Comments on: anthropology and economics, culture and commerce http://cultureby.com/2004/04/anthropology_an.html This Blog Sits At the Intersection of Anthropology and Economics Wed, 08 Feb 2012 08:43:22 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: luke http://cultureby.com/2004/04/anthropology_an.html/comment-page-1#comment-8124 luke Thu, 09 Dec 2004 10:42:54 +0000 http://localhost/wp_culture/?p=1245#comment-8124 I think Oscar Wilde is credited with the notion that "the cynic knows the market price of everything, but the value of nothing." I came to New York from upstate, and for the first 10 years, I would around like a Canadian, noting the price of everything with eyebrows wide. This townhouse, that limo, his watch, my shoes... . Living in Manhattan (which does have just $1.5 million finalists out of the 8 or 9 million also rans who come over the bridges and through the tunnels), makes it easy to forget that you really are in the capital of the world. But every once in a blue moon, it reminds you. You might be drinking in a bar, and a wealthy man from Argentina wants to buy you and all your friends a drink and you wonder about him. If you are New York, your mind first asks "what's his angle?" before that inner Canadian (or upstate New Yorker) kicks in and asks "where did he get that kind of scratch?" But the fact is, he is a diplomat's son, or he is a traider for one of their cental banks who just buys American Treasury bonds all day, or he manages real estate that captures all of the capital flight from that country. And so it goes for him, and the 170 other countries from where people come to NYC to plant a flag, and shelter their value from the world. Your lamenting culture and value and economics and prices for New York Real Estate reminds me of the Australian lawyer who lost his wallet on 14th street at Union Square with 600 dollars in it last year. I found it and gave it all back. He came to my bank carrying Moet to tell my boss what I had done, as if it was an act of god. Very amazing to him that; but just another day in the big village for me. When the supply of something is out stripped by demand for it... well, all bets are off. The Dutch demonstrated that with tulips a long time ago. Eskimos have 12 words for snow. And so, the internet has Manhattan divided into 12 neighborhoods (that real estate deveolpers named and renamed-- Soho, leads to Noho; Hells Kitchen became "Clinton" when that Elvis impersonator took office.) Money make the mare go. In one of his big blockbusters, Tom Cruise tell us that his father said that the answer to ninty-nine out of 100 questions is "Money". Old saws build old bridges and old tunnels. More interesting is the question of how and why markets destroy and create value. How did bankers, brokers, PR people and assorted other bag men make the paper of a company that is famous for its internet browser, I am talking Yahoo now (which you do not even use anymore) worth 1000 years its earnings? How did they extract 1000 years it earnings from the market? What are the stories they told each other to make that happen? How does it continue to trade on such an absurd valuation? Why does the business news quote us the Dow index every hour, but provide no context, or true coverage of events such as this. After all, if a fire breaks out in Chelsea, they are right there interviewing people who are paralized by grief. I am thinking that your a smart guy, you need to dig a little deeper. I think Oscar Wilde is credited with the notion that “the cynic knows the market price of everything, but the value of nothing.” I came to New York from upstate, and for the first 10 years, I would around like a Canadian, noting the price of everything with eyebrows wide. This townhouse, that limo, his watch, my shoes… . Living in Manhattan (which does have just $1.5 million finalists out of the 8 or 9 million also rans who come over the bridges and through the tunnels), makes it easy to forget that you really are in the capital of the world. But every once in a blue moon, it reminds you. You might be drinking in a bar, and a wealthy man from Argentina wants to buy you and all your friends a drink and you wonder about him. If you are New York, your mind first asks “what’s his angle?” before that inner Canadian (or upstate New Yorker) kicks in and asks “where did he get that kind of scratch?” But the fact is, he is a diplomat’s son, or he is a traider for one of their cental banks who just buys American Treasury bonds all day, or he manages real estate that captures all of the capital flight from that country. And so it goes for him, and the 170 other countries from where people come to NYC to plant a flag, and shelter their value from the world.
Your lamenting culture and value and economics and prices for New York Real Estate reminds me of the Australian lawyer who lost his wallet on 14th street at Union Square with 600 dollars in it last year. I found it and gave it all back. He came to my bank carrying Moet to tell my boss what I had done, as if it was an act of god. Very amazing to him that; but just another day in the big village for me. When the supply of something is out stripped by demand for it… well, all bets are off. The Dutch demonstrated that with tulips a long time ago. Eskimos have 12 words for snow. And so, the internet has Manhattan divided into 12 neighborhoods (that real estate deveolpers named and renamed– Soho, leads to Noho; Hells Kitchen became “Clinton” when that Elvis impersonator took office.) Money make the mare go. In one of his big blockbusters, Tom Cruise tell us that his father said that the answer to ninty-nine out of 100 questions is “Money”. Old saws build old bridges and old tunnels. More interesting is the question of how and why markets destroy and create value. How did bankers, brokers, PR people and assorted other bag men make the paper of a company that is famous for its internet browser, I am talking Yahoo now (which you do not even use anymore) worth 1000 years its earnings? How did they extract 1000 years it earnings from the market? What are the stories they told each other to make that happen? How does it continue to trade on such an absurd valuation? Why does the business news quote us the Dow index every hour, but provide no context, or true coverage of events such as this. After all, if a fire breaks out in Chelsea, they are right there interviewing people who are paralized by grief. I am thinking that your a smart guy, you need to dig a little deeper.

]]> By: The Ideas Bazaar http://cultureby.com/2004/04/anthropology_an.html/comment-page-1#comment-8125 The Ideas Bazaar Mon, 03 May 2004 16:04:26 +0000 http://localhost/wp_culture/?p=1245#comment-8125 <strong>At the intersection</strong> A blog that's eluded me til now: how? By the author of Culture by Commotion, this weblog "sits at the intersection of anthropology and economics". These two essays act, in the author's opinions, as fine bookends for the blog. They... At the intersection

A blog that’s eluded me til now: how? By the author of Culture by Commotion, this weblog “sits at the intersection of anthropology and economics”. These two essays act, in the author’s opinions, as fine bookends for the blog. They…

]]> By: Roger Sweeny http://cultureby.com/2004/04/anthropology_an.html/comment-page-1#comment-8123 Roger Sweeny Tue, 20 Apr 2004 12:54:48 +0000 http://localhost/wp_culture/?p=1245#comment-8123 Actually, the island of Manhattan (New York County) contains about 1.5 million people. Eight million is the population of the entire City of New York, which also includes Brooklyn (Kings County), Queens (Queens County), the Bronx (Bronx County), and Staten Island (Richmond County). Actually, the island of Manhattan (New York County) contains about 1.5 million people. Eight million is the population of the entire City of New York, which also includes Brooklyn (Kings County), Queens (Queens County), the Bronx (Bronx County), and Staten Island (Richmond County).

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