Version: 4 (current) | Updated: 12/2/2025, 9:29:17 PM
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@file_pinax:document {title: "Chartbook Top Links #1", creator: @adam_tooze, created: @date_2021_07_20, language: "en", subjects: ["Chartbook","Newsletter","Reading Suggestions","Adam Tooze"]}
@file_39002907_chartbook_top_links_1:document {title: "Chartbook Top Links #1", subtitle: "1st in a series of posts with interesting links for Chartbook supporters.", date: @date_2021_07_20, audience: "everyone", type: "newsletter"}
@chartbook_top_links_1:event {date: @date_2021_07_20, title: "Chartbook Top Links #1", subtitle: "1st in a series of posts with interesting links for Chartbook supporters.", creator: @adam_tooze}
@file_39020412_top_links_2_reading_suggestions_from:document {title: "Top Links #2 Reading suggestions from Adam Tooze", subtitle: "ECB, Guido Morselli and THAT Cummings clip.", date: @date_2021_07_21, audience: "everyone", type: "newsletter"}
@chartbook_top_links_2:event {date: @date_2021_07_21, title: "Top Links #2", subtitle: "ECB, Guido Morselli and THAT Cummings clip.", creator: @adam_tooze}
@file_39024323_top_links_for_chartbook_subscribers:document {title: "Top Links for Chartbook subscribers #3", subtitle: "Samurai unchained, RIP China's \"Mr Millions\" and the Queen was quite curious about Saddam!", date: @date_2021_07_25, audience: "only_free", type: "newsletter"}
@chartbook_top_links_3:event {date: @date_2021_07_25, title: "Top Links #3", subtitle: "Samurai unchained, RIP China's \"Mr Millions\" and the Queen was quite curious about Saddam!", creator: @adam_tooze}
@file_39179526_top_links_for_chartbook_by_adam_tooze:document {title: "Top Links for Chartbook by Adam Tooze #4", subtitle: "Greening the Fed, Thatcher's inflation pantry and the fate of the Japanese navy.", date: @date_2021_07_27, audience: "only_paid", type: "newsletter"}
@chartbook_top_links_4:event {date: @date_2021_07_27, title: "Top Links #4", subtitle: "Greening the Fed, Thatcher's inflation pantry and the fate of the Japanese navy.", creator: @adam_tooze}
@file_39247525_adam_tooze_chartbook_top_links_5:document {title: "Adam Tooze Chartbook Top Links #5", subtitle: "Fukuyama, Westphalia and the Elephant.", date: @date_2021_07_29, audience: "only_paid", type: "newsletter"}
@chartbook_top_links_5:event {date: @date_2021_07_29, title: "Top Links #5", subtitle: "Fukuyama, Westphalia and the Elephant.", creator: @adam_tooze}
@chartbook_newsletter:organization {creator: @adam_tooze, description: "A subscription‑based newsletter curating reading, podcasts and analysis on economics, history and politics."}
@chartbook_top_links_1 -> published by -> @chartbook_newsletter
@chartbook_top_links_2 -> published by -> @chartbook_newsletter
@chartbook_top_links_3 -> published by -> @chartbook_newsletter
@chartbook_top_links_4 -> published by -> @chartbook_newsletter
@chartbook_top_links_5 -> published by -> @chartbook_newsletter
@adam_tooze:person {full_name: "Adam Tooze", occupation: "Economic Historian", affiliation: @chartbook_newsletter}
@chartbook_top_links_1 -> mentions -> @book:document {title: "The Struggle to Save the Soviet Economy. Mikhail Gorbachev and the Collapse of the USSR", author: @chris_miller, publisher: @university_of_north_carolina_press, year: @date_2021_07_20}
@chris_miller:person {full_name: "Chris Miller", occupation: "Historian"}
@chartbook_top_links_1 -> mentions -> @book:document {title: "How China Escaped Shock Therapy", author: @isabella_weber, publisher: @routledge, year: @date_2021_07_20}
@isabella_weber:person {full_name: "Isabella Weber", occupation: "Economic Historian"}
@chartbook_top_links_1 -> mentions -> @article:document {title: "Sex with Stalin", source: @ft, date: @date_2021_07_20}
@ft:organization {full_name: "Financial Times"}
@chartbook_top_links_2 -> mentions -> @event:event {date: @date_2021_07_22, description: "ECB announces fresh guidance on its new monetary policy strategy (2 % inflation target)."}
@ecb:organization {full_name: "European Central Bank"}
@chartbook_top_links_2 -> mentions -> @article:document {title: "Climate crisis offers way out of monetary orthodoxy", source: @social_europe, url: "https://socialeurope.eu/climate-crisis-offers-way-out-of-monetary-orthodoxy"}
@social_europe:organization {full_name: "Social Europe"}
@chartbook_top_links_2 -> mentions -> @article:document {title: "Europe shouldn’t worry about inflation", author: @christian_odendahl, source: @cer}
@christian_odendahl:person {full_name: "Christian Odendahl"}
@cer:organization {full_name: "Centre for Economic Performance"}
@chartbook_top_links_2 -> mentions -> @article:document {title: "Why does inflation worry the right so much?", author: @mark_blyth, source: @guardian}
@mark_blyth:person {full_name: "Mark Blyth"}
@chartbook_top_links_2 -> mentions -> @essay:document {title: "Independence from What?", author: @stefan_eich, source: @just_money}
@stefan_eich:person {full_name: "Stefan Eich"}
@just_money:organization {full_name: "Just Money"}
@chartbook_top_links_2 -> mentions -> @article:document {title: "Carbon pricing isn’t effective at reducing CO₂ emissions", author: @lance_taylor, source: @inet}
@lance_taylor:person {full_name: "Lance Taylor"}
@inet:organization {full_name: "Institute for New Economic Thinking"}
@chartbook_top_links_2 -> mentions -> @book:document {title: "Shutdown", author: @guido_morselli, publisher: @nyrb, year: @date_2021_07_20}
@guido_morselli:person {full_name: "Guido Morselli"}
@nyrb:organization {full_name: "New York Review of Books"}
@chartbook_top_links_2 -> mentions -> @podcast:organization {title: "Politics Theory Other", host: @alex_doherty}
@alex_doherty:person {full_name: "Alex Doherty"}
@chartbook_top_links_2 -> mentions -> @tweet:document {author: @alex_turnbull, content: "#Evergrande – not China’s 2008 moment; consistent with tech crackdown.", date: @date_2021_07_21}
@alex_turnbull:person {full_name: "Alex Turnbull"}
@chartbook_top_links_3 -> mentions -> @article:document {title: "Dominic Cummings reveals he discussed ousting Boris Johnson", source: @bbc_breaking, date: @date_2021_07_20}
@bbc_breaking:organization {full_name: "BBC Breaking News"}
@chartbook_top_links_3 -> mentions -> @article:document {title: "The Philosopher’s Wine", author: @nick_foretek, source: @new_lines_magazine}
@nick_foretek:person {full_name: "Nick Foretek"}
@new_lines_magazine:organization {full_name: "New Lines Magazine"}
@chartbook_top_links_3 -> mentions -> @article:document {title: "Water Margin retelling", author: @john_zhu, url: "http://www.outlawsofthemarsh.com/"}
@john_zhu:person {full_name: "John Zhu"}
@chartbook_top_links_3 -> mentions -> @article:document {title: "Brexit Britain tick", source: @new_left_review, author: @will_davies}
@will_davies:person {full_name: "Will Davies"}
@chartbook_top_links_3 -> mentions -> @article:document {title: "Spectator set", author: @geoff_mulgan, source: @spectator}
@geoff_mulgan:person {full_name: "Geoff Mulgan"}
@spectator:organization {full_name: "The Spectator"}
@chartbook_top_links_3 -> mentions -> @article:document {title: "Why Brexit crisis matters for global capitalism", author: @david_edgerton, source: @guardian, date: @date_2019_10_09}
@david_edgerton:person {full_name: "David Edgerton"}
@chartbook_top_links_3 -> mentions -> @article:document {title: "Northern Ireland protocol is ‘oven‑ready’", author: @fintan_otoole, source: @guardian}
@fintan_otoole:person {full_name: "Fintan O’Toole"}
@chartbook_top_links_3 -> mentions -> @blog:document {title: "The Frost Johnson approach has already…", author: @chris_grey, url: "https://chrisgreybrexitblog.blogspot.com/2021/07/the-frost-johnson-approach-has-already.html"}
@chris_grey:person {full_name: "Chris Grey"}
@chartbook_top_links_3 -> mentions -> @article:document {title: "How to blow up a pipeline", source: @guardian, date: @date_2021_07_20}
@chartbook_top_links_4 -> mentions -> @article:document {title: "Greening the Fed", author: @alex_doherty, source: @politics_theory_other}
@politics_theory_other:organization {full_name: "Politics Theory Other"}
@chartbook_top_links_4 -> mentions -> @video:document {title: "Green Swan Conference panel", platform: "YouTube", video_id: "KqssyOR8t9s"}
@chartbook_top_links_4 -> mentions -> @article:document {title: "Data as a resource for the 21st‑century economy", author: @unknown, source: @ft, url: "https://www.ft.com/content/6f9f6f1f-e2d1-4646-b5ec-7d704e45149e"}
@chartbook_top_links_4 -> mentions -> @facebook_group:document {title: "Banzai – Imperial Japanese Navy material", url: "https://www.facebook.com/groups/1414345762215538/"}
@chartbook_top_links_4 -> mentions -> @map:document {title: "Imperial Japanese Navy vessel loss map", source: @banzai_group}
@banzai_group:organization {full_name: "Banzai Facebook Group"}
@chartbook_top_links_4 -> mentions -> @article:document {title: "Evergrande – not China’s 2008 moment", author: @alex_turnbull, source: @twitter}
@chartbook_top_links_4 -> mentions -> @article:document {title: "Japan’s defence white paper 2021", source: @japan_moD, url: "https://www.mod.go.jp/en/publ/w_paper/wp2021/DOJ2021_Digest_EN.pdf"}
@japan_moD:organization {full_name: "Japan Ministry of Defence"}
@chartbook_top_links_4 -> mentions -> @interview:document {title: "Heather Boushey with Rana Foroohar on the Biden administration", source: @ft, date: @date_2021_07_20}
@heather_boushey:person {full_name: "Heather Boushey"}
@rana_foroohar:person {full_name: "Rana Foroohar"}
@chartbook_top_links_5 -> mentions -> @person:person {full_name: "Francis Fukuyama", occupation: "Political Scientist"}
@chartbook_top_links_5 -> mentions -> @article:document {title: "Sovereignty talk – Westphalian myth", author: @claire_vergerio, source: @boston_review}
@claire_vergerio:person {full_name: "Claire Vergerio"}
@boston_review:organization {full_name: "Boston Review"}
@chartbook_top_links_5 -> mentions -> @publication:organization {title: "The Elephant", description: "Pan‑African platform for dialogue and truth‑seeking.", founded: @date_2016}
@the_elephant:organization {title: "The Elephant"}
@chartbook_top_links_5 -> mentions -> @article:document {title: "Persistent globalization effects", author: @isabel_weber, source: @phenomenal_world}
@isabel_weber:person {full_name: "Isabel Weber"}
@phenomenal_world:organization {full_name: "Phenomenal World"}
@chartbook_top_links_5 -> mentions -> @article:document {title: "Xinjiang and Polysilicon", author: @alex_turnbull, source: @syncretica, date: @date_2021_06_16}
@syncretica:publication {title: "Syncretica"}
@chartbook_top_links_5 -> mentions -> @model:document {title: "Radio‑controlled model of IJN Yamato", creator: @unknown, url: "https://www.modelshipmaster.com/products/modern_navy/Yamato.htm"}
@chartbook_top_links_5 -> mentions -> @person:person {full_name: "Philippe Jean Lambert", affiliation: @banzai_group}
@chartbook_top_links_5 -> mentions -> @article:document {title: "Margaret Thatcher’s stockpiling interview", author: @unknown, source: @twitter_thread, url: "https://threadreaderapp.com/thread/1240908312125865985.html"}
@chartbook_top_links_5 -> mentions -> @book:document {title: "The Communist", author: @walter_ferranini, publisher: @nyrb, year: @date_2021_07_20, description: "A novel about an Italian Communist deputy in the late 1950s."}
@walter_ferranini:person {full_name: "Walter Ferranini"}
@chartbook_top_links_5 -> mentions -> @book:document {title: "The Wages of Destruction", author: @adam_tooze, publisher: @lrb, year: @date_2021_07_20}
@lrb:organization {full_name: "London Review of Books"}
@chartbook_top_links_5 -> mentions -> @soundcloud:document {title: "#14 Adam Tooze on Nazi ideology and the German war economy", creator: @politics_theory_other, url: "https://w.soundcloud.com/player/?url=https%3A//api.soundcloud.com/tracks/463287405"}
@chartbook_top_links_5 -> mentions -> @video:document {title: "G7 summit 1991 – Queen Elizabeth II with world leaders", platform: "YouTube", video_id: "T8dQOqCbcT4"}
@chartbook_top_links_5 -> mentions -> @article:document {title: "Carbon pricing – BoE 2016 paper", author: @sandra_batten, source: @bank_of_england, url: "https://www.bankofengland.co.uk/working-paper/2016/lets-talk-about-the-weather-the-impact-of-climate-change-on-central-banks"}
@sandra_batten:person {full_name: "Sandra Batten"}
@rhiannon_sowerbutts:person {full_name: "Rhiannon Sowerbutts"}
@misa_tanaka:person {full_name: "Misa Tanaka"}
@bank_of_england:organization {full_name: "Bank of England"}
@chartbook_top_links_5 -> mentions -> @article:document {title: "Carbon pricing isn’t effective at reducing CO₂ emissions", author: @lance_taylor, source: @inet}
@chartbook_top_links_5 -> mentions -> @article:document {title: "Evergrande – not China’s 2008 moment", author: @alex_turnbull, source: @twitter}
@chartbook_top_links_5 -> mentions -> @article:document {title: "Japan’s defence white paper 2021", source: @japan_moD}
@chartbook_top_links_5 -> mentions -> @article:document {title: "Boushey & Foroohar conversation", source: @ft}
@chartbook_top_links_5 -> mentions -> @article:document {title: "Margaret Thatcher interview thread", source: @twitter, url: "https://threadreaderapp.com/thread/1240908312125865985.html"}
@chartbook_top_links_5 -> mentions -> @article:document {title: "The Elephant – Pan‑African platform", source: @the_elephant}
@chartbook_top_links_5 -> mentions -> @article:document {title: "Persistent globalization effects", author: @isabel_weber, source: @phenomenal_world}
@chartbook_top_links_5 -> mentions -> @article:document {title: "Xinjiang and Polysilicon", author: @alex_turnbull, source: @syncretica}
@chartbook_top_links_5 -> mentions -> @model:document {title: "Radio‑controlled model of IJN Yamato", url: "https://www.modelshipmaster.com/products/modern_navy/Yamato.htm"}
@chartbook_top_links_5 -> mentions -> @person:person {full_name: "Jack Xu", role: "Twitter friend"}
@chartbook_top_links_5 -> mentions -> @person:person {full_name: "Alex Turnbull", role: "Commentator"}<!--
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<div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!KNFK!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Ff6967f0c-7ac5-4293-884f-6f6bfcad97c0_506x602.png" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!KNFK!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Ff6967f0c-7ac5-4293-884f-6f6bfcad97c0_506x602.png 424w, https://substackcdn.com/image/fetch/$s_!KNFK!,w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Ff6967f0c-7ac5-4293-884f-6f6bfcad97c0_506x602.png 848w, https://substackcdn.com/image/fetch/$s_!KNFK!,w_1272,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Ff6967f0c-7ac5-4293-884f-6f6bfcad97c0_506x602.png 1272w, https://substackcdn.com/image/fetch/$s_!KNFK!,w_1456,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Ff6967f0c-7ac5-4293-884f-6f6bfcad97c0_506x602.png 1456w" sizes="100vw"><img src="https://bucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com/public/images/f6967f0c-7ac5-4293-884f-6f6bfcad97c0_506x602.png" width="506" height="602" data-attrs="{"src":"https://bucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com/public/images/f6967f0c-7ac5-4293-884f-6f6bfcad97c0_506x602.png","srcNoWatermark":null,"fullscreen":null,"imageSize":null,"height":602,"width":506,"resizeWidth":null,"bytes":342770,"alt":null,"title":null,"type":"image/png","href":null,"belowTheFold":false,"topImage":true,"internalRedirect":null,"isProcessing":false,"align":null,"offset":false}" class="sizing-normal" alt="" srcset="https://substackcdn.com/image/fetch/$s_!KNFK!,w_424,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Ff6967f0c-7ac5-4293-884f-6f6bfcad97c0_506x602.png 424w, https://substackcdn.com/image/fetch/$s_!KNFK!,w_848,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Ff6967f0c-7ac5-4293-884f-6f6bfcad97c0_506x602.png 848w, https://substackcdn.com/image/fetch/$s_!KNFK!,w_1272,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Ff6967f0c-7ac5-4293-884f-6f6bfcad97c0_506x602.png 1272w, https://substackcdn.com/image/fetch/$s_!KNFK!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Ff6967f0c-7ac5-4293-884f-6f6bfcad97c0_506x602.png 1456w" sizes="100vw" fetchpriority="high"></picture><div class="image-link-expand"><div class="pencraft pc-display-flex pc-gap-8 pc-reset"><div class="pencraft pc-reset icon-container restack-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-refresh-cw"><path d="M3 12a9 9 0 0 1 9-9 9.75 9.75 0 0 1 6.74 2.74L21 8"></path><path d="M21 3v5h-5"></path><path d="M21 12a9 9 0 0 1-9 9 9.75 9.75 0 0 1-6.74-2.74L3 16"></path><path d="M8 16H3v5"></path></svg></div><div class="pencraft pc-reset icon-container view-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></div></div></div></div></a></figure></div><p>I’m delighted and grateful that so many people are showing their support for <em>Chartbook Newsletter</em> by signing up as paying subscribers. It has been a big boost. Thank you! </p><p>To broaden and deepen that community, for paying subscribers, I am going to do a semi-regular weekly post that brings together interesting reading, podcasts and other links. </p><p>In the comments it would be great if subscribers would like to share their latest enthusiasms. No need for more than a quick line with a link. </p><p>“Been listening to this podcast and loving it. Check out the episode …”. </p><p>“Weber’s new book is as good as everyone is saying it is”. </p><p>“Don’t miss this article in <em>The Guardian</em> …”. </p><p>I look forward to hearing from you about the cool stuff you are into! </p><p>The first two Top Links will be going out to the entire <em>Chartbook Newsletter</em> email list. From August it will be exclusive for paying subscribers. </p><p>If you would like to join <em>Chartbook</em>’s supporters, hit the button below.</p><p class="button-wrapper" data-attrs="{"url":"https://adamtooze.substack.com/subscribe?","text":"Subscribe now","action":null,"class":null}" data-component-name="ButtonCreateButton"><a class="button primary" href="https://adamtooze.substack.com/subscribe?"><span>Subscribe now</span></a></p><p><strong>Reading for the week?</strong> I’ve been getting into Chris Miller’s fantastically interesting book on <a href="https://uncpress.org/book/9781469630175/the-struggle-to-save-the-soviet-economy/">The Struggle to Save the Soviet Economy. Mikhail Gorbachev and the Collapse of the USSR</a>. </p><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!ObvM!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F964663a8-6a87-4ba3-9c03-a580d57c3db5_556x830.png" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!ObvM!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F964663a8-6a87-4ba3-9c03-a580d57c3db5_556x830.png 424w, https://substackcdn.com/image/fetch/$s_!ObvM!,w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F964663a8-6a87-4ba3-9c03-a580d57c3db5_556x830.png 848w, https://substackcdn.com/image/fetch/$s_!ObvM!,w_1272,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F964663a8-6a87-4ba3-9c03-a580d57c3db5_556x830.png 1272w, https://substackcdn.com/image/fetch/$s_!ObvM!,w_1456,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F964663a8-6a87-4ba3-9c03-a580d57c3db5_556x830.png 1456w" sizes="100vw"><img src="https://bucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com/public/images/964663a8-6a87-4ba3-9c03-a580d57c3db5_556x830.png" width="484" height="722.5179856115108" data-attrs="{"src":"https://bucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com/public/images/964663a8-6a87-4ba3-9c03-a580d57c3db5_556x830.png","srcNoWatermark":null,"fullscreen":null,"imageSize":null,"height":830,"width":556,"resizeWidth":484,"bytes":701561,"alt":null,"title":null,"type":"image/png","href":null,"belowTheFold":true,"topImage":false,"internalRedirect":null,"isProcessing":false,"align":null,"offset":false}" class="sizing-normal" alt="" srcset="https://substackcdn.com/image/fetch/$s_!ObvM!,w_424,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F964663a8-6a87-4ba3-9c03-a580d57c3db5_556x830.png 424w, https://substackcdn.com/image/fetch/$s_!ObvM!,w_848,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F964663a8-6a87-4ba3-9c03-a580d57c3db5_556x830.png 848w, https://substackcdn.com/image/fetch/$s_!ObvM!,w_1272,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F964663a8-6a87-4ba3-9c03-a580d57c3db5_556x830.png 1272w, https://substackcdn.com/image/fetch/$s_!ObvM!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F964663a8-6a87-4ba3-9c03-a580d57c3db5_556x830.png 1456w" sizes="100vw" loading="lazy"></picture><div class="image-link-expand"><div class="pencraft pc-display-flex pc-gap-8 pc-reset"><div class="pencraft pc-reset icon-container restack-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-refresh-cw"><path d="M3 12a9 9 0 0 1 9-9 9.75 9.75 0 0 1 6.74 2.74L21 8"></path><path d="M21 3v5h-5"></path><path d="M21 12a9 9 0 0 1-9 9 9.75 9.75 0 0 1-6.74-2.74L3 16"></path><path d="M8 16H3v5"></path></svg></div><div class="pencraft pc-reset icon-container view-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></div></div></div></div></a></figure></div><p>Miller does a great job explaining how the late Soviet Union reconsidered its hostility toward China and tried and failed to imitate China’s reforms. It makes a great complement to Isabella Weber’s much-discussed book <em><a href="https://www.routledge.com/How-China-Escaped-Shock-Therapy-The-Market-Reform-Debate/Weber/p/book/9781032008493">How China Escaped Shock Therapy</a></em><a href="https://www.routledge.com/How-China-Escaped-Shock-Therapy-The-Market-Reform-Debate/Weber/p/book/9781032008493">. </a></p><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!YpvG!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F6755e2c5-90ac-4677-803e-bcb6b807c64e_630x936.png" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!YpvG!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F6755e2c5-90ac-4677-803e-bcb6b807c64e_630x936.png 424w, https://substackcdn.com/image/fetch/$s_!YpvG!,w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F6755e2c5-90ac-4677-803e-bcb6b807c64e_630x936.png 848w, https://substackcdn.com/image/fetch/$s_!YpvG!,w_1272,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F6755e2c5-90ac-4677-803e-bcb6b807c64e_630x936.png 1272w, https://substackcdn.com/image/fetch/$s_!YpvG!,w_1456,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F6755e2c5-90ac-4677-803e-bcb6b807c64e_630x936.png 1456w" sizes="100vw"><img src="https://bucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com/public/images/6755e2c5-90ac-4677-803e-bcb6b807c64e_630x936.png" width="488" height="725.0285714285715" data-attrs="{"src":"https://bucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com/public/images/6755e2c5-90ac-4677-803e-bcb6b807c64e_630x936.png","srcNoWatermark":null,"fullscreen":null,"imageSize":null,"height":936,"width":630,"resizeWidth":488,"bytes":725350,"alt":null,"title":null,"type":"image/png","href":null,"belowTheFold":true,"topImage":false,"internalRedirect":null,"isProcessing":false,"align":null,"offset":false}" class="sizing-normal" alt="" srcset="https://substackcdn.com/image/fetch/$s_!YpvG!,w_424,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F6755e2c5-90ac-4677-803e-bcb6b807c64e_630x936.png 424w, https://substackcdn.com/image/fetch/$s_!YpvG!,w_848,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F6755e2c5-90ac-4677-803e-bcb6b807c64e_630x936.png 848w, https://substackcdn.com/image/fetch/$s_!YpvG!,w_1272,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F6755e2c5-90ac-4677-803e-bcb6b807c64e_630x936.png 1272w, https://substackcdn.com/image/fetch/$s_!YpvG!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F6755e2c5-90ac-4677-803e-bcb6b807c64e_630x936.png 1456w" sizes="100vw" loading="lazy"></picture><div class="image-link-expand"><div class="pencraft pc-display-flex pc-gap-8 pc-reset"><div class="pencraft pc-reset icon-container restack-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-refresh-cw"><path d="M3 12a9 9 0 0 1 9-9 9.75 9.75 0 0 1 6.74 2.74L21 8"></path><path d="M21 3v5h-5"></path><path d="M21 12a9 9 0 0 1-9 9 9.75 9.75 0 0 1-6.74-2.74L3 16"></path><path d="M8 16H3v5"></path></svg></div><div class="pencraft pc-reset icon-container view-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></div></div></div></div></a></figure></div><p>I’m going to be discussing both of them in a review essay on the “1989 moment” for <em>Noema Magazine</em>, later in the summer. </p><p><em><strong>Deluge</strong></em><strong> and </strong><em><strong>Crashed</strong></em><strong> </strong>just came out in Mandarin this week. <em>Crashed</em> looks super cool in the Chinese edition.</p><p></p><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!A5q1!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F870eb94a-1377-4fad-bb6d-dae443d5e69f_1106x888.png" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!A5q1!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F870eb94a-1377-4fad-bb6d-dae443d5e69f_1106x888.png 424w, https://substackcdn.com/image/fetch/$s_!A5q1!,w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F870eb94a-1377-4fad-bb6d-dae443d5e69f_1106x888.png 848w, https://substackcdn.com/image/fetch/$s_!A5q1!,w_1272,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F870eb94a-1377-4fad-bb6d-dae443d5e69f_1106x888.png 1272w, https://substackcdn.com/image/fetch/$s_!A5q1!,w_1456,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F870eb94a-1377-4fad-bb6d-dae443d5e69f_1106x888.png 1456w" sizes="100vw"><img src="https://bucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com/public/images/870eb94a-1377-4fad-bb6d-dae443d5e69f_1106x888.png" width="654" height="525.0922242314647" data-attrs="{"src":"https://bucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com/public/images/870eb94a-1377-4fad-bb6d-dae443d5e69f_1106x888.png","srcNoWatermark":null,"fullscreen":null,"imageSize":null,"height":888,"width":1106,"resizeWidth":654,"bytes":171136,"alt":null,"title":null,"type":"image/png","href":null,"belowTheFold":true,"topImage":false,"internalRedirect":null,"isProcessing":false,"align":null,"offset":false}" class="sizing-normal" alt="" srcset="https://substackcdn.com/image/fetch/$s_!A5q1!,w_424,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F870eb94a-1377-4fad-bb6d-dae443d5e69f_1106x888.png 424w, https://substackcdn.com/image/fetch/$s_!A5q1!,w_848,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F870eb94a-1377-4fad-bb6d-dae443d5e69f_1106x888.png 848w, https://substackcdn.com/image/fetch/$s_!A5q1!,w_1272,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F870eb94a-1377-4fad-bb6d-dae443d5e69f_1106x888.png 1272w, https://substackcdn.com/image/fetch/$s_!A5q1!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F870eb94a-1377-4fad-bb6d-dae443d5e69f_1106x888.png 1456w" sizes="100vw" loading="lazy"></picture><div class="image-link-expand"><div class="pencraft pc-display-flex pc-gap-8 pc-reset"><div class="pencraft pc-reset icon-container restack-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-refresh-cw"><path d="M3 12a9 9 0 0 1 9-9 9.75 9.75 0 0 1 6.74 2.74L21 8"></path><path d="M21 3v5h-5"></path><path d="M21 12a9 9 0 0 1-9 9 9.75 9.75 0 0 1-6.74-2.74L3 16"></path><path d="M8 16H3v5"></path></svg></div><div class="pencraft pc-reset icon-container view-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></div></div></div></div></a></figure></div><p>Finding myself in the <a href="https://wemp.app/posts/6493df98-d50b-442e-9ee0-9b6ed0d231b7">Shanghai Book Review</a> talking to the brilliant Yanjie Huang was quite a trip. The interview is in Mandarin, but google translate does a great job. It was an exceptionally interesting conversation about China, Europe and the US in the long twentieth century.</p><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!MEBR!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F6774f4e4-bf7e-405b-a7df-cf628df1b25b_734x1016.png" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!MEBR!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F6774f4e4-bf7e-405b-a7df-cf628df1b25b_734x1016.png 424w, https://substackcdn.com/image/fetch/$s_!MEBR!,w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F6774f4e4-bf7e-405b-a7df-cf628df1b25b_734x1016.png 848w, https://substackcdn.com/image/fetch/$s_!MEBR!,w_1272,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F6774f4e4-bf7e-405b-a7df-cf628df1b25b_734x1016.png 1272w, https://substackcdn.com/image/fetch/$s_!MEBR!,w_1456,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F6774f4e4-bf7e-405b-a7df-cf628df1b25b_734x1016.png 1456w" sizes="100vw"><img src="https://bucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com/public/images/6774f4e4-bf7e-405b-a7df-cf628df1b25b_734x1016.png" width="498" height="689.3297002724796" data-attrs="{"src":"https://bucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com/public/images/6774f4e4-bf7e-405b-a7df-cf628df1b25b_734x1016.png","srcNoWatermark":null,"fullscreen":null,"imageSize":null,"height":1016,"width":734,"resizeWidth":498,"bytes":1400618,"alt":null,"title":null,"type":"image/png","href":null,"belowTheFold":true,"topImage":false,"internalRedirect":null,"isProcessing":false,"align":null,"offset":false}" class="sizing-normal" alt="" srcset="https://substackcdn.com/image/fetch/$s_!MEBR!,w_424,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F6774f4e4-bf7e-405b-a7df-cf628df1b25b_734x1016.png 424w, https://substackcdn.com/image/fetch/$s_!MEBR!,w_848,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F6774f4e4-bf7e-405b-a7df-cf628df1b25b_734x1016.png 848w, https://substackcdn.com/image/fetch/$s_!MEBR!,w_1272,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F6774f4e4-bf7e-405b-a7df-cf628df1b25b_734x1016.png 1272w, https://substackcdn.com/image/fetch/$s_!MEBR!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F6774f4e4-bf7e-405b-a7df-cf628df1b25b_734x1016.png 1456w" sizes="100vw" loading="lazy"></picture><div class="image-link-expand"><div class="pencraft pc-display-flex pc-gap-8 pc-reset"><div class="pencraft pc-reset icon-container restack-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-refresh-cw"><path d="M3 12a9 9 0 0 1 9-9 9.75 9.75 0 0 1 6.74 2.74L21 8"></path><path d="M21 3v5h-5"></path><path d="M21 12a9 9 0 0 1-9 9 9.75 9.75 0 0 1-6.74-2.74L3 16"></path><path d="M8 16H3v5"></path></svg></div><div class="pencraft pc-reset icon-container view-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></div></div></div></div></a></figure></div><p>Lately, I’ve been getting into <strong>Alex Doherty’s fabulous podcast</strong> series Politics Theory Other. Consider subscribing on <a href="https://www.patreon.com/poltheoryother/posts">Patreon</a>. This <a href="https://www.patreon.com/posts/enoch-powell-w-49819192">episode</a> with Robbie Shilliam on Enoch Powell as Britain’s first neoliberal politicians is outstanding.</p><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!xNb-!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F6df807f3-6c9b-40b6-8a20-8288bf91464c_304x302.png" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!xNb-!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F6df807f3-6c9b-40b6-8a20-8288bf91464c_304x302.png 424w, https://substackcdn.com/image/fetch/$s_!xNb-!,w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F6df807f3-6c9b-40b6-8a20-8288bf91464c_304x302.png 848w, https://substackcdn.com/image/fetch/$s_!xNb-!,w_1272,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F6df807f3-6c9b-40b6-8a20-8288bf91464c_304x302.png 1272w, https://substackcdn.com/image/fetch/$s_!xNb-!,w_1456,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F6df807f3-6c9b-40b6-8a20-8288bf91464c_304x302.png 1456w" sizes="100vw"><img src="https://bucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com/public/images/6df807f3-6c9b-40b6-8a20-8288bf91464c_304x302.png" width="304" height="302" data-attrs="{"src":"https://bucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com/public/images/6df807f3-6c9b-40b6-8a20-8288bf91464c_304x302.png","srcNoWatermark":null,"fullscreen":null,"imageSize":null,"height":302,"width":304,"resizeWidth":null,"bytes":101137,"alt":null,"title":null,"type":"image/png","href":null,"belowTheFold":true,"topImage":false,"internalRedirect":null,"isProcessing":false,"align":null,"offset":false}" class="sizing-normal" alt="" srcset="https://substackcdn.com/image/fetch/$s_!xNb-!,w_424,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F6df807f3-6c9b-40b6-8a20-8288bf91464c_304x302.png 424w, https://substackcdn.com/image/fetch/$s_!xNb-!,w_848,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F6df807f3-6c9b-40b6-8a20-8288bf91464c_304x302.png 848w, https://substackcdn.com/image/fetch/$s_!xNb-!,w_1272,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F6df807f3-6c9b-40b6-8a20-8288bf91464c_304x302.png 1272w, https://substackcdn.com/image/fetch/$s_!xNb-!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F6df807f3-6c9b-40b6-8a20-8288bf91464c_304x302.png 1456w" sizes="100vw" loading="lazy"></picture><div class="image-link-expand"><div class="pencraft pc-display-flex pc-gap-8 pc-reset"><div class="pencraft pc-reset icon-container restack-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-refresh-cw"><path d="M3 12a9 9 0 0 1 9-9 9.75 9.75 0 0 1 6.74 2.74L21 8"></path><path d="M21 3v5h-5"></path><path d="M21 12a9 9 0 0 1-9 9 9.75 9.75 0 0 1-6.74-2.74L3 16"></path><path d="M8 16H3v5"></path></svg></div><div class="pencraft pc-reset icon-container view-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></div></div></div></div></a></figure></div><p><strong>Weirdest link</strong>: <a href="https://www.ft.com/content/3263fab2-a026-46b5-aea2-58cc318cc2ea">“Sex with Stalin”</a>, the <em>FT</em>’s Tom Faber on the crazy world of Russian video games. </p><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!VMMH!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F9597e926-37fc-4cd0-b35d-3ca30145a807_1292x726.png" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!VMMH!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F9597e926-37fc-4cd0-b35d-3ca30145a807_1292x726.png 424w, https://substackcdn.com/image/fetch/$s_!VMMH!,w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F9597e926-37fc-4cd0-b35d-3ca30145a807_1292x726.png 848w, https://substackcdn.com/image/fetch/$s_!VMMH!,w_1272,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F9597e926-37fc-4cd0-b35d-3ca30145a807_1292x726.png 1272w, https://substackcdn.com/image/fetch/$s_!VMMH!,w_1456,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F9597e926-37fc-4cd0-b35d-3ca30145a807_1292x726.png 1456w" sizes="100vw"><img src="https://bucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com/public/images/9597e926-37fc-4cd0-b35d-3ca30145a807_1292x726.png" width="1292" height="726" data-attrs="{"src":"https://bucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com/public/images/9597e926-37fc-4cd0-b35d-3ca30145a807_1292x726.png","srcNoWatermark":null,"fullscreen":null,"imageSize":null,"height":726,"width":1292,"resizeWidth":null,"bytes":1026779,"alt":null,"title":null,"type":"image/png","href":null,"belowTheFold":true,"topImage":false,"internalRedirect":null,"isProcessing":false,"align":null,"offset":false}" class="sizing-normal" alt="" srcset="https://substackcdn.com/image/fetch/$s_!VMMH!,w_424,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F9597e926-37fc-4cd0-b35d-3ca30145a807_1292x726.png 424w, https://substackcdn.com/image/fetch/$s_!VMMH!,w_848,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F9597e926-37fc-4cd0-b35d-3ca30145a807_1292x726.png 848w, https://substackcdn.com/image/fetch/$s_!VMMH!,w_1272,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F9597e926-37fc-4cd0-b35d-3ca30145a807_1292x726.png 1272w, https://substackcdn.com/image/fetch/$s_!VMMH!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F9597e926-37fc-4cd0-b35d-3ca30145a807_1292x726.png 1456w" sizes="100vw" loading="lazy"></picture><div class="image-link-expand"><div class="pencraft pc-display-flex pc-gap-8 pc-reset"><div class="pencraft pc-reset icon-container restack-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-refresh-cw"><path d="M3 12a9 9 0 0 1 9-9 9.75 9.75 0 0 1 6.74 2.74L21 8"></path><path d="M21 3v5h-5"></path><path d="M21 12a9 9 0 0 1-9 9 9.75 9.75 0 0 1-6.74-2.74L3 16"></path><path d="M8 16H3v5"></path></svg></div><div class="pencraft pc-reset icon-container view-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></div></div></div></div></a></figure></div><p>Paywalled (probably for the best) but this <a href="https://on.ft.com/2TupY4E">gift link</a> should work for three lucky people.</p><p><strong>Upcoming from me:</strong> look out for a long essay in the <em>New Statesman</em> on China’s 20th century and the struggle for economic development. </p><p>To accompany the <em>New Statesman</em> piece, <em><strong>Chartbook Newsletter #28</strong></em> at the weekend is going to take a deep dive into a fascinating time capsule: The World Bank’s first report on China’s economic and social development in 1983. </p><p><strong>Question of the week</strong>. I was filming a long interview for German public TV channel ZDF today and the director <a href="https://de.wikipedia.org/wiki/Dirk_Laabs">Dirk Laabs</a> asked me a really interesting question:</p><p>“How did the 2008 crisis supercharge the rise of Blackrock?”. </p><p>The question is great because it hits on the hinge between the 1990s and 2000s era of mega banks and the post-2008 era of giant asset managers. If you know anything particularly good to read on the topic, please let me know by putting it in the comments. </p><p>If you’ve enjoyed this post and are looking forward to more Top Links, all you have to do is pick a subscription to Chartbook from the menu. </p><p class="button-wrapper" data-attrs="{"url":"https://adamtooze.substack.com/subscribe?","text":"Subscribe now","action":null,"class":null}" data-component-name="ButtonCreateButton"><a class="button primary" href="https://adamtooze.substack.com/subscribe?"><span>Subscribe now</span></a></p><p>To all of you who already have, a HUGE THANK YOU! </p><p>Onwards, AT</p><!--
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"post_date": "2021-07-21T19:48:50.442Z",
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"title": "Top Links #2 Reading suggestions from Adam Tooze",
"subtitle": "ECB, Guido Morselli and THAT Cummings clip. The regular list of links, exclusive for supporters of Chartbook Newsletter. "
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<p>Hi all,</p><p>I’m grateful that so many people are showing their support for <em>Chartbook Newsletter</em> by signing up as paying subscribers. Thank you!</p><p>To broaden and deepen that community, for paying subscribers, I am going to do regular posts that bring together interesting reading, podcasts and other links. They are called Top Links.</p><p>From August, the Top Links feed will be exclusive for paying subscribers. If you would like to join the <em>Chartbook</em> supporters, hit the button below.</p><p class="button-wrapper" data-attrs="{"url":"https://adamtooze.substack.com/subscribe?","text":"Subscribe now","action":null,"class":null}" data-component-name="ButtonCreateButton"><a class="button primary" href="https://adamtooze.substack.com/subscribe?"><span>Subscribe now</span></a></p><p>Top Links #1 was very well received. </p><p>So, here, somewhat sooner than I anticipated, is Top Links #2. </p><p>*********</p><p>The urgency to get Top Link # 2 out, is all about the timetable of <strong>European Central Bank</strong> monetary policy. Yup. That’s the way we roll …. </p><p>On Thursday 22nd July the ECB will announce fresh guidance on how it intends to implement the new monetary policy Strategy it recently announced. The inflation target now is 2 percent. No more. No less. Given Europe’s recent record of lowflation that will be a challenge. </p><p>Last week I discussed the political logic of the ECB’s <em>Strategic Review</em> in this column for <a href="https://socialeurope.eu/climate-crisis-offers-way-out-of-monetary-orthodoxy">Social Europe</a>.</p><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!sXe3!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F647bf96b-3a9b-4544-96f2-485eca7ad247_2036x1392.png" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!sXe3!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F647bf96b-3a9b-4544-96f2-485eca7ad247_2036x1392.png 424w, https://substackcdn.com/image/fetch/$s_!sXe3!,w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F647bf96b-3a9b-4544-96f2-485eca7ad247_2036x1392.png 848w, https://substackcdn.com/image/fetch/$s_!sXe3!,w_1272,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F647bf96b-3a9b-4544-96f2-485eca7ad247_2036x1392.png 1272w, https://substackcdn.com/image/fetch/$s_!sXe3!,w_1456,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F647bf96b-3a9b-4544-96f2-485eca7ad247_2036x1392.png 1456w" sizes="100vw"><img src="https://bucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com/public/images/647bf96b-3a9b-4544-96f2-485eca7ad247_2036x1392.png" width="1456" height="995" data-attrs="{"src":"https://bucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com/public/images/647bf96b-3a9b-4544-96f2-485eca7ad247_2036x1392.png","srcNoWatermark":null,"fullscreen":null,"imageSize":null,"height":995,"width":1456,"resizeWidth":null,"bytes":811332,"alt":null,"title":null,"type":"image/png","href":null,"belowTheFold":true,"topImage":false,"internalRedirect":null,"isProcessing":false,"align":null,"offset":false}" class="sizing-normal" alt="" srcset="https://substackcdn.com/image/fetch/$s_!sXe3!,w_424,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F647bf96b-3a9b-4544-96f2-485eca7ad247_2036x1392.png 424w, https://substackcdn.com/image/fetch/$s_!sXe3!,w_848,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F647bf96b-3a9b-4544-96f2-485eca7ad247_2036x1392.png 848w, https://substackcdn.com/image/fetch/$s_!sXe3!,w_1272,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F647bf96b-3a9b-4544-96f2-485eca7ad247_2036x1392.png 1272w, https://substackcdn.com/image/fetch/$s_!sXe3!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F647bf96b-3a9b-4544-96f2-485eca7ad247_2036x1392.png 1456w" sizes="100vw" loading="lazy"></picture><div class="image-link-expand"><div class="pencraft pc-display-flex pc-gap-8 pc-reset"><div class="pencraft pc-reset icon-container restack-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-refresh-cw"><path d="M3 12a9 9 0 0 1 9-9 9.75 9.75 0 0 1 6.74 2.74L21 8"></path><path d="M21 3v5h-5"></path><path d="M21 12a9 9 0 0 1-9 9 9.75 9.75 0 0 1-6.74-2.74L3 16"></path><path d="M8 16H3v5"></path></svg></div><div class="pencraft pc-reset icon-container view-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></div></div></div></div></a></figure></div><p><em>Social Europe</em> is a great place to check out progressive, political and social science writing on Europe. </p><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!SlmB!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F1ebecbeb-ede9-459d-a1d5-2d95ae97f9c4_1448x1264.png" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!SlmB!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F1ebecbeb-ede9-459d-a1d5-2d95ae97f9c4_1448x1264.png 424w, https://substackcdn.com/image/fetch/$s_!SlmB!,w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F1ebecbeb-ede9-459d-a1d5-2d95ae97f9c4_1448x1264.png 848w, https://substackcdn.com/image/fetch/$s_!SlmB!,w_1272,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F1ebecbeb-ede9-459d-a1d5-2d95ae97f9c4_1448x1264.png 1272w, https://substackcdn.com/image/fetch/$s_!SlmB!,w_1456,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F1ebecbeb-ede9-459d-a1d5-2d95ae97f9c4_1448x1264.png 1456w" sizes="100vw"><img src="https://bucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com/public/images/1ebecbeb-ede9-459d-a1d5-2d95ae97f9c4_1448x1264.png" width="1448" height="1264" data-attrs="{"src":"https://bucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com/public/images/1ebecbeb-ede9-459d-a1d5-2d95ae97f9c4_1448x1264.png","srcNoWatermark":null,"fullscreen":null,"imageSize":null,"height":1264,"width":1448,"resizeWidth":null,"bytes":344276,"alt":null,"title":null,"type":"image/png","href":null,"belowTheFold":true,"topImage":false,"internalRedirect":null,"isProcessing":false,"align":null,"offset":false}" class="sizing-normal" alt="" srcset="https://substackcdn.com/image/fetch/$s_!SlmB!,w_424,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F1ebecbeb-ede9-459d-a1d5-2d95ae97f9c4_1448x1264.png 424w, https://substackcdn.com/image/fetch/$s_!SlmB!,w_848,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F1ebecbeb-ede9-459d-a1d5-2d95ae97f9c4_1448x1264.png 848w, https://substackcdn.com/image/fetch/$s_!SlmB!,w_1272,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F1ebecbeb-ede9-459d-a1d5-2d95ae97f9c4_1448x1264.png 1272w, https://substackcdn.com/image/fetch/$s_!SlmB!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F1ebecbeb-ede9-459d-a1d5-2d95ae97f9c4_1448x1264.png 1456w" sizes="100vw" loading="lazy"></picture><div class="image-link-expand"><div class="pencraft pc-display-flex pc-gap-8 pc-reset"><div class="pencraft pc-reset icon-container restack-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-refresh-cw"><path d="M3 12a9 9 0 0 1 9-9 9.75 9.75 0 0 1 6.74 2.74L21 8"></path><path d="M21 3v5h-5"></path><path d="M21 12a9 9 0 0 1-9 9 9.75 9.75 0 0 1-6.74-2.74L3 16"></path><path d="M8 16H3v5"></path></svg></div><div class="pencraft pc-reset icon-container view-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></div></div></div></div></a></figure></div><p>There is little doubt that Europe needs more stimulus push. This piece by <a href="https://www.cer.eu/insights/europe-shouldnt-worry-about-inflation">Christian Odendahl</a> of the CER is a wonderfully lucid exposition of the case for Europe to follow the USA in running a “high pressure economy”. @COdendahl is a GREAT twitter follow on all things European economy.</p><p>Odendahl expands on argument made in this typical punchy essay by <a href="https://www.theguardian.com/commentisfree/2021/jul/15/why-does-inflation-worry-the-right-so-much">Mark Blyth</a> in the <em>Guardian. </em>Mark ends with a bang: “beware the rhetoric of inflationary reaction. A perversity thesis joined to naked self-interest should not guide policy, no matter how hard it is to get that folk model out of our heads.”</p><p>Stefan Eich strikes a reflective note in his elegant <a href="https://justmoney.org/s-eich-independence-from-what/">essay</a> on the question of central bank independence - “Independent from What?” - for the excellent website <em>Just Money</em>.</p><p>As Stefan remarks, about recent historical writing on central banks: “This longer and altogether more political history serves as an important reminder that the status of central banks is not primarily a technical or even an economic question, but one that touches on fundamental questions of constitutional rule, as well as our conception of democracy and our theory of the modern state as both an agent and a site of contemporary capitalism. All these strands converge, I want to suggest, in the question: independence from what?”</p><p>Stefan’s new book on political theory and money is <a href="https://www.stefaneich.com/books">forthcoming from Princeton</a> in 2022.</p><p>Back to this week! For a good explanation of what is at stake in the ECB’s announcement on Thursday, see this <a href="https://www.ft.com/content/2cf6e9bd-797a-4666-a742-470c292f1fb7">FT piece</a>. Anticipating more sustained intervention by the ECB in pursuit of their 2 percent inflation target, demand for European bonds has rallied and yields have fallen. </p><p>***********</p><p>Having finished <em>Shutdown</em> a few months ago, I have been coaxed myself back into a regular habit of reading fiction. It has been a long time. I do tend to prefer stuff with a historical/political angle. </p><p>I just finished this by Guido Morselli. </p><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!ZnQv!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F002655bd-4126-435a-9bd8-14d0bc918f50_810x1238.png" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!ZnQv!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F002655bd-4126-435a-9bd8-14d0bc918f50_810x1238.png 424w, https://substackcdn.com/image/fetch/$s_!ZnQv!,w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F002655bd-4126-435a-9bd8-14d0bc918f50_810x1238.png 848w, https://substackcdn.com/image/fetch/$s_!ZnQv!,w_1272,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F002655bd-4126-435a-9bd8-14d0bc918f50_810x1238.png 1272w, https://substackcdn.com/image/fetch/$s_!ZnQv!,w_1456,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F002655bd-4126-435a-9bd8-14d0bc918f50_810x1238.png 1456w" sizes="100vw"><img src="https://bucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com/public/images/002655bd-4126-435a-9bd8-14d0bc918f50_810x1238.png" width="810" height="1238" data-attrs="{"src":"https://bucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com/public/images/002655bd-4126-435a-9bd8-14d0bc918f50_810x1238.png","srcNoWatermark":null,"fullscreen":null,"imageSize":null,"height":1238,"width":810,"resizeWidth":null,"bytes":1749019,"alt":null,"title":null,"type":"image/png","href":null,"belowTheFold":true,"topImage":false,"internalRedirect":null,"isProcessing":false,"align":null,"offset":false}" class="sizing-normal" alt="" srcset="https://substackcdn.com/image/fetch/$s_!ZnQv!,w_424,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F002655bd-4126-435a-9bd8-14d0bc918f50_810x1238.png 424w, https://substackcdn.com/image/fetch/$s_!ZnQv!,w_848,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F002655bd-4126-435a-9bd8-14d0bc918f50_810x1238.png 848w, https://substackcdn.com/image/fetch/$s_!ZnQv!,w_1272,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F002655bd-4126-435a-9bd8-14d0bc918f50_810x1238.png 1272w, https://substackcdn.com/image/fetch/$s_!ZnQv!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F002655bd-4126-435a-9bd8-14d0bc918f50_810x1238.png 1456w" sizes="100vw" loading="lazy"></picture><div class="image-link-expand"><div class="pencraft pc-display-flex pc-gap-8 pc-reset"><div class="pencraft pc-reset icon-container restack-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-refresh-cw"><path d="M3 12a9 9 0 0 1 9-9 9.75 9.75 0 0 1 6.74 2.74L21 8"></path><path d="M21 3v5h-5"></path><path d="M21 12a9 9 0 0 1-9 9 9.75 9.75 0 0 1-6.74-2.74L3 16"></path><path d="M8 16H3v5"></path></svg></div><div class="pencraft pc-reset icon-container view-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></div></div></div></div></a></figure></div><p>https://www.nyrb.com/products/the-communist-1?variant=31044721991</p><p>The blurb from the <em>NYRB</em> is good: </p><p>“Walter Ferranini has been born and bred a man of the left. His father was a worker and an anarchist; Walter himself is a Communist. In the 1930s, he left Mussolini’s Italy to fight Franco in Spain. After Franco’s victory, he left Spain for exile in the United States. With the end of the war, he returned to Italy to work as a labor organizer and to build a new revolutionary order. Now, in the late 1950s, Walter is a deputy in the Italian parliament.<br><br>He is not happy about it. Parliamentary proceedings are too boring for words: the Communist Party seems to be filling up with ward heelers, timeservers, and profiteers. For Walter, the political has always taken precedence over the personal, but now there seems to be no refuge for him anywhere. The puritanical party disapproves of his relationship with Nuccia, a tender, quizzical, deeply intelligent editor who is separated but not divorced, while Walter is worried about his health, haunted by his past, and increasingly troubled by knotty questions of both theory and practice. Walter is, always has been, and always will be a Communist, he has no doubt about that, and yet something has changed. Communism no longer explains the life he is living, the future he hoped for, or, perhaps most troubling of all, the life he has led.”</p><p>Its downbeat, low-key stuff. But it is fascinating about the culture of the Italian Communist Party in the phase of de-Stalinization and fascinating as a character sketch of a party man wrestling with his faith and his own critical understanding and experience of reality. </p><p>******</p><p>One of my favorite podcast listens of the last few weeks was Jordan Schneider’s <a href="https://www.lawfareblog.com/chinatalk-chinas-solar-industry-and-forced-labor">China Talk</a> session about solar power. They didnt go too deep on the forced labour issue. But the info here on polysilicates was outstanding.</p><p>*******</p><p>Top of the <strong>weird lis</strong>t for this issue is definitely this snippet from the BBC interview with the ghastly Dominic Cummings. His explanation of his plan to oust Boris Johnson as British PM just days after his 2019 election victory, is extraordinary. It’s like a demented schoolboy playing at “Machiavel” with the characteristic shoulder-shrugging cynicism of “well that’s just politics”. </p><div data-component-name="Twitter2ToDOM" class="tweet" data-attrs="{"url":"https://twitter.com/BBCBreaking/status/1417515644749336576?s=20","full_text":"Dominic Cummings reveals he discussed removing Boris Johnson as prime minister, within days of the Conservatives winning the December 2019 general election\n\n","username":"BBCBreaking","name":"BBC Breaking News","date":"Tue Jul 20 16:04:00 +0000 2021","photos":[],"quoted_tweet":{},"retweet_count":295,"like_count":842,"expanded_url":{"url":"https://bbc.in/3rv7NbC","image":"https://bucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com/public/images/8dfcce3d-4694-424f-8188-804e60433ab6_1024x576.jpeg","title":"Dominic Cummings: I discussed ousting PM after 2019 election landslide","description":"Boris Johnson’s former aide says Downing Street rifts developed within days of a landslide victory.","domain":"bbc.in"},"video_url":null,"belowTheFold":true}"><a class="tweet-link-top" href="https://twitter.com/BBCBreaking/status/1417515644749336576?s=20" target="_blank"><div class="tweet-header"><img class="tweet-header-avatar" src="https://substackcdn.com/image/twitter_name/w_96/BBCBreaking.jpg" alt="Twitter avatar for @BBCBreaking" loading="lazy"><div class="tweet-header-text"><span class="tweet-author-name">BBC Breaking News </span><span class="tweet-author-handle">@BBCBreaking</span></div></div><div class="tweet-text">Dominic Cummings reveals he discussed removing Boris Johnson as prime minister, within days of the Conservatives winning the December 2019 general election
</div><a class="expanded-link" href="https://bbc.in/3rv7NbC" target="_blank"><img src="https://bucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com/public/images/8dfcce3d-4694-424f-8188-804e60433ab6_1024x576.jpeg" class="expanded-link-img" loading="lazy"><div class="expanded-link-bottom"><span class="expanded-link-domain">bbc.in</span><span class="expanded-link-title">Dominic Cummings: I discussed ousting PM after 2019 election landslide</span><span class="expanded-link-description">Boris Johnson’s former aide says Downing Street rifts developed within days of a landslide victory.</span></div></a></a><a class="tweet-link-bottom" href="https://twitter.com/BBCBreaking/status/1417515644749336576?s=20" target="_blank"><div class="tweet-footer"><span class="tweet-date">4:04 PM ∙ Jul 20, 2021</span><hr><div class="tweet-ufi"><span href="https://twitter.com/BBCBreaking/status/1417515644749336576?s=20/likes" class="likes"><span class="like-count">842</span>Likes</span><span href="https://twitter.com/BBCBreaking/status/1417515644749336576?s=20/retweets" class="retweets"><span class="rt-count">295</span>Retweets</span></div></div></a></div><p></p><p>****** </p><p>In Top Links # 1 I invited <strong>readers to suggest</strong> reading and links that might appeal to the group. To my delight, several obliged with great suggestions. </p><p><strong><a href="https://substack.com/profile/19303548-dziga-lumiere">Dziga Lumière</a> suggested this haunting <a href="https://newlinesmag.com/essays/the-philosophers-wine/">piece</a> in </strong><em><strong>New Lines Magazine</strong></em><strong>, a publication I really like, on an opposition fighter in Syria. “</strong>The Philosopher’s Wine. Between the euphoria of revolution and the despair of exile, a Syrian finds solace in Sadiq Jalal al-Azm’s wine”. Brilliant writing by <a href="https://newlinesmag.com/writers/nick-foretek/">Nick Foretek</a>. </p><p><a href="https://substack.com/profile/4005161-robin-sloan">Robin Sloan</a> made a wonderful sounding suggestion: “As someone who has never really been able to make time or space for podcasts, my continued engagement with John Zhu's rollicking retelling of Water Margin (a.k.a. Outlaws of the Marsh, a.k.a. one of the Four Great Classical Novels of China) has been a surprise. The informality & looseness of his presentation is totally winning: <a href="http://www.outlawsofthemarsh.com/">http://www.outlawsofthemarsh.com/</a> </p><p>I havent had the chance to check this out yet, but it sounds fabulous. </p><p>Keep them coming.</p><p>And sign up. </p><p class="button-wrapper" data-attrs="{"url":"https://adamtooze.substack.com/subscribe?","text":"Subscribe now","action":null,"class":null}" data-component-name="ButtonCreateButton"><a class="button primary" href="https://adamtooze.substack.com/subscribe?"><span>Subscribe now</span></a></p><p>A bientôt.</p><p>AT</p><p></p><!--
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"type": "newsletter",
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"title": "Top Links for Chartbook subscribers #3",
"subtitle": "Samurai unchained, RIP China's \"Mr Millions\" and the Queen was quite curious about Saddam! "
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<p class="button-wrapper" data-attrs="{"url":"https://adamtooze.substack.com/subscribe?","text":"Subscribe now","action":null,"class":null}" data-component-name="ButtonCreateButton"><a class="button primary" href="https://adamtooze.substack.com/subscribe?"><span>Subscribe now</span></a></p><p>This is Top Links #3, the “news service” for Chartbook Subscribers. </p><p>The links in this issue will take you deep into Brexit Britain, into the maze of US energy consumption and inside the mind of Europe’s most radical environmental thinkers.</p><p>I love sharing my reading. I think it is a habit I picked up at my grand-parent’s breakfast table, which was always strewn with newspapers, generally from several countries. People were constantly passing stories back and forth across the table. “Have you seen this …?”. “Wow this <em>IS</em> a catty review …!”. “Why is so and so always so excited about China …?” etc. It was serious in intent. But it was also a bit of a game. Everyone could take part. Children, guests, but if you broke the silence, if you proffered a story, it did have to be good. The sessions could go on for several hours, after which they would retreat to their offices to do more reading and writing. It is clearly, on reflection, where I acquired my habits.</p><p>Anyway, as of August, the Top Links feed will be reserved for paying subscribers. So if you enjoy any of the stuff below, I strongly urge you to sign up for a subscription.</p><p class="button-wrapper" data-attrs="{"url":"https://adamtooze.substack.com/subscribe?","text":"Subscribe now","action":null,"class":null}" data-component-name="ButtonCreateButton"><a class="button primary" href="https://adamtooze.substack.com/subscribe?"><span>Subscribe now</span></a></p><p>There are three options:</p><ol><li><p>The <strong>annual subscription: $50 annually</strong></p></li><li><p>The <strong>standard monthly subscription: $5 monthly -</strong> which gives you a bit more flexibility.</p></li><li><p><strong>Founders club:$ 120 annua</strong>lly, or another amount at your discretion - for those who really love Chartbook Newsletter, or read it in a professional setting in which you regularly pay for subscriptions, please consider signing up for the <strong>Founders Club</strong>. </p></li></ol><p><strong>Top Links #3</strong></p><p><strong>Carbon Pricing</strong></p><p>Following last week’s <a href="https://adamtooze.substack.com/p/chartbook-newsletter-27-gilets-jaunes">Chartbook #27</a> on the Gilet Jaunes, I got into some interesting debates online about carbon pricing. This skeptical paper by <a href="https://www.ineteconomics.org/perspectives/blog/carbon-pricing-isnt-effective-at-reducing-co2-emissions">Lance Taylor</a> at INET has some beautiful and staggering graphs about energy flow through the US economy: </p><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!EU3P!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fbbfe4205-9f27-492e-a5f2-0cc36c837900_1836x1062.png" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!EU3P!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fbbfe4205-9f27-492e-a5f2-0cc36c837900_1836x1062.png 424w, https://substackcdn.com/image/fetch/$s_!EU3P!,w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fbbfe4205-9f27-492e-a5f2-0cc36c837900_1836x1062.png 848w, https://substackcdn.com/image/fetch/$s_!EU3P!,w_1272,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fbbfe4205-9f27-492e-a5f2-0cc36c837900_1836x1062.png 1272w, https://substackcdn.com/image/fetch/$s_!EU3P!,w_1456,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fbbfe4205-9f27-492e-a5f2-0cc36c837900_1836x1062.png 1456w" sizes="100vw"><img src="https://bucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com/public/images/bbfe4205-9f27-492e-a5f2-0cc36c837900_1836x1062.png" width="1456" height="842" data-attrs="{"src":"https://bucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com/public/images/bbfe4205-9f27-492e-a5f2-0cc36c837900_1836x1062.png","srcNoWatermark":null,"fullscreen":null,"imageSize":null,"height":842,"width":1456,"resizeWidth":null,"bytes":478464,"alt":null,"title":null,"type":"image/png","href":null,"belowTheFold":true,"topImage":false,"internalRedirect":null,"isProcessing":false,"align":null,"offset":false}" class="sizing-normal" alt="" srcset="https://substackcdn.com/image/fetch/$s_!EU3P!,w_424,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fbbfe4205-9f27-492e-a5f2-0cc36c837900_1836x1062.png 424w, https://substackcdn.com/image/fetch/$s_!EU3P!,w_848,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fbbfe4205-9f27-492e-a5f2-0cc36c837900_1836x1062.png 848w, https://substackcdn.com/image/fetch/$s_!EU3P!,w_1272,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fbbfe4205-9f27-492e-a5f2-0cc36c837900_1836x1062.png 1272w, https://substackcdn.com/image/fetch/$s_!EU3P!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fbbfe4205-9f27-492e-a5f2-0cc36c837900_1836x1062.png 1456w" sizes="100vw" loading="lazy"></picture><div class="image-link-expand"><div class="pencraft pc-display-flex pc-gap-8 pc-reset"><div class="pencraft pc-reset icon-container restack-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-refresh-cw"><path d="M3 12a9 9 0 0 1 9-9 9.75 9.75 0 0 1 6.74 2.74L21 8"></path><path d="M21 3v5h-5"></path><path d="M21 12a9 9 0 0 1-9 9 9.75 9.75 0 0 1-6.74-2.74L3 16"></path><path d="M8 16H3v5"></path></svg></div><div class="pencraft pc-reset icon-container view-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></div></div></div></div></a></figure></div><p><strong>China</strong></p><p>Its been a bit of a China month: My long Read for <a href="https://twitter.com/NewStatesman/">@NewStatesman</a> on China’s struggle for Econ development is <a href="https://www.newstatesman.com/international/places/2021/07/why-there-no-solution-our-age-crisis-without-china">here</a>.</p><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!a_9e!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F9757d19f-40cc-4f98-9f8e-b025b4677ad2_2854x1412.png" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!a_9e!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F9757d19f-40cc-4f98-9f8e-b025b4677ad2_2854x1412.png 424w, https://substackcdn.com/image/fetch/$s_!a_9e!,w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F9757d19f-40cc-4f98-9f8e-b025b4677ad2_2854x1412.png 848w, https://substackcdn.com/image/fetch/$s_!a_9e!,w_1272,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F9757d19f-40cc-4f98-9f8e-b025b4677ad2_2854x1412.png 1272w, https://substackcdn.com/image/fetch/$s_!a_9e!,w_1456,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F9757d19f-40cc-4f98-9f8e-b025b4677ad2_2854x1412.png 1456w" sizes="100vw"><img src="https://bucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com/public/images/9757d19f-40cc-4f98-9f8e-b025b4677ad2_2854x1412.png" width="1456" height="720" data-attrs="{"src":"https://bucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com/public/images/9757d19f-40cc-4f98-9f8e-b025b4677ad2_2854x1412.png","srcNoWatermark":null,"fullscreen":null,"imageSize":null,"height":720,"width":1456,"resizeWidth":null,"bytes":1925788,"alt":null,"title":null,"type":"image/png","href":null,"belowTheFold":true,"topImage":false,"internalRedirect":null,"isProcessing":false,"align":null,"offset":false}" class="sizing-normal" alt="" srcset="https://substackcdn.com/image/fetch/$s_!a_9e!,w_424,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F9757d19f-40cc-4f98-9f8e-b025b4677ad2_2854x1412.png 424w, https://substackcdn.com/image/fetch/$s_!a_9e!,w_848,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F9757d19f-40cc-4f98-9f8e-b025b4677ad2_2854x1412.png 848w, https://substackcdn.com/image/fetch/$s_!a_9e!,w_1272,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F9757d19f-40cc-4f98-9f8e-b025b4677ad2_2854x1412.png 1272w, https://substackcdn.com/image/fetch/$s_!a_9e!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F9757d19f-40cc-4f98-9f8e-b025b4677ad2_2854x1412.png 1456w" sizes="100vw" loading="lazy"></picture><div class="image-link-expand"><div class="pencraft pc-display-flex pc-gap-8 pc-reset"><div class="pencraft pc-reset icon-container restack-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-refresh-cw"><path d="M3 12a9 9 0 0 1 9-9 9.75 9.75 0 0 1 6.74 2.74L21 8"></path><path d="M21 3v5h-5"></path><path d="M21 12a9 9 0 0 1-9 9 9.75 9.75 0 0 1-6.74-2.74L3 16"></path><path d="M8 16H3v5"></path></svg></div><div class="pencraft pc-reset icon-container view-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></div></div></div></div></a></figure></div><p>It pairs with Chartbook #26 on China’s hyperinflation and Chartbook #28 on China as seen by the <a href="https://twitter.com/WorldBank/">@WorldBank</a> in 1983.</p><p>As <a href="https://www.ft.com/content/9ce326b2-abdb-467b-bfd1-425a499066c1">Kathrin Hille</a> of the FT points out, rising tension with China is opening the door to a more hawkish security policy on the part of Japan. And Japan’s latest defense <a href="https://www.mod.go.jp/en/publ/w_paper/wp2021/DOJ2021_Digest_EN.pdf">White Paper</a> certainly comes on strong.</p><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!TflO!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fdfde16eb-c796-42ea-b9ba-4c3c5d49ecff_812x1152.png" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!TflO!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fdfde16eb-c796-42ea-b9ba-4c3c5d49ecff_812x1152.png 424w, https://substackcdn.com/image/fetch/$s_!TflO!,w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fdfde16eb-c796-42ea-b9ba-4c3c5d49ecff_812x1152.png 848w, https://substackcdn.com/image/fetch/$s_!TflO!,w_1272,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fdfde16eb-c796-42ea-b9ba-4c3c5d49ecff_812x1152.png 1272w, https://substackcdn.com/image/fetch/$s_!TflO!,w_1456,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fdfde16eb-c796-42ea-b9ba-4c3c5d49ecff_812x1152.png 1456w" sizes="100vw"><img src="https://bucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com/public/images/dfde16eb-c796-42ea-b9ba-4c3c5d49ecff_812x1152.png" width="506" height="717.871921182266" data-attrs="{"src":"https://bucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com/public/images/dfde16eb-c796-42ea-b9ba-4c3c5d49ecff_812x1152.png","srcNoWatermark":null,"fullscreen":null,"imageSize":null,"height":1152,"width":812,"resizeWidth":506,"bytes":1060919,"alt":null,"title":null,"type":"image/png","href":null,"belowTheFold":true,"topImage":false,"internalRedirect":null,"isProcessing":false,"align":null,"offset":false}" class="sizing-normal" alt="" srcset="https://substackcdn.com/image/fetch/$s_!TflO!,w_424,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fdfde16eb-c796-42ea-b9ba-4c3c5d49ecff_812x1152.png 424w, https://substackcdn.com/image/fetch/$s_!TflO!,w_848,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fdfde16eb-c796-42ea-b9ba-4c3c5d49ecff_812x1152.png 848w, https://substackcdn.com/image/fetch/$s_!TflO!,w_1272,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fdfde16eb-c796-42ea-b9ba-4c3c5d49ecff_812x1152.png 1272w, https://substackcdn.com/image/fetch/$s_!TflO!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fdfde16eb-c796-42ea-b9ba-4c3c5d49ecff_812x1152.png 1456w" sizes="100vw" loading="lazy"></picture><div class="image-link-expand"><div class="pencraft pc-display-flex pc-gap-8 pc-reset"><div class="pencraft pc-reset icon-container restack-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-refresh-cw"><path d="M3 12a9 9 0 0 1 9-9 9.75 9.75 0 0 1 6.74 2.74L21 8"></path><path d="M21 3v5h-5"></path><path d="M21 12a9 9 0 0 1-9 9 9.75 9.75 0 0 1-6.74-2.74L3 16"></path><path d="M8 16H3v5"></path></svg></div><div class="pencraft pc-reset icon-container view-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></div></div></div></div></a></figure></div><p>Inside, frankly, its largely pablum. </p><p>Meanwhile, the obituaries have been coming out for "Yang Baiwan, Millions Yang” - one of China’s original stock market speculators. Apparently he "liked the old saying that the first man to suppose a crab might be edible was either very forward-looking or very hungry. -> Learn from those who have the courage to eat crab". I like it! </p><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!p9_D!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Feddb5964-a640-4885-ba10-925f3b141bb9_1576x1054.png" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!p9_D!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Feddb5964-a640-4885-ba10-925f3b141bb9_1576x1054.png 424w, https://substackcdn.com/image/fetch/$s_!p9_D!,w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Feddb5964-a640-4885-ba10-925f3b141bb9_1576x1054.png 848w, https://substackcdn.com/image/fetch/$s_!p9_D!,w_1272,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Feddb5964-a640-4885-ba10-925f3b141bb9_1576x1054.png 1272w, https://substackcdn.com/image/fetch/$s_!p9_D!,w_1456,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Feddb5964-a640-4885-ba10-925f3b141bb9_1576x1054.png 1456w" sizes="100vw"><img src="https://bucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com/public/images/eddb5964-a640-4885-ba10-925f3b141bb9_1576x1054.png" width="1456" height="974" data-attrs="{"src":"https://bucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com/public/images/eddb5964-a640-4885-ba10-925f3b141bb9_1576x1054.png","srcNoWatermark":null,"fullscreen":null,"imageSize":null,"height":974,"width":1456,"resizeWidth":null,"bytes":1774984,"alt":null,"title":null,"type":"image/png","href":null,"belowTheFold":true,"topImage":false,"internalRedirect":null,"isProcessing":false,"align":null,"offset":false}" class="sizing-normal" alt="" srcset="https://substackcdn.com/image/fetch/$s_!p9_D!,w_424,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Feddb5964-a640-4885-ba10-925f3b141bb9_1576x1054.png 424w, https://substackcdn.com/image/fetch/$s_!p9_D!,w_848,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Feddb5964-a640-4885-ba10-925f3b141bb9_1576x1054.png 848w, https://substackcdn.com/image/fetch/$s_!p9_D!,w_1272,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Feddb5964-a640-4885-ba10-925f3b141bb9_1576x1054.png 1272w, https://substackcdn.com/image/fetch/$s_!p9_D!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Feddb5964-a640-4885-ba10-925f3b141bb9_1576x1054.png 1456w" sizes="100vw" loading="lazy"></picture><div class="image-link-expand"><div class="pencraft pc-display-flex pc-gap-8 pc-reset"><div class="pencraft pc-reset icon-container restack-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-refresh-cw"><path d="M3 12a9 9 0 0 1 9-9 9.75 9.75 0 0 1 6.74 2.74L21 8"></path><path d="M21 3v5h-5"></path><path d="M21 12a9 9 0 0 1-9 9 9.75 9.75 0 0 1-6.74-2.74L3 16"></path><path d="M8 16H3v5"></path></svg></div><div class="pencraft pc-reset icon-container view-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></div></div></div></div></a></figure></div><p>Source: <a href="https://inf.news/en/history/466488f3276be1080a3a362fb656a703.html">INF.news</a></p><p>“As a teenager, born in “new China” under the red flag, he had been a Red Guard, struggling gamely to enforce a traffic edict in Shanghai that revolutionary red meant “Go”, not “Stop”.” As is often the case, the <a href="https://www.economist.com/obituary/2021/07/24/yang-huaiding-died-on-june-13th">Economist obituary </a>is fantastic.</p><p>One of the recurring China scare stories concerns the hugely over-leveraged Evergrande property developer. If you follow this story, this punchy thread by Alex Turnbull gives you a contrarian take. </p><div data-component-name="Twitter2ToDOM" class="tweet" data-attrs="{"url":"https://twitter.com/alexbhturnbull/status/1417828704357548039","full_text":"Ok on <span class=\"tweet-fake-link\">#Evergrande</span> I'm going to make a few suggestions:\n1) This isn't China's 2008 moment. \n2) This is actually entirely consistent with the tech crackdown. \n3) There is a likely state where HY bonds get restructured / crammed, equity hit very hard and all in.... doesn't matter.","username":"alexbhturnbull","name":"Alex Turnbull","date":"Wed Jul 21 12:47:59 +0000 2021","photos":[],"quoted_tweet":{},"retweet_count":3,"like_count":18,"expanded_url":{},"video_url":null,"belowTheFold":true}"><a class="tweet-link-top" href="https://twitter.com/alexbhturnbull/status/1417828704357548039" target="_blank"><div class="tweet-header"><img class="tweet-header-avatar" src="https://substackcdn.com/image/twitter_name/w_96/alexbhturnbull.jpg" alt="Twitter avatar for @alexbhturnbull" loading="lazy"><div class="tweet-header-text"><span class="tweet-author-name">Alex Turnbull </span><span class="tweet-author-handle">@alexbhturnbull</span></div></div><div class="tweet-text">Ok on <span class="tweet-fake-link">#Evergrande</span> I'm going to make a few suggestions:
1) This isn't China's 2008 moment.
2) This is actually entirely consistent with the tech crackdown.
3) There is a likely state where HY bonds get restructured / crammed, equity hit very hard and all in.... doesn't matter.</div></a><a class="tweet-link-bottom" href="https://twitter.com/alexbhturnbull/status/1417828704357548039" target="_blank"><div class="tweet-footer"><span class="tweet-date">12:47 PM ∙ Jul 21, 2021</span><hr><div class="tweet-ufi"><span href="https://twitter.com/alexbhturnbull/status/1417828704357548039/likes" class="likes"><span class="like-count">18</span>Likes</span><span href="https://twitter.com/alexbhturnbull/status/1417828704357548039/retweets" class="retweets"><span class="rt-count">3</span>Retweets</span></div></div></a></div><p><strong>Brexit Britain</strong></p><p>It has been a bumper period for speculation about what makes <strong>Brexit Britain tick.</strong></p><p>My selection of good reads would include <a href="https://newleftreview.org/sidecar/posts/only-joking">Will Davies </a>on the <em>New Left Review</em> blog on the <em>Spectator</em> set. <a href="https://www.geoffmulgan.com/post/spectators-v-doers-the-challenge-for-the-uk-s-ruling-clique">Geoff Mulgan</a> also on the <em>Spectator</em> set. The <em>Spectator</em> is pivotal because Boris Johnson was its editor rom 1999 to 2005 and it is thought to have set the tone for the subsequent degeneration of the Tory party. </p><p>For the background in Britain’s political economy, I still love this piece from <a href="https://www.theguardian.com/commentisfree/2019/oct/09/brexit-crisis-global-capitalism-britain-place-world">David Edgerton</a> back in 2019. </p><p>On the Northern Irish deal <a href="https://www.theguardian.com/commentisfree/2021/jul/23/northern-ireland-protocol-boris-johnson-oven-ready-deal-sausage">Fintan O’Toole</a> in the <em>Guardian</em> is simply devastating.</p><p>And for excellent hard hitting blogging on the on-going Brexit saga see <a href="https://chrisgreybrexitblog.blogspot.com/2021/07/the-frost-johnson-approach-has-already.html">Chris Grey</a>. </p><p><strong>How to blow up a pipeline</strong></p><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!Sx8z!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fdec50f77-67a8-4f60-80be-98c91733f568_608x916.png" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!Sx8z!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fdec50f77-67a8-4f60-80be-98c91733f568_608x916.png 424w, https://substackcdn.com/image/fetch/$s_!Sx8z!,w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fdec50f77-67a8-4f60-80be-98c91733f568_608x916.png 848w, https://substackcdn.com/image/fetch/$s_!Sx8z!,w_1272,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fdec50f77-67a8-4f60-80be-98c91733f568_608x916.png 1272w, https://substackcdn.com/image/fetch/$s_!Sx8z!,w_1456,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fdec50f77-67a8-4f60-80be-98c91733f568_608x916.png 1456w" sizes="100vw"><img src="https://bucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com/public/images/dec50f77-67a8-4f60-80be-98c91733f568_608x916.png" width="324" height="488.13157894736844" data-attrs="{"src":"https://bucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com/public/images/dec50f77-67a8-4f60-80be-98c91733f568_608x916.png","srcNoWatermark":null,"fullscreen":null,"imageSize":null,"height":916,"width":608,"resizeWidth":324,"bytes":659449,"alt":null,"title":null,"type":"image/png","href":null,"belowTheFold":true,"topImage":false,"internalRedirect":null,"isProcessing":false,"align":null,"offset":false}" class="sizing-normal" alt="" srcset="https://substackcdn.com/image/fetch/$s_!Sx8z!,w_424,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fdec50f77-67a8-4f60-80be-98c91733f568_608x916.png 424w, https://substackcdn.com/image/fetch/$s_!Sx8z!,w_848,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fdec50f77-67a8-4f60-80be-98c91733f568_608x916.png 848w, https://substackcdn.com/image/fetch/$s_!Sx8z!,w_1272,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fdec50f77-67a8-4f60-80be-98c91733f568_608x916.png 1272w, https://substackcdn.com/image/fetch/$s_!Sx8z!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fdec50f77-67a8-4f60-80be-98c91733f568_608x916.png 1456w" sizes="100vw" loading="lazy"></picture><div class="image-link-expand"><div class="pencraft pc-display-flex pc-gap-8 pc-reset"><div class="pencraft pc-reset icon-container restack-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-refresh-cw"><path d="M3 12a9 9 0 0 1 9-9 9.75 9.75 0 0 1 6.74 2.74L21 8"></path><path d="M21 3v5h-5"></path><path d="M21 12a9 9 0 0 1-9 9 9.75 9.75 0 0 1-6.74-2.74L3 16"></path><path d="M8 16H3v5"></path></svg></div><div class="pencraft pc-reset icon-container view-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></div></div></div></div></a></figure></div><p>I dont share the politics of left-thinker and environmental activist Andreas Malm, but I really admire his historical creativity, his intellectual energy and his eloquence. All of that is on display in this <a href="https://www.versobooks.com/blogs/4787-politics-theory-other-podcast-91-corona-climate-chronic-emergency">great podcast</a> with Alex Doherty at Politics Theory Other. </p><p>One of my projects for August is to write an omnibus review of Malm’s work for LRB. Look out for that in September. </p><p><strong>Wandering through Wages </strong></p><p>One of the things I love about newsletter writing, is the license to meander. I tried to pull together my impressions about this in the updated introduction to <a href="https://adamtooze.substack.com/about">Chartbook</a>.</p><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!xwdi!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F4d98cb2e-33ab-443f-98d6-c791af89c517_1234x826.png" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!xwdi!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F4d98cb2e-33ab-443f-98d6-c791af89c517_1234x826.png 424w, https://substackcdn.com/image/fetch/$s_!xwdi!,w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F4d98cb2e-33ab-443f-98d6-c791af89c517_1234x826.png 848w, https://substackcdn.com/image/fetch/$s_!xwdi!,w_1272,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F4d98cb2e-33ab-443f-98d6-c791af89c517_1234x826.png 1272w, https://substackcdn.com/image/fetch/$s_!xwdi!,w_1456,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F4d98cb2e-33ab-443f-98d6-c791af89c517_1234x826.png 1456w" sizes="100vw"><img src="https://bucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com/public/images/4d98cb2e-33ab-443f-98d6-c791af89c517_1234x826.png" width="1234" height="826" data-attrs="{"src":"https://bucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com/public/images/4d98cb2e-33ab-443f-98d6-c791af89c517_1234x826.png","srcNoWatermark":null,"fullscreen":null,"imageSize":null,"height":826,"width":1234,"resizeWidth":null,"bytes":2134668,"alt":null,"title":null,"type":"image/png","href":null,"belowTheFold":true,"topImage":false,"internalRedirect":null,"isProcessing":false,"align":null,"offset":false}" class="sizing-normal" alt="" srcset="https://substackcdn.com/image/fetch/$s_!xwdi!,w_424,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F4d98cb2e-33ab-443f-98d6-c791af89c517_1234x826.png 424w, https://substackcdn.com/image/fetch/$s_!xwdi!,w_848,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F4d98cb2e-33ab-443f-98d6-c791af89c517_1234x826.png 848w, https://substackcdn.com/image/fetch/$s_!xwdi!,w_1272,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F4d98cb2e-33ab-443f-98d6-c791af89c517_1234x826.png 1272w, https://substackcdn.com/image/fetch/$s_!xwdi!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F4d98cb2e-33ab-443f-98d6-c791af89c517_1234x826.png 1456w" sizes="100vw" loading="lazy"></picture><div class="image-link-expand"><div class="pencraft pc-display-flex pc-gap-8 pc-reset"><div class="pencraft pc-reset icon-container restack-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-refresh-cw"><path d="M3 12a9 9 0 0 1 9-9 9.75 9.75 0 0 1 6.74 2.74L21 8"></path><path d="M21 3v5h-5"></path><path d="M21 12a9 9 0 0 1-9 9 9.75 9.75 0 0 1-6.74-2.74L3 16"></path><path d="M8 16H3v5"></path></svg></div><div class="pencraft pc-reset icon-container view-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></div></div></div></div></a></figure></div><p>Achieving some kind of integration between the various strands of thinking about history, economics, theory, politics I have been engaged in over the decades is the prize. I am coming to think that the indirect approach may work best for me. </p><p>In that vein, this conversation I had with Alex Doherty a while back about <em>Wages of Destruction</em> may be of interest.</p><div class="soundcloud-wrap" data-attrs="{"url":"https://api.soundcloud.com/tracks/463287405","title":"#14 Adam Tooze on Nazi ideology and the German war economy by Politics Theory Other","description":"Adam Tooze joins me to discuss his book 'The Wages of Destruction: The Making and Breaking of the Nazi Economy'. We discussed the entwinement of Nazi ideology and economics, the explanation for the apparent irrationality of German military strategy, the comparative backwardness of the German economy in the pre-war period, and the question of 1930s parallels in the post-financial crash era.","thumbnail_url":"https://i1.sndcdn.com/artworks-000364996824-pp89cx-t500x500.jpg","author_name":"Politics Theory Other","author_url":"https://soundcloud.com/poltheoryother","targetUrl":""}" data-component-name="SoundcloudToDOM"><iframe src="https://w.soundcloud.com/player/?auto_play=false&buying=false&liking=false&download=false&sharing=false&show_artwork=true&show_comments=false&show_playcount=false&show_user=true&hide_related=true&visual=false&start_track=0&url=https%3A%2F%2Fapi.soundcloud.com%2Ftracks%2F463287405" frameborder="0" gesture="media" scrolling="no" allowfullscreen="true"></iframe></div><p><strong>“You are expendable” QEII to ex PM Heath:</strong></p><p>The seventeenth G7 summit was held in London in July, 1991. Her Majesty hosted a function at Buckingham Palace. The gathering included the Duke of Edinburgh, the Prince and Princess of Wales, John Major, George H. W. Bush, François Mitterrand, Helmut Kohl. As Duncan Weldon observed, I dont think I have ever seen the small talk at this kind of event capture in close up like this. Its remarkable …. and the Queen is hilarious! </p><div id="youtube2-T8dQOqCbcT4" class="youtube-wrap" data-attrs="{"videoId":"T8dQOqCbcT4","startTime":null,"endTime":null}" data-component-name="Youtube2ToDOM"><div class="youtube-inner"><iframe src="https://www.youtube-nocookie.com/embed/T8dQOqCbcT4?rel=0&autoplay=0&showinfo=0&enablejsapi=0" frameborder="0" loading="lazy" gesture="media" allow="autoplay; fullscreen" allowautoplay="true" allowfullscreen="true" width="728" height="409"></iframe></div></div><p></p><!--
{
"post_id": "39179526.top-links-for-chartbook-by-adam-tooze",
"post_date": "2021-07-27T10:34:53.013Z",
"is_published": true,
"email_sent_at": "2021-07-27T10:34:53.108Z",
"inbox_sent_at": "2021-07-27T10:34:53.108Z",
"type": "newsletter",
"audience": "only_paid",
"title": "Top Links for Chartbook by Adam Tooze # 4",
"subtitle": "Greening the Fed, Thatcher's inflation pantry and the fate of the Japanese navy. "
}
-->
<p>Welcome to Top Links #4 the news service for Chartbook subscribers. Thank you for your support.</p><p>If you find it valuable, why not considering sharing this post with a friend. </p><p class="button-wrapper" data-attrs="{"url":"https://adamtooze.substack.com/?utm_source=substack&utm_medium=email&utm_content=share&action=share","text":"Share Chartbook","action":null,"class":null}" data-component-name="ButtonCreateButton"><a class="button primary" href="https://adamtooze.substack.com/?utm_source=substack&utm_medium=email&utm_content=share&action=share"><span>Share Chartbook</span></a></p><p>One twitter friend is making good use of his pool time :) The rather elegant cover of the UK edition fits right in! </p><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!Wuv6!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F16b7456c-370c-459c-88fd-800193cdbfe4_1456x820.png" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!Wuv6!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F16b7456c-370c-459c-88fd-800193cdbfe4_1456x820.png 424w, https://substackcdn.com/image/fetch/$s_!Wuv6!,w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F16b7456c-370c-459c-88fd-800193cdbfe4_1456x820.png 848w, https://substackcdn.com/image/fetch/$s_!Wuv6!,w_1272,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F16b7456c-370c-459c-88fd-800193cdbfe4_1456x820.png 1272w, https://substackcdn.com/image/fetch/$s_!Wuv6!,w_1456,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F16b7456c-370c-459c-88fd-800193cdbfe4_1456x820.png 1456w" sizes="100vw"><img src="https://bucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com/public/images/16b7456c-370c-459c-88fd-800193cdbfe4_1456x820.png" width="1456" height="820" data-attrs="{"src":"https://bucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com/public/images/16b7456c-370c-459c-88fd-800193cdbfe4_1456x820.png","srcNoWatermark":null,"fullscreen":null,"imageSize":null,"height":820,"width":1456,"resizeWidth":null,"bytes":2221552,"alt":null,"title":null,"type":"image/png","href":null,"belowTheFold":false,"topImage":true,"internalRedirect":null,"isProcessing":false,"align":null,"offset":false}" class="sizing-normal" alt="" srcset="https://substackcdn.com/image/fetch/$s_!Wuv6!,w_424,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F16b7456c-370c-459c-88fd-800193cdbfe4_1456x820.png 424w, https://substackcdn.com/image/fetch/$s_!Wuv6!,w_848,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F16b7456c-370c-459c-88fd-800193cdbfe4_1456x820.png 848w, https://substackcdn.com/image/fetch/$s_!Wuv6!,w_1272,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F16b7456c-370c-459c-88fd-800193cdbfe4_1456x820.png 1272w, https://substackcdn.com/image/fetch/$s_!Wuv6!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F16b7456c-370c-459c-88fd-800193cdbfe4_1456x820.png 1456w" sizes="100vw" fetchpriority="high"></picture><div class="image-link-expand"><div class="pencraft pc-display-flex pc-gap-8 pc-reset"><div class="pencraft pc-reset icon-container restack-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-refresh-cw"><path d="M3 12a9 9 0 0 1 9-9 9.75 9.75 0 0 1 6.74 2.74L21 8"></path><path d="M21 3v5h-5"></path><path d="M21 12a9 9 0 0 1-9 9 9.75 9.75 0 0 1-6.74-2.74L3 16"></path><path d="M8 16H3v5"></path></svg></div><div class="pencraft pc-reset icon-container view-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></div></div></div></div></a></figure></div><p><strong>The Fed and Green Central Banking</strong></p><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!_YBv!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F76fb66a9-0acd-425f-9273-081320922ad3_2682x1294.png" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!_YBv!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F76fb66a9-0acd-425f-9273-081320922ad3_2682x1294.png 424w, https://substackcdn.com/image/fetch/$s_!_YBv!,w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F76fb66a9-0acd-425f-9273-081320922ad3_2682x1294.png 848w, https://substackcdn.com/image/fetch/$s_!_YBv!,w_1272,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F76fb66a9-0acd-425f-9273-081320922ad3_2682x1294.png 1272w, https://substackcdn.com/image/fetch/$s_!_YBv!,w_1456,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F76fb66a9-0acd-425f-9273-081320922ad3_2682x1294.png 1456w" sizes="100vw"><img src="https://bucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com/public/images/76fb66a9-0acd-425f-9273-081320922ad3_2682x1294.png" width="1456" height="702" data-attrs="{"src":"https://bucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com/public/images/76fb66a9-0acd-425f-9273-081320922ad3_2682x1294.png","srcNoWatermark":null,"fullscreen":null,"imageSize":null,"height":702,"width":1456,"resizeWidth":null,"bytes":664434,"alt":null,"title":null,"type":"image/png","href":null,"belowTheFold":false,"topImage":false,"internalRedirect":null,"isProcessing":false,"align":null,"offset":false}" class="sizing-normal" alt="" srcset="https://substackcdn.com/image/fetch/$s_!_YBv!,w_424,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F76fb66a9-0acd-425f-9273-081320922ad3_2682x1294.png 424w, https://substackcdn.com/image/fetch/$s_!_YBv!,w_848,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F76fb66a9-0acd-425f-9273-081320922ad3_2682x1294.png 848w, https://substackcdn.com/image/fetch/$s_!_YBv!,w_1272,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F76fb66a9-0acd-425f-9273-081320922ad3_2682x1294.png 1272w, https://substackcdn.com/image/fetch/$s_!_YBv!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F76fb66a9-0acd-425f-9273-081320922ad3_2682x1294.png 1456w" sizes="100vw"></picture><div class="image-link-expand"><div class="pencraft pc-display-flex pc-gap-8 pc-reset"><div class="pencraft pc-reset icon-container restack-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-refresh-cw"><path d="M3 12a9 9 0 0 1 9-9 9.75 9.75 0 0 1 6.74 2.74L21 8"></path><path d="M21 3v5h-5"></path><path d="M21 12a9 9 0 0 1-9 9 9.75 9.75 0 0 1-6.74-2.74L3 16"></path><path d="M8 16H3v5"></path></svg></div><div class="pencraft pc-reset icon-container view-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></div></div></div></div></a></figure></div><p>I did a <a href="https://greencentralbanking.com/2021/07/26/adam-tooze-federal-reserve-climate/">piece </a>on the Fed, climate and central banking. The title it ended up with does not really make sense of the piece. What I was actually trying to do was to make sense of the Fed’s relative reticence on the climate issue in terms of four basic constraints: (1) the Fed’s mandate, (2) the hostile Congressional politics, (3) the particular policy instruments the Fed uses and (4) America’s political economy. </p><p>The panel of the Green Swan Conference at which Christine Lagarde and Jerome Powell took somewhat contrasting positions, can be viewed here:</p><div id="youtube2-KqssyOR8t9s" class="youtube-wrap" data-attrs="{"videoId":"KqssyOR8t9s","startTime":null,"endTime":null}" data-component-name="Youtube2ToDOM"><div class="youtube-inner"><iframe src="https://www.youtube-nocookie.com/embed/KqssyOR8t9s?rel=0&autoplay=0&showinfo=0&enablejsapi=0" frameborder="0" loading="lazy" gesture="media" allow="autoplay; fullscreen" allowautoplay="true" allowfullscreen="true" width="728" height="409"></iframe></div></div><p class="button-wrapper" data-attrs="{"url":"https://adamtooze.substack.com/?utm_source=substack&utm_medium=email&utm_content=share&action=share","text":"Share Chartbook","action":null,"class":null}" data-component-name="ButtonCreateButton"><a class="button primary" href="https://adamtooze.substack.com/?utm_source=substack&utm_medium=email&utm_content=share&action=share"><span>Share Chartbook</span></a></p><p><strong>Data Mining</strong></p><p>Data are one of the basic resources of the 21st-century economy. Health data are clearly crucial for the development and commercialization of new drugs. The UK’s highly centralized health system has particularly valuable data resources, which it increasingly shares with researchers and commercial users. This <a href="https://www.ft.com/content/6f9f6f1f-e2d1-4646-b5ec-7d704e45149e">FT piece</a> is very interesting: </p><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!p3gx!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fa0bfef2c-65c3-4ee3-af56-927991b76d03_602x836.png" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!p3gx!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fa0bfef2c-65c3-4ee3-af56-927991b76d03_602x836.png 424w, https://substackcdn.com/image/fetch/$s_!p3gx!,w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fa0bfef2c-65c3-4ee3-af56-927991b76d03_602x836.png 848w, https://substackcdn.com/image/fetch/$s_!p3gx!,w_1272,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fa0bfef2c-65c3-4ee3-af56-927991b76d03_602x836.png 1272w, https://substackcdn.com/image/fetch/$s_!p3gx!,w_1456,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fa0bfef2c-65c3-4ee3-af56-927991b76d03_602x836.png 1456w" sizes="100vw"><img src="https://bucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com/public/images/a0bfef2c-65c3-4ee3-af56-927991b76d03_602x836.png" width="420" height="583.2558139534884" data-attrs="{"src":"https://bucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com/public/images/a0bfef2c-65c3-4ee3-af56-927991b76d03_602x836.png","srcNoWatermark":null,"fullscreen":null,"imageSize":null,"height":836,"width":602,"resizeWidth":420,"bytes":428240,"alt":null,"title":null,"type":"image/png","href":null,"belowTheFold":true,"topImage":false,"internalRedirect":null,"isProcessing":false,"align":null,"offset":false}" class="sizing-normal" alt="" srcset="https://substackcdn.com/image/fetch/$s_!p3gx!,w_424,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fa0bfef2c-65c3-4ee3-af56-927991b76d03_602x836.png 424w, https://substackcdn.com/image/fetch/$s_!p3gx!,w_848,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fa0bfef2c-65c3-4ee3-af56-927991b76d03_602x836.png 848w, https://substackcdn.com/image/fetch/$s_!p3gx!,w_1272,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fa0bfef2c-65c3-4ee3-af56-927991b76d03_602x836.png 1272w, https://substackcdn.com/image/fetch/$s_!p3gx!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fa0bfef2c-65c3-4ee3-af56-927991b76d03_602x836.png 1456w" sizes="100vw" loading="lazy"></picture><div class="image-link-expand"><div class="pencraft pc-display-flex pc-gap-8 pc-reset"><div class="pencraft pc-reset icon-container restack-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-refresh-cw"><path d="M3 12a9 9 0 0 1 9-9 9.75 9.75 0 0 1 6.74 2.74L21 8"></path><path d="M21 3v5h-5"></path><path d="M21 12a9 9 0 0 1-9 9 9.75 9.75 0 0 1-6.74-2.74L3 16"></path><path d="M8 16H3v5"></path></svg></div><div class="pencraft pc-reset icon-container view-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></div></div></div></div></a></figure></div><p><strong>Found history</strong></p><p>On twitter I came across links to a facebook group called Banzai, which collects materials from folks interested in the Imperial Japanese military and its wars of the 1930s and 1940s. Probably best not too dig too deeply into the motivations here and the attachments to this particular slice of history. But the material compiled by the group is extraordinary.</p><p>Take this <a href="https://www.facebook.com/groups/1414345762215538/">remarkable map</a>. It shows the location of the sinking of all the vessels of the Imperial Japanese Navy lost during the war. </p><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!14W4!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fd6425b2d-89ee-4c8c-b385-e551dacc4f23_964x1034.png" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!14W4!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fd6425b2d-89ee-4c8c-b385-e551dacc4f23_964x1034.png 424w, https://substackcdn.com/image/fetch/$s_!14W4!,w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fd6425b2d-89ee-4c8c-b385-e551dacc4f23_964x1034.png 848w, https://substackcdn.com/image/fetch/$s_!14W4!,w_1272,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fd6425b2d-89ee-4c8c-b385-e551dacc4f23_964x1034.png 1272w, https://substackcdn.com/image/fetch/$s_!14W4!,w_1456,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fd6425b2d-89ee-4c8c-b385-e551dacc4f23_964x1034.png 1456w" sizes="100vw"><img src="https://bucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com/public/images/d6425b2d-89ee-4c8c-b385-e551dacc4f23_964x1034.png" width="504" height="540.597510373444" data-attrs="{"src":"https://bucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com/public/images/d6425b2d-89ee-4c8c-b385-e551dacc4f23_964x1034.png","srcNoWatermark":null,"fullscreen":null,"imageSize":null,"height":1034,"width":964,"resizeWidth":504,"bytes":2323234,"alt":null,"title":null,"type":"image/png","href":null,"belowTheFold":true,"topImage":false,"internalRedirect":null,"isProcessing":false,"align":null,"offset":false}" class="sizing-normal" alt="" srcset="https://substackcdn.com/image/fetch/$s_!14W4!,w_424,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fd6425b2d-89ee-4c8c-b385-e551dacc4f23_964x1034.png 424w, https://substackcdn.com/image/fetch/$s_!14W4!,w_848,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fd6425b2d-89ee-4c8c-b385-e551dacc4f23_964x1034.png 848w, https://substackcdn.com/image/fetch/$s_!14W4!,w_1272,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fd6425b2d-89ee-4c8c-b385-e551dacc4f23_964x1034.png 1272w, https://substackcdn.com/image/fetch/$s_!14W4!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fd6425b2d-89ee-4c8c-b385-e551dacc4f23_964x1034.png 1456w" sizes="100vw" loading="lazy"></picture><div class="image-link-expand"><div class="pencraft pc-display-flex pc-gap-8 pc-reset"><div class="pencraft pc-reset icon-container restack-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-refresh-cw"><path d="M3 12a9 9 0 0 1 9-9 9.75 9.75 0 0 1 6.74 2.74L21 8"></path><path d="M21 3v5h-5"></path><path d="M21 12a9 9 0 0 1-9 9 9.75 9.75 0 0 1-6.74-2.74L3 16"></path><path d="M8 16H3v5"></path></svg></div><div class="pencraft pc-reset icon-container view-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></div></div></div></div></a></figure></div><p>In total the Imperial Japanese Navy built 645 vessels of which, by the end of the war, 334 had been lost, along with 300,386 sailors. An extraordinary death toll and casualty rate. </p><p><strong>The Biden administration</strong></p><p>This <a href="https://www.ft.com/content/33a86191-3a75-452b-b3ce-d3d35ae90e06">conversation</a> between Heather Boushey of Biden’s Council of Economic Advisors and Rana Foroohar of the FT was particularly revealing of the new team’s priorities. </p><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!bTpb!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F8393e5a5-c789-4086-bd21-788cd8fb0e44_718x940.png" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!bTpb!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F8393e5a5-c789-4086-bd21-788cd8fb0e44_718x940.png 424w, https://substackcdn.com/image/fetch/$s_!bTpb!,w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F8393e5a5-c789-4086-bd21-788cd8fb0e44_718x940.png 848w, https://substackcdn.com/image/fetch/$s_!bTpb!,w_1272,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F8393e5a5-c789-4086-bd21-788cd8fb0e44_718x940.png 1272w, https://substackcdn.com/image/fetch/$s_!bTpb!,w_1456,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F8393e5a5-c789-4086-bd21-788cd8fb0e44_718x940.png 1456w" sizes="100vw"><img src="https://bucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com/public/images/8393e5a5-c789-4086-bd21-788cd8fb0e44_718x940.png" width="546" height="714.8189415041783" data-attrs="{"src":"https://bucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com/public/images/8393e5a5-c789-4086-bd21-788cd8fb0e44_718x940.png","srcNoWatermark":null,"fullscreen":null,"imageSize":null,"height":940,"width":718,"resizeWidth":546,"bytes":1151212,"alt":null,"title":null,"type":"image/png","href":null,"belowTheFold":true,"topImage":false,"internalRedirect":null,"isProcessing":false,"align":null,"offset":false}" class="sizing-normal" alt="" srcset="https://substackcdn.com/image/fetch/$s_!bTpb!,w_424,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F8393e5a5-c789-4086-bd21-788cd8fb0e44_718x940.png 424w, https://substackcdn.com/image/fetch/$s_!bTpb!,w_848,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F8393e5a5-c789-4086-bd21-788cd8fb0e44_718x940.png 848w, https://substackcdn.com/image/fetch/$s_!bTpb!,w_1272,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F8393e5a5-c789-4086-bd21-788cd8fb0e44_718x940.png 1272w, https://substackcdn.com/image/fetch/$s_!bTpb!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F8393e5a5-c789-4086-bd21-788cd8fb0e44_718x940.png 1456w" sizes="100vw" loading="lazy"></picture><div class="image-link-expand"><div class="pencraft pc-display-flex pc-gap-8 pc-reset"><div class="pencraft pc-reset icon-container restack-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-refresh-cw"><path d="M3 12a9 9 0 0 1 9-9 9.75 9.75 0 0 1 6.74 2.74L21 8"></path><path d="M21 3v5h-5"></path><path d="M21 12a9 9 0 0 1-9 9 9.75 9.75 0 0 1-6.74-2.74L3 16"></path><path d="M8 16H3v5"></path></svg></div><div class="pencraft pc-reset icon-container view-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></div></div></div></div></a></figure></div><p>This was a good line: “Mere mortals feel that they can’t read the finance pages because it’s too complicated by design. When you start to look at it, a lot of the measures and metrics we use now are ones that we created almost a century ago. So the data that we have now tells a story about the economy that I think in many ways is misleading.”</p><p><strong>Margaret Thatcher the Stockpiler</strong> </p><p>In 1974 Margaret Thatcher gave an interview in which she explained how she was coping with inflation by buying tinned provisions. The result was a minor scandal, gleefully exploited by the Labour administration. The whole saga is wonderfully reconstructed in this extraordinary <a href="https://threadreaderapp.com/thread/1240908312125865985.html">thread</a>.</p><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!7lpj!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Ffa9e34f2-d820-49d4-a68f-f7487df08747_1436x950.png" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!7lpj!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Ffa9e34f2-d820-49d4-a68f-f7487df08747_1436x950.png 424w, https://substackcdn.com/image/fetch/$s_!7lpj!,w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Ffa9e34f2-d820-49d4-a68f-f7487df08747_1436x950.png 848w, https://substackcdn.com/image/fetch/$s_!7lpj!,w_1272,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Ffa9e34f2-d820-49d4-a68f-f7487df08747_1436x950.png 1272w, https://substackcdn.com/image/fetch/$s_!7lpj!,w_1456,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Ffa9e34f2-d820-49d4-a68f-f7487df08747_1436x950.png 1456w" sizes="100vw"><img src="https://bucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com/public/images/fa9e34f2-d820-49d4-a68f-f7487df08747_1436x950.png" width="1436" height="950" data-attrs="{"src":"https://bucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com/public/images/fa9e34f2-d820-49d4-a68f-f7487df08747_1436x950.png","srcNoWatermark":null,"fullscreen":null,"imageSize":null,"height":950,"width":1436,"resizeWidth":null,"bytes":2245659,"alt":null,"title":null,"type":"image/png","href":null,"belowTheFold":true,"topImage":false,"internalRedirect":null,"isProcessing":false,"align":null,"offset":false}" class="sizing-normal" alt="" srcset="https://substackcdn.com/image/fetch/$s_!7lpj!,w_424,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Ffa9e34f2-d820-49d4-a68f-f7487df08747_1436x950.png 424w, https://substackcdn.com/image/fetch/$s_!7lpj!,w_848,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Ffa9e34f2-d820-49d4-a68f-f7487df08747_1436x950.png 848w, https://substackcdn.com/image/fetch/$s_!7lpj!,w_1272,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Ffa9e34f2-d820-49d4-a68f-f7487df08747_1436x950.png 1272w, https://substackcdn.com/image/fetch/$s_!7lpj!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Ffa9e34f2-d820-49d4-a68f-f7487df08747_1436x950.png 1456w" sizes="100vw" loading="lazy"></picture><div class="image-link-expand"><div class="pencraft pc-display-flex pc-gap-8 pc-reset"><div class="pencraft pc-reset icon-container restack-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-refresh-cw"><path d="M3 12a9 9 0 0 1 9-9 9.75 9.75 0 0 1 6.74 2.74L21 8"></path><path d="M21 3v5h-5"></path><path d="M21 12a9 9 0 0 1-9 9 9.75 9.75 0 0 1-6.74-2.74L3 16"></path><path d="M8 16H3v5"></path></svg></div><div class="pencraft pc-reset icon-container view-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></div></div></div></div></a></figure></div><p><strong>When you are just too posh for your own good:</strong></p><p>I haven’t read this history of the Baltic by Max Egremont, but this review in <a href="https://www.economist.com/books-and-arts/2021/07/24/a-baltic-travelogue-unearths-a-forgotten-past">The Economist</a> was memorably cutting. </p><p>“Max Egremont” is a deceptively simple pen-name. In his other life the author is John Max Henry Scawen Wyndham, the 7th Baron Leconfield and the 2nd Baron Egremont; he lives in Petworth House, one of the stateliest homes in Britain. This may explain, but does not excuse, his overemphasis on the Baltic’s long-departed aristocracy, the Baltic German barons who for two centuries ran Estonia and Latvia as provinces of the Russian empire. The names, dates and places can at times read like a kaleidoscopic version of the “Almanach de Gotha”, a handbook of European nobility. A more ruthless editor would have pruned this material, allowing the central themes to emerge more clearly.” Ouch! </p><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!EQIY!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fb6ba92b2-27ea-468d-867a-594406c5666a_2856x1292.png" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!EQIY!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fb6ba92b2-27ea-468d-867a-594406c5666a_2856x1292.png 424w, https://substackcdn.com/image/fetch/$s_!EQIY!,w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fb6ba92b2-27ea-468d-867a-594406c5666a_2856x1292.png 848w, https://substackcdn.com/image/fetch/$s_!EQIY!,w_1272,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fb6ba92b2-27ea-468d-867a-594406c5666a_2856x1292.png 1272w, https://substackcdn.com/image/fetch/$s_!EQIY!,w_1456,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fb6ba92b2-27ea-468d-867a-594406c5666a_2856x1292.png 1456w" sizes="100vw"><img src="https://bucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com/public/images/b6ba92b2-27ea-468d-867a-594406c5666a_2856x1292.png" width="1456" height="659" data-attrs="{"src":"https://bucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com/public/images/b6ba92b2-27ea-468d-867a-594406c5666a_2856x1292.png","srcNoWatermark":null,"fullscreen":null,"imageSize":null,"height":659,"width":1456,"resizeWidth":null,"bytes":4761932,"alt":null,"title":null,"type":"image/png","href":null,"belowTheFold":true,"topImage":false,"internalRedirect":null,"isProcessing":false,"align":null,"offset":false}" class="sizing-normal" alt="" srcset="https://substackcdn.com/image/fetch/$s_!EQIY!,w_424,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fb6ba92b2-27ea-468d-867a-594406c5666a_2856x1292.png 424w, https://substackcdn.com/image/fetch/$s_!EQIY!,w_848,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fb6ba92b2-27ea-468d-867a-594406c5666a_2856x1292.png 848w, https://substackcdn.com/image/fetch/$s_!EQIY!,w_1272,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fb6ba92b2-27ea-468d-867a-594406c5666a_2856x1292.png 1272w, https://substackcdn.com/image/fetch/$s_!EQIY!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fb6ba92b2-27ea-468d-867a-594406c5666a_2856x1292.png 1456w" sizes="100vw" loading="lazy"></picture><div class="image-link-expand"><div class="pencraft pc-display-flex pc-gap-8 pc-reset"><div class="pencraft pc-reset icon-container restack-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-refresh-cw"><path d="M3 12a9 9 0 0 1 9-9 9.75 9.75 0 0 1 6.74 2.74L21 8"></path><path d="M21 3v5h-5"></path><path d="M21 12a9 9 0 0 1-9 9 9.75 9.75 0 0 1-6.74-2.74L3 16"></path><path d="M8 16H3v5"></path></svg></div><div class="pencraft pc-reset icon-container view-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></div></div></div></div></a></figure></div><p class="button-wrapper" data-attrs="{"url":"https://adamtooze.substack.com/subscribe?","text":"Subscribe now","action":null,"class":null}" data-component-name="ButtonCreateButton"><a class="button primary" href="https://adamtooze.substack.com/subscribe?"><span>Subscribe now</span></a></p><!--
{
"post_id": "39247525.adam-tooze-chartbook-top-links-5",
"post_date": "2021-07-29T11:33:47.952Z",
"is_published": true,
"email_sent_at": "2021-07-29T11:33:47.984Z",
"inbox_sent_at": "2021-07-29T11:33:47.984Z",
"type": "newsletter",
"audience": "only_paid",
"title": "Adam Tooze Chartbook Top Links #5",
"subtitle": "Fukuyama, Westphalia and the Elephant. "
}
-->
<p>Welcome to Chartbook Top Links #5. Thank you again for your generous support of the Chartbook project. </p><p>The <a href="https://www.newstatesman.com/international/places/2021/07/why-there-no-solution-our-age-crisis-without-china">New Statesman</a> cover story on China generated approving nods from the true China experts, which was a relief. </p><p>Delighted also that NS picked up the most recent Chartbook Newsletter and redid it with <a href="https://www.newstatesman.com/world/asia/2021/07/china-1983-miracle-waiting-happen">lovely graphics</a>. I am experimenting with the package they use - Datawrapper. Still struggling with the output side of things and integration into Substack. </p><p>From a twitter friend: </p><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!tRke!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fcb5aec7a-aa77-477b-8655-719bc3c4b8f7_510x436.png" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!tRke!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fcb5aec7a-aa77-477b-8655-719bc3c4b8f7_510x436.png 424w, https://substackcdn.com/image/fetch/$s_!tRke!,w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fcb5aec7a-aa77-477b-8655-719bc3c4b8f7_510x436.png 848w, https://substackcdn.com/image/fetch/$s_!tRke!,w_1272,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fcb5aec7a-aa77-477b-8655-719bc3c4b8f7_510x436.png 1272w, https://substackcdn.com/image/fetch/$s_!tRke!,w_1456,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fcb5aec7a-aa77-477b-8655-719bc3c4b8f7_510x436.png 1456w" sizes="100vw"><img src="https://bucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com/public/images/cb5aec7a-aa77-477b-8655-719bc3c4b8f7_510x436.png" width="510" height="436" data-attrs="{"src":"https://bucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com/public/images/cb5aec7a-aa77-477b-8655-719bc3c4b8f7_510x436.png","srcNoWatermark":null,"fullscreen":null,"imageSize":null,"height":436,"width":510,"resizeWidth":null,"bytes":250021,"alt":null,"title":null,"type":"image/png","href":null,"belowTheFold":false,"topImage":true,"internalRedirect":null,"isProcessing":false,"align":null,"offset":false}" class="sizing-normal" alt="" srcset="https://substackcdn.com/image/fetch/$s_!tRke!,w_424,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fcb5aec7a-aa77-477b-8655-719bc3c4b8f7_510x436.png 424w, https://substackcdn.com/image/fetch/$s_!tRke!,w_848,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fcb5aec7a-aa77-477b-8655-719bc3c4b8f7_510x436.png 848w, https://substackcdn.com/image/fetch/$s_!tRke!,w_1272,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fcb5aec7a-aa77-477b-8655-719bc3c4b8f7_510x436.png 1272w, https://substackcdn.com/image/fetch/$s_!tRke!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fcb5aec7a-aa77-477b-8655-719bc3c4b8f7_510x436.png 1456w" sizes="100vw" fetchpriority="high"></picture><div class="image-link-expand"><div class="pencraft pc-display-flex pc-gap-8 pc-reset"><div class="pencraft pc-reset icon-container restack-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-refresh-cw"><path d="M3 12a9 9 0 0 1 9-9 9.75 9.75 0 0 1 6.74 2.74L21 8"></path><path d="M21 3v5h-5"></path><path d="M21 12a9 9 0 0 1-9 9 9.75 9.75 0 0 1-6.74-2.74L3 16"></path><path d="M8 16H3v5"></path></svg></div><div class="pencraft pc-reset icon-container view-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></div></div></div></div></a></figure></div><p>I did, once, have the pleasure of meeting Francis Fukuyama in Stanford. A conversation about our prospects in 2021 would be a real privilege. </p><p>*********</p><p>How catastrophic might a sudden transition to <strong>decarbonization</strong> be? </p><p>Gauging the risk of climate-driven financial crisis is something that preoccupies certain central bank circles right now. </p><p>I keep coming back to this analysis from 2016 by a great <a href="https://www.bankofengland.co.uk/working-paper/2016/lets-talk-about-the-weather-the-impact-of-climate-change-on-central-banks">Bank of England</a> team, <strong>Sandra Batten, Rhiannon Sowerbutts and Misa Tanaka. Two equilibria - always makes things exciting - One good. One bad. </strong></p><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!vHKK!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fcc02cf4d-b772-4490-af08-c8b63ba7bbee_1388x720.png" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!vHKK!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fcc02cf4d-b772-4490-af08-c8b63ba7bbee_1388x720.png 424w, https://substackcdn.com/image/fetch/$s_!vHKK!,w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fcc02cf4d-b772-4490-af08-c8b63ba7bbee_1388x720.png 848w, https://substackcdn.com/image/fetch/$s_!vHKK!,w_1272,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fcc02cf4d-b772-4490-af08-c8b63ba7bbee_1388x720.png 1272w, https://substackcdn.com/image/fetch/$s_!vHKK!,w_1456,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fcc02cf4d-b772-4490-af08-c8b63ba7bbee_1388x720.png 1456w" sizes="100vw"><img src="https://bucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com/public/images/cc02cf4d-b772-4490-af08-c8b63ba7bbee_1388x720.png" width="1388" height="720" data-attrs="{"src":"https://bucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com/public/images/cc02cf4d-b772-4490-af08-c8b63ba7bbee_1388x720.png","srcNoWatermark":null,"fullscreen":null,"imageSize":null,"height":720,"width":1388,"resizeWidth":null,"bytes":232053,"alt":null,"title":null,"type":"image/png","href":null,"belowTheFold":true,"topImage":false,"internalRedirect":null,"isProcessing":false,"align":null,"offset":false}" class="sizing-normal" alt="" srcset="https://substackcdn.com/image/fetch/$s_!vHKK!,w_424,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fcc02cf4d-b772-4490-af08-c8b63ba7bbee_1388x720.png 424w, https://substackcdn.com/image/fetch/$s_!vHKK!,w_848,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fcc02cf4d-b772-4490-af08-c8b63ba7bbee_1388x720.png 848w, https://substackcdn.com/image/fetch/$s_!vHKK!,w_1272,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fcc02cf4d-b772-4490-af08-c8b63ba7bbee_1388x720.png 1272w, https://substackcdn.com/image/fetch/$s_!vHKK!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fcc02cf4d-b772-4490-af08-c8b63ba7bbee_1388x720.png 1456w" sizes="100vw" loading="lazy"></picture><div class="image-link-expand"><div class="pencraft pc-display-flex pc-gap-8 pc-reset"><div class="pencraft pc-reset icon-container restack-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-refresh-cw"><path d="M3 12a9 9 0 0 1 9-9 9.75 9.75 0 0 1 6.74 2.74L21 8"></path><path d="M21 3v5h-5"></path><path d="M21 12a9 9 0 0 1-9 9 9.75 9.75 0 0 1-6.74-2.74L3 16"></path><path d="M8 16H3v5"></path></svg></div><div class="pencraft pc-reset icon-container view-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></div></div></div></div></a></figure></div><p>*********</p><p><strong>Sovereignty talk</strong> </p><p>We hear a lot of talk right now about sovereignty. This is a super-interesting essay in the <a href="http://bostonreview.net/politics/claire-vergerio-beyond-nation-state">Boston Review</a> by Claire Vergerio on how the sovereign “Westphalian” state has been mythologized as the natural unit of political order. </p><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!6ZhB!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F8d042e9e-6f06-47b4-bebc-8c9042520a17_1490x1210.png" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!6ZhB!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F8d042e9e-6f06-47b4-bebc-8c9042520a17_1490x1210.png 424w, https://substackcdn.com/image/fetch/$s_!6ZhB!,w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F8d042e9e-6f06-47b4-bebc-8c9042520a17_1490x1210.png 848w, https://substackcdn.com/image/fetch/$s_!6ZhB!,w_1272,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F8d042e9e-6f06-47b4-bebc-8c9042520a17_1490x1210.png 1272w, https://substackcdn.com/image/fetch/$s_!6ZhB!,w_1456,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F8d042e9e-6f06-47b4-bebc-8c9042520a17_1490x1210.png 1456w" sizes="100vw"><img src="https://bucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com/public/images/8d042e9e-6f06-47b4-bebc-8c9042520a17_1490x1210.png" width="1456" height="1182" data-attrs="{"src":"https://bucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com/public/images/8d042e9e-6f06-47b4-bebc-8c9042520a17_1490x1210.png","srcNoWatermark":null,"fullscreen":null,"imageSize":null,"height":1182,"width":1456,"resizeWidth":null,"bytes":1905283,"alt":null,"title":null,"type":"image/png","href":null,"belowTheFold":true,"topImage":false,"internalRedirect":null,"isProcessing":false,"align":null,"offset":false}" class="sizing-normal" alt="" srcset="https://substackcdn.com/image/fetch/$s_!6ZhB!,w_424,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F8d042e9e-6f06-47b4-bebc-8c9042520a17_1490x1210.png 424w, https://substackcdn.com/image/fetch/$s_!6ZhB!,w_848,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F8d042e9e-6f06-47b4-bebc-8c9042520a17_1490x1210.png 848w, https://substackcdn.com/image/fetch/$s_!6ZhB!,w_1272,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F8d042e9e-6f06-47b4-bebc-8c9042520a17_1490x1210.png 1272w, https://substackcdn.com/image/fetch/$s_!6ZhB!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F8d042e9e-6f06-47b4-bebc-8c9042520a17_1490x1210.png 1456w" sizes="100vw" loading="lazy"></picture><div class="image-link-expand"><div class="pencraft pc-display-flex pc-gap-8 pc-reset"><div class="pencraft pc-reset icon-container restack-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-refresh-cw"><path d="M3 12a9 9 0 0 1 9-9 9.75 9.75 0 0 1 6.74 2.74L21 8"></path><path d="M21 3v5h-5"></path><path d="M21 12a9 9 0 0 1-9 9 9.75 9.75 0 0 1-6.74-2.74L3 16"></path><path d="M8 16H3v5"></path></svg></div><div class="pencraft pc-reset icon-container view-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></div></div></div></div></a></figure></div><p>*********</p><p><strong>New media</strong></p><p>A great suggestion from Jack Xu pointed me towards a publication I did not previously know, <a href="https://www.theelephant.info/">The Elephant</a>. </p><div class="captioned-image-container"><figure><a class="image-link image2" target="_blank" href="https://substackcdn.com/image/fetch/$s_!SNUu!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F316ab728-e622-4ed2-9a51-e43d9502cba2_538x88.png" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!SNUu!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F316ab728-e622-4ed2-9a51-e43d9502cba2_538x88.png 424w, https://substackcdn.com/image/fetch/$s_!SNUu!,w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F316ab728-e622-4ed2-9a51-e43d9502cba2_538x88.png 848w, https://substackcdn.com/image/fetch/$s_!SNUu!,w_1272,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F316ab728-e622-4ed2-9a51-e43d9502cba2_538x88.png 1272w, https://substackcdn.com/image/fetch/$s_!SNUu!,w_1456,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F316ab728-e622-4ed2-9a51-e43d9502cba2_538x88.png 1456w" sizes="100vw"><img src="https://bucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com/public/images/316ab728-e622-4ed2-9a51-e43d9502cba2_538x88.png" width="538" height="88" data-attrs="{"src":"https://bucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com/public/images/316ab728-e622-4ed2-9a51-e43d9502cba2_538x88.png","srcNoWatermark":null,"fullscreen":null,"imageSize":null,"height":88,"width":538,"resizeWidth":null,"bytes":21302,"alt":null,"title":null,"type":"image/png","href":null,"belowTheFold":true,"topImage":false,"internalRedirect":null,"isProcessing":false,"align":null,"offset":false}" class="sizing-normal" alt="" srcset="https://substackcdn.com/image/fetch/$s_!SNUu!,w_424,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F316ab728-e622-4ed2-9a51-e43d9502cba2_538x88.png 424w, https://substackcdn.com/image/fetch/$s_!SNUu!,w_848,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F316ab728-e622-4ed2-9a51-e43d9502cba2_538x88.png 848w, https://substackcdn.com/image/fetch/$s_!SNUu!,w_1272,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F316ab728-e622-4ed2-9a51-e43d9502cba2_538x88.png 1272w, https://substackcdn.com/image/fetch/$s_!SNUu!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F316ab728-e622-4ed2-9a51-e43d9502cba2_538x88.png 1456w" sizes="100vw" loading="lazy"></picture><div></div></div></a></figure></div><p>“Founded on the principles of Pan-Africanism, The Elephant was established in 2016 as a platform for dialogue and the pursuit of Truth, epitomised by a willingness to re–imagine state and society by exposing their relationship in order to restore the balance of power – social, economic and political – in society especially for the marginalised, alienated and dispossessed.” </p><p>I am going to make this a regular feature of the Top Links. Publications/websites you might not have come across yet. <br><br>*********</p><p><strong>Persistent globalization effects</strong></p><p>Isabela Weber on the excellent <a href="https://phenomenalworld.org/analysis/global-legacy-trade-dependence">Phenomenal World</a> website summarizes work she has done with Gregor Semieniuk, Tom Westland, and Junshang Liang on the persistence of the deep structures of the world economy: “During the first era of globalization (1870–1913), the global division of labor was stark. …. Not only is the hierarchy in productive capabilities highly persistent, but countries’ export baskets under the previous globalization predict more than half of the variance of today’s real GDP per capita.”</p><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!C6wh!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fc8a2849a-f154-4084-83c0-f89a9cccdc05_1244x1268.png" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!C6wh!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fc8a2849a-f154-4084-83c0-f89a9cccdc05_1244x1268.png 424w, https://substackcdn.com/image/fetch/$s_!C6wh!,w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fc8a2849a-f154-4084-83c0-f89a9cccdc05_1244x1268.png 848w, https://substackcdn.com/image/fetch/$s_!C6wh!,w_1272,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fc8a2849a-f154-4084-83c0-f89a9cccdc05_1244x1268.png 1272w, https://substackcdn.com/image/fetch/$s_!C6wh!,w_1456,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fc8a2849a-f154-4084-83c0-f89a9cccdc05_1244x1268.png 1456w" sizes="100vw"><img src="https://bucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com/public/images/c8a2849a-f154-4084-83c0-f89a9cccdc05_1244x1268.png" width="1244" height="1268" data-attrs="{"src":"https://bucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com/public/images/c8a2849a-f154-4084-83c0-f89a9cccdc05_1244x1268.png","srcNoWatermark":null,"fullscreen":null,"imageSize":null,"height":1268,"width":1244,"resizeWidth":null,"bytes":381159,"alt":null,"title":null,"type":"image/png","href":null,"belowTheFold":true,"topImage":false,"internalRedirect":null,"isProcessing":false,"align":null,"offset":false}" class="sizing-normal" alt="" srcset="https://substackcdn.com/image/fetch/$s_!C6wh!,w_424,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fc8a2849a-f154-4084-83c0-f89a9cccdc05_1244x1268.png 424w, https://substackcdn.com/image/fetch/$s_!C6wh!,w_848,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fc8a2849a-f154-4084-83c0-f89a9cccdc05_1244x1268.png 848w, https://substackcdn.com/image/fetch/$s_!C6wh!,w_1272,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fc8a2849a-f154-4084-83c0-f89a9cccdc05_1244x1268.png 1272w, https://substackcdn.com/image/fetch/$s_!C6wh!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fc8a2849a-f154-4084-83c0-f89a9cccdc05_1244x1268.png 1456w" sizes="100vw" loading="lazy"></picture><div class="image-link-expand"><div class="pencraft pc-display-flex pc-gap-8 pc-reset"><div class="pencraft pc-reset icon-container restack-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-refresh-cw"><path d="M3 12a9 9 0 0 1 9-9 9.75 9.75 0 0 1 6.74 2.74L21 8"></path><path d="M21 3v5h-5"></path><path d="M21 12a9 9 0 0 1-9 9 9.75 9.75 0 0 1-6.74-2.74L3 16"></path><path d="M8 16H3v5"></path></svg></div><div class="pencraft pc-reset icon-container view-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></div></div></div></div></a></figure></div><p>********</p><p><strong>The stuff in solar </strong></p><p>Polysilicon is the key raw material for PV solar cells. Much of it is manufactured in Xinjiang, China. </p><p>A great substack post from Alex Turnbull in his newsletter <a href="https://syncretica.substack.com/p/xinjiang-and-polysilicon">Syncretica</a> addresses some of the issues. </p><div class="embedded-post-wrap" data-attrs="{"id":37560044,"url":"https://syncretica.substack.com/p/xinjiang-and-polysilicon","publication_id":null,"publication_name":"Syncretica","publication_logo_url":null,"title":"Xinjiang and Polysilicon","truncated_body_text":"There has been no small amount of discussion of Xinjiang and solar supply chains. Here I am going to take a step back from the hot take merchants and evaluate this from first principles in this piece, and will follow up with a second one on what policy measures would be sensible assuming there is anything undesirable here.","date":"2021-06-16T03:26:39.768Z","like_count":4,"comment_count":2,"bylines":[{"id":13835617,"name":"Alex Turnbull","photo_url":"https://bucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com/public/images/87538b55-1e21-4d5d-b8d3-32d0f701e18c_400x400.jpeg","bio":"Investing and posting","profile_set_up_at":null,"tos_accepted_at":"2020-12-30T05:26:56.261Z","twitter_screen_name":"alexbhturnbull"}],"utm_campaign":null,"belowTheFold":true,"type":null,"language":"en"}" data-component-name="EmbeddedPostToDOM"><a class="embedded-post" native="true" href="https://syncretica.substack.com/p/xinjiang-and-polysilicon?utm_source=substack&utm_campaign=post_embed&utm_medium=web"><div class="embedded-post-header"><span></span><span class="embedded-post-publication-name">Syncretica</span></div><div class="embedded-post-title-wrapper"><div class="embedded-post-title">Xinjiang and Polysilicon</div></div><div class="embedded-post-body">There has been no small amount of discussion of Xinjiang and solar supply chains. Here I am going to take a step back from the hot take merchants and evaluate this from first principles in this piece, and will follow up with a second one on what policy measures would be sensible assuming there is anything undesirable here…</div><div class="embedded-post-cta-wrapper"><span class="embedded-post-cta">Read more</span></div><div class="embedded-post-meta">4 years ago · 4 likes · 2 comments · Alex Turnbull</div></a></div><p>*********</p><p><strong>Stuff I cant get out of my head.</strong></p><p>A Chinese workshop manufacturing giant Radio Controlled Models of IJN Yamato, the legendary Japanese super battleship of World War II.</p><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!8YWC!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F50c7c4bb-cf3e-4852-87af-bce3f27a69dc_1166x680.png" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!8YWC!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F50c7c4bb-cf3e-4852-87af-bce3f27a69dc_1166x680.png 424w, https://substackcdn.com/image/fetch/$s_!8YWC!,w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F50c7c4bb-cf3e-4852-87af-bce3f27a69dc_1166x680.png 848w, https://substackcdn.com/image/fetch/$s_!8YWC!,w_1272,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F50c7c4bb-cf3e-4852-87af-bce3f27a69dc_1166x680.png 1272w, https://substackcdn.com/image/fetch/$s_!8YWC!,w_1456,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F50c7c4bb-cf3e-4852-87af-bce3f27a69dc_1166x680.png 1456w" sizes="100vw"><img src="https://bucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com/public/images/50c7c4bb-cf3e-4852-87af-bce3f27a69dc_1166x680.png" width="1166" height="680" data-attrs="{"src":"https://bucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com/public/images/50c7c4bb-cf3e-4852-87af-bce3f27a69dc_1166x680.png","srcNoWatermark":null,"fullscreen":null,"imageSize":null,"height":680,"width":1166,"resizeWidth":null,"bytes":1210379,"alt":null,"title":null,"type":"image/png","href":null,"belowTheFold":true,"topImage":false,"internalRedirect":null,"isProcessing":false,"align":null,"offset":false}" class="sizing-normal" alt="" srcset="https://substackcdn.com/image/fetch/$s_!8YWC!,w_424,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F50c7c4bb-cf3e-4852-87af-bce3f27a69dc_1166x680.png 424w, https://substackcdn.com/image/fetch/$s_!8YWC!,w_848,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F50c7c4bb-cf3e-4852-87af-bce3f27a69dc_1166x680.png 848w, https://substackcdn.com/image/fetch/$s_!8YWC!,w_1272,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F50c7c4bb-cf3e-4852-87af-bce3f27a69dc_1166x680.png 1272w, https://substackcdn.com/image/fetch/$s_!8YWC!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F50c7c4bb-cf3e-4852-87af-bce3f27a69dc_1166x680.png 1456w" sizes="100vw" loading="lazy"></picture><div class="image-link-expand"><div class="pencraft pc-display-flex pc-gap-8 pc-reset"><div class="pencraft pc-reset icon-container restack-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-refresh-cw"><path d="M3 12a9 9 0 0 1 9-9 9.75 9.75 0 0 1 6.74 2.74L21 8"></path><path d="M21 3v5h-5"></path><path d="M21 12a9 9 0 0 1-9 9 9.75 9.75 0 0 1-6.74-2.74L3 16"></path><path d="M8 16H3v5"></path></svg></div><div class="pencraft pc-reset icon-container view-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></div></div></div></div></a></figure></div><p>Philippe Jean Lambert on Banzai group facebook.</p><p>For more on the ship and problems modeling it, check out this <a href="https://www.modelshipmaster.com/products/modern_navy/Yamato.htm">website</a>.</p>No children (leaf entity)