States are making very different sorts of calculations from people who are born here. I guess im not spin clarion. I think theres probably a lot more hope than just saying its culture. And, of course, the other thing is once you say its all culture, thats kind of like, its a big thing and its kind of like we cant talk about that. I think we can talk about this. What do you make of the increase of the labor force increase in alderman . And women, too. I think its terrific. I think its really the single glimmer of sunshine we see in the labor market over the past 25 years, this turn up from the 55 plus group. Its what should happen with a more educated, more healthy american population. When all these guys to and 56 they would to work . If you look at jason and the work on the age of cohort by cohort, we would have to lift and a lot of hope for that. So there were two questions that were actually union yang questions. One is to adjust cut these guys off . The other is if theyre not going to get work, would we be better off be giving them universal paychecks so theyre not breaking into as hardheaded as i am, i think we have some other options from the total darwinian option. I think as i mentioned it we were to overall programs to put incentives in place and also maybe even some help for training and for job placement, that might work even better than oliver twist. I think there are all sorts of reasons to hope that this might be better. The situation that we have net is just pretty perverse, so its a question of how we change it to make it better. I think we also need to go back and take a closer look at what actually happened in the 1990s with the welfare reform for single mothers. That would be the sort of come the example of something against what many people saw as all odds actually seems to have worked in practice. Single mothers we might want to look back at that. Universal income. My friend and colleague Charles Murray will take thats the way to go. If you think that there is something valuable in the vocation of work per se, youll get a different argument argument there, and that something i argue with my friend in college about. We are right on time. I want to thank everybody for participating and for people whod asked questions online, didnt get to all of them but we got to most. One of the advantages of this book, a lot of books are written in washington, this one is really thin so you can read it. So i committed to all of you. And thank you all for coming. And thank you, david. [applause] [inaudible conversations] [inaudible] there we go. Ill start over. Welcome. Thanks for coming today. My name is Susan Barribeau and i work for the madison libraries as a special collections librarian and english languagell librarian. Welcome to the wisconsin bookk festival. I would like to introduce today our author, andrea mays, who will be talking about her book, as this fantastic cover, the millionaire and the bard. Tell you a little bit about andrea mays, like can revolt has been possessed shakespeare and his times. Andrea spent much of her manhattan a girl called holed up in the near Public Library listening to vital lp recordings of performances by the Royal Shakespeare company. A graduate of Stuyvesant High School shows not only a protege frank mccourt, but also of his own mentor, the legendary new York Public School teacher. Andrey has degrees in economics from State University of newte i york, binghamton and from ucla. And teaches economics at cal u State University at long beach. She was a president appointed. U. S. International trade commission where she served as economist to the chairman where picture divides her time between california and washington. The millionaire and the bard is her first book. Book. It is an excellent read about an extraordinary book about Henry Clay Folger and his wife pamela folger. Fans of shakespeare and passionate excess collectors. They are the founders of the Folger Shakespeare library in washington d. C. And that ista their gift to the United States, the people of the United States. I will not say much more, but i will let andrea mayes told this story. Thank you. [applause] hi, welcome, everybody. Thank you for coming out. Ill talk a little bit about the boat, how i came to write it, what it is about and why the timing of this book wasand im incredibly fortunate. Im also going to give you antan assignment, some thing to do starting november 3rd. Kerry is going to be a copy ofnt the first folio that you can visit at the university of wisconsin. So ill get to that at the end of my story. First i want to talk a little bit about how i came to write this book. How did the idea come to me, what spurred me to do this . My obsession with shakespearebe began as a lot of the sessions i think to as a result of an excellent teacher who introduced me to the plays of shakespeares guardian in middleschool and then working my way through high school i had excellent teachers for elizabethan and jacobean literature and i was bitten by the bug and was off and running. Ive been reading the plays from his seat in play is being since then. When it came time to read a boot a month someone recommended to me that i do write about something i knew a little sub in about so that i was not going to be starting from ground zero and perhaps spending a great deal of time is something i didnt enjoy it. And so, my sister said how aboul shakes here come as something related to shakespeare wasnt quite sure exactly what subject. To write about his thousands of books have been about shakespeare. What did i do that with a little bit different . Heres how it happened. A separate shakes. Le bit d in high school and then we use the folger editions of thes in h shakespeare plays in high school. If you have not used a folger editions come with their paperback books and on one side of the page is a tax and on the facing page or definitions. Its very helpful. You dont have to go to the bottom of the back of the book. That was my first exposure to folger said the director. Later at ucla in law school i came across Henry Clay Folger as a defendant in the same as Standard Oil Case from 1911 and i wonder if thats any relation with the weather to the folgerm. Edition. And then i moved to washingtonoh d. C. In the mid1980s and walked by the Library Every day on my way to work. At some point i went into the folger for one of their tours and asked where the money had come from the built thisthe collection and the distant dad, mr. Folger worked for an oil company. Tle mo i thought this was Something Worthy of a little more research, a little investigation and that was how i started weaving the two stories together. I grew up in new york city surrounded by the trappings of the gilded age. So the carnegie mansion was across the street from them church. The first mention was across the street from the bus stop that i got off the middleschool. Our science trips for up to the rockefeller preserve and so on. I have been surrounded by the gilded age since i can remember. And all of that comes out in the book. So really what the millionaire and the barnard is about two separate stories, too. That time, elizabethan and abundant mostly in new york during the gilded age and how we move from one story to the other disconnect did through a book and that is the book that i read about, shakespeares first folio. We digress for a minute, talk for a moment about who shakespeare was. You may be aware that this is the 400th anniversary of shakespeares death this year. So many events are going on around the United States and elsewhere to celebrate or commemorate this event,om including the exhibit at the university of wisconsin madison which ill talk a little bit about. Kespea so we are celebrating 400 years later the great work of men left behind. When he died, it was by no means sure that he would become the secular god of englishlanguage literature. He had contemporaries who were extremely talented. It was not he was the only playwright of the era, that whe he died, only half of this place had been published. None of those have beenbe published with his permission. Let me explain a little bit why that would instead. At the time there was no copyright law. The copy via. , the act of queen and did not come into existence until senate tivo nine in england and therefore the author had not Property Rights in their own place. Playhe they would sell the place out right and then the Theater Companies didnt want to publish because anyone who got a hold o a copy if you were to perform a play perform the plann competition with them. So how did half of the plays get out into get published. The answer is pirates. Not our parent, but the printers would for example high yourur player from that company to recreate the play as they knew it. And they would say, you know, come on and have a seat. And then they would write down as fast as they could whatever they came up with. Sometimes its an interesting and not so great a size. Another thing they would do is send a stenographer into the audience would play was being performed and have them right out as quickly as they could whatever is going on in the play, again sometimes with mixed results. Half of the plays includingml hamlet for already published ina paperback version. If you check a very large piece of paper, folded it once, folded in quarters again, that would be the size of a paper paperback book. The other half of the plays we know about because there would virus at the time who attended plays, wrote about them, but we would not have had copies of them. Had a book not publish the shakespeares friends seven years after shakespeares death. So 1616 16 shakespeare dies when it goes into the ground, half the plays are in danger of evaporating. Two of his friends, fellow actors in the Globe Theatre company decided to collect shakespeares plays, edit them and publish them as a memorial to their d. C. Spread. They made a couple of interesting decisions. One was they were going to publish this allinone volume. In order to do that, they would have to do it in an extremely large format. About 13 inches at eight inchesr is the format. If you have a large piece ofof paper and fold it only went, to be a folio size and extraordinary to publish plays and not format. In part this works that size had been reserved pretty much for serious work of religious or political import and, not for something as ephemeral as plays. You might be aware of the history of jeter during elizabeth and james brain that the puritans had a great deal of power and parliament including one of elizabeths advisers, the puritans were against theater because it was an offense to god tend to be something that you werent. So much of that time that only men and boys around the stage, not women. Not only were they pretending to be something they were, but always pretending to be women. This is more than the puritans could handle. These two men, john having an henry kondo, two great Unsung Heroes of englishlanguage literature whose names almost no one does you do now, collected the sources that would have been available including these paperback versions of the plays. Whatever manuscripts theyad mightve had available to them as members of the theater can do because they wouldve owned the manuscript outright. And they came with some thing that no other publisher couldkne have had enough is the knowledge of how the play had been performed because they were active in those plays thatpeare shakespeare or under his direction. So when it came to taking a version of hamlet and reading a soliloquy, they might say no thats not how we did it. This is how it went. Thats not how it performed better. They essentially became the first editors of shakes years and left us with versions of the play that we know today. So the sources that they might have assembled no longer exist then theres no diary from having telling us what it is they did, but researchers surmised the sources of mightve been available to them. What are some of the plays that would have been lost . You might be familiar with some of them. How many of you brad that back in high school . Thank yo [inaudible] go rosalind, no tempest, no full fathom five and his bones are coral made. Those are pearls that were his eyes. Nothing of him that change but this effort be changed into something rich and strange. All of that wouldve disappeared had this this book not been published. So it into the cleopatra, and long list of 18 plays that would have disappeared on the books that been published. The book was published in 1623. So just to pay for half a pound and then you could ride it to your favorite pounder they could validate to your tapes. The original binding for these folks became extremely valuable and extremely coveted in thell collect it were up. So now we talk a little bit about how this book we caught shakespeares first folio, how about evolved as a collection of that evolved through thean century. The answer is that became a finish up jack. It is not an especially rare book surviving in a number of 235, although 236 is about to be announced, so stay tuned for that. 235 copies known to survive. We are only two copies of one of them survived in the interrupt that is complete. The one at the British Library is missing one page. The one at the Henry Huntington museum in pasadena is missing a different page. Together it forms one complete copy. There is a single known surviving copy of ted bissinger on a case from 1597, the first play of shakespeare publish while shakespeare was alive and the single copy was found in a library in sweden in a boxught e university and later bought by henry fulcher. That is the only copy remaining in the world that i have helped with. So the first folio as i mentioned became a fetish of it particularly prior to the gilded age, but in the gilded age was a fetish object for collect tears. Mostly collectorcollector s would want a single exploit copy of a big original seven century by name containing all the plays and then theres the leaves of the book particularly valuable. Those do you expect over 400 years to get the most damage. The first page of the last page, the last page is fairly rare. The portrait page which contains that engraving of shakespeare that we all know so well its partly on the cover. That by the way is one of two known likenesses of shakespeare not done from life. It there is no portrait done from life that hes discovered yet. But people knew shakespeare were still alive. So when they collect these plays and a gauge to do the raving, they could have said thats not what he looked like. Shorter mustache, brighter eyes, whatever it was committed these are people who knew shakespeare co. Said this is what it looks like. The other is the effigy of shakes their ipad and a turning church which also was noncommissioned by his soninlaw and therefore someone who would have known what he w looked like. So the typical collector would have wanted a high spot including a portrait page, for example. There are many copies of that in the fulcher collection. That is one of the more valuable pages of the book. So the high spot. Someone like Henry Huntington, jpmorgan would have collected a really beautiful complete copypl and then they wouldve gone on to something else. The huntington collection has only a cynic, but also jack london and france than in Abraham Lincoln and all kinds of other things. Henry fulcher was different in these collectors and that heng singlemindedly pursued anything relating to shakespeare. It could be tangentially related to shakespeare. Mightve been a source material but they did to 17 that shakespeare might have known about barney that shakespearee might have known about, but basically he singlemindedly collected shakespeare. Let me talk a little bit about who henry folger was because most people dont know who it was then that was part of the reason to read the book. Henry clay fulcher was born in brooklyn in the 1830s,er middleclass family. His father was a millinerer supplier. He went to Amherst College and while he was in school, his fathers business what a breath and he moved back to new york city and enrolled into the college of new york which was tuition free at the time. Because a friend he had gone to school that said you have to finish at amherst, he was able to arrange a loan that enableds him to go back to amherst. The man who arranged the loan later became his mentor and employer, Charles Pratt and ill talk more about him later. He appears as a character later on as his son Charlie Pratt ended up being one of henrys life long friends, not least in part because he introduced him to his wife. So henry finished his amherst, moves back to brooklyn, and roasted in a school at columbia for law school and goes to work as a clerk in a pratt oil company. The private oil company in brooklyn has been taken over by standard oil of new york with john d. Rockefeller. Pratt becomes again an executive in the standard oil co. And henri starts at the bottom as a clerk of works his way up eventually becoming president of the Standard Oil Company of new york. 1911, the antitrust case resulted in abuse split into 36 different companies. The largest piece of standard oil answers become the secondlargest in new york and that is the one henry becomes president death and later a becomes chairman of the board. From being a clerk, he works his way up to be chairman of the board of the Standard Oil Company. So nine to five years writing excuse me, he is one of the Worlds Largest corporation and afterward he goes home and his wife who is the who was the shakespeare it in her own right has hit her masters thesis on the true text of shakespeare. He and his wife put go throughdn catalogs and order things for their collection and open the t packages that arrive can examine the books come up with the books. They read the books that they bought. They they would examine these books. Emily would write out an index card with all the bibliographic information, including where they had purchased it, what its condition was, who th