Called it

 

I have a binge-watching confession to make: I'm hooked on The Crown, Netflix's portrayal of the drama of the British royal family. I'm not proud of it.

A lot of the show is pure aristocratic soap opera, which is also arguably the case of the real life counterparts. But it's not all melodrama. I was particularly hit by the portrayal of the cruelty of the Thatcher regime. And for what it's worth, X Files star Gillian Anderson does an amazing job of portraying that person...which couldn't have been easy for anyone with a living soul.

I think one reason for my reaction was living through the American version during the Reagan years, a time of extreme economic hardship for millions of Americans and most West Virginians, including myself. 

Those years were, in the words of the Gospel of Matthew, "the beginning of sorrows," of decades of bad policies, tax cuts for the wealthy, growing inequality.

And the results are in: the London School of Economics just released a report that looks at the effects of tax cuts for the wealthy over a 50 year period and covering 18 countries in the Organization for Economic Cooperation and Development. And there's no surprise here.

As Hamlet said, O my prophetic soul! Here are some nuggets from the report:

We find that major reforms reducing taxes on the rich lead to higher income inequality as measured by the top 1% share of pre-tax national income. The effect remains stable in the medium term. In contrast, such reforms do not have any significant effect on economic growth and unemployment...

Furthermore, we find no effect of tax reforms on real GDP per capita. When looking at the effect on unemployment rates, the estimates show a slightly different pattern. Here, tax cuts for the rich lead to slightly higher unemployment rates in the short term...

We find that major tax cuts for the rich push up income inequality, as measured by the top 1% share of pre-tax national income. The size of the effect is substantial: on average, each major tax cut results in a rise of 0.8 percentage points in top 1% share of pre-tax national income. The effect holds in both the short and medium term. Turning our attention to economic performance, we find no significant effects of major tax cuts for the rich. More specifically, the trajectories of real GDP per capita and the unemployment rate are unaffected by significant reductions in taxes on the rich in both the short and medium term...

...cutting taxes on the rich increases top income shares, but has little effect on economic performance.

The sad part is that I'm pretty sure the WV legislature is going to try to push for even more of this garbage in the coming session.

What could possibly go wrong?

WHERE YOUR TREASURE IS...

Caption: Cats have little need for faith. They're already there.

El Cabrero is musing on the (nonsectarian) nature of faith this week. If this is your first visit, please click on yesterday's post.

Faith is something I have trouble with, although I'm a fairly religious person by temperament. I'm kind of like a car with an old AM radio driving on a curvy mountain road. Sometimes I pick up a signal and sometimes I don't.

Faith is a pretty complicated ball of twine to unwind. Philosophers such as William James (an official Goat Rope patron saint) pointed out that faith can create facts, at least in the sense that believing something is possible can make it so. Psychologists like Erik Erikson have argued that attitudes toward faith are shaped in early infancy, when a baby does or does not learn to develop as sense of "basic trust" in the world around him or her. Faith is even a part of non theistic teachings such as Buddhism, although here it means something like trusting in those who have gone down the path before.

One of the most interesting and compelling non-sectarian treatments of faith I've come across were developed by the great theologian Paul Tillich in his little 1957 book, The Dynamics of Faith.

For Tillich, faith is a state of being "ultimately concerned." We all have relative concerns, like food, human relationships, work, etc. But the deepest concern that abides when all others have been met or foregone is the ultimate concern.

Another way of putting it might be to say that regardless of the things one professes to believe or not believe, one's real faith is the core value around which one's life is built. As Jesus is quoted as saying in Matthew and Luke, "Where your treasure is, there your heart will be also."

Faith for Tillich is the centered act of the whole person. It's not a purely intellectual thing such as subscribing to the truth of the tenets of some creed, Nicene or otherwise. Nor is just an act of will or an emotional state, although it gets confused with those quite a bit these days too. It can't be coerced by external or unconscious forces. If either of those is the case, the result is despotism or obsession/compulsion, not faith:

For faith is a matter of freedom. Freedom is nothing more than the possibility of personally centered acts.

Faith also implies risk and even doubt. It is always possible that the foundation on which one builds a life is a false one. When something of relative importance is elevated to an absolute status--such as one's own sect, race, a political creed, nation, money, or anything else--faith is idolatrous or, in Tillich's own term, demonic. By "demonic," he didn't mean little supernatural bad critters with horns but rather what happens anytime something relative is treated as an absolute.

Even the highest religious traditions and the most exalted human ideas can become demonic and idolatrous when they are regarded as absolute rather than limited and conditioned. To use an expression from the Buddhist tradition, all teachings are a finger pointed at the moon, not the moon itself.

Alas, there's an awful lot of finger worship in human history...

SPEAKING OF IDOLATRY, as Paul Krugman noted yesterday, the Reagan-as-God hypothesis is weighed in the balance and found wanting. (GR trivia question: to what book of the Bible does that allusion refer?)

IN KEEPING WITH YESTERDAY'S observation of Martin Luther King Jr. Day observations, here's his famous Riverside address. The more things change, the more they stay the same...

FOR WHOM THE BELL TOLLS. It tolls for thee and for tens of thousands of Iraqis.

WHAT MIGHT HAVE BEEN. Here's an item on what could have been done with the wealth squandered on the unnecessary war in Iraq.

TO SLEEP, PERCHANCE TO DREAM. Here's something from Science on the functions of sleep.

ZOON POLITIKON. Check out this item on animal politics. Hint: some of them may be better at it than we are.

TWO COOL WEBSITES that will show up here in the future are bookforum.com and History News Network.

GOAT ROPE ADVISORY LEVEL: ELEVATED