Category Archives: Media Criticism

Business, Economics, Education, Media Criticism, Political Commentary

What Ended The Depression

5 Comments

Megan McArdle says (correctly) that no one knows, and anyone who tells you that they do is lying or fooling themselves, but that what you were taught in school is almost certainly wrong. She also notes (again correctly) that there was a lot more to the New Deal than simply government spending (which likely didn’t have much stimulative effect), some of it good, much of it disastrous (particularly the artificial propping up of wages and prices by fiat).

One can’t run controlled experiments in economics, so we can never know for sure, but I’m inclined to at least go with economic theories that make sense and for which there is useful empirical evidence. Someone has to tell me what Hayek and von Mises got wrong to persuade me that Keynes is right. And most people who think that Keynes is right haven’t even read them.

[Update a few minutes later]

“Mr. Obama, give back my wallet.”

[Update a while later]

OK, so I’m not as impressed with David Brooks as the intelligentsia want me to be, but he does have some good thoughts occasionally:

The correct position is the one held by self-loathing intellectuals, like Isaiah Berlin, Edmund Burke, James Madison, Michael Oakeshott and others. These were pointy heads who understood the limits of what pointy heads can know. The phrase for this outlook is epistemological modesty, which would make a fine vanity license plate.

The idea is that the world is too complex for us to know, and therefore policies should be designed that take account of our ignorance.

What the world needs now is not love sweet love, but epistemological modesty. Particularly inside the Beltway. Unfortunately, the perverse nature of humanity is that often the less one knows about something, the more certain one is in his knowledge. They have never learned from the ancient Greeks that to admit the limits of your knowledge is the beginning of wisdom.

[Via Manzi, who reads David Brooks so I don’t have to]

[Late morning update]

Are we going to emulate Japan’s lost decade? It seems to be what they want to do, unfortunately.

[Bumped]

[Update a couple minutes later]

Renters are angry. They should be. They’ll probably join the tea party, too.

And here’s a novel concept: let housing prices find their clearing price. Can’t do that — it makes too much sense.

Business, Economics, Media Criticism, Political Commentary

Shameless

Here’s a good round up of the corruption and collusion between Congress and the financial industry:

While Americans were asked to foot the bill—for generations—to bail out Wall Street executives from their sub-prime, mortgage-mad, derivatives driven, un-regulated market—politicians from all parties lined up to feed at the trough—knowing full well that it was these same companies’ bad business practices that placed our financial system at systemic risk.

Sen. Christopher Dodd, who is being paid by taxpayers to oversee these institutions, should return the money on principle or resign from the committee.

Don’t hold your breath.

Media Criticism, Political Commentary, Science And Society

Fighting The False “Consensus”

9 Comments

Frank Tipler on the tendency of the global warm-mongers to argue from authority rather than from the science:

…why did Halsey believe the meteorologists against the evidence of his own eyes? The report of the Board of Inquiry on the disaster answers that question. Halsey simply accepted the authority of his chief meteorologist, against his own experience. The report listed the “qualifications of this “expert” — his degrees, the numerous courses on climate studies he had taken, his years flying over hurricanes. But in contrast to Bryson’s successful forecasts, two of which I have described above, not one correct forecast was mentioned by the Court of Inquiry! I find this extraordinary. Imagine picking an admiral on the basis of the prestige of an officer’s education. Halsey himself had two famous victories, the Battle of Guadalcanal and the Battle of Leyte Gulf. I admire Halsey immensely, but he was wrong to give any weight at all to mere academic credentials, rather than performance credentials like his own. For true scientists, one knows the achievements, not the academic credentials. Albert Einstein discovered relativity (everyone knows E = mc2), he discovered the photon, and he discovered gravitational waves. But where did Einstein go to school? Who cares?

Not me.

Media Criticism, Political Commentary

Here’s What I Mean By “Misleading And Deceitful”

41 Comments

From today’s Journal:

In a passage from his 2006 book, “The Audacity of Hope,” he sounds like a Republican complaining about the stimulus. “Genuine bipartisanship,” he wrote, “assumes an honest process of give-and-take, and that the quality of the compromise is measured by how well it serves some agreed-upon goal, whether better schools or lower deficits. This in turn assumes that the majority will be constrained — by an exacting press corps and ultimately an informed electorate — to negotiate in good faith.

“If these conditions do not hold — if nobody outside Washington is really paying attention to the substance of the bill, if the true costs . . . are buried in phony accounting and understated by a trillion dollars or so — the majority party can begin every negotiation by asking for 100% of what it wants, go on to concede 10%, and then accuse any member of the minority party who fails to support this ‘compromise’ of being ‘obstructionist.’

“For the minority party in such circumstances, ‘bipartisanship’ comes to mean getting chronically steamrolled, although individual senators may enjoy certain political rewards by consistently going along with the majority and hence gaining a reputation for being ‘moderate’ or ‘centrist.'”

Sound familiar?

The hypocrisy kind of makes me sick. As do the people who remain willfully blind to it. Because he’s going to bring “hope.” And “change.”

[Update early afternoon]

A steady stream of whoppers.

Business, Economics, Media Criticism, Political Commentary

Why The New Deal Didn’t Work

22 Comments

This is an important point:

The New Deal prolonged the Great Depression because of not one but a combination of misguided policies that made it harder for employers to create jobs and harder for consumers to buy things. Keynesian commentators talk as if FDR made a single key mistake, like not incurring big enough budget deficits. This ignores the tripling of the tax burden during the New Deal period (1933-1940). Also ignored is the fact that New Deal spending was mainly paid for by the middle class and the poor, because the biggest revenue generator for the federal government was the excise tax on beer, cigarettes, chewing gum, and other cheap pleasures disproportionately enjoyed by the middle class and the poor. Moreover, several New Deal laws made everything — especially food — more expensive when Americans desperately needed bargains.

There’s a lot more.

Notions that the New Deal didn’t work because they didn’t do enough of it (particularly based on the absurd notion that the war was “the New Deal on steroids” which was why it did) are just the kind of rewriting of history that I was talking about.

[Update on Tuesday morning]

There are few things I enjoy more than dealing with history-challenged simpletons who stupidly assume that because one doesn’t accept the gospel that FDR Saved Us From The Breadlines, that one must therefore think that Herbert Hoover was (in the parlance of the times) the cats pajamas, and that if we’d only stuck with his (non-existent) laissez-faire policies, all would have been well with the world. Larry Kudlow had a guest on his show who made this idiotic assumption last week, when he talked about Larry’s “hero,” Herbert Hoover. Kudlow quickly put him in his place (as I did here with my own idiot in comments). It’s the same (or at least related) pigheaded mindlessness and false choice that causes people to foolishly assume that because I’m down on Democrats I must be a Republican.

[Update a couple minutes later]

Michael Barone, on the real lessons of the Great Depression. Of course, those pushing “stimuli” don’t want to learn the real lessons, because it would remove much of the justification for their efforts to grow government and take over more and more of our lives as individuals.

[Bumped to Tuesday morning]

Media Criticism, Political Commentary, Satire

A Trip To The Museum

52 Comments

We went over to the Holocaust Museum today. I’d never been, but never had much desire to — I’d read my fill of that history years ago. It’s not so much that I found it disturbing as simply a waste of time that I could spend looking at museums in which I was more interested. But Patricia wanted to, and one of the reasons that I love her is that she did, and so we did. As I expected, there was little unexpected for me in the permanent exhibit on the upper floors, but in the basement is space for temporary exhibits. One that opened a couple weeks ago (ten days after the White House had a new occupant, though I’m sure that was just a coincidence) was on Nazi propaganda. Now that, I found disturbing.

This is the image that greets you at the beginning of the display.

The placard that accompanied it said that one of the elements of convincing propaganda, to appeal to the masses, is a powerful image combined with a simple message. It helps even more, apparently, if it is done in the style of socialist realism, like this.

Farther on in the display, it discussed how Goebbels and the other Nazi propagandists were enamored of new communications technologies, using the gramophone as an example. If they were operating now, they would no doubt be fascinated by Web 2.0.

A few steps later, I came across the following striking quote, by a woman in Germany who had attended one of Hitler’s rallies:

How many look up to him with touching faith! As their helper, their saviour, their deliverer from unbearable distress…

I was so relieved that I live almost eighty years later, and that our society had grown beyond that kind of primitive thinking — that the president is responsible for the personal well-being of every citizen, and every sparrow that falls in America, like a demigod. I mean, obviously, any responsible leader today, confronted with such idolatry would use it as a teachable moment about the nature of our Republic, rather than basking in the worship, as Hitler did, to gather more raw unchecked political power unto himself.

I also found interesting the description of how the Nazi authorities encouraged and organized public rituals, ceremonies, meetings and other public events. I could see how this kind of activity might solidify public support behind otherwise less politically palatable notions felt important by the state.

Of course, one of the most disturbing tactics, used not only by the National Socialists, but also the fascistic international socialists in the Soviet Union, was the continual rewriting of history to glorify the state, and make it out to be the victim of past failures and treachery, and misguided policies. Some of the examples they gave were almost as though modern leaders were continually talking, fantastically, about how we got into our current economic problems through deregulation and tax cuts, and (non-existent) laissez-faire policies, rather than overspending and overregulation, and continuing government interference in the free market, often at the behest of corporations.

Finally, during the war, one of the hallmarks of the Nazi regime was to control the flow of information to the German citizenry. I hadn’t realized that they actually built specialized radios whose sensitivity was so weak that they could only pick up German government signals, but generally not overseas views (such as the BBC). They viewed clandestine listeners to foreign broadcasts as traitors to the state, undermining the war effort. I’m certainly glad we live in a nation where such attitudes would be odious, to both Congress and the President.

All in all, it was a relief to leave the museum, and walk back across the mall toward the White House, secure in the knowledge that such things could never occur here.

[Update a while later]

We’re all fascists now (part II).

And try to figure out which chapter of the story we’re in.

[President’s Day update]

The administration is no longer issuing denials on the Fairness Doctrine. I guess when the campaign did it last summer, it was, you know, “just words” to get elected.

But I’m sure they mean well. They just have to keep their options open in case some people don’t follow the leader’s sage advice to “not listen to Rush.”

[Update a few minutes later]

What I find fascinating is how the BDS-afflicted had to doctor the photos of President Bush to push their conception of him as a fascist dictator, yet the Obama promoters did it to him with no apparent sense of the irony of what they were doing.

These folks seem to have had their sense of irony excised at birth.