Some Chicago Boyz know each other from student days at the University of Chicago. Others are Chicago boys in spirit. The blog name is also intended as a good-humored gesture of admiration for distinguished Chicago School economists and fellow travelers.
Richard Epstein, The flawed 75% tax solution from Hollande and Piketty:
The basic question is why would anyone assume that major shifts in tax rates should have only relatively modest effects on the production of wealth. No one would say that about a cut in market wages of over 50 percent. So why assume otherwise in a tax context?
And yet there are signals of personal defeat which are like red lamps on broken roads, to these we must pay heed. I grew anxious when a man’s speech began to betray him; when he was full of windy talk of what the Boche had done in the new sector the battalion was taking over, of some new gas. It was always about something which was going to happen; the wretched fellow must have known the mess would muzzle him if it could, but he seemed driven by some inner force to chatter incessantly of every calamity that could conceivably come to pass. It was as if he had come to terms with the devil himself, that if he could make others as windy, his life would be spared. How full of apprehension the fellow was; death came to him daily in a hundred shapes. This was fear in its infancy. It was a bad sign, for when a man talked like that, his self-respect was going, and the battle was already half lost. It was just a matter of time. Such a man did the battalion no good for the disease was infectious; I was glad to get him away.
Lord Moran, The Anatomy of Courage
[Readers needing background may refer to the earlier members of this series, Don’t Panic: Against the Spirit of the Age; Don’t Panic: A Continuing Series; Don’t Panic: A Continuing Series Ebola or Black Heva?; and Don’t Panic: A Continuing Series Ebola Realities and the True Test.]
Not everyone is helpful in what Strauss and Howe call a Crisis Era. This is not a matter of ability or resources, but of attitude. I have recently encountered numerous highly intelligent, capable, and often firmly upper-middle class men who at the slightest provocation vehemently insist that the United States is doomed. This year alone, they have predicted at least three of the last zero national calamities. Repeatedly failed scenarios make no impression on them. Some of these people are actually planning to run and hide somewhere.
No, the president didn’t kill the process all by himself. Bush did it! Reagan did it! True or not, twenty years from now, the minions of some Republican Napoleon will be screaming ‘Obama did it!’ And they’ll have a sad story or a chilling warning that will justify why it’s ok. Because all legislative powers herein granted shall be vested in a Congress of the United States unless the president says it’s super important. Then anything goes.
Those of you who know Dostoievski will remember the scene of the ‘Grand Inquisitor,’ where the problem is poignantly unfolded. If one makes any concessions at all to the principle that the end justifies the means, it is not possible to bring an ethic of ultimate ends and an ethic of responsibility under one roof or to decree ethically which end should justify which means.
My colleague, Mr. F. W. Forster, whom personally I highly esteem for his undoubted sincerity, but whom I reject unreservedly as a politician, believes it is possible to get around this difficulty by the simple thesis: ‘from good comes only good; but from evil only evil follows.’ In that case this whole complex of questions would not exist. But it is rather astonishing that such a thesis could come to light two thousand five hundred years after the Upanishads. Not only the whole course of world history, but every frank examination of everyday experience points to the very opposite. The development of religions all over the world is determined by the fact that the opposite is true. The age-old problem of theodicy consists of the very question of how it is that a power which is said to be at once omnipotent and kind could have created such an irrational world of undeserved suffering, unpunished injustice, and hopeless stupidity. Either this power is not omnipotent or not kind, or, entirely different principles of compensation and reward govern our life–principles we may interpret metaphysically, or even principles that forever escape our comprehension This problem–the experience of the irrationality of the world–has been the driving force of all religious evolution. The Indian doctrine of karma, Persian dualism, the doctrine of original sin, predestination and the deus absconditus, all these have grown out of this experience. Also the early Christians knew full well the world is governed by demons and that he who lets himself in for politics, that is, for power and force as means, contracts with diabolical powers and for his action it is not true that good can follow only from good and evil only from evil, but that often the opposite is true. Anyone who fails to see this is, indeed, a political infant.
Max Weber, Politics as a Vocation (1919).
Is Weber right? Is Aristotle (“man is by nature a political animal”) wrong?
One hour, one blue book.
The highlighted language from Weber I recently read in “The Private Faces of Public Virtue” Michael Knox Beran, in The Claremont Review of Books, Vol. XIV, Number 3, Summer 2014, a review of The Founders at Home: The Building of America, 1735-1817
Far too many books, far too little time.
It has been many years since I read “Politics as a Vocation” — an acknowledged classic. I need to read that again.
