surely, to guard its meaning, we should bestow it seldom
03/03/08: Fiction as a crutch to get one through life
02/26/08: Impatience + Greed = Trouble
02/13/08: Shakespeare, Neo-Platonism and Princess Diana
02/07/08: Where Industry Has Failed Us
12/19/07: People who put their trust in human power delude themselves
12/12/07: What is aggression?
12/04/07: Pursuing success is not enough
11/07/07: Are famous writers accident-prone?
10/31/07: Courage needed to disarm Iran
09/20/07: Who Will Say ‘I Promise to Lay Off’?
07/24/07: Greed is safer than power-seeking
04/02/07: Benefactors must be hardheaded
03/07/07: American idealism and realpolitik
11/28/06: Space: Our ticket to survival
10/24/06: Envy is bad economics
10/11/06: Better to Borrow or Lend? Rethinking conventional wisdom
08/22/06: Don't practice legal terrorism
08/08/06: A summer rhapsody for a pedal-bike
08/03/06: Why is there no workable philosophy of music?
07/11/06: Historically speaking, energy crisis is America's opportunity
07/06/06: The misleading dimensions of persons and lives
06/06/06: First editions are not gold
05/23/06: A downright ugly man need never despair of attracting women, even pretty ones
04/25/06: Was Washington right about political parties?
04/12/06: Let's Have More Babies!
04/05/06: For the love of trains
03/29/06: Lincoln and the Compensation Culture
03/22/06: Bottle-beauties and the globalised blond beast
03/15/06: Europe's utopian hangover
03/08/06: Kindly write on only one side of the paper
02/28/06: Creators versus critics
02/21/06: The Rhino Principle

© 2009, Paul Johnson

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