Monday, October 17, 2011
Franklin's Progressive Religious Vision
Wednesday, September 21, 2011
A Basic Understanding of Credit Goes a Long Way
Ben Franklin’s Advice to a Young Tradesman may seem trivial to anyone who has the most basic understanding of financial or economic theory. Amazingly, if more of the current generation were to read and heed its message, our society would not be in the precarious condition we are. The counsel is simple: be fiscally responsible. Unfortunately American (not to mention European) households, businesses, and even our Federal Government have neglected to do so. For too long people have abused access to credit to live beyond their means, building up incredible amounts of debt that they cannot pay off.
Franklin wrote “Money is of a prolific generating Nature. Money can beget money, and its Offspring can beget more, and so on”. Possessing money has benefits beyond its current value as investing in anything from a capital that can increase business revenue, pay off immediate debts to free up cash to continue operations or loan out at a higher rate can yield a net profit. However, if loans are not used properly, the reverse is true. Debt naturally accrues over time if not reinvested, and the amount owed will increase.
Over time, especially in recent generations, credit markets have developed with modern markets. It has allowed small businesses to be established and families to buy homes without immediate cash because their future income streams will provide the necessary funds to cover the cost. In many senses it has vastly increased the current standard of living, but if the recent recession has demonstrated anything it is the danger of our inability to properly plan for the future. Families bought homes they would never be able to pay for because of adjustable rate mortgages they did not understand, governments have promised benefits to satisfy the current generation without regard to the cost it would have on the future to engender present political support, and creditors stood to gain on mounting interest payments. They never perceived of an inability to collect because newer loans could be obtained to pay current obligations. When credit froze, the whole system nearly shut down. The basic concept had been forgotten and institutions became over-extended. We became lazy, assuming that because we could obtain money, we were obtaining wealth when all we were really obtaining was insurmountable debt. The attitude that “The Way to Wealth…depends chiefly on two Words, INDUSTRY and FRUGALITY” was ignored. Spending grew, savings became negative, and rather than wasting “neither Time nor Money”, huge populations did both. Franklin’s message needs to be circulated once again for its simplicity and value to rekindle the fundamental necessities of hard-work and industrious nature as the proper qualities of wealth accumulation.
Tuesday, September 20, 2011
Back to Basics
Every morning, I wake up to a newspaper article detailing the dire economic environment we all live in. This morning, I learned that Standard & Poor’s had downgraded Italy’s credit rating. This morning, I read an article that outlined the reasons Greece should simply default on its debt rather than continue to receive aid packages from members of the Eurozone and the United States. This morning, I learned that an online poker site was actually a Ponzi Scheme that robbed its loyal customers of more than $440 million. This morning, the International Monetary Fund cut its forecast for global growth to a measly four percent in its flagship report, the “World Economic Outlook.” In that same report, the IMF warned that the United States and many European economies are on track to have a “lost decade” like the one Japan’s economy experienced in the 1990s. This means that there is a chance that one decade of my life as an American citizen will be considered a wash; an era devoid of progress. Today, money is more complicated than ever before. Perhaps this is why I found Franklin’s two pieces, “Advice to a Young Tradesman, Written by an Old One” and “Rules Proper to be Observed in Trade” so refreshing, yet simultaneously so disheartening. Money was so simple back then! Franklin writes, “Remember that CREDIT is Money,” (p. 320). If banks had printed this line in bold letters at the top of every mortgage contract that was issued before 2007, perhaps people would have thought twice about taking loans to purchase homes they could never afford to own. On the next page, he asserts, “Waste neither Time nor Money, but make the best Use of both. He that gets all he can honestly, and saves all he gets (necessary Expences excepted) will certainly become RICH,” (p. 321-2). As far as I can tell, never before in human history has this sentiment been so widely disregarded as it is today. Of course, the majority of Americans earn honest livings and practice frugality when they can, but that’s certainly not what the newspapers remind us of each morning. Instead, we are bombarded by stories about the seemingly rampant dishonesty in business today. I don’t think Franklin could have ever dreamed that one day, long after he was gone, the nature and culture of money would become so convoluted. Economists, whose job it is to study the history of financial markets and to forecast the economic future of America, don’t truly know how to fix the mess we’re in. Yet, when broken down in Franklin’s pieces, the same basic rules still apply. I don’t know if we will be able to avoid a “lost decade,” but getting back to basics certainly couldn’t hurt.
Wednesday, September 14, 2011
Proper Law and Order
Another particularly interesting aspect is how Franklin uses his story. This is something not just in this instance, but in Franklin's work as a whole. The use of fictitious stories to illustrate his point is an example of the change in mediation of the time. Rather than just give his argument in philosophical terms, he uses a story that the people can relate to, and tries to guide them in the story to the point where they should end. In this case, to the point where they would realize the injustice of this law.
Tuesday, September 13, 2011
An Exercise in Virtue, and Persuasion!
Franklin's short essay, "Self-Denial Not the Essence of Virtue" is a wonderfully interesting piece on the roots of virtue in men and itself an exercise in persuasion. His argument presents an initial claim; dissects it, finding it to be false; then presents a modified version of the original claim, which he comes to accept. But how convinced are we by his reasoning?
His first model is as follows: "without Self-Denial there is no Virtue, and that the greater the Self-Denial the greater the Virtue" (242). Through example he reasons that by this logic, that we check our temptation to vice through the practice of the contrary virtue. But, in the long term, this diminishes the force of the temptation, and one would have to return to his vices in order to be virtuous. I'm not sure this argument is entirely convincing. Franklin doesn't explicitly define the practice of virtue, if one cannot practice it anymore, is he not just living the virtue?
His second model replaces virtue with merit, thus any act of Self-Denial deserves merit & praise. This seems to more aptly fit his claims, though he still draws heavily on examples, like this instance of Honesty: "If you were to employ Servants in Affairs of Trust, would you not bid more for one you know was naturally honest, than for one naturally roguish, but who had lately acted honestly" (243). Honesty is a virtue Franklin holds high, yet what about all the people he lied to creating the Silence Dogood pseudonym? Does his intention come into play here?
He concludes that Virtue is Virtue, with or without context; and because virtue is merit-based, it is absolute. It doesn't matter if your nature predisposes you to virtuous undertakings, or if the merits of virtue are "practis'd with or against our inclinations" (244). Franklin also decides that self denial has no inherent goodness or wickedness, only as it is used. But what struck me were his final remarks: "And he who does a foolish, indecent or wicked Thing, meerly because 'tis contrary to his Inclination, […] is not practising the reasonable Science of Virtue, but is a lunatick" (244). I believe Franklin to be of good virtue, but would he then consider the act of writing the Silence Dogood letter one of a lunatic? Or would Franklin consider that the virtue of the results of his deceit justify the means?
Monday, September 12, 2011
Appropriate Action
In his "Self-Denial Not the Essence of Virtue" Franklin breaks down the argument that self-denial is indeed the essence of virtue. He offers situations in which self-denial, as he puts it, would actually bring us closer to vice until we have "no Virtue at all". He corrects the statement to say that self-denial is instead the virtue of merit (or praise), but then immediately breaks that argument down, stating that if one does good simply out of a natural benevolence, then self-denial is not worthy of merit, but rather, as he puts at the end, "he who does a foolish, wicked or indecent Thing, meerly because 'tis contrary to his Inclination...is lunatick". What Franklin argues is that any good action is worthy of equal merit regardless of whether it was done in spite of one's natural inclination or because of it.
I would agree with Franklin that any good act is worthy of praise, but what struck me about Franklin's argument is that it draws comparison to Hutcheson's work as well. That is, it implies that we have the moral sense Hutcheson speaks of. In order know whether or not to act in accordance to or against our "natural inclination" would mean knowing right from wrong. If we know our natural inclination is wrong, we should act against it; if we know it is right, we should act in accordance to it. Regardless of this, I think Franklin makes a convincing argument in saying self-denial is not the essence of virtue, and is not even always the essence of merit.
Thursday, September 8, 2011
The Effect of Bias on the Printing Press
Apology for Printers provides a glimpse into what a hub of information Ben Franklin became during the enlightenment. He uses a humorous tone to dispel the many misconceptions his readers have about how he operates his newspaper, something he jokes warrants an annual reminder as authors and readers alike are quick to displace feelings onto the middleman, the printer. Besides explaining the inherent nature of opposing opinions in the printing business, Franklin touches on Kant’s idea of public vs. private. Any other trade at the time involves a separation between the two that allows for transactions between “people of all persuasions.” The printer does not have that luxury however because his business is the business of opinions, providing the nexus of the enlightenment: public discourse.
We know Franklin retains his ability to express private opinions through the use of pseudonyms, but what about the freedom to print anything in his paper? As Franklin writes in another article, “it is a bad thing to have a bad name” because it taints a reader’s perception for all subsequent publications. For example, many Americans today shy away from Fox News because they believe it publishes with a wildly conservative slant that makes stories seem entirely different than if they were broadcast on their preferred network, such as CNN. Franklin maintains that he employs a “vast unconcernedness as to the right or wrong opinions” that he publishes because if printers took a stance, it would put an end to free writing. On the other hand however, he continues: “printers do continually discourage the printing of great numbers of bad things, and stifle them in the birth.” As usual, (and fittingly for a printer), Franklin does not take a firm stance on the issue, but presents both sides and still leads his reader to conclusions. A certain conclusion here is that the extent to which the printer filters his paper and the reader narrows his sources of information limits or expands the enlightenment process for the individual, because a narrow window of information blocks out a lot of debate.
Wednesday, September 7, 2011
Only God Can Judge Me (I Don't Need a Jury)
I found Franklin’s work, “A Dissertation on Liberty and Necessity, Pleasure, and Pain” quite compelling. Written almost 300 years ago, the ideas that Franklin illustrates in the piece certainly hold weight in our current discussion of understanding “the general State of Things in the Universe” (57). The battle between good and evil amongst mankind, the ideas of free-will and desire, and the connection between pleasure and pain, are all discussed.
The idea that if God is all-powerful, and that if he is good and wise, is juxtaposed with the idea that nothing evil in the world would be able to exist if these were the true characteristics of the almighty. Essentially, “there is nothing done in the universe…but what God either does, or permits to be done” (58). This assertion by Franklin brings up many powerful and definitely personal questions regarding one’s religious beliefs. Religion is of course a very touchy topic in conversation, so to assert an idea that bad things can’t exist if we presume that a God also exists thus means that God does not exist (since bad things do obviously happen). I find that challenging ideas of religion (such as the existence of God, etc.) at this time is the epitome of what the Enlightenment stood for. The time period consisted of many intelligent individuals challenging the status quo of beliefs and presuming that maybe there were others ways to view the world and what occurred within it.
Another interesting idea Franklin brings up is that of the relationship between pleasure and pain. He states that, “the Sensation of Pleasure is equal, or in exact proportion to the Sensation of Pain” (65). I find this idea very intriguing as one often does not think about the relationship between these two sensations. For example, often we must feel some sort of pain to feel some sort of pleasure within our lives. As Franklin believed, the highest form of pleasure was that of the freedom of all pain. This seems right on point for if we had absolutely no pain in our lives (i.e. no physical hurt, no emotional hurt, no mental anxiety) then our existence would essentially be that of a constant state of euphoria and happiness. I'm not quite sure how Franklin's discussion of pleasure and pain ties into his views on religion besides maybe God being the almighty controller of the universe? However, both ideas certainly challenged views held during the Enlightenment period and spark debate.
Franklin- dishing out what he can't take in return
Franklin's Self Promotion
Ben Franklin’s sardonic jape at the arrogance of men in Rules for Making Oneself a Disagreeable Companion certainly speaks to every college age student. Everyone knows one of their peers who simply MUST bring themselves to the forefront of any conversation, or assert their own story as absolutely paramount to anyone else’s. As Jon noted in his post, this flows from a sense of competition that people feel every day, and individuals with such egotistical tendencies see such self-promotion as the surest way to affirm their ‘superiority’. While it seems trivial and immature to act in such a way, such competitiveness is what drives us in all our endeavors. Franklin elaborates on this idea in his discussion on Pleasure and Pain, saying “as fast as we have excluded one Uneasiness another appears, otherwise the Motion would cease”. Preserving one’s own pleasure by avoiding pain is at the essence of every action, and pleasure is derived in one’s own relation to those around them. As the two have a natural balance within each person, would it not follow that they have a natural balance within society? One man’s pleasure must then come at another’s expense, before the tides are returned in another interaction such that each man’s net pain is equal to his pleasure.
This insight of Franklin’s came back to me when reading his Apology for Printers and Printer’s Errors, which both seemed to be a defense of Franklin’s individual value. Errors may be easier to connect with the arrogance described in Rules for Making Oneself a Disagreeable Companion, in that he chose to publish a letter that flaunts the fact that his paper “is most commonly very correct, and yet you were never known to triumph upon it, by publickly ridiculing and exposing the continual blunders of your Contemporary”. In fact, that is exactly what he is doing, just through another voice. By letting another verbalize the criticism of those around him, he is elevating himself both by publicizing his competitor’s mistakes while marinating a false air of dignity. Thus his own pleasure gained from this letter being read not only personally, but by all those who read his paper comes at the cost of pain to those other publishers whom the author compared to Franklin.
Likewise, Franklin’s defense in his Apology for Printers that “Printers naturally acquire a vast Unconcernedness as to the right or wrong opinions contain’d in what they print” ignores the fact that he above all stands to gain from what is, and what is not printed. He makes himself out to be a simple servant, but when every action (undoubtedly his profession being a continual string of such actions) is inherently one of pursuing pleasure, how can he feign such selflessness? As he himself asked, “how can any Action be meritorious of Praise or Dispraise, Reward or Punishment, when the natural principle of Self-Love is the only and the irresistible Motive to it?” How are his actions any better than that annoying self promoter he mocked in Rules for Making Oneself a Disagreeable Companion?
Thursday, September 1, 2011
Une langue étrangère ne fait pas mon message meilleure
In his text on Franklin and the Enlightenment, Frank Kelleter dispels the common myth that the enlightenment marked a period of new, shared beliefs and theories. The Age of Reason, the other main term used to refer to the enlightenment, seems to be a more accurate name for the time, as Kelleter argues that the faculty of reason was what united enlightenment thinkers. He explains the critical, democratic, and constructive aspects of reason that still hold true today. Based on John Locke’s principle, that we have no certain knowledge, reason becomes critical to free the mind from doctrines that others impose as ‘the truth’, since we are not born with a truth. Though Kelleter does not mention tabula rasa, Locke’s idea that we are born without any inherent knowledge, it forms the basis of his argument against accepting the beliefs of others as valid due to commonality.
Enlightenment thinkers also believed it their responsibility to eliminate falsely established beliefs and even speak out against institutions that perpetuate them. Interestingly, having more skillsets, such as a foreign language or strong rhetoric, does not make the person more reasonable, but rather more powerful, lending credence to the old adage that knowledge is power. Ben Franklin warns however that knowledge could simply disguise nonsense to thwart reason. Thus, every man, regardless of economic/educational standing was capable of enlightened thought by using reason’ reason is democratic because it is accessible by anyone. This principle explains how Descartes’ theory of planetary motion, despite being false, makes him a good enlightenment thinker because he exercised sound reason within a limited set of knowledge that he could not have exceeded at the time.
Finally, this system of enlightened reason is constructive because if everyone proves beliefs for themselves and disproves unsound or unreasonable beliefs, what has become known as the scientific method would apply to all facets of life to create a better society as a whole. Unfortunately, we will never quite reach that utopia because unreasonable people shall always exist.