Baseball and Cricket

20 05 2010

Cricket Match in Toronto, 1 August 1914. Source: City of Toronto Archives

Baseball orginated in the British Isles. Cricket was popular in the United States in the 19th century. Yet today, baseball is the national pastime in the United States and cricket is regarded by most North Americans as a British sport. Baseball has died out in the UK. Why is this the case? Sports historians have debated this issue for years. Now, a new exhibition at Lord’s cricket grounds in London is tackling the issue. The online version of the ‘Swinging Away: How Cricket and Baseball Connect’ exhibit includes an audio slideshow.

To listen to a short radio interview about this exhibit, click here.





Zotero: What Do You Think?

20 05 2010

Zotero bills itself as a powerful, easy-to-use research tool that allows academics to research, write, and cite with greater ease. I’m interested in what readers of this blog think of Zotero? How does it compare to EndNote and the equivalent products?

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Is Higher Education Worth It?

18 05 2010

A small but noisy group of authors in the United States argue that going to college is overrated. These authors, most of whom are conservatives, say that many students who go to college today should not be there. Their ranks include Richard K. Vedder of Ohio University and  the political scientist Charles Murray, who once advanced controversial arguments about race, poverty, and the genetic determinants of intelligence.  They argue that the US is producing a generation of barristas with sociology degrees. This is an argument that has been heard since the 1970s, when a book called the Over-Educated American was published by Richard Freeman.

In today’s New York Times, David Leonhardt has published a very effective rejoinder to these critics: the hard data regarding the growing income differential between Americans who have a degree and those who don’t. This data shows that the differential has been growing since the late 1970s. (Richard Freeman’s timing could not have been worse and in event Freeman should have been more aware of the irony of an educated man writing a book to criticize education).

Leonhardt writes: “Relative to everyone else, college graduates have never done better than they are doing right now. In absolute terms, of course, they too have been hurt by the deep recession that began in late 2007. But they have suffered much less, on average, than workers with less education. They have been less likely to lose their jobs, and their paychecks have survived the downturn much better.”

What is true in the USA appears to be true in other industrialized countries. Let me quote an OECD report, Can The World Be Too Educated?:

“In all OECD countries, the average earnings premium associated with tertiary compared to upper secondary education is more than 25% and in some cases is more than 100%. Also, in those countries that have not expanded their third-level education, a failure to complete upper secondary education is associated with an 80% greater probability of being unemployed, compared to less than 50% in those countries that have increased tertiary education the most.”

We can argue about the relative merits of different sorts of postsecondary education. In fact, we need much more debate on this issue. However, the benefits of investing in some sort of higher education are an open and shut case. The real question is: why are so many political conservatives in the United States skeptical of higher education when the economic benefits of getting a degree are so obvious? I think that the real answer is connected to the cultural politics of the US and the fear that students who go to university may graduate as pro-gay, cosmopolitan, atheist feminists or something like that.

I have one other thought. US conservatives often attack the European way of doing things (e.g., socialized medicine). “French” is their all purpose term of abuse. However, Charles Murray, etc., seem to be arguing that the US should have a more European system of higher education. In Germany, only a relatively small proportion of young people go to university and the rest are funnelled into apprenticeship programs. The university curriculum is also pretty conservative with a heavy emphasis on rote memorization and tough subjects such as Latin. The US,which has a freer market approach to higher education, has thousands of colleges competing for the tuition dollars of students. The result is that even students with mediocre high school marks can get into some soft college program (e.g., cultural studies) and join a fraternity.





Press Gangs in Canada

18 05 2010

The Canadian Historical Review Volume volume 91, Number 2 / June 2010 is now available

This issue contains  a very interesting article by Keith Mercer, “Northern
Exposure: Resistance to Naval Impressment in British North America,
1775-1815”

1780 Caricature of a Press Gang

Abstract : Focusing on resistance, this article examines naval impressment
in British North America from 1775 to 1815. Although neglected in Canadian
historiography, press gangs sparked urban unrest and political turmoil in
seaports such as Halifax, St John’s, and Quebec City. Impressment reached
into most coastal areas of British North America by the early nineteenth
century and its sailors and inhabitants employed a range of strategies to
resist it. They also confronted it directly, sometimes with violent results.
Press gang riots in St John’s in 1794 and Halifax in 1805 led to a
prohibition on impressment on shore for much of the Napoleonic Wars. Popular
protest served as the catalyst for official resistance to the British Navy
and had a lasting impact on civil-naval relations in the North Atlantic
world. While the study of popular disturbances in Canadian history usually
begins in the mid-nineteenth century, this paper shows that they were
important in earlier generations as well. This was often the result of
tensions caused by imperial warfare and quarrels with military personnel.

The other articles in this issue of the CHR also look interesting: ‘Rising Strongly and Rapidly’: The Universal Negro Improvement Association in Canada, 1919-1940 by Carla Marano; No Longer a ‘Last Resort’: The End of Corporal Punishment in the Schools of Toronto by Paul Axelrod; and Fireworks, Folk-dancing, and Fostering a National Identity: The Politics of Canada Day by Matthew Hayday.





Michael Bellesiles is Back

17 05 2010

A number of years ago, there was a scandal about historian Michael A. Bellesiles’s book Arming America: The Origins of a National Gun Culture. Bellesisles got the Bancroft Prize for this book, but then it was revealed that he had faked a lot of his evidence, so he lost his prize and his academic credibility.

It turns out that Bellesisles is back and has a new book coming out. See here and here.





Bloggingheads.tv

14 05 2010

Do too many people go to university? Matthew Yglesias and Stephen Spruiell debate this issue.

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New Book on the HBC

14 05 2010

The records of the Hudson’s Bay Company formed the basis of a new book by Ann Carlos and Frank Lewis. I haven’t read the book yet, but it looks very promising.

Abstract:

“Commerce by a Frozen Sea is a cross-cultural study of a century of contact between North American native peoples and Europeans. During the eighteenth century, the natives of the Hudson Bay lowlands and their European trading partners were brought together by an increasingly popular trade in furs, destined for the hat and fur markets of Europe. Native Americans were the sole trappers of furs, which they traded to English and French merchants. The trade gave Native Americans access to new European technologies that were integrated into Indian lifeways. What emerges from this detailed exploration is a story of two equal partners involved in a mutually beneficial trade.

Drawing on more than seventy years of trade records from the archives of the Hudson’s Bay Company, economic historians Ann M. Carlos and Frank D. Lewis critique and confront many of the myths commonly held about the nature and impact of commercial trade. Extensively documented are the ways in which natives transformed the trading environment and determined the range of goods offered to them. Natives were effective bargainers who demanded practical items such as firearms, kettles, and blankets as well as luxuries like cloth, jewelry, and tobacco—goods similar to those purchased by Europeans. Surprisingly little alcohol was traded. Indeed, Commerce by a Frozen Sea shows that natives were industrious people who achieved a standard of living above that of most workers in Europe. Although they later fell behind, the eighteenth century was, for Native Americans, a golden age.”

Ann M. Carlos
is Professor of Economics at the University of Colorado at Boulder and University College, Dublin. She is originally from Canada and did her PhD at Western. Frank D. Lewis is Professor of Economics at Queen’s University, Ontario.

I’m looking forward to getting my hands on this book.

To order, go here.





Sir John A. Macdonald Honoured in Scotland

12 05 2010

John A. Macdonald, 1875. Image from Library and Archives Canada

Canada’s first prime minister was to be honoured Wednesday at a special ceremony in the Scottish Highlands.

Macdonald– may his spirits live on.
On a related note, someone is trying to rename Wellington Street in Ottawa after Macdonald. Apparently he is offended by having a street named after the Iron Duke or something. The irony is that Macdonald likely admired Wellington a great deal.




Why Did Rating Agencies Do Such a Bad Job Rating Subprime Securities?

12 05 2010

I bet this paper will be downloaded frequently.

———————-

Why Did Rating Agencies Do Such a Bad Job Rating Subprime Securities?

by Claire A. Hill University of Minnesota, Twin Cities – School of Law

University of Pittsburgh Law Review, Forthcoming
Minnesota Legal Studies Research Paper 10-18

Abstract:
“Why did rating agencies do such a bad job rating subprime securities? The conventional answer draws heavily on the fact that ratings are paid for by the issuers: Issuers could, and do, “buy” high ratings from willing sellers, the rating agencies.

The conventional answer cannot be wholly correct or even nearly so. Issuers also pay rating agencies to rate their corporate bond issues, yet very few corporate bond issues are rated AAA. If the rating agencies were selling high ratings, why weren’t high ratings sold for corporate bonds? Moreover, for some types of subprime securities, a particular rating agency’s rating was considered necessary. Where a Standard & Poor’s rating was deemed necessary by the market, why would Standard & Poor’s risk its reputation by giving a rating higher (indeed, much higher) than it knew was warranted?

Finally, and perhaps most importantly, giving AAA ratings to securities of much lower quality is something that can’t be done for long. A rating agency that becomes known for selling its high ratings will soon find that nobody will be paying anything for its ratings, high or low.

In my view, that issuers pay for ratings may have been necessary for the rating agencies to have done as bad a job as they did rating subprime securities, but it was not sufficient. Many other factors contributed, including, importantly, that rating agencies “drank the Kool-Aid.” They convinced themselves that the transaction structures could do what they were touted as being able to do: with only a thin cushion of support, produce a great quantity of high-quality securities. Rating agencies could take comfort, too, or so they thought, in the past – the successful, albeit short, recent history of subprime securitizations, and the longer history of successful mortgage securitizations.

“Issuer pays” did not so much make the rating agencies give higher ratings than they thought were warranted as it gave the agencies a “can do” mindset regarding the task at hand – to achieve the rating the issuers desired, working with them to modify the deal structures as needed. That the issuers were paying motivated the agencies to drink the Kool-Aid; having drunk the Kool-Aid, the agencies gave the ratings they did. My account casts doubt on the efficacy of many of the solutions presently being proposed and suggests some features that more efficacious solutions should have.”

More here.





Why Britain has a coalition government and Canada does not

12 05 2010

Consider this scenario. A general election gives a centre-right political party the largest number of seats in the House of Commons, albeit less than the majority needed to pass laws. Doing what is customary after an election defeat, the incumbent government, which is a centre-left party, resigns. The leader of the centre-right party forms a coalition with the third-place party. The coalition produces a stable majority and gives the third-place party several seats around the Cabinet table. The coalition agreement is slated to run for five years.

This scenario has recently unfolded in Britain. David Cameron now leads a Conservative-Liberal Democrat coalition government. In contrast, coalitions are very rare in Canada.  In the Canadian election of 2006, Stephen Harper ‘s Conservatives got the largest number of seats but less than a majority. Rather than forming a coalition to produce a majority, he opted to govern as a minority, securing the support needed to pass each piece of legislation on an ad hoc basis. The result has been chronic instability and a second general election that largely duplicated the results of the first.

Palace of Westminster

Why didn’t Stephen Harper arrange a coalition instead of governing with a minority? Why didn’t he do a David Cameron? The differences in personality between Harper and Cameron may be factor.  As well, the ideological gulf separating the Canadian Conservatives from their only realistic coalition partner, the hardcore socialist NDP, is far greater than the distance between the British Conservatives and the Liberal Democrats. However, the major reason Harper did not negotiate a majority coalition relates to history. Canada has a long history of fairly successful minority governments and almost no history of coalitions. In contrast, Britain had coalition governments for part of the 20th century, albeit none of them were in living memory, the last coalition having come to an end with the Second World War. The wartime coalition led by Churchill left a fairly positive impression with British people—after all, it had dealt with an existential threat to Britain.

Parliament Hill in Winter

The only real coalition in Canadian history, the Union government of the First World War, is tainted in the historical memory by its association with Conscription and linguistic conflict. Minority governments have fared better in Canada than in the UK. The Pearson government in the 1960s had a productive legislative record and Pearson is now regarded as one of the greatest Canadian Prime Ministers. Even Stephen Harper, a Conservative, compares himself to Pearson.

Pearson

The last minority government in Britain, which existed for a few months in 1974, was a dismal failure, although it must be said that governing Britain in 1974 would be far more challenging than governing Canada in the 1960s, when the economy was booming.

British people have experience with coalitions because the governments of Scotland, Wales, and Northern Ireland are all coalitions. Indeed, power-sharing was central to the deal that created the Northern Ireland assembly. No province in Canada has a coalition government, although there was a coalition government of sorts in  Ontario between 1985 and 1987.

Another key difference between Westminster and Ottawa is that nationalist parties are a minor force in UK politics (the Welsh and Scottish nationalists have only a handful of seats, as do the parties that want Northern Ireland to leave the UK). In contrast, there is only one nationalist party in the Canadian parliament and it has lots of seats.

For Canadian reactions to the coalition in the UK, see here, here, and here.