Commentary Logo
Japan Island disputes in SE Asia    World War III Alarm Anti-Islam video and anti-US sentiment    Skull Say no to brainwashing

       peace and anti-war Israel Iran strike imminent    sanctions as a result of nuclear tests Sanctions on Iran and workarounds    black lightning bolt India's massive blackout

Snapshots of news
Gearheads and mastheads
SHORTCUT TO MAIN SECTIONS & ARTICLES
Home  •  About this site  •  How did we once fight corruption in colonial Hong Kong?
 •  Historical US administrative thoughts  •  USA versus colonial Hong Kong
 •  Anti-corruption review of Nigeria  •  Procurement monitoring in Nigeria
 •  Syndicated news  •  Usman's blog  •  Anti-graft news  •  Socialist news

 Monday, July 23 2018 2:20am Hongkong Time

SKIP TO     Page 1 | Page 2 | Page 3 | Page 4 | Page 5 | Page 6 | References

So markets work, really?

Having discussed the author's some of the very special choices of key terms, let's now turn to the use of tense in the article. Knowing that the present simple tense unsurprisingly dominates the entire text (to help illustrate issues that are current, are facts, and are still true etc.), it would be remarkably interesting to note how the Buttonwood article got started with the statement "MARKETS work" (when we now know that the writer probably does not believe in it). In fact, the simple present tense here might have work the unusual way. But could there be such a way? Maybe. The article here has probably twisted the present simple to refer to a very limited scenario, and no longer an always-true event or permanent state. Rather than presenting it as a general fact or truth (i.e. the market concept always works), the simple tense now becomes a mark for an exception (i.e. You think markets work? I'll show you when it doesn't...). OK, I know I might have gone too far on this but let us presume we could exemplify such an idea with the following example:

E.g. We all know the sun rises from the east – at least for all planets in the Solar system, but not Venus. So, on Venus, we would say, the sun rises from the west – which is an exception [4]. In other words, the statement, "MARKET works", now becomes some kind of a sarcastic remark.

Cosmos 64 (c) P.I.E. Image Compendium
Photo © P.I.E. Image Compendium

The present simple in the opening statement (i.e. in "MARKETS work") may therefore be understood as a marked use [4a] of the present simple to signify exception, and not a case in general. The proof of this can be found just two lines down the text when the author wrote, "Friedrich Hayek argued that markets were..." Here the simple past tense is used instead of the present. If the author had believed in the validity of the free market concept, he, as Green (2009, p. 76) suggests, would have used the present simple to make the two points relevant in the present time. The author also continued by relating Hayek's argument on free markets to "the wisdom of crowds, if you like" – hence further looking down on the point. While some might say that the author was just trying to be cynical by making obvious errors (Abdollahzadeh, in press), I would say that he could simply have used the wrong tense right from the beginning.

Regardless of whether the author was trying to be cynical or not, he did made use of the present simple to put forward a few rather convincing "facts" for the readers. For instance, he explained as an argument why "financial assets appeal" by contrasting the demand for financial assets (which "generally increases with the asset prices") with the demand for TV sets (which "falls when the price of a television set goes up") – all with the present simple. He also spelled out the contrasting concepts as to how "when the prices of goods are rising, manufacturers make more" and how "the creation of new shares dilutes the wealth of existing investors" – all in the present again. This time, the author was clearly neither sarcastic nor cynical. But what the author clearly did wrong was to confuse the underlying factors and compare what should not be logically compared – the two kinds of demand. The demand for TV set depends on its selling price whereas the demand for financial assets depend on the assets' expected return, risk and liquidity, and not price [5]. The author obviously compared apples to oranges when he should have looked further into the genes (of the two fruits) in order to make the comparison scientific, meaningful and reasonable. While the author almost seemed to have made great use of the intrinsic properties of the simple tense to bring about "factual examples" as arguments, he actually abused the factual power of the present simple by conveying "facts" that are otherwise not exactly true. To this end, not only the choice of the tense is problematic but the basic logic of the text is also twisted and flawed as well.

SKIP TO     Page 1 | Page 2 | Page 3 | Page 4 | Page 5 | Page 6 | References



Note 4: Venus rotates retrograde (from east to west) and the sun thus appears on Venus to rise from the west and sets in the east, see http://www.oglethorpe.edu/faculty/~m_rulison/Astronomy/Chap%2009/chapter_9_lecture_notes.htm

Note 4a: If a word or a phrase is used in a special way to denote a meaning other than the usual one, it is called the "marked use" of it.

Note 5: Higher asset prices generally mean lower yield, hence diminishes demand.




Commentary and reflection pages by Raymond Cheng, PhD DPA FRSA

  Main • Commentary   Special Foci • Syndicated News | Corruption | Socialism | GuanXi

  Health Related • Traditional Chinese Medicine   Others • OXLL


© 1997-2018 The Commentary by Office of Dr Raymond Cheng. All rights reserved. Copyright of selected news articles, the headlines and logos belongs to the respective entities. Read disclaimer

Digital platform powered by Wyith Limited, Wyith Institute. Wyith Limited and Wyith Institute are associated businesses operated by the Office of Dr Raymond Cheng • Dr Raymond Cheng & Partners Ltd and The Commentary Ltd.

SHORTCUT TO MAIN SECTIONS & ARTICLES
Home  •  About this site  •  How did we once fight corruption in colonial Hong Kong?
 •  Historical US administrative thoughts  •  USA versus colonial Hong Kong
 •  Anti-corruption review of Nigeria  •  Procurement monitoring in Nigeria
 •  Syndicated news  •  Usman's blog  •  Anti-graft news  •  Socialist news

Contact the editor at raymond {dot} cheng {at} kellogg {dot} oxon {dot} org

RESERVED SECTION FOR MEMBERS
The RendezvousBuildersCommentatorsContributorsReadersResearchers
Reflection Pages • Miscellaneous Stuff
The difference between instant evaluation and improving recognition – November 20
Freddy Krueger revisited: Politically correct education? – October 23
From the evaluator's perspective: Justified conclusions and decisions – October 8
Online and distance learning degrees – evaluator's perspective – September 25
The moment fake degrees turned recognized and appraised – September 9

Photo credits for top title bar, from left to right: Iza H (Work), Lukasz Gumowski (Blue balls), Marcin Bania (Smiling and naked), Lautaro Gonda (Milan station), Jan Abt (Girl taking a picture), Daniel Tang (Hot switch), Barbara Henry (Moriah reading), Ralf Herrmann (Checkmate II), Marko Roeper (Led #4), Ian Russell (Girl in downtown LA).
Note: Animated GIF graphics and clipart obtained from amazing-animations.com, gifs.net, findicons.com, clker.com and sevenoaksart.co.uk. Sketches, cartoons and other handdrawings courtesy of Alice-the-Artist.

Special Alert! This is *NOT* the American Jewish Committee's Commentary Magazine! Special notice! This is not the American Jewish Committee's Commentary Magazine nor are we in any way affiliated with them. To visit AJC's magazine, please go to commentarymagazine.com instead, thank you for your attention.
Memo with pin Technical memos for members
Receiving using Gmail | Sending using Gmail
0x800ccc0e | 0x800ccc19 | 0x800ccc79

This site is best viewed with Microsoft® Internet Explorer 6.0 or above, minimum 1024x768 16M color-depth resolution. The Commentary Group and its personnel do not endorse external sites and are not responsible for the content of these websites. All external sites will open in a new browser window.




 
COUNT ON THE STATISTICS  100% Towels (c) Daniel Chittka
Photo © Daniel Chittka

This new section contains some interesting statistics in bribe and corruption, please check back for more as we pile up our numbers!

It's statistics time!  Using n-gram: kickback, graft, bribe and corruption - Comparison of their historical occurrences from 1810 to 2009 A.D.

  The word guanxi (collocation) and meanings of bribe: Deeply rooted, disgusting, sad endings

LATEST STUFF TO PONDER UPON
Looking for a good book (c) Doug Logan
Photo © Doug Logan
tagged by area of interestBY AREA OF INTEREST
Trends
Pragmatics: Politeness trends from the historical perspective of global trade
Computer mediated communications: Social network – Came riding the waves of amazing coincidences
Analysis
Language acquisition:
A critique on "A corpus driven study of the potential for vocabulary learning through watching movies"

Grammatical analysis: "When a linguist stumbled upon a Buttonwood"
Lexicon and the corpus: "John Sinclair's lexical items – an introduction"
tagged by regionBY REGION • Anything AsiaUS Presence in Asia
ChinaTaiwanHong Kong and MacauJapanKoreaSingaporeMalaysiaPhilippinesPakistanIndiaAfghanistanVietnam, Laos, Cambodia, Thailand and MyanmarTimor-Leste and IndonesiaMongoliaNew Zealand and Australia
tagged by topicsBY TOPIC • BiofuelRhino and elephant poachingAmerican movies hit China marketChina Internet censorshipChina's outward FDI opportunitiesGlobal rice yield
ISLAND DISPUTES – FROM A DISTANCE
Island disputes in Southeast Asia | Senkakus-Diaoyu and historical findings | Dokdo-Takeshima | Spratly, Paracel, Scarborough | Kurils

For those you who don't have time to read all our news excerpts about the Asian island disputes (links above), you may find the following video, "The economic impact of a war between Japan and China", very enlightening.



© Minute MBA: More from onlinemba.com

Free Pussy Riot!
Free Pussy Riot!

Photo © Igor Mukhin, retrieved from Wikipedia

"This trial is another example of the Kremlin's attempts to discourage and delegitimize dissent. It is likely to backfire." John Dalhuisen, Director of Amnesty International's Europe and Central Asia Programme

 More from Amnesty InternationalFree Pussy Riot



How it started – Pussy Riot Prayers, February 2012

PUSSY RIOT CHRONOLOGY 2012
08/17 Pussy Riot imprisoned on hooliganism charges
08/17 The only professionals in sight
08/19 Pussy Riot protesters arrested in Marseille
08/20 NZ PM – Sentence 'disproportionate'
08/20 Pussy Riot fear their kids being put in care
08/22 German supporters face criminal charges
08/22 Pussy Riot – it's carefully calibrated
08/23 Russian church-state corruption unveiled
08/23 Putin's secret weapon: The Orthodox faithful
08/24 Putin-nominated watchdog slams convictions
08/31 'Pussy Riot ritual killing', man detained
09/03 Orthodox deacon speaks over verdict
09/06 Putin denies part in 'Pussy Riot case'
09/10 Pussy Riot benefit concert draws 1,000
09/10 Gorbachev says verdict "disproportionate"
09/19 Punk group to transfer to remote penal colony
09/21 Aung San calls on Moscow to release RP
10/01 Sentence appeal delayed until Oct 10
10/10 Katya freed, 2 years for Nadya and Masha
10/16 Masha and Nadya sent to remote labor prison



BBC • Pussy Riot women begin life in prison

11/16 Merkel challanges Putin on imprisonment
11/22 Maria Alekhina transferred to solitary cell
11/28 Tolokonnikova's appeal case goes to court
12/24 Extremist videos appeal adjourned

PUSSY RIOT CHRONOLOGY 2013
01/15 Masha's sentence deferment denied
02/01 PR civil claim granted right to appeal
02/07 Pussy Riot files complaint with ECHR
03/06 Ombudsman asks court to overturn verdict
03/08 Protesters detained in Moscow
04/13 PR gets reprimand: parole problematic
04/21 PR defense seeks abolition of conviction
07/26 Parole denied, PR remains defiant



The Knife supporting PR at Pukkelpop

08/17 Against verdict on PR – Day of Solidarity
08/23 PR seeks mitigation of remaining sentence
GLUCK ON SOCIALISM AND CHINA Asia (c) Robert Churchill
Photo © Robert Churchill

Professor Sidney Gluck (c) Sandi BachomI am honored to have obtained Professor Sidney Gluck's (right) permission to allow me to repost here some of his work and interview related to China and socialism. Professor Gluck is professor emertius at the New School University in New York. A classical Marxist, Gluck has been studying China for 60 years in history and modern development. He has lectured all over the U.S. and still welcomes engagement at the age of 94 – photo © Sandi Bachom

FEATURED ARTICLES

TECHNOLOGY BLOG BY USMAN KHURSHID
Usman Khurshid on Mike McCune's HD Monitor with Paths Technize.net logo with Maartje van Caspel's Public Space
I am proud to announce that the Commentary.com website is now carrying the technology updates from Usman Khurshid's Technize.net. Usman is a network consultant and works in a mixed environment of Windows and Linux platforms. He likes to study about the latest advancements in computer technology and shares his views on his blog.

Click here to read Usman's tech blog
Subscribe to RSS feed
Photo © Usman Khurshid, Mike McCune, Maartje van Caspel
COMING 2019 – COMPUTING CORPUS Active Network Hub (c) Phil Sigin-Lavdanski
Photo © Phil Sigin-Lavdanski

Oh, please do not get me wrong. This new section is not about computers, electronics or any engineering stuff, but rather I am currently constructing a new corpus based on Spectrum, the monthly publication from the Institute of Electrical and Electronics Engineers USA, from July 2007 to date. Having been a member for over 20 years since 1992, I am always fascinated by some of the terms scientists use when they talk about or envision their new inventions or methodologies. How many of them eventually come into practice? Could there be some insights we could possibly derive, from the linguistics perspective?

IMPORTANT NOTICE AND DISCLAIMER

This website is published and designed by Raymond Cheng, PhD DPA and reflects only his personal views and opinions in his individual capacity. It does not represent the views and opinions of his firm, employer(s), students, etc., and is not in any way sponsored or endorsed by any other thrid parties. Click here to read my full disclaimer
SHARE THIS WEBSITE WITH SOCIAL MEDIA

Share on Twitter  Add to Facebook  Share on LinkedIn  +1 on Google