Monday September 25, 2006

ECONOMICS MADE EASY. A conservative idea du jour -- that our declining wages don't matter because we have iPods and Starbucks -- is, unbelievably, made even stupider by the folks at Asymmetrical Information. Jane Galt:

But let's say we could find someone who makes $29,931 today, and remembers the 1970's. Do you think that if you offered to send him back to 1973, with 4% more than the 1973 median income, he'd take you up on the deal?...

Personally, I wouldn't take the deal... and not just because I'd be the one stuck at home trying to make the Harvest Gold drapes match the new Avocado refrigerator. 1973 means no internet. No cell phones. No cheap air travel to exotic foreign climes...

The mind reels. Do these people really think that, if we want our wages to go up -- as Americans used to be able to expect -- it also means that we want to go backward in time and disdain modern conveniences? Apparently -- here's Galt's colleague Winterspeak:

It's hard to take dour, left-wing academics seriously when the moan about how little things have improved for the common man while they pull links, citations, and documents from all over the planet electronically, and then post their thoughts to an audience of thousands, again all over the planet, without leaving their desks, with a technology that's cheap as chips today, and could not be found anywhere a decade ago. The truth is we live in an age of Wonders.

Grumpy liberals want you to live like 70s cavemen! If it were up to them, you wouldn't have Grand Theft Auto. So shut up and work, drone!

Neither Galt nor Winterspeak name the mechanism of action by which we trade purchasing power for mod cons. Maybe there's a Star Chamber of Commerce that decrees things like, "Allow us lay off 10,000 auto workers and make everyone in those communities work at McDonald's, and you can have Clarinex and flat-screen TVs."

More likely, they haven't thought of how it might work, but decided that a positive-sounding message was all the explanation anyone would ever need. This is America, after all, where no one likes a Gloomy Gus or a Negative Noam.

If it takes, I can imagine how their intellectual method will roll out all over the right-wing world:

"Thirty American troops were blown up in Baghdad today! We have to do something!" "Look at that sky! It's a beautiful, sun-shiney day. I suppose you want go back to before the invasion, when there were occasional showers?"

Conversely:

"The new Green Day album sucks. This is what happens when you block Social Security reform."