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7:00 pm EDT
Tuesday, July 1 |
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Unindicted co-counterconspirator-in-chief Donald Luskin will appear on CNBC's Kudlow & Company. Don will be talking about -- you guessed it -- politics, the economy, and the market. |
Chronicle of the Conspiracy
Join us as we discover, document, expose and challenge the bad people, the bad institutions and the bad ideas that stand in the way of wealth creation -- and show you how to fight back!
BLAMESTORMING
Hilarious, vicious and deadly-accurate deconstruction (complete with graphics) of the mainstream media hurricane blame game. Check this out on EU Rota.
Posted by Donald L. Luskin at 3:18 PM |
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WORDS TO LIVE BY
A bit of wisdom from the
2004 Economic Report of
the President (p.155):
Market Responses to Unexpected Shortages
When there are large, unexpected increases in demand or
decreases in supply for a good, a normal market response is for prices
to increase by enough to restore balance between supply and
demand. Consumers might accuse sellers of “price gouging” when
such price increases occur in response to a natural disaster or a failure
of supply infrastructure. A number of states have laws that make price
gouging illegal. Even without such laws, some businesses might
choose not to increase prices during an emergency for fear of a
consumer backlash.
If prices do not increase, however, consumers do
not receive a signal to cut their consumption and suppliers might not
have the proper incentives to increase supply adequately.
By not allowing market forces to restore the balance between
supply and demand after the shock, nonprice rationing must be implemented
instead. For example, after a pipeline break reduced the supply of gasoline into
the Phoenix, Arizona, area in August 2003, press reports indicated that some
stations ran out of gasoline, consumers waited in line for hours, and some
drivers started following gasoline tankers as they made their deliveries.
Changes in demand can induce shortages as well. For example, in the days
leading up to the arrival of Hurricane Isabel in the Mid-Atlantic states in
September 2003, press reports indicated that many retailers sold out of
flashlights and D batteries. The flashlights and batteries went to the first
people to show up at the store, rather than to those who valued them the most.
It also meant that people who were able to buy the goods might have bought more
than they would have at the higher price, leaving fewer for others. Without
price increases, there was no mechanism to allocate the available goods to their
highest valued uses. For example, if prices were higher, early customers may
have decided not to buy new batteries for their fifth flashlight and later
customers would not have been forced to sit in the dark.
While allowing prices to increase in the face of a natural disaster or a
supply disruption may seem unfair, the alternative would be to restrict the
allocation of scarce supplies and to possibly keep supplies from those who need
them most. Artificially low prices remove incentives for consumers to conserve
and for suppliers to meet unfilled demand, potentially prolonging the shortage.
Society must decide whether the perceived fairness resulting from regulations to
hold down prices is more important than allowing the market to provide
incentives for resolving the shortage as quickly as possible, while making sure
that scarce resources are available for those who value them the most.
Thanks to Bruce Bartlett for the link.
Posted by Donald L. Luskin at 2:52 PM |
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WE GET OUR KRUGMAN CORRECTION (AND MORE STILL TO COME)...
Look
what's just popped up on the New York Times website, late on a
Friday afternoon, not in the print edition, and set up
as a letter to the
editor... it's a correction of
Paul Krugman's thrice-repeated lie about the results of the Miami
Herald's recount of the 2000 Florida presidential election:
September 2, 2005
Correction: From Paul Krugman
In describing the results of the ballot study by the group led by the Miami
Herald, I relied on the Herald’s own report, which listed only three
hypothetical statewide recounts, two of which went to Al Gore. There was,
however, a fourth recount, which would have gone to George W. Bush. In this
case, the two stricter-standard recounts went to Mr. Bush.
The later study, by a group including the New York Times, used two methods to
count ballots: relying on the judgment of a majority of those examining each
ballot, or requiring unanimity. Mr. Gore “won” all six hypothetical recounts
on the majority basis. He lost one – in this case, the one using the loosest
standard – on the unanimity basis.
None of this has any bearing on my original point, which was not that the
outcome would have been different if the U.S. Supreme Court had not intervened
- the Florida Supreme Court had not, in fact, called for a full statewide
manual recount - but that the recorded vote was so close that, when you
combine that fact with the effects of vote suppression and ballot design, it
becomes reasonably clear that the voters of Florida, as well as those of the
United States as a whole, tried to choose Mr. Gore.
Thanks to public editor Barney Calame for following up on this and
making it happen. Here is
his own account of the affair,
posted a few hours ago on his web journal:
The Story of a Correction
Opinions expressed on the editorial and Op-Ed pages of The New York Times aren’t
part of the public editor’s mandate. But the facts are. And so are corrections
of any misstatements.
So when I discovered on Aug. 19 that Paul Krugman’s
Op-Ed column
that morning contained a sweeping assertion that was wrong in at least one
respect, a formal correction was my sole concern. The column, which dealt with
the controversial 2000 presidential vote count in Florida, also contained plenty
of opinions critical of the outcome — but they weren't the province of the
public editor.
The problem was this sentence: "Two different news media consortiums reviewed
Florida's ballots; both found that a full manual recount would have given the
election to Mr. [Al] Gore." It was basically a sloppy generalization about a
vote count that remains a hot-button issue for many readers. It turns out that
both of the news media consortiums did statewide manual recounts with varying
standards, and some of those scenarios made George W. Bush the winner.
For the sake of present and future readers, there seemed to be a need for a
formal correction—one that is distinct and clearly labeled. Publishing a formal
correction does more than alert readers of that day’s paper to an error. It
triggers a process that appends it to the electronic versions of the article in
NYTimes.com and in electronic databases. And as NYTimes.com expands, I think the
value to readers of having corrections appended promptly to articles becomes
quite significant.
But Mr. Krugman has been reluctant to formally correct his misstatement,
starting when I raised the issue with Gail Collins, editor of the editorial
page, on the day his column appeared. He wanted to use his
Aug. 22
column, it seemed to me, to explain the misstatement without admitting any
errors. He focused on the consortium led by The Miami Herald, and he
acknowledged that Mr. Bush had won one of three statewide manual recount
scenarios it conducted. But, absent a formal correction, the information didn’t
get appended to his flawed Aug. 19 column.
When I pressed Mr. Krugman to do a formal correction after his Aug. 22 column,
he agreed to run one at the bottom of his
Friday, Aug.
26, column. In that correction, he reiterated that two of the Miami Herald’s
three statewide recounts had shown Mr. Gore to be the winner. He also formally
corrected an erroneous 2004 Ohio voter turnout percentage that a Times reader
had brought to my attention two days earlier.
After the formal correction was published, I started checking out comments I had
picked up in discussions earlier in that week with puzzled newspaper editors who
had been involved in the two recount projects.
There were two problems with the formal correction about the recounts, I
discovered. It was wrong on the results of the Miami Herald statewide manual
recounts. And it didn’t deal with the fact that the original Aug. 19
generalization, the Aug. 22 column and the formal correction all erred in
describing the findings of the other news media consortium (in which The Times
was a participant).
The Miami Herald actually did statewide manual recounts under four different
standards for the validity of ballots. Two showed Mr. Bush the winner and two
gave the election to Mr. Gore. The other consortium had six scenarios for its
statewide manual recounts. Mr. Gore prevailed in five of those, but Mr. Bush was
the winner in one—taking another slice out of Mr. Krugman’s earlier sweeping
generalizations.
(These statewide manual recounts by the consortiums didn't get as much attention
in 2001 as those they did to show the outcome if the U.S. Supreme Court hadn't
intervened. The intervention stopped the state supreme court's plan for a manual
recount in all counties except several that would have been exempted for various
reasons. If the plan had been used, The Miami Herald consortium found that Mr.
Bush would have won under three of its standards and the fourth would have given
Mr. Gore a three-vote victory margin.)
In passing the details on the statewide manual recounts to Mr. Krugman and Ms.
Collins Monday, Aug. 29, I urged them to run a formal correction to clear up the
whole tangle. “My first reaction,” Mr. Krugman responded by e-mail, “is that
we’re really down to small points, which have no bearing on the original point
of my remark about recounts—which was, after all, that the election was so close
that even modest vote suppression was crucial.” As for Mr. Bush winning one of
the six recounts done by the other news media consortium, Mr. Krugman said in
another e-mail, “I thought that was a minor detail—frankly I can’t believe that
anyone really thinks it’s important….”
Ironically, Mr. Krugman can make—and has made—a case that he was misled by the
Miami Herald’s failure to detect and correct an omission in its April 4, 2001,
article on the recounts conducted by its consortium. That article, which
inadvertently omitted the results of one scenario that Mr. Bush won, made it
appear that two had gone to Mr. Gore had only one to his opponent. Former Miami
Herald editors who handled the article said they can’t explain the omission or
why the same writer’s shorter version disseminated by the parent company’s wire
service covered all four scenarios. The wire story appeared in The Washington
Post and other newspapers on April 4.
But if the Miami Herald had caught and corrected its omission back in 2001, Mr.
Krugman might have been spared at least some of tangle in which he finds himself
now. One would think that possibility would give him some appreciation for what
a formal correction could mean to readers of his column.
Sorry, Barney, but there's still work to be done. First, the correction is not in the print
edition (yet).
Second, under the Times' published columnist corrections policy,
corrections must be appended to a subsequent column of the erring columnist (not, as with
this one, as a letter to the editor). In his
March 28,
2004 column, former public editor Dan Okrent quoted editorial page
editor Gail Collins on the then-new policy:
Corrections, under this new rule, are to be placed at the end of a
subsequent column, [Collins said,] "to maximize the chance that they will be
seen by all their readers, everywhere," a reference to the wide syndication
many of the columnists enjoy...
Gail Collins's determination that corrections will appear on their own at
the end of a succeeding column, and not disappear into an unrelated
digression, is on its own a significant piece of progress. ...when I asked her
if there was wiggle room, she was unequivocal: "It is my obligation to make
sure no misstatements of fact on the editorial pages go uncorrected."
Third, the correction has not been appended to the three archived versions of
the columns that it corrects (that of
August 19,
August 22) and August 29 (in which the error was included in a correction to the two other columns!). So anyone
referencing those columns will the see errors there, uncorrected.
We're waiting...
Posted by Donald L. Luskin at 6:06 PM |
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A FLOOD OF HYPOCRISY
The EU Rota blog has a wonderful and damning smorgasbord of past editorial pontificating from the New York Times on the subject of flood control. It's a rich list -- read the whole thing. One gem from April, from the paper that is today excoriating President Bush for not having waved his magic wand the day he took office to cause billions to be invested in strengthening flood control in New Orleans:Anyone who cares about responsible budgeting and the health of America's rivers and wetlands should pay attention to a bill now before the Senate Committee on Environment and Public Works. The bill would shovel $17 billion at the Army Corps of Engineers for flood control and other water-related projects -- this at a time when President Bush is asking for major cuts in Medicaid and other important domestic programs. Among these projects is a $2.7 billion boondoggle on the Mississippi River that has twice flunked inspection by the National Academy of Sciences.
The Government Accountability Office and other watchdogs accuse the corps of routinely inflating the economic benefits of its projects. And environmentalists blame it for turning free-flowing rivers into lifeless canals and destroying millions of acres of wetlands -- usually in the name of flood control and navigation but mostly to satisfy Congress's appetite for pork.
This is a bad piece of legislation.
Posted by Donald L. Luskin at 7:57 AM |
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KRUGMAN'S CHOICE
It must have been hard for Paul Krugman to decide which template to use for this morning's column. Let's see... should he talk about how Hurricane Katrina will worsen the recession that he's been predicting for two and a half years? Or should he talk about how the Bush administration caused it/could have prevented it/failed to respond to it? It's the latter, with the usual grab-bag of outrageous anecdotal evidence of the horrors of government services under Bush -- this time with "facts" coming stratight from such reliable places as the editorial page of a Biloxi newspaper and Editor & Publisher, straight to the pages of the "paper of record." I guess the recession bit will have to wait for Monday.Update... a reader who is a Washington insider writes, Once again, Krugman is so blind he's mad, or so mad, he's blind.
In taking score on the blame game, he forgets that a combination of environmental liberals and budget-hawk conservatives have been waging a war against the Corps of Engineers for three decades. Two prominent figures: Jimmy Carter and Mitch Daniels.
Is the Corps of Engineers an enabler to Congressional demands to satisfy powerful interests? Yes, indeed. Are some Corps projects vital, while others are dangerous to both nature and taxpayers? Yes, again. Clearly, this is an agency which needs balance and judgment at the top.
Former Congressman Mike Parker (a friend of mine) was fired for trying to straddle the middle ground between necessary Corps projects designed to save lives and property and the constant demand for public money to fund bizarre pork-barrel projects.
Perhaps now, as acts of contrition, the Governor of Indiana, Mitch Daniels, should invite the lost people of New Orleans to his state and Jimmy Carter can build new houses for them. Hit up George Soros, David Stockman and Ted Turner for the money.
Posted by Donald L. Luskin at 7:51 AM |
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CASSANDRA?
A remarkable prescient column from July from our friend Linda Seebach, an editorial writer at the Rocky Mountain News, talking about the historical causes of the degradataion of the New Orleans wetlands (it's flood abatement, not over-development). According to Seebach, modest long-term plans were already in place to restore the wetlands -- but at a cost. But then as Seebach asks, How much will it cost? The smaller demonstration projects being done or considered now will come to about $2 billion, in a mixture of federal and state funds. By 2050, the goal is to restore about 500,000 acres.
The total cost might be $14 billion - but on the other hand, what would it cost to replace New Orleans?
Posted by Donald L. Luskin at 12:13 AM |
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LIFE IS MADE OF MOMENTS...
The
New York Times editorialized on Thursday (finding fault while
saying it wasn't the moment to find fault),
But this seems like the wrong moment to dwell on fault-finding, or even to
point out that it took what may become the worst natural disaster in American
history to pry President Bush out of his vacation. All the focus now must be
on rescuing the survivors.
Today must really be the right moment.
Today's
editorial:
While our attention must now be on the Gulf Coast's most immediate needs,
the nation will soon ask why New Orleans's levees remained so inadequate.
Publications from the local newspaper to National Geographic have fulminated
about the bad state of flood protection in this beloved city, which is below
sea level. Why were developers permitted to destroy wetlands and barrier
islands that could have held back the hurricane's surge? Why was Congress,
before it wandered off to vacation, engaged in slashing the budget for
correcting some of the gaping holes in the area's flood protection?
And, of course...
Complacency will no longer suffice, especially if experts are right in
warning that global warming may increase the intensity of future hurricanes.
But since this administration won't acknowledge that global warming exists,
the chances of leadership seem minimal.
But then there was this moment, too -- just two days ago.
From the news
pages:
Because hurricanes form over warm ocean water, it is easy to assume that
the recent rise in their number and ferocity is because of global warming.
But that is not the case, scientists say. Instead, the severity of hurricane
seasons changes with cycles of temperatures of several decades in the Atlantic
Ocean. The recent onslaught "is very much natural," said William M. Gray, a
professor of atmospheric science at Colorado State University who issues
forecasts for the hurricane season.
Thanks to reader E. M. Schulze for the links.
Posted by Donald L. Luskin at 11:32 PM |
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THE REAL FLORIDA ELECTION STORY
Following up on
all the stuff I've been writing about the 2000 Florida presidential
election, Ronald Wieck draws my attention to
a terrific post he put on
The American Thinker last October. Here's a long excerpt:
The big story, the most
sensational story never reported, was breaking in Palm Beach County, Florida.
First, some background:
Peter Kirsanow, a Bush appointment to the U.S. Commission on Civil Rights, has
been described by Rich Lowry of the National Review as “a one-man truth squad.”
In that capacity, he has spearheaded an assault on all the canards pertaining to
the Florida recount imbroglio that have been disseminated and pounded into the
national consciousness by the Left.
Start with the notorious
“felon purge list.” Kirsanow writes:
But facts are
stubborn things. Whites were actually twice as likely as blacks to be
erroneously placed on the list. In fact, an exhaustive study by the Miami Herald
concluded that ‘the biggest problem with the felon list was not that it
prevented eligible voters from casting ballots, but that it ended up allowing
ineligible voters to cast a ballot.’ According to the Palm Beach Post, more than
6500 ineligible felons voted.
Those police checkpoints
that intimidated black voters? The basis for this legend was a single
checkpoint, the subject of a well-publicized complaint filed with the NAACP,
located two miles from the nearest polling place. It operated for ninety
minutes, and issued 16 citations for faulty equipment, 12 of them to whites. "The
incontrovertible evidence shows that no one was delayed or prohibited from
voting due to the lone checkpoint."
What about the sinister
plot by Governor Jeb Bush, or Secretary of State Katherine Harris, or Doctor
Doom, to disenfranchise black voters? Blacks, who constitute 11% of Florida’s
population, cast 14% of the state’s votes in 2000, and their turnout was up
300,000 over 1996--data highly inconvenient to the mythmakers. Peter the Great
will drive the final nail into the coffin of this pernicious untruth:
Again, reality
intrudes…the responsibility for the conduct of elections is in the hands of
county supervisors, not the governor or secretary of state. County supervisors
are independent officers answerable to county commissioners, not the governor or
secretary of state. And in 24 of the 25 counties that had the highest
ballot-spoilage rates, the county supervisor was a Democrat. (In the remaining
county the supervisor was not a Republican, but an independent.)
It appears as though the
Stolen Election is set to join the alligators in the sewers, which, come to
think of it, is precisely where it belongs. Factor in the networks’ election
night knavery of announcing repeatedly that the polls in Florida had closed,
when, in reality, Panhandle voters had an hour left--this stunt cost Bush a net
of between 8,000 (Democrat strategist Bob Beckel’s estimate) and 15,000
(Republican estimates) votes--and all of those drooling Moore-ons stumbling out
of Fahrenheit 9/11 to parrot their obese guru’s ravings will need to find a new
script. But something is missing from this account.
John Fund, the author of
Stealing Elections: How Voter Fraud Threatens Our Democracy, knows what
it is. He tells us in his indispensable book:
In the confusion and
chaos after the 2000 election, an anomaly occurred that many people believe
ended up costing George W. Bush thousands of votes in Palm Beach. Bear with me
while I go through some numbers; they are important because they suggest fraud.
One former Democratic Congressman I spoke with said that ‘no other conclusion
explains the bizarre numbers’; and two law-enforcement officers said they
received credible reports on election night of tampering with punch-card ballots
in Palm Beach, but in the chaos of the post-election period they were told not
to follow up.
Space does not permit a
full exposition of Fund’s brilliant investigative and deductive work. The main
points are as follows: 1) “Palm Beach produced 19,120 overvotes that night,
a 4.4 percent error rate--ten times the error rate of 0.4 percent in the rest of
Florida, or of any large jurisdiction in the rest of the country that used
punch-card ballots other than Chicago.”
2) “Only in Palm
Beach County did Gore gain 750 votes in the initial post-election recount and
Bush almost nothing. In 50 out of 67 counties, the total change was less than
seven votes, and in 63 out of 67 counties the total change was less than thirty
votes either way.”
3) "In every
precinct in Palm Beach where Gore got more votes than there are registered
Democrats, Bush received less than 60 percent of the registered Republican
votes.”
4) Bush, a popular
candidate within his own party, received fewer votes in Palm Beach than Bill
McCollum, the Republican senatorial candidate who lost the state by nearly
300,000 votes.
5) More implausibly, Bush
got fewer votes than the combined total of the four Republicans running for
Congress in Palm Beach, 152,969 to 158,211. Gore, by contrast, received 269,732
to the four Democrats’ 214,307. Study those numbers and see if the problem
doesn’t reveal itself.
6) In Palm Beach County
“…the ballots aren’t counted at the precinct but instead must be transported
by car to a central counting station.”
7) The punch line:
“I was told by two
former law-enforcement officers and a poll watcher that they believe ballot
tampering affected some Bush ballots on election night. This fraud took place
after the polls had closed and the poll watchers had gone home. Precinct
officials improperly reopened the ballot transfer cases, in at least one
instance while taking the ‘scenic’ route to the election center where the punch
cards would be tabulated. Using a nail, pencil or other sharp device, they would
take a ballot and punch out Al Gore’s name for president. If the person had
voted for Gore, the nail would go through air. But if the person had voted for
George Bush or anyone else, the ballot would be invalidated, thereby reducing
the vote count for that candidate. I was told by one former law-enforcement
officer that this was done in at least two heavily Democratic precincts that
registered an unusually low number of Bush votes.”
There is more: buy the
book.
He's right. Just
click here.
Posted by Donald L. Luskin at 9:09 PM |
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QUAGMIRE
From The Dinocrat:Here’s how MSM coverage might sound if they extrapolated New Orleans to the USA the way they do Baghdad to Iraq: The United States remained in chaos yesterday in the aftermath of its worst catastrophe since 9-11. Baghdad on the Bayou was said to be out of control as looters and insurgents marauded unchecked by US military or local police. The Brahmin north of America and the Hispanic regions in the west were said to have less violence, but these reports were unconfirmed. Meanwhile the Redneck Triangle of Louisiana, Mississippi and Alabama were under ineffective martial law. Critics said that the Bush administration’s arrogant inaction on global warming and total lack of post-storm planning had come together to produce unprecedented devastation, etc. Thanks to reader David Duval for the link.
Posted by Donald L. Luskin at 12:36 PM |
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AMONG HIS MANY CONTRIBUTIONS...
...reader Rick Gaber reminds us that the late Jude Wanniski was one of the very first Krugman Truth Squad members, before there even was a Krugman Truth Squad.
Posted by Donald L. Luskin at 11:27 PM |
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A TRIPLE KRUGMAN CORRECTION COMING
There's another
"humiliating"
correction in store for Paul Krugman. We've got the smoking gun -- proof
positive, including testimony of witnesses, that Krugman was wrong when he said
-- twice -- that the full statewide recounts of the Florida 2000
presidential election by a media consortium led by the Miami Herald
showed Al Gore the winner under three out of four counting standards.
This means that Krugman will have three corrections to make.
- First, he'll have to correct the statement in
his August 22 New
York Times column that "Two out of three hypothetical statewide
counts would have given the election to Mr. Gore."
- Second, he'll have to correct the correction that was appended to his
column last Friday in
which he said that "a media consortium led by The Miami Herald...showed him
winning two out of three."
- Third, he'll have to correct the statement in his
August 19 column that "Two different news media consortiums reviewed
Florida's ballots; both found that a full manual recount would have given the
election to Mr. Gore."
Krugman's lies about the 2000 election are many and various (see
here
and here). But the source of Krugman's "two out of three" claim has been a bit of a mystery
over the last week among Krugman's critics in the blogosphere (an account of it
appears
on
the Just One Minute blog). But now the mystery is solved.
Directly or
indirectly, it must surely come from an April 4, 2001 Miami Herald story by Martin Merzer,
headlined "Review Shows Ballots Say Bush" (I can't provide a free link for the
story, but those interested can obtain it for a small fee from
the Herald's online
archives). Merzer's story, as it appeared originally in the print edition,
and now in the Herald's online archives,
presented the Herald consortium's "statewide manual recounts" calculated
against three different standards:
- "a loose standard where every dimple, hanging chad and pinprick was a
vote" -- by this standard, Gore would win by 393 votes
- "a tougher standard where a dimple counted only if the ballot had other
dimples on it" -- by this standard, Gore would win by 299 votes
- "a still tougher standard where a ballot had to have chads detached by at
least two corners to count as a vote" -- by this standard, Bush would win by
352 votes
At first blush it would seem from this that Krugman is correct about Gore "winning two out of
three." But wait. The Herald is a Knight Ridder paper, and a
Knight Ridder Wire Service story written by
the same Martin Merzer on the very same day precisely repeated the results of the first three
standards as given in the Herald version, but included a fourth as
well. The Washington Post ran the wire story under that
headline "In Ballot Audit, Bush Prevails" (again, no free link, but available for
a small fee from
the Post's
online archives), and the fourth standard was described as follows:
- "A vote was counted only when a hole was cleanly punched, the most
restrictive standard" -- by this standard, Bush would win by 416 votes
Mark Seibel, the former managing editor who ran the ballot review process
for the Miami Herald, now international managing editor for
Knight Ridder's Washington bureau, reviewed his original source material
and personally confirmed to me that the fourth
"clean punch" standard
under which Bush wins Florida by 416 votes was indeed part of the
Herald
consortium's findings.
Neither Seibel nor Merzer have any idea why the fourth standard was omitted
from the Herald's story -- both in its original print rendition, and in
the online archives. I've discovered that a 2001 book edited by Merzer called
The Miami Herald Report: Democracy Held Hostage also omitted the
fourth standard. Seibel told me he and Merzer had been unaware of it all these
years, and speculated that it might have been a production error. But Seibel
told me, "I'm absolutely positive that the fourth clean-punch standard described
in our wire story is correct."
Where it was and wasn't published is immaterial. And it doesn't matter that
Krugman's reliance on the Herald version rather than the Knight Ridder
wire version was very possibly an honest
mistake. Nothing matters except that what Krugman said in America's "newspaper
of record" was wrong.
Krugman's
twice-repeated statement about Gore "winning two out of three" is
an
error that must now be corrected. Further, Krugman's initial statement that
"both" consortiums "found" Gore to be the winner in a full
recount must now be corrected. The truth is that
only one did. For the other, it was a split decision.
Here's my suggested text for a new correction:
Corrections:
In my column
of August 22, and again in a correction appended to
my column
last Friday, I misstated the results of the 2000 Florida election
study by a media consortium led by The Miami Herald, saying it showed Al Gore
winning two out of three statewide manual recounts. In fact it showed him
winning only two out of four. In light of this, the public editor says, rightly, that
I must correct the statement
in my column
of August 19 that both of two media consortiums' studies found Gore to be
the winner of a full recount. In fact only the consortium that included The New
York Times did so. I regret that I let my Angry Left agenda get in the way of
the truth.
Okay, that last sentence isn't gonna happen. As to the rest of it,
"public editor" Byron Calame hasn't responded to my request for comment. But
I've made him aware of all the facts, and I know that he has communicated
directly with Knight Ridder's Seibel. Now it's simply a matter of setting the record straight, and if the New York
Times has the slightest shred of integrity, such a correction will be run.
Think of it as a full recount. Isn't that what Krugman says he wants?
Posted by Donald L. Luskin at 9:35 PM |
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I DON'T MEAN TO BE CRUEL...
...but is this a candidate for a Darwin Award? ABC News reports:A woman interviewed by WBRZ said her son, a deputy at the [New Orleans] prison whose family is among the hostages, told her that many of the prisoners have fashioned homemade weapons. Her son had brought his family there hoping they would be safe during the storm.
Posted by Donald L. Luskin at 7:06 PM |
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AT LEAST HE WAS STEERING THE CONVERSATION, NOT THE CAR
From the New York Post:August 30, 2005 -- The Rev. Al Sharpton was in such a hurry to get out of President Bush's neighborhood that his driver blew past a deputy sheriff at 110 mph and then led troopers on a nine-mile Texas chase before pulling over, authorities said... Maupin [Sharpton's driver] was clocked at 110 mph in a 65-mph zone on Interstate 35 about 40 miles south of Dallas after leaving activist Cindy Sheehan's peace rally near Bush's Crawford ranch. Maupin then evaded the deputy sheriffs' efforts to get him to pull over...Sharpton told The Post yesterday there was no chase and steered the conversation away from Maupin's arrest and toward the deputies' handling of the situation. Thanks to Perry Eidelbus for the link.
Posted by Donald L. Luskin at 2:54 PM |
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WOW -- THERE ARE A LOT OF RELIGIOUS PEOPLE OUT THERE
This just showed up in my email box, from the Pew Research Center, about
their new
study on religion, politics and policy.
Both major political parties have a problem with their approach toward
religion, in the eyes of many Americans. More than four-in-ten say that
liberals who are not religious have too much control over the Democratic
Party, while an almost identical percentage says that religious conservatives
have too much influence over the Republican Party.
The public also has distinctly different perceptions of both parties when it
comes to dealing with religion and personal freedoms. By a wide margin – 51%
to 28% – the GOP is seen as the party most concerned with protecting religious
values. By a nearly identical margin (52%-30%), the Democratic Party is
perceived as most concerned with protecting the freedom of citizens to make
personal choices.
Yet the Democrats’ strength in this area is overshadowed by a sharp erosion in
the number of Americans who believe the party is friendly toward religion.
Only about three-in-ten (29%) see the Democrats as friendly toward religion,
down from 40% last August. Meanwhile, a solid majority (55%) continues to view
the Republicans as friendly toward religion.
However, independents are more critical of the influence of religious
conservatives on the Republican Party than they are of the influence of
secular liberals on the Democratic Party. Most independents (54%) think
religious conservatives have too much influence over the Republican Party,
while fewer, 43%, think secular liberals have too much sway on the Democratic
Party.
The latest national survey by the Pew Research Center for the People & the
Press and Pew Forum on Religion & Public Life, conducted July 7-17 among 2,000
adults, finds deep religious and political differences over questions relating
to evolution and the origins of life. Overall, about half the public (48%)
says that humans and other living things have evolved over time, while 42% say
that living things have existed in their present form since the beginning of
time. Fully 70% of white evangelical Protestants say that life has existed in
its present form since the beginning of time; fewer than half as many white
mainline Protestants (32%) and white Catholics (31%) agree.
Despite these fundamental differences, most Americans (64%) say they are open
to the idea of teaching creationism along with evolution in the public
schools, and a substantial minority (38%) favors replacing evolution with
creationism in public school curricula. While much of this support comes from
religious conservatives, these ideas – particularly the idea of teaching both
perspectives – have a broader appeal. Even many who are politically liberal
and who believe in evolution favor expanding the scope of public school
education to include teaching creationism.
The survey also finds that while large majorities of Americans say that
parents, scientists and school boards all should have a say in how evolution
is taught in schools, a plurality (41%) believes that parents – rather than
scientists (28%) or school boards (21%) – should have the primary
responsibility in this area. Update... Reader Thomas Kearney speaks for me on this one:I don't find it particularly encouraging that 64% of the survey respondents favor teaching creationism alongside evolution in public schools, and that 38% favor replacing evolution with creationism. The Creation account in the book of Genesis so obviously did not happen that it is absurd to think that it is something that should be taught in science classes. There are some people who think that extraterrestrial beings built the Egyptian pyramids, but that does not mean that such an explanation should be taught in social studies classes in order to provide students with an alternative point of view about the pyramids.
As an atheist, I know that there is a knee-jerk tendency to view Bible believing Christians as ignorant and dumb, but I know that is not necessarily the case. People can be intelligent and brilliant about many things, and yet be found wanting in certain subjects or areas. A look at any of my report cards from junior high and high school would show very high marks in social studies and barely passing grades in math and science.
But with the United States facing growing challenges from India, China and elsewhere, we cannot afford the luxury of dumbing down our science curriculums by including things in them that have no scientific basis in fact. If someone wants to believe that the Earth is only 6,000 years old, while regrettable, is his or her right, but to expect that school curriculums should teach the Creation account in Genesis as a viable explanation is clearly wrong. Update 2... reader Chris
Masse chimes in: "I want to sign this too."
Update 3... reader Rich Sinda says,
We could decide to remove creationism from schools and lack a fundamental
philosophical study in our schools and miss a chance to teach students to
apply philosophy beyond the classroom. We could decide the opposite and
possibly retard the learning process for children about to enter a free market
where they will suffer for their lack of scientific knowledge. The final
lesson to the children will be final and succinct no matter which way we
choose. Big ideas, hard problems, and philosophical enigma's solutions are
found in only one place -- the government. We will teach them that the only
solution is a big one that must necessarily effect every child. We can at the
same time teach them that federalism is an anachronism and that power is
better used by the federal government rather than the states or the people.
This isn't a question about religion, but a question freedom.
Update 4... reader Gerald P. Hanner says,
You could make the claim that Genesis is a description of the evolution of
the solar system -- or the universe, for that matter -- if you don't take it
literally. Genesis says that God brought light into being (and you could see
for a frigg'n mile, as we used to irreverently say as teenagers), it doesn't
say a word about the details of such an event. Likewise, all of the other acts
of creation, which, in broad strokes, generally follow what the geological and
paleontological records show to be course of development life has taken.
Again, Genesis simply says it happened; there is not a word as to how it
happened. Neither, unless you're taking it literally, does Genesis say much
about how long that process took.
My observation is that most of the supporters of creationism tend to view God
as a Las Vegas magic act: poof and something appears from out of nowhere. That
view should not be taught as an alternative to the theory of Evolution. You
know as well as I do that a theory, scientific or otherwise, is simply an
explanation of how something works based on incomplete evidence. An accepted
scientific theory is one that works well enough that accurate predictions can
be made from its basis. Like economics, evolution is not one of those things
where you can run controlled experiments and replicate them; and given the
seemingly random nature of evolution, I doubt that any responsible scientist
is willing to make a prediction as to what follows next in the evolutionary
chain of events. On the other hand, pointing to the evolution of any species,
for example, honeycreepers in Hawaii, or the pollinator of the Christmas Star
Orchid of Madagascar, adaptations can be deduced. In the case of the Christmas
Star Orchid, Darwin himself predicted its pollinator (it turned out to be a
Hawk Moth species) although he never actually saw one or knew with certainty
of its existence.
The whole argument over the existence of God is a philosophical one at best.
You can look at the evidence and take your pick from competing theories.
Anyone who makes a categorical declaration based on incomplete evidence has
departed science for the metaphysical realm. I recall reading recently that
some elderly economist (if I recall correctly) had arrived at the conclusion
that there really is a God -- but God is not the interventionist one that most
religions depict. Is he correct? None of us knows. After death more might be
revealed -- or maybe not. In any event, who among the living would know, and
what difference does it make?
Update 5... reader Don Noone adds,
“By a nearly identical margin (52%-30%), the Democratic Party is perceived
as most concerned with protecting the freedom of citizens to make personal
choices.”
Choices such as buying an SUV that gets 14 mpg if I want, or not relinquishing
my home to a private developer at the, um, request of municipal politicians,
or yanking my kid from a failing public school or buying just the kind of
firearm that I want, or erecting a 25 foot tall Santa Claus on my lawn, or
having a delicious meal of spotted owl, not being able to buy catastrophic
health coverage similar to term life, or or or…
Update 6... [8/31/2005] Reader Judith Willms adds:
I'm a Christian (Lutheran) who believes creationism is hogwash. Indeed, there are many stories in the Bible that are probably untrue, and when it comes to predictions, the Bible is full of nonsense [see Revelations].
There is a difference, however, between being a Bible-worshiper and a true Christian. Christianity teaches a system of ethics and values that has proven, over many generations, to be both healthy and generous to its adherents. It is not a perfect religion and Christians are no more perfect than any other people, but we do try to live up to admirable ideals and we have been reasonably successful in that effort.
Another of the great religions of the world is currently undergoing a frightening unheaval that threatens much of the world. As any honest Christian historian could tell you, we've been there, done that.
Finally, I would urge you not to put all of your faith in science. As you really ought to know, science gets it wrong at about the same rate religions do, and often with similarly disastrous results. Think about it.
Posted by Donald L. Luskin at 2:40 PM |
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I CAN GET BEHIND THAT
Says Bob Metcalfe, the brilliant inventor of Ethernet and the father of Metcalfe's Law:I really want Arthur Sulzberger Jr.'s newspaper—which he's corrupting and perverting—to go directly out of business. Thanks to reader Chris Selland for the link.
Posted by Donald L. Luskin at 12:14 PM |
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DEAR EDITOR...
One thing for sure about conservatives, they are a lot less subject to
groupthink than liberals. They occasionally find the moral courage to publicly
criticize their own, and to come to the defense of the liberal opposition from
time to time. I know because I was a victim of it last week. An editorial in the
ultraconservative Washington Times came to Paul Krugman's
defense, and found fault with some of my criticisms of him. Here is my reply,
from today's Washington Times (I've added links where appropriate).
Wage trends
Who would have thought that your conservative Editorial Page would come to
the defense of economist and liberal Paul Krugman? That's just what happened
in an
Aug. 25 editorial, "The fact on wage trends." The editorial accuses me of
"stridency" and of making errors in the use of economic statistics in
one
of my series of critiques of Mr. Krugman published on National Review
Online.
The Washington Times is being very generous to Mr. Krugman, considering he
once called the newspaper "the administration's de facto house organ" in
a column titled "Feel
the Hate."
The thrust of your editorial was that Mr. Krugman raised a valid and
alarming issue when he pointed out in
a recent New York Times
op-ed that "adjusted for inflation, average weekly earnings [through June]
have been flat for the past five years." According to the editorial, it was
"strident" of me to ask the New York Times to publish a correction of Mr.
Krugman's statement, though the editorial admits that earnings have grown 0.5
percent — they have not, in fact, been "flat."
Is 0.5 percent close enough to "flat" so that the matter is too trivial for
America's "newspaper of record" to correct? The Washington Times editorial
thinks so, and ordinarily that might be right. But not when it comes to Paul
Krugman. A former Enron adviser, Mr. Krugman's columns in the New York Times
are littered with lies, errors, distortions and misquotations, many designed
to suggest that the economy is in crisis, and thereby to discredit the Bush
administration's policies. I've deeply documented this in two-and-a-half years
of
columns at National Review Online and on
my blog.
Even the New York Times' own ombudsman
declared that Mr. Krugman has a "disturbing habit of shaping, slicing and
selectively citing numbers." So I don't feel I'm being strident when I ask
that he be required to say "almost flat" instead of "flat" — because that's
the truth.
Is it too strident to point out that The Washington Times itself has erred?
Three times the editorial wrongly claims (and again on Sunday) that the
production or nonsupervisory workers to whom Mr. Krugman's "flat" earnings
statistics apply "comprise about 80 percent of the employed labor force." This
is simply not true.
According to the Bureau of Labor Statistics, the agency that produces the
weekly earnings statistics, they apply to private sector workers only. They
comprise 63 percent of the employed labor force, not "about 80."
The editorial also erred when it faulted me for citing the five-year 9.6
percent growth in real disposable income, claiming that it is in fact 8.5
percent through the first quarter of 2005. The Bureau of Economic Analysis,
the agency which publishes these statistics, is constantly backward-revising
them. In fact,
8.5
percent is the correct number today — and
9.6
percent was the correct number when I cited it in June.
The editorial takes me to task for claiming that real disposable income is
"comparable" to the average weekly earnings cited by Mr. Krugman, as though I
were glossing over the methodological differences between the two series. They
are indeed different in various ways, but I stand by my view that they are
comparable — both statistics are ways of looking at how much money working
Americans earn. There are others I could cite too, each different but all
comparable — and all showing better earnings growth than the one cited by Mr.
Krugman.
Mr. Krugman deliberately cited the statistics showing slower growth,
because those help him discredit the administration's economic policies. And
he made the statistics seem even worse by failing to put "flat" five-year
growth into historical context. Real average weekly earnings have fallen
considerably since their peak in the mid 1970s. The average five-year period
since June 1975 has seen a decline of 2.1 percent. Even literally flat growth
is better than that. But that good news is not mentioned or analyzed — not by
Mr. Krugman, and not by The Washington Times.
I applaud the Editorial Page for wanting to take an unflinching look at
seemingly negative economic statistics and for encouraging a conversation
about how to improve economic performance. The editorial is right about one
thing: "Expressing concern does not make one a liberal class warrior." But I
never said it did. And no good cause is served by looking only at the most
pessimistic statistics, papering over the deceptions of America's most
dangerous liberal pundit and unfairly nit-picking an earnest conservative
critic.
DONALD L. LUSKIN
Chief Investment Officer
Trend Macrolytics
Menlo Park, Calif.
By the way, about that error in which the Washington Times claims that
production workers make up 80% of the employed work force -- they made it again
in
another editorial on Sunday. That makes four.
Posted by Donald L. Luskin at 8:49 AM |
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R.I.P.
Jude Wanniski is dead at 67. A great contrarian thinker, impossible to categorize or predict in politics or economics. His book The Way the World Works was a tremendous influence on me when I was starting in the investment world in the late 1970s, and I'll be forever grateful.
Posted by Donald L. Luskin at 8:41 AM |
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HE'S NOT VERY TALL, EITHER
What do economics professors think about
Paul Krugman's new college textbook and its supposedly
ground-breaking online version, Aplia?
From Inside
Higher Ed:
“With Aplia, students can use the digital book and professors can give
homework online,” said Craig Bleyer, publisher for economics at Worth
Publishers.
Some professors don’t think the digital options really break new ground. “I’m on
the bloody Internet, on your screen answering questions,” Gottheil said of an
option to which book owners can log in for help via video. “What’s Krugman going
to do new, tell jokes? Unless he comes on 3-D. Then, OK, he beat me.”
In fact, Krugman did show up in person to the University of Pittsburgh last
year, where Shirley Cassing, an economics professor, was promised a visit if she
tried using his book during testing last year. “It was so cool. He’s not very
dynamic or flamboyant in person,” she said...
Via
Marginal Revolution. Thanks to
Chris Masse for the link.
Posted by Donald L. Luskin at 10:05 PM |
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