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Ezra Klein, Washington Post Blogger

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(Copyright Lindsay Beyerstein)
Washington Post blogger, Bloomberg View columnist, and MSNBC contributor Ezra Klein has made a name for himself as a trenchant analyst of economic issues and domestic policy. He's kind of a big deal, and he's only 26! You can bask in his warm cewebrity glow tonight (for free!) at the NYU Skirball Center (566 LaGuardia Place), where he'll be participating in a debate called "Capitalism: Is It Moral?" Tonight Klein will be locking horns with John A. Allison, who is affiliated with the Ayn Rand Center and is the former CEO of BB&T Bank. Spoiler: this guy loooves capitalism. Anyway, Klein recently gave us nine minutes of his time last Friday before he dumped us to cover Federal Reserve chairman Ben Bernanke's first formal press conference after an interest rate decision. So that just shows you what Klein's priorities are.

I want to talk about the debate Monday night but obviously the important news today is Obama releasing his birth certificate. Are you satisfied with his statement? I think this is the dumbest day in politics that I've ever seen. There's not a close second as far as I can tell, I've been racking my brain for a close second but I've not been able to come up with one. The most sensible explanation I can come up with is that the Obama administration wants to run against Donald Trump and they're trying to strengthen his hand, but in reality I don't believe that people scheme like that in Washington very much. I think that most people are just rushing around the indecision. I think it's a really dumb day.

So you're not really a conspiracy theorist? Right. My experience in Washington has been that we always hear about these triple quadruple quintuple bankshot plays that people are trying to make. You know, Carl Rove and these political Svengalis are in reality basically just running around, they don't have good information, they're making bad decisions, they're just trying to stay one step ahead of the tide. There's too much going on and too few hours in the day and most of the things that get sold as plans when they work were ad hoc, reactive and reactive when they were actually being done.

About this debate, do you think capitalism is moral? Is capitalism moral? Of course not. Of course it isn't immoral either. Capitalism is not a person, it doesn't decide to do good things or bad things, it doesn't read Kant. think the premise of the debate is slightly flawed. Although, I'm happy to play. Capitalism is very effective, it appears to be, when properly shaped, and constrained, and regulated, the single best system we've come up with to manage most human affairs or at least affairs that involve transactions between parties. This is a category error; societies are moral, people are moral. Economic systems either work or they don't.

I guess the essence of the question is, is Capitalism destructive or positive or not positive? That's like asking me if a wrench is destructive or positive or not positive. Or a baseball bat. Capitalism can be used in one way to dump a bunch of nuclear waste in to streams or it can be used to invent nuclear energy that powers the world cleanly.

This debate feels to me like something out of the '50s a little bit. There really aren't plausible alternatives to what we call capitalism. There are simply different ways to managing capitalism. Nobody's even approaching the idea that we can have an anarchist capitalism in which three months from now, three years from now, we all just live under Google's thumb with Steve Jobs as dictator. We don't think that's capitalism, that's monopoly. And nobody's talking about moving to a communist or socialist system in which the means of production are owned and it's from to each according to his ability and to each according to his need, we are talking about different twists of the dial and how effectively or loosely capitalism should be regulated. I think that just sort of depends on which part of the economy you're talking about. People get very ideological about this question, but functionally it's really a pragmatic inquiry.

You're gonna be going up against someone who has called Atlas Shrugged "the best defense of capitalism ever written," John Allison, who presumably feels strongly that there should be, he's libertarian, so I'm assuming that he thinks there should be as little regulation as possible. I can't speak for him.

Do you know anything about him? I don't.

So you agreed to do the debate because the topic interests you even though you think it's mis-categorized? Are you looking at it like you want to go in and defend one position or another in the traditional sense of the debate? I'm looking to have an enjoyable evening talking economics which is something I tend to like to do. I like to make it up to New York when I have the opportunity, I think Demos does good work and they're allied with my old magazine, "The American Prospect", so I'm happy to help them out.

Did you like Ayn Rand in high school? No. I didn't read Ayn Rand in high school. Not that I didn't like her or did like her, I just didn't read her.

Given the fact that the two major parties seemed to be controlled by the rich, how can the rest of us try to make government serve the needs of people instead of corporations? I think that this question, to sort of deal with it correctly, would require a longer answer than we have time for here. I think there's no doubt that the political system is heavily tilted towards those with money and towards corporations, I wouldn't say it simply serves them. I think things are more complicated than that. I think partisanship is a much stronger force on the system than people realize. There's a lot of things that people attach to interests that are actually partisan incentives at work, mixed with the system's tendency towards paralysis and inertia. I'm about as big as a supporter of campaign finance reform as you'll find, and I don't dismiss the question you're asking, I'm just saying that I think that the problems, the reason people are upset and the problems we're facing are somewhat less monocausal than some people realize. I think that what is breaking the political system apart or at least what is impeding it from functioning effectively is more complicated than simply what representation wealthy interests have.

There seems to be such a disconnect between the complexity of the problems and what happens in the media, in terms of reducing things to sound bytes and even focusing on completely irrelevant things like Obama's birth certificate. This is why I write a boring policy focused blog.

Do you feel like you have somehow influenced the Washington press core to ask tougher questions? Have you seen any influence with the rise of the blogger, actually influencing mainstream reporting? I don't make any claims for my influence. I try to do the best I can with my little corner of it and that's what I can hope for.

What about blogging in general? Do you think that has had any impact? It's like anything else, it's complicated. It has good impacts and bad impacts. It's done good things... there are good blogs and there are bad blogs. There used to be a time when blogging referred to something more specific, a type of an amateur political commentary, people at home trying to get involved. That's what I was when I started out. But now blogging is such a diffuse form that it has a lot more to do with the fact that you're typing in a blogging program than it does of what you're typing. People at the Washington Post blog, people at home blog, it's sort of like writing at paper at this point. Writing on paper has a lot of impact and sometimes what's written is good and sometimes what's written is bad. I wouldn't presume to say what it's been in the aggregate.

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Comments [rss]

  • Peanut_Butter

    Oh please, more pearls of wisdom!

  • "My friends on the right don’t like to hear this, but the Constitution is not a clear document. Written 100 years ago, when America had thirteen states and very different problems, it rarely speaks directly to the questions we ask it."

    -Ezra Klein

    Yes folks, he said the constitution was written 100 years ago.... and that in the early 20th century the US apparently had only 13 states. I would not listen to his commentary regarding frosted flakes, let alone a concept such as capitalism.

  • Rule #14

  • Im quite sure he knows when the constitution was written. but feel free to use this misstatement (is it even that?) to keep from having to think about important, complex issues. Seems to work well for you people.

  • "you people"

    You have not the slightest idea of what my political opinions are. But feel free to assume away, like an ass. Putting people in small boxes keeps you from having to think about "important, complex issues."

  • I actually have a super good idea of your political opinions. That's why i used the phrase "you people".

  • Yeah I know you THINK you do, but you most certainly have no idea.

  • BottomlessChips

    Capitalism is very effective, it appears to be, when properly shaped, and constrained, and regulated, the single best system we've come up with to manage most human affairs or at least affairs that involve transactions between parties.

    Capitalism, at its core, is based on the consumer choosing to allocate his or her capital (spending). You produce a good product, you will likely sell it and make a profit.

    You cannot "manage" capitalism because when you try, you invariably take choices out of the consumers hand. Worse, you get the "managers" of capitalism to chose one producer over the other (subsidies). This is no longer capitalism as the private means of production are no longer private, and the consumer cannot act in their rational interests.

    Demonizing capitalism and accepting a perverse economic system is unacceptable for a lot of us Americans.

  • ImperialStout

    He didn't say "managing" capitalism. He said it's the best system "to manage most human affairs or at least affairs that involve transactions between parties."

    And most people (consumers) don't act in their rational interests, hense buying things produced in China or Mexico or purchased from Wal-Mart or McDonald's, which go directly against the support of their own local communities which need local workers and local owners in order to survive and reap the benefits of a capitalistic economy by keeping the money at home, not in corporate headquarters.

    Regulating businesses to, as mentioned, not dump toxic waste while producing nuclear energy, is not fighting capitalism and removing the "private" label to the company, it's regulating these assholes from not being assholes. You wanna run a business? Don't fuck things up for everyone else. That's not anti-capitalist, it's about being a moral human being.

    Perverse economic system? We're in a perverse economic system: capitalism run-amok! Have you been living underground? There's nothing wrong with capitalism if we're playing fairly, but people aren't fair and aren't moral. But why is it that capitalism is the end-all-be-all? Why can't we steal a play from the other playbooks to make capitalism a newer, better system that is more fair for all to enjoy? Times change and we need to adjust.

  • BottomlessChips

    He didn't say "managing" capitalism. He said it's the best system "to manage most human affairs or at least affairs that involve transactions between parties."

    Because government knows all?

    And most people (consumers) don't act in their rational interests, hense buying things produced in China or Mexico or purchased from Wal-Mart or McDonald's, which go directly against the support of their own local communities which need local workers and local owners in order to survive and reap the benefits of a capitalistic economy by keeping the money at home, not in corporate headquarters.

    This is the core of Randian thought. Whether it's right or wrong is up for debate, but people's reasoning is THEIR reasoning.

    I'm assuming you're liberal. How can you preach the freedom to smoke weed, abort fetuses and keep the police state to a minimum, yet you are against economic freedom? I will never understand this amongst my liberal friends.

    We should be free to make love with whomever we want, smoke what we want, and we should be able to spend our money however we want.

  • ImperialStout

    Of course their reasoning is their own reasoning. I'm saying their reasoning is flawed, but that's fine, people can do whatever they want and spend however they want. They can shop at Wal-Mart, but they will eventually see the consequences on that decision. In fact, we're seeing some of those consequences right now. But it's not all Wal-Mart's fault, they're getting what is available to them in this world of globalization. If you don't make choices that help your country/state/town, then don't get pissed when jobs disappear, homes are lost, and you can't afford to eat. And if after that they keep championing this perfect capitalism we have, then they're just fools.

    My ultra conservative father said he would pay more for clothes made in the USA if they were made available to him, but we basically just have American Apparel and boutiques, which would just allow him to be chastised as an alleged "hipster". There aren't many purchasing choices that can be made for the common good anymore. Luckily the constant rise in energy prices should correct this and make it easier and more affordable for people to make these local choices as we can't import from overseas for cheap, or even get spinach from California without paying a huge price.

    Also, I was talking about regulation mostly. I assume as a rational human being that you're against toxic waste dumping? Without regulation of some kind, nuclear plants could do that as they please if it helps their bottom line.

    And why do you have to bring in all this rubbish of a police state and abortions?

  • BottomlessChips

    Not much I disagree with you on with the first part.

    With regulation though, dumping waste affects my air/water/land so yeah sure it should be illegal. If they dump it in my backyard, I would sue and win big. If they were to dump it in public land, the town or city would sue and win big. Thus, it's not economically smart to pollute.

    But with such laws, are we really preventing anything? Or just prosecuting after the fact. The spirit of the law will never work: preventing the morally bankrupt from polluting. If there's a will, there's a way.

    My last point was, how can you believe in protecting personal liberties but be against economic freedom?

  • angry_pickle

    What the heck is this economic freedom? Freedom to sell you egg made from manure? Freedom to sell you antibotic from made from sugar? Freedom to sell your family into the sex trade? Because if I can do it (because I'm great and wonderful and intellectually superior and well-connected), I should?

    And the reason "it's not economically smart to pollute" is only because of laws passed by government. You could turn the laws around and say "you don't like pollution? go fight because might is right", ie, wage physical war. The winner of that war is obviously a great and superior individual and if Ayn Rand were still alive, the winner would have full access to her and she wouldn't even call it rape.

  • BottomlessChips

    Fear mongering.

    Companies hate recalls because a bad product that kills will put you out of business pretty fast.

    "Selling your family into the sex trade" is about the worst, non-sensical example you could pick. Nice attempt, though.

  • ImperialStout

    What economic freedom are we talking about?

  • BottomlessChips

    Example:

    Calorie count laws in NYC.

    Those signs didn't change themselves. Hiring people to change them is not cheap. Buying new hard placards is not cheap. (It costs me $150 to get a couple of posters for work stuff)

    Now the cost is minimal in the grand scheme of things, but it's still a cost.

    Government has forced that cost and it will likely be transferred via a price hike or service reduction. My freedom to engage in a transaction has been affected.

  • ImperialStout

    Well you still have the choice to make your own food instead of paying whatever couple cents may have been tacked onto the overall cost of making sure a sign tells you what goes into this food (though who is complaining about nutrition information on food packaging in grocery stores affecting your purchasing rights?).

    And this whole thing came about because people were not making wise decisions on food choices, which ultimately lead to more health issues and even more money spent through addressing that.

    What about if we educated people to make better life choices, to understand how their "economic freedom" really works and affects their daily life, to live morally, and not be ignorant, pig-headed "I do what I want" douchebags that ruin things for the rest of us? I think that would be money well spent.

  • BottomlessChips

    To me, your reply sounds like, "You don't know how to make choices for yourself. You eat things that cost you a lot of money in health care costs. You don't understand basic life choices. Thus, we need to make them for you."

    That anathema to freedom. You must let people make their own choices, right or wrong, in a free society.

    And who's to say what's a right or wrong life choice, or a better life choice than the next alternative.

    I fully don't understand extreme sports. I think it's a terrible life choice. If you don't kill yourself, you'll at least have zero cartilage by the age of 40. You know what? I love that you can make a career out of it and have a passion. Go for it.

    I think eating whatever you want and having a stubbornness about exercise is a terrible life choice. But so what. It's your life. I'm not going to look to regulate exercise and what you choose to eat.

  • ImperialStout

    Nobody is making any choices for you. All that is happening is they are giving you the information needed to make an informed decision. The government isn't stopping anyone from buying a double quarter pounder, they're just going to make you feel guilty about your poor choice.

    And spending valuable resources because someone is making poor decisions affects everyone. No matter how many Americans loooove their hyper-individualistic lifestyles, we live in a society that is, in many ways, co-dependent (and we could all benefit from that more than we are). Where does that quarter pounder come from? What are the environmental problems involved with its creation? What about the energy use in processing and shipping? The containers that it comes in? Buying that energy-intensive, wasteful non-food is causing more problems than just making the eater a fatty, which ultimately could use up medical resources when it wouldn't have been a problem if they just bought some damn vegetables and cooked at home.

  • randomtransplant

    A "market" is a place where trade is regulated.

    All trade has always had some degree of regulation. At its core, we call this simple "trust" & "consequence".

    I wish you wouldn't confuse your fantasy's for reality.

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