tag:blogger.com,1999:blog-6926413038778731189.post7043870601042213017..comments2023-10-16T07:13:12.123-05:00Comments on A plain blog about politics: Yes, Hack Liberal Economists Still MissingJonathan Bernsteinhttp://www.blogger.com/profile/15931039630306253241noreply@blogger.comBlogger8125tag:blogger.com,1999:blog-6926413038778731189.post-46384271505838002592011-03-07T12:40:53.451-06:002011-03-07T12:40:53.451-06:00"Do you suppose that between the left and the..."Do you suppose that between the left and the right there could be an honesty gap?"<br /><br />I think a conservative (like me!) would suggest that it's because the current economic situation isn't very spinnable.Chris Bowyerhttps://www.blogger.com/profile/04961200181633668853noreply@blogger.comtag:blogger.com,1999:blog-6926413038778731189.post-70357145034136374152011-03-05T12:52:19.930-06:002011-03-05T12:52:19.930-06:00Actually, jazzbumpa, it is a false dichotomy. Both...Actually, jazzbumpa, it is a false dichotomy. Both could be true, but both could be false as well.<br /><br />It's possible I'm just working from a different understanding of what makes up a hack. I tend to think of hacks as engaging in sloppy thinking and willing to say anything to advance their particular agenda. In some cases, that could be careerism (carving out a niche in the pundit / economist market) or intellectual laziness rather than hackery. Particulary if being a hack necessitates carrying water for the major players in a political party.<br /><br />Galbraith, in my opinion, is prone to sloppiness in service of his progressive agenda (moreso than a specifically Democratic one). I don't think it's bad faith, per se; but his arguments seem reverse engineered to fit his preferred conclusions. And this is coming from someone who basically agrees with a lot of Galbraith's policy prescriptions... right conclusions, wrong inputs.Some Guynoreply@blogger.comtag:blogger.com,1999:blog-6926413038778731189.post-76811193596790781812011-03-04T21:39:29.982-06:002011-03-04T21:39:29.982-06:00I agree with Jazzbumpa about Galbraith, who clearl...I agree with Jazzbumpa about Galbraith, who clearly is not a liberal hack; right or wrong, he's hardly someone who toes the administration's line.<br /><br />But I'm afraid I'll have to agree with Anon about Jazzbumpa -- sorry, like the comments, but I'm not a big fan of the epithets.Jonathan Bernsteinhttps://www.blogger.com/profile/15931039630306253241noreply@blogger.comtag:blogger.com,1999:blog-6926413038778731189.post-82982206357916640522011-03-04T19:10:15.591-06:002011-03-04T19:10:15.591-06:00Galbraith has been consistently to the left of the...Galbraith has been consistently to the left of the Obama administration's economic policies. The only movement conservative I remember criticizing Bush on economic policy was Stephen Moore arguing that Mankiw shouldn't be hired to the CEA because he called supply-siders charlatans and cranks.Aidannoreply@blogger.comtag:blogger.com,1999:blog-6926413038778731189.post-51498828653656601222011-03-04T17:38:48.538-06:002011-03-04T17:38:48.538-06:00Jazzbumpa is clearly a hack, does that count?Jazzbumpa is clearly a hack, does that count?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-6926413038778731189.post-71261009208524445862011-03-04T17:34:23.268-06:002011-03-04T17:34:23.268-06:00Shorter Guy:
I disagree with Galbraith, ergo, he ...Shorter Guy:<br /><br />I disagree with Galbraith, ergo, he is a hack.<br /><br />And it's no false dichotomy. In fact, Galbraith's possibilities aren't even mutually exclusive. They could both even be right. <br /><br />The thing that's false here is Guy's assessment of Galbraith.Jazzbumpahttps://www.blogger.com/profile/07337490817307473659noreply@blogger.comtag:blogger.com,1999:blog-6926413038778731189.post-29412193556482164182011-03-04T16:39:28.693-06:002011-03-04T16:39:28.693-06:00I thought Galbraith sounded pretty hackish when he...I thought Galbraith sounded pretty hackish when he told Ezra Klein that the danger posed by the LONG TERM deficit is zero (see link). <br /><br />He has slightly plausible reasons why the risk of long term deficits is zero. On the decline in interest rates last year: "So there are two possibilities here. One is the theory [that the increase in the deficit will cause an increase in interest rates] is wrong. The other is that the market isn't rational. And if the market isn't rational, there's no point in designing policy to accommodate the markets because you can't accommodate an irrational entity."<br /><br />This argument is pretty slick in a the-Laffer-Curve-means-tax-cuts-are-all-and-only-good sort of way. I think the market is mostly rational--and hence policy accommodation makes sense--but bad at long term projections due to uncertainty. Also, the time horizon for market participants is shorter than the amount of time until we'll feel the effects of the risks posed by the long term deficit. In other words, Galbraith, hackishly in my opinion, provides a false dichotomy to argue for his preferred conclusion.Some Guyhttp://voices.washingtonpost.com/ezra-klein/2010/05/galbraith_the_danger_posed_by.htmlnoreply@blogger.comtag:blogger.com,1999:blog-6926413038778731189.post-1065279944616064412011-03-04T16:09:21.494-06:002011-03-04T16:09:21.494-06:00I think it's remarkable that you think it'...I think it's remarkable that you think it's remarkable that nominally liberal economists are not spinning in a hackish way.<br /><br />Do you suppose that between the left and the right there could be an honesty gap?<br /><br />Fact is, there is barely enough job growth to accommodate new entries to the job market, let alone aproach any kind of prosperity. <br /><br />Unemployment among 25 yr-olds was over 19% a year ago. Even if that number has improved, we are still in a world of hurt.<br /><br />With Rethug austerianism the order of the day, I see no reason for even the slightest optimism.<br />I doesn't take much cynicism to see this as part of their campaign to make Obama fail.<br /><br />Twenty months until the election.<br /><br />JzBJazzbumpahttps://www.blogger.com/profile/07337490817307473659noreply@blogger.com