Sunday, January 16, 2011

QOTD: When zombies win

Quote of the Day:
When historians look back at 2008-10, what will puzzle them most, I believe, is the strange triumph of failed ideas. Free-market fundamentalists have been wrong about everything — yet they now dominate the political scene more thoroughly than ever.

How did that happen? How, after runaway banks brought the economy to its knees, did we end up with Ron Paul, who says “I don’t think we need regulators,” about to take over a key House panel overseeing the Fed? How, after the experiences of the Clinton and Bush administrations — the first raised taxes and presided over spectacular job growth; the second cut taxes and presided over anemic growth even before the crisis — did we end up with bipartisan agreement on even more tax cuts? ...

But such failures don’t seem to matter. To borrow the title of a recent book by the Australian economist John Quiggin on doctrines that the crisis should have killed but didn’t, we’re still — perhaps more than ever — ruled by “zombie economics.” Why?

Part of the answer, surely, is that people who should have been trying to slay zombie ideas have tried to compromise with them instead. And this is especially, though not only, true of the president.

People tend to forget that Ronald Reagan often gave ground on policy substance — most notably, he ended up enacting multiple tax increases. But he never wavered on ideas, never backed down from the position that his ideology was right and his opponents were wrong.

President Obama, by contrast, has consistently tried to reach across the aisle by lending cover to right-wing myths. He has praised Reagan for restoring American dynamism (when was the last time you heard a Republican praising F.D.R.?), adopted G.O.P. rhetoric about the need for the government to tighten its belt even in the face of recession, offered symbolic freezes on spending and federal wages.

None of this stopped the right from denouncing him as a socialist. But it helped empower bad ideas, in ways that can do quite immediate harm. Right now Mr. Obama is hailing the tax-cut deal as a boost to the economy — but Republicans are already talking about spending cuts that would offset any positive effects from the deal. And how effectively can he oppose these demands, when he himself has embraced the rhetoric of belt-tightening?

Yes, politics is the art of the possible. We all understand the need to deal with one’s political enemies. But it’s one thing to make deals to advance your goals; it’s another to open the door to zombie ideas. When you do that, the zombies end up eating your brain — and quite possibly your economy too. - Paul Krugman


Anonymous said...

Forget ballet-boy Ron Reagan, Jr. and his libelous book about his legendary Dad, instead read a BANNED book like “America Deceived II” by E.A. Blayre III.
Last link (before Google Books bans it also]:

Chimeradave said...

Here is a Republican/Zombie idea of compromise in song form.

WCG said...

That anonymous comment is just spam. I thought about deleting it, since it was clear he hadn't even read my Quote of the Day, but I finally decided to leave it.

His so-called "banned" book is available on, along with the earlier volume, too. So much for censorship. According to the comments - and to the excerpt I read - it's incredibly poorly written. But hey, if bad writing was a crime, I'd be doing this from jail, huh?

If it happens again, I won't be so lenient. But I can hardly complain about bizarre ranting, now, can I? :)

And John, I'm not sure what you're saying with that video clip. That's about "real" zombies, the eat-your-brain kind. But maybe that's the whole point about zombie ideas, that never seem to die.

You can't reason with a zombie. They just refuse to listen. And they seem to infect others, too. But I don't think we really need to avoid them. After all, they won't eat your brain unless you let them do it.

Would zombies be such a threat if it were all voluntary? I guess we'll see...

Chimeradave said...

I guess I was just saying that even though Obama is trying to become the great compromiser I still feel like we are going to get our brains eaten