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eric

On this day, the first of February, in 1934, the New York Times carried Franklin Roosevelt’s proclamation of a new gold value for the US dollar. Previously it had been worth 25 8/10 ounces of gold 9/10 fine; now it would be worth 15 5/21 ounces of gold 9/10 fine—or, as it is more commonly said, the dollar had been valued at $20.67 to an ounce of pure gold and now it would be $35 to an ounce of pure gold. But the US was not in 1934, nor would it ever again be, on a gold standard.

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Hillary Clinton is taking flak today for her summary repetition of the white supremacist Dunning School of historical interpretation, which held that the attempt in the 1860s and 1870s to provide African Americans with their civil rights was a terrible imposition on the white folks of the South.

[Lincoln] was willing to reconcile and forgive. And I don’t know what our country might have been like had he not been murdered, but I bet that it might have been a little less rancorous, a little more forgiving and tolerant, that might possibly have brought people back together more quickly.

But instead, you know, we had Reconstruction, we had the re-instigation of segregation and Jim Crow. We had people in the South feeling totally discouraged and defiant. So, I really do believe he could have very well put us on a different path.… let’s also think about how we do try to summon up those better angels, and to treat each other, even when we disagree, fundamentally disagree, treat each other with more respect, and agree to disagree more civilly, and try to be inspired by, I think, the greatest of our presidents.

I’ll leave critiques of the Dunning School in other hands because I think they’re obvious, sadly, and Clinton should really know better. I’ll even forgo detail on the obvious point that if you’re a modern Democratic presidential aspirant asked who’s the greatest of the US presidents, your answer is Franklin Roosevelt.1 Instead I want to focus on Clinton’s counterfactual: “had [Lincoln] not been murdered”. [click to continue…]

In the current Los Angeles Review of Books Quarterly Journal Michael W. Clune1 writes about odd small episodes, “particularly ephemeral perceptual experiences” we have that may alert us to the gap between how things seem and what they are. Riffing on Rei Terada’s Looking Away, he lists mirages, after-images; “clouds taken for mountains … looking at a landscape with one’s eyes half-closed so that it appears underwater.” He notes that we have nothing to say to each other about these experiences even if we share them, but that they remain with us. They remind us that if we pay too much attention to the mechanism by which we draw meaning from appearance we attenuate that meaning. One of Clune’s examples is an imaginary exchange with a sales clerk about money.

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A year from today, the US will inaugurate a new president. But inauguration day has not always been thus fixed.

In the early years of the Republic, habit (rather than statute) placed the date of inauguration at March 4—though even that convention was not quite firm. In 1821, with the incumbent President James Monroe about to take the oath of office for his second term, March 4 fell on a Sunday. Monroe asked of Chief Justice John Marshall whether he could take the oath on the following day, rather than sully the Lord’s day with secular business.

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On the inadequacy of “Great Recession”

by Eric on January 19, 2016

I dislike the term “Great Recession” to describe our times, for technical and political reasons alike. Technically, the severe recession ended in June 2009. But, as the NBER says there,

In determining that a trough occurred in June 2009, the committee did not conclude that economic conditions since that month have been favorable or that the economy has returned to operating at normal capacity.

And indeed it still hasn’t, six and a half years after the recession ended. In fact, as Kevin O’Rourke noted, in August of 2015

the inevitable happened: measured in terms of industrial output, our current recovery was overtaken by that of the interwar period. Pretty dismal stuff.

So now, having avoided quite so severe a contraction as the 1930s, we are suffering a less impressive recovery. What do we call this ongoing period?

“Malaise” is taken, and rather ruined, by Carter-related discourse. I’ve lately been suggesting “the great economic unpleasantness” but without, I confess, really expecting it to catch on. Krugman’s old “Lesser Depression” is looking depressingly correct.

Non-specific plot details discussed herein.

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Hitchens on the English and their history

by Eric on January 2, 2016

Peter Hitchens is less well known in the United States than his late brother, but when asked to write for the New York Times, he delivers his Mail columnist goods, full-strength. Regarding Robert Tombs’s English and their History:

Even in free countries it is sometimes necessary to alter the past to suit the present. For instance, I recall the day at my English boarding school in the early 1960s when our sober, patriotic old history books were gathered up and carted away to a storeroom. In their place we were handed bright, optimistic replacements, with a good deal less to say about the empire, the Protestant martyrs or what we had been taught without embarrassment to call the Glorious Revolution.… Older English people look back fondly on 1940, when we supposedly stood alone. In fact we were a major industrial and exporting power with a global navy, more or less self- sufficient, nationally cohesive and bolstered by the tribute of a still-great empire. Now all of that is gone. Is it possible that, after a thousand astonishing years, our island story has finally come to a full stop? Will the next great history of our nation and people be written in Chinese?

Now that George MacDonald Fraser has died, the sources for such views of the empire and its history seem fewer each day.

The estimable Heather Cox Richardson sympathizes with George Will in his despair over Bill O’Reilly’s book, Killing Reagan. Will decries “today’s cultural pathology of self-validating vehemence with blustery certitudes substituting for evidence.”

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Trump and populism

by Eric on August 25, 2015

In The New Republic, Jeet Heer says that Donald Trump is not a populist, he’s “the voice of aggrieved privilege—of those who already are doing well but feel threatened by social change from below, whether in the form of Hispanic immigrants or uppity women.” Or the voice of the white American man enraged at the possibility he might lose his ill-gotten privilege. Heer doesn’t use the f-word, but it’s the elephant in the room.

Hitler elephant
A relevant elephant

For the alleged misunderstanding of Trumpism as “populism,” Heer blames the historian Richard Hofstadter, who in the middle 1950s explained he was interested in “that side of Populism” that sounded to Hofstadter a lot like McCarthyism. Hofstadter was right: there was a side of Populism, and not a trivial side, that sounded like McCarthyism—and Trumpism too. [click to continue…]

David “Robin Hood” Brooks

by Eric on May 4, 2015

Ronald Reagan in “A Time for Choosing,” the Gipper’s speech for Barry Goldwater in 1964:

Welfare spending [is] 10 times greater than in the dark depths of the Depression. We’re spending 45 billion dollars on welfare. Now do a little arithmetic, and you’ll find that if we divided the 45 billion dollars up equally among those 9 million poor families, we’d be able to give each family 4,600 dollars a year. And this added to their present income should eliminate poverty.

David Brooks in the New York Times, regarding the case of Freddie Gray in 2015:

The problem is not lack of attention, and it’s not mainly lack of money. Since 1980 federal antipoverty spending has exploded. As Robert Samuelson of The Washington Post has pointed out, in 2013 the federal government spent nearly $14,000 per poor person. If you simply took that money and handed it to the poor, a family of four would have a household income roughly twice the poverty rate.

Annie Lowery points out why Brooks’s argument is numerically bogus: just as conservatives don’t count millions of government employees as employed in 1930s, Brooks doesn’t count federal money as money in the 2010s:

Brooks is claiming that federal spending on anti-poverty programs is not lifting families out of poverty… when the government specifically does not include the value of those very programs in its poverty calculations.… A fuller accounting shows that food stamps alone lift 4 million people above the poverty line. The earned-income tax credit lifts nearly 6 million above it. Which is to say that “not bringing down the official poverty rate” is not a good yardstick by which to judge these programs.

But I would like to take David Brooks up on his suggestion: with the absolute same degree of sincerity as 1964-era Reagan, he’s supporting a straight-up transfer of wealth from the rich to the poor. It is a radical solution to poverty, this long-standing Republican proposal, but perhaps one that we should consider.

Teege

With Abenesia in the news, I thought it might be useful to talk about another Axis nation’s complicated struggle with the memory of the Second World War. Jennifer Teege found out, at the age of 38, that not only was her grandfather a Nazi, he was an especially infamous Nazi: Amon Goeth, the commandant of Płaszów concentration camp, the man played by Ralph Fiennes in Schindler’s List. On trial after the war, Goeth sneered at the witnesses against him, “What? So many Jews? And we were always told there’d be none left.” He gave a Hitler salute on the gallows.

Hence the title of Teege’s memoir: she has an African father, and a Nazi grandfather who would have regarded as subhuman a person of African descent. The book is a great deal subtler than the title suggests. It is saturated in memory, and forgetting, and the fault lines between memory and history run throughout it. Teege describes her attempt to reconcile what she learns about her grandfather with the kind – but, she now knows, complicit – grandmother she remembers. The book presents Teege’s reminiscence and necessarily somewhat therapeutic work alongside the sober, reportorial voice of Nikola Sellmair, whose dry factual rendering of verifiable history often undermines Teege’s hopeful, emotional writing.

There are different kinds of memory in the book. Teege’s adoptive German family had a more usual relationship to the Nazi era – her father didn’t really know the extent to which his family had taken part in Nazi crimes. Sellmair discusses such modern Germans, summarizing Harald Welzer’s study “Grandpa Wasn’t a Nazi.” Latter day Germans seize on any opportunity to construct a guiltless, even noble past for their forebears – as with the French, they were all in the resistance.

Teege’s brief narrative also encompasses also the memory kept by Holocaust survivors and their descendants: before Teege found out about her grandfather, she traveled to Tel Aviv, made friends there, and lived there. Her discovery imposes silence between her and her Jewish friends. She doesn’t know what she can say. Her grandfather might have shot their grandparents.

“There is no Nazi gene,” Teege insists, struggling against the idea that she must bear some guilt for her grandfather. But she clearly feels that guilt. We all inhabit the world the bloodthirstiest conquerors made; only some of us grew up with them, personally.

Real liberals fight fascism

by Eric on April 27, 2015

TLS
Now, or recently, at newsagents

In the TLS for 17 April, you can find my essay on Nicholas Wapshott’s The Sphinx, about the presidential election of 1940, the isolationists, and how Franklin Roosevelt engineered the US shift toward war. The essay starts like this:

Franklin Roosevelt recognized the threat Adolf Hitler posed from the moment of the German Chancellor’s appointment. In January of 1933, Roosevelt—not yet inaugurated, though already elected, President—told an aide that Hitler’s ascent was “a portent of evil”, not just for Europe but “for the United States”. He “would in the end challenge us because his black sorcery appealed to the worst in men; it supported their hates and ridiculed their tolerances; and it could not exist permanently in the same world with a system whose reliance on reason and justice was fundamental:. From then onward, Roosevelt’s policies raced Hitler’s: the New Deal was not merely a programme for recovery from depression, but one to rebuild economic strength while preserving democracy in the United States so the nation would be ready to fight Nazism when the time came.

The New Deal gave Americans not only the material capacity to fight fascism, but faith in American institutions. Which is why, of course, the prevalence of remarks like this one remains so appalling.1



1Despite John’s extensive work; e.g.

Paul Campos writes in the New York Times about what he claims is the “real reason” for higher college tuition in the USA:

far from being caused by funding cuts, the astonishing rise in college tuition correlates closely with a huge increase in public subsidies for higher education.… a major factor driving increasing costs is the constant expansion of university administration

And he singles out the California State University (CSU) system as an example:

while the total number of full-time faculty members in the C.S.U. system grew from 11,614 to 12,019 between 1975 and 2008, the total number of administrators grew from 3,800 to 12,183 — a 221 percent increase

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Money Makers
Forthcoming in September, from Basic Books

As readers of this blog know, Franklin Roosevelt declared he had taken the US off the gold standard on March 6, 1933, as the first substantial act of his presidency. But scholars have not been so quick to accept this date or, with firmness, any other.

When Roosevelt first said he had taken the US off the gold standard, he didn’t want to make too great a fuss about it because he was trying to quiet a panic that had nearly broken the Federal Reserve System. He hoped Americans would bring their gold back for deposit in the nation’s vaults. And they did. Even though the papers were reporting that the president might issue scrip for temporary currency; even though the Emergency Banking Act provided that Federal Reserve notes could be backed by commercial bank assets, people generally preferred paper money to gold, so long as they trusted the paper money – which, with Roosevelt’s assurances, they did, as you can see from the chart. [click to continue…]

Roosevelt’s money policy, 1933-1934

by Eric on March 10, 2015

Money Makers
Forthcoming in September, from Basic Books

On this day in 1933, it was the first Friday of Franklin Roosevelt’s administration, and the new president met reporters to talk to them about ending the bank holiday with which he had begun his term. The Federal Reserve Banks would open on Saturday so that member banks of the Federal Reserve System could open on Monday. A reporter asked if the banks would be open “[a]ll along the line, Mr. President; that is, all functions?” Roosevelt replied, “Yes, all functions. Except, of course, as to gold. That is a different thing. I am keeping my finger on gold.”

The president’s week had started with his inauguration on March 4, the previous Saturday, when he had told the American people they had only fear itself to fear, and promised them an “adequate but sound currency.” The next day Roosevelt worked all through the day with members of his team and holdovers from Herbert Hoover’s to draft orders to close the banks and halt all payouts of gold. They worked so hard that Sunday that it was late by the time the order was ready for presidential signature – so late that Federal Reserve counsel Walter Wyatt urged the president to wait a little longer to sign, so that it would be Monday, and not so sacrilegious. Roosevelt did wait, and then, on signing the order said – gleefully, according to one account – “We are now off the gold standard.” That was in the wee hours of March 6; later that morning, Americans began a week of doing business without access to banks.

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