Economics, Politics

David Brooks Is Trolling Paul Krugman

David Brooks’ column this morning can best be understood, I think, as a mischievous act of what the Internet calls “trolling.” The column, titled “The Center-Right Moment,” suggests that David Cameron’s electoral victory in the UK provides evidence that voters around the world are rejecting progressive economic arguments.

Perhaps Brooks is unaware that his fellow NY Times columnist Paul Krugman has been arguing for weeks that the Conservatives’ strength in the UK is based, predictably, on the economy having done well over the six months or so before the election? And that this economic improvement is not a vindication of the Conservatives’ austerity policies, but simply a recovery from the unnecessary economic harms caused by austerity? And that no one is pointing all of this out clearly to voters in the UK, so their embrace of the Conservatives cannot be understood as a rejection of arguments against austerity?

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Economics, Politics

Paul Starr on a New Progressive Era

Free Photo: World’s Columbian Exposition, 1893

Paul Starr, the Bancroft and Pulitzer prize-winner historian, has a new article at The American Prospect that addresses some of this blog’s earlier questions about what a new progressive era might look like. The article is titled “How Gilded Ages End.”

I’d recommend reading the entire thing. For my interests, the key passages come toward the end, when Starr concludes that a new progressive era, like the progressive advances of the twentieth century, should center around “three critical domains for curbing oligarchic dominance.” These are: “taxation, the rules of the market, and the rules of politics.”

In a nutshell, reforming the rules of politics makes it possible to reform the rules of the market (which determine wealth before taxes and transfers) and the rules of taxes and transfers (which determine how much wealth everyone ends up with). In turn, reforming the rules of the market and of taxation will help reduce wealth inequality, which will lead to less inequality in political power, which will make reforms of the rules of politics more likely.

Where one starts may depend on political contingencies. But no matter where one starts, the “three domains for curbing oligarchic dominance” should reinforce each other in a virtuous cycle.

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