Review: The House of Morgan

Review: The House of Morgan

The House of Morgan: An American Banking Dynasty and the Rise of Modern Finance by Ron Chernow

My rating: 4 of 5 stars

When I picked up this book, I assumed it was a biography of the two famous John Pierpont Morgans. But this is far more; indeed it is a true history of the Morgan bank, though admittedly with heavy emphasis on the biographies of the key figures. Given that this history spans over a century and includes a huge number of players, politics, and policies, the fact that Chernow could put out such a polished book in two and a half years is a testament to his skill as a writer and researcher.

The book is most colorful in its beginning and slowly fades into the dullness of contemporary reality. The Bank of Morgan began with the 19th century financier George Peabody, a sort of Dickensian miser turned philanthropist. Lacking a son, Peabody passed on his business to Junius Spencer Morgan, another personality of a bygone age, who managed to combined pious moralizing with strict business. His son, Pierpont, is by far the most colorful character in this panorama. A rabid art collector, an amateur archeologist, and an inveterate womanizer with a swollen nose and an enormous yacht, Pierpont was a central figure in the American economy of his age.

His son, “Jack,” though resembling Pierpont physically, was a far more mild-mannered sort of banker. His life is mostly lacking in racy and romantic stories (except for the time he was shot by a would-be assassin). The Morgan line mostly fizzles off after Jack; but there are many other Morgan bankers to take note of. The most important was undoubtedly Thomas Lamont. Chernow tracks Lamont’s strange journey from the cosmopolitan advocate of the League of Nations to an apologist for Italian fascism and Japanese aggression. It appears wide culture and smooth manners do not immunize one from ugly politics.

The wider historical arc of Chernow’s book gave me a bit of nostalgia. We begin with bankers in top hats and stiff collars, guzzling port wine and sucking on cigars. (Pierpont was a heavy drinker and smoker, and believed that exercise was unhealthy.) These bankers relied on charisma and relationships as much as they did on any technical understanding. The early House of Morgan was paternalistic towards its employees and stressed an esprit de corps—the importance of banking tradition over personal egos. This sleepy world of respectable bankers gives way, in the late twentieth century, to the high-octane world of trading, where highly trained employees work twelve-hour days trying to beat one another in an enormous casino.

The activities of the bankers also change markedly in this history. While nobody would argue that Pierpont was saintly or altruistic, his main activities consisted of reorganizing industrial companies to make them more productive and effective. This is a great contrast with the bankers of the 1980s, who are mainly concentrated on speculative activities and hostile takeovers which seem to have very little to do with work of real value.

Of course, my impressions of this history are colored by the fact that I know relatively little about finance and thus at times had trouble following the business side of things. Chernow, for his part, is typically vague when it comes to any technical details; his preferred style is to focus on individuals and their foibles. This was a bit frustrating, since I felt that I could have learned more had Chernow simply included more in the way of explanation.

But, as it stands, this is an extremely readable and compelling history of one of America’s most important banks. Things have changed since the publication of this book. Morgan Stanley is still going strong, though J.P. Morgan mainly serves as a brand used by Chase bank, and Morgan, Grenfell & Co. does not even exist as a name anymore. Even 23 Wall Street, the iconic home to this iconic bank, now sits empty and unused, apparently owned by a shadowy billionaire who is reportedly sitting in a Chinese jail. Such is the fate of all great empires.



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Review: John Maynard Keynes (a Biography)

Review: John Maynard Keynes (a Biography)

John Maynard Keynes: 1883-1946: Economist, Philosopher, Statesman by Robert Skidelsky

My rating: 4 of 5 stars

Keynes’s paradox, which few could grasp and which many would find unacceptable today if expressed in ordinary language, is that horrendous events may have trivial causes, and easy remedies.

This is an ambitious and impressive biography of one of the most influential men of the last century. Robert Skidelsky was a pure historian before turning his attention to economics; and in this book he attempts to do justice to Keynes’s moment in history as well as his ideas. It does not make for light reading. After trying to read Keynes’s own General Theory and finding many parts of it impenetrable, I hoped that Skidelsky’s book would provide a gentler introduction to Keynes’s ideas. But this this book is not economics for dummies.

The hardest going sections were not, however, the bits devoted to economic theory, but the detailed reports of negotiations and plans undertaken by Keynes in his many official capacities. Here is just an example:

Keynes’s main effort to get the Stablization Fund to put on the clothes of the Clearing Union was his proposal to monetise unitas. The crucial structural difference between the Clearing Bank and the Stabilization Fund set-ups was that in the Keynes Plan member central banks banked with the central banks. Member central banks would subscribe their quotas to the Fund’s account…

And so on. Probably there are a fair number of readers who could follow this sort of writing with interest, but at the moment I am not one of them.

It would be seriously unfair, however, to suggest that the whole of the book is like this. Many parts are quite entertaining. The beginning years are especially so, when Keynes was in Cambridge and then a member of the famed Bloomsbury Group. I was surprised and amused at the open homosexuality of Keynes’s milieu, and the fluidity of his sexual life. Of more lasting interest, of course, is the intellectual climate in which the young economist was growing up. Skidelsky is wonderful when it comes to intellectual history, and he able shows how the circulating theories shaped Keynes’s attitudes for the rest of his life. I would not have guessed, for example, that Keynes was so deeply influenced by G.E. Moore’s Principia Ethica.

Skidelsky is also very skilled in his ability to trace the growth of Keynes’s major intellectual theories. He does this by pairing the influence of the historical moment with the inner machinations of Keynes’s mind, showing how the economist used, adapted, and discarded the economic orthodoxy he inherited when faced with the Great Depression. The chapter on the General Theory—Keyne’s most important book—is lucid and will greatly aid my further understanding of macro-economics. Thus, in the most essential task of a Keynes’s biography, Skidelsky undoubtedly succeeded.

Apart from the dryness and density of some sections of the book—mostly concentrated in the last chapters, when Keynes was heavily involved in planning for the post-WWII economy—the book has other flaws. The most notable, for me, was probably a consequence of Skidelsky’s intellectual seriousness. That is, he is so focused on Keynes’s ideas that Keynes himself can be left behind. Strangely, though one learns a great deal about Keynes, one seldom feels that one has “met” him. The economist’s personality remains rather vague and distant.

It would be generous to call this biography a page-turner. But Keynes is perhaps not the ideal subject for a readable biography. As Skidelsky repeatedly notes, Keynes was born into privilege and remained there the rest of his life. He was a thoroughbred member of the Establishment. Thus there is no spectacle of a struggling underdog or of rags to riches. Further, much of Keynes’s influence and activity resided in the intricacies of trade arrangements, exchange rates, currency valuations, and so on. He can come across as a hyper-competent civil servant.

There was another side to Keynes, however, which is quite a bit more attractive. As already mentioned, he was a member of the Bloomsbury Group—friends with Lytton Strachey and Virginia Woolf—and deeply valued all of the arts. He spent a great deal of time and money supporting his painter friends, and was heavily involved in the world of ballet and theater through his wife. In spite of his great practical gifts and his flair for finance, Keynes was not a crass materialist and consistently thought that the good life required more than ready cash.

Politically speaking, Keynes appears to have not been particularly ideological. He could not be readily assimilable into the Right or the Left, and instead preached a “middle way” based largely on competence rather than values. As Skidelsky notes, “Keynes was moved to wrath not so much by a ‘fiery passion for justice and equality’, as by ‘an impatience with how badly society was managed’.” This is not an altogether winsome quality, I think; though it does have a certain appeal—a world of ultra-efficient technocrats resolving problems without partisan bickering.

Indeed, as Skidelsky notes, this was largely the promise of the Keynesian Revolution, which more or less collapsed in the 1970s. In the final section of the book Skidelsky includes an even-handed evaluation of the successes and failures of Keynes’s ideas in practice. Certainly I am not qualfied to judge myself. But I do think that, as we look another depression in the face, we will be thinking an awful lot more about Keynes in the coming months.

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Review: The Wright Brothers

Review: The Wright Brothers

The Wright Brothers by David McCullough

My rating: 4 of 5 stars


When you open a McCullough book you know what to expect: fine prose, strong storytelling, and inspiring stories of American heroes. That is his domain, and he is the master of it. This book about the Wright brothers exemplifies all of these virtues in just over 300 pages. The audio book in particular, narrated by McCullough himself—whose folksy and yet erudite speaking voice encapsulates his ethos—is perhaps the most concentrated form of McCullough that you can imbibe.

Like many people, I was surprised at how little I knew about the Wrights. My hazy impression of their story was thus: The brothers were eccentric bike mechanics who, through a series of trial and error, managed to make some primitive flying machines, devices that could putter a few hundred feet and lift a few dozen feet off the ground. This is quite wrong. The Wrights approached the problem of flight with remarkable dedication and care. They read all the scientific literature they could find; and they performed careful experiments, documenting each step of the way. Their final product was not just some clumsy motor-powered kite, but a sophisticated machine capable of crossing the English channel and flying over the Eiffel Tower. Their creative vision was matched only by their persistence and perfectionism.

The story of the Wrights is legitimately inspiring. Having no special resources, no roadmap, no background, no support, they were able to succeed where so many other famous and wealthy inventors failed. They endured countless setbacks, both in the research and development of their craft and then in achieving recognition for their accomplishments. But in the end, two modest men from Ohio profoundly changed human life. It is a testament to their tenacity as much as to their intelligence.

It is difficult to criticize McCullough, because he does so perfectly what he sets out to do: show us how people in ordinary circumstances accomplish extraordinary things. But of course, this requires minimizing or even ignoring many aspects of a story that would attract other writers. One prominent example of this is the Wrights’ personalities. McCullough portrays them as dignified and diligent, representatives of an old-fashioned work ethic, unconcerned with fame or fortune. But in the hands of another biographer, the Wrights might not come across as so perfectly admirable. To me, they seemed curiously aloof, distant, and even repressed. The fact that Orville flew into a rage when his sister got married, for example, seems to be worth more investigation than McCullough is willing to give it. He dismisses the long estrangement as one of Orville’s “moods.”

Reading McCullough is a bit strange in today’s political climate. He was never concerned with being cutting-edge; but now more than ever he feels distinctly like a holdover from another era. As is commonly observed, American life has become deeply divided; so McCullough’s mission—to write about universally admirable Americans—seems especially quixotic. Yet McCullough’s reputation appears to have survived the late polarization relatively intact. And I think that is a good thing. True, it is wise to be wary of national mythologizers. But for the life of me I cannot find anything to trouble my conscience or divide the nation in the figures of Wilbur and Orville Wright.



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Review: Thomas Jefferson (Meacham)

Review: Thomas Jefferson (Meacham)
Thomas Jefferson: The Art of Power

Thomas Jefferson: The Art of Power by Jon Meacham

My rating: 2 of 5 stars

I did not enjoy this book. But my opinion might not be entirely fair, since it is colored by having read biographies of Alexander Hamilton and John Adams—two of Jefferson’s political foes—right before this, by two authors (Chernow and McCullough) whom I vastly prefer. This meant that I brought some strong preconceptions to the experience.

Nevertheless, I came to this book with a great deal of hope. Jefferson had come off rather badly in the two above-mentioned biographies. I wanted to see the other side of the man, the side that so many have admired. In fact, I played the audiobook recording of this book on a family trip down to Virginia, on our way to visit Jefferson’s home, Monticello, thinking that Meacham’s biography would whet our thirst for Jefferson history.

The effect was the opposite. All of us came away with a strong distaste for Jefferson, as well as dissatisfaction for Meacham’s apologetic treatment of the man. But before getting into differing opinions of Jefferson—of which there are endless—I shall talk about the writing, of which there may be more agreement.

To do justice to Jefferson the man would require a great deal of psychological subtly. Jefferson was reserved, withdrawn, even sphinx-like, a man full of contradictions. In the hands of an acute writer, Jefferson would make for a fascinating character-study. Yet Meacham is almost wholly uninterested in psychology. Jefferson is painted more vividly in his cameos in the Hamilton and Adams biographies than he is here.

To my mind, Jefferson was a man whom one could never take at face value, yet Meacham is often content to do just that. To pick just one example, in the exchange between Jefferson and Abigail Adams on the scurrilous writings of James Callender, Meacham is content to repeat Jefferson’s bland and disingenuous excuses of his support for Callender’s vilifications of John Adam’s character (that he bailed Callender out of jail merely because they held similar political views). Such instances are repeated throughout the book, with Meacham accepting as honest what I often read as intentionally misleading or simply duplicitous.

In any case, even if Jefferson is put to one side, no other personage in this book comes alive, as do so many in the above-named biographies. John Adams—a raging personality of epic proportion—is hardly more exciting than the taciturn George Washington. I was particularly disappointed at the lack of attention paid to Jefferson’s close and important relationship with James Madison, who is absent far too often in these pages, and who leaves hardly any impression whatever.

Meacham also lacks interest in drama. Good biographies can pull you into the historical moment, and make you feel how contingent the outcome of important events was on the quirks of personality or even simple chance. Yet in this book everything is a fait accompli. Difficult and arduous accomplishments, moments of danger and discord, are all summarized and narrated with a kind of mellow assurance that these events were destined to come to pass. The result is a book that is emotionally flat.

I would have excused these faults if Meacham had dug deep into the historical background or the political issues. But these, too, are given only a superficial treatment. Not nearly enough context is given, for example, for the reader to understand exactly why the Declaration of Independence was such a revolutionary document at that time. The same can be said for the Virginia Statute of Religious Liberty.

Instead, Meacham prefers to resort to strings of vague, Latinate adjectives and to draw grand-sounding conclusions. This is his habitual mode. The following passage, from the Prologue, gives a taste of this tone:

In pursuit of his ends, Jefferson sought, acquired, and wielded power, which is the bending of the world to one’s will, the remaking of reality in one’s own image. Our greatest leaders are neither dreamers nor dictators: They are, like Jefferson, those who articulate national aspirations yet master the mechanics of influence and know when to depart from dogma.

This tendency often leads him to substitute clichés for insight:

America has always been torn between the ideal and the real, between noble goals and inevitable compromise. So was Jefferson. In his head and in his heart, as in the nation itself, the perfect warred with the good, the intellectual with the visceral. In him as in America, that conflict was, and is, a war without end.

To me, this is neither good prose nor does it provide any valuable information. You could say all of the same things about virtually any nation or political leader. And in any case I do not think it is even true. Were all of Jefferson’s goals “noble”? Is compromise “inevitable”? Is the “war” between the “ideal and the real” actually similar to the conflict between “the intellectual” and “the visceral”? What does this even mean? This passage is hardly even valid as a platitude.

This leads me to what is my core criticism of the book: Jon Meacham’s understanding of Jefferson. Meacham’s central point is that Jefferson was a man of high ideals, but someone who was willing to compromise on his ideals in order to be an effective politician. This is the “Art of Power.” Thus, all of Jefferson’s pronouncements of principle are taken at face value, and all of his actions that do not align with his stated valued are excused as shrewd maneuvering.

Yet there is a difference between compromising on one’s vision and doing just the opposite. Consider Jefferson’s presidency. After having spent the last twelve years whipping up fears of overbearing central power, Jefferson signed the Louisiana Purchase and instituted a trade embargo—two huge expansions of federal power. Meacham would have us see these moves as capitulations to circumstances. But I think Jefferson’s tendency to flout the dictates of his own pen are too numerous to excuse. To pick another example, although he often styled himself above politicking and libel, Jefferson frequently employed others to write attacks on his enemies (as in the case of James Callender).

Here is another example. After stoking fear of a national army, and after his strong advocacy of the separation of the legislative and executive powers, once in office Jefferson himself asked a senator to introduce a bill approving military force—a direct contradiction of his stated principles on both counts. Characteristically, Jefferson also requested that the senator burn his note to him, so as not to appear to be meddling in the legislature. This is what Meacham has to say on the subject: “His adversaries might see such maneuvers as hypocritical and underhanded, but in Jefferson’s mind he was doing the right thing the right way. To seize power grandly would threaten the democratic ethos of the country—an ethos he thought essential.”

As an apology for Jefferson’s actions, this makes little sense to me. First, it hardly matters whether Jefferson thought he was doing the right thing in his mind. We all are, always. Second, to consider the mere ethos of democracy important while seizing power is certainly not democratic in any meaningful sense. This is typical of the whole book: where Meacham sees a flexible and enlightened politician, I see a person totally unwilling to live by the principles that he professes.

This is, of course, most flagrantly true in the case of slavery—an area in which Jefferson is inexcusable. To do Meacham credit, he does not attempt to justify Jefferson’s life of slaveholding. Nevertheless, I think he paid far too little attention to Jefferson’s domestic situation, which was totally dominated by slaves: as workers, servants, a sexual partner, and even his own children.

I see the issue of slavery as the most telling fact of Jefferson’s psychology, showcasing his ability to compartmentalize his thoughts. None of his actions were self-consistent. He wrote that slavery was evil and must end one day. But he did nothing to end it. At the same time, he thought that blacks could never co-exist with whites, all while having a life built upon the backs of slaves, living in constant contact with them. If he really believed that slaves were genetically inferior, as he wrote, how could he have had children with Sally Hemings, one of his slaves? Could he really believe that his own children with Hemings were naturally inferior? And if he did not, how could he totally relegate these children, his own blood, to a subservient or an invisible role in his life?

These questions leave me with a rather disturbing image. Meacham, however, sees Jefferson as a flawed hero—whose vision of artful politics has much to teach us. Jefferson did likely leave the world better than he found it. And, believe me, I find many aspects of Jefferson extremely admirable. In many ways I aspire to Jefferson’s wide interests and his intellectual greatness. But I think that any honest reckoning of the man will have to deal with these darker shades of his character. The vision of politics that Meacham offers, where high principles exist mostly as rhetoric or ethos, is not for me.

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Review: John Adams (McCullough)

Review: John Adams (McCullough)
John Adams

John Adams by David McCullough

My rating: 5 of 5 stars

This is a wholly enjoyable book, which is the secret of its success. Merely flipping through and scanning a couple passages was enough to convince me to abandon everything else I was reading and to go on a pleasure cruise through history. McCullough’s writing is charming to a rare degree—elevated yet folksy, readable without being simple, and filled with personality without being opinionated. I can see why he is so popular.

Yet it must be said that McCullough achieves this charm by relegating much of the tedious, dreary, or ugly side of Adams’s life to the background. A serious intellectual appraisal of Adams would require a much deeper analysis of his political writings; but here they are minor episodes. A serious appraisal of Adams’s presidency would require a far more thorough review of his policies and legistlation, most obviously the Alien and Sedition Acts. Yet here they are just touched upon. Obviously, such a book as I am describing would be both longer and, almost certainly, duller.

Instead of attempting any kind of definitive appraisal, McCullough gives us a literary biography, a portrait of a man in his times. And Adams is well chosen for the subject of such a book. He left a huge correspondence and a copious diary, writing with rare candor and verve throughout his life, which gives the happy biographer a great deal to work with. Further, Adams was a personality of rare proportion: prickly, warm, passionate, brilliant, stubborn, loyal, foolhardy, blunt, obtuse, principled… the list is endless. As are all of us, Adams was a strange inter-mixture of virtues and vices, yet none of his were moderate.

Even if Adams had been devoid of character, however, the events of his life would still attract attention. He was at the forefront of the Continental Congress, instrumental in driving the early stages of the Revolutionary War: creating an army, appointing Washington to head it, declaring independence, and then choosing Jefferson to draft the declaration. Then, Adams had a long and adventurous life in Europe, working in England, France, and the Netherlands—a feast for the biographer. What is more, Adams was intimately involved with many of the leading personalities of the times, not to mention being the father of another president. So you can see that McCullough had plenty of grist for his mill.

Apart from all of this, John Adams was married to perhaps an even stronger character, Abigail. She comes across as truly John’s better half, if not more intelligent than wiser than he, with a personality more stable but no less fascinating. Thus the biography is, quite often, more of a dual biography of these two extraordinary people. Jefferson receives almost as much attention as Abigail, alternately friend and foe, serving as Adams’s foil: calm, reserved, duplicitous, underhanded, and often unwilling to live by the principles he professes—which makes him a far more effective politician. McCullough turns Adams and Jefferson into the twin poles of the Revolution, much as Chernow did with Hamilton and Jefferson. I suppose I should read something about Jefferson now.

Even if the reader will not come away with an understanding of Adams’s politics and policies, there is still a great deal of value in this book. As with every McCullough book, it is a window into a bygone age, illuminated by bright personalities. And in my case, that is all I wanted.



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Review: Alexander Hamilton (Chernow)

Review: Alexander Hamilton (Chernow)
Alexander Hamilton

Alexander Hamilton by Ron Chernow

My rating: 5 of 5 stars

When I opened the pages of this book, I knew little about Alexander Hamilton aside from the fact that he wrote most of the Federalist Papers. But that man had a life indeed. I immediately found myself transfixed at a story that seemed more suited to fiction than to fact. No wonder that Hamilton’s life has been made the subject of a musical. (Unfortunately, from what I have heard of the music, it is not to my taste.)

Ron Chernow must have known that he had struck gold once he began research for this book. Hamilton’s story has all of the elements of a good Victorian novel: a poor and unfortunate upbringing (born an orphan out of wedlock); a good deal of bloodshed; an ever greater dose of scheming and argumentation; a tender love story and a sordid affair; and, to cap it off, an arch-rival who brings about a tragic end. Piloting through this maelstrom of adventure is the redoubtable Alexander Hamilton: clear-eyed, bright, industrious, at times imprudent and hasty, and always true to his own nature.

In short, I found this biography both extremely readable and a revealing portrait of the first years of this nation. Chernow is a flexible writer, capable of handling the pathos of melodrama, the intrigue of political scandal, the excitement of intellectual innovation, the frenzy of war, and the private moments of quiet intimacy. His primary strength is arguably his psychological insight. Unlike Robert Caro, who is a historian as much as a biographer, Chernow focuses in on the inner workings of his subject, letting us see history through the man’s eyes rather than the man ensconced in history.

Nevertheless, I do think that Chernow’s focus on psychology can lead him astray. At his worst, he is prone to a kind of cheap psychoanalyzing that I think adds very little to the subtance of this book. This was most in evidence in Chernow’s handling of Hamilton’s childhood on St. Croix. Chernow was quick to invoke this experience whenever he wished to explain Hamilton’s behavior. This is understandable, since it is arguably a biographer’s duty to make sense of their subject’s personality by tracing their experience; and Hamilton’s childhood was unique. However, the logic of psychoanalysis is so flexible as to be able to produce any conclusion you wish to wring from it.

Here is an example. We learn that Hamilton’s mother was accused of being a prostitute, and had children out of wedlock. She was abandoned by Hamilton’s father, cast out from polite society, and then died while Hamilton was quite young—penniless and alone. Now let us imagine that Hamilton, in adulthood, was scrupulously faithful to his wife and had a family life entirely free of scandal. The biographer could then say it was an intense desire to escape this childhood experience. Now let us imagine that Hamilton was a rake and constantly had affairs. The biographer could then say that he had a special sympathy for women on the outskirts of society. And so on. My point is that any subsequent behavior can be viewed as either a result of, or a reaction against, this childhood experience, which makes its use as an explanation extremely dubious.

This is my first critique of this book. My second is Chernow’s tendency to lionize his subject. It would be unfair to accuse him of writing a hagiography. Chernow is by no means blind to Hamilton’s faults. Still, one senses that Chernow for the most part puts a forgiving and generous interpretation on Hamilton’s actions, while casting the behavior of Hamilton’s foes—Adams and Jefferson, notably—in a far less tolerant light. As Chernow did in his biography of John D. Rockefeller, he is more eager to refute allegations against his subjects than to confirm them. In the hands of another biographer, I think that Hamilton could have come across as a less glorious figure.

In any case, Chernow has produced a well-researched biography that is both exhilarating and enlightening. It is a thoroughly fine book.



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Review: TITAN: the Life of John D. Rockefeller

Review: TITAN: the Life of John D. Rockefeller

Titan: The Life of John D. Rockefeller, Sr.Titan: The Life of John D. Rockefeller, Sr. by Ron Chernow

My rating: 4 of 5 stars

He played golf assiduously, always alone, matching his record on one day against his record on another; just what the saints do when they daily examine their conscience… Such was probably also the interest dominating Rockefeller’s chase after millions. He was beyond comparing himself with his competitors; he compared himself with himself.

—George Santayana

As a child of Sleepy Hollow, I have almost literally grown up in Rockefeller’s shadow. The best walking paths in the area are in the Rockefeller State Park Preserve, an expansive and beautiful slice of forest made from a part of Rockefeller’s former estate. I can also walk to Rockwood, a park with a gorgeous view of the Hudson River, where John’s brother William had his mansion (since demolished). John D. Rockefeller’s own mansion, Kykuit, sits atop the nearby Pocantico Hills, and is a popular tourist destination. And yet, aside from his reputation as an ultra-rich monopolist, I knew almost nothing about the man.

Thus I turned to Ron Chernow, and I am glad I did. For Rockefeller presents a challenging subject for would-be biographers. A private, reserved, and even a secretive man, John D. Rockefeller was a beguiling mixture of avarice and piety; and throughout his life he has provoked both passionate praise and vicious criticism. Since Rockefeller himself was so guarded during his lifetime, never spontaneous or candid, while achieving such historical importance, it is hard to resist the urge to simplify his character—merely to fill up the lacunae he left. Luckily, Chernow’s patience and sensitivity allow him to paint a convincing and unforgettable portrait of this evasive figure.

As Chernow himself says, Rockefeller was the walking embodiment of Max Weber’s Protestant Ethic. He was actuated by a faith which told him that it was his holy duty to work zealously, and which taught him to see his own success as divine favor and his rivals’ failure as divine retribution. This faith in his mission and his rectitude gave him a purpose and a justification, pushing him to work more devotedly than his colleagues, and to feel no pangs of remorse for those he bruised along the way. His outstanding strengths were his iron will and his extreme deliberation. He kept to a rigid schedule, never acted impulsively, tabulated all of his personal expenses in a little booklet, and even showed up to work on his wedding day. This was a man who made money with the morbid devotion of a saint.

During the sections charting Rockefeller’s rise to success, I was filled with a horrified disgust with the man. Such a joyless, self-righteous hypocrite—filling his pockets with gold and wagging his fingers at the poor. I did not see anything to praise in his religion of money. Simple greed is noxious enough, but sanctimonious greed is revolting.

Yet by the end of the book I found that I both liked and admired the man, or at least the man he later became. For Rockefeller, while full of his own vices, was free of many of the vices we associate with the rich. He was neither ostentatious nor profligate; and if his puritan strictness seems joyless—his hatred of drink, cards, smoking, or anything remotely racy—it at least saved him from hedonistic debauchery. And as he grew older, he became more playful, giving away dimes to strangers, riding around in sporty automobiles, and obsessively playing golf. I was surprised to learn that Rockefeller retired early from his post at the helm of Standard Oil, ceasing all regular duties in his fifties, only retaining a symbolic title. Clearly, he saw more to life than work and money.

But Rockefeller’s greatest virtue was his charity. He gave profusely and generously throughout his life, even more than Andrew Carnegie. Much of this was new to me (for example, I had no idea he founded the University of Chicago); and this is no accident, since Rockefeller did not like putting his name on things. (His name was so vilified anyway it would likely have hampered his charities.) And contrary to what you might expect, Rockefeller’s philanthropic impulse was deep and genuine, something he had from the beginning of his life. According to Chernow, Rockefeller’s contributions to medical research revolutionized the field. So on a purely utilitarian tabulation of pain and pleasure inflicted, Rockefeller probably comes out positive in the end. (Rockefeller himself, of course, thought that his life had been virtuous from beginning to end, and never conceived charity as recompense.)

As I hope I have made clear, Rockefeller was a complex man—or, perhaps it is more accurate to say that he continually resists attempts to stereotype him, which is always uncomfortable. And it is a testament to Chernow’s ability that he captures Rockefeller in all these aspects. Now, this was my first Chernow biography and, I admit, I was somewhat disappointed at first. Naturally, I measured this book against Robert Caro’s The Power Broker, and found Chernow’s book very thin on historical background by comparison. But Chernow partially compensates for this with his fine psychological sensitivity, as sharp as a first-rate novelist. The result is a thoroughly engrossing biography, so good that I am left wishing Chernow had made it longer—specifically during Rockefeller’s early years. And you know a book is good when 700 pages does not satisfy.

 


(As an afterthought, I would like to note how gratifying it is when different books serendipitously overlap. I knew of Charles Strong as one of George Santayana’s best friends, familiar to me from Santayana’s autobiography and his letters. But I did not remember that Strong married Bessie Rockefeller, John’s eldest child, who went insane and died at the age of forty. Santayana helped to look after Bessie’s daughter, Margaret, and even handed her off during her wedding.)

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Review: The Aeronautic Adventure

Review: The Aeronautic Adventure

La aventura aeronáutica: Emilio Herrera, Juan de la CiervaLa aventura aeronáutica: Emilio Herrera, Juan de la Cierva by Carlos Lazaro Avila

My rating: 4 of 5 stars

This book has the very modest distinction of being the only book I’ve read whose author I have interviewed. Carlos Lázaro is a history teacher at the school in which I work; and when he is not scolding students or grading reports, he is researching Spanish military aviation history. This is one of the numerous books he has published on this topic.

La aventura aeonáutica is a dual biography of two of the most important innovators in Spanish aviation history: Emilio Herrera and Juan de la Cierva. Herrera was of the same generation as the Wright Brothers. His specialty was lighter-than-air crafts—dirigibles, zeppelins, and so on—to which he made great practical and theoretical contributions. Among his many accomplishments was his participation in the first intercontinental flight of the Graf Zeppelin, which earned him a ticker-tape parade in New York City. He also designed what is considered the first spacesuit, for a planned but never realized ascension to the stratosphere. Later in life he was also important for his loyalty to the Spanish Republic in exile, even becoming its (mostly ceremonial) president.

Juan de la Cierva is mainly remembered for his invention of the autogiro, or autogyro. This was a sort of early-generation helicopter, designed to fly at speeds impossibly slow for fixed-wing aircraft. The principle of the autogyro is, however, quite different from that of a helicopter. Most notably, the rotor on top is completely unpowered. Forward thrust is provided by a small frontal propeller. This motion pushes air up into the rotor, causing it to spin—though notably, unlike in a helicopter, the air flows through the rotor upwards, not downwards. The rotor’s blades are angled so that the rotation provides lift. You may think of an autogyro as a plane whose wings rotate rather than stay fixed. For this reason autogyros cannot take off and land vertically, nor can they hover, unless there is a countervailing breeze. In any case, I hope you can see from this description that this was an ingenious and original contribution to aeronautic technology.

Like Herrera, De la Cierva was politically active; unlike Herrera, De la Cierva was a committed member of the Right, and threw his support behind Franco. His life was cut short in a plane crash—ironically a passenger plane, not any experimental flight—while trying to organize international support for the coup.

I found the lives of these two men fascinating, since I had not even known their names beforehand, much less any of their accomplishments. The book is admirably informative and concise, full of attractive photos and nifty little side-panels. Hopefully I will visit the Museo del Aire in Madrid soon, to see some of these historical craft for myself.

[Cover photo licensed under CC BY-SA 3.0; taken from Wikimedia Commons; author unknown.]

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