Occupational Hazards

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The Collaborators, the dark, engrossing, and occasionally brilliant new book by the Dutch writer Ian Buruma is not about collaboration—at least not in the way it’s implied in the book’s subtitle. Not really. To be sure, a good portion of its narrative unfolds in countries or territories under foreign occupation during the Second World War (or its Asian preamble), societies reset where new rules had, as well as new rulers, replaced the old, creating undeserved opportunities for, or forcing unwanted choices on, those who lived in them. Buruma draws up a taxonomy of the types of collaborator and touches on the reasons they behaved in the way they did. Some were on the make, others were ideologues, still others told themselves they were the lesser evil, and the list goes on….

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ESG, Wokeness, and Morality

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Increasing criticism of ESG (an often incoherent investment “discipline” under which actual or portfolio companies are scored in part by how they score against various environmental, social, and governance measures) and the pushback against it in certain (red) states are worrying those in the ESG ecosystem who have done so well politically and economically (or both) out of it. Newspapers such as the Financial Times complain about elected politicians meddling in topics such as ESG, even though ESG is nothing if not political. Billionaires such as Mike Bloomberg and Tom Steyer have issued warnings that those who oppose ESG just don’t understand capitalism, as has (more or less) Al Gore, climate change “prophet” and profiteer.

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How Poland Sees the Ukraine War

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Poland is, as it was in 1920, on the West’s front line, even if this time the conflict — cyberattacks apart — is across its border and it has NATO at its side. Back then, Western assistance consisted mainly of some French matériel, a large detachment of French officers, and a smaller collection of Brits. Led by Józef Piłsudski, the father of a reborn Poland, Polish forces launched a counter-attack against the Bolshevik army that was nearing Warsaw. The result, named after the river running through the city, was the “Miracle on the Vistula.” The invaders were routed, Poland was saved, and the Red Army was stopped from spreading Lenin’s revolution to a dangerously fissile Germany.

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The EU's China Conundrum

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America’s support for Ukraine has removed any remaining doubts that the Cold War’s two leading adversaries are embarked on a new version of that contest. And Beijing is now in a very different position. After China’s break with the USSR in the early 1960s, the relationship between Moscow, Washington, and Beijing evolved into an intricate triangular dance in which the distance between the three vertices was always shifting.

Forty years on, the nature of that dance has changed, and not to America’s advantage. Thanks to its growing economic, technological, and military power, China has now emerged as America’s most formidable challenger…

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ESG: Warren Buffett Scrambles the Narrative

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With the pushback against ESG (an investment “discipline” under which actual or prospective portfolio companies are measured against various environmental, social, and governance benchmarks) gathering momentum, its proponents have finally had to mount a credible defense of a once seemingly irresistible concept that, up to now, has had no need of one.

That’s not proving easy…

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On Maneuvers

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Ernst Jünger (1895–1998), the German writer, war hero, man of the Right, and sphinx, claimed that On the Marble Cliffs (Auf den Marmorklippen, 1939) came to him in a dream.1 It may have. Jünger was a devotee and a hoarder of dreams, and this story reads as if it were one of them. Now available in a new, and significantly improved, translation for New York Review Books Classics by Tess Lewis, the book is a tale of mounting horror, in which its two principal protagonists (the unnamed narrator and his brother, Otho, are proxies for Jünger and his younger brother, Friedrich Georg) are participants and yet, in a sense, spectators, as in a dream: “While evil spread across the land like fungus on a rotten log, we delved ever deeper into the mystery of flowers.”…

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"The Windsors at War" tells the rest of Edward VIII’s story

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Alexander Larman’s The Crown in Crisis ended with the former Edward VIII, “now exiled to Europe, traveling away in the night.” In his engrossing The Windsors at War, Larman relates what happened next. In some respects, the tale he tells can be read as a pitch-black comedy, something signaled by the dramatis personae that begins it. A “disgraced Yugoslavian prince” makes it into “Society — high” joining, among other grandees, a millionaire murder victim, and no fewer than three “playboys,” one of whom was the millionaire’s suspected murderer. A “would-be royal assassin” fares less well, banished to “Society— low,” along with the likes of a journalist (naturally) and an American engineer “unimpressed by the Duke and Duchess of Windsor.”…

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Lessons from Nigel Lawson

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April 3 saw the death of one of the last Thatcherite greats, Nigel Lawson. He was ninety-one. Serving as Margaret Thatcher’s chancellor of the exchequer (finance minister) between 1983 and 1989, Lawson played a vital part in creating a British economic revival so strong that it took the combined efforts of both the Conservative and the Labour parties decades to destroy it…

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Climate policy’s latest threat to property rights

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Say what you will about Jamie Dimon, the chairman and CEO of JPMorgan Chase, but when it comes to property rights, he is pretty consistent. He was chairman of the Business Roundtable when, in 2019, in a statement co-signed by a large number of CEOs, it jettisoned its support for shareholder primacy — the idea that the principal purpose of a corporation is to generate return for its shareholders. That was old hat. Now corporations should “deliver value” to all their stakeholders, of which shareholders are only one class.

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Shipwrecks, amputations and polar-bear attacks: the doomed voyage of the Karluk

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The heroic age of polar exploration gave birth to epics as grand and as harsh as the landscapes in which they unfolded. And, as in all the best epics, their protagonists are often of interest not only for what they do, but also for who they are, or, in the case of the Arctic adventurer — “explorer” is too confining a word — Vilhjalmur Stefansson (1879-1962), who they pretend to be…

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