Sunday, September 20, 2026

There Is A Black Market On Capitol Hill

First posted in 2014.

Yes, a black market in snacks. Pretty shocking. See Inside Capitol Hill's black market: Snacks by HELENA BOTTEMILLER EVICH of POLITICO. You can also check out POLITICO's guide for finding popular congressional office snacks. Excerpts: 

"Big deals over immigration reform or government spending may not be getting made on Capitol Hill, but political maneuvering can yield a free pack of Skittles for a staffer with a sugar craving.

It just might cost a bag of Fritos.

Home-state snacks are a mainstay in congressional office lobbies, alongside district maps, hometown magazines and displays of local tchotchkes. Walk into Sen. Rand Paul’s office and you’ll find Kellogg’s Pop-Tarts and Nutri-Grain bars in a basket next to the Kentucky almanac. Down the hall, Georgia Sen. Johnny Isakson serves peanuts and Coca-Cola. Head upstairs to New York Sen. Kirsten Gillibrand’s office for Chobani yogurt.

But the treats not only give visiting constituents a taste of home, they also fuel black-market snack trading among House and Senate staffers.

Beyond the official displays of food politicking — like when John Boehner sent Nancy Pelosi Cincinnati’s famous Graeter’s Gelato for her birthday — the little-known snack trade cuts across state, district and party lines.

Dozens of junior staff who spoke with POLITICO described an elaborate barter system based on local products. Pepsi is swapped for M&M’s, and Coca-Cola for Craisins. Unpaid interns are rewarded with treats for fetching lawmaker signatures. Sharing a cellphone charger with another office might net a bag of chips or candy. The most dedicated snackers have compiled comprehensive lists of who has what — a Capitol Hill snack bible of sorts.

Food and beverage companies, or farm cooperatives, donate most of the snacks on the Hill, but some offices do purchase their own reserves. The donations are kosher under ethics rules as long as the products are from the lawmaker’s state and are primarily for “promotional purposes,” as well as available to office visitors and of minimal value to the recipient. Staffers aren’t supposed to directly ask suppliers for their snacks to be replenished, but they tend to not run out for long.

The covert snack economy is not just a way for hungry staffers to seek out chocolate-covered macadamia nuts from Hawaii or Lay’s chips from Texas. It’s a system for aides, especially low on the totem pole, to make friends, forge informal alliances and, ultimately, help keep Capitol Hill functioning.

Between arranging constituent tours and taking calls, staff assistants use a massive email Listserv to arrange snack swaps.

“They’re the ones that work the trades,” explained Adam Russell, a spokesman for Rep. Sam Farr (D-Calif.). Constituents visiting his office are offered walnuts, prunes and pistachios.

Dozens of offices serve treats from large conglomerates like PepsiCo, which has factories or distribution facilities in various lawmakers’ districts. Rep. Mike Pompeo (R-Kan.) serves PepsiCo products because there’s a bottling plant in Wichita, Kan. He’s personally a big fan of Snickers and Diet Pepsi, according to his staff.

Frito-Lay chips and Mars candy are the most common — and perhaps the most commonly traded — snacks on the Hill. Both manufacturers have operations in several states.

Home-state snacks transcend party affiliation. Republican Sen. Marco Rubio and Democrat Rep. Debbie Wasserman Schultz may not find much common ground, but they agree Tropicana orange juice is a delicious treat for guests.

And orange juice, it turns out, is a hot commodity on the Hill, trading at times for as many as five bags of Lay’s chips.

In an Arkansas-shaped basket, Republican Sen. John Boozman’s office serves a variety of Frito-Lay snacks, Little Debbie snack cakes and crisp rice treats made by Riceland, a farmers co-op. In Arkansas Democratic Sen. Mark Pryor’s office, you’ll find the same snacks, plus some Mountain Valley Water from Hot Springs, Ark.

Pop-Tarts may be “very popular” with Paul’s Kentucky visitors and staff popping by for a treat, but the Republican senator, known for being a bit of a health nut, does not eat them, according to his staff.

Not all products on the political circuit are well-known brands. Sen. Richard Blumenthal (D-Conn.) has Ola! all natural granola, Rep. Sam Graves (R-Mo.) has Cherry Mash, a chocolate cherry treat, and Rep. Dave Reichert (R-Wash.) has Aplets & Cotlets, a square fruit puree and nut snack that isn’t all that tradable, according to multiple sources familiar with the delegation.

Some offices on Capitol Hill are not looped in on the snack trade and don’t have their own currency, and there are few staffers in either chamber who don’t know where the goods are and how to get them.

Those in the know target New York Sens. Chuck Schumer’s and Gillibrand’s offices, which actually have Greek yogurt-filled fridges. So do Idaho Sens. Mike Crapo and Jim Risch.

Ask around about who has the best snacks, and you’ll run into some local food folklore. Someone on the Hill has San Pellegrino, aides say, but they’re not sure who, or they won’t divulge their source. POLITICO couldn’t find the sparkling beverage. Another office had heard Rep. Jared Polis (D-Colo.) serves Kombucha, a fermented “foodie” drink, on tap. He doesn’t, according to his office. At least two staffers had heard tales of free Shiner Bock flowing from the Texas delegation, but the search for the beer from the Lone Star State came up dry."

Related posts: 

A High School Banned Students From Selling Snacks. Predictably, a Black Market for Snacks Emerged. (2022)

Cartels: They're not just for drug dealers and oil producers anymore-maple syrup producers have one, too (2016-There was a black market for syrup) 

There Is A Black Market On Capitol Hill (2014-Another black market for snacks)

Should People Be Allowed To Sell Their Kidneys And Other Organs? (2010)

Saturday, September 19, 2026

A Dialogue Concerning Utopia (David Hume and Thomas More, imagined)

This is a follow up to a recent post where I had Claude AI write a dialogue between Adam Smith and Thomas More discussing the book Utopia. See Sheep and Pins: Thomas More and Adam Smith on Utopia. Claude AI wrote this one as well. The image is from Google Gemini.

David Hume was a philosopher and friend of Adam Smith. Hume was critical of Utopian schemes (see links below). Once again More mentions enclosures (or the enclosure acts). Below are also the links enclosures I had on the Adam Smith post.

David Hume and Thomas More, imagined

What follows is an invented conversation, in the old tradition of the "dialogue of the dead" that Lucian began and Fontenelle later revived — a meeting history never allowed, between two men born nearly two centuries apart. Thomas More could not have read a word of Hume's; Hume, writing in the 1740s and after, certainly knew More's book, and even named it in one of his own essays. The exchange below is invented, but the arguments are drawn as faithfully as invention allows from what each man actually wrote.


HUME: Sir Thomas, let me begin with the difficulty that struck me first on reading your book. Your traveler Hythloday insists that no commonwealth can be just or happy so long as there is private property — that mine and thine are the root of the whole trouble. Now, I have spent a good many pages arguing something rather close to this myself: that justice is no law of nature, but a convention we invent only because nature is a niggardly (stingy, miserly, or very reluctant to give and spend) housekeeper and our own generosity has limits. Imagine a people supplied with every convenience in such profusion that no one need ever compete for it, I once wrote, and every kindly impulse in human nature would grow stronger for the ease of it — while justice, that "cautious, jealous virtue," would simply never arise, for the excellent reason that there would be nothing left worth dividing. So I confess some curiosity: has your island found the abundance that would make property needless, or has it merely been decreed away by wishing?

MORE: You do Hythloday the courtesy of making him more careful than he sometimes is, David — I hope I may call you David, since you've clearly given up on ceremony with me. He does not wish scarcity away. He removes its causes. On my island every hand labors, but only six hours in the day — three before the midday meal and three after — and no hand is spared to hold a sword it need not hold, or wait at table for a hundred idle retainers some great man keeps about him for show, or beg in a ditch because his farm has been hedged in for a lord's sheep. Strip away the idle rich, the swollen households, and the beggars our English enclosures have lately made of honest ploughmen, and put all those hands to the plough and the loom instead, and you would marvel how far six hours can stretch. So yes — I think Hythloday would tell you he has found your abundance. But he built it. He did not simply wish for it.

 

HUME: Built by whom, and held together by what, is precisely my next question — and I ask it as a confession against my own hopes as much as an objection to yours. In that very passage, I noted that a community of goods has in fact been attempted more than once, in the heat of some new religious fervor — and that nothing but the bitter experience of its failures, as men's ordinary selfishness returned or simply stopped hiding itself, ever talked the enthusiasts back into property and law. I did not have your island in mind when I wrote it, but I can hardly pretend it isn't aimed at it now that I've found it. Grant you the six hours, and the idle hands set to honest work — I'm not so ungenerous as to deny that England wastes labor shamefully. But give a man his sufficiency, and I have never once seen him fail to next demand his precedence. What does a commonwealth with no property do about that?

MORE: Humiliate it, mostly — and I mean that almost literally. Gold and silver, having no honest use among us, are given to slaves to wear as fetters and to convicted men as the badge of their disgrace; our chamberpots, if you must know, are made of the very metal your goldsmiths would commit murder for. We give children pearls and gems for playthings, and they outgrow them the way an English child outgrows its rattle, and is faintly embarrassed to be caught still wanting one. Ambassadors came to us once dressed head to foot in gold chains and jewels, hoping to dazzle a simple people — and our citizens, seeing it, mistook the glittering lords for the embassy's fools, and paid their respects to the plainly dressed servants instead. Pride does not vanish, David. I would not claim that of any child of Adam, on my island or off it. But you may starve it a little, if you take away its usual food and feed it something more embarrassing instead.

HUME: That is cleverer than I expected, and I withdraw the word "wishing." Though I notice you haven't killed the ornament, only redirected the shame of it — and I still suspect pride merely changes coin. It will trade in gold where gold is honored, and trade in six-hour diligence, or a fine turn of Greek, or a seat nearer the Prince, where those are honored instead. You haven't defeated the passion. You've only decided what it's allowed to purchase.

MORE: I wouldn't call that a small victory. A commonwealth that can only get its citizens to compete over who serves it best has arranged its vanities rather better than most.

HUME: Now that is a sentence I might have written myself, on a good day. It brings me, in fact, to a matter nearer my own trade, since I've made something of a name defending luxury and commerce against the old complaint — as old as your Plato, and as fresh as our pulpits — that refinement softens a people into vice. Trade civilizes, to my mind: it gives men something to be curious about beyond their own parish, teaches them to deal with strangers without cutting their throats, and has done more for the good humor of Europe than a century of sermons on charity. Your Utopians, by contrast, dress all alike in undyed wool, and think a taste for fine plate close to madness. Are we simply opposed?

MORE: Less than you might think, if you read past the wool. My Utopians are no Carthusians shut up in cells. They keep gardens they compete to make the finest on the street, they make music, they crowd into public lectures before dawn for the plain pleasure of it, and they hold, as frankly as any Epicurean, that nature gave us pleasure to follow and would hardly have done so as a joke. What they scorn isn't refinement — it's one particular counterfeit of it: ornament whose entire value lies in the fact that your neighbor cannot afford it too. Take away the comparison, and the diamond is just a hard stone that happens to catch light. I'd wager you call that sort of thing "vicious luxury" in your own essay on the subject — the kind that costs more than a man's fortune can bear, or crowds out everything he owes his household and his friends. We may only be arguing over where to draw a line we both admit is there.

HUME: That may be the most alarming thing anyone has said to me all week — to be told that a man who wants his whole island to go without money agrees with me about something. I'll allow it, though: I've never defended vanity, only appetite, curiosity, and the arts that grow out of having a little more than one strictly needs. Where I still balk is upstream of the wool and the gold entirely. You've arranged a whole commonwealth — its labor, its property, its marriages, even its crockery — by design, on paper, as though a single legislator could reason out the best form of a society and hand it to a people ready-made, the way a tailor hands over a coat. I have generally thought this the most dangerous confidence a political thinker can hold. And I said so of you directly, sir, though I don't know if it ever reached you: I put your Utopia in the same breath as Plato's Republic and called both "plainly imaginary" plans of government, because each one supposes that human character would first have to be made over for the better before the scheme could take a single step — whereas Harrington's Oceana asks nothing of men's souls, and everything of their institutions.

MORE: I had wondered whether you'd bring that up. You are not the first to notice it, David, nor even the first to say it to my face, in a manner of speaking — my own book got there ahead of you, if you read to the very end. Hythloday finishes his account of the island, and the fellow who happens to share my name and my profession sits and listens, and admits, privately, that a great many things about Utopia struck him as plainly absurd, and that he could wish, without much hoping, to see a few of its customs tried at home. I did not need you to tell me the scheme presumed too much on human goodness. I told myself so, in my own pages, before you were born to tell me twice.

HUME: Then we are nearer agreement than I assumed. I begin to think you agree with me rather more than your own island does.

MORE: Say instead that I agree with you about how much confidence any one man should place in his own blueprint — and disagree about whether that ought to stop him from drawing one at all. I did not hand Hythloday's account to England as a coat to be worn tomorrow morning. I held it up as a glass, mostly so my countrymen might see what their hedgerows and their gallows and their endless small wars looked like standing next to it. A glass needn't be a door, to be worth looking into.

HUME: That much I'll grant without reservation — I said something not so far from it myself, defending my own excursion into commonwealth-building: that even a plan no one will ever build in full may still be worth having, as a mark to build toward. I suppose I only trust the mark further when it's drawn by a Harrington, who asks of men only that they be exactly as self-interested and shortsighted as I've always found them, than by a Plato or a More, who asks them to be something better first.

MORE: Then let me ask after one corner of the glass I suspect troubles you rather more personally than a chapter on property ever could. My Utopians tolerate a great many faiths under a single law — more, if I'm honest, than most Christian kingdoms of my day or yours have quite managed — but they make one exception. A man who doubts the soul survives the body, or thinks the world runs on blind chance rather than any providence, may hold no public office among them, and is scarcely reckoned a man of full standing at all — on the reasoning that such a fellow, once unwatched, has no particular reason left to prefer the common good to his own skin.

HUME: I did rather wonder when we'd arrive at my own chapter. I've spent a career giving reasoned doubt about providence and a future state the fullest and most careful hearing I knew how to give it, and I like to think myself not entirely without honesty or public spirit for the trouble. Your island would have found me a very suspicious character indeed, and shut every office in it against me.

MORE: It would have, and I won't insult either of us by pretending otherwise. I'll say two things for the island, and one against its author. For the island: Hythloday's Utopians don't rack such a man, or starve him, or drag him to any stake for his opinion — they only decline him public trust, and ask him not to preach the point to a mob that may not share your patience for an argument. They leave the door open, too, for him to be reasoned back through it, which is more than most inquisitors of my own century thought to offer. Against the author: you'd flatter me more than I deserve if you assumed the man who wrote of such patience practiced it half so well. I spent a good part of my life, as Chancellor, on the far side of that very door — arguing against, and worse than arguing against, men I believed were leading souls to ruin. History hasn't been gentle with me over it, nor, on reflection, should it be. Hythloday's island was, in that one respect, a rather better man than I ever managed to be.

HUME: That's a franker answer than I had any right to expect, and I won't press it further — a man needn't be his own best book. Let me try to end where we began, closer to agreement than either of us likely expected an hour ago. You hold that the only pleasures worth calling true are the ones nature and reason together approve — health, friendship, a mind given something worth doing, a conscience left in peace — and that gold and precedence are false pleasures precisely because they cannot survive being set beside a neighbor's lack. I wouldn't have put it in quite those terms; I ground my own account of virtue in sentiment and utility rather than nature's design, and I have no need of your Utopians' heaven and hell to keep a man honest when no one's watching. But we arrive, by rather different roads, at much the same suspicion of vanity, and much the same respect for a mind occupied with something better than its own reflection.

MORE: Then let's shake hands on the suspicion, and leave the roads to quarrel over some other evening. Though I notice you got the easier bargain — your virtue asks no priest, and risks no flame. Mine had rather more trouble getting past both, and it's only honest to tell you it didn't always manage.

HUME: I know a good deal more of how your story ends than you presently do, sir, having the considerable advantage of writing after it. I'll only say I've read your history as closely as your book, and I have never once thought a man's willingness to die by his own conscience was an argument any essay of mine could answer. Whatever else we owe your island, we owe rather more to the fact that its author wasn't merely clever about pride, in the way of a man who has only ever theorized about it, but proof against it, at the one hour it would have cost him everything to be otherwise.

MORE: You're kinder than my scaffold deserves, and kinder than I generally am about myself — ask my daughter Meg sometime, who had the whole of it firsthand, and none of your flattering distance. I always thought a good jest did more honest work in the world than a good martyrdom, and would rather be remembered for the one than the other, if history would only take instruction. But I'll accept the compliment, David, on one condition: that you let me return it. It's no small thing to spend a whole life saying exactly what you believed about providence and the soul, in a country quite prepared to make you sorry for it, and to die in your own bed anyway, still saying it, forty years on. Perhaps courage keeps more than one coin. You'll forgive me if I still think mine bought slightly more.

HUME: I'll forgive you almost anything, sir, for a line that good. I take it that settles our account — for this evening, at any rate.

Links on Hume and utopias:

The Utopian Dimension in the Philosophy of Social Betterment in the Scottish Enlightenment  by Maria Pia Paganelli of Trinity University

David Hume, "Idea of a Perfect Commonwealth"  This site has the following quote from Hume: "All plans of government, which suppose great reformation in the manners of mankind, are plainly imaginary. Of this nature, are the Republic of Plato, and the Utopia of Sir Thomas More."

Links on enclosures: 

See The Enclosure Acts from the University of Delaware. Excerpts:

"The Enclosure Acts were essentially the abolition of the open field system of agriculture which had been the way people farmed in England for centuries. The ownership of all common land, and waste land, that farmers and Lords had, was taken from them. Any right they had over the land was gone. New fields were designed, new roads were added, and the land was eventually re-allocated to different farmers and Lords. Originally this process was agreed upon through informal agreement but Parliament took over during the 17th century. Between 1604 and 1914 there were over 5,200 bills enacted by Parliament which equates to a little more than one fifth of England.

England utilized an Open Field system for much of its history before the start of the Enclosure. This system worked well because it suited what was needed by society at the time. Agricultural and cultivation systems were not very advanced, but it allowed each village to be self-sufficient. This was extremely necessary because transportation was still very primitive. However, over time things began to change. Transportation became much easier with the implement of new roadways, canals and waterways were easier to navigate, and agricultural knowledge increased. In the end, the open field system was not capable of reaping all of the benefits of the newly industrialized England. Therefore, by taking control of the land, the government was able to decide the uses for the land based on what suited it best. This increased the efficiency and profitability of farming. Efficient agriculture was greatly needed at this time due to the fast increase in population; demand for food was at it’s all time highest." 

See A lot of educated people, especially if they’ve read Marx, have heard about enclosures. Most of what they know ain’t so by 

"Enclosures increased the number of workers in villages."

In the 1700s "Inefficient growing of wheat was replaced by efficient growing of wheat.

"The factories were in the North of England, not in the South, where the enclosures actually happened. No one moved from the South to the North. The Workers in the factories came from Ireland or the North-which were areas with no enclosures."

See The Enclosures and the Industrial Revolution from Don Boudreaux.

"In her remarkable 2010 volume, Bourgeois Dignity, McCloskey writes on page 154 that, in attempting to explain the industrial revolution, Karl Marx

instanced enclosure in England during the sixteenth century (which has been overturned by historical findings that such enclosure was economically minor) and in the eighteenth century (which has been overturned by findings that the labor driven off the land by enclosure was a tiny source of the industrial proletariat, and enclosure happened then mainly in the south and east where in fact little of the new sort of industrialization was going on, and where agricultural employment in newly enclosed villages in fact increased).

A few pages later (pages 172-173), McCloskey adds:

By now, though, several generations of agricultural historians have argued (contrary to the Fabian theme first articulated in 1911, which followed Marx) that eighteenth-century enclosures were in many ways equitable and did not drive people out of the villages…. Contrary to the pastoralism of [Oliver Goldsmith’s 1770] poem – which as usual reflects aristocratic traditions in poetry back to Horace and Theocritus more than evidence from the English countryside – the commons was usually purchased rather than stolen from the goose. One can point with sympathy to the damaging of numerous poor holders of traditional rights without also believing what appears to be false – that industrialization depended in any important way on the taking of rights from cottagers to gather firewood on the commons. Industrialization, after all, occurred first in regions to the north and west, mainly enclosed long before, such as Lancashire or Warwickshire, and especially (as Eric Jones pointed out) in areas bad for agriculture, not in the fertile East Midlands or East Anglia or the South – the places where the parliamentary acts of the eighteenth century did transform many villages, though non “deserted.” In such freshly enclosed areas, I repeat, the local populations increased after enclosure."

Thursday, September 17, 2026

The U.S. Poverty Rate Fell To 10.2%, The Lowest On Record; Median Income Also Reaches All-Time High While Inequality Unchanged

Every year around this time the U.S. Census Bureau releases its report on incomes and poverty for the previous year. The first year we have an official poverty rate for is 1959.

See Income, Poverty and Health Insurance Coverage in the United States: 2025. This is the press release from the U.S. Census Bureau. Excerpts:

"The U.S. Census Bureau today announced that real median household income was $87,460 in 2025, the highest on record dating back to 1967.

The official poverty rate fell 0.5 percentage points to 10.2% in 2025. The following 2025 findings were not statistically different from 2024: the Supplemental Poverty Measure (SPM) rate in 2025 was 13.1% and in 2025, 26.7 million people (7.9%) were uninsured for the entire year, according to the 2026 Current Population Survey Annual Social and Economic Supplement (CPS ASEC).

These findings come from three Census Bureau reports, “Income in the United States: 2025,” “Poverty in the United States: 2025” and “Health Insurance Coverage in the United States: 2025.” 

While the official poverty measure is based on money income, which is pretax and does not include tax credits, the SPM is a post-tax and transfer poverty measure. The SPM provides an alternative way of measuring poverty in the United States and serves as an additional indicator of economic well-being."

"Income inequality as measured by the Gini index was not significantly different between 2024 and 2025." 

Also see Poverty in the United States: 2025 from the Census Bureau, by CHRISTINA BIJOU AND EMILY A. SHRIDER. It has links to many tables and graphs about poverty and incomes that show how the numbers have changed over time and how they break down by racial & ethnic groups, gender and age.

In Figure 1 below (from the Census Bureau report), the second time line chart shows the poverty rate each year since 1959 (it was 22.2% in 1959, so the rate today is less than half of what it was then). 

 

The graph below shows how median income has changed since 1967.

 

See  The Growth of Family Income Isn’t Primarily Explained by the Rise of Dual-Income Families by Jeremy Horpedahl.

This next graph shows how the gini coefficient has changed over time. I think this is based on household income. As gini rises, the distribution of income gets less equal, meaning people at the top have a larger share of income. The first year of the graph is 1967.

 

But for full-time, year round workers it has not risen as much over time. So not a very large change in inequality.

 

Here are links to two news articles:

Americans’ incomes rose and poverty fell in 2025, Census Bureau says by Matt Peterson of CNBC.

US poverty rate dips to lowest on record, Census Bureau says by Ahmed Aboulenein and Lucia Mutikani of Reuters.

Other related links:

Single-parent poverty from the Federal Reserve Bank of St. Louis.

The Level and Trend of Poverty in the United States, 1939-1979 by Christine Ross, Sheldon Danziger and Eugene Smolensky. 

Related posts:

The official poverty rate fell 0.4 percentage points to 10.6% in 2024 (2025) 

U.S. Incomes Climbed Last Year, Census Bureau Says (poverty fell and inequality was little changed): Household incomes rose 4% from 2022 to 2023, the first rise since the start of the Covid-19 pandemic (2024) 

Income, Poverty and Health Insurance Coverage in the United States: 2022 (2023)

U.S. Incomes Fail to Grow for Second Year in a Row, Census Figures Show (2022)

The U. S. Poverty Rate Was 10.5% in 2019, An All-Time Low (2020) 

The Level and Trend of Poverty in the United States, 1939-1979 (2018)

Mean Family Income By Quintiles (2017) 

More On Poverty (2012)

Some Possibly Surprising Facts About Poverty (2012)

What has happened to the distribution of wealth in recent years? (2011)

Tuesday, September 15, 2026

Is it dangerous to say that entrepreneurs are heroes?

Back in the early 1990s, I wrote a paper called "The Creative-Destroyers: Are Entrepreneurs Mythological Heroes?"  Unfortunately it was never published even though I tried several journals.

A reviewer at one journal said "The conclusion that entrepreneurs are heroes seems to be very dangerous!" That was in 1993. The journal was the Journal of Small Business Management.

There is a picture of this review below. After that is a link to where I posted this paper here on my blog. Then there are also links to the many people have said that entrepreneurs are heroes. Then after links to other articles there is a screenshot of an article from the Journal of Small Business Management in 2017 that does mention the similarities between Campbell’s mythological hero and the entrepreneur. The key passages are highlighted and my research is mentioned.

 

"The Creative-Destroyers: Are Entrepreneurs Mythological Heroes?" (Part 1). I posted it in several parts and all of the parts are linked at Part 1. For a short, one page version see An Essay In Honor Of "Small Business Saturday" And Entrepreneurs Everywhere.

Many people over the years have said that entrepreneurs are heroes.

Are we confounding heroism and individualism? Entrepreneurs may not be lone rangers, but they are heroic nonetheless by Jeffery S. McMullen in 2017.

See The Entrepreneur on the Heroic Journey by Dwight R. Lee & Candace Allen in 1997.

See Kirzner’s Entrepreneur and the Hero’s Journey by Amir Iraji in 2025.

See Towards a mythic process philosophy of entrepreneurship by Lauri J. Laine & Ewald Kibler. 

See  Who Says Entrepreneurs Are Heroes? (Remarks prepared for the first HERO'S JOURNEY ENTREPRENEURSHIP FESTIVAL, March 31st, 2007 at Pepperdine University). You can also read it here. This has even more people who have said it.

See Does It Matter If We Call Entrepreneurs Heroes? This also has more people who have said it.


Sunday, September 13, 2026

Sheep and Pins: Thomas More and Adam Smith on Utopia

I asked Claude AI to write a dialogue between these two men discussing More's book Utopia. The image was created by Google's AI Gemini. One particular issue that came up was the "encolsure acts." I have more about this after the discussion.

Thomas More was executed in 1535. Adam Smith was born in 1723. The two never met — but their ideas have been arguing with each other for five centuries, so it seemed worth letting them do it directly.

A plain wooden table, outside of time. One man wears the fur-trimmed robe of a Tudor Lord Chancellor; the other, the modest coat of an eighteenth-century Scottish professor. Between them lies a worn copy of Utopia.

SMITH: Master More, I confess I came to your book with the same suspicion I bring to any scheme promising to cure poverty by decree. I finished it uncertain whether I had read a proposal or a jest.

MORE: Both, Mr. Smith, and neither — which is the trouble with being taken seriously. I named my traveler Hythloday, "well-practiced in nonsense," and my island Utopia, "no-place." I left myself a door to escape through, should anyone call it sedition. The door has not stopped every leveller since from quoting me as a prophet.

SMITH: Then let me ask you plainly, before we go further. Your Hythloday says that wherever there is private property, there can be no just commonwealth. Do you mean it?

 

MORE: I mean that I watched sheep eat men. That is not a figure of speech I offer you for color, sir — I watched lords enclose the common fields their tenants had ploughed for generations, to run sheep instead, because wool paid better than tenants did. The tenants went to the roads, and from the roads, being idle by necessity, to the gallows for theft — since a hanged man costs nothing to feed. I wrote Utopia because England disgusted me, and satire was the only form in which a man might say so and keep his head. Though I lost mine regardless, in the end, for an entirely different offense.

SMITH: On the disease, sir, we will not quarrel. I have made a similar case against my own country's laws — the statutes of apprenticeship that lock a poor man out of a trade for want of the right guild, the settlement laws that pin a laborer to his parish like a nail in a board so he cannot follow his wage to where it is wanted, the corn laws that starve the many to enrich the few who own the land. Bad law manufactures poverty as reliably as any famine. Where I part from you is the remedy. You would abolish property. I would abolish privilege. They are not the same thing, though I grant they are easily confused by men who profit from the confusion.

MORE: Tell me the difference, then, and tell it plainly. I've little patience left for men who hedge.

SMITH: Privilege is a law that says: only this guild may weave, only this company may trade to the Indies, only this house may hold this land entailed forever regardless of what use it makes of it. Property, plainly held and freely exchanged, is another matter entirely — it is what lets the weaver keep the coat he wove and trade it to the baker for bread, each following his own advantage, and between them producing more coats and more bread than any office of state could requisition into being. I have called the mechanism, in a phrase that has embarrassed me rather more than I foresaw, an invisible hand. Free the man from the abbey and let him bargain — do not simply move him from a private master to a public one, which is, forgive me, what your Syphogrants are beginning to resemble as you describe them.

MORE: My magistrates stand for election every year and answer to the men they govern, Mr. Smith, which is rather more than I can say for the gentlemen who wrote your enclosure Acts. But I won't pretend I built Utopia on faith in the bargain. I built it on the conviction that a man left to his own advantage will help himself to his neighbor's roof to build his own barn, and call it industry. You speak of sympathy checking self-love — of a butcher who feeds the town not from kindness but from interest — and I don't doubt the butcher feeds the town. I ask what becomes of the town the day the butcher discovers he can feed it better, and himself far better, by enclosing the very pasture the town's cattle graze on.

SMITH: Then he has stopped being a butcher trading in a free market and become a lord securing a monopoly by force of law — and I object to him as strenuously as you do. Perhaps more strenuously, since I have spent a great many pages of a very long book cataloguing the tricks by which merchants and manufacturers conspire against the public. I'll confess to you privately that I trust a room full of tradesmen discussing prices about as far as I'd trust a fox auditing a henhouse. My quarrel isn't with your diagnosis of greed, Master More. It's with your cure. You cure greed by removing the possibility of gain. I'd rather cure it by multiplying the number of men competing for it, so no single greed ever grows large enough to swallow a parish whole.

MORE: And when the competition itself becomes the disease? When men labor from dark to dark at one motion of one pin, so that one merchant may undersell his neighbor?

SMITH: (a short, rueful laugh) You've found my own objection and turned it neatly against me — I suspect you enjoyed that. I have written, and I stand by it though it pleases me less each year I consider it, that a man confined his whole life to a few simple operations has no occasion to exert his understanding, and becomes generally as stupid as it is possible for a human creature to become. I did not write that to celebrate the division of labor without condition. I wrote it as a debt: whatever a commonwealth gains from the pin trade, it owes its pin-makers something back — an education, at public charge if need be — to restore what the trade has worn away. In that much, sir, I think we stand nearer than you'll allow. Your citizens labor six hours and give the rest to the mind. I would not hand England six hours yet; we haven't the wealth for it. But I would not have her forget that the wealth is for the six hours, and not the other way round.

MORE: (something eases in him) That is very close to the only sentence in political philosophy I have ever fully believed. Since you set such store by gold as a medium of exchange, tell me — what do you make of my Utopians melting it down for chamber pots, and forging it into chains for their slaves, and giving their children pearls to play with until the children are old enough to be ashamed of wanting them?

SMITH: I admired that passage more than any other in your book, and for reasons you may not expect. I have spent the opening pages of my own work insisting that gold and silver are not wealth at all, only its counters — that a kingdom which piles up bullion while its fields go unplowed and its people go hungry has mistaken the coin for the bread it buys. Spain filled her galleons with the silver of the Americas and grew poorer doing it. On the folly of worshipping metal, Master More, you and I are in perfect agreement. We differ only in this: you conclude the metal should be despised. I conclude it should be correctly understood — as a tool, useful for exactly as long as no one mistakes the tool for the work it does.

MORE: A tool. (he turns the word over) I built an island where the tool could never be mistaken for the work, because I gave it no honor at all to begin with. You would leave the tool its honor, but keep it watched.

SMITH: Watched, and multiplied in the watching — by every baker and weaver and farmer bargaining in his own light, none of them trusted alone, all of them checked by one another's competing interest, which I have found, in my long study of merchants, to be a steadier guard than any single virtue a state can instill by statute. You built your Utopia on citizens persuaded, or bred, or schooled, never to want more than their fellows. I have not met that man, Master More. I have met a great many men who want a great deal more than their fellows, and my whole design is to arrange the traffic between them so the wanting does some good on its way past.

MORE: Then here, perhaps, is the true quarrel between your century and mine, stripped of pins and gold and sheep. You believe a man's wanting can be harnessed. I believed it first had to be shamed.

SMITH: And which of us, do you suppose, asked less of human nature?

MORE: (a long pause; then, almost a smile) That may be the better question, and I am not sure I care for my own answer to it. I never mistook my island for a plan, you know. Hythloday sails home, and no one follows him there — I saw to that myself, before any censor could. I threw a stone in the water once, only to see how far the ripples traveled. It pleases me more than I can easily say, to learn they reached a Scotsman writing about pins.

SMITH: They reached further than pins, sir. I built my whole system on the same wager you built your island on — that the true measure of any commonwealth is what it leaves for the poorest man in it at the close of the day's work. You would likely call mine unfinished business. I'm not entirely sure I'd argue with you.

A silence, not unfriendly. More closes the book on the table between them. 

MORE: Then we are agreed on the only question that ever truly mattered, and in disagreement on every method of answering it. I find, on reflection, that this is roughly the condition of most of philosophy.

SMITH: (rising, gathering his coat) Then I'll leave you your island, and keep my pins, and we may each hope the other was wrong about the details, and right about the debt.

See The Enclosure Acts from the University of Delaware. Excerpts:

"The Enclosure Acts were essentially the abolition of the open field system of agriculture which had been the way people farmed in England for centuries. The ownership of all common land, and waste land, that farmers and Lords had, was taken from them. Any right they had over the land was gone. New fields were designed, new roads were added, and the land was eventually re-allocated to different farmers and Lords. Originally this process was agreed upon through informal agreement but Parliament took over during the 17th century. Between 1604 and 1914 there were over 5,200 bills enacted by Parliament which equates to a little more than one fifth of England.

England utilized an Open Field system for much of its history before the start of the Enclosure. This system worked well because it suited what was needed by society at the time. Agricultural and cultivation systems were not very advanced, but it allowed each village to be self-sufficient. This was extremely necessary because transportation was still very primitive. However, over time things began to change. Transportation became much easier with the implement of new roadways, canals and waterways were easier to navigate, and agricultural knowledge increased. In the end, the open field system was not capable of reaping all of the benefits of the newly industrialized England. Therefore, by taking control of the land, the government was able to decide the uses for the land based on what suited it best. This increased the efficiency and profitability of farming. Efficient agriculture was greatly needed at this time due to the fast increase in population; demand for food was at it’s all time highest." 

See A lot of educated people, especially if they’ve read Marx, have heard about enclosures. Most of what they know ain’t so by 

"Enclosures increased the number of workers in villages."

In the 1700s "Inefficient growing of wheat was replaced by efficient growing of wheat.

"The factories were in the North of England, not in the South, where the enclosures actually happened. No one moved from the South to the North. The Workers in the factories came from Ireland or the North-which were areas with no enclosures."

See The Enclosures and the Industrial Revolution from Don Boudreaux.

"In her remarkable 2010 volume, Bourgeois Dignity, McCloskey writes on page 154 that, in attempting to explain the industrial revolution, Karl Marx

instanced enclosure in England during the sixteenth century (which has been overturned by historical findings that such enclosure was economically minor) and in the eighteenth century (which has been overturned by findings that the labor driven off the land by enclosure was a tiny source of the industrial proletariat, and enclosure happened then mainly in the south and east where in fact little of the new sort of industrialization was going on, and where agricultural employment in newly enclosed villages in fact increased).

A few pages later (pages 172-173), McCloskey adds:

By now, though, several generations of agricultural historians have argued (contrary to the Fabian theme first articulated in 1911, which followed Marx) that eighteenth-century enclosures were in many ways equitable and did not drive people out of the villages…. Contrary to the pastoralism of [Oliver Goldsmith’s 1770] poem – which as usual reflects aristocratic traditions in poetry back to Horace and Theocritus more than evidence from the English countryside – the commons was usually purchased rather than stolen from the goose. One can point with sympathy to the damaging of numerous poor holders of traditional rights without also believing what appears to be false – that industrialization depended in any important way on the taking of rights from cottagers to gather firewood on the commons. Industrialization, after all, occurred first in regions to the north and west, mainly enclosed long before, such as Lancashire or Warwickshire, and especially (as Eric Jones pointed out) in areas bad for agriculture, not in the fertile East Midlands or East Anglia or the South – the places where the parliamentary acts of the eighteenth century did transform many villages, though non “deserted.” In such freshly enclosed areas, I repeat, the local populations increased after enclosure."

Friday, September 11, 2026

The Seasonally Adjusted CPI Was Up 0.396% in August

Here are the changes in the seasonally adjusted CPI for the six months ending in June: 

Feb. 0.2670
March 0.8651%
April 0.6400%
May 0.4729%
June -0.4220%
July 0.0737%
 
See Consumer Price Index for All Urban Consumers: All Items in U.S. City Average from FRED (Federal Reserve Economic Data) compiled by the Research Division at the Federal Reserve Bank of St. Louis for data on the seasonally adjusted CPI.  

That site shows a graph but if you click on the Download button you will get the actual numbers in Microsoft Excel.

The Consumer Price Index for All Urban Consumers: All Items in U.S. City Average (CPIAUCSL) was 332.813 in July and 334.131 in Aug. Since 334.131/332.813 = 1.00396, that means it was up 0.396%. If we had that every month for 12 months the CPI would be up 4.86%. 

It was 323.291 in Aug. 2025. Since 334.131/323.291 = 1.0335, that means it was up 3.35% over the last 12 months. 

The non-seasonally adjusted CPI was 334.980 in Aug. and 323.976 in Aug. 2025. That was up 3.4%. So pretty close to the seasonally adjusted CPI. This is well above the Fed's target of 2.0% (although they prefer to use the Personal Consumption Expenditures Price Index which was 3.7% higher in July 2026 than July 2025).

For more information see Inflation persisted in August, potentially locking in a Fed interest rate hike by Jeff Cox of CNBC. Excerpt:   

"Prices for a wide swath of goods and services continued to climb in August, according to a report Friday that raises the specter of a Federal Reserve interest rate hike next week.

The consumer price index rose a seasonally adjusted 0.4% for the month, putting the 12-month increase at 3.4%, the Bureau of Labor Statistics reported Friday. Both readings were in line with the Dow Jones consensus.

However, stripping out volatile food and energy prices, the core CPI posted a 0.3% monthly gain, or 0.1 percentage point higher than forecast. The core annual rate came in at 2.4%, matching the estimate."

The article also discusses what types of products are going up in price and what is going down. There is a graph of the monthly year-over-year percent change in prices and core prices going back almost 4 years.

Related material: 

Consumer Price Index for All Urban Consumers: All Items Less Food and Energy in U.S. City Average (CPILFESL) This is also from from FRED (Federal Reserve Economic Data), compiled by the Research Division at the Federal Reserve Bank of St. Louis. It has the seasonally adjusted core CPI.
 
 
 
The Bureau of Labor Statistics makes seasonal adjustments. See Consumer Price Index Summary.
 
The table below has the annual inflation rate since 1914 in the columns labeled CPI %Ch. or CPI percentage change. It is from Consumer Price Index Data from 1913 to 2026 and is not seasonally adjusted. It is also the December to December change in the CPI. That site also looks at how the 12 month average for the CPI changed from one year to the next.
 

Year

CPI %Ch.

 

Year

CPI %Ch.

 

Year

CPI %Ch.

 

Year

CPI %Ch.

1914

1

 

1944

2.3

 

1974

12.3

 

2004

3.3

1915

2

 

1945

2.2

 

1975

6.9

 

2005

3.4

1916

12.6

 

1946

18.1

 

1976

4.9

 

2006

2.5

1917

18.1

 

1947

8.8

 

1977

6.7

 

2007

4.1

1918

20.4

 

1948

3

 

1978

9

 

2008

0.1

1919

14.5

 

1949

-2.1

 

1979

13.3

 

2009

2.7

1920

2.6

 

1950

5.9

 

1980

12.5

 

2010

1.5

1921

-10.8

 

1951

6

 

1981

8.9

 

2011

3

1922

-2.3

 

1952

0.8

 

1982

3.8

 

2012

1.7

1923

2.4

 

1953

0.7

 

1983

3.8

 

2013

1.5

1924

0

 

1954

-0.7

 

1984

3.9

 

2014

0.8

1925

3.5

 

1955

0.4

 

1985

3.8

 

2015

0.7

1926

-1.1

 

1956

3

 

1986

1.1

 

2016

2.1

1927

-2.3

 

1957

2.9

 

1987

4.4

 

2017

2.1

1928

-1.2

 

1958

1.8

 

1988

4.4

 

2018

1.9

1929

0.6

 

1959

1.7

 

1989

4.6

 

2019

2.3

1930

-6.4

 

1960

1.4

 

1990

6.1

 

2020

1.4

1931

-9.3

 

1961

0.7

 

1991

3.1

 

2021

7

1932

-10.3

 

1962

1.3

 

1992

2.9

 

2022

6.5

1933

0.8

 

1963

1.6

 

1993

2.7

 

2023

3.4

1934

1.5

 

1964

1

 

1994

2.7

 

2024

2.9

1935

3

 

1965

1.9

 

1995

2.5

 

         2025    

          2.7

1936

1.4

 

1966

3.5

 

1996

3.3

 

 

 

1937

2.9

 

1967

3

 

1997

1.7

 

 

 

1938

-2.8

 

1968

4.7

 

1998

1.6

 

 

 

1939

0

 

1969

6.2

 

1999

2.7

 

 

 

1940

0.7

 

1970

5.6

 

2000

3.4

 

 

 

1941

9.9

 

1971

3.3

 

2001

1.6

 

 

 

1942

9

 

1972

3.4

 

2002

2.4

 

 

 

1943

3

 

1973

8.7

 

2003

1.9

 

 

 

 
Here is a timeline graph of this data: