June 09, 2003
The Consequences of Britain's Saying "No" to the Euro

David Begg, Olivier Blanchard, Diane Coyle, Barry Eichengreen, Jeffrey Frankel, Francesco Giavazzi, Richard Portes, Paul Seabright, Alan Winters, Anthony Venables, and Charles Wyplosz say that The Consequences of Saying No--or, rather, not yet--to the euro are much bigger than the British Treasury thinks. A Britain that is not in the euro has no influence on how the euro zone develops. And they believe that over time--a couple of decades?--British trade will reorient itself toward Europe. Thus the choice is between joining the euro now (and helping the euro zone evolve in a direction that is good for Britain) and joining the euro later (and in the meantime having no influence into how the euro zone evolves)....

Posted by DeLong at 07:33 AM

May 12, 2003
Notes: The Character of the Absolutist State in Western Europe

Perhaps the most interesting argument about why the demographic crisis produced by the Black Death did not lead to the reemergence of serfdom in Western Europe (as lords discovered that, with population down by 1/3, they would rather be labor lords than landlords) is that made by Perry Anderson in his book Lineages of the Absolutist State. Anderson argues, first, that the particular role of Western European towns made a formal reimposition of servile bondage impossible: "...the aristocracy had to adjust to a second antagonist: the mercantile bourgeoisie... towns... the intercalation of this third presence... prevented the Western nobility from settling its accounts with the peasantry in Eastern [European] fashion, by smashing its resistance and fettering it to the manor. The medieval town... hierarchical dispersion of sovereignties... feudal mode of production... freed urban economies from direct domination by a rural ruling class.... [Urban] economic and social vitality acted as a constant, objective interference in the class struggle on the land, and blocked any regressive solution to it by the nobles." Feudal lords could agree among themselves and with the king to reimpose serfdom, but they lacked the power to do so if peasants could still (as they could in Western...

Posted by DeLong at 02:02 PM

May 01, 2003
Bradford Is Not Annoyed, But Is Rather Impressed

However, there are also a large number of very, very nice moments in William Hitchcock's Struggle for Europe as well (William Hitchcock (2002), The Struggle for Europe (New York: Doubleday: 0385497989)). I am impressed by: William Hitchcock on the fecklessness of European left-wing intellectuals: p. 10: Simone de Beauvoir... Americans, she write, "approved of all Truman's speeches. Their anti-Communism bordered on neurosis; their attitude towards... France... arrogant condescension"... "we had loved them, these tall soldiers in khaki who had looked so peaceful; they were our liberty." Now they represented "our dependence and a mortal threat".... de Beauvoir's line of attack on the United States, echoed in the writings of hundreds... missed a crucial part of the overall picture. The Iron Curtain was quite real... a decidely nasty form of political order... could well have been visited upon France, Germany, and Italy, were it not for those tall U.S. soldiers in khaki. De Beauvoir failed to see--did not wish to see--the nature of the "people's democracies" being erected in Eastern Europe under Soviet coercion... distressed intellectuals did not publish memoirs and go on the lecture circuit; they wrote forced confessions and went to prison... William Hitchcock on what Stalin was thinking:...

Posted by DeLong at 09:58 PM

Bradford Is Annoyed II

I find myself annoyed beyond reason by two short passages in William Hitchcock's otherwise very nicely done Struggle for Europe (William Hitchcock (2002), The Struggle for Europe (New York: Doubleday: 0385497989)): The second is an even more truly bizarre passage on Decolonization: p. 171: ... The independence of Ghana now led British colonial officials to accept a new logic... independence... ought to be granted swiftly so as to preserve a modicum of control over the process.... Nigeria... 1960... Gambia... 1965.... In Kenya, a large white settler population resisted a swift withdrawal, and they had to be placated.... On balance, the British experience of decolonization in Africa was a successful one... swift, done with an earnest desire to promote viable African successor states, and carried out with a marked absence of violence... I don't think many Africans today would view decolonization as "successful": I think that they would say that power was handed over to the wrong people, in successor states that had the wrong institutions, in a manner that appears in retrospect as if planned and intended to destroy Africa's hopes for progress, development, peace, and happiness for at least a full generation. Julius Nyerere and his belief that Tanzanians...

Posted by DeLong at 09:55 PM

May 01, 2002
A Strange and Sinister Sect of British Imperial Conservatives

"... the overtaking of Britain by the U.S. a century ago also involved two democracies, and the declining country found the process a painful one..." "Painful," I thought. "Painful compared to what? More painful than practicing the Hitler salute and sending one's Jewish neighbors off to the extermination camp?"

Posted by DeLong at 03:21 PM

April 20, 2002
Rawnsley: Servants of the People

Reading along, I discover that Tony Blair = Josef Stalin is Rawnsley's view, or at least is a view that Rawnsley wants to make sure is whispered into his readers ears, without, of course, leaving too many of his own fingerprints on it...

Posted by DeLong at 03:40 PM

April 08, 2002
Robert Skidelsky

In a bold pre-emptive strike, the American economist Bradford DeLong has posted a rejoinder to my theme on his home Web page...

Posted by DeLong at 04:01 PM

July 01, 1989
J. Bradford DeLong (1989), "Nassau Senior's `Last Hour' and the `Advances' Conception of Capital Revisited," History of Political Economy 21: 2 (Summer), pp. 309-310.

J. Bradford DeLong (1989), "Nassau Senior's `Last Hour' and the `Advances' Conception of Capital Revisited," History of Political Economy 21: 2 (Summer), pp. 309-310....

Posted by DeLong at 01:46 PM

September 01, 1987
J. Bradford DeLong (1987), "Review of Bernard Elbaum and William Lazonick, The Decline of the British Economy," Journal of Economic History 47:3 (September), pp. 792-795.

J. Bradford DeLong (1987), "Review of Bernard Elbaum and William Lazonick, The Decline of the British Economy," Journal of Economic History 47:3 (September), pp. 792-795....

Posted by DeLong at 11:37 AM

August 01, 1986
J. Bradford DeLong (1986), "Senior's `Last Hour': A Suggested Resolution of a Famous Blunder," History of Political Economy 18: 2 (Summer), pp. 325-333.

J. Bradford DeLong (1986), "Senior's `Last Hour': A Suggested Resolution of a Famous Blunder," History of Political Economy 18: 2 (Summer), pp. 325-333....

Posted by DeLong at 08:14 AM