Showing posts sorted by relevance for query Mutual & Common. Sort by date Show all posts
Showing posts sorted by relevance for query Mutual & Common. Sort by date Show all posts

Saturday, April 13, 2024

Mutual & Common

Mutual (pronounced myoo-choo-uhl)

(1) Possessed, experienced, performed, etc by each of two or more with respect to the other; reciprocal.

(2) Having the same relation each toward the other.

(3) Of or relating to each of two or more; held in common; shared.

(4) In corporate law, having or pertaining to a form of corporate organization in which there are no stockholders, and in which profits, losses, expenses etc, are shared by members in proportion to the business each transacts with the company:

(5) In informal use, an entity thus structured.

1470–1480: From the Middle English mutual (reciprocally given and received (originally of feelings)), from the Old & Middle French mutuel, from the Latin mūtu(us) (mutual, reciprocal (originally “borrowed”)), the construct being mūt(āre) (to change (source of the modern mutate (ie delta, omicron and all that))) + -uus (the adjectival suffix) + the Middle French -el (from the Latin –ālis (the third-declension two-termination suffix (neuter -āle) used to form adjectives of relationship from nouns or numerals) and rendered in English as –al.  Root was the primitive Indo-European mei- (to change, go, move).  The alternative spelling mutuall is obsolete.  Derived forms used to describe ownership structures such as quasi-mutual and trans-mutual are created as required.  Mutual & mutualist are nouns & adjectives, mutuality, mutualization, mutualism & mutualness are nouns, mutualize, mutualizing & mutualized are verbs and mutually & mutualistically are adverbs; the noun plural is mutuals.

The term "mutually exclusive" is widely used (sometimes loosely) but has a precise meaning in probability theory & formal logic where it describes multiple events or propositions such that the occurrence of any one dictates the non-occurrence of the other nominated events or propositions.  The noun mutualism is used in fields as diverse as corporate law, economic theory, materials engineering, political science and several disciplines within biology (where variously it interacts with and is distinguished from symbiosis).  The phrase "mutual admiration society" is from 1851 and appears to have been coined by Henry David Thoreau (1817–1862) to describe those who habitually were in agreement with each-other and inclined to swap praise.  The "mutual fund", although the structure pre-existed the adjectival use, is from 1950 and these soon came to be known simply as “mutuals”, the word appearing sometimes even in the registered names and the best known of the type were the building societies & benevolent (or friendly) societies, the core structural element of what was the ownership being held in common by the members rather than shareholders.  The concept of the mutual structure is of interest in some jurisdictions because of the suggestion the large assets held by chapters of the Freemasons may be so owned and, with the possibility the aging membership may ultimately result in these assets being dissolved and the proceeds distributed.  If, under local legislation, the structure was found to be mutual, membership might prove unexpectedly remunerative.

The Cold War's "mutually assured destruction" (MAD) is attested from 1963 (although it wasn’t until 1966 it entered general use) and was actually a modification of the Pentagon’s 1962 term “assured destruction” which was a technical expression from US military policy circles to refer to the number of deliverable nuclear warheads in the arsenal necessary to act as a deterrent to attack.  In the public consciousness it was understood but vaguely defined until 1965 when Robert McNamara (1916–2009; US Secretary of Defense 1961-1968) appeared before the House Armed Services Committee and explained the idea was "the minimum threat necessary to assure deterrence: the capability in a retaliatory nuclear attack to exterminate not less than one third the population of the Union of Soviet Socialist Republics (USSR)”.  The “mutual” was added as the number of deployable Soviet warheads reached a critical strategic mass.  The mastery of statistical analysis served McNamara well until the US escalation of the war in Vietnam when the Hanoi regime declined to conform to follow his carefully constructed models of behavior. 

In social media, a mutual is a pair of individuals who follow each other's social media accounts, whether by agreement or organically and there’s something a niche activity is working out the extent to which the behavior happens between bots.  Mutuality (reciprocity, interchange) was from the 1580s.  Mutually (reciprocally, in a manner of giving and receiving), was noted from the 1530s and the phrase mutually exclusive was first recorded in the 1650s.  The specialized mutualism (from the Modern French mutuellisme) dates from 1845, referring to the doctrine of French anarchist-socialist Pierre-Joseph Proudhon (1809-1865) that individual and collective well-being is attainable only by mutual dependence.  In the biological sciences, it was first used in 1876 to describe "a symbiosis in which two organisms living together mutually and permanently help and support one another" although there are those who differentiate mutualism (a type of co-existence where neither organism is directly affected by the other but the influence they exert on other organisms or the environment is of benefit to the other) from symbiosis (where there’s a co-dependency).

Parimutuel betting is from the French invention pari mutuel (mutual betting), the construct being pari (wager, from parier (to bet) from the Latin pariare (to settle a debt (literally “to make equal”)) from par, from paris (equal) + mutuel (mutual).  It describes a gambling system where all bets of a particular type are pooled and from this (gross-pool), taxes and the vigorish (from the Yiddish וויגריש‎ (vigrish), from the Russian вы́игрыш (výigryš) (winnings), the commission or “hose-take" are deducted.  The dividends are then calculated by dividing the remainder (net pool) by all winning bets.  In many jurisdictions it’s called the Tote after the totalisator, which calculates and displays bets already made; in Australia and New Zealand it’s the basis of the original agency structure of the Totalisator Agency Board (TAB).

The adoption of mutual as a synonym for "common" is from 1630s and was long condemned as being used “loosely, improperly and not infrequently, often by those who should know better”; “mutual friend" seemed the most common offence.  The view was that “mutual” could apply to only two objects and “common” should be used if three or more were involved.  Opinion has thankfully since softened.  Mutual and common (in the sense of the relation of two or more persons or things to each other) have been used synonymously since the sixteenth century and the use is considered entirely standard.  Objections are one of those attempts to enforce create rules in English which never existed, the only outcome being the choice of use treated as a class-identifier by those who care about such things and either ignored or un-noticed by most.  Tautologous use of mutual however should be avoided: One should say co-operation (not mutual co-operation) between two states.

Common (pronounced kom-uhn)

(1) Belonging equally to, or shared alike by, two or more or all in question (as in common property; common interests et al).

(2) Pertaining or belonging equally to an entire community, nation, or culture; public (as in common language; common history et al).

(3) Joint; united.

(4) Prevailing; Widespread; general; universal (eg common knowledge).

(5) Customary, habitual, everyday.

(6) In some jurisdictions a tract of land owned or used jointly by the residents of a community, usually a central square or park in a city or town (often as “the commons” or “the common”).

(7) In domestic & international law, the right or liberty, in common with other persons, to take profit from the land or waters of another, as by pasturing animals on another's land (common of pasturage ) or fishing in another's waters (common of piscary).  Of interest to economist and ecologists because of the disconnection between the economic gain from the commons and the responsibility for its care and management.

(8) Vulgar, ordinary, cheap, inferior etc (as a derogatory expression of class, often in phrases such as “common as muck” or “common as potatoes”, the back-handed compliment “the common-touch” applied to politicians best at disguising their contempt for the voters (or, as they refer to us: “the ordinary people”).

(9) In some (particularly Germanic) languages, of the gender originating from the coalescence of the masculine and feminine categories of nouns.

(10) In grammar, of or pertaining to common nouns as opposed to proper nouns.

(11) In the vernacular, referring to the name of a kind of plant or animal but its common (ie conversational) rather than scientific name (the idea reflected in the phrase “common or garden”).

(12) Profane; polluted (obsolete).

(13) Given to lewd habits; prostitute (obsolete).

(14) To communicate something; to converse, talk; to have sex; to participate; to board together; to eat at a table in common (all obsolete vernacular forms).

1250–1300: From the Middle English comun (belonging to all, owned or used jointly, general, of a public nature or character), from the Anglo-French commun, from the Old French, commun (Comun was rare in the Gallo-Romance languages, but reinforced as a Carolingian calque of the Proto-West Germanic gamainī (common) in the Old French and commun was the spelling adopted in the Modern French) (common, general, free, open, public), from the Latin commūnis (universal, in common, public, shared by all or many; general, not specific; familiar, not pretentious), thought originally to mean “sharing common duties,” akin to mūnia (duties of an office), mūnus (task, duty, gift), from the unattested base moin-, cognate with mean.  The Latin was from a reconstructed primitive Indo-European compound om-moy-ni-s  (held in common), a compound adjective, the construct being ko- (together) + moi-n- (a suffixed form of the root mei- or mey (to change, go, move (hence literally "shared by all").  The second element of the compound was the source also of the Latin munia (duties, public duties, functions; specific office).  It was possibly reinforced in the Old French by the Germanic form of om-moy-ni-s  (ko-moin-i) and influenced also the German gemein, and the Old English gemne (common, public).  Comun and its variations cam to displace the native Middle English imene & ȝemǣne (common, general, universal (from the Old English ġemǣne (common, universal)), and the later Middle English mene & mǣne (mean, common (also from the Old English ġemǣne)) and the Middle English samen & somen (in common, together (from the Old English samen (together)). A doublet of gmina.  Common is a noun, verb & adjective, commoner is a noun & adjective, commonality is a noun and commonly is an adverb; the noun plural is commons.

Common has been used disparagingly of women and criminals since at least the fourteenth century and snobs have added categories since as required.  The meanings "pertaining equally to or proceeding equally from two or more" & "not distinguished, belonging to the general mass" was from circa 1400 whereas the sense of "usual, not exceptional, of frequent occurrence" & "ordinary, not excellent" dates from the late fourteenth century.  Common prayer was that done in public in unity with other worshipers as contrasted with private prayer, both probably more common then than now.  The Church of England's Book of Common Prayer was first published in 1549 and went through several revisions for reasons both theological and political.  The 1662 edition remains the standard collection of the prayer books used in the Anglican Communion and while many churches now use versions written in more modern English, there remain traditionalists who insist on one of the early editions.

The common room was noted first in the 1660s, a place in the university college to which all members were granted common access.  The late fourteenth century common speech was used to describe both English and (less often) vernacular (which came to be called vulgar) Latin.  From the same time, the common good was an English adoption of the Latin bonum publicum (the common weal).  Common sense is from 1839 and is U whereas, because of the tortured grammar, 1848’s common-sensible is thought non-U.  The idea of common sense had been around since the fourteenth century but with a different meaning to the modern: The idea was of an internal mental power supposed to unite (reduce to a common perception) the impressions conveyed by the five physical senses (sensus communisin the Latin, koine aisthesis in the Ancient Greek). Thus it evolved into "ordinary understanding, without which one is foolish or insane" by the 1530s, formalised as "good sense" by 1726 with common-sense in the modern sense the nineteenth century expression.

The mid-fourteenth century common law was "the customary and unwritten laws of England as embodied in commentaries and old cases", as opposed to statute law.  Over the years, this did sometimes confuse people because in different contexts (common law vs statute law; common law versus equity; common law vs civil law) the connotations were different.  The phrase common-law marriage is attested from a perhaps surprisingly early 1909.  In the English legal system, common pleas was from the thirteenth century, from the Anglo-French communs plets (hearing civil actions by one subject against another as opposed to pleas of the crown).  In corporate law, common stock is attested from 1888.  The late fourteenth century commoner is from the earlier Anglo-French where in addition to conveying the expected sense of "one of the common people” also had the technical meaning “a member of the third estate of the estates-general".  In English it acquired the dual meaning as (1) of non-royal blood and (2), since the mid-fifteenth century “a member of the House of Commons.  Commonly the adverb is from circa 1300 and commonness the noun from the 1520s though it originally meant only "state or quality of being shared by more than one", the idea of something of "quality of being of ordinary occurrence" not noted until the 1590s.  The adjective uncommon assumed a similar development, in the 1540s meaning "not possessed in common" and by the 1610s meaning "not commonly occurring, unusual; rare".

Last thoughts on a non-rule

The distinction between mutual (reciprocal; between two) and common (among three or more) probably once was, at least to some extent, observed by educated writers, Dr Johnson (1709-1984) in his A Dictionary of the English Language (1755) allowing but one definition: MUTUAL a. Reciprocal; each acting in return or correspondence to the other.

G K Chesterton.

That old curmudgeon G K Chesterton (1874-1936) was certainly convinced.  Writing about Charles Dickens (1812–1870) novel Our Mutual Friend (1864-1865), he claimed the title was the source of the phrase in general speech, snobbily noting of it was the “old democratic and even uneducated Dickens who is writing here. The very title is illiterate. Any priggish pupil teacher could tell Dickens that there is no such phrase in English as 'our mutual friend'.  Anyone could tell Dickens that 'our mutual friend' means 'our reciprocal friend' and that 'our reciprocal friend' means nothing. If he had only had all the solemn advantages of academic learning (the absence of which in him was lamented by the Quarterly Review), he would have known better. He would have known that the correct phrase for a man known to two people is 'our common friend'."

The phrase in the English novel however pre-dated Dickens, Jane Austen (1775-1817) using it in both Emma (1816) and Persuasion (1818) and long before 1864, Mary Shelley (1797–1851), Sir Walter Scott (1771–1832), William Makepeace Thackeray (1811–1863), Herman Melville (1819–1891), James Fenimore Cooper (1789–1851) and Elizabeth Gaskell (1810–1865) all had “mutual friend” in their text.  Dickens, with the prominence afforded by the title and serialized in the press, doubtless popularized it and, as Chesterton well knew, literature anyway isn’t necessarily written in "common speech".  Whoever opened the floodgates, after 1864, mutual friends continued to flow, the writers George Orwell (1903-1950), Joseph Conrad (1857–1924), Jerome K Jerome (1859–1927), Rudyard Kipling (1865–1936), Mark Twain (1835-1910), Anthony Trollope (1815-1882), Henry James (1843–1916), Robert Louis Stevenson (1850–1894), Arthur Conan Doyle (1859–1930) and Church of England (broad faction) priest & historian Charles Kingsley (1819–1875) all content with "mutual friend" so those condemned by Chesterton are in good company.  The old snob probably did ponder if calling someone a “common friend” might create a misunderstanding but then, good with words, he’d probably avoid that by suggesting they were “rather common” or “a bit common" if that was what he wanted to convey, which not infrequently he often did.

Lindsay Lohan and her lawyer in court, Los Angeles, December 2011.

Tuesday, March 22, 2022

Mean

Mean (pronounced meen)

(1) To have or convey a particular idea; connote, denote, import, intend, signify.

(2) To have in mind as a goal or purpose; aim, contemplate, design, intend, plan, project, propose, purpose, target.

(3) Characterized by intense ill will or spite; black, despiteful, evil, hateful, malevolent, malicious, malign, malignant, nasty, poisonous, spiteful, venomous, vicious, wicked, bitchy.

(4) Having or proceeding from low moral standards; base, ignoble, low, low-down, sordid, squalid, vile.

(5) Ungenerously or pettily reluctant to spend money; cheap, close, close-fisted, costive, hard-fisted, miserly, niggard, niggardly, parsimonious, penny-pinching, penurious, petty, pinching, stingy, tight, tight-fisted.

(6) Of low or lower quality; common, inferior, low-grade, low-quality, mediocre, second-class, second-rate, shabby, substandard.

(7) Of little distinction; humble, lowly, simple.

(8) Lacking high station or birth, baseborn, common, declassed, humble, ignoble, lowly, plebeian, unwashed, vulgar; base.

(9) Affected or tending to be affected with minor health problems; ailing indisposed, low, off-color, rocky, sickly; under the weather (now rare).

(10) So objectionable as to deserve condemnation; abhorrent, abominable, antipathetic, contemptible, despicable, detestable, disgusting, filthy, foul, infamous, loathsome, lousy, low, nasty, nefarious, obnoxious, odious, repugnant, rotten, shabby, vile, wretched.

(11) Having or showing a bad temper, cantankerous, crabbed, cranky, cross, disagreeable, fretful, grouchy, grumpy, ill-tempered, irascible, irritable, nasty, peevish, petulant, querulous, snappish, snappy, surly, testy, ugly, waspish.

(12) In mathematics, something, as a type, number, quantity, or degree that represents a midpoint between extremes on a scale of valuation; average, median, medium, norm, par.

(13) In the plural (as means), that by which something is accomplished or some end achieved.

(14) In the plural (as means) all things, such as money, property or goods having economic value.

(15) In statistics, the expected value (the mathematical expectation).

(16) In music, the middle part of three-part polyphonic music; now specifically, the alto part in polyphonic music (or an alto instrument); now only of historic or academic interest.

As a verb:

Pre 900: From the Middle English mēnen (to intend; remember; lament; comfort), from the Old English mǣnan (to mean, signify; lament; intend to do something) from the Proto-West Germanic menjojanan & mainijan, from the Proto-Germanic mainijaną (to mean, think; lament), from the primitive Indo-European meyn- (to think), or alternatively perhaps from the primitive Indo-European meino- (opinion, intent) & meyno-, an extended form of the primitive Indo-European mey- (source also of Old Church Slavonic meniti (to think, have an opinion), the Old Irish mian (wish, desire) & the Welsh mwyn (enjoyment)).  It was related to the Old Saxon mēnian (to intend) and cognate with the West Frisian miene (to deem, think) the Old Frisian mēna (to signify), the Dutch menen (to believe, think, mean), the Middle Dutch menen (to think, intend), the German meinen (to think, mean, believe) and the Old Saxon mēnian.  The Indo-European cognates included the Old Irish mían (wish, desire) and the Polish mienić (to signify, believe).  It was related to the modern moan.  The present participle was meaning and the simple past and past participle was meant although the now obsolete meaned was once a standard spelling.

The transitive (to convey (a given sense); to signify, or indicate (an object or idea) or, of a word, symbol etc (to have reference to, to signify), was documented as early as the eighth century.  The transitive, usually in passive (to intend (something) for a given purpose or fate; to predestine was from the sixteenth century. The transitive (to have conviction in (something said or expressed) or to be sincere in (what one says) is from the eighteenth century.  The transitive (to cause or produce (a given result) or to bring about (a given result) is from the nineteenth century.  The synonyms included convey, signify & indicate.  The annoying (and frequently redundant) conversational question “You know what I mean?” is not recent, attested since 1834.

As an adjective:

Pre 900: From the Middle English mēne (shared by all, common, general), a variant of imene & imeane (held or shared in common), from the Old English mǣne & gemǣne (common, public, general, universal, mutual), from the Proto-West Germanic gamainī, from the Proto-Germanic gamainiz (common; possessed jointly) and related to the Proto-West Germanic & the Old High German gimeini (common, mean, nasty) and the Latin commūnis (common (originally with no pejorative sense (as in shared, general))) from the Old Latin comoinem and cognate with the Danish gemen, the West Frisian mien (general, universal), the Gothic gamains, (common, unclean), the Dutch gemeen (common, mean), the German gemein (common), the Gothic gamains (in common) and the primitive Indo-European mey- (to change, exchange, share).  The comparative was meaner and the superlative, meanest

The sense of “common or general” is long obsolete.  What endured was “common or low origin, grade, or quality; low in quality or degree; inferior; poor; shabby; without dignity of mind; destitute of honor; low-minded; spiritless; base; of little value or worth; worthy of little or no regard; contemptible; despicable.  The sense of parsimonious, ungenerous or stingy is known throughout the English-speaking world but tends to be less prevalent in the US because of the dominance of the other meaning.  The meaning “cruel or malicious has survived but is now less common.  The colloquial form meaning “accomplished with great skill; deft; well-executed is used also in the negative with the same effect: (1) She rolls a mean joint and (2) she’s no mean roller of a joint.  However, to say (3) she’s mean with the weed in her joints has the opposite meaning so in that context anyway, the meaning of mean needs carefully to be deconstructed.  This inverted sense of mean as "remarkably good" appears not to have existed prior to circa 1900.  The derived forms from the adjectival sense include (and some are less common than others) bemean, meandom, meanie, meanness, mean streak & meany.

The pejorative sense of "without dignity of mind, destitute of honor, low-minded" dates from the 1660s; the specific sense of "stingy, niggardly" noted since 1755 whereas the weaker sense of "disobliging, pettily offensive" didn’t emerge until 1839, originally as American English slang.  This evolution in meaning was influenced by the coincidence in form with mean in the sense of "middle, middling," which also was used in disparaging senses.

As a noun:

1300–1350: From the Middle English meene, mene & meine, from the Middle French meen & mean, a variant of meien, from the Old French moien & meien (from which French gained moyen), from the Latin mediānus (middle, in the middle; median (in context)) from the Latin medius (middle).It was cognate with mid, and in the musical sense, the cognate was the Italian mezzano.  A doublet of median and mizzen.

A specific meaning of mean (in the sense of middle) was “middling; intermediate; moderately good, tolerable” which is long obsolete.  The sense of “a method or course of action used to achieve some result”, now used almost exclusively in the plural, is from the fourteenth century.  The sense of something which is intermediate or in the middle; an intermediate value or range of values (a medium) is from the fourteenth century although the use of mean (in the singular) meaning “an intermediate step or intermediate steps” is obsolete.  Originally from the fifteenth century, the use in music is now of historical or academic interest.  It referred to the middle part of three-part polyphonic music; now specifically, the alto part in polyphonic music (or an alto instrument).  In statistics, since the fifteenth century, mean is simply understood as the average of a set of values, calculated by summing them together and dividing by the number of terms (the arithmetic mean).  In mathematics a mean can be (1) any function of multiple variables that satisfies certain properties and yields a number representative of its arguments, (2) the number so yielded (a measure of central tendency) or (3) either of the two numbers in the middle of a conventionally presented proportion.

In mathematics and statistics, the mean is what is informally called “the average”, the sum of a set of values divided by the number (count) of those values.  The median is the middle number in a set of values when those values are arranged from smallest to largest, while the mode of a set of values is the most frequently repeated value in the set.

Mean is one of those words which pepper English; one word, one spelling, one pronunciation, yet a dozen or more meanings.  Mean however doesn’t come close to the top ten words in English with the most meanings, the Oxford English Dictionary (OED) list is below but the editors caution by the time the next edition of the OED is released in 2037, for some there could be more meanings still; the influencing of computing has apparently already added several dozen to “run”.

Run: 645 definitions

Set: 430 definitions

Go: 368 definitions

Take: 343 definitions

Stand: 334 definitions

Get: 289 definitions

Turn: 288 definitions

Put: 268 definitions

Fall: 264 definitions

Strike: 250 definitions

Kimberley Kitching (1970–2022) was an Australian Labor Party (ALP) Senator for Victoria (2016-2022) who died from a heart attack in March 2022 at the age of 52.  Her death gained instant attention because in the days prior, two prominent sportsmen had also suffered heart attacks at the same age (one of them fatal) and there was the inevitable speculation about the possible involvement of the mysterious long-COVID or vaccinations.  No connection with either has yet been established.  One connection quickly made was with a triumvirate of female politicians, the ALP’s senate leadership group who were quickly dubbed “the mean girls”, a reference to 2004 Lindsay Lohan movie in which the eponymous girls were the “plastics” three self-obsessed school students whose lives were consumed by material superficialities and plotting & scheming against others.

The mean girls (2022), left to right: Penny Wong (b 1968; cabinet minister in the Rudd / Gillard /Rudd governments 2007-2013, senator for South Australia since 2002), Katy Gallagher (b 1970; chief minister of the Australian Capital Territory (ACT) 2011-2014, senator for the ACT 2015-2018 & since 2019) & Kristina Keneally (b 1968; premier of New South Wales 2009-2011, senator for New South Wales since February 2018).

The mean girls (2004), left to right: Karen Smith (Amanda Seyfried (b 1985)), Regina George (Rachel McAdams (b 1978) & Gretchen Wieners (Lacey Chabert (b 1982)).

Allegations the mean girls had bullied the late senator emerged just hours after her death and on social media there was little reluctance to link the events.  In a carefully-worded statement, Senators Gallagher, Keneally & Wong responded to what they described as “hurtful statements” denying they had bullied Senator Kitching and that other assertions were “similarly inaccurate” although they did concede “robust contests and interactions” were frequent in politics.  Senator Wong did admit to having made one unfortunate comment to Senator Kitching two years earlier and that, after it came to public attention, she had apologized.  Her office later expanded on this, issuing a statement saying “Senator Wong understood that apology was accepted.  The comments that have been reported do not reflect Senator Wong's views, as those who know her would understand, and she deeply regrets pain these reports have caused.”

In the thoughtful eulogy delivered at her funeral, Senator Kitching’s husband, Andrew Landeryou (b 1969; colorful ALP identity), referred on several occasions to the “unpleasantness” she had faced in the Senate, praising the moral courage his wife had displayed during her six years in the senate and her genuinely substantive contribution to public life, contrasting her with the “useful idiots, obedient nudniks and bland time-servers” so often seen sitting for decades on parliamentary benches.  The simple truth of it is that Kimberley’s political and moral judgment was vastly superior to the small number who opposed her internally” he said, adding that “… of course, there’s a lot I could say about the unpleasantness of a cantankerous cabal - not all of them in parliament - that was aimed at Kimba, and the intensity of it did baffle and hurt her.”  Perhaps generously, he added he “…did not blame any one person or any one meeting for her death”, thought to be a reference to a recent meeting of the ALP’s Right faction at which her pre-selection for an electable Senate spot at the next election was reportedly threatened. 

Senators Gallagher, Keneally & Wong all attended the funeral as did the leader of the ALP and opposition leader Anthony Albanese (b 1963; leader of the opposition since 2019 and variously a minister or deputy prime-minister in the Rudd / Gillard / Rudd governments 2007-2013).  Mr Albanese rejected calls for an inquiry into claims of bullying, saying he had received “no complaints at any time” from Senator Kitching regarding bullies within the party and sought to shut down any further questions on the matter, saying they were disrespectful to Senator Kitching.  In saying that he certainly caught the spirit of the moment, none of the mainstream media making anything but the most oblique of references to the late senator’s colorful and sometimes controversial history as an ALP factional player and trade union operative but quite how long lasts the convention of not speaking ill of the dead will soon be revealed.

Mr Albanese wanting to kill the story is understandable and if he’s sure he has plausible deniability of prior knowledge it’s a reasonable tactic but it’s at least possible the best thing to do might have been to admit (1) all political parties have factions, (2) inter-faction bullying is the way business is done, (3) intra-faction bullying is endemic, (4) women and men are both victims and perpetrators but women tend to suffer more, (5) ‘twas ever thus and (6) it shall forever be thus.

Mr Albanese had used the “I know nothing” defense before and that too attracted a popular-culture comparison.  In 2013, ALP politician Craig Thomson (b 1964; former trade union official, member of parliament for the division of Dobell (NSW) 2007-2013, for the Australian Labor Party (ALP) until 2012, as an independent thereafter) was facing accusations of fraud, committed while a trade union official including the use of a union-issued credit card to pay for the services of prostitutes.  His legal problems have since worsened including further charges of fraud and domestic violence.

In 2013, in the midst of the scandal, Mr Albanese, then deputy prime-minister, and Mr Thomson were photographed having a couple of beers at Sydney’s Bavarian Bier Café.  It attracted some attention, even from within the party, one ALP luminary thinking it strange an ALP deputy prime minister should meet for a drink with someone accused of fraud and who the party had expelled from membership, labeling the meeting as “completely indefensible."  It was of interest too to the Liberal Party opposition which floated the idea that what was discussed over a few beers was a deal in case the ALP needed Mr Thomson's vote in another hung parliament, one spokesman framing things as "Fake Kevin Rudd (Kevin Rudd. b 1957; prime minister of Australia 2007-2010 & 2013) says, on the one hand, we're cleaning things up and, on the other hand, he is doing secret deals to try and run a minority government now and into the future."

Like Mr Albanese, Mr Rudd claimed to know nothing about his deputy’s meeting with Mr Thomson or its purpose.  Asked to comment, Mr Rudd said it was not his business who his deputy decided to drink with, saying he did “many things in life but supervising the drinking activities of my ministerial colleagues is not one of them."  "And who they choose to sit down with" he added.  Later, detailed questions were sent to Mr Rudd’s office which declined to comment about whether Mr Rudd knew beforehand of the meeting or if he had asked what had been discussed.  A spokesman said Mr Rudd had “nothing further to add.”  Mr Thomson insisted it was an innocent drink after the two former party colleagues ran into each other and there was no discussion of any political deals or of Mr Thomson returning to the ALP. "I'm not wooable" Mr Thomson was quoted as saying adding, “It was a completely innocent beer.  There is no conspiracy theory here.”

Mr Albanese said Mr Thomson was not a close friend of his but added that he often ran into colleagues at bars and that it was just “…a personal chat, that's all. No big deal."  That didn’t impress the Liberal Party’s then leader in the Senate, Senator Eric Abetz (b 1958; senator for Tasmania since 1994, minister in various Coalition governments 2001-2015) who questioned how the pair could drink together given Mr Thomson's legal team was suing the LP, claiming the NSW ALP state secretary Sam Dastyari (b 1983; senator for NSW 2013-2018 before resigning in the midst of a Chinese-related donations scandal) had pledged to pay his legal costs.  "What is the deputy prime minister doing consorting in a Sydney bar with disgraced MP Craig Thomson at the Mr Thomson's lawyer is suing the NSW ALP?” Senator Abetz asked, presumably rhetorically.

Sydney Daily Telegraph, front page, Thursday 8 August 2013.

The Sydney tabloid The Daily Telegraph took the “I know nothing” excuses of Albanese and Rudd to their front page, the trope being the Hogan’s Heroes TV show produced by US network CBS between 1965-1971, one of the signature lines from which was “I know nothing” by Kommandant Colonel Clink’s slow-witted but affable Sergeant of the Guard, Hans Schultz.  Technically it worked but tropes and memes do rely on the material used registering in the public consciousness and that can be difficult when using a forty year old TV show no longer in widespread syndication.  For the Telegraph’s readers, mostly of an older demographic, it probably did register but some research might have been necessary for younger people, many of whom receive news only through social media feeds. 

For the same reason Donald Trump was disappointed his jibe about Pete Buttigieg (b 1982; contender for Democratic Party nomination for 2020 US presidential election, US secretary of transportation since 2021) and the absurdity of imagining Americans would vote for “Alfred E Neuman”, didn’t resonate.  It was just too long ago and too few knew about Mad magazine.  While there was quite a resemblance, and decades before it would have been a good line, in 2020 Buttigieg could dismiss it a “...must be a generational thing”.  By contrast, the mean girls line worked as well as it did because the film it references is both much more recent and, having hardly dated, retains an ongoing appeal.

Sunday, June 23, 2024

Murmuration

Murmuration (pronounced mur-muh-rey-shuhn)

(1) An act or instance of murmuring (now rare and mostly jocular).

(2) In ornithological use, the standard collective name for a flock of starlings although sometimes (controversially according to the ornithologists) extended to bees.

(3) In sociology and zoology, an emergent order in a multi-agent social system.

1350–1400: From the Middle English, from the Old French murmure (which endures in modern French) from the Medieval Latin murmurātiōn (stem of murmurātiō (murmuring, grumbling)), from the Latin murmur (humming, muttering, roaring, growling, rushing etc).  The wealth of words related to the onomatopoeic murmur includes rumble, buzz, hum, whisper, muttering, purr, undertone, babble, grumble, mutter, susurration, drone, whispering, humming, mumble, rumor, buzzing and susurrus (the last handy for poets).  The construct was murmur + -ation.  Murmuration is a noun and murmurating & murmurated are verbs; the noun plural is murmurations.

The verb murmur was from the late fourteenth century Middle English and was used in the sense of “make a low continuous noise; grumble, complain”, from the twelfth century Old French murmurer (to murmur, to grouse, to grumble) from murmur (rumbling noise), the transitive sense of “say indistinctly” dating from the 1530s.  As a noun meaning “an expression of (popular) discontent or complaint by grumbling”, the form emerged in the fourteenth century and was from the twelfth century Old French murmure (murmur, sound of human voices; trouble, argument), a noun of action from murmurer, from the Latin murmurare (to murmur, mutter) from murmur (a hum, muttering, rushing), probably from a primitive Indo-European reduplicative base mor-mor, of imitative origin (and the source also of the Sanskrit murmurah (crackling fire), the Greek mormyrein (to roar, boil) and the Lithuanian murmlenti (to murmur).  The meaning in describing sounds from the natural environment (a low sound continuously repeated (of bees, streams, the wind in the trees et al)) was in use by the mid-late 1300s while that of “softly spoken words” dates from the 1670.  The use in clinical medicine to describe “sound heard during auscultation” (the action of listening to sounds from the heart, lungs, or other organs, typically with a stethoscope) has been in the literature since 1824.  A “heart murmur” is an abnormal sound heard during a heartbeat (most often described as a “whooshing or swishing” are the result of turbulent blood flow within the heart or its surrounding vessels.  Such murmurations can be ominous if classified as “pathologic” (or abnormal) but those regarded as “innocent” (or benign) are common (especially in children) and often resolve without treatment.  A diagnosis of a pathologic murmur can indicate an underlying heart condition, the most common causes of which are congenital defects, valve abnormalities (such as stenosis or regurgitation) and infections.  The suffix -ation was from the Middle English -acioun & -acion, from the Old French acion & -ation, from the Latin -ātiō, an alternative form of -tiō (thus the eventual English form -tion).  It was appended to words to indicate (1) an action or process, (2) the result of an action or process or (3) a state or quality.

The New Yorker: Shouts & Murmurs

The New Yorker’s “Shouts & Murmurs” section is dedicated to humorous essays and satirical pieces; the topic range is wide (essentially unlimited) and the whimsical content can be discursive.  It’s reported by many as being the first section turned to when their copy arrives (The New Yorker’s print sales have held up better than most), the takes on everyday situations, cultural phenomena & current events handled in the magazine’s typical way.  In a (vague) sense, “Shouts & Murmurs” is The New Yorker’s “TikTok”: punchy, short form pieces that touch more on popular culture than most of the editorial content.  It’s called “Shouts & Murmurs” rather than “Shouts and Rumors” presumably because (1) it’s a “light & dark” sort of title and (2) The New Yorker really doesn’t do gossip (well it does but usually it’s well-glossed).  While a murmur is “a soft and even indistinct sound made by a person or a group of people speaking quietly or at a distance (ie the opposite of “a shout”)”, a rumor (rumour in British English) is “speculative information or a story passed from person to person but which is just hearsay”.

Birds, sociology & social credit

The adoption of murmuration as the collective noun for starlings is thought almost certainly derived from the sound made when very large numbers of starlings gather in flight, the behaviour most obvious at dusk.  The ornithologists did not approve of the apiarists borrowing the word to describe their bees, saying they’ve already co-opted bike, charm, erst, game, grist, hive, hum, nest, rabble (which seems misplaced given the efficient structure of their industrious societies) & swarm.  There are however no “rules” which govern all this and an alternative collective noun for starlings is a chattering, this applied also to chicks, choughs and goldfinches.

Murmurating eponymously: Tempting though it is to believe, ornithologists assure us that individually or collectively, birds almost certainly make no attempt to form specific shapes when murmurating and are unaware of what shape the formation has assumed.  Such is the variety of shapes achieved, if enough cameras are filming enough murmurations, just about any shape will emerge although, unlike the pareidolias people find in slices of toast, rock formations and such, a specific image summoned by a murmuration is fleetingly ephemeral.

The discipline of sociology relies sometimes on the methods of behavioralism developed in zoology and the term murmuration is co-opted to describe the coordinated, collective behavior of people, an allusion to the movements in unison of flocks of birds which appear both spontaneous and harmonious.  The concept has proved a useful analytical tool when dealing with phenomena where individuals in a group synchronize their actions or thoughts in a fluid and cohesive manner without any apparent centralized direction.  Sociologists tend to group the dynamics of murmuration into four categories:

(1) Self-Organization: The group organizes itself in a dynamic way, adapting to changes in the environment or within the group.

(2) Emergent Behavior: The collective movement or actions arise from the interactions among individuals, rather than from a single leader or directive.

(3) Non-verbal Coordination: Just as birds in a murmuration do not communicate verbally but through subtle cues and reactions, humans in a sociological murmuration often coordinate through indirect signals, such as body language, shared norms, or common awareness.

(4) Complex Patterns: The resulting behavior or movement of the group can form intricate and complex patterns, reflecting a high level of coordination and mutual (and ultimately common) adjustment among the participants.

The seemingly chaotic aerial choreography of starlings murmurating, Sassari, Sardina.  The music is a fragment from the aria Nessun dorma from Giacomo Puccini’s (1858–1924) last opera, the flawed Turandot (1926).

Sociologists were most interested in understanding how individuals within groups create complex social dynamics and outcomes through decentralized interaction but in the last decade, advances in the processing power of computers and the capability of artificial intelligence have enabled the mechanics of murmuration to deconstruct phenomena such as flash mobs, protests, crowds at events, or even online social movements where large numbers of people synchronize their actions through shared information and collective consciousness.  That has been helpful in developing predictive models of behaviour in situations such as evacuations from fire or terrorist incidents but the dystopian implications have been much discussed and, as some sinologists have observed, in the CCP’s (Chinese Communist Party) China’s mass public surveillance machine (integral to the generation of a citizen's "social credit" score), possibly to some extent realized.

Saturday, April 23, 2022

Broad

Broad (pronounced brawd)

(1) Of great breadth.

(2) A quasi-standard expression of lineal measurement (from side to side).

(3) Of great extent; large; extensive, ample, spacious, vast.

(4) Wide-open; full (applied usually to daylight).

(5) Not limited or narrow; of extensive range or scope (applied to knowledge, experience etc).

(6) Liberal; tolerant (semi-institutionalized as one of the three factions of the Anglican Church (Low, broad & high).

(7) A generalized summary of something (often as broad outline); general rather than specific.

(8) Something made plain or clear; outspoken.

(9) Indelicate; indecent, vulgar (now rare).

(10) Of conversation, rough; countrified, unrefined.

(11) Unconfined; unbridled; unrestrained.

(12) In linguistics, of pronunciation, strongly dialectal; the most exaggerated of its type; consisting of a large number of speech sounds characteristic of a particular geographical area or social class.  As applied to Gaelic languages: velarized (ie palatalized).

(13) In phonetics, of a transcription, using one basic symbol to represent each phoneme; of or relating to a type of pronunciation transcription in which symbols correspond approximately to phonemes without taking account of allophonic variations.

(14) In (mostly historic US & Canadian) slang, a usually disparaging term for a women, often one that hints at promiscuity (but not prostitution); often in the plural.

(15) In film & television production, an incandescent or fluorescent lamp used as a general source of light in a studio.

(16) A type of wide-bladed battle sword.

(17) A gold coin of England and Scotland, minted first in 1656 and issued by James I and Charles I; equal to 20 shillings.

(18) As broadband, a term now vague in meaning which implies a high-speed internet connection but which has been applied to any service rated faster than the highest speed possible using a single analogue modem connected with a conventional phone line (copper pair (Cat3)).

(19) In public finance, as broad money, denoting an assessment of liquidity including notes and coins in circulation, bank holdings, most private-sector bank deposits, and certain bank-deposit certificates; usually classed as M3 in the (sort of) standardized system by which OECD countries measure the money supply.

(20) In UK dialectal use, a river spreading over a lowland (in East Anglia, a shallow lake).

(21) In woodworking, a wood-turning tool used for shaping the insides and bottoms of cylinders.

(22) In the UK, a common pronunciation of B-road (a secondary road).

Pre 1000: From the Middle English brood, brode, brod & broad from the Old English brād (broad, flat, open, extended, spacious, wide, ample, copious; not narrow), from the Proto-Germanic braidi, from the Proto-West Germanic braid, from the Proto-Germanic braidaz (broad), of uncertain origin.  It was cognate with the Scots braid (broad), the West Frisian breed (broad), the Saterland Frisian breed (broad), the Low German breet & breed (broad), the Dutch breed (broad), the German & Old High German breit (broad, wide), the Danish, Swedish & Norwegian Bokmål bred (broad), the Norwegian brei (broad), the Icelandic breiður (broad, wide), the Old Norse breiðr (breithr), the Old Frisian brēd and the Gothic braiths & brouþs.  The word is not found except in Germanic languages and there has never been any clear distinction between broad & wide although there are conventions of use but they vary widely (and presumably in some places broadly) by geographical region.  Related and sometimes synonymous words include deep, expansive, full, large, vast, comprehensive, extensive, far-reaching, sweeping, universal, wide, wide-ranging, clear, explicit, straightforward, radical, improper, indecent & roomy.  Broad is a noun & adjective, broadly is an adverb; broadness is a noun, broaden is a verb, broadening is a noun & verb and broadest & broadish are adjectives; the noun plural is broads.    

Circa 1300, broad also had the specific meaning "breadth", now obsolete, which was from broad the adjective.  The sense of "shallow, reedy lake formed by the expansion of a river over a flat surface" was a Norfolk dialect word from the 1650s and broad had assumed its (broad) meaning as "the broad (wide) part" of anything by 1741.  The broad-brim hat was first described in the 1680s and the phrase “broad-brimmed” or “broad-brimmer” was eighteenth & nineteenth slang for a "Quaker male", so described because of their characteristic attire.  Broad-minded (in the sense of open-minded, liberal, less judgmental) was from the 1590s but this abstract mental sense of broad existed also in Old English as bradnes which meant both "breadth" & "liberality".

German broadsword, Waloon pattern, circa 1650.

Some swordsmiths insist the only true broadsword is one of the “basket-hilted swords”, characterized by a basket-shaped guard at the hilt which protects the hand, an elaboration of the quillons added to swords' cross-guards since the later Middle Ages.  What everybody else now calls the broadsword is a bladed weapon of the early modern era (sixteenth-seventeenth century), the construct in Old English being brad + swurd and, exclusively a battlefield weapon, they were always distinguished from rapiers and other dueling swords by their wide and often long & thick blades.

The term broadsheet was first used to describe a newspaper in 1705 when the distinguishing characteristic was being a “large sheet of paper printed on one side only”; by 1831 the usual phrase was “"a broadsheet newspaper" which in the twentieth century evolved into a distinction between the sober publications of record, reflection and reporting (The Times of London, The New York Times, The Manchester Guardian etc) and the popular tabloid press concerned with entertainment, sport and (increasingly) celebrity culture (the News of the World, The Sun, the New York News etc), based on the former being printed in larger formats, the latter half-sized (tabloid in printer’s jargon.  Even when some broadsheets switched to the smaller format, the phraseology remained and seemed to have survived even where some have abandoned print editions entirely, tabloid journalism still something simultaneously popular and disreputable.

Lindsay Lohan on Broadway, attending the production MJ The Musical, New York, July 2022.

Broadway (like High Street or Main Road) became a common street name apparently as early as circa 1300, applied obviously to particularly wide roads or streets, the allusive use for "New York’s theater district" dating from 1881.  The derivative “off broadway” (sometime with initial capitals) described smaller theatres in the New York City area, those with fewer than 300 seats, or a production in such a theater, usually away from the "Broadway" theater district and which operated under special rules from the theatrical unions which permitted productions to be mounted at much lower cost.  Use of off-broadway was first noted in 1953 as the volume of productions began greatly to expand in the buoyant post war economy and off-off & off-off-off (etc) broadway followed, the number of “offs” hinting progressively at the diminishing size of the budget, theatre and reputations of those associated with the production.

Broadcasting in the modern understanding of the word attained critical mass first in the 1920s as medium-wave AM radio became popular as the cost of vacuum tube radio transmitters and receivers fell to affordable levels.  Broadcasting was based on the idea in agriculture of broad-sowing, the casting of seeds over a broad area and was electronic communication on a one-to-many basis, as opposed to earlier radio, telephone, and telegraph models which were one/few to one/few.  Although the technology and the distribution platforms have since much evolved, broadcasting remains conceptually the same but the technological changes have greatly affected the behavior of audiences and much of what “broadcasters” now do is really stranded narrowcasting, the content designed not for the large-scale, even nation-wide catchments which once were available but aimed instead at specific demographics also served by the narrowcasters proper.  So changed is the environment that the terms are now less useful than when there were clear distinctions between them.

Dean Martin (1917-1995) and Frank Sinatra (1915-1998) carry "strike" signs demanding "Free Broads" as part of a gag during a show at the Sands' Copa Room, Las Vegas, 1960.

Although the "rat pack" persona was cultivated as something edgy and anti-establishment, their audience was politically conservative and, by the 1960s, part of an older generation which mostly didn't approve of young people marching with protest signs.  For a couple of old pros playing Las Vegas, this was an easy laugh and, by the standards of the time, self-deprecating.

The apparently etymologically baffling use of broad to describe a woman with some suggestion of promiscuity has attracted speculation.  It’s been suggested it might be an alteration of bride, especially through influence of the cognate German Braut, which was used in a similar sense (young woman, hussy) and there was the Middle High German brūt (concubine) but, especially given it came to be noted as a generalized slang term for women only circa 1911 in US use, etymologists prefer to link the development to the earlier slang “abroadwife”, used to mean both “woman who lives or travels without her husband" and “woman maintained in another place by a man and unknown to his wife”.  It’s now a dated form, used sometimes ironically but has often been misapplied with a suggestion of prostitution.  Because of these negative associations, and the increasing popularity of women's athletics, the name of the track and field “broad jump” (dating from 1863) was changed to “long jump”, beginning in the US in 1967 and soon adopted by athletics federations worldwide.

Some broadband is more broad than others: Indicative speed (January 2022) of internet connections in selected countries based on Ookla’s speedtest.net data, the informal standard for consumer-level speed testing.

The noun broadband actually dates from the 1620s in various senses from dressmaking to engineering.  It was used in electronics from 1956 with the meaning "a band having a wide range of frequencies" but the now most familiar use is as a descriptor of high-speed internet access.  Although the term broadband had since the 1970s been used in the technical language of the then embryonic industry of networking and distributed communications, it was little known by the public until the first standards were published for Asymmetric Digital Subscriber Line (ADSL), a consumer-level version of digital subscriber line (DSL) technology.  Ever since, it’s been used in the sense of “high-speed internet” but except for some local (and usually quickly outdated) legislated definitions, it’s never had a universal or even generally accepted meaning beyond the very early implementations when it was understood to imply a connection faster than the fastest service attainable by a single (8000/8000 baud; V.92; 56.0/48.0 kbit/s down/up) analogue modem connected with a conventional phone line (untwisted copper pair (UTP-Cat3)) which was usually accepted to be 56 kbit/s.  That soon was not a great deal of help and now, unless in a jurisdiction where use of the term broadband requires the maintenance of minimum up & download speeds, it’s really just an advertising term and unless a service so advertised turns out to be so slow that the use might be held to be deceptive or misleading, is often little more than “mere puffery”.  Hotels which in the 1990s and early 2000s spent a lot of money to install the hardware and software to support what was then “broadband” which they advertised as such soon, faced complaints as rapid advances in technology rendered their infrastructure quickly obsolescent and slow, the only solution sometimes to replace all the equipment although many instead took advantage of the profit-sharing industry which emerged, third-parties handling the installation and support, the hotel taking just a commission on total revenue.  Just as a precaution, some gave up on advertising “broadband” and instead offered the even more vague “hi-speed” which definitely meant nothing in particular.     

Contemporary art museum The Broad, Grand Avenue, Los Angeles.  The building's name is a reference not to the architecture but the philanthropists Eli (1933-2021) & Edythe (b 1936) Broad, who paid for it and provided the core of the collections exhibited.  It opened in September 2015, the architecture generally well-received.

Broadcloth (also as broad-cloth) was a "fine woolen cloth used in making men's garments" and dates from the early fifteenth century, the name derived from its width (usually 60 inches (1.5m)).  The phrase “broad daylight” emerged in the late fourteenth century and broad was first applied to speech and accents during the 1530s. To be “broad in the beam” is to be overweight, the term, predictably, applied almost exclusively to women.  To have “broad shoulders” suggests an ability to take criticism, or accept responsibility, an allusion to the figure of Atlas from Greek mythology who was condemned to forever carry on his shoulders the weight of the world.  In admiralty jargon, “broad on the beam” is a nautical bearing 90° to the heading of a vessel while “broad on the bow” is a bearing 45° to the heading of a vessel.  Broadacre farming or agriculture is a generalized reference to activities undertaken on large-scale open areas as opposed to smaller, fenced enclosures and can be used to describe either cropping or animal production.  The expression, like “mileage” or “tons” has survived metrification; “broadhectare” does exist as jargon in the field of residential land supply but is not widely used.

The Anglicans

Some time ago, the ever-entertaining Anglican Church, sort of formalized their three warring factions as the low and lazy, the broad and hazy and the high and crazy:

The Low and Lazy

Like the high churchers, the low lot still believe in God but, their time not absorbed plotting and scheming or running campaigns to stamp out gay clergy and opposing the ordination of women, they actually have time to pray, which they do, often.  The evangelical types come from among the low and don’t approve of fancy rituals, Romish ways or anything smelling of popery.  Instead, they like services where there’s clapping, dancing and what sounds like country & western music with sermons telling them it’s Godly to buy things like big TVs and surf-skis.

The Broad and Hazy

The broad church is more a club than a church, something like the Tory Party at prayer.  The parishioners will choose the church they (occasionally) attend on the same basis as their golf club, driving miles if need be to find a congregation acceptably free of racial and cultural DEI (diversity, equity and inclusion).  They’re interested not at all in theology or anything too abstract so sermons are preached to please the bourgeoisie.  The broad church stands for most things in general and nothing in particular, finding most disputes in Anglicanism baffling; they just can't see what all the fuss is about.

The High and Crazy

The high church has clergy who love dressing up like The Spice Girls, burning incense and chanting the medieval liturgy in Latin.  They disapprove of about everything that’s happened since the 1662 edition of the Book of Common Prayer and believe there’d be less sin were there still burnings at the stake.  Most high church clergy wish Pope Pius IX was still running the show from Rome and some act as though he’s still there.

Of money

All will be pleased to know there is narrow money and broad money.  Narrow money includes notes and coins in circulation and bank deposits (if available to conduct transactions).  Broad money includes all narrow money and other liquid assets that can be used to buy goods and services.  Collectively, the money circulating in an economy is called money supply, movements in which are tracked and sometimes manipulated governments and central banks.  There are economists who insist the distinction between narrow and broad money is mainly theoretical and they have a point in that the relationship between national wealth and (1) physical notes and coins and (2) the notion of asset backing (such as a gold standard) are both now somewhat abstract and the money supply can now be expanded without the effects of the physical economy which would once have been inevitable but the measures are still of great interest, as is the strange fact that the actual definitions of money used by governments and central banks in major trading economies vary from country to country.

The United States

The US Federal Reserve provides only two main measures of money M1 (narrow) and M2 (broad).  M1 consists of currency in circulation, travelers’ checks of nonbank issuers, demand deposits, and other checkable deposits (eg negotiable order of withdrawal accounts at depository institutions).  M2 is M1 plus savings deposits and money market deposit accounts, time deposit accounts below $100,000, and balances in retail money market mutual funds.  The interesting thing about the US is that the Fed’s M1 & M2 excludes a lot of what most economists regards as money but it’s very difficult to estimate how much, all agreeing only that it’s big number.

The Euro Zone

The European Central Bank (ECB) publishes M1, M2 & M3, each measure becoming progressively broader.  M1 includes currency in circulation plus overnight deposits.  M2 is M1 plus deposits redeemable at notice of up to three months and deposits with an agreed maturity of up to two years.  M3 is M2 plus repurchase agreements, money market fund shares, money market paper, and debt securities issued with a maturity of fewer than two years.

The United Kingdom

The Bank of England uses four measures of money, M0, M2, M4, and M3H, M0 the narrowest, M4 the broadest.  M0 is currency in circulation plus bankers’ deposits held by the Bank of England.  M2 is M0 plus deposits held in retail banks.  M4 is M2 plus certificates of deposits, and wholesale bank and building society deposits.  The mysterious M3H is a parity device which exists to allow the Bank of England to align their reporting for statistical purposes with the money supply measures published by the ECB and this is M4 plus foreign currency deposits in banks and building societies.

Australia

The Reserve Bank of Australia used to use M1, M2 & M3 but now publishes M1, M3 & Broad Money.  M1 is currency in circulation plus bank current deposits from private non-bank entities.  M3 is M1 plus other deposits from building societies and credit unions with banks.  Broad Money is M3 plus borrowings from the private sector by non-bank depository corporations excluding holdings of currency and deposits of non-bank depository corporations.

Japan

The Bank of Japan is a monetary classicist and publishes M1, M2, and M3, where M1 is the narrowest and M3 the broadest.  M1 includes currency in circulation plus deposits.  M2 is M1, plus certificates of deposit.  M3 is M2 plus savings and deposits at financial institutions and post offices.

For countries which run modern economies with convertible currencies and a high degree of interoperability and (usually), little (at least by historic standards) in the way of exchange controls, it may seem strange that the definitions of money vary to the extent they do, the only feature of commonality really that each maintains a measurable concept of narrow and broad money.  Only a few central banks, such as the Bank of England, include a device with which those interested in such things can align the numbers more accurately to compare one with another; it’s almost as if the central banks and governments like some vagueness in the system.

There is no direct relationship between the volume of the money supply and its value expressed as purchasing power.  German children during the hyper-inflation experienced in the Weimar Republic in 1923 would play with literally trillions, using bundles of currency with a face value in the billions (of the then current Papiermark) as toy building blocks.  Although the purposes for which it was originally set up have long been overtaken by events, the Bank for International Settlements (BIS) still exists (which is interesting in itself) and although the BIS organizes interesting conferences and seminars and publish a wealth of meaty material, it’d be an interesting task for them to devise a standardized money supply model which could augment (ie not replace) the machinery to which the central banks would no doubt cling.  Even if restricted to members of the Organization of Economic Cooperation and Development (OECD), it would be an interesting data-set to align with other charts but the chances of this seem remote.  It might frighten the horses.