Monday, August 16, 2004
There are a lot of things that need responding to this morning:
1) Matt Yglesias and George Will both misunderstand Alexander Hamilton- he was neither a pure mercantilist nor a pure free trader. The "infant industries" argument is that you protect new manufacturing, but once it is competitive you leave it open to (fair) international competition. This is why he favored subsidies over tariffs. Oh, and you always protect industries with military applications- you don't want to rely on another country to produce your tanks. But there is a cottage industry misunderstanding Hamilton, so why should I be surprised?
2) The Washington Post continues its march to the right again today. They seem to believe that the only thing wrong with the Bush tax cuts are the deficits they create- everything would be great if only he would cut spending! Except we should increase social investment spending. And tort reform is a big problem. What is wrong with these people? When did they drink the conservative kool-aid (you know, Jim Jones)?
3) Yet another election forecasting model that overestimates the role of economics in elections, and only GDP and inflation numbers at that. Bush is NOT going to win by 58%. Didn't they learn in 2000?
4) Joel Rogers at the Nation has a great article about the importance of liberal organization at the state and local level. I've posted on this issue myself, and I am glad that others are thinking along the same lines.
One more thing. I am going to Italy for two weeks, so my posting will be intermittent, particularly this week. But I do hope to be able to comment on European reaction to the U.S. politics.