Eclectic

How Stocks Work

Wall Street, NY in 1867

For many years nobody could explain to me the rational basis of the stock market. They told me that prices were controlled by the law of supply and demand. Investors expected the the price of shares in successful companies to rise and so they bought them. This demand then drove the price up. Those who got in early enough would make money when they later sold their appreciated shares. This is all true, but it did not answer my question: why do shares have value in the first place.

Continue reading…

Review of the Sun Joe CJ603E Wood Chipper

Ever since I first saw them in a catalog years ago I have wanted own one of those garden waste chippers. Those I saw 30 years ago were made of metal and cost far more than I could justify paying. But consumer goods are getting cheaper and home wood chippers are no exception. One reason they are cheaper is that the stamped and folded bodies of heavy-gauge sheet metal have been replaced by molded plastic. Still the prices seemed too low for a useful machine. Surely they would break and jam unless the openings had been made deliberately small enough that nothing which would put a strain in the mechanism could be inserted in which case the machine would be of little practical value.

Continue reading…

Where Did Sputnik Get its Name?

Postage stamp shows Earth in orbit around Sun with a man-made object in Earth orbit.

On October 5, 1957, the Soviet newspaper Pravda announced that the Soviet Union had launched a 184 pound object into Earth orbit. That first artificial satellite has since come to be known in the English-speaking world as Sputnik. In the West it is now widely assumed that the Soviets chose the word sputnik as the name for their satellite because it means “fellow traveler.” This is not what actually happened.

Continue reading…

Darwin and Pasteur

Charles Darwin seated
Charles Darwin

On November 24th, 1859, the naturalist Charles Darwin published a book entitled On the Origin of Species by Means of Natural Selection, or the Preservation of Favoured Races in the Struggle for Life. In it he offered his views on how God had created the living world. He summarized his overall view thus:

Authors of the highest eminence seem to be fully satisfied with the view that each species has been independently created. To my mind it accords better with what we know of the laws impressed on matter by the Creator, that the production and extinction of the past and present inhabitants of the world should have been due to secondary causes, like those determining the birth and death of the individual. When I view all beings not as special creations, but as the lineal descendants of some few beings which lived long before the first bed of the Silurian system was deposited, they seem to me to become ennobled.

Continue reading…