This small business in downtown Victoria has diversified to selling pizza and wine. But that would not protect it if a tsunami washes away the city or the next government decides that anyone who owns an ethnic restaurant is un-Canadian and should have their business confiscated and sold at auction
(The following is outside my usual topics but its an area of my expertise that I have not found anyone else talking about).
Wise investors use diversification to reduce risk. Any one investment might fail for many different reasons, but many different investments are unlikely to fail together. Additionally, what causes one investment to do poorly often causes others to do well. Rising energy prices hurt manufacturing (which buys energy) but not energy companies (which sell it). Rising wages hurt employers with many low-wage employers, but benefit businesses who sell to consumers. Classically, bonds and stocks tend to move in opposite directions under a given type of pressure, so almost all long-term investors will benefit from holding some of both. For most of history opportunities for diversification were limited, and a prudent investor might buy several plots of land, invest in a ship’s cargo, and make some loans to neighbours. In the 20th century, mutual funds allowed small investors to own dozens of different assets for low but significant costs. Today anyone with a bank account in Canada can buy an index fund that holds thousands of different assets around the world for around 0.25% of their investments per year. However, most of these funds lack one important type of diversification.
After an email exchange, I have learned that some prominent people want to believe that the population of the Americas in 1492 is known closely. Here is why I say it is debated within a factor of 20.
Colin McEvedy and Richard Jones have the following to say in their 1978 Atlas of World Population History:1
The estimate of 1m Amerindians north of the Rio Grande- which breaks down into 0.2m in Canada, 0.05m in Alaska, and 0.75m in the rest of the Continental USA- goes back at least as far as J. Mooney (Smithsonian Miscellaneous Collections 80.7 (1928)); it seems to be generally accepted, though the California school of revisionists has issued a trial balloon in favour of 20m (sic). The present population of 0.6m represents a recovery from the all-time low of 0.5m reached in 1925. … The size of the population of Mexico in 1492 has lately become the subject of much academic argument. … The point at issue is this: was the population of Mexico in 1492 no more than 5m (Rosenblat) or was it more than 30m (Cook and Borah)? Comparisons with other parts of the world at comparable levels of culture leads us to throw in our lot with Rosenblat.
So McEvedy and Jones acknowledge disputes about the pre-Columbian population of the USA and Canada within a factor of 20, and disputes about the population of Mexico within a factor of 6. Their arguments for one end of the range are no more sophisticated than “it seems to be generally accepted” and that if the population of Mexico had been as high as 30 million, then the rate of decline which this implies would be an “improbability.” Most of their numbers for the period 1 to 1500 CE were copied by Angus Maddison whose numbers are very widely used today. But 1978 is a long time ago, so if you prefer you can check a more recent survey.
From Graham Wrightson: Call for Papers – The Many Faces of War XI, The Consequences of Conquest – March 4-6, 2026Downtown Library, Sioux Falls, South Dakota In honor of the 250th anniversary of American Independence we will examine the origins of war, conflict, or battle and if there is a difference between rebellion or revolution. The... Continue reading: Cross-Post: CFP Many Faces of War XI – March 4-6, 2026
I wish I could like a flick where this happens to a Roman in the first scene! This and all subsequent screenshots are from Gladiator (Ridley Scott dir., 2000) and the ActionPicks YouTube channel
In the Kingdom of Khauran, every hundred years a witch shall be born to the royal family. In the United States of America, every ten years Ridley Scott shall borrow unimaginable sums of money to mangle a new period of warfare. This has been foretold and has come to pass although none can foretell whether he will return with an Amarna Age epic where the chariots have exhaust pipes or a science fiction adventure which makes Starship Troopers look like sound military science.1 Making fun of all the things these films get wrong is healthy fun around a gaming table or along a bar, and recently Bret Devereaux entered the genre on his ACOUP blog (part 1) (part 2) (part 3). But as I wrote back in 2016, complaining about bad things is often bad strategy. So this week I will wrote about the things I like about the opening scene in Ridley Scott’s Gladiator. That is something I can cover in a short bookandsword post, whereas it takes three long ACOUP posts to cover some of the things that are wrong with the same scene.
A very foolish and ignorant man has made a decision. Unlike some people with a PhD, I won’t claim I can predict the future. If you want that, I recommend you find a haruspex and slaughter an ox. What he sees when the steaming liver gleams like a mirror may be true or plausible lies, but at least you will get a summer barbecue for your trouble. But I can describe the structure of the situation as I see it, just like I did in The Iron Horse in Ukraine.
In the past year a number of my academic publications have come out (it often takes years from submitting an article to an academic venue to seeing it in print because almost everyone involved is a volunteer with a demanding day job and no personal assistant to help them organize and focus). This week I would like to talk about them.
Queen’s University in Ontario, Canada, offers 20 scholarships of at least CAD $40,000/year for four years to doctoral students whose offers from top U.S. schools have been rescinded or who are reconsidering their acceptance to a US school for the 2025/26 academic year. The application is straightforward: find someone willing to supervise you, show your... Continue reading: Cross-Post: Queen’s University Special U.S. Doctoral Recruitment Initiative
Do you need a second pair of eyes on that book, paper, or project report? I have been editing business and academic writing since 2013. Aside from ancient world studies and medieval studies, I have experience creating software documentation and a background in academic computer science. Because of my time living in Austria, I have experience with the challenges of writing in a second language or a new field.
The first part of my three-part series on medieval linen armour has appeared in Medieval Clothing and Textiles 18. Whereas in some periods linen armour is commonly showed in paintings and sculptures, there are very few pictures of fabric armour from western Europe between 500 and 1250 CE. No quilted garment survives from Europe in this period either. So I discuss about thirty texts from this period. I work with texts in Greek, Latin, Old French, Ibero-Romance, Irish, Middle High German, Old Norse, and Arabic, and provide my own translations of the Greek, Latin, Romance languages, and Middle High German. Whereas most books summarize and allude to a few of these texts, I put them in context and give both the original language and a translation.
The building one street up, at Government and Fort, reminds me of architecture from the last days of the Austro-Hungarian empire!
Cotton is an old word, but people west of India and north of Sudan often call cotton “tree wool.”
iṣe naš šipati “the tree which bears wool” (inscription of Sennacherib of Assyria describing plants in his garden, 705-681 BCE) Chicago Assyrian Dictionary volume “I” p. 217
“This breastplate had been stolen by the Samians in the year before they took the bowl; it was of linen, decked with gold and tree-wool (εἰρίοισι ἀπὸ ξύλου), and embroidered with many figures” Herodotus 3.47.2 (c. 430-420 BCE) tr. A.D. Godley slightly adapted, cp. 3.106.3, 7.65 on tree-wool in India and Theophrastus, On Plants IV. 7, 8 on cotton grown on the island of Bahrain (Akkadian and Sumerian Dilmun, Greek Tylos)
Middle and Modern German Baumwolle “tree wool, cotton” (already appears in Erec by Hartmann von Aue around the year 1185 per https://www.koeblergerhard.de/mhd/mhd_b.html “boumwolle”, Jacob and Wilhelm Grimm do not have much to say. The line about a saddle cushion soft as a cotton (ein Paumwol) is line 7703 of the Ambraser Heldenbuch so there is Innsbruck content!)
Do my gentle readers know this calque in other languages?
