Just so I don't lose it, here is a list of "Themes" that define Austrian economics, taken from ThinkMarkets:
(1) the subjective, yet socially embedded, quality of human decision making; (2) the individual’s perception of the passage of time (‘real time’); (3) the radical uncertainty of expectations; (4) the decentralization of explicit and tacit knowledge in society; (5) the dynamic market processes generated by individual action, especially entrepreneurship; (6) the function of the price system in transmitting knowledge; (7) the supplementary role of cultural norms and other cultural products (‘institutions’) in conveying knowledge; and (8) the spontaneous – that is, not centrally directed – evolution of social institutions.
Whatever one's school of economics, it seems that if it ignores some or all of these things, it can't possibly be going a good job of capturing what's really going on. I don't know enough about Keynesianism to say categorically that it doesn't include all or even some of these things, but it's my impression that it doesn't, and certainly I haven't see any Keyensian make mention of them, and in particular that macro formula that seems to be 90% of Keynesianism that Garth and others have quoted and discussed on wc-talk which has about 5-6 aggregate-level variables.
Friday, November 27, 2009
Thursday, November 5, 2009
Rebranding "libertarianism"
I posted this as a comment on the Beacon, but decided it made for a decent enough post here, so I'll copy and paste it:
There's a reasonable argument to be made that a new term is required, that "libertarian" has so much baggage that it can never be resuscitated... The venues in which most people participate in any discussions aren't much more sophisticated than children's playgrounds and the rules for playgrounds seem to apply there, so that meaningless name-knockoffs like "libertard" actually seem to have a lot of (negative) influence on people who might otherwise be sympathetic.
"Classical liberal" isn't *so* bad but "liberal" has so much non-libertarian meaning attached to it now that I'm not sure it works. I see some merit in the term "liberaltarian" - when forced to give a label, that's usually what I use - but it may not be different enough from "libertarian" to work, and besides, it kind of represents one "half" of libertarians, squeezing out those more closely associated with "paleo-libertarianism".
The LP has made a huge mess of this branding. Their rhetoric is so "me-me-me" and "angry" that it alienates many who, as you say, are basically culturally liberal and fiscally conservative but don't see themselves as revolutionaries or rebels, just rather people who think fiscal conservatism and cultural liberalism are preferable to their alternatives. Calling yourself "the Party of Principle" amounts to an inference that if you aren't already in the LP, you don't have "principles", again alienating many who would otherwise be sympathetic.
It seems to me that what is needed is something much more lowkey and something much more positive-sounding and inclusive rather than embattled and angry; not just a term, but also the accompanying "elevator speech". Libertarianism and LP's focus on "force" is unintuitive and difficult to understand in a casual way; while I think that the principle is intellectually crucial, I don't think that intellectualism has to also be the branding.
The current association of libertarianism with a fierce individuality and focus on freedom is likewise counterproductive: people *want* to be part of collectives, we all understand that risks are less when we are parts of collectives, that there are economies of scale that come from collectives, etc. They see a disconnect between this individuality/freedom message and all the collectives that give them comfort: their family, their community, the company they work for, their clubs, their churches, their country and its national defense, etc. And "freedom" is a poor marketing message: it's too selfish. It is almost always described in selfish terms: "*I* should be free to do what I want to do...", etc. It gives an impression of irresponsibility, as people will fill in "you want to do what you want to do... and not be responsible for its consequences (and perhaps not anything else)."
A rebranding needs to be done that speaks simply to this huge group of fiscally conservative, culturally liberal people. It needs to speak in terms of what *they* get out of it, not what *you* get out of it. It needs to speak to an acknowledgment and even an embrace of collectives - voluntary, of course, but that can be in the fine print - and the sense of connectedness and responsibility that is important to them.
I am not a marketer, so I'm better at describing "requirements" than I am with coming up with a solution. The term that I've been kicking around the most - and I freely admit it has issues - is some variant of "Responsibility". The notion that freedom and responsibility go hand and hand is well known, but libertarian branding has focused on the former much more than the latter, and this may have been a branding mistake, for the reasons I give before. For the large section of people that are comfortable with and want to be part of collectives, who want the "safety nets" that come from collectives, etc., but just think that fiscal policy should be conservative and that government should stay out of people's personal lives, a focus on "responsibility" may work. In no way does it hint at a free ride, and it doesn't offend the sensibilities of those who *do* think that people should be "responsible" for helping other people in the sense that it's "the right thing to do". But "responsibility" captures the notion that no one can shirk their responsibilities by foisting them off on the government to do them; we have to take that responsibility on ourself. And because freedom and responsibility have to go together - you can't be responsible for something if you didn't have freedom to make a different choice - freedom comes along, including its manifestation in law and government.
There's a reasonable argument to be made that a new term is required, that "libertarian" has so much baggage that it can never be resuscitated... The venues in which most people participate in any discussions aren't much more sophisticated than children's playgrounds and the rules for playgrounds seem to apply there, so that meaningless name-knockoffs like "libertard" actually seem to have a lot of (negative) influence on people who might otherwise be sympathetic.
"Classical liberal" isn't *so* bad but "liberal" has so much non-libertarian meaning attached to it now that I'm not sure it works. I see some merit in the term "liberaltarian" - when forced to give a label, that's usually what I use - but it may not be different enough from "libertarian" to work, and besides, it kind of represents one "half" of libertarians, squeezing out those more closely associated with "paleo-libertarianism".
The LP has made a huge mess of this branding. Their rhetoric is so "me-me-me" and "angry" that it alienates many who, as you say, are basically culturally liberal and fiscally conservative but don't see themselves as revolutionaries or rebels, just rather people who think fiscal conservatism and cultural liberalism are preferable to their alternatives. Calling yourself "the Party of Principle" amounts to an inference that if you aren't already in the LP, you don't have "principles", again alienating many who would otherwise be sympathetic.
It seems to me that what is needed is something much more lowkey and something much more positive-sounding and inclusive rather than embattled and angry; not just a term, but also the accompanying "elevator speech". Libertarianism and LP's focus on "force" is unintuitive and difficult to understand in a casual way; while I think that the principle is intellectually crucial, I don't think that intellectualism has to also be the branding.
The current association of libertarianism with a fierce individuality and focus on freedom is likewise counterproductive: people *want* to be part of collectives, we all understand that risks are less when we are parts of collectives, that there are economies of scale that come from collectives, etc. They see a disconnect between this individuality/freedom message and all the collectives that give them comfort: their family, their community, the company they work for, their clubs, their churches, their country and its national defense, etc. And "freedom" is a poor marketing message: it's too selfish. It is almost always described in selfish terms: "*I* should be free to do what I want to do...", etc. It gives an impression of irresponsibility, as people will fill in "you want to do what you want to do... and not be responsible for its consequences (and perhaps not anything else)."
A rebranding needs to be done that speaks simply to this huge group of fiscally conservative, culturally liberal people. It needs to speak in terms of what *they* get out of it, not what *you* get out of it. It needs to speak to an acknowledgment and even an embrace of collectives - voluntary, of course, but that can be in the fine print - and the sense of connectedness and responsibility that is important to them.
I am not a marketer, so I'm better at describing "requirements" than I am with coming up with a solution. The term that I've been kicking around the most - and I freely admit it has issues - is some variant of "Responsibility". The notion that freedom and responsibility go hand and hand is well known, but libertarian branding has focused on the former much more than the latter, and this may have been a branding mistake, for the reasons I give before. For the large section of people that are comfortable with and want to be part of collectives, who want the "safety nets" that come from collectives, etc., but just think that fiscal policy should be conservative and that government should stay out of people's personal lives, a focus on "responsibility" may work. In no way does it hint at a free ride, and it doesn't offend the sensibilities of those who *do* think that people should be "responsible" for helping other people in the sense that it's "the right thing to do". But "responsibility" captures the notion that no one can shirk their responsibilities by foisting them off on the government to do them; we have to take that responsibility on ourself. And because freedom and responsibility have to go together - you can't be responsible for something if you didn't have freedom to make a different choice - freedom comes along, including its manifestation in law and government.
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