Wage-price spirals, NATO's Eastern front & the brains behind the bombers.
Great reading, links and images from Chartbook Newsletter by Adam Tooze
Trying to Make a Dollar, 1993 by Adrian Wiszniewski.
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Wage price spirals
If you’ve been worrying about an escalating spiral of inflation and wages like in the 1970s I strongly recommend a read of the latest IMF World Economic Outlook that you can download here. The short version: true spirals of sustained wage and price increases are VERY rare.
Not only do nominal wages generally lag, but in the US right now there is not even much evidence for the seemingly intuitive idea that wage cost push feeds through to prices.
Agricultural Subsidy Regimes
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Infrastructure at risk
In 2020, 87 per cent of the global electricity generated from thermal, nuclear and hydroelectric systems directly depended on water availability, the WMO said, but some of the facilities are located in areas that were experiencing water stress.
Source: FT
Collectables left in the dust
“For all the buzz over collectable asset classes, it is easy to forget that over the past decade the S&P outperformed them by miles — even after its recent decline.”
Source: FT
NATO’s Eastern Front
That battle group in Latvia under Canadian command is quite something!
The NATO units stiffen and add capacity to numerically far larger local forces.
h/t @JustinH40301483
““Taken on faith”: Expertise in aerial warfare and the democratic “West” in the 20th-century”, Sophia Dafinger of the University of Augusburg
The world wars, especially the Second World War, became signifi cant for the social sciences in this respect primarily because they heralded a new form of aerial warfare, in which the civil societies of the belligerent powers were included as participants in the war
Interesting paper this that can be downloaded here.
Big Science: The efficient deployment of numerous field teams had to be planned precisely. Bentley Historical Library, University of Michigan, Rensis Likert Personal Papers, Box 27, Folder “Morale Division Work in Japan 1945.
Figure 7. Turning a narrative into numbers: The USSBS Morale Division worked on the coding of answers gained in interviews on Germans and Japanese bombed by the American airforce. NA, RG 243, Records of the Office of the Chairman. Miscellaneous Records, 1940-47, Box 2.
23 shades of blue
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Last Call at the Hotel Imperial
Deborah Cohen and I had such fun doing this, with nearest and dearest there to enjoy the discussion.
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Auguste Préault (1809-1879), Le silence, 1842-43
One of the great 19th century sculptors and a member of the Romanticism Movement, Antoine-Augustin Preault (known as Auguste) was politically outspoken during his time, which resulted in his work being largely overshadowed by his contemporaries. Although sculpture was generally seen as the art least suited to romanticism, Preault seems to have deliberately challenged this view by attempting the expression of intense personal emotion in the form of relief sculpture.
Source: Visual Arts Cork
Source: Wikimedia