November 1989 was the most liberating month of arguably the most liberating year in human history, yet two decades later the country that led the Cold War coalition against communism seems less interested than ever in commemorating, let alone processing the lessons from, the collapse of its longtime foe. At a time that fairly cries out for historical perspective about the follies of central planning, Americans are ignoring the fundamental conflict of the postwar world, and instead leapfrogging back to what Steve Forbes describes in this issue as the “Jurassic Park statism” of the 1930s.
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The consensus Year of Revolution for most of our lifetimes has been 1968, with its political assassinations, its Parisian protests, and a youth-culture rebellion that the baby boomers will never tire of telling us about. But as the preeminent modern Central European historian Timothy Garton Ash wrote in a 2008 essay, 1989 “ended communism in Europe, the Soviet empire, the division of Germany, and an ideological and geopolitical struggle…that had shaped world politics for half a century. It was, in its geopolitical results, as big as 1945 or 1914. By comparison, ’68 was a molehill.”
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There is no more reliable rule than the 95 percent rule: 95 percent of what you read about economics and finance is either wrong or irrelevant.
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[T]he most repeated statement about the cause of the U.S. Great Depression is that it was caused by the October 1929 stock market crash. How could that be? By April 1930, the stock market had recovered to its pre-crash level. What is not taught in history books is the Great Depression was caused by a massive government failure. The most important part of that failure were the actions by the Federal Reserve Bank that led to the contraction of the money supply by 25 percent. Then, in the name of saving jobs, Congress enacted the Smoot-Hawley Act in June 1930, which increased U.S. tariffs by more than 50 percent. Other nations retaliated and world trade collapsed. U.S. unemployment rose from 8 percent in 1930 to 25 percent in 1933. In 1932, the Herbert Hoover administration and a Democratic Congress imposed the largest tax increase in U.S. history, raising the top tax rate on income from 25 percent to 63 percent. The Roosevelt administration followed these destructive policies with New Deal legislation that massively regulated the economy and extended the Great Depression to after World War II.
Have today’s politicians and their economic advisers learned anything from yesteryear’s policy that turned what would have been a short, sharp downturn in the economy into a 16-year affair? The answer is very little.
Not only does the liberal paradigm not even come close to agreeing with the social and economic reality on the ground today, worse, it has largely congealed into a political religion, especially in the nearly 30 years since Ronald Reagan shifted the nation’s political center of gravity, just as FDR had done 48 years earlier. Since liberals care about the sheep, all who disagree with liberalism must not, making them morally inferior if not downright immoral. Thus the nastiness in American politics is largely on the left. Whatever you think of Sarah Palin, her treatment in the liberal press was ugliness personified.
“[T]he present Constitution is the standard to which we are to cling. Under its banners, bona fide must we combat our political foes — rejecting all changes but through the channel itself provides for amendments.” –Alexander Hamilton
It seems to me that if you’re going to be in the business of making disastrously bad, ridicule-inviting choices, you need to select people with a long track record of feckless, reckless, irrelevant, crowd-pleasing stupidity on an international scale. People like Jimmy Carter, in other words.
Seriously, couldn’t the committee find a murderous thug who, seeing that his bread might be buttered on the side of temporary peace, recently signed some meaningless treaty? And if they wanted an American, couldn’t they find someone with a solid history of lecturing his countrymen about our moral failings?
What’s missing this year, in other words, is outrage. There’s just nothing to be incensed about. Obama certainly shows plenty of promise of becoming Carteresque, what with looming inflation and a seeming inability to make decisions about the military, but he needs time to stumble into that role. Giving him the award now just makes everyone go “Huh?” And I think what the committee is really looking for is “Ack!”
“[W]e ought to deprecate the hazard attending ardent and susceptible minds, from being too strongly, and too early prepossessed in favor of other political systems, before they are capable of appreciating their own.” –George Washington, letter to the Commissioners of the District of Columbia, 1795
“Liberty cannot be preserved without a general knowledge among the people, who have a right, from the frame of their nature, to knowledge, as their great Creator, who does nothing in vain, has given them understandings, and a desire to know; but besides this, they have a right, an indisputable, unalienable, indefeasible, divine right to that most dreaded and envied kind of knowledge; I mean, of the characters and conduct of their rulers.” –John Adams, Dissertation on the Canon and Feudal Law, 1756
Brian “Head” Welch, Save Me From Myself:
All of the man-made religion crap in this world has to die. Whether it’s Christian man-made religion crap or some other man-made religion crap, it all has to die. It must grieve God’s heart when he sees Christians fighting about whose doctrine is right; he doesn’t see denominations, he sees one big glorious bride. When Christians argue about doctrinal issues, all he sees is carnal people acting like children. All that prideful, controlling religious crap is what drives young people away from churches, and it has to go. Much of the world’s population is under the age of eighteen, and we have to bring the love of Christ to them without all this controlling crap going on. Because, where the spirit of the Lord is, there is freedom.”
The Secret Diary of Steve Jobs:
Will you write on a tablet, or just read from it? Or will you just buy it and put it on your desk and look at it a lot and never use it at all? Or will you maybe carry it around and put on the table in restaurants to show the other humanoids in your tribe that you are more advanced and wealthy than they are, and they should fear you because you have powerful magic that they do not understand? You see what I mean? What is the anthropology here? And what about the ergonomics? Can you mount it on a wall? Will it have a shiny surface so that Macolytes can adore themselves as they use it in public? (Yes. It must.) The tablet must look and feel not like something that was made by man — it must feel otherworldly, as if God himself made it and handed it to you.
I’m so glad Fake Steve came back.
“We lay it down as a fundamental, that laws, to be just, must give a reciprocation of right; that, without this, they are mere arbitrary rules of conduct, founded in force, and not in conscience.” –Thomas Jefferson, Notes on the state of Virginia, 1782