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The twentieth century saw a professionalization of fiction writing, particularly in its second half and particularly in the Anglo-Saxon world - not so much mainland Europe, for example. This professionalization is a tragedy. Hand in hand with this - and I have no idea what the causal relations are - there has been a rise in the idea of The Author, so that today one often has the impression that what's selling the book is not the book but the author.
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Milton Friedman
It doesn't worry me a bit that China and Japan hold so much US debt. In a way, it seems foolish for them to do it because they get lower returns than they might elsewhere. But that is their business.
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