WEBVTT Kind: captions; language: en-us NOTE Treffsikkerhet: 79% (HØY) 00:00:01.200 --> 00:00:11.100 all right so welcome back when you read the David Harvey text this one that we talked about in the 00:00:11.100 --> 00:00:19.300 last recording "freedom is just a word" you'll notice something that is perhaps a bit peculiar bit 00:00:19.300 --> 00:00:23.950 strange to your anthropological eyes NOTE Treffsikkerhet: 91% (HØY) 00:00:23.950 --> 00:00:31.400 and that is the fact that there are not many people in that text in the sense a real people doing 00:00:31.400 --> 00:00:40.200 real thing is in the way that we are used to encountering in ethnographically based text 00:00:40.200 --> 00:00:47.600 so the agents in Harvey's text are the proponents of the neoliberal consensus the economic Elites but 00:00:47.600 --> 00:00:54.200 they're kind of abstract he writes with a certain day an anonymous Elite group who NOTE Treffsikkerhet: 86% (HØY) 00:00:54.200 --> 00:01:01.700 influences the world lingering in the background, and he does very thorough job and Reporting 00:01:01.700 --> 00:01:09.800 statistics that demonstrate how since the neoliberal consensus became kind of the name of the game 00:01:09.800 --> 00:01:16.400 since the era of Reagan and Thatcher as we've been talking about the levels of economic 00:01:16.400 --> 00:01:23.900 inequality has shot through the roof. Now Karen Ho NOTE Treffsikkerhet: 91% (HØY) 00:01:23.900 --> 00:01:25.750 here she is NOTE Treffsikkerhet: 81% (HØY) 00:01:25.750 --> 00:01:34.500 is the only real ethnographer on the syllabus for this week that is she's the only Anthropologist 00:01:34.500 --> 00:01:42.000 who is doing fieldwork and reporting about that field work in the text basically, and her 00:01:42.000 --> 00:01:48.200 project is on one hand it's kind of aligned with the political economy approach that David Harvey 00:01:48.200 --> 00:01:56.000 stands for and will come into the reasons for why that is, but Karen Ho does in NOTE Treffsikkerhet: 90% (HØY) 00:01:56.000 --> 00:02:04.200 her research do something different she goes and actually works among real people among 00:02:04.200 --> 00:02:12.900 Bankers among Wall Street Traders in order to come up with an account of how their world operates. So 00:02:12.900 --> 00:02:22.300 she did her fieldwork in the late 1990s and it was quite the pioneering work I think if I can turn 00:02:22.300 --> 00:02:26.100 this on I'll show you yes here we are NOTE Treffsikkerhet: 88% (HØY) 00:02:26.100 --> 00:02:36.200 this is our book liquidated which is one of the first real anthropological studies of Wall Street 00:02:36.200 --> 00:02:48.000 or Wall Street Bankers to come out, and we're reading another one of those pioneers in the 00:02:48.000 --> 00:02:55.950 Anthropology of finance who's called Caitlin Zaloom a little bit later on in the course but her NOTE Treffsikkerhet: 88% (HØY) 00:02:55.950 --> 00:03:04.400 is basically why do markets crash or why is it that they follow the stock market's these cycles of 00:03:04.400 --> 00:03:06.800 boom and bust. NOTE Treffsikkerhet: 91% (HØY) 00:03:06.800 --> 00:03:19.900 She goes into Wall Street like any other anthropologist would go into a village with this question in 00:03:19.900 --> 00:03:21.149 mind. NOTE Treffsikkerhet: 80% (HØY) 00:03:21.149 --> 00:03:33.200 Now many pro-market thinkers we call them that such as those influenced by Milton Friedman have 00:03:33.200 --> 00:03:42.500 argued that this boom that happened in the time that Karen Ho did her fieldwork it was a it was 00:03:42.500 --> 00:03:49.600 an economic boom of this was the result of neoliberal policies and then comes you know the critical 00:03:49.600 --> 00:03:51.850 political economists influenced by NOTE Treffsikkerhet: 87% (HØY) 00:03:51.850 --> 00:03:59.900 by the likes of David Harvey pointing out that the boom coincided with I mean the the economic 00:03:59.900 --> 00:04:10.100 growth coincided with the decline in living standards of gross growth in inequality and the job 00:04:10.100 --> 00:04:18.700 security for millions of working-class Americans suffered and ended with a crash and the late 1990 00:04:18.700 --> 00:04:21.750 or 2001 the.com bubble when Karen Ho was NOTE Treffsikkerhet: 80% (HØY) 00:04:21.750 --> 00:04:30.800 Was doing her fieldwork and then of course the massive financial economic meltdown in 2008. 00:04:31.600 --> 00:04:39.750 Karen Ho is different from both these accounts she argues that both the critical and neoliberal 00:04:39.750 --> 00:04:50.400 accounts have their shortcomings her basic kind of message to the anthropological audience is to 00:04:50.400 --> 00:04:51.799 treat NOTE Treffsikkerhet: 73% (MEDIUM) 00:04:51.799 --> 00:05:03.100 Wall Street less as an anonymous sites another like an abstract place where Universal forces are 00:05:03.100 --> 00:05:10.750 At play and more like a village or any other anthropological site where local cultural context 00:05:10.750 --> 00:05:16.150 matters and helps explain certain things NOTE Treffsikkerhet: 91% (HØY) 00:05:16.150 --> 00:05:21.700 she says that Wall Street is a culture in itself it's a system that produces certain kinds of 00:05:21.700 --> 00:05:33.900 thinking certain kinds of behaviour certain things propelled by mechanisms that anthropologists have 00:05:33.900 --> 00:05:43.650 identified and described elsewhere so it's we should treat this place as we would treat any other NOTE Treffsikkerhet: 84% (HØY) 00:05:43.650 --> 00:05:48.000 location where we do field work NOTE Treffsikkerhet: 91% (HØY) 00:05:48.000 --> 00:05:52.500 and that is one of the NOTE Treffsikkerhet: 77% (HØY) 00:05:53.000 --> 00:06:04.500 more cutting-edge things I think that Karen Ho does in her book and also in this article. Now 00:06:04.500 --> 00:06:16.100 what is she then observe what does she get from treating Wall Street like any other village doing 00:06:16.100 --> 00:06:23.600 ethnography doing participant observation as you all know I've gotten used to read anthropologists doing participant NOTE Treffsikkerhet: 80% (HØY) 00:06:23.600 --> 00:06:33.300 observation what does she encounter. Well first and this is kind of a way for you all to to learn 00:06:33.300 --> 00:06:40.500 now to start reading text in a certain way because in the very first sentence of a book or in the 00:06:40.500 --> 00:06:47.600 first at least in the first page or the first few paragraphs you'll see a pattern, look for the 00:06:47.600 --> 00:06:53.500 pattern that the author was taken by. That NOTE Treffsikkerhet: 80% (HØY) 00:06:53.700 --> 00:07:03.700 brought him or her to write and start a certain kind of analysis there's something immediately in a 00:07:03.700 --> 00:07:09.900 good text especially like this in American Anthropologist 00:07:09.900 --> 00:07:17.550 where this paper was published in the very first paragraphs you will encounter a pattern 00:07:17.550 --> 00:07:20.900 and the pattern is NOTE Treffsikkerhet: 75% (MEDIUM) 00:07:20.900 --> 00:07:30.700 You could break it down in three out of these paragraphs or this is her kind of line of 00:07:30.700 --> 00:07:37.200 argument her thinking as it develops she goes into Wall Street works there for six months and then 00:07:37.200 --> 00:07:49.300 gets canned as it says "I got fired I got downsized" so she thinks that this is a paradox because Wall 00:07:49.300 --> 00:07:50.850 Street plays such a NOTE Treffsikkerhet: 90% (HØY) 00:07:50.850 --> 00:08:04.800 a crucial role in consulting and in promoting a certain streamlined way of organising economic life 00:08:04.800 --> 00:08:13.900 and of organising institutions like corporations where they often lend advice to corporations 00:08:13.900 --> 00:08:20.799 and put pressure economic incentives for corporations to downsize that is to NOTE Treffsikkerhet: 90% (HØY) 00:08:20.799 --> 00:08:29.900 lay off people in order to increase shareholder value, and what she notices is that she herself as a 00:08:29.900 --> 00:08:44.700 Wall Street Banker also was fired basically in the name of cutting costs for the the company that 00:08:44.700 --> 00:08:50.800 She worked in on Wall Street "I got downsized" so in other words Wall Street NOTE Treffsikkerhet: 86% (HØY) 00:08:50.800 --> 00:08:56.600 which plays such a crucial role in downsizing the corporate sector laying off people and Advising 00:08:56.600 --> 00:09:01.800 companies to lay off people to make more profit these were very Wall Street firms and Consultants 00:09:01.800 --> 00:09:11.750 we're themselves living relatively volatile working lives and NOTE Treffsikkerhet: 62% (MEDIUM) 00:09:11.750 --> 00:09:15.100 baby NOTE Treffsikkerhet: 85% (HØY) 00:09:15.500 --> 00:09:22.700 she encountered on Wall Street a system of short-term employment where everyone works kind of 00:09:22.700 --> 00:09:29.500 expecting to get fired and to get a bonus at the end of the year, a compensation for getting downsized 00:09:29.500 --> 00:09:30.900 and moved on NOTE Treffsikkerhet: 81% (HØY) 00:09:30.900 --> 00:09:34.650 and then she asked herself well NOTE Treffsikkerhet: 91% (HØY) 00:09:34.650 --> 00:09:42.150 is there anything about this pattern this experience NOTE Treffsikkerhet: 84% (HØY) 00:09:42.150 --> 00:09:49.750 that helps us or that is somehow related to the financial crisis we keep seeing from Wall Street 00:09:49.750 --> 00:09:59.600 perhaps this can help explain the bubble, the trading bubbles that have been so detrimental 00:09:59.600 --> 00:10:06.700 to so many people's lives. Perhaps there is something within the Wall Street institutions themselves 00:10:06.700 --> 00:10:12.750 that trigger bankers and Traders to act NOTE Treffsikkerhet: 89% (HØY) 00:10:12.750 --> 00:10:19.000 with short-term interested at hand that make them focus on short-term gain that make them trade 00:10:19.000 --> 00:10:29.450 bonds and products as quickly and as with as much risk as they can even though this will produce 00:10:29.450 --> 00:10:38.900 economic bubbles there's something going on here that perhaps tells a story about a bigger 00:10:38.900 --> 00:10:42.500 picture so this is where she starts. NOTE Treffsikkerhet: 39% (LAV) 00:10:42.500 --> 00:10:43.800 NOTE Treffsikkerhet: 78% (HØY) 00:10:44.400 --> 00:10:54.900 The second thing that she is taken by when she goes on and does an ethnography of Wall 00:10:54.900 --> 00:11:03.900 Street is this concept of shareholder value so again by doing fieldwork among the natives of Wall 00:11:03.900 --> 00:11:13.800 Street and by treating them as natives she knows this is a native term shareholder value and this 00:11:13.800 --> 00:11:15.100 seems to be what they work NOTE Treffsikkerhet: 71% (MEDIUM) 00:11:15.100 --> 00:11:22.500 towards all these Bankers on the set of a Northstar of their working lives it's almost a religious 00:11:22.500 --> 00:11:34.100 belief among traders in this notion of shareholder value, she notices how Wall Street bankers see 00:11:34.100 --> 00:11:44.950 themselves as tools for increasing shareholder value that is the stock value for the NOTE Treffsikkerhet: 84% (HØY) 00:11:44.950 --> 00:11:58.300 owners of the corporation the stock, and they seem to be more interested in increasing shareholder 00:11:58.300 --> 00:12:04.300 value then actually the well-being or the long-term well-being of the company or the well-being of 00:12:04.300 --> 00:12:11.500 the company's employees and they do this because they have an idea that the real owners of the 00:12:11.500 --> 00:12:14.550 companies are not the workers are not the NOTE Treffsikkerhet: 91% (HØY) 00:12:14.550 --> 00:12:21.900 employees but it is the shareholder the group of shareholders NOTE Treffsikkerhet: 90% (HØY) 00:12:21.900 --> 00:12:34.100 and she digs into the growth of this idea of shareholder value historically. This is the key element 00:12:34.100 --> 00:12:42.700 in key term even in the neoliberal revolution of the 1980s and 1990s as investment Banks insisted on 00:12:42.700 --> 00:12:50.900 maximising short-term returns to shareholders. Sometimes through takeovers, liquidations, downsizing, 00:12:50.900 --> 00:12:52.450 laying people off NOTE Treffsikkerhet: 84% (HØY) 00:12:52.450 --> 00:13:03.600 And asset stripping or releasing values, and she treats these processes again as an 00:13:03.600 --> 00:13:11.700 ethnographer would treat say a ritual in Papua New Guinea NOTE Treffsikkerhet: 88% (HØY) 00:13:12.000 --> 00:13:19.000 so this is religious kind of belief in shareholder value and the idea that the real owners 00:13:19.000 --> 00:13:27.100 of the companies are the shareholders and these are the ones you work for as 00:13:27.100 --> 00:13:34.550 a Wall Street Trader Wall Street banker and nothing else. This is the kind of the North Star 00:13:34.550 --> 00:13:38.400 of their working lives but NOTE Treffsikkerhet: 84% (HØY) 00:13:38.400 --> 00:13:44.700 and this is of course very close to the profit motive right that there's short-term profit for a 00:13:44.700 --> 00:13:47.050 certain group of people but NOTE Treffsikkerhet: 79% (HØY) 00:13:47.050 --> 00:13:57.700 Karen Ho argues that the idea of shareholder value is not enough to explain the 00:13:57.700 --> 00:14:07.100 neoliberal turn in finance or the boom and bust that went with it. Investment bankers actually used 00:14:07.100 --> 00:14:15.000 shareholder value as a kind of ideal and self-justifying ideology to rationalise their often 00:14:15.000 --> 00:14:17.300 contradictory NOTE Treffsikkerhet: 91% (HØY) 00:14:18.000 --> 00:14:20.500 actions NOTE Treffsikkerhet: 87% (HØY) 00:14:20.500 --> 00:14:28.350 there's something going behind the actions of the Wall Street bankers and traders that is 00:14:28.350 --> 00:14:42.400 more than just fulfilling the idea of increasing the shareholder value he gets onto this something 00:14:42.400 --> 00:14:50.600 more when she starts to discover that Wall Street Bankers they are keen on downsizing NOTE Treffsikkerhet: 91% (HØY) 00:14:50.600 --> 00:14:56.600 and accept the volatility of their workplace and the fact that they have to move from place to place 00:14:56.600 --> 00:15:04.000 get fired get downsized they do this even when it doesn't increase shareholder value even when it 00:15:04.000 --> 00:15:10.800 doesn't increase the revenue of the shareholders in the short term. There's an 00:15:10.800 --> 00:15:16.900 Institutional culture in Wall Street that is NOTE Treffsikkerhet: 72% (MEDIUM) 00:15:17.900 --> 00:15:26.300 that has this foundation in short-term contracts and insecurity among the bankers themselves NOTE Treffsikkerhet: 84% (HØY) 00:15:26.300 --> 00:15:35.300 so the lived experience of these short-term contracts that Bankers are on and insecurities that 00:15:35.300 --> 00:15:43.300 they face as investment bankers is part of what produces a culture in which the neoliberal ideas of 00:15:43.300 --> 00:15:52.300 market competition short-term gain and efficiently to make sense that is her arguments. NOTE Treffsikkerhet: 83% (HØY) 00:15:52.300 --> 00:16:02.950 There's this constant apprehension and preoccupation with losing one's job that she discovers 00:16:02.950 --> 00:16:08.700 among the investment bankers that lead them to move fast and make as many deals as possible in the 00:16:08.700 --> 00:16:22.400 little time that they have, and they look for for ways to create as many stocks as possible NOTE Treffsikkerhet: 79% (HØY) 00:16:22.400 --> 00:16:28.900 quickly as possible with high risk in order to produce as much shareholder value as possible but then 00:16:28.900 --> 00:16:39.300 also to expect that they will be downsized and they will be laid off and they will move on NOTE Treffsikkerhet: 86% (HØY) 00:16:40.300 --> 00:16:48.300 so the more deals you make these are economic incentives, the more compensation you get when you're 00:16:48.300 --> 00:16:54.000 downsized by the company and the more this brings in revenue for the 00:16:54.000 --> 00:17:00.600 shareholders. But there's also an Institutional organization and culture within Wall Street 00:17:00.600 --> 00:17:11.099 which is this fast-moving hypermarketized short-term gain mindset that itself NOTE Treffsikkerhet: 82% (HØY) 00:17:11.099 --> 00:17:23.250 produces and primes Wall Street Bankers produces short term behaviour which in the second instance 00:17:23.250 --> 00:17:28.750 lays the groundwork for these financial bubbles the crisis NOTE Treffsikkerhet: 86% (HØY) 00:17:28.750 --> 00:17:36.900 There's a relationship between the riskiness of the job of the employment the way that or 00:17:36.900 --> 00:17:44.000 employment among Bankers is organized and the culture that they produce amongst themselves NOTE Treffsikkerhet: 82% (HØY) 00:17:44.300 --> 00:17:55.200 and the effects that they produce when they do their work and the effects are these short-term 00:17:56.300 --> 00:18:08.400 trading deals and intense search for short term gain for doing as many details as possible that 00:18:08.400 --> 00:18:13.300 lead to a market where one NOTE Treffsikkerhet: 91% (HØY) 00:18:13.300 --> 00:18:20.000 loses sight of the long term, doesn't matter if people in the end will not have money to pay their 00:18:20.000 --> 00:18:29.550 debts as long as you move the product to the next person and in this way create the foundation for 00:18:29.550 --> 00:18:39.449 financial bubbles for the whole system to come tumbling down and you can notice by the way that NOTE Treffsikkerhet: 80% (HØY) 00:18:39.449 --> 00:18:47.150 these traders are then primed to milk as much out of the present as possible whether or not the 00:18:47.150 --> 00:18:53.300 deals are ultimately good for the company by any longer term measure and this runs of course if you 00:18:53.300 --> 00:19:00.350 if you remember back to what we talked about in the beginning of this lecture to Adam Smith 00:19:00.350 --> 00:19:09.100 that there are short-term pursuit of gain and of maximising shareholder value in the shorter term NOTE Treffsikkerhet: 91% (HØY) 00:19:09.100 --> 00:19:17.300 produces actually not that greater benefits for all but it produces the groundwork for financial 00:19:17.300 --> 00:19:25.400 Bubbles and you know the the consequences of which are suffered by ordinary workers. NOTE Treffsikkerhet: 91% (HØY) 00:19:26.700 --> 00:19:29.200 NOTE Treffsikkerhet: 86% (HØY) 00:19:30.500 --> 00:19:40.500 Let's summarise a bit what we've been talking about I know this is a lot for the first week and 00:19:40.500 --> 00:19:47.200 well I can promise you it will get clear if it's not a hundred percent clear at this 00:19:47.200 --> 00:19:52.700 point it will get clearer and start to make sense when you start to make connections between the 00:19:52.700 --> 00:20:00.400 readings between stuff like the Kula trade we're going to read next NOTE Treffsikkerhet: 84% (HØY) 00:20:00.400 --> 00:20:10.900 week between that and between all the other texts that you can hopefully refer back to and relate 00:20:10.900 --> 00:20:21.500 back to these early debates that we're having in this week. So neoliberalism you should know now 00:20:21.500 --> 00:20:26.500 that this is a term that's used to describe the changes in the global political economy from the 00:20:26.500 --> 00:20:30.750 late 1970s and onwards remember Thatcher and Reagan. NOTE Treffsikkerhet: 85% (HØY) 00:20:30.750 --> 00:20:38.550 it describes a tendency to associate deregulated the economic markets quote unquote "free markets" 00:20:38.550 --> 00:20:47.000 with greater freedom and prosperity for everyone outside Market or inside. It draws to a great degree 00:20:47.000 --> 00:20:52.600 on neoclassical economic liberalism of the late Seventeen hundreds and the 1800 we're going to learn a 00:20:52.600 --> 00:21:00.600 little bit more about that in the next lectures but the key quotes and the key figures you've 00:21:00.600 --> 00:21:01.199 encountered NOTE Treffsikkerhet: 70% (MEDIUM) 00:21:01.199 --> 00:21:11.100 Friedman bring to life again Adam Smith and is often criticised this neoliberal consensus 00:21:11.100 --> 00:21:19.000 from a political economic perspective as represented most clearly by David Harvey in this week. 00:21:19.000 --> 00:21:25.400 critics argue that neoliberal ideas assume that freedom only means free markets and not 00:21:25.400 --> 00:21:31.150 account for other freedoms. Freedom is as we're going to see in this course a very slippery NOTE Treffsikkerhet: 84% (HØY) 00:21:31.150 --> 00:21:39.600 Concept, it can be used as an excuse to promote all kinds of political interests or engage in all 00:21:39.600 --> 00:21:50.000 kinds of paradoxical relationships or transactions think again of the freedom the free gift of 00:21:50.000 --> 00:21:57.000 Facebook the free gift of YouTube that these companies give you and which are actually not free at 00:21:57.000 --> 00:22:00.800 all as we talked about in the how to study guide NOTE Treffsikkerhet: 79% (HØY) 00:22:00.800 --> 00:22:08.550 so there is something fishy about freedom and we need to study it and think about it anthropologically 00:22:08.550 --> 00:22:14.600 in order to get at what that is and this is just the start of our engagement 00:22:14.600 --> 00:22:23.400 with the idea the concept of Freedom when we talk about now the free market. Many anthropologists 00:22:23.400 --> 00:22:30.600 have been influenced by kinds of critical or political economic perspective Karen Ho is definitely 00:22:30.600 --> 00:22:31.150 one of NOTE Treffsikkerhet: 83% (HØY) 00:22:31.150 --> 00:22:39.500 them, however as we saw in her kind of side stepping or moving beyond David Harvey's critique 00:22:39.500 --> 00:22:45.000 some anthropologists are also critical of the political economy perspectives for too 00:22:45.000 --> 00:22:51.400 much focus on the grand theory of finance and not on the day-to-day lives of those who make up 00:22:51.400 --> 00:23:00.400 Finance who create finance as a place and as a practice that anthropologists can study much as we study 00:23:00.400 --> 00:23:01.500 other NOTE Treffsikkerhet: 91% (HØY) 00:23:01.500 --> 00:23:08.350 phenomenon, rituals, religious phenomena, kinship Etc NOTE Treffsikkerhet: 86% (HØY) 00:23:08.350 --> 00:23:16.700 and indeed this is I think one of the key lessons not just for this week but for this course it is 00:23:16.700 --> 00:23:27.000 that it's impossible to understand economic life as somehow detached from history as detached 00:23:27.000 --> 00:23:35.900 from social institutional or cultural structures this is what we see when Karen Ho goes to Wall 00:23:35.900 --> 00:23:36.950 Street. NOTE Treffsikkerhet: 75% (MEDIUM) 00:23:36.950 --> 00:23:48.900 Harvey represents the historical perspective here, but the idea that the economy is related to 00:23:48.900 --> 00:23:56.650 basically all other social structures it doesn't make sense to understand it without 00:23:56.650 --> 00:24:06.850 understanding kinship without understanding institutional culture, employment setups, deep historical NOTE Treffsikkerhet: 86% (HØY) 00:24:06.850 --> 00:24:16.600 patterns. The development of spread of certain ideology certain ideas we could add an 00:24:16.600 --> 00:24:23.100 environmental factors all of this is to say that this is a term we're going to come back to the economy 00:24:23.100 --> 00:24:30.100 is embedded in society this is something that Karl Polanyi will talk about in a few lectures 00:24:30.100 --> 00:24:36.850 and there are other logics as we saw in Karen Ho's studies of Wall Street it's not just the NOTE Treffsikkerhet: 82% (HØY) 00:24:36.850 --> 00:24:42.300 profit motive even though of course the profit motive is important remember the triangle in the 00:24:42.300 --> 00:24:49.000 orchestra and the symphony I think it belongs there obviously this is a clear tone it is 00:24:49.000 --> 00:24:57.700 something that is obviously a part of economic life but there are also other logics that drive 00:24:57.700 --> 00:25:06.200 economic behavior in that shape economic life, Mauss, Malinowski are two NOTE Treffsikkerhet: 91% (HØY) 00:25:06.200 --> 00:25:13.300 two types that we will come to next week they'll directly into some of these 00:25:13.300 --> 00:25:26.200 other logics gift exchange reciprocity. So keep with it stick, with your reading and I think we 00:25:26.200 --> 00:25:35.200 can hold on to this idea of the of economic life in the syllabus as a grand symphony of many 00:25:35.200 --> 00:25:36.900 different instruments NOTE Treffsikkerhet: 91% (HØY) 00:25:36.900 --> 00:25:51.800 sounds that all belong in the the complex and rich piece of music that this syllabus kind of 00:25:51.800 --> 00:26:01.400 represents or we can think about it in that way and the symphony is just starting so keep your ears 00:26:01.400 --> 00:26:06.500 open, keep reading, keep asking questions, start asking questions NOTE Treffsikkerhet: 90% (HØY) 00:26:06.500 --> 00:26:15.900 send me your questions, go to the seminar with questions, start study groups George's is going to take 00:26:15.900 --> 00:26:22.600 you through some of the routines that we're going to set up for your seminars and throw your 00:26:22.600 --> 00:26:24.500 hat in the ring NOTE Treffsikkerhet: 91% (HØY) 00:26:25.000 --> 00:26:31.699 this is the way that you're going to learn the most and get the most out of this and we're going to 00:26:31.699 --> 00:26:42.000 keep pushing you towards reflecting on the connections between what we read and what the lives that 00:26:42.000 --> 00:26:47.400 you live and the future that is coming for you in your own lives and the kind of dilemma the 00:26:47.400 --> 00:26:54.700 very human dilemmas that we're all going to face so keep it going and I look forward to NOTE Treffsikkerhet: 84% (HØY) 00:26:54.700 --> 00:27:01.600 being part of it and to hearing from you all in not too long see you soon.