by Tyler Cowen
on November 12, 2010 at 12:22 pm
1. Will the Republicans cut a budget deal, from Steve Teles?
2. Does the Flynn effect hold across all IQ levels?
3. Ender's Game movie trailer.
4. Porpoises rescue Dick van Dyke.
5. Was British colonialism good for India?
Eh, that trailer is great quality, but it's only a fan-made piece…
The trailer seems pretty generic – "our world has faced no greater threat…" "something about this boy…" and then there is the music…
#1 — So, the Republican base is made up of "intensely paranoid" people who support an "extreme litmus test" on their elected officials, and therefore the Republicans will pass absolutely nothing for 2 years, so they can get re-elected in 2012?
This is what passes for analysis at Johns Hopkins, huh?
Weapons-grade stupidity, here.
Indians might not have been able to build their railways without the British, because probably no one would have been able to build railways without the British. They invented the railway. They also provided the financing for a good part of the railway construction worldwide in in the nineteenth century. They built the railways in South America, for example.
As the South America example indicates, it might not have been necessary for India to be ruled by British officials or indirectly by British advisors in order to get their railways. There is also the argument that they were close to an industrial revolution on their own.
As we get farther from the days of the Raj, I think people will see the British as one of many foreign conquerers of India, who brought their exotic customs to the country and changed it in some way. This chain goes all the way back to the Greeks. The English language will probably turn out to be their most significant contribution.
Nationalism itself is a European (actually French) invention, that was exported around the world with European nineteenth century colonialism. Otherwise we wouldn't be calling British rule good or bad, it would just be something that happened.
There will be no deals. It's not due to strategy or insanity. There are no deals.
Tyler summed it up nicely when he said that our system can't work in contraction. But that doesn't mean it is avoidable.
Yes, the movie trailer appears to be nice bit of fan creation. I could identify pretty readily bits from Starship Troopers and <AI Artificial Intelligence. Also, thought one segment came from Soldier.
Why do people erase Clinton being elected by the Tea Party defeating HW Bush. And then Clinton taking the Tea Party seriously on the debt and deficit and working to balance the budget structurally in 93, then losing Congress when the Tea Party joined with Republicans because they wanted budget balance with no sacrifice.
It took Republicans two years to erase 8 years of Clinton reducing deficit and debt and leaving office with a budget that would have produced a better economy, zero or low deficit, and no Tea Party movement talking about the deficit.
Can anyone point to a time Republicans actually purposely acted to reduce the deficit in the past century?
I like how you intimated that the Tea Party is just an extension of the movement that started under Clinton. It was assuaged after Clinton and the Republicans changed course and were bailed out by an economy under the influence of irrational exuberance.
But why do people keep conflating The Tea Party with Republicans. The Tea Party is a smackdown to Republicans as much, if not moreso than the Democrats. Democrats can't be accused of hypocrisy. They are a rudderless ship being co-opted by neo-cons (who isn't these days) but from the demand side they are a repudiation of everyone from the last 20 years. Under Clinton/Greenspan we just weren't aware how bad things were under the surface. Bush laid it bare and Obama poured salt in it.
It's an awakening and it also trips me out when people seem to be saying "not that many are waking up yet." Maybe, but that's not the point, is it? Many may even go back to sleep. You better hope so.
There's reason to believe that the US economy is a systematic fraud.
We get occasional giant accounting scandals. There is an argument each time that the scandal should have been suppressed so that investors will maintain their trust in the stock market. Presumably the vast majority of accounting fraud is not reported.
Do businesses provide the IRS with accurate data, on the assumption that the IRS might discover lies and punish them severely? Maybe. Does the IRS data get used by other parts of the government for business statistics etc? No.
How can government do much useful to regulate an economy, when most of the financial accounting is lies?
US corporations have a culture of financial fraud. What can we do about that?
I have a plan. But it's kind of radical and it won't get followed anyway, so I won't bother to present it in this comment.
Dude, you try that plan and the chinese are going to eat your lunch.
Just now, the way businesses particularly succeed is to pretend that you're competing based on productivity etc, but really just buy stuff from china and resell it here. Then cook the books to make it look like you're doing exceptionally well so stock prices go up. Then management and owners make out like bandits.
This works out as long as the company is actually making enough to pay the taxes etc. But the more you claim to grow, the more money you need to actually make, and that creates a crisis. So let the stock price drop, and announce that you will prosper by working smarter, and lay off a bunch of workers — who were kind of window-dressing anyway. If all goes well the stock price swings right back up and you plus the owners make out like bandits.
But the more people you lay off the harder it is to keep the squirrel-wheel running that pays current expenses. You might get loans or government grants etc, but at some point it's time to gather whatever money is available for a few last bonuses and then fold up. With luck you won't get investigated for fraud. If not, you can retire.
How can you hope to compete with that approach, using hard work by Americans? If you want to do something that involves honest work, wouldn't you do better to take it to the Philippines? Lots of people who speak english, and prices are much lower.
"Can anyone point to a time Republicans actually purposely acted to reduce the deficit in the past century?"
W. had the deficit down to 160 bil. in 2007, but if you're realy asking about the debt, that would be 1957. Also a Republican, Ike was the last president of either party to reduce the debt.
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