The recent computer outage reminded me of one of my favorite poems, Kipling's The Sons of Martha. It has been at times, I'm told, an anthem of engineers; maybe it should be more broadly.

The poem is a reference to a Bible passage from Luke 10:38-42. (The passage, it turns out, immediately follows the story of the Good Samaritan, which is triggered by question from a lawyer—but that's the end of any legal connection.) Indeed, I would say it's something of a criticism of the passage, which runs:

[38] … [Jesus] entered into a certain village: and a certain woman named Martha received him into her house.
[39] And she had a sister called Mary, which also sat at Jesus' feet, and heard his word.
[40] But Martha was cumbered about much serving, and came to him, and said, Lord, dost thou not care that my sister hath left me to serve alone? bid her therefore that she help me.
[41] And Jesus answered and said unto her, Martha, Martha, thou art careful [i.e., full of cares] and troubled about many things:
[42] But one thing is needful: and Mary hath chosen that good part, which shall not be taken away from her.

Here then is the Kipling poem; my favorite parts are the first two lines of each stanza (except the last), but of course you have to read it all:

The Sons of Mary seldom bother, for they have inherited that good part;
But the Sons of Martha favour their Mother of the careful soul and the troubled heart.
And because she lost her temper once, and because she was rude to the Lord her Guest,
Her Sons must wait upon Mary's Sons, world without end, reprieve, or rest.

It is their care in all the ages to take the buffet and cushion the shock.
It is their care that the gear engages; it is their care that the switches lock.
It is their care that the wheels run truly; it is their care to embark and entrain,
Tally, transport, and deliver duly the Sons of Mary by land and main.

They say to mountains "Be ye removèd." They say to the lesser floods "Be dry."
Under their rods are the rocks reprovèd—they are not afraid of that which is high.
Then do the hill-tops shake to the summit—then is the bed of the deep laid bare,
That the Sons of Mary may overcome it, pleasantly sleeping and unaware.

They finger Death at their gloves' end where they piece and repiece the living wires.
He rears against the gates they tend: they feed him hungry behind their fires.
Early at dawn, ere men see clear, they stumble into his terrible stall,
And hale him forth like a haltered steer, and goad and turn him till evenfall.

To these from birth is Belief forbidden; from these till death is Relief afar.
They are concerned with matters hidden—under the earthline their altars are—
The secret fountains to follow up, waters withdrawn to restore to the mouth,
And gather the floods as in a cup, and pour them again at a city's drouth.

They do not preach that their God will rouse them a little before the nuts work loose.
They do not preach that His Pity allows them to drop their job when they damn-well choose.
As in the thronged and the lighted ways, so in the dark and the desert they stand,
Wary and watchful all their days that their brethren's ways may be long in the land.

Raise ye the stone or cleave the wood to make a path more fair or flat;
Lo, it is black already with the blood some Son of Martha spilled for that!
Not as a ladder from earth to Heaven, not as a witness to any creed,
But simple service simply given to his own kind in their common need.

And the Sons of Mary smile and are blessèd—they know the Angels are on their side.
They know in them is the Grace confessèd, and for them are the Mercies multiplied.
They sit at the feet—they hear the Word—they see how truly the Promise runs.
They have cast their burden upon the Lord, and—the Lord He lays it on Martha's Sons!

We Sons of Mary—including in the secular sense, as people who are paid to opine and teach law and Think Deep Thoughts—indeed smile and are blessed; for us the Mercies are indeed multiplied. But it's worth remembering how much of that comes from the burden that Martha's Sons bear.

The post "It Is Their Care That the Gear Engages; It Is Their Care That the Switches Lock" appeared first on Reason.com.

NYTimes: Treasury officials say that they fear that elevated Chinese production targets are causing its firms to produce far more electric vehicles, batteries and solar panels than global markets can absorb, driving prices lower and disrupting production around the world. They fear that these spillovers will hurt businesses that are planning investments in the United States with tax credits and subsidies that were created through the Inflation Reduction Act of 2022, a law that is pumping more than $2 trillion into clean energy infrastructure.

Amazing that Yellen can say this with a straight face:

as an economist, it was her view that China could benefit if it stopped giving subsidies to firms that would fail without government support.

The post Your Subsidies are Undercutting My Subsidies! appeared first on Marginal REVOLUTION.

       

Comments

• In reply to RAD. > any had canceled its plans to build a more ... by PHinton
• wap diss-information X-spurt satire/not satire – the ... by the Spanish Inquisition Bill
• I don't see what the big fuss is. American politicians and ... by Shark Lasers
• In reply to OldCurmudgeon. I mean, there is currently a stock ... by M
• In reply to M. Not even a question, Leftist. by Reason
• Plus 10 more...

Related Stories

• What should I ask Joe Stiglitz?
• Lockean homesteading for goats, bonus added
• Algorithmic Collusion by Large Language Models

 

Here is a bit on privacy from Eric Hughes’s Cypherpunk’s Manifesto of 1993.

Privacy is necessary for an open society in the electronic age. Privacy is not secrecy. A private matter is something one doesn’t want the whole world to know, but a secret matter is something one doesn’t want anybody to know. Privacy is the power to selectively reveal oneself to the world.

…Since we desire privacy, we must ensure that each party to a transaction have knowledge only of that which is directly necessary for that transaction….In most cases personal identity is not salient. When I purchase a magazine at a store and hand cash to the clerk, there is no need to know who I am. When I ask my electronic mail provider to send and receive messages, my provider need not know to whom I am speaking or what I am saying or what others are saying to me; my provider only need know how to get the message there and how much I owe them in fees. When my identity is revealed by the underlying mechanism of the transaction, I have no privacy. I cannot here selectively reveal myself; I must always reveal myself.

Therefore, privacy in an open society requires anonymous transaction systems. Until now, cash has been the primary such system. An anonymous transaction system is not a secret transaction system. An anonymous system empowers individuals to reveal their identity when desired and only when desired; this is the essence of privacy.

I am saddened and dispirited by the evolving situation. Privacy is losing. Cash has nearly vanished without being replaced by cryptographically private alternatives. Instead, we rely on credit cards, debit cards, Venmo, PayPal, and other systems that log every transaction in vast databases.

Cash gave us substantial privacy by default because there was no technological alternative but there was never a collective vote for cash or, sadly, a consensus for privacy. You might hope that people would demand to keep the privacy rights they they once had but no. The populace seems indifferent to the erosion of privacy. Instead, paranoia about criminals hijacks the narrative. “What about the sex traffickers and terrorists?!” they shout. People seem more than willing to give up their privacy in exchange for a promise of security–false though the promise may be. Thus, we get ever more draconian regulations, effectively strangling our financial freedom. The $10,000 cash rule, for example, is insane, a reflection of Nixonian paranoia and not fit for a free society.

If you deposit or withdraw cash in excess of $10,000, your bank must fill out a currency transaction report (CTR) on a Department of the Treasury Financial Crimes Enforcement Network (FinCEN) Form 104. The person making the deposit or withdraw must provide identification to the bank, and the bank must report details of the transaction as well as the name, address, social security number, and birthdate of the person making the deposit or withdrawal. Multiple deposits made in one day must be added together and will trigger the reporting requirement if, combined, they exceed $10,000.

Bankers are also required to file suspicious transaction reports (STRs). Withdrawing or depositing amounts just under $10,000 often does not succeed in avoiding reports to the government, because STR’s have no dollar limit. A person who withdraws $8,000 three times in a week may trigger the filing of an STR, and that person will not be notified that the STR was filed. Banks are also directed to perform account audits to look for suspicious activity. If the banking activity is not consistent with the “customer’s profile,” banks are directed to file a suspicious activity report (SAR).

Reporting requirements are not limited to banks. Business are also required to report cash transactions over $10,000. Any business (including a sole proprietorship) that receives more than $10,000 in cash in a single transaction or in related transactions must file an IRS Form 8300. If a business or individual fails to file a Form 8300 when required, the business or individual can be fined. The penalty for intentionally disregarding the filing requirement is the greater of $25,000 or the amount of cash received in the transaction not to exceed $100,000.

Currency transaction reports and suspicious transaction reports, do they not sound like something the Stasi would demand in communist East Germany? A free people would throw off this outrageous transgression. But could we get rid of such rules today? Could we even index the rules to inflation? $10,000 in 1970, when the Bank Secrecy Act was passed, is about $80,000 today.

Privacy suffers from a collective action dilemma: individually it isn’t worth much and so we don’t defend it, but lack of privacy is immensely costly when lost en masse. Moreover, our data, en masse, is worth a lot to corporations and governments. Thus privacy has few defenders and strong attackers.

We are on technology path that by default leads to less and less financial privacy. Another path exists, a path on which technology safeguards our financial privacy, but that path must be chosen and time is running short.

The post The Erosion of Financial Privacy appeared first on Marginal REVOLUTION.

       

Comments

• Fanni Willis seemed to believe in cash by Paagal Swami
• In reply to Kaleberg. Ok, but I’d rather have that option ... by Oldcurmudgeon
• In reply to dearieme. That's why long COVID is so much more ... by Kaleberg
• In reply to Dino the Isaurian. Thank god for that. I'm ... by Kaleberg
• In reply to SpeculativeDiction. As others have pointed out ... by Kaleberg
• Plus 10 more...

 

The Washington Nationals made their promotion official with Eddie Longosz taking on the position of Vice President and Assistant General Manager of Player Development and Administration in an announcement by Nationals President of Baseball Operations and General Manager, Mike Rizzo.

With a wide ranging search that we reported on weeks ago was down to three candidates that included Longosz who was the lone internal candidate, Rizzo made the decision to promote him from his role as Washington’s director of scouting operations for the past eight years. Prior to that, the 37-year-old was the team’s assistant director of scouting. In his most recent role, the team said that Longosz assisted Rizzo on all aspects of Washington’s amateur, professional and international scouting operations.

Longosz is in his 14th year with the Nationals after joining the organization in 2010 after graduating from the University of Richmond. He became a full-time scouting assistant in 2011, a role he held for four seasons before being promoted to assistant director of scouting operations in 2015.

Another interesting fact is that Longosz is a Washington, D.C. local growing up in Great Falls, Virginia with his parents who are both lawyers. He graduated from the prestigious St. Albans School in Washington, D.C. and later graduated college at Richmond in 2009 with a degree in business administration with a concentration in finance. Per his LinkedIn, he is currently pursuing his MBA at NYU’s Stern School.

Longosz grew up playing baseball on travel teams in the area and continued playing baseball through high school and college. Baseball has always been a part of his life, and the Nats since 2005 as a fan of the team. It was a dream job getting a spot with the Nationals, and then marrying into a baseball family when he fell in love with a Nats’ intern, Natalie “Nat” Garagiola, and married in the turbulent offseason after the 2017 NLDS loss. While Natalie moved on from the Nats after dating Longosz, their joint love of baseball was themed into their wedding. The cocktail napkins read, “All you need is love and baseball #EddiesGotNatitude”.

Now while Garagiola might have become an intern with the Nats as a favor to her father, Joe Garagiola Jr., who happened to have been Rizzo’s boss 20 years ago in Arizona — Longosz got his job on his own. Some connecting of the dots might lead some to believe that nepotism is now in play here with Longosz getting this promotion. As we reached out to sources who know Longosz, one former Nats’ front office employee said Eddie earned this by his hard work and accomplishments.

Personally, I will remain in wait-and-see mode for results — just like I did with De Jon Watson and before him, Mark Scialabba. But not many want to wait and see. They will believe that this was about Rizzo’s love of his own internal hires. Maybe Longosz really was the best candidate. We will see. He has a lot of work ahead of him.

This is a results oriented business as we all are aware of. While Longosz was mostly on the scouting side, he worked on trade acquisitions and extensively on the amateur draft his year.

For Longosz, he has the ability to call his father-in-law for advice, and certainly Rizzo has been a mentor to him. Going forward, he has to build out his staff after several minor league coordinators were let go, as well as a minor league coaches. There really is no time to sit back and slowly assess the situation. There are some real issues in the system that included both Robert Hassell III and Elijah Green sliding downwards out of the Top-100 prospects rankings, as well as injuries to several top players in the system like LHP Jake Bennett and RHP Cade Cavalli.

Injury prevention and moving players forward are clearly the two main goals in player development. The team still boasts three top of the farm prospects in James Wood, Dylan Crews, and Brady House, and it will be Longosz’s job to make sure they are MLB stars when they get the call which will most likely be in 2024 if all goes well.

MLB Pipeline ranked the Nats’ farm system at №10 in March to go with Baseball America’s №7 ranking. The reason that Watson might be gone is because the team acquired Crews, Yohandy Morales, and Travis Sykora in the amateur draft and did not graduate one Top-15 prospect, yet the farm system slipped in Baseball America‘s rankings to №9.

Looking a few years into the future is like dreaming. Again, two years ago the Nats’ farm was ranked as one of the worst farm systems in MLB. Today, it is in the upper-third of all farm systems thanks to the haul received back in the Juan Soto trade and the top-heavy 2023 draft. While the draft has helped, the international signings have not produced much at all, and the team needs to hope they get something out of their expensive acquisitions of Armando Cruz and Cristhian Vaquero. There are enough team-controllable players and top prospects to fill every spot for the position players plus some backup bench spots in the year 2025.

“…Our objective we have is to win championships — not to be №1 in Baseball America.”

— Rizzo said to applause and laughs by the fans gathered at the Ballpark Bash event last year

Maybe Rizzo should order his rankings from the ala carte menu and take the best from each. Will he complain if next year the Nats are the №1 farm system? Doubtful. But chances are that Rizzo will be pulling top prospects up to the MLB roster in 2024, making it more difficult for Longosz to have a higher ranking. There is a chance that all three of the Nats’ Top-100 prospects will be playing in Washington in 2024 as well as Cavalli.

Last year was one of the few years you could compare apples to apples in the development system since no top prospects graduated. The Nats won’t have a Top-5 draft pick this year, and who knows when Bennett will be recovered from his TJ surgery. Longosz will need other prospects to step up big for this team with Hassell and Green under the magnifying glass.

With the team winning 71-games this year, next season could be a year to get into playoff contention. Longosz will get some credit for any prospects who get promoted and light it up. Baseball is all about results and what have you done for me lately. The player development system has their new guy, and he is officially on the clock.

The post Official: Nats have promoted Eddie Longosz to VP of Player Development appeared first on TalkNats.com.

We find that consumer surplus is the primary component of social impact (dwarfing profits, worker surplus, and externalities), suggesting that consumer impacts deserve more attention from impact investors. Existing ESG and social impact ratings are essentially unrelated to our economically grounded measures.

That is from a new NBER working paper by Hunt Allcott, Giovanni Montanari, Bora Ozaltun, and Brandon Tan.

The post Rooftops, people appeared first on Marginal REVOLUTION.

       

Comments

• In reply to Flower People. What the ESG ideologues can't ... by Jack
• In reply to LivelyClock. > As long as non ESG options exist I ... by PHinton
• In reply to community notes. The new LNG project, one of the ... by Cancelled for wongthink
• In reply to Phil S.. I'm not as pessimistic as you, though I ... by LivelyClock
• In reply to Anthropologist. “And utilitarianism itself is a ... by Dismalist
• Plus 10 more...

Related Stories

• What did the different great economists think about India?
• U.S.A.-Europe facts of the day
• Anita Summers, RIP