Category Archives: Ambrose Bierce

The Devil’s Dictionary: then and now: Wall Street

This entry is a follow up to the earlier one defining abasement. For details, see earlier The Devil’s Dictionary entry: The Devil’s Dictionary: then and now: abasement

Original Devil’s Dictionary entry:
Wall Street, n. A symbol of sin for every devil of rebuke. That Wall Street is a den of thieves is a belief that serves every unsuccessful thief in place of a hope in Heaven. Even the great and good Andrew Carnegie ha made his profession of faith in the matter.

Carnegie the dauntless has uttered his call
To battle: “The brokers are parasites all!”
Carnegie, Carnegie, you’ll never prevail;
Keep the wind of your slogan to belly your sail,
Go back to your isle of perpetual brume,
Silence your pibroch, doff tartan and plume;
Ben Lomond is calling his son from the fray–
Fly, fly from the region of Wall Street away!
While still you’re possess of a single baubee
(I wish it were pledged to endowment of me)
‘Twere wise to retreat from the wars of finance
Lest its value decline ere your credit advance.
For a man ‘twixt a king of finance and the sea,
Carnegie, Carnegie, your tongue is too free!
— Anonymous Bink

Today:
Wall Street, n. Has anything really changed since the late 19th century? Except now more people can invest in Wall Street than in Carnegie’s time. Not because we are so much wealthy, now relative to then, but because the rules were changed, allowing more people to get fleeced. There is no Carnegie, friend to the common man he was not, decrying Wall Street. Now it is a group of people in New York, around the country, and even overseas, who got bailed out and never really said thank you. And when people protest, at least one state governor has even tried to illegally put them in jail.

See: Protester’s Arrested

Protesters deliver letter to governor; judges dismiss arrests as illegal

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The Devil’s Dictionary: then and now: abasement

Every now and then, it is good to revisit a classic, or even a curiosity from the past. The Devil’s Dictionary by Ambrose Bierce was originally published in newspaper installments from 1881 until 1906. You might be surprised how current many of the entries are.

For example, here is a definition for the word abasement. The first definition is Bierce’s. The second one is mine. From time to time, just as it was originally published, we will come back to The Devil’s Dictionary, for a look at it then and how it applies today.

Abasement, n. A decent and customary mental attitude in the presence of wealth or power. Particularly appropriate in an employee when addressing an employer.

Recent chart showing what a CEO makes versus the average worker makes in several developed nations throughout the world:

Pay ratio

Comparison of pay rate ratio in U.S. and other countries

Abasement, n. Where we are all going to be living as the wealthy 10 percent in the U.S. accumulate even more wealth beyond the 2/3 percent of the net wealth they already have, and the rest of us have to go live in a basement somewhere.

http://www.huffingtonpost.com/2011/04/05/us-inequality-infographic_n_845042.html#s261411&title=Wage_Inequality

http://motherjones.com/politics/2011/02/income-inequality-in-america-chart-graph

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Definition: Saint

Saint, n. A dead sinner revised and edited. —Ambrose Bierce

To learn a little more about this American writer, humorist, and satirist, try The Ambrose Bierce Appreciation Society

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