Bill Keller, on shouting down the economists with the life-saving answers

November 30, 2011

Economists know how to fix the U.S. economy.  But according to Bill Keller at the New York Times, they’re being shouted down.

So for the past several weeks my airplane and bedside reading has consisted of sexy documents like “A Roadmap for America’s Future” and “The Way Forward” and “The Moment of Truth” and “Restoring America’s Future” and “Living Within Our Means and Investing in the Future.” I’ve also reached out to a few economists respected for the integrity of their science and their patience with economic illiterates.

The first thing I gleaned from this little tutorial will probably not surprise you: There really is a textbook way to fix our current mess. Short-term stimulus works to help an economy recover from a recession. Some kinds of stimulus pay off more quickly than others. Once the economic heart is pumping again, we need to get our deficits under control. The way to do that is a balance of spending cuts, increased tax revenues and entitlement reforms. There is room to argue about the proportions and the timing, and small differences can produce large consequences, but the basic formula is not only common sense, it is mainstream economic science, tested many times in the real world.

So what’s the problem? Why is our system so fundamentally stuck? Partly it’s a colossal, bipartisan lack of the political courage required to tell people what they sort of know but don’t want to hear. Partly it’s a Republican Party that, for its own cynical reasons, wants no deal with this president. Partly it’s moneyed, focused lobbies that swarm in defense of specific advantages written into the law; there is no comparable lobby for compromise, let alone sacrifice.

Is reasoned discourse such that much a lost art in America today?  Keller extends his point to cover several areas of discussion — President Obama’s birthplace, global warming and what to do about it, vaccines, etc.  He could as easily have added whether Rachel Carson murdered more people than Mao Zedong, cures for our education woes, and the designated hitter rule.

In the land of the blind, the one-eyed man has value; but in the land of the knee-walking turkeys the one-eyed man is just one more roost to crap on.

What is a rational person to do?


Birthday of Twain and Churchill: Happy Whiskey and Cigar Day!

November 30, 2011

Mark Twain, afloat

November 30 is the birthday of Mark Twain (1835), and Winston Churchill (1874).

Twain had a comment on the Texas Education Agency and State Board of Education:

In the first place God made idiots. This was for practice. Then He made School Boards.

– Following the Equator; Pudd’nhead Wilson’s New Calendar

The Nobel literature committees were slow; Twain did not win a Nobel in Literature; he died in 1910. Churchill did win, in 1953.

Both men were aficionados of good whiskey and good cigars. Both men suffered from depression in old age.

Both men made a living writing, early in their careers as newspaper correspondents. One waged wars of a kind the other campaigned against. Both were sustained by their hope for the human race, against overwhelming evidence that such hope was sadly misplaced.

churchill-time-cover-man-of-the-year-1941.jpg

Both endured fantastic failures that would have killed other people, andboth rebounded.

Each possessed a great facility with words, and wit, and frequently said or wrote things that people like to remember and repeat again.

Both of them rank near the top of the list of people to whom almost any quote will be attributed if the quote is witty and the speaker can’t remember, or doesn’t know, who actually said it.

Both men are worth study. And wouldn’t you really love to have had them over to dinner?

Twain, on prisons versus education:

Every time you stop a school, you will have to build a jail. What you gain at one end you lose at the other. It’s like feeding a dog on his own tail. It won’t fatten the dog.” – Speech, November 23, 1900

Churchill on the evil men and nations do:

“No One Would Do Such Things”

“So now the Admiralty wireless whispers through the ether to the tall masts of ships, and captains pace their decks absorbed in thought. It is nothing. It is less than nothing. It is too foolish, too fantastic to be thought of in the twentieth century. Or is it fire and murder leaping out of the darkness at our throats, torpedoes ripping the bellies of half-awakened ships, a sunrise on a vanished naval supremacy, and an island well-guarded hitherto, at last defenceless? No, it is nothing. No one would do such things. Civilization has climbed above such perils. The interdependence of nations in trade and traffic, the sense of public law, the Hague Convention, Liberal principles, the Labour Party, high finance, Christian charity, common sense have rendered such nightmares impossible. Are you quite sure? It would be a pity to be wrong. Such a mistake could only be made once—once for all.”

—1923, recalling the possibility of war between France and Germany after the Agadir Crisis of 1911, in The World Crisis,vol. 1, 1911-1914, pp. 48-49.

Image of Twain aboard ship – origin unknown. Image of Winston S. Churchill, Time Magazine’s Man of the Year for 1941, copyright 1941 by Time Magazine.

More on Mark Twain

More on Winston Churchill

Orson Welles, with Dick Cavett, on Churchill, his wit, humor and grace (tip of the old scrub brush to the Churchill Centre):

Yeah, mostly this is an encore post from past years.


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