Comments

2
You are the only person... I was going to make a further distinction, but you are the only person who talks about neoliberalism on a regular basis. Nobody else cares. Much less anybody who reads the Stranger.
3
@2 Actually, I'm loving Charles' recent series of posts on neoliberalism and especially the posts on how economics has really become financial engineering.

America is a land of plenty and I sure as hell am living on its banked wealth instead of busting my ass for endless excess consumption. By traditional measures and against my own socioeconomic peers, I'm underemployed, but I love it. Why work when I don't have to? I sublet my apartment on AirBnB, I trade a little in the stock markets, and I "work" maybe 10 hours a week in real estate. I am living the life that Keynes predicted; a prediction that only Charles is posting about and explaining to me.

So thank you, Charles!
4
Thus far I haven't seen any discussion of retracting Reinhart and Rogoff's paper, something responsible researchers do when their publications contain serious errors and/or fraud.

Retraction probably doesn't happen as often as it should even in relatively unforgiving disciplines like biomedicine because it means a complete loss of legitimacy for the conclusions proffered in the publication.

It will be interesting to see what the field of economics, a much squishier realm that is arguably not any kind of science, does with this disgraceful (but still widely cited) blunder.
6
Wait, Charles, you think actual factual facts drive government policy or news reporting?

Can I interest you in a few shares of my pink unicorn ranch? Only $750 each and going fast, so I suggest you buy at least ten shares today!

I expect neoliberal pro-austerity policy and reportage to continue to be very well-loved within the Beltway, despite this little glitch and all the other evidence that it's a bad idea. See also "school reform," etc.
7
@2 speak for yourself CHZA.
8
I think you give Neo-liberals way too much credit. From an economic standpoint, this battle has been going on between radical economists (on the right) along with their Republican friends versus mainstream economists. It is really hard to find anyone who feels that the U. S. or the U. K. should cut spending right now. The mainstream view is that we should increase spending until interest rates go above zero and unemployment goes way down. Even if the original paper was correct, then it is OK to increase our debt right now (since it isn't close to that magic 90%).

To make matters worse, Obama has done a poor job in expressing his economic strategy. It took Bill Clinton to explain it to the country (and he did a masterful job). In short, we should increase spending right now, then cut spending later. This is the mainstream economic view and the mainstream Democratic view. Unfortunately, Obama has been all to keen to compromise with the Republicans and their radical economic views while doing a very poor job of explaining why the economic strategy is stupid. A very high percentage of people believe that the economy will get better if we decrease our debt. Very few of those people understand basic economic principles, let alone call themselves economists.
9
Notice on the economist site another reason Vancouver is so superior to Seattle: Vancouver International Airport #8 in the world's best airports. If you've ever waited the average 30+ minutes to get your bags or walked the 3+miles to the last gate, you'd certainly agree. Meanwhile Vancouver is efficient and has free wifi and kids playgrounds.

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