Archive for January 4th, 2014

Daily Trawl

Missed my Friday Giant due to off-line commitments, but I have read a few things I found interesting over the last couple of days, so here they are.

1. Balls still rolling.

And yet civilisation has failed to grind to a halt.

Good Morning, Denver

It is hard not to notice that two issues which have been daydreams for the left for a very long time have both suddenly gained popular traction and started moving towards resolutions. I’m not the first to draw parallels between marriage equality and cannabis prohibition. One of the things that was remarked on during the process of moving marriage equality from a fringe view to a majority one was that the great post-AIDS growth in activism aimed particularly at living out of the closet had made an enormous difference. The more important people suddenly realised they had a gay relative or friend, the more people who had for years supported the idea but been prevented from speaking out by expediency kept coming out of the woodwork and writing articles.

Something very similar has happened with the growing cracks in the international consensus on cannabis prohibition, and it can be seen easily in the coverage by the FT. After the GCDP report in 2011 in which 149 major world dignitaries outed themselves as in favour of ending cannabis prohibition, the FT published a careful and guardedly positive article pointing out the economic benefits of ending the War on Drugs. There have been several more positive blog posts and op-eds since. But in the last two days they alone have published no less than three different articles [1] on the subject. The Torygraph (oddly) have generally been supportive (they were the main vehicle for Richard Branson’s press campaign in 2011 and 2012) but since ballot legalisation in Colorado took effect several of their authors have come out openly cheerleading for the project. The Independent is not immune. Add in the Nutt-Sack affair, Sanjay Gupta’s informative mea culpa, Uruguay’s current confrontation with the INCB and all the other things that have happened and you can see why this time feels a bit different than last.

Continue reading ‘Daily Trawl’

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Today’s Fish is Eating Crow

Nice to have a new entrant for my Catch of the Day (hat tipped as always to Jonathan Bernstein) feature. In the New York Times Paul Krugman has spotted a right-wing economist (Art Laffer himself, no less) admitting in public that the austerians, hysterians and all other stripes of anti-Keynsian are quite simply wrong. Definitely worth an honourable mention, particularly given the stature of the guy who said this:

“Usually when you find the model this far off, you’ve probably got something wrong with the model, not that the world has changed,” he said. “Inflation does not appear to be monetary base driven,” he said.
        – Business Insider

Austerians take note; that is how you respond to the world proving your politics to be mathematically flawed. And to Professor Krugman, nice catch!


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Per Argument Ad Astra

Politics, history, economics and rampant speculation from a victim of the Great Recession, currently at large in the West Midlands.

"When the regulation, therefore, is in favour of the workmen, it is always just and equitable; but it is sometimes otherwise when in favour of the masters."
                -- Adam Smith

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