Skyblue’s “Stone Money” Draft (shreddable)

P1. When first hearing about the concept of Stone Money in class, I could not help but think this is absurd and must be a made up story being told for affect! As I comprehended the lecture and began to read deeper into Milton Friedman’s piece The Island of Stone Money I came to realize that this is a very real piece of history and forced me to analyze how similar the Yap and their money system is with the monetary system we currently have in the United States.

P2. As I read in Friedman’s essay, the whole ordeal that occurred with the French wanting their gold from the US is almost identical to what the German’s did the the fei. (Friedman) What is the point of money?! The gold was not helping the French at all by sitting in our national reserve, it was just the concept, or symbol of the French owning that gold that satisfied them. Was that idea of being wealthy that important that played a hand in the Great Depression? This train of thought then got me thinking what even caused the Great Depression? If money is fictional as the NPR Broadcast stated, then why were we in such a hole.

P3. The NPR Broadcast also caught me dazed and confused when they mentioned the information about online banking. It is true, when my father pays the bills online he is not physically handing the money to Verizon, or whatever bill it is. And if the banks do not actually have our money in the checking or savings account, that they lend it out to circulate how are they getting the money to pay the Verizon company? Is it just the idea that money is getting transferred to each other that satisfies the companies demanding money? Knowing, ok, so and so has the money but the bank lent it out. He’s good for the payment. All this information has me digging deeper into all the things I once believed money to be. We are no different than the Yap who at the beginning I believed to be insane. How silly is our society that we use a piece of paper and hold it up to such high standards that we revolve our world around it. In fact the Yap’s may think we’re crazy for revolving around a piece of paper

P4. I then went on to read How Fake Money Saved Brazil because I was intrigued at how invested citizens were in money. It kind of reminded me of what the NPR broadcast said that money is fiction, therefore the value can change from day to day. This is what was happening in Brazil, causing inflation. The Brazilians did not grasp the concept that the price of the dollar or cruzeiros in their case remained the same, but the value or how much they could purchase would change. It shocked me that a “fake” currency called URV’s could turn around a whole economy that quickly. It just reiterates that money is fiction and it has a firm hold on everyone because we all depend on it. (Chana Joffe-Walt, 2010)

P5. As I read the article relating to Bitcoin, the E-currency I was interested, but not surpassed by what I read because it all relates. They mentioned the Bitcoin’s worth plummeted from $288 to just $54! This in a way doesn’t surprise me, no matter if money is huge ginormous stones, or paper, or virtual over the internet it is all unpredictable. And goes back once again to being fiction. No one can predict whether the inflation of value of the dollar will drop because no one knows exactly how much money is in the world because of the constant circulation!

P6. Now after gaining all that knowledge on the history of money along with current issues about money my mind is boggled to say the least. It gave me a whole new perspective on just what money is. Even though I still haven’t figured out what it is, I gained new knowledge and look at currency and the monetary system in a whole new light!

Works Cited

Friedman, Milton. “The Island of Stone Money.” Diss. Hoover Institution, Stanford University , 1991.

Joffe-Walt, Chana . “How Fake Money Saved Brazil.” NPR.org. 4 Oct. 2010. 30 Jan. 2015. <http://www.npr.org/blogs/money/2010/10/04/130329523/how-fake-money-saved-brazil&gt;.

Renaut, Anne . “The bubble bursts on e-currency Bitcoin.” Yahoo.com. 13 Apr. 2013. 30 Jan. 2015. <https://sg.news.yahoo.com/bubble-bursts-e-currency-bitcoin-064913387–finance.html&gt;.

“The Invention of Stone Money.” 423: The Invention of Stone Money. This Is American Life, WBEZ. Chicago . 7 Jan. 2011.

Posted in Required Reading, Stone Money Links | 1 Comment

A01: Stone Money

A Counterintuitive Assignment:
Stone Money

Fei

Before you begin writing your first post, read skyblue’s draft from last semester, and my feedback to her post.

Before class WED SEP 09, post a reflective response to the story of money on the island of Yap. Find the resources for your assignment in the sidebar under the Category A01: Stone Money.

  1. Listen to the prologue to the NPR broadcast titled “The Invention of Money.” The first 10 minutes of the one-hour broadcast from the Planet Money team describe the stone money of Yap.
  2. Read the closely related 5-page article, “The Island of Stone Money,” by Milton Friedman.
  3. Then, for a deeper understanding of the role of faith in money systems, listen to the NPR broadcast: “The Lie that Saved Brazil.”
  4. Finally, to discover just how nutty our own nation’s monetary policy can be, listen to the NPR broadcast: “Weekend at Bernanke’s.”
  5. For related stories about money, I have provided links to stories about Bitcoin and about Japan’s recent attempt to buy its way to prosperity.
  6. Once you’ve completed your research: Post your 500-word analysis of the abstract concept of money. Describe how your thinking has changed in just two days (or why it hasn’t) about money, wealth, and our faith in things we never see.
  7. YOUR AUDIENCE WAS NOT IN OUR CLASS AND WILL NOT UNDERSTAND SUCH REFERENCES AS: “THE DISCUSSION WE HAD IN CLASS,” or “THE BITCOIN READING.” EXPLAIN THE CONCEPT OF MONEY AS REVEALED IN THE SOURCES AS IF YOU WERE ADDRESSING SOMEONE UNFAMILIAR WITH OUR CLASS AND THE SOURCES.
  8. Cite the broadcast and “The Island of Stone Money” if you wish, but also cite two sources besides the NPR broadcast and the Milton Friedman essay.
  9. Include a Works Cited.
  10. Post your response to the blog (see Details below).

Notes: I’m not interested in your critique of the quality of the writing or the production values of the Planet Money team that produced the story. Instead, I want you to examine the thinking and the behavior of the people involved in the story: for example, the Yap islanders, the German government, the French Bank, the US Treasury, the Brazilians who used cruzeros, the Brazilians as they adapted to the real. The Americans who operate the federal reserve. What is their concept of money? How does ours differ from the Yaps’? In what ways was the Yap concept of money more or less abstract than ours? How fluid is the value of our money?

Sample questions to consider: What is the intrinsic value of money? How could labeling some gold in a basement vault in the US bring down America’s banking system and usher in the Great Depression? What feature of our monetary system might the Yap consider most bizarre? What made Brazilians trust the new currency? How did the recent “fiscal cliff” debate in the US raise questions about our own money as a reliable vehicle of wealth? How could the Japanese plan to invigorate their economy go wrong? Why is public faith in the value of a currency so important?

ASSIGNMENT DETAILS

  • DUE: Noon Tuesday (11:59 am TUE SEP 08).
  • Publish your assignment in two categories: A01: Stone Money and the category for your own name found under Author.
  • Give your post the title Stone Money–Username, substituting your own username, of course.
  • Cite two sources in addition to the NPR broadcast and the Friedman essay.
  • Include a Works Cited.
  • The word count (500 words) is a target; thorough analysis of whatever length will be graded higher than superficial writing that wastes words. Complex ideas briefly expressed are rewarded best.
  • You will receive just one grade for this draft, which is intended to diagnose your abilities and needs. If you request feedback, you’ll receive guidance to help you improve your grade on the first draft.
  • In two weeks, you’ll revise your draft, with or without feedback, for a Rewrite grade (A03: Stone Money Rewrite).
  • Customary late penalties. (0-24 hours 10%) (24-48 hours 20%) (48+ hours, 0 grade)
  • Minor (Non-Portfolio) Assignment (10%)
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Professor for Life

ProfForLifeFA15

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My Counterintuitive Weekend

My Counterintuitive Weekend

Before you can write counterintuitive arguments, you’ll need to understand counterintuitivity as a concept, but I think that rather than offer you a definition of the term, I can serve you better with some illustrations. The broader and more diverse the examples are, the  better I think you’ll understand the scope of counterintuitivity. Let’s just say to begin that things are not what they seem, and that common knowledge is usually wrong.

Unanswerable Questions

For example, at some point in my Catholic grade school education, I started to wonder if maybe God was made in man’s image instead of the other way around. That insight is common to young Catholics who are exposed to deities of other cultures and quickly conclude that they can’t all be accurate, and that which one we believe has more to do with where we were born than anything else.

Maybe because we can’t comprehend eternity, we call eternity God. And because we can’t comprehend infinite space without bounds, we call the limitless universe God. We can’t accept the lack of justice on earth, so we imagine heaven where the scales are all balanced. If so, God doesn’t actually resolve the incomprehensibility of anything; deity is just a way to phrase our unanswerable questions.

Embracing Uncertainty

What we believe to be the case is probably not. Call this a scientific way of thinking. Every conclusion, as soon as it’s proven, is subject to fresh dispute. That may sound like despair, or it can sound like progress. In this class, if we begin to think we’ve resolved a question once and for all, we’ll be surrendering before the ultimate revelation that we’re never done dismissing old, bad ideas, including the best we’ve had so far.

Running errands a few weeks ago, often with the radio on in the background, I had some counterintuitive thoughts.

  • Facebook has more gender categories than the Olympics

Have you heard about this? Instead of forcing users to identify as merely male or female, Facebook has introduced a third massive category of “custom” gender options including “transgender,” “cisgender,” “gender fluid,” “intersex,” and “neither.”

I don’t know whether this will solve or further complicate a problem social media has always had of not knowing what to call us when they recommend us to others. You’ve probably noticed oddities such as, “David Hodges would like you to view their page.” Maybe now that I can choose my gender more specifically, they won’t be so squeamish about calling me “he.” But if I choose “neither,” will they say, “David Hodges would like you to view its page”? Time will tell.

I heard this news while thinking about Olympic athletes from now and ages ago whose genders created questions or disputes. Chinese gymnasts of earlier games are thought to have been as young as 12 or 13 (girls, not women; not exactly a gender problem, but a category problem). Also loudly whispered was the question: were the 14- and 15-year-old competitors fed hormones to delay their advancing development from girlhood to womanhood?

On the other extreme, were Russian athletes in strength competitions actually genetic gentlemen competing against the ladies, or again steroid-fed women whose physiques were artificially masculine?

Now finally, there are some women competing in bobsled contests, but still the gender divide is fairly complete: Men’s Downhill, and Women’s Downhill. How long can these binary categories last when in the rest of our lives we’re invited to be more selective in which gender we “present” to the world?

My Shopping List is an Argument

If I don’t tell you in the first ten minutes of class, I will certainly tell you soon after, that every written document is an argument. In “every written document” I include news reports, weather forecasts, histories, biographies, autobiographies, technical manuals, lab results, baseball statistics, recipes, and road signs.

I challenge students with this premise all the time because it sounds so implausible, but I’d like to present a shopping list as an example of what I believe to be a written argument, written for a particular audience, which becomes a battleground for dispute in the hands of any other reader.

Shopping List

Argument Depends on Audience

As long as I (the intended audience) have this list with me, my reader (me!) is unlikely to argue with its premises. But even so, I may decide to substitute Hagen-Dasz for Breyers if the price is right. But if my wife takes the list to the store on my behalf she may present compelling counterarguments to my “conclusions” on the following grounds or others:

Counterarguments

  1. Who needs premium ice cream?
  2. Will he ever notice the difference between conventional kale and organic kale (Is there actually a difference?)?
  3. We already have plenty of drawstring bags.
  4. We don’t have room for 24 more seltzer bottles.
  5. Since when do we buy beef specifically for the dogs?
  6. Even if the per-pill price is significantly cheaper, I can’t believe we’ll use 1000 ibuprofen before their effectiveness expires.

Diarists Lie

On this topic, please remind me to argue that a diary is written for a very specific audience and therefore is as manipulative and artificial as any other piece of writing. (If you need a preview of this demonstration I will direct you to Francine Prose’s wonderful examination of Anne Frank’s Diary of a Young Girl, which, she argues convincingly, was extensively edited by Frank for the sake of future readers.) She calls the book “a masterpiece written by a complicated artist who died too young.”

The only known video of Anne Frank.

Quiz Question: who is the very specific intended audience for your diary?
Quiz Question: who was the intended audience for Anne Frank’s Diary?

Mitt’s Audience

On this topic also, I could share with you the video captured at Mitt Romney’s campaign fundraiser during the run-up to the 2012 presidential election. If you can imagine him making the same speech to any other audience, then you haven’t started thinking seriously about how exactly we craft what we write to suit our intended readers.

Link to the speech.

Duchamp’s Readymades

Marcel Duchamp is a favorite of mine, and I’d recently been to the Philadelphia Museum of Art, so when I found myself handling paring knives and graters in the kitchen, I asked myself the simple question: is this item art?

cheese grater

It’s certainly beautifully designed and crafted, but my instinct tells me that its functionality prevents it from being art. It can be artful, but not art. My working definition is that art is something created for no other purpose than to be observed or experienced. Still, I’m disputatious by nature, so I didn’t let that first impression stop me. It certainly didn’t stop Duchamp from calling this art:

bottle_rack

He didn’t create it, design it, weld it, or change it in any way except to sign it and remove it from the place where it would have had a function. Placing it into an art gallery, for Duchamp, and for the rest of the art world, effectively transformed a wire bottle rack into a piece of art. So maybe my definition still works. Maybe not.

If you think this one bottle rack is art while the thousand others in the factory are not, and that swapping one for the other would transform the one in the gallery into art while transforming the other back into a functional object, then you’re beginning to grapple with counterintuitivity. As you do so, you’ll stop taking things for granted. And stop thinking that anything is obvious.

Tim’s Vermeer

While I was puzzling over readymades and washing dishes, I was reminded that I hadn’t yet seen a documentary that had been on my list.

The Dutch painter Vermeer is well-known for his remarkably realistic interiors in which people and furniture are carefully arranged. He handled perspective perfectly, long before other painters had a clue how to realistically portray actual items in space.

Vermeer Music Lesson

Inventor Tim Jenison thought he might have an idea how Vermeer accomplished his remarkable achievement. He knew, as many did, that pinhole cameras had been used by artists for years to project images onto walls for reproduction.

Pinhole Camera

Jenison is an inventor, not a painter, so he wondered more about how such a “machine” might help him accomplish a job than about whether the result would be art. This early question eventually led him to discover that he too could accomplish remarkably “artistic” results through mostly mechanical means. First, he built a room like the room in Vermeer’s “Music Lesson.” (Vermeer skipped this step because, for him, the room existed in his neighborhood.)

Vermeer's Room

Then, he dressed models in appropriate clothing.

Vermeer's Music Tutor

Then, using mirrors to reflect images of the room just in front of his canvas, he mixed paints to match what he saw before him, and, without any artistic training, he produced facsimiles of the images he placed before the mirrors.

Link to the video

After years of practice, trial, error, and corrections, he has upset a lot of people by painting this:

Finished Vermeer

The first counterintuitive claim that can be argued here is that Vermeer painted “by eye,” without relying on the mechanical process Jenison employed. We only think it’s “obvious” that he did so because of what we think we know about the art of his time.

We might also claim that Jenison is (or is not) an artist, based on different definitions. He does not profess to have “artistic talent,” but he did produce a Vermeer, by hand, with paint and brushes. We don’t dispute that Vermeer is an artist, but what if he used a similar technique?

One More About Art

Alexa Meade has a different way of representing three-dimensional objects as two-dimensional objects. She paints directly on the objects, turning them from objects into paintings.

This isn’t a painting of breakfast. It’s breakfast, painted. It’s an actual egg, on toast, on a plate, by a sausage, with a fork, on a plate, the surfaces of all of which have been painted to resemble a representation of the objects they are.

breakfast

And this is not a painting of a man on a bus. It’s a man on a bus, painted.

Man on Bus

Here’s how it looks when she’s working on it.

Painted+Installations

Here’s how it looks when other people look at it:

At the installation

Let’s apply a different way of thinking to some real-life social and ethical issues.

Bariatric Surgery

Do you have a strong feeling about bariatric surgery? I don’t. I’m sympathetic toward people who can’t seem to keep their weight under control despite their best efforts. I’ve conducted enough skirmishes with my own body to appreciate that our appetites are not merely hungers we can control with “will power.”

I also don’t think “will power” is a commodity we all have access to in the same supply. So a person whose body conspires to withhold every calorie, who also lacks the psychological ability to deny himself, or the physiological signal that tells the rest of us we’re “full,” is just cursed and needs some help.

So, why does this story from the Wall Street Journal disturb me so much?

“As the World’s Kids Get Fatter, Doctors Turn to the Knife.”

BariatricSurgery

Daifailluh al-Bugami, 3 years old, is awaiting bariatric surgery. Daifailluh is among a rapidly growing number of kids in Saudi Arabia undergoing radical surgery to control their weight. In the last seven years, Daifailluh’s doctor has performed bariatric surgery on nearly 100 children under the age of 14 from countries in the Gulf region.

Euthanasia for Kids

This one you’ll find linked to the blogroll of our class blog. From the New York Times: “Belgian lawmakers gave final approval on Thursday to a measure that would allow euthanasia for incurably ill children enduring insufferable pain. King Philippe is expected to sign the measure into law and make Belgium the first country to lift all age restrictions on legal, medically induced deaths.

“Under the measure, approved 86 to 44 by the lower house, euthanasia would be permissible for terminally ill children who are close to death, experiencing ‘constant and unbearable suffering’ and can show a ‘capacity of discernment,’ meaning they can demonstrate they understand the consequences of such a choice.”

As you can imagine, despite the majority in the legislature, the prospect of letting kids decide to die, and helping them do so, has some very vehement opponents.

Why do I consider this question counterintuitive?
There are more than two points of view here.

  • Some might object to assisted suicide period.
  • Others might insist we all have the right to end our lives if they’ve grown intolerable.
  • Those in the middle might think it’s acceptable for the very elderly to end their lives slightly prematurely but be appalled at the prospect of ending a child’s life.
  • All three points of view are counterintuitive.

What’s counterintuitive about them?

  • We can’t actively promote killing ourselves without feeling the natural resistance of our bodies to preserve themselves. (It seems obvious that we shouldn’t kill ourselves and therefore counterintuitive to argue that we should.)
  • We can’t logically insist that our loved ones continue to suffer after they’ve concluded that their lives are worth more to us than to themselves and very little to either.
  • And if we want to claim that the elderly have a right that is somehow unavailable to youth, let me suggest this:
    • Distance from birth is one way to calculate age; distance from death is another.
    • By the second calculation, the child with the terminal illness is older than you and me.

If you want to change the world . . .

change the metaphors we use to describe it.

Here is a sleeping dog. Everything we have experienced of dogs tells us that this is clearly a dog and that no rational argument could be made, based on the photograph alone, that the dog is anything other than resting, most likely asleep, and probably unaware of our presence.

We are so accustomed to seeing sleeping dogs that we don’t experience them anymore. And since we have little to fear from domesticated dogs, we don’t react as their prey might react during a chance encounter with one.

Sleeping Dog

But add just two little black dots, and here is what the dog’s predators and prey might see when considering whether to attack or flee the “sleeping dog.”

Dog Awake2

Those light patches of fur were clearly favored by evolution because they helped the dog survive. As humans who do not fear the dog, we have learned to ignore them. We see them as mere “colorations” or “markings” of the rottweiler. How many other things have we learned to ignore? How many other signals do we miss when we take for granted that our “common knowledge” is knowledge?

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