Showing posts with label economic crisis. Show all posts
Showing posts with label economic crisis. Show all posts

Monday, June 28, 2010

Anosognosia, Errol Morris, and a Failure of Imagination

Last week, I was reading a New York Times blog post by Errol Morris, who had made one of my favorite documentaries, The Fog of War. In a series of blog posts, Morris explored "The Anosognosic's Dilemma". In his first post, Morris defines anosognosia as "a condition in which a person who suffers from a disability seems unaware of or denies the existence of his or her disability." Morris then expands this definition to include studies that demonstrate how our own incompetence generally blinds us to that same incompetence. For instance, students who are bad at grammar often don't understand why they are getting bad grades and believe that they are really good at grammar. (I admit, certain public figures like Sarah Palin come to mind). Morris's anosognosia puts an interesting twist on the old quote attributed to Mark Twain, Artemis Ward, and a few others, "It ain't the things we don't know that gets us into trouble. It's the things we know for sure that just ain't so."

What matters most is that we think we are competent, and we fail to imagine the possibilities for our incompetence. While on a personal level, such a perspective can send me into a panic over my own potential incompetence, I was reminded of Morris's anosognosia today while I was reading another series of articles in the New York Times. One looks at the fraying social safety net in Spain. Another describes the way that civil employee allies have now turned against labor benefits. The third is Paul Krugman's editorial on the start of the third depression. One of the pair profiled in the article on Spain observed that the bankers should be paying for this bad economy, not him. The second article, profiling New Jersey, struck me with the early proposal that benefits for police officers (you know, those people who can make terrible mistakes, but upon whom we ultimately depend for loyal and uncorrupt service to the common good) be cut because they cost New Jersey too much. Then there was Krugman's ultimate point that tightening government spending will only lead to further unemployment; he doesn't mention bankers, but he does note that it is the unemployed who will suffer. I would like to add so will the underemployed as I have an overeducated, overqualified good friend working in a gift shop because she can't find a job in her field.

Why do I connect these economic crisis pieces to Morris's anosognosia? In a republic populated with Tea-partiers decrying our exploding budget and our government spending while still demanding social security checkes, I have been intrigued by our unwillingness to pay more taxes (and our unwillingness even to suggest anything reasonable sounding to do about the economy). I do not think taxes should be raised on everyone, but those of who are gainfully employed and economically stable should be willing to pay more. I think Joe Biden was right that paying taxes is a civic duty, and one we should take pride in. I have also been intrigued that, as Krugman describes, despite historical examples, our world seems hell bent on repeating past mistakes and reducing government spending when we need it most. But I have been most intrigued that our government was willing to spend money to bail out banks but not to restart say the Civilian Conservation Corps, which my grandfather, who recently past away, prized as among the best experiences of his life. I understand that we don't want to pay more money for tax bailouts, and I still want heads to roll Marie Antoinette style from the banking industry. But why on earth would we cut the benefits of police officers in order to address the economic crisis? Why on earth wouldn't we demand the creation of more jobs?

These questions then led me to wonder about the acrimony of our current political climate, and that is where I return to anosognosia? What are the alternatives we have failed to consider, either because of political divisions (an inability that I share, an inability to think outside of certain political ideologies about acceptable economic responses), or because we are no longer deep thinkers in the age of the iPhone? Where has our imagination failed us? Is our incompetence so grave that we cannot recognize the possibility that we could be grotesquely wrong? Will historians in some distant era be left to ponder what we could have done differently if only we had broadened our frame of reference? Will they diagnose us with a collective anosognosia?

Thursday, September 25, 2008

Where was the welfare plan when we needed it?



The list of things I wish my tax money did not pay for is so long, war in Iraq, Afghanistan, most of the defense department, most of the corporations that work for the defense department, etc. What I don't mind paying for, public education, road repair, social security, medicare, and welfare, are the things half the country seems to hate paying for. My question now, as President Bush himself warns of economic disaster, is do I really want my tax money paying to bail out these huge investment firms. I do not. Having read and listened to other significant economic thinkers on the subject (like the wonderful 9/19/08 program on Bill Moyers Journal), I am not certain our tax dollars can actually save the faltering financial system. Oddly, I find myself sounding like a more traditional Republican, we should allow them to go out of business because the time to use the $700 billion has passed. Where was that money when ordinary people were losing their homes? Where was corporate welfare when it could have saved ordinary people and not Wall Street? A year ago we could have saved this financial system if we also brought in tools for greatly increased regulation. But since we have a deregulated financial system, it should be allowed to fail in a deregulated fashion. More than that, I am certain that several people have done some illegal things somewhere, so CEOs and other prominent executives of these companies should be arrested, their assets liquidated, and all that money should be put toward bailing out the industry they screwed up with their idiocy and greed. But greed is human nature, which is why some people aren't libertarians - human greed cannot be trusted to moderate itself. The time to pass this sort of reformation on the finance industry also has passed, and as Ron Suskind reminds us, the warning bells were Enron if only we had had an administration who would listen. But at least their colossal screw-up allowed me to be amused by this phony spam message.


If we do bail out the financial system, as we inevitably will since both political parties are owned by Wall Street, let's hope it's with careful government oversight that builds in safeguards against corporate and government greed. This government must do more than bailout the current financial system; it must rebuild it as something other than it has been.

By the way, I bet you wish we hadn't gone into Iraq now because where are we going to get $700 billion? China. And then we are in debt to a not-very-nice rising superpower, throughout our generations forever.