Ad hominem worries about global justice

by Chris Bertram on October 10, 2008

In political philosophy you should play the ball rather than kicking the player, right? Well I agree. But then it gets hard to find a legitimate role for the Mandy Rice-Davies argument. And such arguments sometimes seem appropriate. It seems ok to notice that Hegel might have erred in finding that the local socio-political framework was what _Geist_ was aiming at all along, and that this might represent a kind of dull parochialism on his part. And when Kant isn’t willing to admit barbers to citizenship, but has fewer qualms about wig-makers, and thinks that reason supports him, we suspect something has gone wrong. It isn’t hard to multiply the examples …. Aristotle on slavery anyone?

Generally, I think, one should expect the comparatively liberal people in a society to articulate a kind of weaselly compromise between an impartial perspective and whatever the local chauvinisms and prejudices are. Partly this is psychological: it is hard to believe that uncles, aunts, cousins and neighbours are bad people, so one gives some weight to their attachments and beliefs as legitimate. Partly the pressure is political: in a democratic society winning means building a coalition and that means including the median voter. It is hard to build a coalition in bad faith, to secretly believe that your nation is a rapacious imperial power whilst reaching out to others who believe that it is a great country which (despite mistakes) basically does good in the world. And then there’s the fact that intellectuals who do try to detach themselves from local prejudice, from what the person on the bus thinks and cares about, often seem to lack a necessary reality check and end up saying a lot of crazy stuff that then earns them hostility and ridicule, some of it deserved. You don’t want to be like those guys.

So, for example, liberal Serbs kind of acknowledge that Milosevic did some bad stuff, but urge you to see the context, the other side of the picture. Liberal Israelis loathe the settlers and all their works and feel kind of bad about the Nakba and the occupation, but think of the Zionist project as basically legitimate and good. Liberal Russians might bemoan some of Putin’s excesses, but think that something had to be done about Chechnya. Etc. And, again, you can multiply the examples. Moreover (and it complicates the picture) some of these people might actually be right. In their case, the truth really might lie in the middle.

So, leaving the supporting arguments to one side, for a moment, what sort of conclusions about the world would you expect well-paid American liberal intellectuals to reach when they came to think about global justice? I guess I’d expect the following. I’d expect a good deal of hand-wringing about the relationship between patriotism and universal morality, and I’d expect them to discover a legitimate role for patriotism. They’d find out that it is perfectly permissible to have a limited preference for one’s fellow citizens (especially poor and minority ones) over outsiders. They’d therefore agonize about issues such as immigration but accept the right of states to control their borders, reject the notion that justice requires any kind of global redistributive principle but favour some limited doctrine of “assistance” to those suffering desperate poverty overseas. And I’d expect them, being smart people, to come up with some varied and ingenious arguments to support such conclusions. John Rawls, Michael Blake, Samuel Freeman, Richard Miller, Thomas Nagel, Elizabeth Anderson … even (or especially?) Michael Walzer, end up in the same place. Kind of a coincidence huh? What would Mandy say about that?

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All socialists now?

by John Q on October 10, 2008

A couple of days ago, I thought my call for full-scale nationalisation of the banking sector would remain beyond the pale of political acceptability for at least a week. I badly underestimated the pace at which events are moving. In today’s paper I read the following assessment:

Inevitably, the US, Britain and Europe are going to end up with nationalised banking systems in one form or another, and with governments guaranteeing not only their deposits but probably all their liabilities. The nationalisation will be a temporary emergency measure. But for some time at least the systemically important banks effectively are going to be public utilities and must be regulated accordingly.

This taxpayer rescue of banking systems opens up a new and potentially very important avenue for unfreezing bank lending and restoring the flow of credit. If governments effectively control the banks, what is to stop them from demanding that they start lending again?

The source is Alan Wood, probably Australia’s most consistently hardline free-market economics commentator, writing in the Murdoch-owned Australian.

To amplify Wood’s point, the time when the situation might have been salvaged by passive capital injections like the acquisition of preferred shares has passed. Only direct public control, combined with a commitment to salvage the financial system as a whole has any chance of success.

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Brooksley Born and Alan Greenspan

by Jon Mandle on October 9, 2008

The Times tells the story of the failed efforts of one Brooksley E. Born, the chair of the Commodities Futures Trading Association in 1997, to attempt to impose greater regulation on derivatives. “She called for greater disclosure of trades and reserves to cushion against losses.” She was fiercely opposed in this by Alan Greenspan and Robert Rubin. [ed:spelling corrected]
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Al Franken Commercial

by Jon Mandle on October 9, 2008

Man, if I were Al Franken, I’d put this up as a commercial straight with no commentary. (Okay, maybe cut down to 1:00 or :30.) (via Ezra).

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Obama’s Plausibility plus Watching Watchmen

by John Holbo on October 9, 2008

Like Kevin Drum, I have been sorely tempted to take a poke at the poor Cornerites in their misery – especially Andy McCarthy – but Hilzoy got there first. You can follow her links. it’s all-Ayers, all-the-time, if you’ve been missing the show. Here’s my analytic contribution on top of the straight mockery: this lot have been reduced to arguing that the problem with Obama is that he doesn’t believe the stuff he’s saying, won’t do anything like the things he’s proposing. Or, in the 10% less crazy Frum version, he’s just got to be an incredibly corrupt Chicago pol. Because he’s from Chicago.

This is funny, first, because it converts Obama’s rather pedestrian characteristic of not seeming to be something radically different than what he seems to be into a maddening sort of rope-a-dope achievement. (How does he do it? That ‘appearing to be the sort of person that he probably is’ thing.) Lowry glowers: “he’s a kind of genius at appearing plausible. If the Nobel committee had a prize for appearing plausible, he’d win it every time.” But Lowry isn’t talking about the power of making implausible ideas sound plausible. He’s talking about the power of making it seem plausible that you believe basically plausible things. [click to continue…]

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Gibberish

by Harry on October 9, 2008

My wife commented the other day that Sarah Palin has the rare talent of being able to make complete gibberish sound like it means something (a combination of that odd wink, and the modulation of her voice). As usual, my national chauvinism got the better of me: we, the British, have the finest exemplars of that skill, and Palin seems like an amateur to me. Two words: Idle; Unwin.

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Remembering Alan Coren

by Harry on October 9, 2008

When my 11-year old tires of the young adult novels she is forced to read (is it really necessary to give pre-teens a diet of child-abuse, divorce, gore, death, and suicide?) she skips to Alan Coren’s Arthur books, long out of print, but marvelously funny. Coren’s been gone for nearly a year, now, and here’s rather sad but loving tribute. Hearing Sandi Toksvig talk about him made me look around for old obits; and I found this lovely account of the funeral by Simon Hoggart.

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Which one?

by Eszter Hargittai on October 8, 2008

That bit was hard to miss, but I hadn’t noticed the refusal of the handshake. Ouch. [UPDATE: See some links in comments about how this wasn’t as bad as it might seem. I have looked at these and still think it would have been less awkward and more polite to shake hands there.]


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State capitalism on the instalment plan

by John Q on October 8, 2008

With the financial meltdown accelerating in the wake of the US bailout, and the recognition that many more failing banks will have to be nationalized, the British government is moving to get ahead of the game by offering equity injections across the board. But already this seems inadequate. Now that the taboo on nationalization has been broken, wouldn’t it make better sense to nationalize the whole sector? With full control, governments could then ensure the resumption of interbank lending at least among their own banks. This would provide a feasible basis for co-operative moves to re-establish international markets.

For this week at least, such an idea is beyond the range of political acceptability. But it’s striking to look back a month and realise that in that period the US government has become the main mortgage lender, the guarantor of the short term money market, the effective owner of the world’s largest insurance company, the potential future owner of much of the banking sector and now the purchaser of last resort for commercial paper. Since the reluctance of banks to buy commercial paper must reflect a significant probability of default, it seems inevitable that some of this commercial paper will end up being converted into claims on the assets of defaulting issuers, extending the scope of nationalisation beyond the finance sector and into business in general.

This kind of instalment-plan nationalisation seems to offer the worst of all worlds. At some point, a more systematic approach will have to be adopted, and given the rate at which markets are plummeting, the sooner that point comes the better. This isn’t the return of socialism, but it certainly looks like the end of the kind of financial capitalism that has prevailed for the last few decades.

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Cohort, age and period

by Henry Farrell on October 7, 2008

Two current debates about generations and what they mean. First, Siva Vaidhyanathan’s “recent article”:http://chronicle.com/free/v55/i04/04b00701.htm in the _Chronicle of Higher Education_, expressing skepticism about the concept of “Digital Natives”:https://crookedtimber.org/2008/09/22/at-berkman/.

Gomez writes. “For this generation — which Googles rather than going to the library — print seems expensive, a bore, and a waste of time.” When I read that, I shuddered. I shook my head. I rolled my eyes. And I sighed. I have been hearing some version of the “kids today” or “this generation believes” argument for more than a dozen years of studying and teaching about digital culture and technology. … Every class has a handful of people with amazing skills and a large number who can’t deal with computers at all. A few lack mobile phones. … almost none know how to program or even code text with Hypertext Markup Language (HTML). Only a handful come to college with a sense of how the Internet fundamentally differs from the other major media platforms in daily life. College students in America are not as “digital” as we might wish to pretend. And even at elite universities, many are not rich enough. All this mystical talk about a generational shift and all the claims that kids won’t read books are just not true.

Second, Matt Yglesias on whether it’s important that the “kids love Obama”:http://yglesias.thinkprogress.org/archives/2008/10/youth_decay_2.php.

I used to sometimes think that the relatively left-wing views of the under-30 generation were basically just a reflection of the fact that the under-30 cohort contains many fewer non-hispanic whites than does the over-30 cohort. This new report from Amanda Logan and David Madlan makes it clear that’s not right — young whites have substantially more progressive views on a whole range of key issues than do older whites … if you hunt down a copy of the current issue of The Atlantic you should find … a piece by yours truly observing that the present day conservative coalition seems to mostly be stuck with the shrinking slices of the demographic pie. This data shows us one of the major driving factors behind that.

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The Commanding Heights Revisited

by Henry Farrell on October 6, 2008

When I suggested a couple of weeks ago that the intellectual hegemony of free market capitalism was under threat, Dan Drezner expressed “polite skepticism”:http://danieldrezner.com/blog/?p=3943.

Is this the beginning of a norm shift in the global economy? It’s tempting to say yes, but I have my doubts. The last time the United States intervened on this scale in its own financial sector was the S&L bailout — and despite that intervention, financial globalization took off. The last time we’ve seen coordinated global interventions like this was the Asian financial crisis of a decade ago — and that intervention reinforced rather than retarded the privilege of private actors in the marketplace. In other words, massive interventions can take place without undercutting the ideological consensus that private actors should control the commanding heights of the economy.

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The Colors Out of Space

by John Holbo on October 5, 2008

I’m sure there’s nothing to this so-called ‘financial crisis’ that wasn’t explained adequately in that classic Sutherland instructional video, “The Wise Use Of Credit”. If not, then in that companion volume, “What Makes Us Tick”.

We have a friend who travels on business to India a lot. He was discussing how maybe next week isn’t the best week to be away from home because if the whole system melts down he’ll get stuck in Bangladesh, with the airlines unable to buy gas for the planes because money has seized up globally. Getting back to Singapore would be like a cross between Burmese Days and Planes, Trains and Automobiles. Not that he really thinks that. It’s just that everyone is thinking that. I mean: it almost definitely won’t happen.

I’ll just talk nonsense for a while. Because: what do I know? I praised Scott Morse’s art a couple weeks ago. Since then I bought a new collection of his stuff, Scrap Mettle [amazon]. You can check out this preview from his upcoming Tiger! Tiger! Tiger! . (If you missed my first post and don’t know who Scott Morse is, you can read his wikipedia entry, or check out this site. I linked to his blog above. He’s done animation stuff and other stuff.) [click to continue…]

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Irony

by John Q on October 5, 2008

We’ve all been strictly enjoined to avoid schadenfreude in the current crisis, and indeed few are likely to escape unscathed. Still I’m struck by a couple of examples of historical irony

* Ten years ago, I was debating representatives of the Dutch bank ABN-AMRO, who were pushing for the privatisation of Australian Capital Territory Electricity and Water (ACTEW). A couple of days ago, the Dutch operations of ABN-AMRO were nationalised

* British Bank Northern Rock was nationalised following a run by customers seeking to withdraw their money. Now, seen as safer than its competitors, it is being forced to limit deposits.

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Others bring problems, I bring solutions

by Daniel on October 3, 2008

Although I am not commenting on the current crisis, I think it would be irresponsible of me not to point out that I not only saw it coming five years ago, I even suggested a number of potential solutions which were similar in shape to the one actually chosen, but decidedly more innovative. If any readers are emailing their congressmen etc, you can quote me if you like. I promise that I am not trying to talk up a massive speculative book of Beanie Babies.

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Google 2001

by Kieran Healy on October 1, 2008

Though it may have seemed impossibly far off in our hazy youth, these days we fondly look back at the turn of the 21st century and think that was when the world was new and fresh and everything seemed possible. Or searchable, anyway. For one month only, here is Google’s index, c. 2001. It shows that we were present individually though not collectively. Besides nostalgia for this distant past, consider the results of searches such as “housing bubble” or “subprime mortgage lending” or “counterparty risk.”

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