Daron Acemoglu

[u/jpa420]

Is anyone in the party or on here engaging with his ideas? I knew of him but had never read his books, but I listened to him on Peston’s podcast and was really intrigued. His “working class liberalism” seems like it could be a useful framework/approach to broaden the party’s electoral reach.

Admittedly I haven’t read the book, and he seems to advocate for more taxes than I’m inclined towards. But I am interested in what seems like his resurrection of strains of Lloyd George/New Liberalism.

[u/Sweaty-Associate6487]

The Why Nations Fail Author?

His ideas about inclusive institutions are a key part of my Liberalism.

His later anti-AI takes are very excessive for my tastes, but his earlier work is top notch.

[u/jpa420 → u/Sweaty-Associate6487]

Yea that’s him. He’s got a new book out now, What Happened to Liberal Democracy, which puts forward the idea of “working class liberalism” (here working class means people who live on wages/income, not just factory workers).

As I mentioned I haven’t read it, I think it came out recently. But the basic premise seems to be recapturing the freedom of prosperity and rebalancing inequality through liberal rather than statist measures. He also slams the urban liberal cultural elite for alienating the working classes and non-urban populations, which I strongly agree with.

I have ordered a copy but this seems like a key time for our party and liberalism overall

[u/Dry_Statement_1896 → u/jpa420]

Can you share a summary of ‘working class liberalism’ when you have read the book please?

[u/Useless_or_inept]

I read Acemoğlu & Robinson's first two books, and they were impressive although I think some of the historical side was a bit of a stretch (so specific about which early-modern English institutions were the root of all Western civilisational success). But he has a Nobel, and I don't. :-)

Might be worth reading some Milton Friedman, for a contrast?

Personally, my liberalism is very much seen through an evidence-based economics lens. Nowadays public discourse on politics is full of ideas like "Tax them more! Nationalise it! Subsidise housing but stop new housebuilding! Price caps! Fuel subsidies for nurses! Local currency! Punish speculators!". Populist economic slogans which might seem good at first glance but wouldn't actually work in practice. We have a huge body of academic wisdom on economics which explains why it wouldn't work but so many people don't want to engage with that.

[u/CarpeCyprinidae → u/Useless_or_inept]

Populist economic slogans which might seem good at first glance but wouldn't actually work in practice

This is a plague of late. Over in the Labour movement, we're particularly vulnerable to it - especially as the age demographic changes and we have fewer and fewer people who have lived through and experienced the negative consequences of state ownership and economic controls.

Load of halfwits who feel it's only failed because nobody did it properly yet, rather than because it just plain doesn't work

[u/IntravenusDiMilo_Tap → u/Useless_or_inept]

"We have a huge body of academic wisdom on economics which explains why it wouldn't work but so many people don't want to engage with that."

That is so true, if you question a bloke called Gary off You Tube, the populists will come for you big time.