What a knob, thought I.
But I was sufficiently intrigued to see what else he'd written and spoken about in the past. Ten minutes searching brought me to an interview he'd given on http://www.econtalk.org/, an economics podcast with an archive of about 300 programmes going back to early 2006. Great, I thought. I'll load them up on my ipod and listen to them while commuting to work - this takes about two hours a day so 300 half hour programmes would keep me going for around four months or so. I feel it's always interesting to hear experts' views on stuff, even if you disagree with them.
So anyway, for the past couple of weeks, I've been ploughing my way through this online treasure trove of economic theory, conversation and misconception-busting. But there's just one problem - the host (and all his guests) dogmatically hold with the efficient market hypothesis, and then apply it to everything. So foreign aid is bad because it interferes with the market. All state-funded healthcare is bad because it intereferes with the market. And all public works - creating parks, laying roads, building sewers, etc - are bad because they interfere with the market.
But they often go on to talk in starkly different terms about markets. Subtly, they move from markets being instrumentally good because they are efficient in allocating resources, to markets being inherently good in and of themselves. So if roads aren't laid by private firms, it's not only efficient but it's also the way things should be. And if hospitals refuse to treat people because they can't afford the treatment, it's a good thing and it's to be celebrated as an example of the market working.
So we move from markets being good because they are efficient to markets being good irrespective of their efficiency.
It's at this point that I started to have second thoughts about this podcast. Do I really want to spend the next three months listening to this stuff on my way into work? Is there no hope that they might have some opposing views from within the economic sphere? Or possibly from different perspectives?
No, is the answer to all three.
The final straw came this morning when I was listening to a discussion about the economics of soft paternalism. "Soft paternalism" is the sort of horrid neologistic phrase we should have become used to by now - it's there in things like Nudge, all the talk in certain sorts of periodicals about behavioural economics. Persuasion by government rather than coercion, if you like.
But what do the good people at http://www.econtalk.org/ say about governments persuading people to, in the example they give, stop smoking and eat healthily? I'll quote from the interviewee on the podcast in question:
"I need not, sort of, y'know, remind people of how much, say for example, the Nazi regime was enormously fond of paternalistic policies, advocating for healthy exercise outdoors and various food related things. Hitler was a very big, erm, something of a food nut. He was a vegetarian and proselytised about its virtues.
The historical track record of paternalism [has] wandered afield into every form of human action, often with, y'know, quite disturbing results, right. I mean the sort of vilification of homosexuals leads towards, y'know, much worse actions. Erm, and likewise the, y'know, I mean, even think about, er, y'know, the, the sort of anti-semitism as starting as some form of soft paternalism, er, against Jews, and, and leading towards, y'know, leading, leading towards the, the gas chambers."
So there we have it - governments encouraging healthy exercise outdoors are analogous to the Nazi regime. "Five a day" is the sort of thing that leads inexorably to the gas chamber.
Later today, I'll be deleting econtalk from my list of subscribed podcasts and wondering why some, outwardly sane, people can get so taken in by dogma. It's very strange indeed.
