Of We Go Again, Ready, Set……….

After a weekend of semantic analysis the currency markets didn’t take long getting back to work – the euro was only a cent off its all time high by late morning. According to Dictionary.com the relevant meaning of volatility is: tending to vary often or widely, as in price – the ups and downs of volatile stocks. Not much danger of volatility here, not if the only way the dollar is going to go is down. Wouldn’t the more appropriate term have been secular decline? But maybe they aren’t against that, and the markets in turning the pressure back on the dollar, have read the signal exactly right.
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Hannah Arendt: The Banality of Evil

[I’d like to start by thanking the Fistful of Euros team for inviting me to guest-blog here this week. I’m hoping to offer a mini-series on European thinkers, focusing on just an aspect of the ideas of the thinker I choose in each case. I say ‘hoping to’ because I still have to compose the posts. But, anyway, here goes with the first of them?]

Hannah Arendt famously wrote about the Eichmann Trial in Jerusalem in 1961. In doing so she popularized the phrase ‘the banality of evil’, applying it to Adolf Eichmann in particular. Arendt referred to?:

the lesson that this long course in human wickedness had taught us – the lesson of the fearsome, word-and-thought-defying banality of evil. [All quotations from Eichmann in Jerusalem, except as otherwise indicated.]

A certain amount of misunderstanding has been generated by Arendt’s use of this phrase. That is in part because it was inapt to her intended meaning; in part perhaps also because it may have been inapt to its principal object – Eichmann.
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