Creative Destruction Is Both

I’ve mentioned a few times that I appreciate the writing of Jim Manzi on the question of climate change. He does a good job of cutting through to the fog to find what seems to me to be the most reasonable position on AGW.

So it doesn’t surprise me that Manzi has an interesting piece in the fantastic new journal National Affairs on the tension between policies promoting growth and those promoting social cohesion. You should read it all but one of the propositions is that, while liberals assume the material wealth that they seek to distribute without an adequate regard for the way in which redistributive policies will impede its production, conservatives assume the cohesion – I would prefer the word “social capital” – that the operation of markets and individualism promoted by capitalism can tend to undercut.

The conservative ascendancy was, in large part, as result of Democratic policies that either ignored the creation of wealth or believed that it was no longer possible. If conservatives are to avoid a liberal ascendancy, we need to think about cohesion and the importance that the benefits of growth – while they need not and probably cannot – be equally distributed, ought to be widely shared.

One of the things that brings to mind – and Manzi addresses it rather indirectly – is the extent to which the dichotomy between economic and social issues is a false one. One of the persistent causes of poverty is the deterioration of social capital in poor communities. There is a reason for many of the “judgmental” moral standards that have traditionally characterized American society.

The problem, it seems to me, is that we have lost our ability to discuss these things. The overriding memes of our generation – tolerance, equality and individualism – make it almost impossible to talk about anything but materialistic and reductionist responses to social problems.

Cross posted at Shark and Shepherd.

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Happy New Year

new yearsMany thanks to last month’s featured bloggers, Professor David Papke and Stephen Boyett ’09.  The new Faculty Blogger of the Month is Judith McMullen.  The Alum Blogger is Michael Ariens ’82.  And the Student Blogger is Matthew Fernholz. 

Best wishes to all for a happy, healthy 2010!

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Recession Injuries Reach the Legal Emergency Room

emergencyroomNo one would be surprised to learn the work of the courts relates to the economy, but it’s nevertheless intriguing to see how the courts have taken up “clean-up” work related to the recent economic collapse.  According to a report in the New York Times on December 28, 2009, the courts have a huge number of new filings related to deals that went awry and also to bad debts.  In addition, there are rapidly increasing claims of domestic violence in homes affected by unemployment and lost wages.

To be specific:  For New York in 2009, contract disputes are up nine percent, and foreclosure filings seventeen percent.  Cases involving charges of assault by family members are up eighteen percent.  In Arizona, eviction cases tripled in 2009, and in Florida there were a staggering 400,000 foreclosure filings during the past year.

Jonathan Lippman, New York’s chief judge, said of the courts, “We are the emergency room for society,” and there seems some connotative truth to his metaphor.  What’s more, cases related to the recession seem likely to keep heading to the legal emergency room.  While the economy itself seems to be rebounding, economic troubles only gradually become legal cases.  Court administrators are bracing for even more filings related to business disputes, foreclosures, evictions, and family violence.

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