Note to Self: Where Does the Use of "Takers" as in "Makers and Takers" and "A Nation of Takers" Come From?: It appears to come from right-wing loon and goldbug Edmund Contoski:
Note to Self: Where Does the Use of "Takers" as in "Makers and Takers" and "A Nation of Takers" Come From?: It appears to come from right-wing loon and goldbug Edmund Contoski:
I confess that I, at least, never heard Larry Summers say: "A-list people do not directly criticize A-list people: doing so is a way to become a B-list person". I doubt he has ever said it that way.
I have, however, heard Larry say—many times—that it is in general not wise to presume bad faith or incompetence on the part of, say, present or former fellows at places like, say, the American Enterprise Institute.
Ricardo believes in labor value prices because capital flows to put people to work wherever those things can be made with the fewest workers. This poses a problem for Ricardo: The LTV tells him that capitalist production should take place according to absolute advantage, with those living in countries with no absolute advantage left in subsistence agriculture.
Melissa S. Kearney: How Should Governments Address Inequality?: "In 2014, an unusual book topped bestseller lists around the world: Capital in the Twenty-first Century...
...an 816-page scholarly tome by the French economist Thomas Piketty that examined the massive increase in the proportion of income and wealth accruing to the world’s richest people. Drawing on an unprecedented amount of historical economic data from 20 countries, Piketty showed that wealth concentration had returned to a peak not seen since the early twentieth century. Today in the United States, the top one percent of households earn around 20 percent of the nation’s income, a dramatic change from the middle of the twentieth century, when income was spread more evenly and the top one percent’s share hovered at around ten percent. Piketty predicted that without corrective action, the trend toward ever more concentrated income and wealth would continue, and so he called for a global tax on wealth.
Paul Krugman: The Schlock Of The New: "I’m still thinking about Kevin Hassett’s appearance at the Tax Policy Center...
Insults aside, he offered a new analysis of corporate tax incidence – an approach that is novel, innovative, and completely boneheaded. Oh, and it just happens to say what his political masters want to hear. As I see it, this is part of a broader pattern.
Live at Project Syndicate: Politics in the Way of Progress https://www.project-syndicate.org/commentary/populist-politics-block-development-goals-by-j--bradford-delong-2017-10: BERKELEY – There are 17 United Nations Sustainable Development Goals (SDGs), which aim to tackle problems including poverty, hunger, disease, inequality, climate change, ecological degradation, and many others in between. Clearly, 17 is too many. As Frederick the Great supposedly said, “He who defends everything defends nothing.” Similarly, those who emphasize everything emphasize nothing.
This points to the problem of forging goals through consensus: they can end up being a wish list for everything short of heaven on Earth. But, to be effective, goals should operate like turnpikes, which allow you to make progress toward a specific destination much faster than if you had taken the scenic route. The purpose of consensus building, then, should be to get us to the on-ramp, after which it becomes harder to make a wrong turn or reverse course... Read MOAR at Project Syndicate
Let me put a spotlight on the very sharp Brink Lindsey here...
Brink Lindsey believes utopia is in our grasp. Our problems today are, he thinks, at their root problems about the creation of truly human identities that people can embrace.
This is a remarkable shift.
Previous human societies have had very different problems:
It would be nice if I could start off October with another real DeLong smackdown: an incisive critique of a place where my argument has been wrong, or at least pathetically incomplete and one-sided.
But it is not to be: the environment is just too target-rich.
Somebody who wishes me ill sends me a link to Paul Gigot and Gerry Baker's execrable Wall Street Journal, and provokes me into clicking it. It is John Cochrane from Stanford's Hoover Institution: claiming a hypothetical tax rate is 20%, when five minutes' thought gets 42.9% as the true number:
John Cochrane: Tax Consumption Through a VAT, and Voilà https://www.wsj.com/articles/tax-consumption-through-a-vat-and-voila-1504550331: "If the administration and Congress drop the income tax, it won’t be difficult to achieve 3% growth...
Weekend Reading: David Sessions: The Rise of the Thought Leader: "How the superrich have funded a new class of intellectual... https://newrepublic.com/article/143004/rise-thought-leader-how-superrich-funded-new-class-intellectual
Kindly General Lee, meet kindly Comrade Vladimir:
If the dissolution of the Constituent Assembly is not your Kronstadt, there is something profoundly wrong with you
"For a certain kind of leftist hipster or wannabe hipster, not once but whenever he wants it, there is the instant when it's still not yet six o'clock on that October afternoon in 1917...
Pat Garofolo: FLASHBACK: In 1993, GOP Warned That Clinton’s Tax Plan Would ‘Kill Jobs,’ ‘Kill The Current Recovery’: "Republicans... have been apoplectic about Obama’s plan, claiming that it will kill jobs and cripple small businesses... https://thinkprogress.org/flashback-in-1993-gop-warned-that-clintons-tax-plan-would-kill-jobs-kill-the-current-recovery-96adb3663484/
September 27, 2017 at 05:33 PM in Economics: Finance, Economics: Growth, Economics: History, History, Moral Responsibility, Political Economy, Politics, Streams: (Tuesday) Hoisted from Archives, Streams: Cycle, Streams: Economics, Streams: Equitable Growth, Streams: Highlighted | Permalink | Comments (6)
| | |
Should-Read: Republican "Senate Leadership Fund". You never know for whom these things are written, or how much the people writing these things believe them. For what it's worth, my conclusion is that Republicans need to frantically un-gerrymander as many districts as possible as fast as possible:
MEMORANDUM FROM: Steven Law. DATE: .September 26, 2017 SUBJECT: Alabama and the New Republican Primary Battlefield: "Although special elections are notoriously idiosyncratic and difficult to extrapolate from... http://delong.typepad.com/rlc.pdf
Live from the Old New Republic: Alex Pareene, has, I think, gotten it right here...
Alex Pareene: You Are Jonathan Chait's Enemy: "New York’s Jonathan Chait writes today about the 'dangerous consequences' of the left’s use of the label 'white supremacist' to describe Donald Trump, the alt-right, and American conservatism in general... https://splinternews.com/you-are-jonathan-chaits-enemy-1818814301
Supply-Side Amnesia https://www.project-syndicate.org/commentary/republican-tax-cuts-budget-deficit-by-j--bradford-delong-2017-09: In the spring of 1980, Martin Feldstein co-taught (with Olivier Blanchard) the second-best macroeconomics class I ever took. (The best was a class I took from Olivier alone three years later.) From 1982-1984 Martin Feldstein served in Ronald Reagan's cabinet as Chair of the President's Council of Economic Advisers. There he waged an effective if lonely bureaucratic war for the proposition that the size of the Reagan tax cut of 1981 had been a big policy mistake, and that America would suffer if that mistake was not repaired. That position was unpopular inside the Reagan White House: chief-of-staff James Baker tried to get everybody on to the page of delay, in the hope that something would turn up, and avoid the administration having to admit that its signature tax-cutting initiative was, at least in part, a mistake.
On fiscal policy, for my entire adult life, Republicans have fallen into four groups:
The few who care about a smaller government and about properly financing that government now and into the future.
Rather more who want a smaller government and who regard the higher debts and large deficits that result from tax-cutting policies misleadingly sold as not a bug but the feature: once the debt and deficit are created, some Democrats who sincerely believe in budget balancing will come over to the spending cut side.
Those who want to tax cuts and really don't care very much and whether they are good or sustainable policies.
Those who see an opportunity to profit personally by selling misleading rationales for tax cuts.
UPDATE: I wrote a letter apropos of this to Chancellor Carol Christ...
Somehow I do think the New York Times could have put more thought into their questions for the community of the University of California at Berkeley https://www.nytimes.com/interactive/2017/09/19/us/formacist-ucberkeley-callout.html?_r=0.
I think that they could have written better questions, if only they had read the "Terms of Service" they require those of us answering their questions to agree to.
Apropos of Janet Napolitano's : The future of NAFTA and the state of U.S.-Mexico relations: "A forum hosted by the University of California and Tecnológico de Monterrey..." https://www.universityofcalifornia.edu/initiative/uc-mexico-initiative/nafta-conference...
My present thoughts about NAFTA:
Nearly a quarter century ago, early in the Clinton administration, I was one of the leads on the team responsible for constructing estimate of the economic impact of NAFTA. And I definitely have some explaining to do.
Sigh: See what I meant http://www.bradford-delong.com/2017/09/monday-smackdown-smackdown.html about Monday Smackdowns? Such a target-rich environment...
Must-Read: There are, as is always the case these days, a lot of lies in Avik Roy's latest on health care "reform".
But there is one nugget of important truth. Here it is:
Avik Roy: Take Two: Inside Bill Cassidy's Plan To Replace Obamacare: "Because Graham-Cassidy repeals Obamacare’s individual mandate, and the Congressional Budget Office views the individual mandate as driving the majority of Obamacare’s coverage expansion, the CBO is likely to view Graham-Cassidy the same way it has viewed other GOP bills..." https://www.forbes.com/sites/theapothecary/2017/09/17/take-two-inside-bill-cassidys-plan-to-replace-obamacare/#5703ca351181
And now, moving from the twenty-first century back 2500 years to a much earlier age of information technology: John Ma https://twitter.com/Nakhthor/status/908024914011193344—much peace and strength attend him!—reminds me of his "accessible edition of some letters of a member of the Achaimenid elite, the actual satrap of Egypt", Prince Arshama, quite possibly the great-grandson of King of Kings Darayavush I, writing in the late 400s B.C. to various of his subordinates http://arshama.bodleian.ox.ac.uk:
Should-Read: Nancy MacLean: DEMOCRACY IN CHAINS: THE DEEP HISTORY OF THE RADICAL RIGHT'S STEALTH PLAN FOR AMERICA http://amzn.to/2voi3qD: "As 1956 drew to a close, Colgate Whitehead Darden Jr., the president of the University of Virginia, feared...
...second Brown v. Board of Education ruling, calling for the dismantling of segregation in public schools with “all deliberate speed.” In Virginia, outraged state officials responded with legislation to force the closure of any school that planned to comply.... Darden... could barely stand to contemplate the damage.... Even the name of this plan, “massive resistance,” made his gentlemanly Virginia sound like Mississippi. On his desk was a proposal, written by the... chair of the economics department... James McGill Buchanan [who] liked to call himself a Tennessee country boy. But Darden knew better....
Hoisted from Ten Years Ago: After World War I: Weber: Marxism, liberalism, and what we will here call "nationalism"—just to be polite... http://delong.typepad.com/sdj/2007/09/lecture-notes-f.html
We read Norman Angell: We did not read Max Weber: nationalism as social-darwinist doctrine:
Winston S. Churchill: Their Finest Hour http://amzn.to/2eUQZd3: "AFTER THE COLLAPSE of France the question which arose in the minds of all our friends and foes was, 'Would Britain surrender too?'...
...So far as public statements count in the teeth of events, I had in the name of His Majesty’s Government repeatedly declared our resolve to fight on alone. After Dunkirk on June 4 I had used the expression, “if necessary for years, if necessary alone.” This was not inserted without design, and the French Ambassador in London had been instructed the next day to inquire what I actually meant. He was told “exactly what was said.”
Weekend Reading: Dean Acheson: A Historical Document: A Lawyer's Brief for the Mid-Twentieth Century Democratic Party: From Dean Acheson (1955), A Democrat Looks at His Party:
p. 23 ff: From the very beginning the Democratic Party has been broadly based... the party of the many... the urban worker; the backwoods merchant and banker; the small farmer... the large landowners of the South, who saw themselves as being milked by the commercial and financial magnates gathered under Hamilton's banner; the newly arrived immigrants... the party of the underdog.... The many have an important and most relevant characteristic. They have many interests, many points of view, many purposes to accomplish, and a party which represents them will have their many interests, many points of view, and many purposes also. It is this multiplicity of interests which, I submit, is the principal clue in understanding the vitality and endurance of the Democratic Party....
Hoisted from 2013: Apropos of David Glasner http://www.bradford-delong.com/2017/09/should-read-in-which-david-glasner-argues-that-john-maynard-keynes-passed-up-a-very-valuable-opportunity-to-preach-about.html and John Maynard Keynes's:
Now "in the long run" this is probably true.... But this long run is a misleading guide to current affairs. In the long run we are all dead. Economists set themselves too easy, too useless a task if in tempestuous seasons they can only tell us that when the storm is long past the ocean is flat again...
2013: Why Did Keynes Write "In the Long Run We Are All Dead"? Weblogging http://delong.typepad.com/sdj/2013/05/niall-ferguson-is-wrong-to-say-that-he-is-doubly-stupid-why-did-keynes-write-in-the-long-run-we-are-all-dead-weblogging.html: "Niall Ferguson:
September 06, 2017 at 07:57 AM in Economics: Finance, Economics: History, Economics: Macro, History, Moral Responsibility, Philosophy: Moral, Political Economy, Politics, Streams: (Tuesday) Hoisted from Archives, Streams: Cycle, Streams: Economics, Streams: Equitable Growth, Streams: Highlighted | Permalink | Comments (1)
| | |
Project Syndicate: Supply-Side Amnesia: While in the White House, Feldstein waged a persuasive but lonely bureaucratic campaign against the Reagan administration’s 1981 income-tax cuts, arguing that they had been too big, and would prove economically painful if not corrected.... If Feldstein’s warning had been heeded in 1982-84, America would be stronger and happier today. I was thus dismayed at his recent expression of optimism that under today’s Republican-led Congress, “a tax reform serving to increase capital formation and growth will be enacted,” while arguing that “any resulting increase in the budget deficit will be only temporary”... Read MOAR at Project Syndicate
Just look at this:
Kansas is—in some strong sense—unbelievably loony.
No sooner does Sam Brownback manage to plant his behind in the Governor's chair in Topeka, KS than does Kansas's share of American nonfarm jobs and people start to drop like a stone.
If I were you, if I were trying to understand Washington, DC today, I would hold tight to four points:
On Twitter https://twitter.com/de1ong/status/899444987896770561: The hard-working and intelligent Jim Tankersley sends me to:
Reihan Salam https://twitter.com/reihan/status/899428435508043777: "The best 'Why I'm running' statement I've ever read from a GOP candidate": Randy Boyd: Why I'm Running https://randyboyd.com/why-im-running/.
But Boyd is a joke:
Live from the Orange-Haired Baboon Cage: I'm sorry for inflicting these on you. But you really do need to get a flavor of these transcripts if you are to understand the world we now live in, and pieces like this are the quickest way to get that:
Jonathan Chait: Australia’s PM Slowly Realizes Trump Is a Complete Idiot: "Trump in his private negotiations is every bit as mentally limited as he appears to be in public... http://nymag.com/daily/intelligencer/2017/08/australias-pm-slowly-realizes-trump-is-a-complete-idiot.html
Live from "My Kronstadt was the Dissolution of the Constituent Assembly": WTF, Tony Barber?! The "masses" did not "seize the initiative" in 1917. The Bolshevik Faction of the RSDP did. The "masses" were, as Lenin said, vacillating, and needed to be led by the halter and driven by the knout:
Let's give the mic first to Comrade Ulyanov:
Vladimir Lenin: The Constituent Assembly Elections and the Dictatorship of the Proletariat https://www.marxists.org/archive/lenin/works/1919/dec/16.htm: "The Socialist-Revolutionaries and the Mensheviks formed a bloc during the whole period of the revolution from February to October 1917...
Gavin Wright: Review of "Slavery’s Capitalism: A New History of American Economic Development": https://eh.net/book_reviews/slaverys-capitalism-a-new-history-of-american-economic-development/
Stephanie McCurry: Slavery and economics http://www.the-tls.co.uk/articles/private/slavery-economics/
Hoisted from the Archives: More Dred Scott v. Sanford Blogging for 2007's Martin Luther King Jr. Holiday Weekend! http://www.bradford-delong.com/2007/01/more_dred_scott.html: Mark Graber has gotten himself to the right of John C. Calhoun. This is a position painful and ludicrous for a twenty-first-century American legal academic to assume.
It is a position so painful and ludicrous that it should induce any twenty-first-century American academic to undertake an agonizing reappraisal—particularly over Martin Luther King holiday weekend. But Mark Graber doesn't. Let's turn the mike over to him:
August 05, 2017 at 10:27 AM in Berkeley, Economics: History, Economics: Inequality, History, Moral Responsibility, Philosophy: Moral, Political Economy, Politics, Streams: (Tuesday) Hoisted from Archives, Streams: Cycle, Streams: Economics, Streams: Equitable Growth, Streams: Highlighted | Permalink | Comments (0)
| | |
https://www.project-syndicate.org/commentary/universities-in-the-age-of-trump-by-j--bradford-delong-2017-07: Let me take a break in this column from our usual economics to worry about our institutions: What have we to say—to hope and fear—about the role and the future of the independent—ideologically and intellectually—university?
Dean Acheson: A Democrat Looks at His Party: "From Dean G. Acheson: "At the end of the [nineteenth] century there was a lesser, but serious, missed opportunity... http://www.bradford-delong.com/2007/07/dean-acheson-on.html
Let me say that in Taylor's case, at least, this type of bullshit misrepresentation of what we know and what the evidence says has now been going on for a very long time:
I, at least, am as tired of it as are the more senior real economists who are John Taylor's peers.
Why John Taylor thinks he is still entitled to call himself an "economist" is beyond me. It has been beyond me for eight years:
Live from the Orange-Haired Baboon Cage: Josh Marshall asks for theories of Hero McCain. I have three:
After 10 years of being a largely-destructive Republican—most notably in his injection of Sarah Palin into our public sphere—he simply decided: f--- it, it's time to be an American and a senator again.
Roid rage: steroid doses to reduce brain swelling after surgery put him in a temper.
There are fourteen Republican senators—Susan Collins, R-ME, Lisa Murkowski, R-AK, John McCain, R-A, Dean Heller R-NV, Lamar Alexander R-TN, Shelley Moore Capito R-WV, Rob Portman R-OH, Bob Corker R-TN, Tom Cotton R-AK, Lindsey Graham R-SC, Mike Lee R-UT, Jeff Flake R-AZ, Ben Sasse R-NB, Jerry Moran R-KS—plus 50 Republican representatives who would rather that this ObamaCare repeal thing crash. Murkowski and Collins could oppose repeal and strengthen their local political standing. The question was who else would join them—and would it be better to oppose it in a group or to simply put up one of their number so that McConnell could say "I really tried hard", and they decided that it was better for it to barely fail, and then McCain wanted the Mr. Smith role.
Josh Marshall: Taking Stock Of Trumpcare’s Epic Collapse – Talking Points Memo: "I had a very hard time believing the result would be what it turned out to be... http://talkingpointsmemo.com/edblog/taking-stock-of-trumpcares-epic-collapse
Live from the Orange-Haired Baboon Cage: The twelve not completely crazy Republican senators who might be open to some form of not-insane health care legislation over the next fifteen months:
When I read this by David Glasner, I wonder whether the shift in Hayek's beliefs between the 1930s and the 1980s was an improvement. In the 1930s, he believed in big depressions—"secondary deflation"—as a way of breaking "nominal rigidities", which I understand as the power of labor to resist being forced to accept declines in real wage rates. By the 1980s, he seemed to believe in shooting people like me in soccer stadiums, and throwing them out of helicopters into the South Atlantic. See: Pinochet, Augusto
David Glasner: Hayek, Deflation and Nihilism: "Hayek argued that... neutral money was... constant total spending (MV)... https://uneasymoney.com/2017/07/23/hayek-deflation-and-nihilism/
...Once the downturn started to accelerate, causing aggregate spending to decline by 50% between 1929 and 1933, Hayek, totally disregarding his own neutral-money criterion, uttered not a single word in protest of a monetary policy that was in flagrant violation of his own neutral money criterion. On the contrary, Hayek wrote an impassioned defense of the insane gold accumulation policy of the Bank of France, which along with the US Federal Reserve was chiefly responsible for the decline in aggregate spending.... Hayek’s policy advice was... relentlessly pro-deflation. Why did Hayek offer policy advice so blatantly contradicted by his own neutral-money criterion?...
The puzzle about just how and why the brain eater ate Clive Crook's brain—how it was that, starting about a decade ago, one of the most interesting (and intelligent) of the Tories simply lost his grip on reality—remains, to me at least, a mystery.
Here I am hoisting from one of the first full-blown signs of it in 2007.
A little background: By 2008 the brain-eating was overwhelming. For example we had Clive Crook on the "huge success" of the nomination of Sarah Palin—meaning, that is, that she was highly qualified to be Vice President and would attract lots of new votes to the McCain-Palin ticket:
Clive Crook (2008): Democrats must learn some respect: "The problem in my view is less Mr Obama and more the attitudes of the claque of official and unofficial supporters that surrounds him... https://www.theatlantic.com/business/archive/2008/09/democrats-must-learn-some-respect/8803/
July 21, 2017 at 07:38 AM in Economics: Growth, Economics: History, Economics: Inequality, History, Moral Responsibility, Obama Administration, Philosophy: Moral, Political Economy, Politics, Science: Cognitive, Streams: (Tuesday) Hoisted from Archives, Streams: Cycle, Streams: Economics, Streams: Equitable Growth, Streams: Highlighted | Permalink | Comments (1)
| | |
John Maynard Keynes: John Maynard Keynes was brought up a classical liberal and a classical economist. He believed in free trade, economic progress, cultural uplift, and political reason. He then found himself working for the British Treasury during World War I, unable to stop what he thought were disastrous post-World War I political decisions. He then found himself watching as the classical economic mechanisms he had been taught to admire all fell apart.
He then picked himself up.
After World War I Keynes used what power he had to—don't laugh—try to restore civilization.
Hoisted from Ten Years Ago: Europe's Post-World War I Crisis Through the Lens of the Life of John Maynard Keynes http://delong.typepad.com/sdj/2007/09/lecture-notes-f.html?asset_id=6a00e551f08003883400e552211a228833: World War I makes it impossible to be a liberal believer in progress, peace, rationality, equilibrium, the benevolence of the market, the triumph of reasoned discussion, et cetera.
So what do you do?
The answer is "managerialism." Muddling through. Trying desperately to somehow cobble together something like pre-WWI liberalism—to make it true in practice even though it isn't true in theory, and to do so somehow.
The night watchman state that supports the fully-developed market economy is one of the most strange and significant historical development in political economy. Any analysis of it requires that one view hit in perspective—that one examine other the other alternative forms that state power and authority can and do take and have taken.
And the greatest sociologist-political scientist-historian of our age analyzing such things is James C. Scott. I have often wished that I had a reading list on Scott-stuff to hand. And I wish somebody would construct an annotated one:
Here are my thoughts:
Hoisted from the Archives: Yesterday I was bitching to the team at "ParsonsTKO | A Digital Transformation Agency" http://parsonstko.com/, which is in charge of thinking about the redesign of the Equitable Growth Website http://equitablegrowth.org, about not just our failure but the general failure of the internet to bring things from the stock into the flow—to have a memory. The original hope was that Google http://google.com would be that memory, but full-text combined with word-nearness search plus pagerank does not do the job. So I was arguing that Equitable Growth should hire somebody whose job—at least part of whose job—is to ask: what is the thing that Equitable Growth has ever published that is most relevant to live concerns and issues today?; and then repost and highlight that thing. Plus we need an indexing grammar, ontology, whatever, that makes the most relevant thing easy to search for and find.
But I can do this for my own website, myself—if I find time. So here we are: what the country should be doing about ObamaCare right now, hoisted from my archives from 2004:
Reading Reihan Salam's "Why I signed up for Obamacare": The Honest Broker for the Week of May 10, 2014: So this morning I am reading the highly-intelligent Reihan Salam's bill of indictment against ObamaCare... http://delong.typepad.com/delong_long_form/2014/05/reading-reihan-salams-why-i-signed-up-for-obamacare-the-honest-broker-for-the-week-of-may-10-2014.html
July 13, 2017 at 06:18 AM in Economics: Health, Long Form, Moral Responsibility, Political Economy, Politics, Streams: (BiWeekly) Honest Broker, Streams: (Tuesday) Hoisted from Archives, Streams: Cycle, Streams: Economics, Streams: Equitable Growth, Streams: Highlighted | Permalink | Comments (2)
| | |
Hoisted from 2007: My Little Golden Book of Neoconservatism http://www.bradford-delong.com/2007/07/my-little-golde.html: Jeff Weintraub worries that people don't know what neoconservatives are... http://www.bradford-delong.com/2007/07/my-little-golde.html
...Jeff Weintraub: "Neocons," "very liberal Communists," and other scare-words: As Patrick Porter correctly points out, "neocon" (or "neoconservative") is expanding into an all-purpose term of abuse without much concrete content, historical specificity, or political substance.... This increasingly promiscuous use of the increasingly elastic scare-word "neocon" reminds one of the equally promiscuous way many right-wingers used to call anyone they didn't like a "communist."... [T]he word "liberal" often serves a similar function in some right-wing circles ...... though that's not entirely new, either. Back in 1973 Martha Mitchell, the wife of Nixon's Attorney-General John Mitchell, said that her husband often warned against the threat posed by the "very liberal Communists"...
I think I have the answers. Here are what I think are good takes on the neoconservative ideas and their vicissitudes, and on the neoconservatives--my takes and others':
China and Economic Growth: Hoisted from the Archives (What I Am Thinking About Right Now Department) http://www.bradford-delong.com/2007/07/china-and-econo.html: Hoisted from the archives: http://delong.typepad.com/sdj/2006/01/china_and_econo.html: A somewhat different take on Ben Friedman's Moral Consequences of Economic Growth than the review I wrote for Harvard Magazine. Written for Caijing:
Must-Read: I wish to broadly concur with Paul Krugman's judgments here, but I do wish to dissent in part.
I agree that it was very clear over time and even clearer in hindsight that William F. Buckley was no prize: somebody who supports Joe McCarthy's attacks on George C. Marshall as a Chinese Communist spy, uses his position among the first generation of Catholics at Yale to argue for making Jews at Yale as uncomfortable as possible—"preserving the Christian character of the university—plus the racist-terrorist dog whistles of how white southerners could decide to use any means necessary to keep African-Americans down, the not just neo- but plain old fascist worship of Francisco Franco. What do I need to say about him? What do WFB's defenders need to say and do, other than blush in shame, resign from public life, give all they have to the poor, and take up a life of anonymous service to others?
I agree with Krugman that conservative economists were always hopeless ideologues on inequality. And I agree with Krugman that Friedman was more right than wrong, and was very useful to have around.
I have, however, come to differ from Paul on Lucas as it becomes clear that whatever good things he wrote were "in the air" at the time, while the bad things have wrenched macroeconomics off its proper course for what look like generations:
As Paul says, the same broad story holds on the environment and on health care. The generation of Friedman's contemporaries had some good things to say; subsequent generations, much less so; today, economists worth listening to and economists who can work at the AEI without fearing that they will at some point be David Frummed are nearly disjoint sets.
Paul Krugman: When Was The Golden Age Of Conservative Intellectuals?: "Bret Stephens’s... [on] the intellectual decline of conservatism... the modern degeneracy... https://krugman.blogs.nytimes.com/2017/07/09/when-was-the-golden-age-of-conservative-intellectuals/?smid=tw-share&_r=0
Hoisted from 2007: Arnold Kling vs. Brad DeLong on the New Deal http://www.bradford-delong.com/2007/02/arnold_kling_vs.html: UPDATE: Bruce Bartlett writes:
I just read your WSJ piece and you make one mistake. If Hoover had been re-elected in 1932, Ogden Mills would have been Treasury secretary, not Andrew Mellon. Mills became secretary on Feb. 13, 1932.
Fallen to Linkrot: Arnold Kling vs. Brad DeLong on the New Deal at the Wall Street Journal's website.
Here are my first drafts for the exercise:
Introduction to: After Piketty: The Research Program Starting from Thomas Piketty’s Capital in the Twenty-First Century http://delong.typepad.com/2016-08-31-piketty-volume-intro_hb052516.pdf
Thomas Piketty’s Capital in the Twenty-First Century is an astonishing, surprise bestseller.
Its enormous mass audience speaks to the urgency with which so many wish to hear about and participate in the political-economic conversation regarding this Second Gilded Age in which we in the Global North now find ourselves enmeshed.1 C21’s English-language translator Art Goldhammer reports (this volume) that there are now 2.2 million copies of the book scattered around the globe in 30 different languages. Those 2.2 million copies cannot and should not but have an impact. They ought to shift the spirit of the age into another, different channel: post-Piketty, the public-intellectual debate over inequality, economic policy, and equitable growth ought to focus differently. We have assembled our authors and edited their papers to highlight what we, at least, believe economists should study After Piketty as they use the book to trigger more of a focus on what is relevant and important.
I think the answer is "probably". I think he is probably not feigning. I think he probably has no clue of what goes down at the Finland Station.
At the Finland Station, you see, elections are fine only as long as they produce socialist results. When push comes to shove, it is indeed the case at the Finland Station that, as Lenin wrote: "Every direct or indirect attempt to consider the question of the [election] from a formal, legal point of view, within the framework of ordinary bourgeois democracy and disregarding the class struggle and civil war, would be a betrayal..." Sunkar can see this not as the act of "crazed demons", and instead choose—and it is a choice—to see Lenin and company as "well-intentioned people trying to build a better world out of a crisis". But on-the-ground really-existing "ordinary bourgeois democracy" is and always has been of little value to Lenin's flavor of socialists.
Looking Forward to Four Years During Which Most if Not All of America's Potential for Human Progress Is Likely to Be Wasted
With each passing day Donald Trump looks more and more like Silvio Berlusconi: bunga-bunga governance, with a number of unlikely and unforeseen disasters and a major drag on the country--except in states where his policies are neutralized.
Nevertheless, remember: WE ARE WITH HER!
The purpose of this weblog is to be the best possible portal into what I am thinking, what I am reading, what I think about what I am reading, and what other smart people think about what I am reading...
"Bring expertise, bring a willingness to learn, bring good humor, bring a desire to improve the world—and also bring a low tolerance for lies and bullshit..." — Brad DeLong
"I have never subscribed to the notion that someone can unilaterally impose an obligation of confidentiality onto me simply by sending me an unsolicited letter—or an email..." — Patrick Nielsen Hayden
"I can safely say that I have learned more than I ever would have imagined doing this.... I also have a much better sense of how the public views what we do. Every economist should have to sell ideas to the public once in awhile and listen to what they say. There's a lot to learn..." — Mark Thoma
"Tone, engagement, cooperation, taking an interest in what others are saying, how the other commenters are reacting, the overall health of the conversation, and whether you're being a bore..." — Teresa Nielsen Hayden
"With the arrival of Web logging... my invisible college is paradise squared, for an academic at least. Plus, web logging is an excellent procrastination tool.... Plus, every legitimate economist who has worked in government has left swearing to do everything possible to raise the level of debate and to communicate with a mass audience.... Web logging is a promising way to do that..." — Brad DeLong
"Blogs are an outlet for unexpurgated, unreviewed, and occasionally unprofessional musings.... At Chicago, I found that some of my colleagues overestimated the time and effort I put into my blog—which led them to overestimate lost opportunities for scholarship. Other colleagues maintained that they never read blogs—and yet, without fail, they come into my office once every two weeks to talk about a post of mine..." — Daniel Drezner
"I now know it is a rising, not a setting, sun" --Benjamin Franklin, 1787
Scratch | HIGHLIGHTED ONLY | HIGHLIGHTED LIST | THE HONEST BROKER | EQUITABLE GROWTH | RSS FEED | Short Biography | Talks, Presentations, and Events | Edit Posts | Edit Pages | Edit Content | Berkeley Open Access | Subscribe to Grasping Reality's Feed... | Books Worth Reading | Discussions ||||
OTHER STREAMS: Readings and Reviews | DeLong FAQ | The Honest Broker | Ann Marie Marciarille | Across the Wide Missouri... | Liveblogging History | Storify | On Social Media | This.! | Mark Thoma | Paul Krugman | Noah Smith and Steve Randy Waldman | Zeynep Tufekci | Oliver Willis | Marginal Revolution | Cosma Shalizi | Worthwhile Canadian Initiative | Angry Bear | Antonio Fatas |