The greatest good you can do for another
RWL #444
Greetings from The University of New Hampshire![i] Why am I showing you a picture of a window looking out into the backyard of the LHH? Partly because it’s green, and if you look closely enough, you can see the line of daffodils on the left and at the edge of the yard. But that’s not the main reason. What’s the main reason? The window is open! Yes, friends, TLW and I ate dinner tonight with an open window!
You have to appreciate the small things.
On the topic of small things, I came across this small quote earlier this week and I wanted to share it with you:
"The greatest good you can do for another is not just to share your riches, but to reveal to him his own." - Benjamin Disraeli
Generosity is a virtue. Sharing your riches is virtuous, especially if you do so in a way that helps someone become a better version of themselves. I like that he says, “not just to share”, because he implies you should do that, too. This isn’t an excuse to eschew charity. I feel this encapsulates Smith’s Distributive Justice principle – to make a becoming use of one’s own. We all have gifts – some of them are financial resources, some of them are skills and abilities, some are to just be humane. In other words, we all have some riches that we can share. I clipped Kevin talking about teaching jiu-jitsu for the beginning of his podcast, and he says, “I try to give everyone I’m teaching a class in a little bit of love…” People in desperate need will of course appreciate a gift, as will any of us if it is given in good faith, but no one wants to live in dependency. Dependency inevitably leads to shame, and shame leads to social dysfunction. So go out and love, but also help people become lovely. (that’s a paraphrase from Smith – see the Distributive Justice post)
OK – to the links. As usual, willing good for all of you!
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Read
What: AEI, The Fallacy of Futility: Is Ukraine Justified in Fighting a War It Cannot Win?
Why: This article offers a brief discussion of just war theory, and then explains why Ukraine should not necessarily surrender. From the article:
“According to traditional just war theory principles of jus ad bellum (justified resort to war), fighting is morally permitted only when there is reasonable probability of success and when harm caused by war would be proportionate to the good ends achieved. When the cost in human lives and livelihood is disproportionate to the expected—failed—outcome, one should cease fighting, as Ukraine is exhorted to do.”
She then goes on to explain why this does not apply. Interesting for the just war principles and the analysis.
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Watch
What: The Center for American Culture and Idea, Soybeans into cars (~ 2 min)
https://www.facebook.com/reel/1198095421976166
Why: The economist Antony Davies talks about how to make cars – by buying the intermediate parts and building them, or by trading soybeans for them. Short but on-target.
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Listen
What: Top Traders Unplugged, Hate the Game? How to Navigate Life's Economic Challenges (53 min)
(link)
Why: The guest is Daryl Fairweather, Chief Economist at Redfin, the online real estate company. She has written a book "Hate the Game” in which she “shares insights on using economic principles to tackle everyday challenges, from negotiating salaries to understanding workplace dynamics.” I haven’t read the book, but the conversation was a fun romp through applied economics ala Freakonomics. She had some interesting comments on property taxes (tax land, not improvements), as well as applying for and negotiating salary for a job, among other things.
[i] It occurred to me, after nearly 10 years of writing this newsletter, that when I write my “greetings from UNH" that people might think I am speaking on behalf of the institution. That is very funny. I’m not sure that the UNH president could pick me out in a line up. So please understand that all opinions expressed here are my own, and do not represent the institutional positions of UNH. It’s akin to me writing, Greetings from America! And someone saying I am writing on behalf of the US government. As much as I might want it to be so, no one of reasonable judgement is going to believe it to be so.