Several current phenomena puzzle me. Maybe some of Liberty’s readers have answers. I’ll save one puzzle about politics until the end of this Reflection.
- BP, notorious for spilling oil in the Gulf, has been filling TV screens with ads about its concern for the region’s prosperity. According to these ads, it has installed “cutting edge” technology and a “state-of-the-art” monitoring system operating “twenty-four/seven.” How can BP and its advertising agency believe that its public image benefits from the insincerity suggested by three clichés in ten or fifteen seconds in an ad often repeated in a few minutes?
- In its ads Kroger, the grocery chain, offers reduced prices if one buys at least a specific number of specified items or spends at least a specific amount on them. To take advantage of the deal, the customer has to count which of them he really wants or is willing to stock up on and how much, in dollar terms, he wants them. This additional little complication to life often makes me omit buying the one or few specified items that I do want; I don’t want to yield to the price discrimination. Sometimes I even shop at another supermarket. My reaction may be irrational in the most narrowly economic sense, but I think it is human. I wonder how common such reactions are and whether Kroger takes them into account.
- Charities often send out personalized return-address stickers, presumably to put recipients on a guilt trip if they do not contribute. Almost without exception these stickers put a title before the name — in my case “Professor,” “Prof.,” “Dr.,” or “Mr.” Don’t these fund-raisers realize that it is bad form (except perhaps for a physician) to refer to oneself with a title? The name alone is better.
- Expressing my next puzzle might seem to be a complaint about other people. It is not; I am genuinely curious. Why do so many people want almost continuous contact with one another, as by cellphone, texting, Facebook, Twitter, and other social media? Myself, I do not want to send or receive hourly or daily bulletins about the trivia of everyday life, not even to or from close friends. I understand that the social media are useful in coordinating revolutions, but what accounts for their popularity in the United States?
- Whatever became of the half-dollar? Why is the quarter the largest denomination of coin routinely circulating in the United States?
- Why does bitcoin, the digital currency, receive the respect it does in the popular press? A full-fledged currency must maintain a reasonably stable and predictable value, at least over the time between a holder’s receiving it and paying it out in transactions. Bitcoin’s value, however, has been monstrously unstable, ranging from $13.50 in January 2013 to $782 in mid-November, then falling back. How could people confidently use such a currency for pricing and regular transactions, let alone for long-term or even short-term loans? A sound money derives a determinate value either by linkage to some commodity like gold or by regulation of its quantity with some attention for the demand to hold it. Bitcoin, however, is created in a decentralized and capricious way as the reward for solving difficult mathematical problems requiring much expensive computer time; the problems become more and more challenging so as supposedly to put a ceiling of 21 million on the total issue. The system lacks the transparency required for a sound currency of determinate value.
Its wide fluctuations do give bitcoin an appeal for speculators. Yet for anyone interested in a nongovernmental currency that performs all the functions of a normal money and that, moreover, allows a high degree of anonymity in transactions, ideas for reform must run along other lines. Bitcoin remains a puzzling distraction.
- My last puzzle centers on a fund-raising letter from Speaker John Boehner enclosing a purported survey of opinion. The questions are slanted to draw desired answers. The phoniness of the whole business is epitomized by the date on Boehner’s letter, “Monday morning” — nothing more. (I received the letter and survey on Monday afternoon, November 18.) Many such appeals — complete with the provocative phony dating — have arrived in my mailbox from Republican politicians over the years; I wonder what the Democrats send out. Anyway, how can anyone believe that such phoniness attracts rather than repels voters and contributors?