"The GOP's Great Depression agenda"

Ryan Cooper at WaPo "Plum Line":

Paul Ryan has set everyone’s socks ablaze with a new comment suggesting he wants to shake down the country again over the debt limit. This inevitably inspired a lot of amateur psychoanalysis attempting to figure out whether he was serious or just pandering to the base. Whether that is true is an important thing to figure out, but the deeper subtext here is that the Republican Party continues to organize itself around the kind of austerity agenda that, should they obtain enough power to implement it, would cause another recession immediately, possibly a very bad one.

The Folly of Ideological Zealots, aka Republicans circa 2012

Timothy Snyder at New York Review of Books on the "Grand Old Marxists":

A specter is haunting the Republican National Convention—the specter of ideology. The novelist Ayn Rand (1905–1982) and the economist Friedrich von Hayek (1899–1992) are the house deities of many American libertarians, much of the Tea Party, and Paul Ryan in particular. The two thinkers were quite different...Yet, in popularized form, their arguments together provide the intellectual touchstone for Ryan and many others on the right wing of the Republican Party, people whose enthusiasm Mitt Romney needs.

The irony of today is that these two thinkers, in their struggle against the Marxist left of the mid-twentieth century, relied on some of the same underlying assumptions as Marxism itself: that politics is a matter of one simple truth, that the state will eventually cease to matter, and that a vanguard of intellectuals is needed to bring about a utopia that can be known in advance. The paradoxical result is a Republican Party ticket that embraces outdated ideology, taking some of the worst from the twentieth century and presenting it as a plan for the twenty-first. 

Romney’s choice of an ideologist as his running mate made a kind of sense. Romney the financier made hundreds of millions of dollars in an apparent single-minded pursuit of returns on investment; but as a politician he has been less noted for deep principles then for expediently changing his positions...

Rand in reality...

Insofar as he is a man of principle, the principle seems to be is that rich people should not pay taxes. His fidelity to this principle is beyond reproach, which raises certain moral questions. Paying taxes, after all, is one of our very few civic obligations. By refusing to release his tax returns, Romney is likely trying to keep embarrassing tax dodges out of public view; he is certainly communicating to like-minded wealthy people that he shares their commitment to doing nothing that could possibly help the United States government. The rationale that Ryan’s ideology provides for this unpatriotic behavior is that taxing rich people hinders the market...our primary responsibility as American citizens is to give way to the magic of the marketplace, and applaud any associated injustices as necessary and therefore good.

Ryan and Rand

The Ayn Rand fan club, "Atlas Society", has done the country a real service in releasing a transcript of Veep wannabe Paul Ryan's 2005 talk in praise of the pop novelist and self-styled "philosopher." This speech is not some youthful indiscretion, but insights into his intellectual, political and moral development well into his third congressional term. The (numbers) mark time into the audio recording of Ryan's remarkable self-revelation - one which not too surprisingly he has recently attempted to disavow in a predictable act of cowardice:

(1:45) I just want to speak to you a little bit about Ayn Rand and what she meant to me in my life and [in] the fight we’re engaged here in Congress. I grew up on Ayn Rand, that’s what I tell people..you know everybody does their soul-searching, and trying to find out who they are and what they believe, and you learn about yourself.
 

(2:01) I grew up reading Ayn Rand and it taught me quite a bit about who I am and what my value systems are, and what my beliefs are. It’s inspired me so much that it’s required reading in my office for all my interns and my staff. We start with Atlas Shrugged. People tell me I need to start with The Fountainhead then go to Atlas Shrugged [laughter]. There’s a big debate about that. We go to Fountainhead, but then we move on, and we require Mises and Hayek as well.

 

(2:23) But the reason I got involved in public service, by and large, if I had to credit one thinker, one person, it would be Ayn Rand. And the fight we are in here, make no mistake about it, is a fight of individualism versus collectivism.

Romney, Ryanism and Ayn Rand

Simon Schama at Financial Times:

This much you have to give Mitt Romney: by choosing Paul Ryan as his running mate he has made it impossible to avoid turning the presidential election into a genuine and long overdue debate on the nature, extent and responsibilities of American government...

Because Mr Ryan (unlike the top of the ticket), is in the habit of actually attaching numbers to his budget proposals, there is a faint possibility that the debate between Americans who want to retain the institutions of the New Deal and the 1960s (such as Medicare) and those who believe that under Franklin Roosevelt and Lyndon Johnson the country took a fatal step towards collectivism, will actually have to consider evidence rather than collapse into the usual exchange of uninformed abuse that gets confused with argument.