In our present neo-Keynesian moment, economics has never seemed more bewildering and arcane, or more the exclusive preserve of hated "experts" from the "East Coast elites." Most people I know, myself included, can't readily follow the algebraic equations that explain the "Keynesian multiplier," which, in its turn, is needed to explain TARP and the stimulus package. Belonging to a tribe different from Palin's, I simply take it on trust as a matter of faith that Paul Krugman, in his columns for The New York Times, is more likely to be right about such things than, say, Lou Dobbs or Senator John Thune, but I share in the general apprehensive fogginess about what's happening.
For Palin, it's simple. The national economy is a straightforward macrocosm of the domestic economy of the average god-fearing family of four. What's good for the family is good for the nation, and vice versa; and the idea that the family should spend its way out of recession is an affront to common sense, conservative or otherwise. On December 3, she tweeted: "Baffling/nonsensical: Obama's talk of yet another debt-ridden 'stimulus' pkg. Fight this 1, America, bc after last 1 unemployment rose, debt grew." Five days later, while Obama was speaking at the Brookings Institution about the economy, Palin wrote, "Quik msg b4 book event: Prez pls pay down massive, obscene U.S debt &/or give 'stimulus' $ back to Americans b4 propose spending more of our $."
Sunday, February 07, 2010
I enjoyed this review of Going Rogue: An American Life in The New York Review of Books.