Letters to the Editor
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Oooo, this is intriguing
While I can’t say that I’m a fan of the name “libertarian paternalism” for this movement, they are definitely on to something that is sorely needed today in our shallow political landscape.
The traditional labels of “conservative” and “liberal” are tired, out of date, and frankly stupid – these are labels hurled back and forth by political gasbags to conveniently label viewpoints. We can now see more clearly than ever what a total crock so-called conservatism has become, with multi-millionaires and large corporations coming hat-in-hand to the government for bailouts because they are “too big to fail.”
Likewise, many people on the far left are rather uninformed about the unintended economic consequences of too much regulation and high taxes – which can sometimes make the problems worse that they are trying to solve, though at least they tend to be less disingenuous than the hypocrites of the Right.
Economists are human too, and the “Dismal Science” is notoriously faddish when it comes to embracing trends. The Keynesian revolution of the 1930s was replaced by the supply-side model of the Chicago school in the 1970s and 1980s, which is looking more and more hollow by the year. The emperor wears no clothes!
I would be interested in knowing what the authors’ views would be about the tax code. Everyone knows that the American tax system is ungainly, wasteful, corrupt and just too complex. To me it seems that “libertarian paternalism” could easily be abused by special interest, indeed it already is via tax breaks, credits etc. for this moneyed interest or that. What fixes would the authors recommend in applying their ideas to the tax code, and how would they prevent this sort of abuse? I would be greatly interested in knowing more.
While I have a hard time agreeing with a couple of the specifics in the editorial, the power of its philosophical appeal cannot be denied. It seems to offer a way out of the tired Reaganite dichotomy of conservative/liberal and is another reason why I’m for Obama even though I don’t agree with all his positions. We need a different direction in the discussion. I can't think of a more important subject that affects us all today.