Monday, February 6, 2012 - 1:57 PM
In my experience, pundits tend to be risk-averse in calling out a very rich person on their economic or financial analyses. There's a couple of intuitive logics at work here:
1) Most pundits don't know much about economics, and so are leery of entering those waters;
2) The really rich person likely became really rich because they demonstrated a shrewd understanding of the markets -- therefore, who is the low-six-figure-or-less-earning pundit to challenge such high-yielding wisdom;
3) Most pundits refuse to admit that they don't understand something that reads like gobbledgook, because they're afraid this makes them look like an idiot.
Well, your humble blogger has never been afraid of looking like an idiot... which brings me to PIMCO's Bill Gross. I'll occasionally read his monthly newsletter when a link to it pops up in my Twitter feed. Every time, I'm amazed at the florid, rambling, not-really-related-to-his-main-point way he opens these little essays. Sometimes I find the analysis afterwards useful, sometimes I find it eerily similar to what someone says after spending too much time with Tom Friedman. I gather he's had better years as an analyst than he did in 2011, but everyone has down years and bad predictions.
Here's the thing, though -- I can't understand a word of his latest Financial Times column: Here's how it opens:
Isaac Newton may have conceptualised the effects of gravity when that mythical apple fell on his head, but could he have imagined Neil Armstrong’s hop-skip-and-jumping on the moon, or the trapping of light inside a black hole? Probably not. Likewise, the deceased economic maestro of the 21st century – Hyman Minsky – probably couldn’t have conceived how his monetary theories could be altered by zero-based money.
Things get a little clearer towards the end of the op-ed... but not much. His February 2012 newsletter appears to be an expanded version of this op-ed (plus the usual wacky opening), so let's go there to see what he's trying to say:
[W]hen rational or irrational fear persuades an investor to be more concerned about the return of her money than on her money then liquidity can be trapped in a mattress, a bank account or a five basis point Treasury bill. But that commonsensical observation is well known to Fed policymakers, economic historians and certainly citizens on Main Street.
What perhaps is not so often recognized is that liquidity can be trapped by the “price” of credit, in addition to its “risk.” Capitalism depends on risk-taking in several forms. Developers, homeowners, entrepreneurs of all shapes and sizes epitomize the riskiness of business building via equity and credit risk extension. But modern capitalism is dependent as well on maturity extension in credit markets. No venture, aside from one financed with 100% owners’ capital, could survive on credit or loans that matured or were callable overnight. Buildings, utilities and homes require 20- and 30-year loan commitments to smooth and justify their returns. Because this is so, lenders require a yield premium, expressed as a positively sloped yield curve, to make the extended loan. A flat yield curve, in contrast, is a disincentive for lenders to lend unless there is sufficient downside room for yields to fall and provide bond market capital gains. This nominal or even real interest rate “margin” is why prior cyclical periods of curve flatness or even inversion have been successfully followed by economic expansions. Intermediate and long rates – even though flat and equal to a short-term policy rate – have had room to fall, and credit therefore has not been trapped by “price.”
Even if nodding in agreement, an observer might immediately comment that today’s yield curve is anything but flat and that might be true. Most short to intermediate Treasury yields, however, are dangerously close to the zero-bound which imply little if any room to fall: no margin, no air underneath those bond yields and therefore limited, if any, price appreciation. What incentive does a bank have to buy two-year Treasuries at 20 basis points when they can park overnight reserves with the Fed at 25? What incentives do investment managers or even individual investors have to take price risk with a five-, 10- or 30-year Treasury when there are multiples of downside price risk compared to appreciation? At 75 basis points, a five-year Treasury can only rationally appreciate by two more points, but theoretically can go down by an unlimited amount. Duration risk and flatness at the zero-bound, to make the simple point, can freeze and trap liquidity by convincing investors to hold cash as opposed to extend credit (emplases in original).
And... sorry, I still don't get it. I get why zero interest rates are bad for bondholders like PIMCO. I get that flat yield curves + high amounts of economic uncertainty = cash hoarding. What I don't get is that:
A) Gross himself acknowledges that the yield curve ain't flat;
B) Low interest rates allow for private-sector deleveraging, which is a prelude to stimulating market demand;
C) Low interest rates prevent today's government binge from being even more expensive than it would be in normal times (by keeping financing costs down);
D) If uncertainty is decreasing -- and that appears to be the case with the U.S. economy -- then low interest rates should spur greater entrepreneurial investments.
So, at the risk of threatening my status in the International Brotherhood of Serious Global Political Econmy Bloggers That Talk Seriously About Economics, I hereby ask my commenters to explain Bill Gross' concerns to me. Because I don't get it -- and I'm beginning to wonder if I'm not the only one.
Friday, July 29, 2011 - 10:17 AM

As the markets begin their full-on freak out over the failure of Washington to raise the debt ceiling, I must confess to having a semi-out-of-body experience about the whole thing. The American in me is simply appalled by the stupid, self-destructive behavior that led to this thoroughly avoidable apocalypse. The political scientist in me, however, is utterly fascinated by the whole shebang. I understand that wartime photographers have the same kind of problem -- I wish they had a word for it.
So, taking my American hat off and putting my poli sci hat on, I find it fascinating that House Speaker John Boehner is having so much difficulty whipping a debt ceiling bill that is already a dead letter in the Senate. Conventionally, whipping is done through a mixture of cajoling, coercing and cash -- with an emphasis on the latter. A pet project here, a pet project there, and presto, you have a majority.
The problem is that the nature of the GOP House caucus, combined with the party's anti-government ideology, has stripped Boehner of everything but the cajoling. First, here's the Politico story on last night's whip effort:
Boehner and his top lieutenants worked deep into Thursday night trying to find a just-right solution that would attract 216 votes for the package of $900 billion in new borrowing authority, $917 billion in spending cuts over the next decade, and a process for entitlement and tax reform legislation that could lead to $1.6 trillion or so in deficit reduction and a second increase in the debt limit.
They don’t have available to them the same tools as past Republican leadership teams: There are no earmarks to hand out, nor any to take away, for example.
Rep. Jeff Flake (R-Ariz.), one of the last holdouts and a candidate for the Senate in Arizona, spoke of how “refreshing” it was to see a lobbying effort bereft of the legislative grease that used to secure last-minute votes in the House. He said the vote-building would have “cost $20 billion” in the past.
Yes, it's totally refreshing. It's also totally f**king useless, because Boehner isn't trying to cajole moderates, he's trying to cajole ideological hardliners. David Weigel explains in his wrap-up:
The Republican dilemma quickly revealed itself. In other situations where a majority party needed to grind out a few final votes, it called on members who agreed with the concept of legislation but quibbled with the text....
John Boehner and Eric Cantor couldn't sell their Republicans in the same way. Their diehards never wanted to raise the debt limit. They had supported a strict, doomed version of a debt ceiling deal, Cut, Cap, and Balance, which did that, but even then, they weren't really comfortable with the concept of what they were doing. They did not want to raise the debt limit. Their constituents were uncomfortable with the idea, at first. And now they were being asked to raise the limit, without the conditions they liked, because... why? Because they were told that failing to do so would give Barack Obama all the leverage in the debt fight. That was too clever by half for some Republicans. More than 24 Republicans, it seemed.
Tonight, reporters stalked outside the offices of Boehner and Cantor as members walked in and out for meetings. This wasn't like health care, or even the continuing resolution. We were watching diehard conservatives, who had never wanted to raise the debt limit, and who had never done so in their careers, being begged for votes. As the night dragged on, the visitors did not look like the sort who could cave on big, existential votes. Louie Gohmert, one of the diehards who believes that Tim Geithner is lying about the threat of default, was dragged in. Tim Scott, the co-president of the freshman class, was dragged in; he walked out nonplussed, walked past reporters, and took out his iPod earbuds to confirm he was a "no." Roscoe Bartlett, an octogeniaran, who's not usually counted on for tough votes, entered the hot room telling reporters he didn't want to choose between "bad and really bad." The farce peaked when Gohmert joined freshman Rep. Jeff Duncan, R-S.C., for a prayer session in the House's chapel. It can't be good when members of Congress are literally asking for salvation.
If you are looking only to God for a clue about how you should vote, neither material incentives nor political rhetoric is gonna sway you. And now you know why I think there's a 50/50 chance that no deal occurs by August 2.
UPDATE: Megan McArdle has some similar reactions to the same Politico story as I did.
Win McNamee/Getty Images
Thursday, July 28, 2011 - 12:36 PM

Earlier this week Walter Russell Mead blogged about the mortal danger facing a prominent international relations theory:
American fast food continues to worm its way ever deeper into Pakistani affections. Hardee’s recently joined McDonald’s in Islamabad and both are doing well, says the Washington Post.
Since McDonald’s is also thriving in India, an IR theory is about to be put to a test. The “McDonald’s theory” holds that no two countries with McDonald’s in them will ever go to war. Once you have a middle class big enough to support hamburger franchises, the theory runs, war is a thing of the past.
I wish. The 2008 war between Russia and Georgia dealt the theory a blow; an India-Pakistan war would be the end.
Whether or not that happens, the theory is a bust. Countries often become more militaristic as their middle classes rise.
A touch a touch, I do confess it!! It appears that the collective reputation of international relations theory has been tarnished, yet -- wait a second, who came up with that theory in the first place?
As it turns out, it was not some academic IR theorist like me, but rather a Prominent Foreign Affairs Columnist of Some Renown … kinda like Mead (but not really). Yes, it was indeed Tom Friedman who first suggested "The Golden Arches Theory of Conflict Prevention."
Mead concludes that the theory is a bust, and Wikipedia appears to back him up:
[T]he NATO bombing of Serbia proved the theory wrong, though in a later edition Friedman argued that this exception proved the rule: the war ended quickly, he argued, partly because the Serbian population did not want to lose their place in a global system "symbolised by McDonald's" (Friedman 2000: 252–253).... In 1998, McDonald's host countries India and Pakistan fought a border war over Kashmir. While not a full scale war, both countries flaunted their nuclear capabilities. At least two wars between McDonald's hosting nations have occurred since the NATO bombing of Serbia: the 2006 war between Israel and Lebanon; and the 2008 conflict between Georgia and Russia over South Ossetia.
(Actually, Wikipedia is underestimating how many times the Golden Arches Theory of Conflict Prevention has been falsified … according to Wikipedia. The Kargil War was in 1999, not 1998, and according to casualty estimates, there were more than 1,000 battle deaths, which meets the standard definition of a war.)
Empirical quibbles aside, this certainly falsifies Friedman's original "strong" hypothesis of "no two countries that both have a McDonald's have ever fought a war against each other." The thing is, international relations theories are kinda like … er … zombies. Even if you think you've killed them off, they can be revived.
Let's water down Friedman's strong hypothesis a bit. Is it true that, "two countries that both have a McDonald's are significantly less likely to fight a war against each other?" Mead thinks the answer is no, but my hunch is that it would be yes. A cursory glance at the scholarly literature suggests that no one has actually tested it, so … get to it, aspiring MA thesis writers!!
That said, even if the weaker version was true, would it be useful from either a theoretical or policy perspective? I think the answer here is no, and this is one important way in which academic IR theorists do better than, say, Tom Friedman. The comparative advantage of the Golden Arches Theory is pedagogical -- it's easy to explain to anyone. The problem is that McDonald's is really an intervening variable and not the actual cause of any peace. And while IR scholars sometimes roll their eyes at democratic peace theory, the literature has produced significant progress about the ways in which that hypothesis is constrained (in a world of democratizing states, for example).
Mead is correct to observe that this particular IR theory is in trouble. I'm marginally more sanguine about the state of academic IR theory overall, however.
MIRA OBERMAN/AFP/Getty Images
Monday, July 11, 2011 - 11:54 AM
The Official Blog Son and I were lucky enough to catch Team USA's thrilling come-from-behind victory over Brazil in the FIFA Women's World Cup. It was a great and controversial game, sure to be replayed on ESPN Classic for years to come. It also got me to thinking about how prominent thinkers and writers about world politics would use the game as a hook for their foreign affairs columns and op-eds this week. Here are their opening paragraphs:
I was quaffing hearty German pilsners with FIFA President Sepp Blatter in a luxury box in Dresden's Glücksgas Stadium (try the bratwurst!!) when he said something that hit me like a thunderbolt: "I can't understand why there's so much demand for video replay in soccer. You know, there is no instant replay in the real world." And really, that's what the global economy is like -- a fast-speed, arcing bullet of a free kick with no time to press the pause button. You have to use every part of your being -- your legs, your head, though admittedly not your arms -- just to keep pace.
Watching the thrilling run of the Americans leading up to Abby Wambach's header, I was struck by the complex, free-flowing sequence of passes that got the ball from the American end to Megan Rapinoe's left foot. It was such a seamless, interlaced network of exchanges -- dare I call it a web of them? -- that moved the ball forward. As the passes moved from one player to another, I bet social networking technologies moved even faster, alerting Americans that a Big Moment was about to happen. In winning, the United States showed the power of webbed networks -- or is it networked webs? -- yet again.
All of the Western media will focus on the "theatrics" of the USA-Brazil game, but it doesn't matter. This was an intramural match between Western Hemisphere teams, which means it was irrelevant. Japan's stunning upset of host Germany in the quarterfinals is the real story of this World Cup, yet another signal of how the one remaining Asian team will leave the three "Western" teams still alive in the dust.
This was an example of American exceptionalism and American will to power at its finest. Battling a set of rules and referees that were clearly anti-American in their effect, the noble U.S. side displayed dogged determination and grit, vanquishing their Brazilian counterparts. The only black mark on the U.S. side was the timidity of the U.S. coach Pia Sundhage in obeying FIFA's absurd and corrupt rules. Sundhage, from that socialist bastion of meek multilateralism that is Sweden, adhered to the letter of FIFA law in pulling Rachel Buehler after she was "red-carded." A true American coach would have instead followed the spirit of the law and sent an 11th player onto the pitch in place of the unjustly accused Buehler.
Americans will thump their chests, display their brassy jingoism, and bray to the heavens about how the refereeing in this game was "unfair" or "ridiculous." They'll claim that the referee's red card of Buehler and mandated do-over of the penalty kick during regular time was "anti-American." They'll overlook the fact that the Australian ref could have midfielder Carli Lloyd off the field for a flagrant, deliberate handball but didn't. They'll overlook the granting of a re-kick for U.S. player Shannon Boxx during the penalty kick phase. They'll overlook the aesthetic beauty of Brazilian star Marta's soccer artistry. They'll overlook the arrogance of U.S. goalkeeper Hope Solo -- a perfect American name if there ever was one -- as she had the audacity to question the ref (if the officials weren't so obviously in Corporate America's back pocket, Solo would have been red-carded). They'll overlook the fact that the extra half-hour of play insidiously stacked the deck for the Americans, rewarding their better conditioning against the poorer and put-upon Brazilians. They'll overlook the 158 other things that I will now lay out in excruciating detail. Only when WikiLeaks focuses its might on FIFA will the soccer world be more just.
The sweltering heat in Dresden clearly began to affect the crowd. They booed the Brazilian star Marta with all of her touches. You could sense a growing danger as the boos grew louder. The German fans, upset at seeing their own team get knocked out, had clearly decided to side with their tribal allies. It is likely that only Wambach's header prevented what would have been an unruly German/American riot, breaking down the tenuous social fabric. The riot would have started in the heart of Europe, but I have every confidence that, before long, the unrest would have spread to Halford MacKinder's heartland in the middle of Eurasia.
This match crystallized both the promise and the peril of the rising BRIC powers as they assume more responsibilities in global governance. The game put FIFA's many problems -- bad decision-making, a lack of transparency about the bad decision-making -- on full display. Even after the match, FIFA never explained why Brazil was awarded a re-kick following Solo's block of Christina's penalty kick. Instead of constructively seeking reform, however, the Brazilian side tried to free-ride off of FIFA's flaws. Marta constantly whined to the refs about the lack of Brazilian free kicks. Defender Erkia flopped onto the pitch in a transparent effort to stall play. Unless and until the BRIC countries learn to play cooperatively with the fading West, global governance will look as effective as FIFA's efforts to block corruption. Which is to say, not effective at all.
Readers are warmly encouraged to offer their own suggestions in the comments.
Thursday, June 9, 2011 - 1:25 PM
[Note to readers: Because Dan was upgraded to business class on his trip to Beijing, he was exposed to a serious viral infection in the food called metaphoricus overloadus, known more commonly as Friedman's Disease. Rest assured, it is far from fatal -- it usually passes after 24 hours of no travel. As near as we can determine, all the facts in the blog post below are accurate. While suffering from Friedman's Disease, however, side effects do include rapid-fire, over-the-top metaphors. Remember: You've been warned!! --ed.]
To truly understand the phenomenon that is China, you need to fly into Beijing's airport and then try to get into the city. That's it; that's all you need. Just that adventure alone will tell you all you need to know about the contradictions of the Middle Kingdom.
First you enter a glittering, modern airport, with helpful signs in Mandarin and English. It's sheer scale and modernity telegraphs the ways in which China has already entered modernity. The monorail from my terminal to baggage claim was a pointed reminder of how much the United States lags behind in infrastructure investment in recent years.
And yet, there's the traffic. Summer in Beijing is a confusing miasma of traffic and smog and traffic. As my compatriot and I clambered into our taxi at Beijing's immaculately clean and modern airport, we knew that the ride to the hotel could take anywhere from 30 to 90 minutes depending on the traffic. Just as we Americans don't know when exactly China will catch up, the Chinese are not sure how long it will take to get there.
We might like to think that driving in a New York City taxi is as exciting as a carnival ride, but that's nothing compared with a taxi ride on a Beijing superhighway. In New York, there's always that sense that, in the end, the taxi driver won't risk an actual collision. On the road to Beijing, however, I witnessed at least two last-minute swerves and road rage that would have made Los Angelenos blush. Using an accent that an old-style New York cabbie would have admired in its sheer swarthiness, my cabbie kept honking for at least two minutes after a car viciously cut him off.
It's a fantastical engineering problem, getting so many cars and motorcycles and trucks and buses to merge and move in the same direction. And that's when it hit me like a thunderbolt -- China itself is like this superhighway. It's massive in size, 10 lanes easy. It's filled with an array of vehicles determined to get ahead. The problem is that when you combine all the vehicles together, the real possibility of a two-week-long traffic jam in which everyone wants to go somewhere but nobody gets anywhere is clearly a possibility. Predicting China's future is like predicting the traffic: You know there will be some stop-and-go, but you just don't know how much of it there will be.
When we got to the hotel, I paid my cabbie and he signaled that I owed him four more yuan. I was suffering from ATM disease, so I took out a single U.S. dollar bill and a 100-yuan note, looked at him, and said, "You choose." He paused, and then took the yuan note and made the necessary change. Clearly, all of us participating in this hyperaccelerated, globalized economy are going to have to make the necessary change soon enough.
Wednesday, April 6, 2011 - 8:06 PM
Over at Vanity Fair, James Wolcott blogs about the explosion of forthcoming superhero movies, why they will suck, and what this means for American exceptionalism.
Actually, let me put that a little differently: James Wolcott has used prose more bloated than X-Men 3 to attempt a half-assed connection between summer popcorn flicks and America's place in the world.
First, there's his general critique of today's superhero film:
For old-school comic fans such as myself (who had a letter published in the Stan Lee-Jack Kirby Fantastic Four in 1967—top that, Jonathan Franzen), these cinematic blowup editions are lacking on the fun side. The more ambitious ones aren’t meant to be much fun, apart from a finely crafted quip surgically inserted here and there to defuse the tension of everybody standing around butt-clenched and battle-ready, waiting for some laureled thespian (Anthony Hopkins as Odin in Thor) to elocute and class up this clambake. Even the films that play it loosey-goosier, such as the facetious Ghost Rider (Nicolas Cage as a skull-blazing vigilante who chills by listening to the Carpenters), end up laying it on too heavy, faking orgasm like a porn star trying to keep Charlie Sheen’s attention. For all of the tremendous talent involved and the technical ingenuity deployed, superhero movies go at us like death metal: loud, anthemic, convoluted, technocratic, agonistic, fireball-blossoming, scenery-crushing workloads that waterboard the audience with digital effects, World War IV weaponry, rampant destruction, and electrical-flash editing.
Three thoughts. First, this critique ain't exactly new. Second, the reason this critique isn't new is that Wolcott ignores Drezner's Sturgeon's Law of Crap. Take any artistic or literary category, and 90% of the contributions to said genre will be total crap [Does that apply to your blog posts as well?--ed. More like 95% in my case.] Therefore, the easiest thing in the world to blog about is how 90% of any kind of genre stinks. Third, Wolcott clearly slept through hasn't seen the superhero films that rise above the 90% and possess a fair degree of whimsy, like, say, Spiderman 2, The Incredibles, or Iron Man.
As for the symbolic implications for American power, er, well, here's his key paragraph:
Why so much overcompensation? The superhero genre is an American creation, like jazz and stripper poles, exemplifying American ideals, American know-how, and American might, a mating of magical thinking and the right stuff. But in the new millennium no amount of nationally puffing ourselves up can disguise the entropy and molt. Despite the resolute jaw of Mitt Romney and John Bolton’s mustache, American exceptionalism no longer commands the eagle wingspan to engirdle the world and keep raising the flag over Iwo Jima. Since Vietnam, whatever the bravery and sacrifice of those in uniform, America’s superpower might hasn’t been up to much worthy of chest-swelling, chain-snapping pride (invading a third-rate military matchstick house such as Iraq is hardly the stuff of Homeric legend), and our national sense of inviolability took a sucker punch on September 11, 2001, that dislocated our inner gyroscope. Sinister arch-villains make for high-stakes showdowns, but asymmetrical conflict has no need for them, and for all we know the cavern voice of Osama bin Laden could be a Mission: Impossible tape, poofing into smoke at the first shaft of sunlight. The subsequent War on Terror is one waged within a shadow maze of misdirection and paranoia where the enemy might be no more than a phantom army of apprehensions, viral bugs invading the neural network.
Let me be blunt -- I'm not entirely sure if Wolcott wrote this paragraph or outsourced it to a computer program that strongs together random clauses about American foreign policy. Suffice it to say that the better superhero flicks -- both Iron Man and The Dark Knight Returns come to mind -- contain some interesting commentary on American foreign policy. Indeed, a few years ago Jesse Walker at Reason argued, with some justification, that "Superhero stories may have begun as power fantasies, but it is our ambivalence about power that keeps the modern genre thriving."
I share Wolcott's distaste for hackneyed comic book films, but sometimes, a bad movie is just a bad movie. Anyone trying to use any film released in January The Green Hornet as a metaphor for what ails American foreign policy really needs to remember that, most of the time, a bad superhero movie is just a bad superhero movie.
Monday, January 31, 2011 - 7:08 PM
Events in Egypt are now officially happening Too Fast to Blog About While Egyptians are Still Awake.
Sooo... in the meantime, I have a review of George Friedman's The Next Decade: Where We've Been... and Where We're Going in the latest issue of Texas Monthly. Friedman is the founder and CEO of Stratfor, which is based in Austin, Texas.
Here's how the review opens and closes:
As a rule, those who predict the future of world events should be viewed the same way Hermione Granger viewed Hogwarts’s divination classes—with unremitting skepticism. Social scientists may have something to offer in the way of explanation or short-term speculation, but there are serious limits to any kind of global soothsaying. World politics are simply too complex to forecast anything precisely in the medium term; it’s like asking a meteorologist to predict the weather a decade from now....
Perhaps I exaggerated Hermione’s skepticism of divination a bit. An otherwise stellar student, she was clearly frustrated that she was simply no good at it. Similarly, I should confess a smidgen of envy at Friedman’s conviction that he will be proved right about everything. Some writers are so sure of their beliefs that their assuredness has a viral quality, infecting the reader even if their logic fails. Friedman possesses that certainty in truckloads, and The Next Decade contains a few nuggets of insight as well. But make no mistake: Things will happen over the course of the next decade—and the next year and the next week—that will completely rock George Friedman’s world. (emphasis added)
Hey, are my predictive powers amazing or what??!! OK, those predictive powers were really the result of an excellent editor at Texas Monthly, but you get the idea.
I believe you can read the whole thing. Incidentally, his key insight into Egypt comes on page 92: "Even if the secular Nasserite regime fell, it would be a generation before Egypt could be a threat, and then only if it gained the patronage of a major power." Ah, that explains why Israel is handling these events so calmly. Oh, wait...
For a fun exercise, see if Friedman's current analysis jibes with how he predicts the next decade.
Wednesday, November 17, 2010 - 9:19 AM
The only thing I dislike more than admitting I'm wrong is admitting that Spencer Ackerman was kinda sorta right.
Cautiously in March and then more confidently in July, I predicted that new START was going to be ratified. Right now, however, Josh Rogin reports that the odds don't look so hot:
Senate Minority Whip Jon Kyl (R-AZ), the key Republican vote in the drive to ratify the New START treaty, said Tuesday he doesn't believe the treaty should be voted on this year.
"When Majority Leader Harry Reid asked me if I thought the treaty could be considered in the lame duck session, I replied I did not think so given the combination of other work Congress must do and the complex and unresolved issues related to START and modernization," Kyl said in a statement. "I appreciate the recent effort by the Administration to address some of the issues that we have raised and I look forward to continuing to work with Senator Kerry, DOD, and DOE officials." ?
Kyl spoke with Defense Secretary Robert Gates about it last week. A possible meeting between Kyl, Biden, Gates, and Secretary of State Hillary Clinton is in the works and could happen on Wednesday. The treaty was approved by the Senate Foreign Relations Committee by a vote of 14 to 4 on Sept. 16, and is awaiting a vote on the Senate floor.
The Washington Post reported that the White House is offering an additional $4.1 billion for nuclear facilities. This latest offer comes on top of the other promises related to nuclear modernization, which have a price tag totaling over $80 billion, that the administration has offered in an effort to win over Senate Republicans.
I thought Kyl was making some not unreasonable requests back in the summer, but as near as I can read the Obama administration had pretty much given him what he wanted.
It's possible that the treaty will be ratified in the next Congress, though that's a tougher road, and there's now some bad blood between Kyl and the administration to work away.
Substantively, the treaty itself is not a nothingburger, but it's not that big a deal either. There are two implications that flow from Kyl's decision, however. First, he's given the Russians a great excuse to become even more obsteperous. As Bob Kagan pointed out earlier this month:
Few men are more cynical players than Vladimir Putin. One can well imagine Putin exploiting the failure of New START internally and externally. He will use it to stir more anti-Western nationalism, further weakening an already weak Medvedev and anyone else who stands for a more pro-Western approach. He will use it as an excuse to end further cooperation on Iran. He will certainly use it to win concessions from Europeans who already pander to him, charging that the Americans have destroyed the transatlantic rapprochement with Russia and that more concessions to Moscow will be necessary to repair the damage. There's no getting around it: Failure to pass START will help empower Putin.
Second, even if START passes eventually, this little episode, combined with the endless ongoing negotiations over KORUS, are highlighting the massive transaction costs involved with trying to negotiate any hard law arrangement with the United States. The rest of the world is now recalculating the cost-benefit ratio of doing business with the U.S. government.
Anyway, the real point of this post is that I was wrong... again. Let the pillorying in the comments section begin.
Monday, February 15, 2010 - 8:04 PM
Your humble blogger has a very long day-job to-do list the first half of this week. Still I can't resist not linking to this John Sides post from The Monkey Cage about why there's been a decline in in trust in government.
There was a secular decline in trust in government that levelled off after the Vietnam War started winding down. Since then? It's the economy, stupid:
What drives the trend in political trust? By and large, it is the economy. People trust government when times are good. They don’t trust it when times are bad. For the presidential election years from 1964-2008, I merged the trust measure with the change in per capita disposable income, courtesy of Douglas Hibbs. Here is the relationship between trust and the economy:
The relationship is striking. The economy explains about 75% of the variance in trust. If you delete 1964, which looks like a potential outlier, the economy still explains 73% of the variance.
Of course the economy is not the only important factor. But it gets far less attention than it deserves when the hand-wringing begins.
I suspect it gets less attention because its a structural factor that is largely beyond the control of politicians. It's also boring. It's like a diet guru simply saing "eat less and exercise more" when asked what the trendy explanation is for how to lose weight.
I wonder how generalizable the relationship is between trust and the economy. For example, would a booming economy make Americans more likely to trust business, the academy, and other institutions? Would it make Americans more likely to accept the evidence for global warming?
What do you think?
Sunday, October 11, 2009 - 9:54 PM
[T]he "global community" didn't honor the American President; five Norwegians did.
Glenn Greenwald, "Accusing Obama critics of 'standing with the terrorists,'" October 10, 2009
It's not clear to me (the committee) speaks for the world. It speaks for five Norwegians.
William Kristol, Fox News Sunday, October 11, 2009.
I'm not sure what scares me more: Kristol and Greenwald agreeing with each other... or me agreeing with both of them at the same time.
Wednesday, August 26, 2009 - 4:28 PM
Maureen Dowd has a column today entitled "Stung by the Perfect Sting." We're going to run much of this column through a little MoDo translator, partially inspired by Josh Chafetz's still-relevant discussion of the Immutable Laws of Maureen Dowd, and helped by a few other bloggers.
Here we go....
If I read all the vile stuff about me on the Internet, I’d never come to work. I’d scamper off and live my dream of being a cocktail waitress in a militia bar in Wyoming.
If you’re written about in a nasty way, it looms much larger for you than for anyone else. Gossip goes in one ear and out the other unless you’re the subject. Then, nobody’s skin is thick enough.
Translation: "I read everything about me on the Interwebs. Everything. And despite my bravado act, it hurts me sometimes. I'm brave for putting up with it, though. Ah, the first graf and I've already checked off the Fourth Immutable Law of Dowd: 'The particulars of my consumer-driven, self-involved life are of universal interest and reveal universal truths.'
Say, the militia crack was pretty funny, right? Right?"
“The velocity and volume on the Web are so great that nothing is forgotten and nothing is remembered,” says Leon Wieseltier, the literary editor of The New Republic. “The Internet is like closing time at a blue-collar bar in Boston. Everyone’s drunk and ugly and they’re going to pass out in a few minutes.”
Translation: "You know how, later on in this essay, I say that insulting individuals on the Internet is rude? That's only if you do it badly. If you insult broad swathes of people in a charming manner, that's just witty banter."
Those are my people, I protested, but I knew what he meant. That’s why I was interested in the Case of the Blond Model and the Malicious Blogger.
Translation: "Hah! Less than a third of the way through, and I've already checked off the First Immutable Law of Dowd: 'All political phenomena can be reduced to caricatures of the personalities involved.' Suck on that, Tom Friedman!!"
It began eight months ago when Liskula Cohen, a 37-year-old model and Australian Vogue cover girl, was surprised to find herself winning a “Skankiest in NYC” award from an anonymous blogger. The online tormentor put up noxious commentary on Google’s blogger.com, calling Cohen a “skank,” a “ho” and an “old hag” who “may have been hot 10 years ago.”
Cohen says she’s “a lover, not a fighter.” But the model had stood up for herself before. In 2007, at a New York club, she tried to stop a man named Samir Dervisevic who wanted to drink from the vodka bottle on her table. He hit her in the face with the bottle and gouged a hole “the size of a quarter,” as she put it, requiring plastic surgery.
Translation: "Did you like how I subtly compared the physical attacker to the blogger? That was pretty deft of me, right?"
This time, she punched the virtual bully in the face, filing a defamation suit to force Google to give up the blogger’s e-mail. And she won.
“The words ‘skank,’ ‘skanky’ and ‘ho’ carry a negative implication of sexual promiscuity,” wrote Justice Joan Madden of State Supreme Court in Manhattan, rejecting the Anonymous Blogger’s assertion that blogs are a modern soapbox designed for opinions, rants and invective.
The judge cited a Virginia court decision that the Internet’s “virtually unlimited, inexpensive and almost immediate means of communication” with the masses means “the dangers of its misuse cannot be ignored. The protection of the right to communicate anonymously must be balanced against the need to assure that those persons who choose to abuse the opportunities presented by this medium can be made to answer for such transgressions.”
Cyberbullies, she wrote, cannot hide “behind an illusory shield of purported First Amendment rights.”
Translation: "A judge is on my side! I'm going to quote her at length!"
[Side note here: will individuals also be able to sue those who write anonymously about them on bathroom walls soon?--DD]
The Internet was supposed to be the prolix paradise where there would be no more gatekeepers and everyone would finally have their say. We would express ourselves freely at any level, high or low, with no inhibitions.
Yet in this infinite realm of truth-telling, many want to hide. Who are these people prepared to tell you what they think, but not who they are? What is the mentality that lets them get in our face while wearing a mask? Shredding somebody’s character before the entire world and not being held accountable seems like the perfect sting.
Pseudonyms have a noble history. Revolutionaries in France, founding fathers and Soviet dissidents used them. The great poet Fernando Pessoa used heteronyms to write in different styles and even to review the work composed under his other names.
As Hugo Black wrote in 1960, “It is plain that anonymity has sometimes been assumed for the most constructive purposes.”
But on the Internet, it’s often less about being constructive and more about being cowardly.
Translation: "I bet no one knew about this phenomenon before I discovered it today. God, my insights into this -- some anonymous blogging is good, some bad -- are really stunning."
Dowd conveniently ignores a few important facts. First, there are power disparities going on here. If, say, the New York Times published a story calling Cohen a "skank," I can see the need for a lawsuit. Same thing if the Huffington Post had done it. But who the hell read this post before the lawsuit commanded everyon'es attention? As Laura McKenna puts it:
This just feels like a lot of whining to me. If you're on the opinion page of the New York Times, you have to be able to take the heat. It's part of the game. If you're not up for it, then I've got a waitress job for you.
Second, in Dowd's closing grafs she manages to conflate and tar all anonymous commentary because some act rudely on the Internet. This is the functional equivalent of me saying that because George Will is occasionally shoddy with his fact-checking, the entire op-ed profession is worthless and slanderous. Attacking an entire medium because of what some individuals are doing seems logically incoherent to me -- and yet far too many media commentators do this when talking about the blogosphere.
In my experience, anonymous or not, the quality of one's insights and shrewdness of one's observations are the things that tend to push a blogger up through the ranks.
If only that were still true of New York Times columnists.
UPDATE: For more on the legal intricacies of the motivating case, see this Dan Solove post.
Tuesday, August 25, 2009 - 5:09 PM
Philip Tetlock has a must-read review essay on political forecasting in the latest issue of The National Interest. Tetlock is the author of Expert Political Judgment, one of my all-time favorite books in political science.
Tetlock reviews books by three political prognosticators: Stratfor's George Friedman (who has been mocked just a bit by your humble blogger), FP and Eurasia's Ian Bremmer (who has been panned just a bit by your humble blogger) and Bruce Bueno de Mesquita (who was on your humble blogger's dissertation committee and is therefore the source of much Good and Light in the world).
You'll have to read Tetlock's essay to get his assessment of all three books -- but I do like this one-paragraph summary:
The authors are all entrepreneurial futurists, but each offers a strikingly distinctive approach to prediction. I organize these approaches under three headings: the superpundit model in which readers take it, more or less on faith, that the forecaster has a pipeline into the future not available to ordinary mortals (a category into which I place George Friedman’s The Next 100 Years); the technocratic-pluralism model in which the authors never get around to making falsifiable predictions of their own but do offer readers a pretty comprehensive survey of forecasting mistakes and an inventory of tools for avoiding them (a category into which I place Ian Bremmer and Preston Keat’s The Fat Tail); and the scientific-reductionist model in which the author embraces a particular theory from the social sciences and shows how, if you apply that theory thoughtfully to real-world contexts, you can derive surprisingly accurate forecasts (a category into which I place Bruce Bueno de Mesquita’s The Predictioneer’s Game).
What I found more intriguing was Tetlock's formulation for how to use pundits:
I wonder if such an exercise would actually work. One of the accusations levied against the foreign policy community is that because they only talk to and read each other, they all generate the same blinkered analysis. I'm not sure that's true, but it would be worth conducting this experiment to see whether a Village of Pundits does a better job than a single pundit.The best thing I can say for the superpundit model is likely to annoy virtually all of that ilk: they look a lot better when we blend them into a superpundit composite. Aggregation helps. As financial journalist James Surowiecki stressed in his insightful book The Wisdom of Crowds, if you average the predictions of many pundits, that average will typically outperform the individual predictions of the pundits from whom the averages were derived. This might sound magical, but averaging works when two fairly easily satisfied conditions are met: (1) the experts are mostly wrong, but they are wrong in different ways that tend to cancel out when you average; (2) the experts are right about some things, but they are right in partly overlapping ways that are amplified by averaging. Averaging improves the signal-to-noise ratio in a very noisy world.... From this perspective, if you want to improve your odds, you are better-off betting not on George Friedman but rather on a basket of averaged-out predictions from a broad ideological portfolio of George Friedman–style pundits. Diversification helps.
Wednesday, April 29, 2009 - 11:00 PM
Though I've been obsessed interested in the topic of a policy-relevant academy, I was reluctant to respond to Mark C. Taylor's op-ed in the New York Times on this topic because of a fear of personal bias. Taylor was a professor at Williams College when I was an undergraduate. I took a course called Religion and Modern Secularism there, which assigned Taylor's book Erring: A Postmodern A/theology. I found Taylor's application of deconstructionist thought to theology to be completely inpenetrable somewhat difficult to absorb. So my first thought when I read Taylor's plea for interdisciplinarity and accessibility in the academy to be along the lines of, "Great, 20 years late and $17 short."
Because Taylor's op-ed contains such a unique combination of useful ideas and complete and utter silliness not-so-useful ideas, however, a lot of people are talking about it.
Part of the problem lies in Taylor's inexact writing. Let's "deconstruct" it a bit, shall we? Here's how he opens the op-ed:
Graduate education is the Detroit of higher learning. Most graduate programs in American universities produce a product for which there is no market (candidates for teaching positions that do not exist) and develop skills for which there is diminishing demand (research in subfields within subfields and publication in journals read by no one other than a few like-minded colleagues), all at a rapidly rising cost (sometimes well over $100,000 in student loans).
See, with the $100,000 line, you'd think Taylor is talking about either professional schools or undergraduate degrees, but I don't think that's right. He's talking about doctoral programs. And, at this point, while graduate students in doctoral programs might earn meager to no stipends, the only debt they accumulate comes through living expenses. Say what you will about the job market for Ph.D.s, but at this point, the only way for a Ph.D. student to rack up a hundred grand in debt is to develop some serious gambling and drug problems while procrastinating (grad students of the world, feel free to disabuse me of this notion in the comments).
Similarly, the Detroit analogy implies that America's Ph.D. programs are somehow uncompetitive vis-à-vis foreign Ph.D. programs. This is patently false. Indeed, American higher education continues to outperform other university systems in attracting foreign students. So, again, inexact language muddies the waters. See TNR's David Bell for more on this point.
Taylor goes on to criticize my own field:
Just a few weeks ago, I attended a meeting of political scientists who had gathered to discuss why international relations theory had never considered the role of religion in society. Given the state of the world today, this is a significant oversight. There can be no adequate understanding of the most important issues we face when disciplines are cloistered from one another and operate on their own premises.
It would be far more effective to bring together people working on questions of religion, politics, history, economics, anthropology, sociology, literature, art, religion and philosophy to engage in comparative analysis of common problems.
Methinks Taylor is exaggerating the role that the humanities can play in problem-solving. That said, I have little problem with interdisciplinariy. Last I checked, however, neither do most policy schools.
Taylor makes some other concrete proposals - let's run through them:
1. "Restructure the curriculum, beginning with graduate programs and proceeding as quickly as possible to undergraduate programs." I partially agree with the first point. I'm all in favor of encouaging Ph.D. students to take courses that overlap with their substantive interests but might be outside their department. As for undergraduate programs, well, that's just silly. Undergrads have majors, not specialties -- they're quite capable of diversifying their own corsework, thank you very much.
2. "Abolish permanent departments, even for undergraduate education, and create problem-focused programs." Among the "problem-focused programs" he suggests are, "Mind, Body, Law, Information, Networks, Language, Space, Time, Media, Money, Life and Water."
Hey, this is a fun idea -- let's try to come up with other one-word concentrations!
Let's be clear -- this idea is crap. Utter, complete, ridiculous crap. There are plenty of interdisciplinary majors, and more are being created as new problems arise. Taylor's topics are so silly that I began to wonder if he was purposefully self-sabotaging here.
3. "Increase collaboration among institutions." Taylor implies here that universities could specialize, promoting learning "through teleconferencing and the Internet." At this point, I think it would behoove Taylor to chat with some of the people who study the relationship between computers and education. Long story short, distance learning has some serious constraints.
4. "Transform the traditional dissertation." Into something with "analytic treatments in formats from hypertext and Web sites to films and video games." Note to Fletcher Ph.D. students: don't even think of trying to argue that your blog can substitute for a dissertation. Not gonna happen.
5. "Expand the range of professional options for graduate students." This is a good idea. Seriously. No mockery on this point.
6. "Impose mandatory retirement and abolish tenure." You know how Democrats/Republicans were convinced that regulating money/imposing term limits would improve democracy? That's kind of like this proposal. It's not going to happen, but even if it did, tenure would re-emerge in a different form.
To sum up: this is a mostly silly, badly written op-ed that seems designed to provoke peals of laughter in order to scuttle the few good ideas contained in it.
Sunday, April 19, 2009 - 5:37 PM
Part IV of a continuing series on the relationship between international relations scholars and policymakers (click here, here, and here for prior posts).
William Easterly is not a political scientist, but he's a pretty good social scientist, so he gets a turn at FP's Speaker Corner:
I think academic social scientists have had TOO MUCH influence on one policy area -- military intervention (with sub-branches Spreading Democracy, Peacekeeping, and Fixing Failed States, formerly known as Nation Building). Economists have used shoddy econometrics and shallow analysis to justify such interventions, while political scientists seem to climb on board for reasons that I don't entirely fathom. Military intervention is such a drastic intervention that the burden of proof lies on those who advocate it, and social scientists have done a lousy job bearing that burden -- not surprising since military stuff is so far away from the traditional areas of knowledge of social science. The politicians and generals that wanted to intervene anyway are delighted to get the spurious cover offered by the amateur military analysts from the social sciences.
Incidentally, Easterly how has his own blog called Aid Watch, which is worth checking out -- particularly when he wrestles with God Jeffrey Sachs.
[Why didn't you continue the Star Wars theme in this post?--ed. Because nothing I could ever write, ever, could top this.]
Saturday, April 18, 2009 - 5:54 PM
A few more academic reactions to Joe Nye's essay (click here for Part I, and here for Part II).
First, a response from... well, let's call him/her "Political Scientist X," as this person wishes to remain anonymous. I can confirm that Political Scientist X has worked in both the academic and policy communities, and is well-versed in the kind of academic analysis that appeals to policymakers:
In my experience, rigor is a big selling point [to policymakers] It's what differentiates knowledge from conjecture and speculation, and many analysts and policy-makers are sensitive to that distinction. I think the real problem is that those analysts and policy-makers don't have the time to keep up with and consider the implications of the good work that's out there, because they are always so busy answering today's mail.
That said, I do agree with Dr. Nye that academia could and should put more effort into reaching out to and staying connected with the policy world. Scholars interested in shaping policy shouldn't wait for government to call; they should take time to write and talk about the policy implications of their work, and more journals and publishers should encourage them to do so.
Moreover, these implications have to be made explicit. It's not enough to write about something that's current and leave it to the policy people to figure out how to use the findings. Academics who want to shape policy also have to do the heavy lifting of saying what they think their research says about real policy choices. There's an obvious risk in doing that of being wrong in public or bearing some responsibility for the consequences of the policies that ensue. But the policy people have to take those risks every day, so why can't the scholars who want to influence policy shoulder a little more of the burden?
Another blog post response from James Walsh that's worth a look. His closing paragraph:
Policy relevance is important. But do we really want the academy stuffed with people who are up to date on the latest developments in country x? No. That's what think tanks and CIAs are for. We (by which I mean I, of course) want an academy with people that are interested in the bigger causes and consequences, and are trained to think about these things in a systematic way. How come? One of the best ways that academics can be policy relevant is to poke holes in dumb ideas. Every academic I know (bar one, and he was Canadian of all things) thought the invasion of Iraq was a dumb idea. They knew this based on their knowledge of the history of preventive war, positive theories about preventive war, and long thought about the normative implications of the use of force to make the world a better place. This is all stuff that gets downplayed in "policy circles," but if it was taken more seriously might at least prevent us from making the worst mistakes over and over again.
Friday, April 17, 2009 - 12:32 PM
Joe Nye has clearly touched a nerve.
There's been a lot of e-mail chatter among international relations professors about Nye's Washington Post op-ed arguing that IR scholars are cloister-bound and not policy relevant.
Some of these scholars have some interesting points/objections to make, but where oh where can they voice these points?
Why, this very blog! If you want to respond to Nye but don't want to set up your own blog about it, feel free to e-mail me your response for publication here. Assuming your response meets my personal standard of propriety (i.e., you don't personally insult Nye, myself, or Salma Hayek) I will publish it in the hallowed... er... website of Foreign Policy. [Can a website be hallowed?--ed. I'm announcing that policy, yes.]
Without further ado, here's the first response, from Georgetown University's Raj M. Desai and James Raymond Vreeland:
Coaching from the Sidelines
Professor Joseph Nye ("Scholars on the Sidelines"), who has a well-deserved reputation as both an eminent scholar of international relations and as a government official with experience in several previous administrations, laments a growing gap between academia and government. He asserts that the fault "lies not with the government but with the academics." This is unfair.
Nye complains about the methodological rigor in contemporary political science as an impediment to its relevance. This is ironic, given that it is precisely this rigor that has allowed modern political science to improve its forecasting power - something that is presumably vital to policymaking. We now have better statistical tools to predict, for example, the likelihood of state failure, civil conflict, democratic breakdown, and other changes in governments. Game-theoretic models can be used to analyze trade disputes and war, as well as the behavior of international organizations, terrorist movements, and nuclear states with greater precision and clarity than just a few decades before.
In our classes, we give students assignments designed to bridge what they learn in the classroom to the real world. There is certainly a connection, and our job is to teach our students to see it. We hope such a pedagogy is in the spirit of what Nye calls for, but we find his piece frustrating as he implies that such endeavors are fruitless because contemporary political science has nothing to say to the broader audience. This is just not true.
Nye is correct that much of this analysis does not get translated into policymaking. There is surely something to be said for the failure of some scholars to disseminate their research more broadly, and he is also right that academia does not provide strong incentives to do so. But a part of this fault may also lie within the halls of certain government agencies. Nye also points to a strong connection between economists and policy makers. No wonder. Staffers at the US Treasury, the Fed, the National Economic Council (to name a few places) are comfortable reading cutting-edge economic analyses because they have been trained to understand mathematical models and statistical results. If people at the State Department or the National Security Council have not been comparably trained, however, they will not understand contemporary political science or its capacity to inform policy. Academic political science can do a much better job of reaching out to policymakers. But governmental agencies need to focus some effort on recruiting individuals who have the background and skills needed to apply modern political science to their daily work. Both sides need to make an effort.
Raj M. Desai and James Raymond Vreeland
Edmund A. Walsh School of Foreign Service
Georgetown University
Tuesday, April 14, 2009 - 10:37 PM
It's not easy being an international relations scholar [Cue world's smallest violin!--ed.] When we're not being compared to AIG executives, we're being told that we are irrelevant to policymakers
Being swamped with work yesterday, a typically out-of-touch academic, it took me 24 hours to notice Joseph Nye's Washington Post op-ed about out-of-touch international relations scholars (thanks to Laura for flagging it):
While important American scholars such as Henry Kissinger and Zbigniew Brzezinski took high-level foreign policy positions in the past, that path has tended to be a one-way street. Not many top-ranked scholars of international relations are going into government, and even fewer return to contribute to academic theory. The 2008 Teaching, Research and International Policy (TRIP) poll, by the Institute for Theory and Practice in International Relations, showed that of the 25 scholars rated as producing the most interesting scholarship during the past five years, only three had ever held policy positions (two in the U.S. government and one in the United Nations). The fault for this growing gap lies not with the government but with the academics.
But... but... but what about hip IR scholar-bloggers?!
Even when academics supplement their usual trickle-down approach to policy by writing in journals, newspapers or blogs, or by consulting for candidates or public officials, they face many competitors for attention. More than 1,200 think tanks in the United States provide not only ideas but also experts ready to comment or consult at a moment's notice. Some of these new transmission belts serve as translators and additional outlets for academic ideas, but many add a bias provided by their founders and funders. As a group, think tanks are heterogeneous in scope, funding, ideology and location, but universities generally offer a more neutral viewpoint. While pluralism of institutional pathways is good for democracy, the policy process is diminished by the withdrawal of the academic community.
The solutions must come via a reappraisal within the academy itself. Departments should give greater weight to real-world relevance and impact in hiring and promoting young scholars. Journals could place greater weight on relevance in evaluating submissions. Studies of specific regions deserve more attention. Universities could facilitate interest in the world by giving junior faculty members greater incentives to participate in it. That should include greater toleration of unpopular policy positions. One could multiply such useful suggestions, but young people should not hold their breath waiting for them to be implemented. If anything, the trends in academic life seem to be headed in the opposite direction.
Nye is -- mostly -- preaching to the converted here. Right now, the strictures against junior faculty taking an interest in the policymaking world are very, very strong. A decade ago, for example, I received a fellowship that allowed me to spend a year in the government. At the time, a senior member of my old department flat-out advised me against taking it because it would taint my career with the whiff of policy. I showed him. Oh, wait...
That said, just to throw some sand in Nye's gears, I don't accept that this is only the academy's fault. Even when IR scholars try to speak with one loud voice, the result is often a deafening silence in the policy world.
As for individual scholars, the political barriers to government service by aspiring academics are pretty high at this point. Academics have long paper trails that are easy to manipulate, and politicians are well aware of this Achilles Heel. Exhibit A: the Obama administration's vetting process. Exhibit B: Harold H. Koh.
Note what I've just done here. Rather than offer my full-throated support for Joe's eminently sensible advice, I thought about this critically and then offered some... criticisms. This skill lets academics excel at cutting down other ideas to size. It makes it far harder, however, for IR scholars to offer constructive, useful policy advice.
Which is why Joe is so unique.
See Henry Farrell and Peter Howard for further academic-y reflections on Nye.
Tuesday, April 7, 2009 - 4:53 PM
As part of their Great Issues Forum, CUNY's Graduate Center for the Humanities asked me to comment on a blog I'd never read before last month -- the Angry Arab News Service. They asked that blog's author -- As'ad AbuKhalil, a professor of political science at Cal State-Stanislaus and visiting professor at Berkeley. -- to do the same for me.
You can read our contrasting takes over at the Great Issues Forum website. Professor AbuKhalil's best and most devastating sentence:
I followed Drezner’s blog for a few days and it made me wonder: am I that narcissistic and that self-referential?
Hey, with the obvious exception of Alex Rodriguez, no one is as narcissistic and self-referential as I am, OK?!!
Click here to read the whole thing. We agree a lot -- on what we disagree about (this includes paragraph breaks, by the way).
Monday, April 6, 2009 - 3:02 PM
Major League Baseball starts in earnest today. As longtime readers of this blog are aware, I am a diehard Red Sox fan. They are playing in what everyone acknowledges to be the toughest division in baseball, with three teams -- the Sox, Rays and Yankees -- fully capable of winning a World Series this year.
What will be odd, this time around, is that during this offseason the Red Sox did something really, really astonishing -- they followed a lot of the unsolicited recommendations I made 3 1/2 months ago (just to be clear, I'm arguing coincidence and not causation here).
Still, this raises an existential question as a fan -- what happens if your team does almost exactly what you recommend they do, but they don't win? Who can you blame then?
[Um, what if they do win?--ed. I'm a Red Sox fan. Times have changed, but I can still go to the dark place.]
Both the Hardball Times and Baseball Prospectus like these movies, so I'm hardly alone here. When comparing the Red Sox to the Yankees and Rays, what strikes me about the Sox is the (on paper) relative strength of their bullpen, bench, and farm system. Over a 162 game season, that has to count for something.
Of course, no matter what Moneyball says, you don't play games on paper. Play ball!!
Monday, March 30, 2009 - 1:48 PM
Newsweek has two long profiles this week -- one on Tim Geithner, and one on Paul Krugman.
The Krugman profile was more interesting, because Evan Thomas managed to encapsulate my own feelings whenever I read Krugman these days:
If you are of the establishment persuasion (and I am), reading Krugman makes you uneasy. You hope he's wrong, and you sense he's being a little harsh (especially about Geithner), but you have a creeping feeling that he knows something that others cannot, or will not, see. By definition, establishments believe in propping up the existing order. Members of the ruling class have a vested interest in keeping things pretty much the way they are. Safeguarding the status quo, protecting traditional institutions, can be healthy and useful, stabilizing and reassuring. But sometimes, beneath the pleasant murmur and tinkle of cocktails, the old guard cannot hear the sound of ice cracking. The in crowd of any age can be deceived by self-confidence, as Liaquat Ahamed has shown in "Lords of Finance," his new book about the folly of central bankers before the Great Depression, and David Halberstam revealed in his Vietnam War classic, "The Best and the Brightest." Krugman may be exaggerating the decay of the financial system or the devotion of Obama's team to preserving it. But what if he's right, or part right? What if President Obama is squandering his only chance to step in and nationalize—well, maybe not nationalize, that loaded word—but restructure the banks before they collapse altogether?
The fundamental question is whether Krugman is a brilliant hedgehog, an insecure pain in the ass, or -- as frequently is the case -- both at the same time.
The rest of Thomas' essay does suggest a little pique on Krugman's part:
Obama aides have invited commentators of all persuasions to the White House for some off-the-record stroking; in February, after Krugman's fellow Times op-ed columnist David Brooks wrote a critical column accusing Obama of overreaching, Brooks, a moderate Republican, was cajoled by three different aides and by the president himself, who just happened to drop by. But, says Krugman, "the White House has done very little by way of serious outreach. I've never met Obama. He pronounced my name wrong"—when, at a press conference, the president, with a slight note of irritation in his voice, invited Krugman (pronounced with an "oo," not an "uh" sound) to offer a better plan for fixing the banking system.
This kind of lament suggests that Krugman is less the lonely voice of reason and more someone who wishes he was on the inside looking out. And yet, what if he's right?
The Geithner essay, by Michael Hirsch, suggests that that the Treasury Secretary is finally hitting his stride. One would ordinarily dismiss this as a standard magazine puff piece, but Hirsch isn't really known for writing those. It's worth reading, side by side, with our own David Rothkopf's jeremiad against mild tweaking of Geithner in yesterday's Washington Post ("he looks like Harry Potter").
Monday, March 16, 2009 - 10:53 PM
Since I'm apparently picking on the New York Times op-ed page today, it's worth linking and quoting from George Packer's one-paragraph evisceration of how the Times' columnists have weathered the financial crisis:
These days, it’s striking that the Times’s columnists seem unable to contend with the earthquake rolling under our feet. With the whole world undergoing a once-in-a-lifetime upheaval, the stars of the Op-Ed page have almost without exception fallen back on the comfort of well-worn stances and personality tics, which are the habitual danger of publishing one’s thoughts every week for years. Friedman, who knows a lot about economics but has too much faith in elites, calls for a summit of “the country’s 20 leading bankers, 20 leading industrialists, 20 top market economists and the Democratic and Republican leaders in the House and Senate,” as if these very individuals are not the main agents of the catastrophe. Dowd publishes a column of inadvertent self-parody whose subject is Michelle Obama’s arms, and whose sum total of reporting is a conversation in a Washington taxi with her fellow columnist David Brooks. Kristof continues to call necessary attention to chronic, less-noticed disasters, but he does it more and more by making himself the hero of a moral drama and, in a recent series of columns from Darfur, insulting his readers with the suggestion that they’re too shallow to read on unless he bribes them with celebrity gossip. Rich never challenges his own side, and the result is a weekly display of rhetorical bravura and cheap shots. Bob Herbert has one tone of voice, and as often as outrage is called for, it’s also tiresome. Only Brooks and Krugman seem to be registering the earthquake in a meaningful way, asking themselves difficult questions on a regular basis and struggling out in the open with the answers, which is why the page is at its best on Friday.
Indeed.
Monday, March 16, 2009 - 1:07 PM
Bloggers at Foreign Policy and elsewhere have discovered Strange New Respect for IHT/NYT columnist Roger Cohen. Cohen has been writing a fair amount about the Middle East as of late. I've been, well, less enamored of Cohen's writing, though in fairness to him I'm tough on all foreign affairs columnists.
This brings us to today's Cohen column, and the paradox contained in his last few paragraphs. Cohen's recent columns have been all about his trip to Iran, in which he accurately described a country that was not spending every waking moment plotting to destroy the United States.
Today's column points to the pragmatism of Iran's leadership and urges the United States to be equally pragmatic:
Pragmatism is also one way of looking at Iran’s nuclear program. A state facing a nuclear-armed Israel and Pakistan, American invasions in neighboring Iraq and Afghanistan, and noting North Korea’s immunity from assault, might reasonably conclude that preserving the revolution requires nuclear resolve.
What’s required is American pragmatism in return, one that convinces the mullahs that their survival is served by stopping short of a bomb.
I completely agree with the first excerpted paragraph of Cohen's column -- which is why I don't buy the second paragraph.
As Cohen ably demonstrates, Iran's leadership sees a lot of threats in its near abroad and recognizes the utility of a nuclear deterrent. What can the United States possibly offer that would convince Iran's mullahs to give that up?
Security guarantees? Accepting those is not terribly pragmatic from Iran's perspective. Why should Iran trust the United States' word on this? From Tehran's perspective, would you trust the ability of the Obama administraion to rein in Israel?
The lifting of financial sanctions? As Iran's mullahs might put this, whoop-dee-frickin-doo. Rachel Loeffler argues that these sanctions carry some bite, but the nuclear program is a domestic crowd-pleaser and offers the hope of policy autonomy that a lifting of sanctions does not provide. The only sanction that would really hurt Tehran enough to buckle is a gasoline embargo, and the Russians and Chinese will never sign on to one of those.
Pragmatically, I seriously doubt that the United States can offer anything to get Tehran to halt its nuclear program. This leads to one of two possible decisions: pre-emptive action to delay the program, or accepting the inevitable.
Contra Cohen, the most pragmatic thing for the United States to do is to expect nothing fruitful to come from negotiations with Iran -- and to (nonviolently) prepare for the contingency of a nuclear Iran.
A question to my realist colleagues here at FP -- why on God's green earth would Iran ever accede to an agreement whereby it gives up any autonomy in its nuclear program?
Tuesday, February 17, 2009 - 10:51 PM
Philip Weiss posts today about an old bloggingheads exchange I had with Henry Farrell as follows:
The Boston Globe has a little piece following up the bogus controversy started by Jonathan Chait when he wrote that Steve Walt did not hurt his career by writing, The Israel Lobby. Chait is wrong, and either foolishly misleading, or fraudulently so. A statement on this matter from the New Republic, which called Walt an antisemite, has the same authority as, say, Roy Cohn's opinion on whether there was a blacklist in Hollywood. Now Daniel Drezner has taken up the issue, in a further motion of deceiving the public about the power of the Israel lobby.
Some day maybe I'll tell these academics about New York journalism...
Weiss doesn't have any contact information on his blog, so I'll just ask him here. Please do tell me about New York journalism. Seriously. I want to know what evidence Weiss has for his claims beyond mere assertion.
And, in the process, I'd love for Weiss to describe exactly what I said in my bloggingheads exchange that was, "a further motion of deceiving the public about the power of the Israel lobby." He seems to think that I was refuting the notion that The Israel Lobby cost Walt a DC job. I'm pretty sure I said that Walt not getting a DC job is an overdetermined outcome, of which publishing The Israel Lobby is certainly one viable explanation. Weiss' evidence for this explanation, a quote from Walt, is not particularly persuasive. There are many other explanations, some of which might be less flattering to my esteemed co-blogger.
Some day, maybe, I'll tell those New York journalists about the academic-policymaker pipeline...
As much as I love doing bloggingheads, this is the second time in two months someone has twisted what I said way out in one of those diavlogs of context. I attribute this to be an occupational hazard of moving to Foreignpolicy.com.
Damn you, Moises Naim!! Damn you to hell!!!
Friday, February 6, 2009 - 8:02 AM
Shorter Paul Krugman: "We're headed for deflation and depression, we need a really big stimulus, and if Barack Obama keeps trying to placate Republicans in the name of post-partisanship, we're all gonna be living in grass huts."
Shorter David Brooks: "There's a new coalition of moderates asking sensible questions about waste in the stimulus package, and if Barack Obama keeps trying to placate liberal interest groups and Congressman, we're all gonna continue to live in the era of extreme partisanship."
Intriguingly enough, there is one point on which both Brooks and Krugman agree -- Barack Obama has been surprisingly passive during the drafting of the stimulus bills.
I think there's a way to thread the needle. If all the moderates want is to trim the package a little, then Obama could likely get yes votes from GOP moderates. That would (just) be enough for him to claim bipartisan support, and then a package is passed. I don't think it would be large enough for Krugman's tastes, but on the other hand I'm hard-pressed to believe that ust another $100 billion in stimulus is the difference between recovery and grass huts.
This, by the way, is the most pernicious effect of the entire financial meltdown on fiscal policy. When $100 billion no longer seems like a significant sum of money, it's time for a good stiff drink.
Tuesday, February 3, 2009 - 4:54 AM
Via Andrew Sullivan, I see that Thomas P.M. Barnett is a wee bit nervous about the impending release of his book:
I am not feeling very optimistic about the book's reception. I just don't sense any buzz. Maybe that's because I'm living in Indiana under a foot and a half of snow, but it does haunt me. Far more than passing kidney stones, I feel like waiting on a book release is like a woman waiting for labor--mostly it's dread and regret and the inability to get a decent night's sleep.
I know that's being self-absorbed, but--again--that's why it's like heading toward labor: there is this all-consuming sense of an onrush of something either very good or very bad and you have a hard time sensing the possibility of anything in between those two extremes.
As someone who is also waiting on a book to come out, I sympathize with Barnett's pain. I suspect, however, that his agita is actually worse than a garden-variety book author.
This has to do with the nature of book publishing and the state of the world. When publishing a book, all international relations authors not named Bob Woodward must endure a 3-12 month window during which the book is copyedited, typeset, and then published. During this period, an author can make limited changes to the text -- but nothing significant.
This gap doesn't matter all that much -- unless, of course, one is writing about world politics in a time of flux. In that case, authors feel like a hostage to current events. And because of the financial crisis, I've read an awful lot of first chapters recently that seemed out of date the moment they were published.
Thursday, January 1, 2009 - 3:41 AM
Wednesday, December 31, 2008 - 1:38 AM
There are some guests who simply refuse to go on the air with other particular people or with anyone at all. Likewise, there are some people who no one else wants to appear with. It's rarely discussed, because the bookers who mediate these ego wars are bound by contract—and their own interests—to keep quiet. And hosts rarely mention the snubs on-air, since they want guests to come back. But snubbing happens all the time, and conversations with bookers, producers, and guests reveal that some divas are especially notorious.This part stood out for me:
The biggest offenders are usually the ones whose egos are too big to accommodate any company: Henry Kissinger, Zbigniew Brzezinski, Alexander Haig, and others who figure they have better uses for their time than debating some flack on the air. "They would only go on if they could do the show alone," says a former producer for Crossfire. "Brzezinski won't debase his cable currency by being a two-box," explained a current booker, referring to the practice of displaying guests on a split screen. Another booker cited Brzezinski's refusal to go on with Pat Buchanan—"probably because he thinks he's an anti-Semite." (An assistant to Brzezinski says: "It isn't true that he will only appear alone. He has appeared many, many times with other guests." Maybe so. But bookers say he doesn't do so willingly.)Here's a piece of advice to TV bookers -- surprise these mooseheads with another guest just before they're going to go on. Why? Because, in my experience, when mooseheads at the Kissinger-Brzezinski level are alllowed to pontificate at will, they are unbelievably boring and rote. On the other hand, they are at their best precisely when they are challenged by someone. Maybe they get riled up at having their authority questioned, or maybe they want to smack down the young whippersnapper tring to unseat the Pundit King. All I know is, when they are poked and prodded, the analytical sharpness that got them to their exalted position comes out, and then the fun starts. I've seen this in person -- but Josh Marshall David Kurtz captures an example of this on video. Zbigniew Brzezinski doesn't like it when he's challenged on the Middle East -- watch what happens:
Oh, and it makes for good TV -- though in this case it has the added frisson of Mika Brzezinski's uncomfortable body language.
Monday, December 29, 2008 - 2:49 PM
If you can fake authenticity in the new year, you will have it made. Authenticity was already a buzzword in business and politics before the credit crunch. It will become an essential virtue following the curtain twitch that revealed so many Masters of the Universe to be Wizards of Oz. At one executive leadership seminar I attended recently, the trainer explained that authenticity was the main attribute delegates needed to radiate, including “different types of authenticity for different audiences”. This means being a technocrat in the boardroom, a pragmatist among middle managers and an Average Joe on the shop floor.One does wonder if this increases the likelihood of bloggers -- who were in on the ground floor of this whole "constructed authenticity" deal -- making it in the corporate world.
Thursday, December 11, 2008 - 7:30 PM
Four new power brokers—Asian sovereign investors, petrodollars, hedge funds, and private equity firms—are having a growing impact on global capital markets. In this update to a 2007 report, MGI examines how the new power brokers have fared since then, during the turmoil of skyrocketing oil prices, evaporating liquidity, and disappearing leverage.MGI finds that the financial and economic events since mid-2007 have, if anything, accelerated the trends identified earlier: The power brokers' wealth and clout have grown. They have adapted by expanding their investment strategies. And they have increased the use of private financing as an alternative to public markets. Their actions have brought clear benefits in containing the financial market crisis but also have highlighted the risks associated with their rise....
Despite the financial crisis, MGI projects that the power brokers will continue to grow in wealth and clout. Under a conservative, base–case scenario, their combined assets will grow to $21 trillion (excluding overlap between them) by 2013. If, instead, they grow more briskly, at their 2000 to 2007 pace, their wealth would rise to $31 trillion, equivalent to roughly 60 percent the expected size of global pension funds or mutual funds in 2013.
The rapid rise of the new power brokers also poses potential risks. The report examines four main concerns: that the additional liquidity might foster asset price inflation; that state investors might use their wealth for political purposes; that hedge fund failures might destabilize the financial system; and that private equity firms' heavy leverage might increase credit defaults. MGI concludes these concerns remain on the table and justify careful consideration and monitoring. But overall, the rise of these new power brokers has been largely beneficial to global capital markets.
The possibility of hedge funds destabilizing the system certainly remains in play, but most of the rest of this looks pretty silly. Of MGI's four new power brokers, only Asian sovereign investors still look like their power will be growing.
I really don't mean to pick on McKinsey. In fact, readers are strongly encouraged to comb through the archives of danieldrezner.com to see what I got wrong. Here's my prediction post from the end of last year -- I only batted .500, but I do think I got the big things right.
Wednesday, October 15, 2008 - 3:27 PM
Here’s the really odd thing about this. The number of “David Brooks” slots out there—opportunities for a token moderate conservative or libertarian at an otherwise liberal-leaning mainstream publication—are vanishingly tiny. I’m actually hard pressed to think of an obvious example other than Brooks and maybe Ross Douthat, but at any rate, I’m pretty sure they can be counted on the fingers of one hand. If you’re in the very small pool of realistic contenders for that slot, I guess it might be a rational career strategy. If you’re not, it might still be good for a one-shot “even the conservative…” op-ed or TV spot. But on the whole, it’s not gonna do you that much good. You’re still going to be the freak. If you’re willing to toe a straight party line, on the other hand, let’s face it, you can be pretty damn mediocre and still carve out a nice little niche for yourself at any one of a welter of generously funded ideological publications and think tanks. Sure, it’s a smaller pond, but you get to be a relatively big fish.Of course, in his list of moderate Republicans, Sanchez omits the almighty David Gergen, and in doing so misses one whopping incentive to go moderate -- it sets Jessi Klein's heart a-flutter:
The moment I realized my feelings were more serious was in late September, right after the first presidential debate. Gergen was on for hours, and I found myself on the couch, riveted, a glass of Cabernet by my feet, hands wrapped around my knees as I leaned forward to capture every word, every thought, every—oh, be still my fluttering heart, was that a little chuckle? And then all of a sudden my face felt hot. I was blushing. I was loving David Gergen. How do I love David Gergen? Let me count the ways.... I love that his name is Gergen. Gerrrrr-gen. I don’t know the real origin of the name, but it’s a quirky, comforting sound with an onomatopoeic quality to it. Like the little pleasure noise you make under your breath when you’re home in your pajamas and you hear someone on the TV making consistent, rational sense.There's more adoration on Klein's blog.
Daniel W. Drezner is professor of international politics at the Fletcher School of Law and Diplomacy at Tufts University.
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