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Category Archives: Politics

Ahistorical pomposity and gnostic sneering: why academics write deep crap about “neoliberalism”

Humanities and social science academics write a remarkable amount of nonsense about “neoliberalism”, typically understanding neither the reasons for the general shift in public policy nor the motivations and ideas behind it. A nice example of such nonsense is provided in a post by philosopher Robin James: neoliberals think everything in the universe works like a […]

Gee, can I be a Guardian pundit?

A US former special ops officer argues that ISIS is just using tactics (via) that al-Qaeda had previously used, which work against Arab forces, but not Western ones: AQI/ISIL quickly learned to never use these tactics on the Americans. They regretted it in 2005 when they carried out a complex multi-prong attack on Abu Ghuraib prison – it […]

On not seeing the Middle East

Two now well-established anti-Israel lines of rhetoric are that the Jewish State is “Nazi-like” (Zionism=Nazism) and the Jewish State is “an apartheid state“. What these lines of rhetoric have in common is that they attack Israel invoking comparisons which resonate in the West and Western political rhetoric, invoking comparisons which have no specific connection to […]

Equalising consumption => lowering vulnerability

A comment on a previous post expresses a common set of views among conservatives: Darwin has the final word on sillyness. If same sex marriage was a useful thing in society, then the vast range of human societies would show us a successful society with same sex marriage as normal. This confuses natural selection with social selection, […]

Modernity struggles: how priests and clerics are unreliable moral guides

Priests and clerics tend to be unreliable moral guides, because their interests are served by complexity and differentiation. Which is not to deny that, for example, Christianity has been a major factor in the distinctive achievement of Western civilisation. The ambivalent civilisation The late Kenneth Minogue argued that (via) the Enlightenment saw a shift among Western intellectuals from belief that […]

Short observations 2

Smartphones slow down the restaurant experience (via). Time constraint means scarcity will always be with us. (That is scarcity in the trade-offs-have-to-be-made sense. Hunger and famine need not always be with us.) *** I find the notion that people without a state cannot have money risible. They may not have their own coins, but coins are merely branded […]

Too big not to fail: the rise and fall of Fannie Mae

The debate over the role (if any) of the Community Reinvestment Act (CRA) in the sub-prime crisis, and thus the Global Financial Crisis (GFC), often seems to be a stand-in for other issues. In particular, to what extent was either financial meltdown the consequences of government regulation (or the lack thereof). The answer to the former question is: almost entirely, […]

The ECB’s dismal performance and the European elections

These two graphs, taken from here, express vividly how much worse the performance of the European Central Bank (ECB) has been compared to the US Federal Reserve (the Fed). Between the two of them, they caused the Great Recession, but the Fed has done much better since. The ECB’s dismal performance also helps explain the recent […]

Small-yet-broad is beautiful (or why it is good to have been British)

The central purpose of Calomiris & Haber’s Fragile by Design: the Political Origins of Banking Crises is to explain to Americans why their banking system does not perform as well as other countries–particularly compared to that of their neighbour, Canada. In chapter 14, the authors put the matter quite starkly: … if a highly stable banking system […]

Arsonists in charge of the fire brigade

A favourite economic justification for state action is to deal with externalities–the effects on people of some action or transaction that they were not willingly a party to.  The problem with this is that the coercive nature of the state makes it a prime creator of externalities: since it has coercive power, it can force consequences […]