I introduced this week’s Acton Commentary yesterday with some thoughts about “The Audacity of Austerity.” In today’s “‘A’ for Austerity: The New Scarlet Letter,” I take to task the attitude embodied by Paul Krugman’s vilification of proponents of austerity measures.
Most recently Krugman called such advocates “debt moralizers,” implicitly drawing the connection between austerity measures and “puritanical” virtues like thrift. In this Krugman follows in the spirit of Nathaniel Hawthorne, who indeed has much to answer for in forming the popular, and mistaken, understanding of the Puritans and joyless, dour, and rigid.
But the joke is, of course, that in denouncing the “debt moralizers” Krugman is himself “moralizing.” It just so happens that instead of moralizing against wanton debt and deficit spending, he is moralizing against commonsense “puritanical” wisdom. He is moralizing against those who dare to think that government bureaucrats and the public intelligentsia aren’t fit to rule the political economy by virtue of their “expertise.”
Krugman’s message amounts to the view that the hoi polloi don’t really know what’s best for them, and it is up to the few enlightened planners of civilization to run things properly.
If I might be allowed to make another literary comparison, in this Krugman is a bit like Shift, the Ape from The Last Battle, the concluding book of C. S. Lewis’ Chronicles of Narnia series. The book beings by describing the relationship between Shift the Ape and Puzzle the Donkey (or Ass), and although both would say they are friends, the nature of the friendship is rather suspect, for “from the way things went on you might have thought Puzzle was more like Shift’s servant than his friend.”
Indeed, it quickly becomes clear that Shift uses his superior way with words and quick wit to manipulate Puzzle into doing what he wants. All the while Shift reiterates the same message to Puzzle.
Puzzle never complained, because he knew that Shift was far cleverer than himself and he thought it was very kind of Shift to be friends with him at all. And if ever Puzzle did try to argue about anything, Shift would always say, “Now Puzzle, I understand what needs to be done better than you. You know you’re not clever, Puzzle.” And Puzzle always said, “No, Shift. It’s quite true. I’m not clever.” Then he would sigh and do whatever Shift had said.
This all too often is the message from K Street (and Wall Street) to Main Street: We understand what needs to be done better than you. On the heels of yesterday’s election, it is up to the new legislators not to simply sigh on behalf of their constituents and go along with the way things always go inside the Beltway.
As I argue in today’s commentary, contrary to Krugman, we ought to think of the ‘A’ for austerity not as a scarlet letter but rather as a red badge of political courage.