Why politics isn\’t the way to run anything

This will likely be successful politically — blaming the speculators will likely ring true for many — but I don\’t think the underlying economics supports the claim that speculation is the primary cause of high energy prices.

Do note that this is from a generally lefty (by US standards certainly) economist. It just ain\’t speculators in futures that drive up the price of oil. But it will probably be politically successful to tell everyone this economic lie.

Please note that he\’s not approving of this economic lie, just pointing out that it is one and that it will likely be politically successful.

And that\’s the problem with politics isn\’t it, as a method of actually running anything. Lies, untruths, win in that game. vAnd running things on hte basis of lies and untruths just isn\’t going to be optimal for anyone other than those who get to sit on the thrones.

12 thoughts on “Why politics isn\’t the way to run anything”

  1. No word of a lie, I had a discussion with a lefty friend of mine just before the budget where he said, in the same breath, that evil speculators were at the root of everything bad and that he was booking his skiing holiday early this year (for next Feb) as they have some great early bird offers and it will be more expensive if he waits.

  2. Fair enough, but lies need willing carriers and willing believers. The issue isn’t that politicians tell lies; it is that the media broadcast them uncritically and that people are happy to believe them.

    For example, if politicians lied that black people were responsible, or that God was responsible, then they would be ridiculed and not believed. Yet in many times and places such lies would be perfectly plausible to many.

  3. And that Tim is the nub of the issue. Politicians are happy to lie, the media give them a smooth ride in exchange for “access” (and the BBC being the state broadcaster is particularly bad) and the people, frequently, are mug enough to believe these lies.

    I think also the amount of lying has increased, in the past some embellishment was permitted and also some omitio vero, but nothing on the scale we see nowadays, also because the size of government has increased and the scope of their meddling, the number of layers, the influence of the tranzies which are also congenital liars (being run by politicians who don’t even have the inconvenience of having to stand for election)

  4. I often deal with the cigar chomping rentiers that dominate oil trading. They are obsessive about gathering intelligence. Why? Because they can lose their shirts if they make a big mistake.

    The bravest souls in all trading are the shorts. In equities they are regarded as evil, and always mentioned, but somehow they never get discussed when commodities are the subject or it would destroy the whole speculators are bad theory.

  5. So Much For Subtlety

    H – “Didn’t Churchill say something about it being a bad system except in comparison with the alternatives?”

    Which is why I am campaigning to be made the Lord High Protector of these United Kingdoms under the slogan “Tired of the Lesser of Two Evils?”

    If appointed (because elections are clearly wrong and they need to stop now), I will start by shooting all the Greens. Plus people who use leaf blowers on a Sunday morning. Oh, and anyone with jeans that sag too low. Actually no, maybe I will start by exiling Katie Price.

    Tim adds: Erm, no. Force KP to wear those low jeans. There are things to be appalled by in the woman but the possession of a nice…..erm, don’t blog after beer right?

  6. There are far nicer derrieres that aren’t in such close proximity to a toxic waste dump. I support exiling, preferably to Jordan.

  7. So Much For Subtlety

    “Tim adds: Erm, no. Force KP to wear those low jeans. There are things to be appalled by in the woman but the possession of a nice…..erm, don’t blog after beer right?”

    I don’t think Ms Price has a nice arse and I would not exile her for that reason. Being an inexplicably popular slapper with all the human warmth of an industrial robot is sufficient reason for me.

  8. Pingback: Politics is no way to run an economy | motorcitytimes.com

  9. How many beers does it take to find joy in the sight of Katie Price’s backside, and have you recovered from the hangover yet?

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