Excavating the Little Rock

January 28, 2009

the-little-rock

HT Wall Street Journal

(Guest post by Greg Forster)

Continuing the Arkasas theme, the Wall Street Journal has a fascinating story today about the little rock for which Little Rock was named.

And continuing the theme of government spending, the story notes that $650,000 is about to be spent to excavate the remains of the original little rock for public display. $350,000 of the money was privately raised, the city is kicking in $100,000 from bonds, and the county is kicking in $200,000.

My more libertarian-leaning friends may scoff at that, but I’m for it. Even Adam Smith insisted that it’s important for government to spend money to “maintain the dignity of the state.” He meant all the lavish pomp that surrounds the king and Parliament, but this is the American equivalent of that – it’s affirming the role of our shared past (even in the form of a rock we dug up out of the mud of the Arkansas River) in the foundations of our nationhood.

UPDATE: Of course, it’s not my money, so it’s easy for me to support spending it.


Quantifying the Popcorn

January 23, 2009

scores-on-doors

(Guest post by Greg Forster)

No time to write a lengthy discussion of it (why did I waste all that time this morning composing a post on something as useless as education policy?) but don’t miss the fascinating article in today’s Wall Street Journal on the history of, and debates over the merits of, the practice of movie critics assigning stars, letter grades, or “thumbs” to movies as a quick and easily accessible, yet frustratingly reductive, indication of their judgment on a movie.

Among other things, the article asks some prominent movie critics to give a star ranking to the practice of ranking movies by stars. One gives the practice four stars (“It helps the reader, and it helps us”) while another gives it one and a half (“It’s not necessary to film criticism but it’s not something that undermines it”). Some people quoted in the article are actively hostile to the practice, though.

The article is by “The Numbers Guy,” Carl Bialik, who apparently has a blog under that title at the Journal‘s website. Who knew? On the blog he has a follow-up to the story with more quotes and tidbits, including one critic who complains that he doesn’t know how to give an accurate ranking to a movie that he hated, yet enjoyed watching for its awfulness:

“The toughest one for me was Gran Torino, which I think is a terrible film but nonetheless found immensely entertaining in its awfulness,” Las Vegas Weekly film critic Mike D’Angelo told me about his 100-point grading system on his personal Web site. “I wound up giving it 34/100, which includes like 20 bonus points for camp value.”


The Misunderstood Greatness of “Great” Books

November 11, 2008

great_books

(Guest post by Greg Forster)

Yesterday’s Wall Street Journal carried a review of Alex Beam’s new history of the great books movement, A Great Idea at the Time. The reviewer, Robert Landers, approvingly quotes Beam’s statement that he wanted his history of the GB movement to be “brief, engaging, and undidactic . . . as different from the ponderous and forbidding Great Books as it could be.”

The GB movement has touched all levels of post-primary education – secondary, collegiate, and “continuing” – and it has come in for a lot of criticism, some of it justified, particularly as regards the pomposity and the (really surprising) intellectual vacuity of Mortimer Adler. Much that was written about the Great Books by some of their most prominent self-appointed champions was indeed prolix, unengaging, and didactic.

With some shame, I confess that in my excitement about great ideas during my intellectual youth, I was suckered into paying $50 for Adler’s useless cinder block of a book, the “syntopicon.” Adler’s ambition was to create a reference that would point you to everything that the great thinkers had ever thought about each of a hundred “great ideas.” Alas, the real content of the Great Books failed to line up with Adler’s preconcieved notions about what constitues a great idea, and Adler failed to realize this; consequently the book is as useless as it is long. Fortunately, thanks to the miracle of the Internet, I was able to find another sucker willing to pay me $50 to take the embarrassing thing off my hands.

But anyone who thinks the Great Books themselves are prolix, unengaging, and didactic has obviously never read one – or if he has, all the more shame on him that he didn’t pay attention to what he read.

Indeed, the greatness of Great Books consists precisely in the authors’ gift for communicating large ideas in a clear, easily understood, engaging, and undidactic way so that everyone – everyone – can benefit from them. People think that the greatness of Great Books consists in the greatness of the ideas, but this is false. Any fool can write a book about great ideas, as Mortimer Adler proved so conclusively. What takes greatness is to write a book about a great idea that makes those ideas accissible and exciting to all readers.

The issue here really goes to the heart of how we understand education when it comes to ideas as opposed to skills (like reading and math). What is the best way for people who are not themselves great philosophers to learn about great ideas? For a long time the nation’s educators have set themselves up as a parasitical priesthood class, arguing that the ordinary person lacks the capacity to recieve these things directly from the sources; they need priests to interpret for them. The GB movement argued that the great philosophers themselves were much better teachers of ordinary people than the educational priests – that is precisely what makes them so great.

C.S. Lewis – who wrote extensively about the purpose, methods, and philosophy of education – put it very concisely in an introductory essay he wrote to be included in a new edition of an old book (Athanasius’s On the Incarnation), which was subsequently published separately under the title “On the Reading of Old Books”:

I have found as a tutor in English Literature that if the average student wants to find out something about Platonism, the very last thing he thinks of doing is to take a translation of Plato off the library shelf and read the Symposium. He would rather read some dreary modern book ten times as long, all about “isms” and influences and only once in twelve pages telling him what Plato actually said. The error is rather an amiable one, for it springs from humility. The student is half afraid to meet one of the great philosophers face to face. He feels himself inadequate and thinks he will not understand him.

But if he only knew, the great man, just because of his greatness, is much more intelligible than his modern commentator. The simplest student will be able to understand, if not all, yet a very great deal of what Plato said; but hardly anyone can understand some modern books on Platonism.

It has always therefore been one of my main endeavours as a teacher to persuade the young that firsthand knowledge is not only more worth acquiring than secondhand knowledge, but is usually much easier and more delightful to acquire.

The whole essay is well worth reading for anyone who wants to think about how great ideas are communicated to ordinary people who want to know about them.

And for those of a more quantitative bent, I can’t resist examining the one quantitative claim implied by Beam’s comment – that his book, unlike the Great Books, is “brief.”

The Journal lists Beam’s book at 245 pages. I went to my office shelf and took down all the books that could be considered Great, and checked the page numbers – excluding introductions, interpretive essays, appendixes and the like (some of which occupy hundreds of pages in the volumes I have). Where I had multiple editions I picked the edition that I used regularly. I suspect the selection may be biased toward longer works because the books I keep at work as opposed to what I keep at home for regular reading are probably longer. One could argue that the selection is biased in the other direction because some books are so long that I don’t even bother to own a hard copy, and access them electronically (e.g. Aquinas’s Summa Theologica and Calvin’s Institutes). But I would argue that those longer works are not really Great Books at all, but reference works. Aquinas and Calvin never meant for anyone to sit down and read their works cover to cover; the idea was to provide a useful reference so that if you need help with some specific problem, you know where to look it up. (They’re kind of like Adler’s syntopicon that way, except they’re actually useful.)

Here’s what I came up with:

Plato, Apology of Socrates: 21 pages

Locke, A Letter Concerning Toleration: 49 pages

Rousseau, Discourse on the Origin of Inequality: 97 pages

Rousseau, The Social Contract: 144 pages

Locke, The Reasonableness of Christianity: 195 pages

Locke, Two Treatises of Government: 240 pages

Treatment case: Alex Beam, A Great Idea at the Time: 245 pages

Aristotle, Ethics: 276 pages

Niebuhr, Moral Man and Immoral Society: 285 pages

Burke, Reflections on the Revolution in France: 292 pages

Plato, Republic: 300 pages

Aristotle, Politics: 425 pages

Rousseau, Emile or On Education: 447 pages

Hobbes, Leviathan: 482 pages

Hamilton, Madison & Jay, The Federalist Papers: 494 pages

Locke, Essay Concerning Human Understanding: 678 pages

Tocqueville, Democracy in America: 705 pages

Montesquieu, The Spirit of the Laws: 722 pages

Augustine, The City of God: 1,086 pages

So it does seem fair to say that Beam’s book is on the shorter end of the distribution – but the generalization that Great Books are not “brief” is patently false. And that’s before we even get into the qualitative dimension; the Apology is more or less the Original Great Book (the educational equivalent of an OG, if you will) and in length it barely rises to the level of a pamphlet.

Bottom line: before you complain about the GB movement, try picking up a Great Book and reading it.

UPDATE: See additional data and discussion in my follow-up post.


WSJ and Bloomberg Notice the Student Loan Crisis

April 24, 2008

(Guest post by Larry Bernstein)

The Wall Street Journal and Bloomberg have stories on the student loan crisis.  I presume the articles were in response to my post a couple of days ago.

This is typical. I think the WSJ editorial page gets the issue wrong.  The editors blame the current crisis on new Fed limits on the allowable credit spreads.  In addition, there is a mention of an idea to allow the Federal Reserve to accept student loans as collateral at the discount window. 

I don’t think either of these issues is critical.  The key point is that students are defaulting on their loans at a rate much higher than expected.  With higher default rates and worse than expected recoveries, the loans are worth less than par.  State Street, who had bought billions of securitized private student loans in the secondary market, admitted last week that they may need to take reserves equal to as much as 10% of par.

The current crisis is not a funding crisis, or an ability to use the loans as collateral for secured financing by banks.  The problem is a basic financial problem.  The borrowers are unwilling to pay the lenders back.  There are two typical responses to this sort of problem.  The first is to stop lending until we figure out what the likely default rates are going to be and if the business makes economic sense.  This is the current lender response to the increasing rates of default in the subprime residential market.  The second response is to lend, but at much higher interest rates to cover for the additional expected losses from defaults and to cover additional risks of even greater defaults.  The market is seeing both responses from lenders.

What should public policy be for student lending?  This is clearly complicated and depends on your view of the role of government.  Do you think that the federal government should lend directly to students at a below-market rate?  The answer depends on the public’s willingness to accept substantial losses on the loans.  The market price embodies the market’s view of defaults.  Today, the market is saying that the government will lose more than 10% of the loan size.  There are $70 billion of new federally guaranteed loans each year, and both Democratic presidential candidates want to expand the program.

What is the market failure that requires government action?  Why shouldn’t the interest rates on student loans reflect the risk of the loans?  If we let the market work, banks will demand additional collateral (from the parents) at various interest rates to reflect the individual risk of the borrower.  It cannot be that whenever credit spreads go up to reflect greater risk of defaults that the government needs to step in and lend money at a below-market rate.

(As an aside, the current plan to use the FHA to solve the nation’s residential mortgage crisis will most likely result in government losses in excess of the 1980s thrift crisis.  Sadly, many years from now, Congress will investigate how this could have happened.)


I Pity the Fool!

April 23, 2008

(Guest post by Greg Forster)

                                                                                                                                             George Clowes

Connoisseurs of the art of the smackdown will not want to miss the richly deserved spanking George Clowes administers to two representatives of the blob in the letters section of today’s Wall Street Journal.

Two public school teachers had written in to peddle the Myth of Helplessness*, blaming poor public school performance on what they called “inferior raw material,” i.e. low-income minority students.

Clowes pulls no punches. As the great school reformer Mr. T once said, “Allow me to introduce you to my good friend pain!

Enjoy.

*If you don’t know what the Myth of Helplessness is, for goodness’ sake move out of your mother’s basement and start hanging out with the cool kids.

(Edited to fix the quote from the teachers. The actual quote is even worse than what I had originally put!)