The welfare state is dead. Long live the welfare state!
It's getting hard to keep track of which countries aren't Greece anymore.
First, Ireland wasn't Greece. Then it kind of was. Then it was Portugal's turn to not be Greece. Then it was Portugal's turn to be Greece. Next, Spain wasn't Greece. But now it might be. At the very least it's Ireland. Although Uganda looks like it's in the clear. It's not Spain, which could be Greece. That's better than Cyprus can say. They're pretty much Greece. And, of course, Greece is almost certainly Greece. That goes without saying.
But there's one country that definitely isn't Greece. That's the United States.
Let's step back. What makes a country "Greece"? It's become shorthand for wild government overspending -- especially on entitlements. Paul Ryan says we don't have long to avoid the same fate. Neither does the terrifyingly successful investor Michael Burry. They think that absent drastic reform -- read: cuts -- to the social safety net, we'll end up in penury like the Greeks.
It's a scary story. But it's just a scare story. Yes, we have a long-term healthcare spending problem. But that doesn't make us Greece. Heck, Greece isn't even Greece. At least not the "Greece" that's become such a political football. The evidence -- or lack thereof -- is in the chart below. It compares each country's average social spending since 1999, via the OECD, against its current borrowing costs. See the pattern?
There is none. Europe's biggest social spenders don't have any problems. And Europe's biggest problem countries don't spend that much on social programs. The death knell of the welfare state this is not.
Here's the dirty little secret of the euro debt crisis. There is no euro debt crisis. There is a euro crisis. The debt is a symptom of the crisis of the common currency.* Europe's bailed out countries all saw piles of capital pour in during the boom, only to pour out during the bust. They were left with inflated, uncompetitive wages -- and that's sent them into deep slumps. That's been despite lower social spending than their northern euro neighbors. Germany, Austria, Finland, Finland, the Netherlands, Belgium and -- at least for now -- France have all been able to sustain more generous safety nets thanks to the magic of competitive wages.
It's the same story for Europe's non-euro nations. Sweden, Denmark, Norway, Switzerland and the Czech Republic are all lucky enough to not be passengers on the Titantic members of the common currency. (Denmark has pegged its krone to the euro, but they still have their own central bank). Most of them spend more on social programs than the so-called PIIGS, but all of them can borrow for almost nothing. Investors are actually paying the Swiss and Danish governments for the privilege of lending to them short-term. Think about that. What's going on? Well, if things ever get rough, they can just print money or devalue their currencies. In other words, they can never run out of money.
But Greece can. Being in the euro means never being able to print your own money. And that turns each euro country into a bank. Imagine a bank run. Fear becomes self-fulfilling. Depositors try to pull their money out before everyone else because they're worried the bank will collapse -- which, of course, causes the bank's collapse. Very Oedipal -- minus the parent love. It's the same with Greece. Investors worry that Greece will run out of euros. That's a very rational fear right now. So they try to sell-off their bonds, which pushes up Greece's borrowing costs -- and makes it more likely that Greece will run out of euros. This kind of panic is why Italy -- which has a primary surplus! -- is flirting with trouble too. Only the ECB can stop this.
Notice that I didn't talk about debt at all in the previous paragraph. The PIIGS have too-high wages, too little growth, and face crippling crises of confidence. Austerity won't cure any of that. It'll make things worse. It has. It kneecaps growth. And investors are more worried about growth right now than they are deficits.
Also notice that none of this applies to the United States. We never have to worry about self-fulfilling prophesies of bankruptcy because we can never run out of dollars. As the Boomers retire, we'll spend more on entitlements. That's not the end of the world. Unless you think Sweden is the end of the world. Yes, we need to rein in healthcare inflation, and, yes, we need to raise some more revenue. The former might already be happening. The latter is a political choice. Neither makes us Greece.
So don't believe the rumors of the welfare state's death. They're greatly exaggerated.
* Caveat: Greece is sui generis. They really did just spend too much money. They're not pictured here, because their 10-year bond yield is -- wait for it -- off the chart. Fitting their 27 percent borrowing costs onto this graph makes it too hard to see anything else. But Greece's average social spending is only 21.4 percent of GDP.
The talk-radio host claims that he never took Donald Trump seriously on immigration. He neglected to tell his immigration obsessed listeners.
For almost a decade, I’ve been angrily documenting the way that many right-wing talk-radio hosts betray the rank-and-file conservatives who trust them for information. My late grandmother was one of those people. She deserved better than she got. With huge platforms and massive audiences, successful hosts ought to take more care than the average person to be truthful and avoid misinforming listeners. Yet they are egregiously careless on some days and willfully misleading on others.
And that matters, as we’ll come to see.
Rush Limbaugh is easily the most consequential of these hosts. He has an audience of millions. And over the years, parts of the conservative movement that ought to know better, like the Claremont Institute, have treated him like an honorable conservative intellectual rather than an intellectually dishonest entertainer. The full cost of doing so became evident this year, when a faction of populists shaped by years of talk radio, Fox News, and Breitbart.com picked Donald Trump to lead the Republican Party, a choice that makes a Hillary Clinton victory likely and is a catastrophe for movement conservatism regardless of who wins.
Practices meant to protect marginalized communities can also ostracize those who disagree with them.
Last week, the University of Chicago’s dean of students sent a welcome letter to freshmen decrying trigger warnings and safe spaces—ways for students to be warned about and opt out of exposure to potentially challenging material. While some supported the school’s actions, arguing that these practices threaten free speech and the purpose of higher education, the note also led to widespread outrage, and understandably so. Considered in isolation, trigger warnings may seem straightforwardly good. Basic human decency means professors like myself should be aware of students’ traumatic experiences, and give them a heads up about course content—photographs of dead bodies, extended accounts of abuse, disordered eating, self-harm—that might trigger an anxiety attack and foreclose intellectual engagement. Similarly, it may seem silly to object to the creation of safe spaces on campus, where members of marginalized groups can count on meeting supportive conversation partners who empathize with their life experiences, and where they feel free to be themselves without the threat of judgment or censure.
Education experts weigh in on the content areas children should have mastery over by the time they graduate.
This is the second installment in our series about school in a perfect world. Read the first here.
We asked prominent voices in education—from policy makers and teachers to activists and parents—to look beyond laws, politics, and funding and imagine a utopian system of learning. They went back to the drawing board—and the chalkboard—to build an educational Garden of Eden. We’re publishing their answers to one question each day this week. Responses have been lightly edited for clarity and length.
Today’s assignment: The content. What should students be expected to know by the time they leave school?
Rita Pin Ahrens,the director of education policy for the Southeast Asia Resource Action Center
Students will leave school with the ability to think critically and independently, to leverage and adapt to ever-shifting technology and modes of communication, to navigate and direct their own independent research, and to understand how to collaborate with others. There also will be a stronger focus on both career preparation and college readiness. That means integrating the soft skills that current employers find valuable, as well as technology readiness. All of this will be taught in the context of the subjects we associate with school—art, history, science, and math—but we have to think more creatively about how we present concepts, content, and opportunities to really expand students’ ways of thinking. Math doesn’t always have to be taught in a 40- to 50-minute dedicated chunk of time. It can be—if that’s appropriate for the age and learning objectives, especially for advanced math and science—but we need to reorganize and disrupt how we are currently teaching students.
Paul LePage suggested he might resign amidst an uproar that began when he blamed blacks and Hispanics for his state’s heroin epidemic and endorsed racial profiling.
For years, it seemed like no outrageous remark was too far for Paul LePage. That is, there was practically nothing he would not say; and there was no indication that his ever more erratic remarks carried a political cost. But now the Maine governor may have pushed his luck too far.
During a radio interview Tuesday morning, LePage implied that he might resign. “I’m looking at all options,” he said. “I think some things I’ve been asked to do are beyond my ability. I’m not going to say that I’m not going to finish it. I’m not saying that I am going to finish it.”
It’s a remarkable moment for the Republican, who has made his reputation by offering up outlandish and often plainly offensive comments. The story began in January, when LePage complained that “guys by the name D-Money, Smoothie, Shifty … come from Connecticut and New York. They come up here, they sell their heroin, then they go back home. Incidentally, half the time they impregnate a young, white girl before they leave.”
The 49ers quarterback’s decision to sit during the national anthem is being framed by some as an affront to the American military.
In a recent episode of Hard Knocks, an HBO series that follows one team a year through the rigors of an NFL training camp, the Los Angeles Rams head coach Jeff Fisher called a team-wide meeting that covered the protocol for the national anthem. Fisher gravely and emphatically explained the rules to the roughly 60 assembled men. Helmets belong under the left arm, he declared, and feet on the white of the sideline. “It’s a respect thing,” he said. “It’s a self-respect thing, it’s respect for your teammates, it’s respect for this game, and it’s respect for this country.” Fisher proceeded to show the group footage of a past Rams team following the procedures and, turning to face the screen himself in the silence of the room, said, “That’s how you start a game.”
Like a little white Lazarus with red eyes, the paralyzed mouse was walking again.
A few days earlier, the mouse had been sprawled on an operating table while two Chinese graduate students peered through a microscope and operated on its spine. With a tiny pair of scissors, they removed the top half of a fingernail-thin vertebra, exposing a gleaming patch of spinal-cord tissue. It looked like a Rothko, a clean ivory rectangle bisected by a red line. Cautiously—the mouse occasionally twitched—they snipped the red line (an artery) and tied it off. Then one student reached for a $1,000 scalpel with a diamond blade so thin that it was transparent. With a quick slice of the spinal cord, the mouse’s back legs were rendered forever useless.
What looks at first glance like an opening up of possibilities is actually an attack on the human imagination.
You might not like what I’m about to say about the multiverse. But don’t worry; you’ve already had your revenge. If there are an infinite number of parallel universes, there will be any number of terrible dictatorships, places where life has become very difficult for people who like to string words together. Somewhere out there, there’s a society in which every desperate little essay like this one comes with a tiny, unremarkable button: push it, and the author will be immediately electrocuted to death.
Maybe your hate is more visceral—you already know I’ll die some day, but you want to see it happen; you need to see me groveling. You can if you want. Fly upwards from the plane of our solar system, keep on going, through the endless huddles of galaxies, never forgetting your purpose, until space and time run out altogether. Eventually you’ll find yourself in another universe, on a damp patch of grass and broken concrete, unwatched by whatever local gang or galactic empire rules the city rising in foggy shapes beyond the marshes. There, you’ll see a creature strangely similar to yourself, beating me to death with whatever bits of scrap are lying around.
As pay TV slowly declines, cable news faces a demographic cliff. And nobody has further to fall than the merchant of right-wing outrage.
Updated at 12:05 p.m.
October 7, 2016, will be the 20th birthday of the Fox News Channel, and at the moment, the network is experiencing the soap-operatic highs and lows typical of any teenager on television. In many ways, the summer of 2016 may go down in Fox News history as the company’s nadir. Its founder and leader Roger Ailes has been dishonorably dispatched, the remaining executives are dealing with a flurry of sexual harassment lawsuits, and one of its most public faces, Sean Hannity, has ignominiously remodeled himself as a gutless Trump whisperer.
And yet Fox News’ fortunes are ascendant, at least in the most quantifiable sense. The network’s annual profit in 2015 soared by about 20 percent. For the first time ever, Fox News has been the most-watched cable network among both primetime and daytime viewers for several months, with a larger audience than its nominal rivals, CNN and MSNBC, combined. Led by “The O'Reilly Factor,” Fox News doesn’t just have the best-rated news show on cable television; according to The Wrap, it has the 13 best-rated news shows on cable television.
Bernie Sanders asked donors to give, and his most loyal donors dug deep each time—giving more than some could afford, or the law allowed.
Updated on August 30 at 10:28 a.m.
When Bernie Sanders asked for money to fuel his underdog presidential campaign, Geraldine Bryant didn’t even need to think about it.
“I loved Bernie, and every time he asked for money, I just gave it to him,” Bryant told me in a recent phone interview. A filmmaker in Manhattan, Bryant gave the Sanders campaign 44 separate contributions over a nine-month period between October and June, in amounts ranging from $1 to $2,000. The donations totaled $14,440—more than five times the legal limit that an individual can give to a presidential primary campaign.
Lorraine Grace, an environmentalist and educator who runs a nonprofit organization north of San Francisco, gave the Sanders campaign 17 contributions during the height of the Democratic primary between December and May, in amounts ranging from $15 to $2,000. It added up to $8,625. “I donate almost like automatic,” Grace explained. “Bernie Sanders’ campaign reaches out to me? Bingo. Donation.”
A new anatomical understanding of how movement controls the body’s stress response system
Elite tennis players have an uncanny ability to clear their heads after making errors. They constantly move on and start fresh for the next point. They can’t afford to dwell on mistakes.
Peter Strick is not a professional tennis player. He’s a distinguished professor and chair of the department of neurobiology at the University of Pittsburgh Brain Institute. He’s the sort of person to dwell on mistakes, however small.
“My kids would tell me, dad, you ought to take up pilates. Do some yoga,” he said. “But I’d say, as far as I’m concerned, there's no scientific evidence that this is going to help me.”
Still, the meticulous skeptic espoused more of a tennis approach to dealing with stressful situations: Just teach yourself to move on. Of course there is evidence that ties practicing yoga to good health, but not the sort that convinced Strick. Studies show correlations between the two, but he needed a physiological mechanism to explain the relationship. Vague conjecture that yoga “decreases stress” wasn’t sufficient. How? Simply by distracting the mind?