Posts Tagged ‘Federalist’
“These fragments I have shored against my ruins”*…
Hate crime is rising, the Arctic is burning, and the Dow is bobbing like a cork on an angry sea. If the nation seems intolerant, reckless and more than a little cranky, perhaps that’s because the American republic is showing its age. Somewhere along the way, a once-new nation conceived in liberty and dedicated to the proposition that all men are created equal (not men and women; that came later) became a wheezy gerontocracy. Our leaders, our electorate and our hallowed system of government itself are extremely old.
Let me stipulate at the outset that I harbor no prejudice toward the elderly. As a sexagenarian myself, not to mention as POLITICO’s labor policy editor, I’m fully mindful of the scourge of ageism. (I’ve had the misfortune on occasion to experience it firsthand.) But to affirm that America must work harder to include the elderly within its vibrant multicultural quilt is not to say it must be governed almost entirely by duffers. The cause of greater diversity would be advanced, not thwarted, if a few more younger people penetrated the ranks of American voters and American political leaders.
Let’s start with the leaders.
Remember the Soviet Politburo? In the waning years of the Cold War, a frequent criticism of the USSR was that its ruling body was preposterously old and out of touch. Every May Day these geezers would show up on a Moscow reviewing stand, looking stuffed, and fix their rheumy gaze on a procession of jackbooted Red Army troops, missiles and tanks. For Americans, the sight was always good for a horselaugh. In 1982, when Leonid Brezhnev, the last of that generation to hold power for any significant length of time, went to his reward, the median age of a Politburo member was 71. No wonder the Evil Empire was crumbling!
You see where this is going. The U.S. doesn’t have a Politburo, but if you calculate the median age of the president, the speaker of the House, the majority leader of the Senate, and the three Democrats leading in the presidential polls for 2020, the median age is … uh … 77.
It doesn’t stop there. We heard a lot last November about the fresh new blood entering Congress, but when the current session began in January, the average ages of House and Senate members were 58 and 63, respectively. That’s slightly older than the previous Congress (58 and 62), which was already among the oldest in history. The average age in Congress declined through the 1970s but it’s mostly increased since the 1980s…
Timothy Noah (@TimothyNoah1) points out that our leaders, our electorate, and our hallowed system of government itself are aging. And it shows: “America, the Gerontocracy.”
* T. S. Eliot, “The Waste Land”
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As we ponder progression, we might recall that it was on this date in 1796 that George Washington, having decided to decline a run for a third term as president, “delivered” (via a long letter published in the the American Daily Advertiser) his Farewell Address. Characterizing it as advice from a “parting friend,” he celebrated the Constitutional logic of separation of powers and warned against permanent alliances with foreign powers, large public debts, a large military establishment, and “the devices of any small, artful, enterprising minority” to control or change the government– among many other topics. His letter became the foundation of the Federalist Party’s political doctrine, and is considered one of the most important documents in American history.
Starting in 1862, the Farewell Address was read, first in the House of Representatives, then from 1899 in the Senate as well on Washington’s birthday. The House abandoned the practice in 1984, but the Senate continues the tradition. A member of the Senate, alternating between political parties each year since 1896, reads the address aloud on the Senate floor, then upon finishing, makes an entry into a black, leather-bound journal maintained by the Secretary of the Senate .
“Economic theory is the art of pulling a rabbit out of a hat right after you’ve stuffed it into the hat in full view of the audience”*…
Many critics were disappointed the 2008 crisis did not lead to an intellectual revolution on the scale of the 1930s. But the image of stasis you’d get from looking at the top journals and textbooks isn’t the whole picture — the most interesting conversations are happening somewhere else. For a generation, leftists in economics have struggled to change the profession, some by launching attacks (often well aimed, but ignored) from the outside, others by trying to make radical ideas parseable in the orthodox language. One lesson of the past decade is that both groups got it backward. Keynes famously wrote that “Practical men who believe themselves to be quite exempt from any intellectual influence, are usually the slaves of some defunct economist.” But in recent years the relationship seems to have been more the other way round. If we want to change the economics profession, we need to start changing the world. Economics will follow.
From J.W. Mason‘s helpful survey of economic thought since the Crash of 2008: “How a Decade of Crisis Changed Economics.”
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As we contemplate counting, we might send revolutionary birthday greetings to Alexander Hamilton; he was born on this date in 1755 (or 1757, there is some scholarly debate about the year, but not the date). A Founding Father of the United States, Hamilton created the Federalist Party (proponent of stronger national government than provided by the Articles of Confederation), the United States Coast Guard, and the New York Post newspaper. But he was probably most notably the creator of the new nation’s financial system. The main author of the economic policies of George Washington’s administration, he took the lead in the Federal government’s funding of states’ debts, and established a national bank, a system of tariffs, and friendly trade relations with Britain. His vision included a strong central government led by a vigorous executive branch, a strong commercial economy, a national bank supporting manufacturing, and a strong military…. in all of which he stood most frequently opposed to Thomas Jefferson, who favored agrarian and small government policies.
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