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Saturday, November 8, 2008

PRESIDENT-ELECT OBAMA AND THE GERMAN ECONOMY: OUR AMERICAN FUTURE?

Today's Buggy Commentary

To no one's surprise, conservative and libertarian economists have been working themselves up into a self-induced lather of fret and worry about Obama's likely economic program . . . some of which was foreshadowed during the recent presidential campaign, with, to boot, a clearer outline of certain key proposals to deal with the current economic and financial crisis set out in his speech to the country yesterday (November 7, 2008). 

An Intensely Giddy Bout of Buggy Fun by Way of Illustration

At EconLog, a libertarian site run by Arnold Kling and Bryan Caplan --- both professors at the libertarian citadel known as George Mason University --- Kling went so far as to express his fears that an Obama-presidency would be a greater "existential threat" to American freedom than Islamist terrorism.  Wow!  Needless to say, prof bug took exception in a lengthy rejoinder. 

Too lengthy as it happened.  Prof bug's long, careful dissections of Caplan's and Kling's theory-driven libertarianism --- mainly (not always) gut-level deductions drawn from unchallenged theoretical premises, and little else  --- got their backs up.  Warned, repeatedly, to shorten his wind-machine, evidence-crammed drivel, prof bug was eventually banned from the site for being disruptive . . . this, please note, even though he was always polite and stuck to hard evidence, clear logic, and translucent writing.

Oh well, can't please everybody --- Yes? No?  Click here for the fun prof bug had with prof Kling's crackling existential angst.

Back To the Bugged Out German-Socialist Future Post Found

At Carpe Diem --- a very good libertarian site, full of data-driven posts, run by Professor Mark Perry of the University of Michigan --- prof Perry posted a commentary with a chart that, taken together, said the US economic future would, in the years to come, end up less innovative and bogged down in a mountain of regulations and high taxes of the sort that characterize the advanced, highly regulated German economy.  In the end, as prof bug's lengthy comments showed, prof Perry's worries are one more conservative and libertarian entry into the Obama-as-Socialist drumbeat campaign.

No need to say more.  The long buggy analysis, with lots of data, speaks for itself.  Click here for the stuff.