You are currently browsing the tag archive for the ‘ideology’ tag.

It continues to intrigue me — the biblical point Obama raised in his inauguration speech on putting away childish things.

He seems to mean things like partisanship and political gamesmanship and their attendant ills, with self-righteousness and ideological rigor mortis being two of the biggest.

But those things are decidedly not childish. They are the sole province of adults (and adolescents, I might add). Name me a child who sticks to a course of action, no matter how foolish, based on some abstract philosophical notion.

Children may fixate on something and carry on like fools, but it’s generally over a concrete object, say a chocolate chip cookie, a Matchbox car or a pair of footie pajamas. I don’t see them crying over failed adherence to free-market principles or skepticism over Keynesian economics.

I guess it sounds clever to compare peculiarly adult blind spots to childish things. But it doesn’t do much to advance our political discourse when we seek to infantilize people based on what they may feel are important principles.

Or when we seek to explain away what is decidedly an adult problem as some sort of childishness that needs to be abandoned. Good luck with that.

Advertisements

Set your hypocrisy radars on high alert. Just don’t expect anyone to reconcile the AIG bailout with the values of a government supposedly in thrall to the belief that the market is the ultimate arbiter of all that is good and true.

As we’re learning, the market can dish out some ugliness, too. But is it really a new lesson? Not for the workers who used to make Ford minivans. Or the workers that used to make toys, lawn mowers and televisions. Nor is the market’s ability to inflict pain news to anyone who has to fill up a gas tank or pay for their own health insurance.

But in all of those cases, we let the market do its work, or at least profess faith in its ability to do so over the long run – if, for example, we could clear out those silly government bans on offshore drilling. But when you’re an investment bank or an international insurance company, I guess drill, baby,  drill – or retrain, baby, retrain – isn’t the answer. The answer is a multi-billion-dollar loan.

I laughed when morning news anchors on CNN lamented AIG’s interest rate of 11.5%, calling it high and an incentive for the company to look elsewhere. Funny, but I don’t recall any journalists wringing their hands over the rates charged to people with credit cards (20%-plus) or the rates charged to subprime borrowers.

Seems to me, if your business is a credit risk and teetering on the edge of collapse, you should pay higher rates. No lender throws good money after bad at a low rate. Well, not anymore, anyway.

Another ridiculous argument in all this is the claim that the collapse of AIG would lead to higher borrowing costs. Higher costs for whom? Certainly not for people buying cars and houses, the two major purchases for most consumers.

The automakers would go lower than 0% if they could and I don’t see that changing – unless they get a bailout of their own. The same incentives apply to housing. If rates rise, home prices likely will fall, making them more affordable in the long run, not exactly the worst news in the world.

Yes, it sucks if you already have a house and the value falls or simply doesn’t go up year after year. But look on the bright side. You own a house. And now you own an insurance company, or at least a 79.5% stake in one. I can’t wait for my first dividend check.

If I remember one book from college (or more accurately, one series of books), it’s the Gulag Archipelago, by Aleksandr Solzhenitsyn, who died yesterday.

Sure, I read One Day in the Life of Ivan Denisovich in high school, like so many others. But it was the Gulag Archipelago that made an impression, It wasn’t assigned reading, but the three or four volumes were right there on the reserve shelf in the college library where I worked. It guaranteed a semester’s worth of absorption for the 10 hours a week I spent on the job.

One quote still stands out from all those thousands of pages, though I might mangle it a bit here: “Most men go through life without knowing what deep well of evil they may fall into.” Hopefully you get the gist.

The book, more than any other, opened my eyes to the fatal fallacies of ideology, whether on the left or on the right. They ultimately elevate ideas over people, allowing for atrocities both big and small in the name of a better tomorrow, a better homeland or a better whatever. I never really trusted any ideology again, no matter its appeals to fairness and reason. Often enough they are mirages themselves.

Advertisements