Studying Jefferson should be a guiding star.
Jamie Gass and Will Fitzhugh write: “Students of reading, writing, and common arithmetick . . . Graecian, Roman, English, and American history . . .,” Thomas Jefferson advised that democratic education “should be… able to guard the sacred deposit of the rights and liberties of their fellow citizens.”
Mid-April marks the 275th anniversary of Jefferson’s birthday. Given his world-changing achievements, this milestone is worthy of recognizing – and of being taught in our public schools. His contributions to the American civilization are incalculable; he was a revolutionary, statesman, diplomat, man-of-letters, scientist, architect, and apostle of liberty.
Rather than forcing a titan like Jefferson to conform to our era’s often Lilliputian-style narcissism, we should study history by entering the past with imagination and humility.
In drafting the Declaration of Independence, the most elegant and universally quoted political document in history, Jefferson displayed his greatest talents. He powerfully combined literary language and self-evident truths to shape the legal and political future of the United States.
The first member of his family to attend college, Jefferson loved books and classical learning. He could read six languages, including ancient Greek and Latin, while his 18th-century education taught him timeless principles.
Jefferson’s trinity of great thinkers – Francis Bacon, Isaac Newton, and John Locke – embodied what’s been called the Enlightenment’s “science of freedom.”
But his favorite writer was the ancient Roman historian Tacitus – a brilliant chronicler of warped, tyrannical emperors. Jefferson’s liberal-arts-centric education instilled in him a vigilance for liberty, which made him ever wary of threats to his republican experiment in ordered self-government.
Legal scholar David Mayer effectively summarized Jefferson’s strict federalism: “constitutions primarily [served] as devices by which governmental power would be limited and checked, to prevent its abuse through encroachments on individual rights…” Jefferson despised the corruptions of kings, standing armies, banks, and cities, which he identified with the Roman and British empires. Read the rest of this entry »
Michael Goodwin writes: Thanks to the recession, we all know about financial bubbles and the damage they cause. But are there such things as political bubbles? I say yes, and believe America is in the midst of one now.
The idea grows out of a book that dissects a financial bubble that popped nearly 300 years ago. In “The Great Mirror of Folly: Finance, Culture and the Crash of 1720,” three Yale professors recount how stocks in France, Britain and the Netherlands soared by 1,000 percent, then crashed.
The authors, according to a Wall Street Journal article, don’t accuse investors of being irrational. They included Isaac Newton and believed new corporate structures would protect them and that trade with the New World marked a global transformation.
In the long run, they were right. But caught up in market mania and blind faith in momentum, they dramatically overpaid for stocks.
That is common bubble behavior, but a similar mania can happen in political movements and turn them into bubbles, too.