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Taggovernment

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Incognito warrior in iron helmet and red cloak.

What would Plato Say About Antifa? Or Darwin?

A careful reading of Plato and Arendt goes a long way toward explaining the current scene—but it is unsettling reading

In college, I hated Plato. We read his Republic, and, as a patriot and an idealistic young (small “d”) democrat, I was appalled at the hegemony of the Guardians and at Plato’s disdain for democracy. It seemed to me that his Guardians were the archetypal totalitarians, and that it was a fundamental human right — enshrined in the Constitution — to be ruled only by consent of the governed. In my dotage, I am more sympathetic to Plato — it’s remarkable how much smarter the old philosopher has gotten in the past 40 years! I am still uncomfortable with Guardians, at least of the secular sort. But I think John Adams got it right when he observed that “our Constitution…

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The economic crisis of 2020 with the red arrows indicating the economic recession in 2020.

Inflation Is the Least of Our Worries!

Yet some fear that the inflation dragon is about to roar

The Federal Reserve (the Fed) can throw the economy into a recession whenever it feels that it is in our best interests to be unemployed — typically because the Fed is convinced that an unruly inflation needs to be tamed by the discipline of unemployment. For example, in 1979, as the rate of inflation peaked above 13 percent, the Fed moved to make borrowing prohibitively expensive. When Fed Chair Paul Volcker was asked if the Fed’s policies would cause a recession, he replied, “Yes, and the sooner the better.” Interest rates reached 18 percent on home mortgages and were even higher for most other bank loans. Households and businesses cut back on their borrowing and spending and the unemployment rate…