Saturday, September 4, 2004
Does industrial policy actually work?
The crux of the debate about the costs and benefits of economic globalization centers around how to interpret the East Asian miracle. To advocates of economic liberalization (Xavier Sala-i-Martin, Martin Wolf, Surjit Bhalla, Brink Lindsey), the success of the Pacific Rim is due to the focus on export promotion, and the 1997-99 crisis the fault of crony capitalism coming home to roost. To skeptics of economic liberalization (Dani Rodrik, Joseph Stiglitz, Robert Wade), the success of the Pacific Rim is due to the selective protectionism and smart industrial policies pursued by the relevant states, and the 1997-99 crisis the fault of financial liberalization coming home to roost.
With this set-up, Marcus Noland has an Institute for International Economics working paper on whether South Korea's industrial policy was actually "effective." Here's the abstract:
Before everyone jumps up and down, bear the paper's closing paragraph in mind:
Friday, September 3, 2004
This should be interesting...
My APSA panel on blogs and politics is today. Andrew Sullivan, Wonkette, and Cass Sunstein on the same dias -- not to mention Henry Farrell and Laura McKenna from 11D -- and all I have to do is sit back and listen.
I'll post an "after-action report" once I've recovered from the numerous drinks that will undoubtedly be consumed after the panel.
BEFORE-DRINKS AFTER-ACTION UPDATE: Well, Andrew didn't show up, but by APSA standards the panel was a huge success -- I'd say
For an mostly accurate accounting of the panel, check out Steve the Llama Butchers' liveblogging. My favorite bits:
See also Richard Skinner, Eszter Hargittai, Chris Lawrence, and Steve Clemons for their observations. I particularly liked Clemons characterization of Antoinette Pole and Laura McKenna as "clearly the Thelma & Louise of blogging research."
Thursday, September 2, 2004
Open Republican National Convention thread
For obvious reasons, I didn't see any of the Republican National Convention, and only heard random parts of Bush's speech.
With that awesome windup, feel free to comment on the convention and Bush's speech here.
Random question -- did the convention change or solidify anyone's voting preferences?
Wednesday, September 1, 2004
September's books of the month
Give the anti-globalization protestors their due. After the Battle in Seattle, most of the claims of most of the protestors were dismissed by the commetariat within the space of a single op-ed column. Five years later, they've managed to convince a fair fraction of the globe of the correctness ofd their ideas.
The result has been a raft of books devoted to debunking the myriad claims of the anti-globalization and alternative globalization crowds, some of which I've discussed here. However, September's international relations book of the month blows the other books in this category out of the water. Martin Wolf's Why Globalization Works is the best single book I've read to date that comprehensively addresses all of the claims and counter-claims with regard to economic globalization. It's the kind of book I wish I'd written. Go buy it. Now.
In light of recent events, today's general interest book is Margaret Wise Brown's Goodnight Moon. As one who's had to read a fair number of toddler books over the past years, I'll always have a soft spot for this one. Brown's The Runaway Bunny
However, opinions vary on this. So readers are invited to submit their favorite children's book for the under-five set.
The blinkered economics of the Chicago City Council
Gary Washburn and H. Gregory Meyer report in today's Chicago Tribune that City Council opposition has succeeded in thwarting Wal-Mart's plans to open up a big box store in the South side of the city (for previous posts on this topic click here, here and here):
What might those two proposed ordinances be? Glad you asked:
While even free-market enthusiasts acknowledge that the effect of minimum wage laws is not cut and dried, I'm pretty sure even Alan Kruger would say that $12.43 would be a deleterious move. A $10 minimum wage with a grandfather clause would be equally bad. As for the content provision, well, that's just moronic.
As a south sider who would like to see more jobs and more commerce created in the neighborhood, I'd like to thank Alderman Joe Moore and Alderman Edward Burke for doing such bang-up jobs at public policy. If you'd like to thank them too, feel free to shoot an e-mail to Mr. Moore or an e-mail to Mr. Burke applauding them for their bold and imaginative contributions to urban planning and economic development!!
Monday, August 30, 2004
My excellent reason for reduced blogging
Much as I would like to blog about the Republican National Convention, I'm afraid danieldrezner.com will be pretty much silent for the next week. Part of this is due to the imminent arrival of 100th annual meeting of the American Political Science Association.
The more important reason is a personal one that I vaguely alluded to last week. There's a new addition to the family:
Sunday, August 29, 2004
Open progressive conservative thread
Go read David Brooks' cover story for the New York Times Magazine on the future of both conservatism and the Republican Party (not necessarily the same thing).
Brooks opens with a point I've made in recent months:
In sketching out the future governing philosophy of Republicans, however, Brooks offers some depressing words for libertarians:
Read the rest of the piece to see the positive vision of government that Brooks offers, in the tradition of Hamilton, Lincoln, and TR. The essay probably offers the most articulate framework for understanding Bush's domestic policy agenda you'll see in the mainstream media. Then come back and post what you think.
[What do you think?--ed. I have a mixed reaction. The overarching philosophy of using government to expand individual choice is an undeniably appealing one. Policies like the earned income tax credit certainly fit into that category. However, I have caveats to Brooks' "progressive conservatism." While there's much discussion of what a conservative government can do, there's less about how it can do this. My inclination is to prefer that the government act more as paymaster than implementor, but I'm not sure Brooks would agree. The boundaries of the Brooksian state don't seem all that constrained. At the end, he argues that a good progressive conservative government could cut useless measures like corporate subsidies, farm subsidies, and needless tariffs. However, it's no coincidence that the intellectual godfather of modern-day protectionism is Alexander Hamilton. Finally, I just hate the phrase "progressive conservative." I understand what Brooks is going for, but it sounds like "pragmatic idealism" or "collective indivudualism."]