Skip Navigation
Megan McArdle

Megan McArdle - Megan McArdle is a senior editor for The Atlantic who writes about business and economics. She has worked at three start-ups, a consulting firm, an investment bank, a disaster recovery firm at Ground Zero, and The Economist. More

Megan was born and raised on the Upper West Side of Manhattan, and yes, she does enjoy her lattes, as well as the occasional extra-dry skim-milk cappuccino. Her checkered work history includes three start-ups, four years as a technology project manager for a boutique consulting firm, a summer as an associate at an investment bank, and a year spent as sort of an executive copy girl for one of the disaster-recovery firms at Ground Zero … all before the age of 30.

While working at Ground Zero, Megan started Live From the WTC, a blog focused on economics, business, and cooking. She may or may not have been the first major economics blogger, depending on whether we are allowed to throw outlying variables such as Brad Delong out of the set. From there it was but a few steps down the slippery slope to freelance journalism. She has worked in various capacities for The Economist, where she wrote about economics and oversaw the founding of Free Exchange, the magazine's economics blog. She has also maintained her own blog, Asymmetrical Information, which moved to The Atlantic, along with its owner, in August 2007.

Megan holds a bachelor's degree in English literature from the University of Pennsylvania and an M.B.A. from the University of Chicago. After a lifetime as a New Yorker, she now resides in northwest Washington, D.C., where she is still trying to figure out what one does with an apartment larger than 400 square feet.

Iraq benchmarks: false precision?

By Megan McArdle
Mar 10 2008, 11:29 AM ET Comment

A lot of liberal bloggers are understandably skeptical of this Michael O'Hanlon piece on establishing political benchmarks in Iraq.

The most intriguing area of late is the sphere of politics. To track progress, we have established “Brookings benchmarks” — a set of goals on the political front similar to the broader benchmarks set for Baghdad by Congress last year. Our 11 benchmarks include establishing provincial election laws, reaching an oil-revenue sharing accord, enacting pension and amnesty laws, passing annual federal budgets, hiring Sunni volunteers into the security forces, holding a fair referendum on the disputed northern oil city of Kirkuk, and purging extremists from government ministries and security forces.

At the moment, we give the Iraqis a score of 5 out of 11 (our system allows a score of 0, 0.5, or 1 for each category, and is dynamic, meaning we can subtract points for backsliding). It is far too soon to predict that Iraq is headed for stability or sectarian reconciliation. But it is also clear that those who assert that its politics are totally broken have not kept up with the news.

Spencer is probably the most pungent, Ezra's the soberest, and Matt wins the prize for best metaphor:

I think Brookings Benchmarks are kind of like Disney Dollars, i.e. funny money. We get no sense of where this five out of eleven comes from or what it's really supposed to signify. The general thrust of the exercise seems to be to cast "failure" as such an extreme scenario that it can never actually happen. O'Hanlon will always be wisely positioned between the over-optimists and the over-pessimists, always urging us to hang on for a couple more Friedman Units, and so the war will continue, forever and ever just as John McCain wants.

At least, I assume that it is a good metaphor. I have never actually been to Disneyworld, because my parents do not love me.

This is the core complaint: though the index numbers have a solid, factual ring about them, in fact they're quite subjective. I don't think that this actually stands very well as a general critique. We have a lot of these sort of indices--Freedom House's world freedom index, Transparency International's corruption indices, Heritage's index of economic freedom--and while they're obviously inherently somewhat subjective, they're an extremely useful tool for gauging relative performance. There may be some quibble about whether a country is a 2.4 or a 2.6 on the world freedom index, but there's a clear and substantial difference between a 2.4 and a 4.8.

But of course, those indexes depend a lot on the credibility of the source, and there's not question that Michael O'Hanlon is on the highly optimistic side of Iraq analysts. That's going to make it hard to get consensus acceptance of his figures, especially when he hasn't published what the benchmarks are, or what constitutes the difference between a 0, a 0.5, and a 1.

I follow the Iraq index pretty closely, and from what I can tell, things have unambiguously gotten better in Iraq; civilian fatalities at their lowest level ever, the police and army better staffed, and key economic indicators such as oil and electricity production slowly but fairly steadily heading upwards. Electricity is now meeting or exceeding pre-war production, and with the attacks on the infrastructure basically halted, what problems there are now center around updating Iraq's aged infrastructure, rather than rebuilding destroyed equipment. Likewise, oil is essentially at prewar levels, and without the attacks on the pipelines and installations, there is reason to believe that it may actually exceed prewar levels in the reasonably near future. There is little data on other infrastructure, education, or healthcare, which are critical numbers to have. But the numbers we do have are all pretty much moving in the right direction. So off the cuff, O'Hanlon's assertions don't seem totally crazy to me.

On the other hand, the real question is the future: can Iraq get a government that can keep things going in the right direction? That's what O'Hanlon's benchmark is supposed to measure, and a 5 isn't a particularly hopeful number. Worse, looking at the political benchmarks in the Iraq index does suggest that it may be a trifle overoptimistic.



Presented by

More at The Atlantic

Using the Internet as Matchmaker: The Drawbacks to Online Dating The Drawbacks to Online Dating
Red Ink and Bright Lines: Obama's Budget Placeholder How Much of Obama's Budget Will Pass?
Why Does Maine Have a Two-and-a-Half-Month Caucus? Romney Wins Maine's Two-and-a-Half-Month Caucus
A Western Diet High in Sugars and Fat Could Contribute to ADHD A Sugary, Fatty Western Diet Could Be Contributing to ADHD
The Global Dangers of Syria's Looming Civil War The Dangers of Syria's Looming Civil War

Join the Discussion

After you comment, click Post. If you’re not already logged in you will be asked to log in or register.
blog comments powered by Disqus
Special Report
The Civil War National Portrait Gallery The Civil War
A 150th-anniversary commemorative issue, with Atlantic work by Mark Twain, Harriet Beecher Stowe, Frederick Douglass, and others. Read more ›
View All Correspondents

The Biggest Story in Photos

Athens in Flames

Feb 13, 2012

Subscribe Now

SAVE 59%! 10 issues JUST $2.45 PER COPY

Facebook

Newsletters

Sign up to receive our free newsletters

(sample)

(sample)

(sample)

(sample)

Megan McArdle
from the Magazine

Why Companies Fail

GM’s stock price has sunk by a third since its IPO. Why is corporate turnaround so difficult…

The Graduates

Busted banking careers, crashed consultants, and shrunken incomes: the author attends her 10-year…

Romney’s Business

The Republican contender touts his business experience—but does it really matter?