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Notes -
Richard Hanania: Kakistocracy as a Natural Result of Populism
Hanania has written about Hating Modern Conservatism While Voting Republican, in the past, but it appears he's close to buyer's remorse (end section of this article). We've had previous discussions about how reality-based Trump's policies are, and Hanania makes a fairly good argument that - except for political loyalty - reality isn't a concern, and that this isn't just true of Trumpism, it's an inherent flaw of populism, in general:
The "Trump's tariff agenda is an attempt to create a new Bretton Woods-like system" theory works well enough for me to think it can be judged against reality (specifically, if negotiations with allies for lower rates occur and the administration lays out a financial mechanism for reconciling export-friendly exchange rates and reserve-currency status, that would be strong evidence of a coherent, reality-responsive plan), but perhaps the Trump administration will just continue to tariff manufacturing inputs while claiming to be protecting manufacturing...
The typical Gell-Mann amnesia take is that the consuming mainstream media about a topic is significantly less informing than engaging with a topic in a personal capacity. This is almost certainly true. But it can also be true that reading the New York Times buisiness section makes one more informed about the state of the national economy than not doing that.
Yes and when people say that reading the MSM makes you less informed I don't think they realise how badly informed some voters are. Obviously ok you could do better than the MSM if you started pouring time into critically reading academic, industry or legal sources, but most Americans don't even understand how marginal tax rates work. You would probably be in the top 5% (or better) of well-informed voters if you read the NYT (or indeed, so as not to appear partisan, the WSJ) and nothing else cover to cover every day.
It doesn’t make you uninformed, it does quite often make you misinformed. Yes, if you read NYT, you’ll know there’s a recession, you’ll know the unemployment rates, stock prices, and so on. But it will be misleadingly contextualized to appear that the recession is All Trump’s fault. And they’ll use their think piece section to push the idea that “is this the end of the Trump Era?”, “Will the Trump-cession cost Republicans control of Congress?” But when Biden was in charge, the NYT would cover the inflation and people not affording groceries as if it just happens like that sometimes. It’s the typical thing where they’re looking to the business cycle, Covid, the Republican Party holding up stimulus checks, bird flu, and everything else even if it’s nonsense. Conversely, economic booms are always caused by the Democrats’ economic policy — even when that democrat hasn’t been in power for years and most of the policies have been curtailed or reversed. The Trump boom, boys and girls, was really the Obama boom, at least according to the NYT.
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