Friday, April 19, 2013

Stasis

Columns this morning by David Brooks and Paul Krugman each highlight stasis. Krugman argues in "The Excel Depression" that despite the discrediting of the main pro-austerity study by Carmen Reinhart and Kenneth Rogoff, "Growth in a Time of Debt," the anti-deficit mania of ruling elites will continue as before:
So the Reinhart-Rogoff fiasco needs to be seen in the broader context of austerity mania: the obviously intense desire of policy makers, politicians and pundits across the Western world to turn their backs on the unemployed and instead use the economic crisis as an excuse to slash social programs. 
What the Reinhart-Rogoff affair shows is the extent to which austerity has been sold on false pretenses. For three years, the turn to austerity has been presented not as a choice but as a necessity. Economic research, austerity advocates insisted, showed that terrible things happen once debt exceeds 90 percent of G.D.P. But “economic research” showed no such thing; a couple of economists made that assertion, while many others disagreed. Policy makers abandoned the unemployed and turned to austerity because they wanted to, not because they had to. 
So will toppling Reinhart-Rogoff from its pedestal change anything? I’d like to think so. But I predict that the usual suspects will just find another dubious piece of economic analysis to canonize, and the depression will go on and on.
David Brooks in "The Second Wave" limns the current state of the GOP. He discounts any long-term impact to Republicans for blocking gun control legislation. Brooks sees a rift in the party that, based on recent history, will likely scuttle any immigration reform legislation:
The main reason the gun issue won’t significantly harm Republicans is that it doesn’t play into the core debate that will shape the future of the party. The issue that does that is immigration. The near-term future of American politics will be determined by who wins the immigration debate. 
In the months since the election, a rift has opened between the Republicans you might call first-wave revolutionaries and those you might call second-wave revolutionaries. The first-wave revolutionaries (the party’s Congressional leaders) think of themselves as very conservative. They ejected the remaining moderates from their ranks. They sympathize with the Tea Party. They are loyal to Fox News and support a radical restructuring of the government.
The second wavers are much more tactically aggressive, favoring filibusters and such when possible. What the party needs now, they argue, is an ultra-Goldwaterite insurgency that topples the “establishment,” ditches immigration reform and wins Hispanic votes by appealing to the evangelicals among them and offering them economic liberty. 
The first and second wavers are just beginning their immigration clash. A few weeks ago, I would have thought the pro-immigration forces had gigantic advantages, but now it is hard to be sure. 
The immigration fight will be pitting a cohesive insurgent opposition force against a fragile coalition of bipartisan proponents who have to ambivalently defend a sprawling piece of compromise legislation. We’ve seen this kind of fight before. Things usually don’t end up well for the proponents. 
Whether it’s guns or immigration, it is easy to imagine that the underlying political landscape, which prevented progress in the past, has changed. But when you actually try to pass something, you often discover the underlying landscape has not changed. The immigration fight of 2013 might bear an eerie similarity to the fight of 2007.
High unemployment, an unresponsive political system, a perverse concentration of wealth, a distracted and harried populace -- the classical understating of stasis, that it results in civil war and/or tyranny, merits attention in our current situation.

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