Niall Ferguson & Gideon Rachman on ‘Sleepy Joe’. Political Observer comments

In his column of Sunday March 8, 2020, Niall Ferguson:


Headline: Sleepy Joe Biden has given Donald Trump a wake-up call


Sub-headline: Despite his senior moments, the comeback codger has a real shot

I know Joe Biden. Not well, but well enough to have had a good chat when we ran into one another at the Irish embassy in Washington on St Patrick’s Day last year. I must also confess to rather liking Biden. In 2015 I argued that he would win if he ran the next year. He would certainly have been a more engaging candidate than Hillary Clinton, especially in those key states — Michigan, Pennsylvania and Wisconsin — that carried Donald Trump to the White House.

A veteran professional politician of the homely, Irish-American, middle-class, press-the-flesh variety, Biden overcame personal tragedy (the 1972 car accident that killed his first wife and daughter and seriously injured his two sons) to become the reassuringly conventional vice-president to Barack Obama — not only the first black president but just 47 when elected. Because, folks, Biden is exactly what central casting used to think a US president should look like.


https://www.thetimes.co.uk/edition/comment/sleepy-joe-biden-has-given-donald-trump-a-wake-up-call-h65l7x7sq


In an essay that eventually devolves into near seriocomic tones, Mr. Ferguson offers more than a collection of speculations, hypotheticals , taken to the point of the preposterous. In its place Ferguson offers some political analysis, that the reader can evaluate. While, like most of his supporters, fails to address the Biden’s glaringly obvious cognitive deficit, to put it blandly.  In the Neo-Liberal World ‘Sleepy Joe’ is the last best hope against the populist menace Sanders! While the contest within the Democratic Party is yet to be decided. 

Compare Ferguson’s analysis, with its undertone of near contempt, to Mr. Rachman’s sweeping cast of characters , framing his essay :

a Harvard professor, Gerald Ford, Many Europeans, Barack Obama, coronavirus-induced recession, leading foreign-policy thinkers, Kurt Campbell and Jake Sullivan, Those in the Middle East and Europe, Syria , Afghanistan,  Tehran, Oval Office, Department of Justice,  “make American moral again”, realpolitik, Mr Modi’s rule, Reactionary nationalists, China, Russia, Brazil, India, Turkey and Saudi Arabia.

The tentative nature of the present contest between Biden and Sanders, yet to be decided, renders Mr. Rachman’s descriptions of an imminent politics, and its various possibilities , not to speak of the large cast of political actors, as mere highfalutin garnish. That passes as adroit political analysis? Or is it a hybrid of hybrid’s like Capote’s Non-Fiction Novel? 

Let me speculate about a political scenario : what happens when candidate Biden , in a debate with Trump, experiences the confusion of a man, unable to articulate a rational argument, to one of Trump’s challenges? Or, could this moment occur in a debate between Sanders and Biden? when the viewers will see, with stunning clarity, the cognitive impairment of Biden? The current mythology is that Biden overcame a stutter, and these lapses are just a nagging re-occurrence. Yet there is video evidence that renders this claim dubious, to say the least.

Political Observer

https://www.ft.com/content/23b174a0-61e6-11ea-b3f3-fe4680ea68b5

 

 

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Corporate Barracuda Sheryl Sandberg’s unconvincing whining! ‘Lean In’? Old Socialist comments Old Socialist …






So on International Women’s Day, who better to ask what is going wrong than Sheryl Sandberg, the guru of female work empowerment, the woman who encouraged millions of us to Lean In, and COO of Facebook, the world’s most powerful company.

“The reason we don’t have as many female leaders is down to likeability,” Sandberg says. “The data shows conclusively that as men get more successful they are better liked by women and men — but as women get more successful they are less liked by both.”

Sandberg may speak softly, a tiny package cosily wrapped in an overlarge peach cashmere jumper, red jeans and brown cowboy boots (she has just got engaged to a father-of-three who is taking her to country concerts), but make no mistake, she is as tough as chuck steak.

https://www.thetimes.co.uk/article/b706b0f8-5e0d-11ea-8f5d-5d06dfa1e7b9

Old Socialist 

P. S. The protege of  Larry Summers! 

 

 

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janan.ganesh@ft.com on Joe Biden, manufactured Hero. Political Observer

In the imagined ‘Centrist World’ Mr. Biden is the latest manufactured Hero. Except that the notion of that ‘Centrism’, under the myopic gaze of an apologist for that mythical political construct, is in fact the tattered remains of a collapsed Neo-Liberalism, and its panicked acolytes.

For a more carefully calibrated  political apologetic, couched in Biblical hyperbole, for Biden, see Mr. Luce’s essay:

Headline:  The stunning resurrection of Joe Biden

Sub-headline: His Lazarus-like re-emergence gives the Democratic party a new mantra: ‘decency’

https://www.ft.com/content/eaeb4b50-5dc1-11ea-b0ab-339c2307bcd4


Mr. Biden’s ‘fabulist tendencies’, a more genteel descriptor than the word lies, are flooding the internet, these small video clips don’t need any help from Trump! they are the collective evidence of ,not just bad faith, but of self-aggrandizing lies: that awful but apt word …
Here is a quotation from Mr. Ganesh’s essay that demonstrate his talent for deliberate misreading:

Being creatures of narrative, my profession inferred from the shocks of 2016 — Mr Trump’s victory and the vote for Brexit — a lasting crisis for the global centre. Contrary events, such as the election of President Emmanuel Macron in France, or the US midterm elections, did not dissuade us. Perhaps the only thing that ever would is the elevation of a pre-2016 retread, a lion of the Senate Foreign Relations Committee in the globalised heyday, to the world’s grandest office.

One of the ‘contrary events’ to the Trump victory and Brexit is the election of Macron! According to CNN, the number of ‘Abstentions’ and ‘White ballots’ or spoiled ballots in the final round of voting:

Abstentions: 11,416,454 

White or spoiled ballots : 4,045,395 

The total: 15,461,849 

Macron’s final vote : 20,257,167

Le Pen final vote: 10,584,646

https://www.cnn.com/2017/05/08/europe/french-voters-spoiled-ballots-abstained/index.html

These numbers are indicative of the the fact that Macron is what? The product of a fractured French politics?  The General Strike is unreported in Corporate Media, the only place to get news of this strike is on twitter, and other social media. The video of police beating, and maiming protesters, or attacking protesting Fireman is proof that a Rebellion against the ‘Liberalism’, ‘Centrism’, or in plain speaking, the Neo-Liberalism of the ideological enarque Macron. This Rebellion is the political juggernaut that will end Macron’s burning ambition, to lead a slowly fracturing European Super-State.  

Mr. Ganesh’s  description of Biden is ludicrous, if not just flatfootedly comic : ‘… a lion of the Senate Foreign Relations Committee…’.

Trump has a talent for puerile insult, which he will use against Biden’s ‘cognitive deficit’, and his history of lying. This prefigures disaster for the New Democrats and their journalistic allies.

Political Observer

https://www.ft.com/content/c1b57790-5dff-11ea-b0ab-339c2307bcd4

 

 

 

 

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George Soros sponsored Ukrainian Anti-Semites! Old Socialist comments

George Soros, one of the most notorious Ukrainian Coup co-conspirators , he sponsored Right Sector & Svoboda, not to speak of the eventual rise of the Azov Battalion, as the Ukrainian National Guard, is morally/politically bankrupt! Soros sponsored notorious Anti-Semites!The political strategy of  the mythologizer is to point away from their own  culpability, by way of the presented prima facie guilt of the identified culprit.   

Headline:Leaked: George Soros ‘Puppet Master’ Behind Ukrainian Regime, Trails Of Corruption Revealed

Sub-headline: Hacked emails also reveal Soros’ machinations with the US Government and the officials of the European Union in a scheme where, if he succeeds, he could win billions in the plunder of Ukraine assets. All, of course, would be at the expense of Ukrainian citizens and of EU taxpayers.

Leaked: George Soros ‘Puppet Master’ Behind Ukrainian Regime, Trails Of Corruption Revealed

 

Its ‘as if’ Mr. Soros relies on the political amnesia of his readership. The Financial Times,  has strategically blocked the comments section, of his latest public moralizing  about ‘Putin’s war crimes’!  

Headline: Europe must stand with Turkey over Putin’s war crimes in Syria

Sub-headline: Focusing on the refugee crisis Russia has created addresses symptoms not the cause

 



Old Socialist

 

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edward.luce@ft.com on Joe Biden’s “decency”, “dignity”, and “empathy”. Old Socialist comments

The cognitive decline of Biden is obvious, As is his horrid record:the Crime Bill among the legal monuments to his respectable bourgeois racism. “decency”. “dignity” and “empathy” are the trinity of virtues that Biden exercises, possesses? The New Democrats, and Mr. Luce, want to stop a dangerous Left-Wing Social Democrat, using the hysterical epithet Populist. Which will continue the utterly failed Clinton/Obama Neo-Liberalism. What does the future hold? We cannot know. What is dependable is that the Neo-Liberals will defend their failed Social/Political Engineering, with their war against ‘Populism’. With the help of Pundits like Mr. Luce and his newspaper!
Regards,
StephenKMackSD
P.S. Its is being speculated that Obama is/was ‘masterminding’ the ‘resurrection’ of Joe.

https://www.ft.com/content/eaeb4b50-5dc1-11ea-b0ab-339c2307bcd4

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@TheEconomist is of two minds? Political Observer speculates.

Compare and contrast two Economist essays:

Under the rubric:

‘America’s nightmare’

Headline: Bernie Sanders, nominee

Sub-headline: The senator from Vermont would present America with a terrible choice

‘Sometimes people wake from a bad dream only to discover that they are still asleep and that the nightmare goes on. This is the prospect facing America if, as seems increasingly likely, the Democrats nominate Bernie Sanders as the person to rouse America from President Donald Trump’s first term. Mr Sanders won the primary in New Hampshire, almost won in Iowa, trounced his rivals in Nevada and is polling well in South Carolina. Come Super Tuesday next week, in which 14 states including California and Texas allot delegates, he could amass a large enough lead to make himself almost impossible to catch.

Moderate Democrats worry that nominating Mr Sanders would cost them the election. This newspaper worries that forcing Americans to decide between him and Mr Trump would result in an appalling choice with no good outcome. It will surprise nobody that we disagree with a self-described democratic socialist over economics, but that is just the start. Because Mr Sanders is so convinced that he is morally right, he has a dangerous tendency to put ends before means. And, in a country where Mr Trump has whipped up politics into a frenzy of loathing, Mr Sanders’s election would feed the hatred.

https://www.economist.com/leaders/2020/02/27/bernie-sanders-nominee

This is just the first two paragraphs of an essay devoted to Anti-Sanders invective. Published on February 27, 2020. What might be the motives of the editors of this ‘newspaper’ be? This publication, even in the Age of Facebook, Twitter and a host of internet ‘news’ and ‘opinion’ sites- its very select readership will find this essay reflective of their politics and economics. How great is the ‘reach’ of this publication? which is not just ‘Conservative’, but ‘Reactionary’ in the truest sense. Given this context,  a Left-Wing Social Democrat is as good as a Marxist!

A sample of the pronouncements of the editors, is not just instructive:

On economics Mr Sanders is misunderstood. He is not a cuddly Scandinavian social democrat who would let companies do their thing and then tax them to build a better world.

On trade, Mr Sanders is at least as hostile to open markets as Mr Trump is. He seeks to double government spending, without being able to show how he would pay for it.

In putting ends before means, Mr Sanders displays the intolerance of a Righteous Man.

A sensible ecologist would tax fracking for the greenhouse gases it produces. To Mr Sanders that smacks of a dirty compromise: he would ban it outright.

Sometimes even the ends are sacrificed to Mr Sanders’s need to be righteous.

So keenly does Mr Sanders fight his wicked rivals at home, that he often sympathises with their enemies abroad.

The party’s leftist activists find his revolution thrilling. They have always believed that their man would triumph if only the neoliberal Democratic Party elite would stop keeping him down.

https://www.economist.com/leaders/2020/02/27/bernie-sanders-nominee

On February 29, 2020 The Economist publishes this essay:

Under the rubric That Berning feeling’

Headline: What does Bernie Sanders’s political revolution hope to accomplish?

Sub-headline: The senator for Vermont is a European social democrat—of a 1970s vintage

Ambitious, exhilarated and a little nervous, a freshly elected Democratic congressman was buzzing with the possibilities of his new office when he first encountered Bernie Sanders. “You do realise this place is a complete waste of time, don’t you?” growled the independent senator from Vermont, by way of welcome to Capitol Hill. And, to be fair to Mr Sanders—and to the millions of Americans who set such great store by his integrity and plain speaking—he could not have summed up his own legislative history better. Mr Sanders has grumbled persistently about real problems—a broken health-care system and inequitable college education above all—while rarely making any headway in fixing them. During 30 years in Congress he has been primary sponsor of just seven bills that became law, two of which concerned the renaming of post offices in Vermont. An uncharitable observer might consider this the record of a blowhard.

Mr Sanders has taken his preference for speechifying to the big time. With only momentary interruptions, he has spent five years campaigning to be president—ever since he decided to play spoiler to Hillary Clinton’s coronation. America’s most famous socialist is running for the presidency on more or less the same set of problems he has emphasised for all those many years (plus a more recent focus on climate change). Though his proffered solutions, in the form of fantastical reforms and vast spending pledges, look ruinously expensive and unlikely to pass Congress, a committed faction of Democratic voters like them enough to have made Mr Sanders the indisputable front-runner. A candidate could scarcely have hoped for better results in the all-important early-primary states. Betting markets give him a 60% chance of winning the nomination. If he does well on March 3rd, Super Tuesday, when 14 states vote and one-third of delegates will be allocated, he will be uncatchable.

https://www.economist.com/united-states/2020/02/29/what-does-bernie-sanderss-political-revolution-hope-to-accomplish?fsrc=scn/tw/te/bl/ed/thatberningfeelingwhatdoesberniesandersspoliticalrevolutionhopetoaccomplishunitedstates

The reader might just wonder who this ‘Ambitious ,exhilarated and a little nervous, a freshly elected Democratic congressman was buzzing with the possibilities of his new office when he first encountered Bernie Sanders.’ is? The anonymous source, even if invented,  is the sometime, but utterly reliable ‘source’. The Economist never lets anything go to waste. The February 27, 2020 polemical essay, has been re-written, or is that re-imagined, with a bit more journalistic substance , not to mention polish, but still alive, still vibrant with invective. This latest iteration demands patience on the readers part, it becomes a lengthy, even tedious indictment of Sanders, in sum, a courtroom melodrama.

Political Observer

 

 

 

 

 

 

 

 

 

 

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The seemingly invincible Andy Divine pronounces on Sanders, as if it were holy writ. While Sarah Jones offers the ‘Super Delegates’ as the potential usurpers of the Sanders Insurgency. Old Socialist comments

Mr. Divine leaves aside his usual political hysteria, in favor of an invidious comparison of Sanders with Jeremy Corbyn. Eliding from his narrative that Corbyn lost that election by not supporting Brexit, to engage in reductivism. Such was Corbyn’s political miscalculation. Mr. Divine resorts to an utterly weak sarcasm, that loses its rhetorical force, the further the reader goes in the body of his polemic.

Headline: Bernie Sanders the American Version of Jeremy Corbyn? Gulp.

With Bernie Sanders’s relentless rise, the specter of Jeremy Corbyn now hangs over the Democratic race. At times, it’s uncanny how similar the two left-populist leaders are. An outlier long at odds with his party’s establishment? Check. A legislator with decades of voting who has almost no legislation to call his own? Yep. A 70-something beloved by 20-somethings? Check. An insurgent movement with cultish overtones that took over the party from more moderate figures? Yes. A more left-wing platform than any in his party’s history? Uh-huh. A man with many, many embarrassing connections in the past with hard-left figures across the globe? Oh yeah. Someone who hasn’t changed his mind on almost anything since the 1970s? Pretty much. Some highly unsavory hangers-on and followers? To put it mildly.

https://nymag.com/intelligencer/2020/02/is-bernie-sanders-the-american-version-of-jeremy-corbyn.html

A bit further in his essay Mr. Divine offers this observation on Sanders:

And yet I worry. Watching Sanders in the South Carolina debate, he became aggressive, shouty, and angry. His visceral hatred of actual billionaires like Mike Bloomberg — and not just the system that creates billionaires — was striking to me. He’s all but incapable of nuance. I remember my own interaction with him on the Bill Maher show, where I begged him to consider at least that there might be a middle ground between clobbering the pharmaceutical companies’ profits and encouraging research and development in the private sector. He wouldn’t. The profit motive in health care was evil, even if it had saved and extended countless lives.

To conclude his essay, the reader is grateful of reaching its end, Mr. Divine further describes his ‘worry’. His annoying paternalism is ever-present:

So yes, I worry, given the huge stakes in November. I much prefer Bernie to Corbyn, but the closer you look, the more parallels you can see. What has happened to the Labour Party these past few years has a striking resemblance to what has happened to the Democrats. And in Britain, even when left populism really did strike a chord, as it did in 2017, and even when it faced a far less impressive politician than Trump in Theresa May, it was never enough to actually, you know, win.

https://nymag.com/intelligencer/2020/02/is-bernie-sanders-the-american-version-of-jeremy-corbyn.html

Compare Mr. Divine’s hectoring with what Sarah Jones offers in her insightful essay about Sanders and the Democratic Party:

Headline: Who’s Afraid of Bernie Sanders?

Senator Bernie Sanders has a long road to travel before he becomes the Democratic Party’s nominee for president. But he’s inching closer with each primary result, and most polls predict a strong showing for the Vermont senator on March 3 (a.k.a. Super Tuesday), when a large number of states hold their primaries. Some people, predictably, are freaking out about the prospect of momentum for Sanders. The primary is so crowded that top candidates, including Sanders, have been unable to open up a gap between them and the rest of the field. Even if he does well on Super Tuesday, it’s possible that Sanders could reach the convention with a plurality of delegates, rather than an outright majority. In this scenario, Sanders would not be able to claim the nomination on the first ballot, for which voting is restricted to delegates won during the primaries and caucuses. And in this scenario, some centrists see an opportunity.

On the second ballot, Democratic superdelegates — party members who are permanent delegates and thus not assigned by primaries or caucuses — will be allowed to cast a vote, and dozens of them told the New York Times that they are prepared to try to deny Sanders the nomination if convention voting goes to a second round. The tactic carries with it the stench of desperation, and if carried out, superdelegates could mortally wound a party they claim to want to save. The gap between the average Sanders voter and the average party official looks as wide as it’s ever been.

https://nymag.com/intelligencer/2020/02/bernie-sanders-superdelegates-and-the-contested-convention.html?utm_source=tw&utm_campaign=nym&utm_medium=s1

To quash the Sanders Insurgency the ‘Super Delegates’ will be used, after the first ballot, to deny the nomination to Sanders. A ‘deadlocked convention’ is the pretext that will enable the Clinton Coterie, to quash that insurgency by undemocratic/extra-democratic  means. Mr. Divine pursues his invidious comparison of Corbyn/Sanders, while missing, or more pointedly eliding that potential political melodrama, from his and his readers conceptual grasp. The Corbyn comparison offers a potential reason why Mr. Divine would make the rhetorical thrust of the Corbyn comparison the primary propaganda choice.

Old Socialist

 

 

 

 

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@nytdavidbrooks, @GarettJones, @TheEconomist consider The Populist Menace: Bernie Sanders, in various keys. Old Socialist comments

What to say about David Brooks’ latest Anti-Sanders political hysterics? Not a surprise coming from a nearly recovering Neo-Con, who has discovered ‘The Second Mountain’ ? The New Democrats, and their current political allies the Neo-Cons, are under threat from the Sanders Insurgency, from within the Democratic Party. The New Democrats have lost control of a large portion of its membership. The why of that is of no interest to Brooks.

His potted political history of American Liberalism is so selective as to constitute self-serving propaganda: his specialty is describing a political landscape: the territory looks familiar, yet is altered to serve his purposes of moment.
Mr. Brooks in his rapturous description of ‘Liberalism’ has missed this history of his hobbyhorse:

Note how Brooks first describes F.D.R.

There was a period around 1936 or 1937 when Roosevelt was trying to pack the Supreme Court and turning into the sort of arrogant majoritarian strongman the founders feared. But this is not how F.D.R. won the presidency, passed the New Deal, beat back the socialists of his time or led the nation during World War II. F.D.R. did not think America was a force for ill in world affairs.

Is  the political evolution of F.D.R. relevant to the political present? Yes, if only he evolves from an almost arrogant majoritarian strongman, into a ‘Liberal‘ as described  by Brooks.

The last three paragraphs of his essay point to the ‘corrosive populists of both right and left’, yet the Centrists, the advocates/apologists for Neo-Liberalism, and America’s Wars of Empire, escape Brooks’ critical gaze! Perhaps, because he is an integral part of that coterie

There is a specter haunting the world — corrosive populisms of right and left. These populisms grow out of real problems but are the wrong answers to them. For the past century, liberal Democrats from F.D.R. to Barack Obama knew how to beat back threats from the populist left. They knew how to defend the legitimacy of our system, even while reforming it.

Judging by the last few debates, none of the current candidates remember those arguments or know how to rebut a populist to their left.

I’ll cast my lot with democratic liberalism. The system needs reform. But I just can’t pull the lever for either of the two populisms threatening to tear it down.

https://www.nytimes.com/2020/02/27/opinion/bernie-sanders.html?action=click&module=Opinion&pgtype=Homepage

To use Barack Obama as the most current leader of Liberalism-should the evidence of Obama as unflagging supporter of TPP, even in the waning days of his administration, be indicative of Liberalism or Neo-Liberalism?

Compare Brooks’ polemic to this Book Review in The Economist that essentially fights the same battle against political irrationalism, born of the Neo-Liberal Swindle’s collapse, in a more ‘reasoned’ key? If more obliquely. ‘The Centrists’ are replaced by the equally nebulous ‘The Elites‘.

Headline: Why an excess of democracy can lead to poor decisions

Sub-headline: Cutting back on people power can be beneficial, thinks Garett Jones

https://www.economist.com/books-and-arts/2020/02/13/why-an-excess-of-democracy-can-lead-to-poor-decisions

The title of Mr. Jones’ book gives the game away! ‘10% Less Democracy: Why You Should Trust Elites A Little More and the Masses A Little Less. ‘The Posh Boys and Girls’ at The Economist show a bit of restraint, after the defeat of Corbyn – although these editors were capable of political hysteria, as this testifies:

What better defender of an ‘incremental trust’ in ‘The Elites’, than a graduate of Brigham Young University, and former economic adviser to Sen. Orrin Hatch? The wisdom of the elites from my vantage point, of almost 75 years, tells me that Mr. Jones is an ideologue of the political Right, seeking to squelch The Populist Menace . This makes Mr. Jones a fellow traveler of Mr. Brooks. Although Mr. Jones presents arguments in another key, the commonality is almost self-evident.

With the publication of ‘Liberalism at Large:The World According to the Economist’ by Alexander Zevin :

Has proven that The Economist is a ‘newspaper’ whose loyalty is to Capitalism and its economic/political Elite.

The Economist reviewer presents Jones as the victim of the ‘hostile reaction’ of not just students to his defence of Elites but a widening circle of critics. That reaction convinces Jones that he has a potential book, given the negative reaction.   The Economist’s interpolations on the themes of Mr. Jones

This is a fertile time for critiques of democracy. In light of the use of state apparatus by elected leaders to undermine an opponent in America, murder people in the Philippines, render a religious minority stateless in India, threaten judicial independence in Poland, and rob the public purse in South Africa, the system which has long provided the rich world with a satisfying mix of moral superiority and stable government is looking a bit ropy. A report last month from the Centre for the Future of Democracy at Cambridge University found that support for democracy had declined sharply in most of the world since the 1990s, including in America and western and southern Europe. The world’s biggest autocracy, meanwhile, is bringing prosperity to its own population and extending its influence round the world.

But as Mr Jones discovered, criticising democracy in the West is still a bit like launching a broadside against the pope in 15th-century Europe—or against a modern-day authoritarian president. You can suggest that all is not going to plan, but you will get a friendlier reception if you pin the blame on dodgy advisers or foreign interference, rather than on the concept itself.

Mr. Jones, as presented in this ‘review’, believes in a maladroit economic reductionism to describe politics.

By contrast, Mr Jones plants responsibility squarely on the shoulders of the voters. As an economist, he approaches democracy as a production system whose output is governance, and examines how it can be tweaked to improve the product. The core of “10% Less Democracy” is thus research on whether more or less democracy produces better or worse outcomes for countries and citizens.

Mr. Jones’ 10% resembles a more current expression of The Founders and their checks against too much democracy, in the Electoral College and the bicameral legislature. Or  more contemporary thinkers like Walter Lippmann, whose faith in ‘technocrats’ , experts,  as a necessary check against too much democracy. Yet the contemporary ‘technocrats’ expertise have proven to be not just misbegotten but catastrophic.

The writers at The Economist, in these two paragraphs, first celebrate the ‘insights’ of Mr. Jones, and then face the fact, that his polemic suffers from the drawbacks of his maladroit use of this perennial literary genre.

Mr Jones musters plenty of convincing evidence that fewer elections and more distance between voters and decisions make for better governance. But he stretches the argument for limiting democracy far beyond that observation. He is attracted by the idea of “epistocracy”, or rule by clever people; he advocates giving an official role in decision-making to bondholders, who already constrain governments’ freedom by raising the costs of lending to badly managed countries.

These arguments expose the flaw at the centre of this interesting and enjoyable book. Mr Jones looks at democracy as an economic system. But for most people, democracy’s moral component is also essential. It is an expression of the belief that everybody is equal in the sight of God or the presence of the ballot box, and that a country’s people should have power over their government. Less democracy may mean more sensible outcomes, but it also means less legitimacy.

https://www.economist.com/books-and-arts/2020/02/13/why-an-excess-of-democracy-can-lead-to-poor-decisions

Brooks, Jones and The Economist’s writers all warn the reader of the dangers of ‘political irrationalism’ : Brooks inveighs against the unhinged populism of Sanders, Mr. Jones against ‘too much democracy’ and  offers the haven of a lesser incremental trust in ‘Elites’ , the Economist writers ‘review’ Jones’ book, as part of using argument to make the case against the phantom, that has its roots in the failed social/political engineering of Neo-Liberalism.

Old Socialist

 

 

 

 

 

 

 

 

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Raghuram Rajan ‘reviews’ Thomas Piketty’s new book, ‘Capital and Ideology’ in The Financial Times. Old Socialist comments

Who better than Raghuram Rajan, formerly of the  Reserve Bank of India, and The University of Chicago Booth School to ‘review’ Piketty’s latest book.  Rajan a contemporary iteration of a ‘Chicago Boy’? The record of Chicago Boys and Bankers is/are well established! Not to speak of record of The Financial Times.

In the world view of the defenders of ‘Capital’ , any critique of that, what to call it?, the inexorable frame of the whole of human existence on Earth? is in need of an antidote to even the slightest expression of critical apostasy.

Compare the short review of Piketty’s Capital in 2014 in The Economist:

Headline: Thomas Piketty’s “Capital”, summarised in four paragraphs

Sub-headline: A very brief summary of “Capital in the Twenty-First Century”

It is the economics book that took the world by storm. Capital in the Twenty-First Century, written by the French economist Thomas Piketty, was published in French in 2013 and in English in March 2014. The English version quickly became an unlikely bestseller, and it prompted a broad and energetic debate on the book’s subject: the outlook for global inequality. Some reckon it heralds or may itself cause a pronounced shift in the focus of economic policy, toward distributional questions. The Economist hailed Professor Piketty as “the modern Marx” (Karl, that is). But what is his book all about?

https://www.economist.com/the-economist-explains/2014/05/04/thomas-pikettys-capital-summarised-in-four-paragraphs

In the ‘Book Club’ section of The Economist, R.A., in London, provided a chapter by chapter ‘Reading’ of ‘Capital’:

https://www.economist.com/free-exchange/2014/03/13/reading-capital-chapter-1

https://www.economist.com/free-exchange/2014/03/20/reading-capital-chapter-2

https://www.economist.com/free-exchange/2014/03/27/reading-capital-chapters-3-and-4

https://www.economist.com/free-exchange/2014/04/04/reading-capital-chapters-5-and-6

https://www.economist.com/free-exchange/2014/04/11/reading-capital-chapters-7-8-and-9

https://www.economist.com/free-exchange/2014/04/17/reading-capital-chapters-10-11-and-12

https://www.economist.com/free-exchange/2014/04/25/reading-capital-part-4-conclusion-and-recap

I printed a copy of each of the parts of The Economist’s ‘Reading’ of ‘Capital’, and still have it next to my computer, as I write. What would drive the editors of this publication to write an ideologically freighted ‘review’ summery in four paragraphs, call this an utterly reductive caricature, even polemic, and then publish an extensive ‘Reading’ subsequent to that, which consisted in a chapter by chapter presentation on Capital?

The reader is assured by  Mr. Rajan that Piketty’s new book, in its English translation, is over 1,000 pages long. It appears, that that thousand pages has been granted approximately 1,787 words of reply, from Mr. Rajan. The Economist in its ‘Reading’ at the least treated Piketty, as if he were worthy of a substantive evaluation/critique. Even after their insulting four paragraph polemic, calculated to appeal to their reactionary readership!

Should the Neo-Liberals, who were the authors of the 2008 Market Collapse, and its issue ‘The Gig Economy’- the Chicago Boys coterie, who exported that Economic/Political poison to Chile, remain unquestioned for their catastrophic ideological toxicity. Mr. Rajan, in this review, acts as a surrogate of those misbegotten ‘technocrats’.

Old Socialist

https://www.ft.com/content/5a393b5a-4f23-11ea-95a0-43d18ec715f5

 

 

 

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Niall Ferguson & Edward Luce on Michael Bloomberg. Old Socialist comments

Compare Mr. Luce’s ‘political wisdom’, or should it be properly named a collection of reportorial, rhetorical cliches, a product of lazy thinking, that could have been written in haste? to that of Niall Ferguson’s essay of Sunday 23, 2020:

https://www.thetimes.co.uk/past-six-days/2020-02-23/comment/michael-bloomberg-leads-in-cash-but-trails-in-charisma-hvjd33zxm

Mr. Ferguson is an admiring  ‘friend ‘ of Bloomberg and offers some insight into his political calculation, that are in fact Ferguson’s own:

So long as Sanders does not collect a majority of delegates by the time of the convention (in Milwaukee, Wisconsin, in mid-July), Bloomberg can hope that the Democratic Party elite will hand it to him, not only to stop Sanders but also to channel all that lovely money to the races for the Senate and House held on the same day as the presidential election.

The second reason is simple: that caustic wit of Bloomberg’s — so effective on Wall Street — does not work well in the political arena. Mike, seriously: no one outside New York ever says: “What am I, chicken liver?”

In the end, politics — even in the United States — is about more than money. It’s about mass communication. It’s about charisma. And, to judge by Bloomberg’s miserable performance as a punchbag in last week’s debate (watched, unfortunately for him, by a record 19.7 million viewers), those things cannot be bought.

Mr. Ferguson’s essay is then a prescriptive rhetorical, political meander, with a coda that tells his ‘friend’ the news, that money can’t buy what he wants to purchase.

Mr.Luce’s strategy, in his essay, differs from the panic of the Neo-Liberals and Neo-Conservatives: his essay is not Chris Matthews’ unhinged intervention comparing Sanders win in Nevada to the ‘Fall Of France’ on MSNBC, nor the political anguish of  rabid Neo-Conservative Jennifer Rubin. Mr. Luce places the ‘blame’ on Bloomberg as if this rhetorical sleight of hand, call it a political diversion, in service to the Neo-Liberal/New Democratic candidates subject to the Sanders Juggernaut.

Mr. Luce then engages in the sure fire resort of Corporate Media pundits, with the utterly dependable ‘horse race’ of American Politics:

There are two other striking similarities with Mr Trump. The first is that mainstream Republicans kept reassuring themselves that Mr Trump had a ceiling of support — he never seemed to get much above 30 per cent. The same applies to Mr Sanders. They underestimated the advantage of Mr Trump’s solid floor, which other candidates lacked. The same absence of core support applies to Mr Sanders’ rivals. Pete Buttigieg came equal first in Iowa and second place in New Hampshire. Polls show he would be lucky to make fourth place next weekend in South Carolina. The same applies to his Super Tuesday prospects. Joe Biden came fourth and fifth respectively in the first two contests. Even if he wins South Carolina, he is probably too deeply wounded to regain his mojo. Elizabeth Warren had a strong debate in Las Vegas on Wednesday. But she directed most of her ire at Mr Bloomberg. Her real rival is Mr Sanders. While the former New York mayor remains in the race, the rest of the field cannot afford to ignore him.

Cliche follows cliche, in the above paragraph, followed in the next paragraph with the obligatory appearance of Putin: The New Cold War is an article of faith of both the Neo-Liberal and Neo-Conservative coteries , a reference point for the loyalists to political conformity. Not to ignore Mr. Luce’s  final paragraph, suffused with what can only be called ‘magical thinking’ , that demonstrates a kind of exhaustion of rational thought in favor of what?

Old Socialist

https://www.ft.com/content/446000f6-55cd-11ea-abe5-8e03987b7b20

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My reply to : Wenren

Thank you for your comment. I Just finished reading ‘At The Origins of Neo-Liberalism : The Free Economy And The Strong State, 1930-1947’ by Ben Jackson of Oxford University. And published in The Historical Journal ,53, I (2010) pp. 129-151 that I downloaded from JSTOR :

https://www.jstor.org/stable/25643886?Search=yes&resultItemClick=true&searchText=at&searchText=the&searchText=origins&searchText=of&searchText=neo-liberalism&searchUri=%2Faction%2FdoBasicSearch%3FQuery%3Dat%2Bthe%2Borigins%2Bof%2Bneo-liberalism%2B%26amp%3Bfilter%3D&ab_segments=0%2Fbasic_SYC-4946%2Fcontrol&refreqid=search%3Afb360e631acb58faaf2c3dc5864f19fe&seq=1#metadata_info_tab_contents

Thinking and writing presents certifiable problems, except that the notion of reactions:  ‘that’s quieter than a Wuhan mall.’ , which partakes of a contemporaneous hipster mentality- what really matters in writing polemic is to use the tools of discourse, laced with invective, as part of the tool-chest, in its various iterations, to open up a conversations, or just to subvert and inflame. My model is Karl Kraus refracted through many texts, that began with ‘Wittgenstein’s Vienna’ in 1976.

Regards,

StephenKMackSD

 

 

 

 

 

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