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    THESCHOOLOFWASHINGTONFull, Freque nt, and Fearless Discussion

    Volume II

    a non-affiliated, non-profit magazineall rights reserved - SchoolofWashington.org

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    - Table of Contents -

    Business & Finance

    Lyceum: Critical Discourse

    Culture & Arts

    Politics & Policy

    Te Golden Age o Banking: Financial Integrity in the Gilded Age...................................................... 3Another Black Eye or the Financial Sector................................................................................................. 4Whom do you believe? Krugman or Paulson.............................................................................................. 5

    Te Fantastic Final Collection o Alexander McQueen: Paris Fashion Week Fall 2010................... . 6Israel..................................................................................................................................................................... 7Restaurant Review: Kotobuki......................................................................................................................... 7

    Neoconservatism and President Bush........................................................................................................... 8Printed Journalism: Making Sense o the Inormation World................................................................ 9

    Point/Counter Point: John F. Kennedy was a Great President.......... .......... .......... .......... ........... .......... ... 10A Walk on the Supply Side: Te 1980s and oday..................................................................................... 13Conservatism and the Limits o Logic.......................................................................................................... 14

    - Follow Us Online -www.schoolowashington.org

    - Advertisement for New Writers -Our organization thrives on talen. We are always looking or new writers toshare their writing and passion with the GW community. I you believe you

    possess the talent required to write or our magazine, please email Copy EditorClaudia Powell at [email protected] to set up an interview.

    - Disclaimer -Te individual and diering views presented by the individual writers o this

    organization do not speak or the writers o this organization as a whole. Tisorganization seeks to promote and endorse thought by students, not a specic

    agenda or standpoint.

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    on this scale cost money. Here J.Pierpont Morgan and his Wall Streetcohorts entered the scene. America

    still consisted o a edgling agrariannation and lacked sufcient capital tound railroads on the scale necessaryor economic return. Europe didpossess the capital, and Europeancapital traded on the London RoyalExchange, the eras world nancialcapitol. European investors gazedhungrily rom their palaces across the

    Atlantic at the New World ripe orinvestment, but how could they gaugethe quality o American corporations?

    In the 19th century the ree marketruled in terrible splendor, whichmeant that no regulation existed topromote business standards. Lack oefcient communication also hurtthe ability o investors to judge thesuccess o a company. Be sure thatrailroads ailed as oten as they sprangup.

    Strouse reafrms the point repeatedly:the international good name o

    banking houses like Morgans allowedthem the trust o European clients.

    American bankers used this trust tounnel money en masse rom Europeand turn America into the tremendousindustrial power it became in the 20thcentury (not to mention crowning

    Wall Street the new nancial capitalo the world). Bankers judged and

    worked personally with railroads,thereby providing the reputabilityEuropean investors needed. I the

    clientele saw that their banker abusedhis middle man position or privategain, the man could not be trusted.Te banker would cease to haveaccess to unds. Te only way bankerssurvived, thereore, was through themaintenance o integrity.

    Te Golden Age ofBanking: Financial

    Integrity in the GildedAge

    By Peter A. HoranEditor-in-Chie

    Gentlemen,You have undertaken to ruin me. I willnot sue you, for law takes too long. Iwill ruin you.Sincerely,

    Cornelius Vanderbilt

    Tis letter, penned by the greatCommodore to his business partners

    when he discovered their plot todrive him out, captures the ruthlessspirit o Mark wains Gilded Agenanciers. We really consider thisperiod the 1880s, but these men builtand dominated American nancerom 1860-1900. We know them asrobber barons and corsairs that

    stolethe working mans rightul pay tosatisy the greed o a ew, providingthe gilding o the age. We believethey kept the wealth in their amiliesregardless o merit, exercising abreathtaking talent or nepotism. YetI contest this prejudiced evaluationby Labor o Capital.

    Te nature o Gilded Age nanceactually bred integrity in its bankersout o necessity or survival. What we

    judge as greedy nepotism reectednot a remarkable desire to hoard

    wealth, but one to establish concretetrustin business associates.

    Still recovering rom a nancialrecession people believe was brought

    on by a contemporary Americanbanking greed mirroring the Gilded

    Age, the question o business ethics

    naturally occupies our attention.

    Morgan: American Financier(1999),an excellent book written by JeanStrouse, deals with J.P. Morgan andsuch questions at nances grand

    American inception. A Morganapologist, Strouse continually deendsthe integrity o Morgan and his ellowbankers as a necessity to successgiventhe business climate.

    Family and integrity revolved aroundthe high-risk international nature orailroad production and maintenance.

    Wall Street, that great hub o nance,even came to be through underwritingand trading railroad securities in the1830s. New York served as a naturalocal point: a large city connecting

    Atlantic ports with American cross-country transportation.

    Consider the abulous protability

    o American railroads. America romAtlantic to Pacic still slept, a vast giantwaiting to be mobilized in production.Te only way to accomplish this eatlay in spanning the great expanse.Railroads provided the efcientlong-distance transportation needed.Railroads meant growth in almostevery industry known to developedcountries: huge purchases in the realestate market or land, orests clearedand timber harvested, vast quantities

    o steel made or tracks, thousandso people employed to lay the tracks,and transportation made possible orpeople and commodities. Railroaddevelopment moved economies.

    As one can imagine, production

    Busi n ess & Fi n a n c e

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    Family played a major role incementing this trust. Not only didtrust matter between banker andclientele, but it also aected therelationship between bankers. When

    raising, handling, and maintaininglarge sums o money or extendedperiods o time and distance, bankersneeded to trust their ellows. Again,a misappropriation o unds spelleddisaster: a good name gone orever.

    Who better to trust than those closest:the amily? Tus banks operated

    with the same ethos as the Europeanaristocracy (or the Maa, to descendto vulgarity): the pateramilias puthis sons in charge o branches around

    the world to capitalize on amilialtrust, and married his daughters topromising banking colleagues. J.P.Morgan owed much o his earlysuccess to his ather, Junius Morgan,

    who conducted business romLondon. Tus the Morgan amilybridged the Atlantic like the Colossuso Rhodes, as one contemporary

    reporter so classically ramed it. TeGreat European banking amilieslike the Rothschilds and the Baringsprovided the Morgans with properprecedent. Only such assurances otrust, both in amily and character,

    allowed nanciers to bestride theglobe, especially those o America.

    Not only did integrity in characternecessitate itsel, but bankers like

    J.P. Morgan stood by honor withpatrician tenacity. Strouse providesexcerpts rom the Pujo rialsdocumented testimonies. akingplace in 1912 over Washingtons wishto curb private sector nancial power(much like todays Congressional

    Hearings), the court summonedMorgan. In the ollowing exchange,Samuel Untermyer, the lawyer,questions Morgan about the groundsor lending money. Morgan, in ronto all the world, deends character asthe basis or business:

    Untermyer: Te basis o banking is

    credit, is it not?Morgan: No sir. It is because peoplebelieve in the man.Untermyer: Is not commercial creditbased primarily upon money orproperty?

    Morgan: No sir; the rst thing ischaracter.Untermyer: Beore money or property?

    Morgan: Beore money or propertyor anything else. Money cannot buyitbecause a man I do not trustcould not get money rom me on allthe bonds in Christendom.

    Morgans zeal or character broughthim such success that his namestill graces the two o the greatest

    nancial rms one hundred yearsater his death: Morgan Stanley andJ.P. Morgan Chase & Co. Perhaps weshould not pester bankers o todayinto turning away rom Gilded Agebusiness practices. Rather, we shouldurge bankers to give themselves moreully to them.

    Another Black Eye for

    the Financial Sector

    By Joseph CordiChie Financial Ofcer

    Roughly three years ago, HenryPaulson and Ben Bernanke were inthe midst o working to mitigate theimminent nancial crisis. Stabilizingthe housing market and removingthese toxic assets rom big banks

    were two o their biggest priorities.Te reasury decided to inuseFannie Mae and Freddie Mac withtaxpayer money to cover some otheir losses in subprime mortgages.Te two institutions were expectedto pay back in ull the $148 billiondollars given to them. Between this

    agreement and ARP, taxpayers were

    on the hook or almost $900 billiondollars. Te government said thatthese moves were necessary to avoida worldwide calamity. Tey were nothandouts but investments.

    Good news came out earlier this week that the ot-criticized ARP(roubled Asset Relie Program) wasnot only going to be paid back in ull,but that taxpayers were actually goingto make a prot o roughly 8.2%.

    Te prot posted even beat the yieldon 30-year reasury Bonds. It is nosecret that politicians who backed theinitial passing o ARP by PresidentBush had to vehemently deendtheir position to angry taxpayers.Te Democrats have been unable toturn the ARP success into success in

    their political races, showing that the

    American people are not yet willingto orgive Wall Street.

    Unortunately or the nancial sector,the aorementioned positive news iscurrently being overshadowed byreports that the government mayhave to pump more money intoFannie and Freddie i the economydoes not grow substantially. TeFederal Housing Finance Agency hasbeen assessing stress tests o the two

    institutions since the initial loan wasmade. Tey published reports sayingthat the two institutions will needany rom $73 to $215 billion dollarsmore in order to continue running.Republicans have reprimandedDemocrats or not xing theaws o Fannie and Freddie ater

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    the two programs were placed inconservatorship ollowing the bailout.However, the Obama administrationsaid that the majority o initial

    problems and maligned practices were xed. Te real losers here areneither those in the nancial sectornor politicians, but the taxpayers.

    Wall Street continues to drit urtherrom Main Street.

    Whom do you believe?Krugman or Paulson

    By Jonathan CohenBusiness & Finance Editor

    Whats really happening? EconomistPaul Krugman orecasts a thirddepression. Hedge Fund magnate

    John Paulson is betting the house ona Recovery.

    Since the beginning o the nancialcrisis, Princeton proessor andeconomist Paul Krugman has beenresolute that the ederal governmentmust amass large decits to make upor a lack o private spending and tokeep the U.S. economy rom allinginto deation. Krugman not onlybelieves that i the government doesnttake action we will ace a double-dip. Rather, he threatens a thirddepression. He eels this depression

    may not be as devastating as theGreat Depression o 1929, but morecomparable to the Long Depressiono 1873.

    I this scares you, consider anotherview o one o the most prominenthedge und managers, John Paulson.Paulson was actually prescientenough to predict the great housingcrash just a ew years ago, and madea killing doing it. He has a totally

    dierent view than Krugman; heeels that were in the middle o asustained recovery, and that the risko a double dip is less than 10%.Besides or thinking that we are outo the woods, Paulson also eels thatit is the best time to buy a house in

    America.

    Paulson has actually been bullish or

    some time now. Last spring, whenKrugman was making a case orsome key U.S. banks to be takenover by the government, Paulson wasactually buying stock in those banks,including Bank o America. Paulsonand Krugman may not have disagreedabout the health o the bankingbusiness; they just disagreed about itsrepercussions. Paulson wasnt buyingbanks because he liked the bad assetsthey had owned; instead, Paulson

    recognized that the nationalizationKrugman advocated was not going tohappen, and that the ederal backingand bailouts o the US Governmenttook much o the risk o buying bankstocks.

    With the government givingmassive bailouts and covering thedownside, investing in U.S. nancialinstitutions was an easy choice.Paulsons holdings as o Mar. 31

    indicate nearly $3 Billion o Bank oAmerica common stock and about $2billion o Citigroup common stock.

    Although banks have risen drasticallyrom their 2009 lows, Paulson eelsthat they have much more room torun, especially i housing prices rise.

    Besides putting money in thecommon stock o US Banks, Paulsonhas also invested in riskier assets likecasino stocks and vacant residential

    land in hard-hit Florida and SouthernCaliornia markets. As a private hedgeund manager, Paulson does not haveto tell the public every investmentthat he makes. Nevertheless, rightnow Paulson seems extremely bullishon the US economy.

    Krugman, by contrast, sees a totally

    dierent picture. Te main reasonKrugman is so bearish on theeconomy is unemployment. As longas it remains at such high levels, hebelieves people could be out o worklong enough to be untrained to hold

    job.

    Paulson has a more straightorwardview: Americans are beginning tospend again, in ways not too dierentrom the way we did beore, buying

    second homes and putting moneyback into the stock market. At thesame time, Paulson does not believethis is all good; as the Americaneconomy returns to normal anddemand picks up, the years oextremely low interest rates will comeback to haunt us, causing inationthat Paulson sees possibly reachinginto the double digits within a ewyears. Tats why, in addition to UShousing, Paulson is heavily invested

    in gold.

    Te debate over the economy canbe thought o as a bet; Paulsontaking one side, Krugman the other.Paulsons got actual money on thetable, but or both men, the main riskis reputation. Is Paulson another WallStreet one-hit wonder, only able topredict the Great Recession o 08?Is Krugman another academic withno knowledge about whats actually

    going on in the real world? Only timewill tell.

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    Cult ur e & A r t s

    Te Fantastic FinalCollection of Alexander

    McQueen: ParisFashion Week Fall 2010

    By Lily ColleyCulture & Arts Editor

    Each piece is unique, as was he.

    Despite any level o originalityeatured within competing Fall 2010collections, the Paris shows will

    undoubtedly be remembered as theseason o Alexander McQueens nalcollection.

    Te groundbreaking designer, givenname Lee Alexander McQueen,

    was ound hanged in his Londonapartment on February 11 at the age o40, just nine days ater the tragic deatho his beloved mother. Te designer,

    who was openly gay, suered romvarious mental instabilities and his

    death was declared a suicide. Despitethe many tragedies o McQueenslie, particularly the death o museIsabella Blow, the young designer wasextremely accomplished, even earningthe International Designer o the Year

    Award in 2003. Te culmination ohis career is considered Lees 1996appointment as head designer oGivenchy.

    Te nal 16-piece collection o the

    Alexander McQueen label debutedthis all in a gilded and mirrored room

    within the headquarters o luxuryitan Francois Pinault. Only a eweditors attended the intimate ashionshow in order to reect the tragedysurrounding the designers untimely

    death. Sarah Burton, McQueensright-hand, said that eighty-percento the pieces had been cut and

    draped on the stand at the timeo the designers death. She addedthat, unlike previous occasions, thedesigner had separated himsel romtechnology during the creation o thecollection. She said that McQueen

    wanted to return to classical tailoringtechniques, inspired by his medievalhistorical studies and master painters.Distinctive aspects o the collectioninclude: gilded mohawks andeathers, deep red and gold tones,

    silk-photographic prints, long-torsobustiers with gathered miniskirts,gold-accented black leather heeledboots, structural and belted jacketsand air-eminine ull-length tooldresses.

    McQueens unique ability to usethe intricate beauty o the past andthe hybridization o the uture isexemplied through his bittersweetnal collection. Te ultra-tailored

    collection eatures corset-liketops with low, on the waist helm-line dresses. Sculptural triangularsilhouettes and acial details classiythe collection. In the solemn baroquesetting, models appeared impeccablyclassic and simultaneouslyultramodern. Tis is accomplishedthrough his juxtaposition o lushabrics and warm elemental colors

    with photographic iconography andornate gold embroidery. Artworks

    by Jean Fouquet, Sandro Boticelli,Stephan Lochner, Hans Memling,Hugo van der Goes and HieronymusBosch were captured digitally andtranserred onto red, gold and silverdresses embellished with ornateembroideries.

    Arguably the most revolutionary lookeatures a knee-length collared jacket,

    with a ull-length gold-embroidered white-tool skirt and pale-acedmodel. Remarkably, the jacket eveneatures individually painted gold-lea-coated eathers.

    With a haunting soundtrack ooperatic music, the presentation wassolemn, unereal and even a littlespooky and the reerences toangels, broken skulls and religiousthemes eerily prescient. ears were

    welling in the eyes o some spectatorsas the nale dress entered: a grand coato gold eathers that ended in a rotho embroidered tulle, an attendeeand representative o Womens WearDaily said o the atmosphere withinthe collections Paris couture runwaydebut. McQueens nal collection is aproud last legacy; a classically unique,royally reminiscent and lavishlycolorul collection to be rememberedand cherished.

    Despite the tragedy, McQueensparent company, PPR, announcedthe brand would continue withoutits Creative Director. At the time,the company made no commentregarding the sensitive issue o designsuccession. Te company has sinceannounced that Burton will takeover as Creative Chie. McQueensline now, more than ever, needs thesupport o its loyal admirers.

    Robert Polet, President and ChieExecutive Ofcer o Gucci Group,

    was overcome as he rushed backstageto see the design team. It was a verymoving experience to take a deep andserious look at his last collection. It

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    showed Lees unique talent to createpieces o beauty that touch many o

    your senses, leaving one enriched,Polet said later. He added: Although

    the sense o loss aterwards, I oundoverwhelming.

    Jordan

    By Lauren FinkelsteinColumnist

    I remember sitting in the back o theJeep, unable to clearly see the desertdunes in the moonlight, but eelingsand in my lungs as the tires spit dustin my ace. en minutes had passedsince we let the Bedouin Camp; Salahstill reused to reveal our destination,and Petras streetlights aded as wedrove deeper into the desert. I tried

    to suppress my angst as Arab musicblasted rom the Jeeps stereo andmy runaway imagination paintedthe headline: Tree American eensKidnapped in South Jordan.

    Te dust settled, and the Jeep halted inront o a cave. Humming in Arabic,Salah led us inside where we sat in acircle on thin Bedouin mattress padscovering the sand-packed ground.He served us sweet tea, secured three

    dimly lit candles on ledges in thecaves walls, and spoke his rst wordssince we let the comorting re o

    the Bedouin Camp: How do youlike the Middle East so ar?

    With the tea easing my nerves Ireplied, Well, I like it. I mean, itsreally ar rom what I imagined.Ten, I dropped my guard andrevealed my preconceptions o theMiddle East as a terriying place

    with violence and unriendly people, which seemed so oolish given thecongenial hospitality o my hosts and

    acquaintances.

    Salah touched the cave wall andinterrupted, What kind o stone doyou think this is?

    Slightly conused, I responded, Idont know.

    ouch it, he told me. I reached andelt a sandy residue come o onto myngertips. Its sandstone.

    See, you dont know what kind ostone it is until you touch it, andsometimes it just takes a touch or old

    walls to crumble.

    My personal walls had developedmy entire lie. As a member o apolitically active amily, eveningdiscussions oten turned into politicaldebates over Iranian sanctions or the

    West Bank and Israel. During my gapyear I embarked on an independent

    journey o cross-cultural travels,internships, jobs, and riendships; as Icrossed borders, I developed a uniqueperspective on the world. Abandoningthe news anchors view, in whichexternal issues and stereotypesdene people, I developed a globaloutlook ocused on individuals whotruly compose a region beyond itsgeopolitical boundaries. Troughoutthe rest o my gap year I continuedto demolish my personal cave walls asI traveled rom place to place aroundthe world and expanded my horizons.

    Restaurant Review:Kotobuki

    By Zachary GorelickColumnist

    A mackerel is an incredibly difcultsh to prepare. Being one o the mosttender and avorul sea creatures

    available or consumption, mackerelis a ticking time bomb. Most sh canbe rozen or some time and remainedible. Mackerel, however, have anincredibly brie lie span. From theinstant the sh is gutted, sushi chesanxiously await the optimal moment

    when the sh leaves the state o rigor

    mortis and becomes the sot delicacythat is known or its complex avor.Oten, this state lasts only a ewhours, perhaps a day at most beorethe sushi begins to stink and spoil.It is by a restaurants raw mackerel,pressed and served in the style osashimi, that one can almost always

    judge a sushi experience.

    My dining experience at Kotobuki, asmall sushi restaurant situated o oGeorge Washingtons Mount VernonCampus, was one such instance.Che Abe o Kotobuki personallydelivered my mackerel to me. Tesh was odorless, an excellent sign,and its scales, smooth and sot, are

    gorgeous. But what really strikes me:its absolutely delicious.Kotobuki is the closest to atraditional sushi restaurant that Ihave ound in the District. Whilethere is competition that is both moreexpensive, more popular and ratedhigher, Kotobuki takes the approacho the outsider, bringing Japanese

    culture to the market as opposedto Americanizing their oerings.Good luck nding a Spicy VolcanoMayonnaise Roll here. Instead,Kotobuki oers simple dishes with asuperior level o reshness and oodquality. As is traditional, the cheprepares the sushi with the proper

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    L y c eum: Cr i t i c a l D i sc our se

    amount o wasabi included, no needto mash articially green horseradishinto a small bowl or douse each piece

    with an ocean o soy sauce. Te waitsta is also traditionally Japanese,adding an element o authenticity to

    their dining experience. Kimonoed women politely take orders andbustle about, never stopping to chator advertise a new special.

    In terms o the menu, Kotobukikeeps it plain and to the point. Sushiis oered a la carte, with consistentlytasteul slices o scaled sh, varioussh eggs, crustaceans and a chewyand acidic portion o sea urchin, amust-have or the sushi enthusiast.

    Te yellowtail stands alone as the bestexample o Kotobukis sashimi andnigiri oerings. Te lobster salad,though sometimes served a bit toocold, is an easy second.

    Te rolls are in short supply, withonly a ew options listed on themenu, though the che is open toany and every roll you can imagine

    by request. Te sot shell crab roll,though absent rom the menu, isdelectable comort ood, with the hotoil and chewy pincers nearly meltingamidst the seasoned rice. Kotobukidoes oer American classics such as

    the Caliornia roll, but its denitelynot where the restaurant earns itsstripes.

    Ater becoming acquainted with therestaurant, the best course o actionor any rst time diner is to samplethe Japanese cuisine and try some otheir signature courses such as thesteamed monksh liver. It is a well-

    worth-it step outside o the comortzone. Te thickly sliced liver is

    marinated in sweet and sour liquorand served with diced cucumbers,allowing the crispness o the reshvegetables to contrast the butteryrichness o the sh innards. Likewise,the kamameshi, a hot mix o meat orsh with ried rice, is quite the show,brought to the table still cooking in asteaming wooden platorm.

    While the dessert oerings are slimto none, the mochi is an interestinggamble. Sometimes a bit toorozen, losing some o its avor totemperature, the mochi is a green teaor mango ice cream enveloped in a

    tightly wrapped stretch o white ricecooking dough. While the green teasavor is more complex, the mangoice cream is sweeter and much moretting o a dessert choice.

    It seems that Mr. Abe, as hesaectionately known, doesnt seemto care about keeping up with sushitrends or perpetrating commongimmicks oten ound in such a venue.Te ches conservative approach to

    ood shows the discipline to demanda respectable level o preparationcoupled with a consistency that mostrestaurants would be honored torival. Kotobuki doesnt attempt toinvent the concept o sh on rice;it ocuses on perecting the basicsand challenges the customer to walkaway with a higher standard o oodquality.

    Neoconservatism andPresident Bush

    By Joseph R. NaronYeoman-at-Large

    Former President George W.Bush is set to release his politicalmemoir, Decision Points, in earlyNovember. o the extent whichintelligent discussion is still possiblein our intellectually vacant andvapid public square, I anticipate aood o reminiscences (both criticaland sycophantic) o his presidencyscrawled across various book reviews

    and op-ed pages. My ear is that adesperately needed reexaminationalong with an vocal reassertion o theideas which animated his presidency,specically his oreign policy doctrine,

    will be undermined by cynics whostop at nothing to debunk the moralpretensions o political action intandem with idealists who choose toignore moral judgment o the endso political action while ocusingexclusively on perceived violationsvia its means. Te possibility o aUnited States which guards a stableinternational political order so that

    justice and reedom may take rootthroughout the world seems bleaker

    as time advances.

    For theologian Reinhold Niebuhr,the coalition o cynics and idealiststhat reigns over the liberal stateundermines the liberal ideology itsel.

    A society that is unied only by anidea o historical progress marchingtowards liberty is weak and shallow;it lacks a culture that engenders anyhigher loyalty. It protects the rightso abstract economic man, while itsdiligence in other spheres wavers.Te doubt o a universalism (eithercultural or philosophical) perhapsmore compelling than the rights oeconomic man renders the liberal state

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    unable to deend its premises. Muchas political Marxism collapses whenits premise o inevitable historicalprogress does not materialize,liberalism governs an increasinglyractured polity; it ails to enorce

    assimilation and evaporates alongwith its rights o man. I the liberalconceptions o justice and equalityunder the law cannot be protected athome, why would we waste the eortto destroy their enemies abroad?

    Enter the Bush administration andits guiding principles, which wecan generally call neoconservatism.Te neoconservatives understoodthat in order to preserve the best o

    liberalism at home and grant the gito its universally worthy ideals toanyone wishing to accede to them

    elsewhere; the modern statesmanleading the children o light (to useMichael Novaks conguration oNiebuhrs political theology) wouldhave to communicate with thechildren o darkness through the only

    language they understand: the use oorce. Enter also a political thinkingthat privileges decision making onthe basis o morally just ends. What

    we have lost in this country withthe purported intellectual demiseo neoconservatism is a politicaldiscourse ocusing on the moral

    justication or the ends o action.Instead, we are let to squabble aboutthe means.

    I private individuals through non-governmental organizations canintervene against corrupt regimes

    to deend human rights, ollowingMichel Foucaults ormulation ole droit dingrence, why cannotgovernments (constituted by privateindividuals and embodying their

    will) use their power to intervene

    in the domestic aairs o anothernation to end the violation ohuman rights? I nd no convincingargument to why this idea should notbe enthusiastically endorsed. Howare we to be viewed i we persistentlyail to express our solidarity with ourellow man in chains while resting in adeceptive peace? I believe history will

    judge President Bush kindly becauseo his unwavering compassion orand will to act against the tyrannical

    purgatory suered by so many aroundthe world. We must seek to expandhis legacy.

    Printed Journalism:Making Sense of theInformation World

    By Claudia PowellCopy Editor

    o become invested, nancially oremotionally, in print journalism inthis day and age seems to be somethingo a ools game. Circulation is downor nearly every print publication inthe nation as the Internet continuesto undamentally transorm theindustry. Te morning newspaperis no longer the premier orm o

    journalism as its limits become more

    apparent. Although newspapers serveas an important institution withinour democracy, they are rapidlybeing replaced as the practicalityo knowing yesterdays news rapidlybecomes obsolete. Te modernnews cycle is 24-hours a day and hasbecome increasingly mobile with the

    advent o new technologies that allowconsumers to access content with theick o a nger. Upon combiningsources o every variety, ranging romsmartphone web access to witterusage, it is evident that citizensare spending more time on newsconsumption than ever beore.

    Te competition or peoples timehas heated up as news consumptionbecomes increasingly ragmented. Asingle source is no longer adequate;new emphasis on the personalizationo news is reective o the disjointed

    way in which people seek out media.Consumers have much greatercontrol now than they ever did over

    what news they will come across.ools such as search engines haveput it almost entirely in the hands oreaders. Te traditional agenda settingthat journalistic legends like WalterCronkite provided no longer existsto the same decisive (and inuential)degree.

    Sure, news outlets still have aneditorial sta that makes decisionsabout what will be eatured and howprominently, but news judgmentsare no longer made by such a smallnumber o people. Te newsmaker/consumer relationship has changedundamentally in the last decade,especially since the Internet becameso mainstream and accessible.Dispensing inormation is journalismo the past; there is now a two-wayow o inormation that allows orgreater audience interaction and callsinto question the accuracy o evencalling consumers an audienceanymore.

    Te Internet spurred two essentialchanges to the traditional journalismmodel. First, it moves inormation

    with zero variable cost, meaningthat there is no nancial barrier togrowth. Second, the low cost o entrymeans that practically anyone canbecome a publisher. In a proessionalsense, ewer people than ever are

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    creating the news. However, in therise o user-generated content (suchas blogs), we see that the service o

    journalism in society is as crucialand in-demand as ever. While thetraditional business model or media

    is clearly threatened by this newage o ree-or-all reporting, sucha transition also disintegrates news

    judgments making the process overallmore interactive and democratic.In getting involved in print

    journalism this late in the game, wehad an unusual situation. Firstly, we

    were obviously ortunate enoughto be able to disregard the problemthat is plaguing print journalism

    today: revenue and advertising. Asa student-run publication servingthe GW community, our operationis less about prot and more aboutconjuring intellectual conversation.(O course, even we must considerimplications o biting the hand thateeds us.) One underlying problemacing modern models o journalismas media outlets take on this nancialdebacle is how deemphasized qualityo content has become. As news

    organizations struggle to survive,they are aced with the harsh realitiesmany American industries haverecently encountered: layos andreduced budgets. As some o these

    organizations accept unding romalternate sources, such as readerdonations or charitable oundations,they may also adjust their objective.Tis is particularly alarming inmainstream media that is supposedto

    remain totally objective. Te changingrelationship between the business/advertiser side and the editorial sideo a media organization challengestraditional news values. Tese values,such as objectivity, are o staggeringimportance in the changing media

    world.

    aking all o this in, we have createdsomething that we believe serves aunique unction in our community.

    No, we dont uphold the traditionalideal o objectivity. However, theopinions o our writers are not onlyimpassioned but are also reective oa deliberate and intelligent stance.Not everyone will necessarily agree

    with their perspective, even withinour humble organization, butthese arguments serve a purpose.I they can spark interest withinthe community enough to starteven a single conversation then

    we have perormed a service. Printpublications may not be the way othe uture, but they provide a amiliarbasis or communication that cant beunderestimated even moving orward.

    Antiquated, yes, but eective or ourpurposes.

    Te media serves an undeniablyimportant role in our democracy,change as it might. Values such as

    integrity and credibility are ideals that we, and any legitimate publication,should seek to uphold even in themidst o a major digital revolution.Te sta at Te School o Washingtonseeks to be inormative and truthul,but also to provide perspective. Tehunter gatherer model is no longersufcient. What is needed is guidedprocessing o inormation, provisiono context, theoretical raming, and

    ways to act on such inormation.

    Starting up a print publication inlate 2010 is certainly a gamble. Ideasabout what lies ahead or the mediaindustry are pure speculation, as thenext Steve Jobs or Mark Zuckerbergcould pop up at any moment andagain revolutionize things. Whatis important to consider, movingorward, is the necessity o suchpublic conversation. Hybridizationhas clearly changed the economicacet o news production, but the

    oundations o inormative andcredible journalism will undoubtedlyprevail long into the uture.

    Polit ics & Policy

    Point/Counter Point:John F. Kennedy was a

    Great PresidentBy Harris Davidson, Politics & PolicyEditorAnd Maxwell Anthony, CriticalDiscourse Editor

    Davidson: Te legacy o President

    John F. Kennedy is one o the mostdisputed in US history. For hisproponents and well-wishers, JFKand his presidency are reerred to asCamelot or the aura o invincibilityand glamour that surrounded thepresident. His tragic death and theperceived Kennedy Curse only addto the mystic that has continued togrow since the end o his short threeyears in the White House.

    For his detractors and opponents,Kennedy is a mediocre president whohas been put onto a pedestal by thepop culture orces in the Americanmedia. Tey point to his meteoric riseto the presidency, short time in ofceand the Hollywood like elements ohis personal lie as reasons why he wasnot as good o a president as publicopinion polls would have you believe.

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    In order to properly evaluateKennedy, you must put aside thedrama that surrounds Americansyoungest elected president and youmust look past the gossip and semi-

    truths that have led JFK to be builtup into a Hercules-esque character oAmerican politics. When you are ableto get past the veneer that has beenapplied to his legacy over the past 40years, you are let with a man who

    was truly a great president.

    Lets start with the dening evento the Cold War and the 13 daysthat made the Kennedy presidency.Te Cuban Missile crisis was quite

    possibly the most challengingevent any president has ever had todeal with. President Kennedy hadthe monumental responsibility okeeping the two most powerulnations in the world rom wipingevery trace o civilization o the aceo the earth. Tis is no exaggeration:had we committed one alse movethe Soviets would have escalated thecrisis and we would have wound up

    with mutually assured destruction.

    Kennedy was able to balance thehawkish stance o the Joint Chieso Sta who wanted him to strikerst and disable the missiles withthose such as Robert McNamara whoelt that the presence o the missilesdidnt really matter. Always thediplomat, Kennedy was able to walkthe ne line between the two sides inorder to come up with the decisiono quarantining the island o Cuba.Te ingenious move o ignoring the

    rst telegram sent rom Moscow andresponding the second and moreconciliatory message was one othe more det moves in diplomatichistory. Ultimately the Sovietsbacked down and removed themissiles and Kennedy was credited

    with successully navigating the most

    dangerous 13 days in US history.

    On the domestic ront, Kennedyis most remembered or his NewFrontier policies o expandingeconomic growth, expanding aid or

    education, welare, housing and labor,advancing the civil rights movementand kick starting the space program.His proposals on civil rights becamethe basis or the Civil Rights Act o1964 and his promise to send a manto the moon in ten years was realizedin 1969 with the Apollo 11 mission.

    One o Kennedys greatest attributes was his public speaking ability. He was able to convey his eelings and

    messages via a speech unlike anypresident beore him. But ultimately,it was his ability to ollow through

    with what he promised in his speeches.Soon ater urging Americans in hisInauguration speech to, Ask not

    what your country can do or you; askwhat you can do or your country, hecreated the Peace Corps. His AmericanUniversity Commencement speech isremembered or its peaceul outreachto the Soviets at a tense time in

    the Cold War. And soon ater theconstruction o the Berlin Wall,Kennedy traveled to West Berlin

    where he gave his amous, Ich bin einBerliner, speech where he reafrmedUS commitment to West Berlin.

    Part o what adds to the Kennedylegacy ultimately serves to de-legitimize his presidency. We are soascinated with the parts o his lie,like P-109, his relationship with

    Bobby and eddy, Jackie O, his death,and all other parts o his personal liethat we tend to orget the intricacieso his presidency. Instead o ocusingon what he did in ofce, we allowourselves to be distracted by the other,and sometimes more interesting partso his lie. But or a president who

    was only in ofce or three years, hislegacy is quite impressive. We willalways speculate what would havehappened had he served eight yearsinstead o three. Some argue that he

    would have gone on to be the greatest

    president ever, while some say that hispresidency would have ailed had hestayed in ofce or another ve years.Speculation aside, when judged orthe three years that he was in ofceit is quite easy to see that John F.Kennedy was a great president.

    Anthony: For the past ew years I havecarried in my mind and occasionallyvoiced the opinion that politicsis the synthesis o every pejorative

    adjective. Certainly this slogan isopen to criticism. Although I am notsure i I agree with it, I can alwaysconvince mysel o the loathsomecheapness and unctuous servilityinnate to most i not all thingspolitical by reecting on the termCamelot. More objectionably thanthe terms maniest vapidity is the actthat it is employed without irony inreerence to the aura o invincibilityand glamour that surrounded the

    president. In act, a week ater JFKsassassination, Jacqueline Kennedyinvited Teodore H. White toHyannis Port and proposed that he

    write an article or Lie magazinedrawing a parallel between the JFKadministration and the Arthurianlegend o Camelot, which was thenbeing popularly rendered in thelackluster Lerner and Loewe Broadwaymusical. Both Mrs. Kennedy and

    White were quite aware o the late

    Presidents indelities and intrigues,the inconsistency o which with theCamelot myth White later notedstating the article was a misreadingo history. Te magic Camelot o

    John F. Kennedy never existed.For reasons I dont care to diagnose,

    John F. Kennedys presidency, as

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    well as the clan that shares his name,has achieved the level o enthralledinterest and celebrity enjoyed mostoten by royalty. Tis stupidly servileinatuation is only increased indespicableness when one realizes how

    undeserved it really is and how out-o-sync the popular conception othe Kennedy presidency is with thereality.

    Tis inconsistency in act and mythis evident throughout Kennedyspolitical career. Oten orgotten inthe court history is that both Senator

    John F. Kennedy and Robert F.Kennedy were political allies andamily riends with Senator Joe

    McCarthy. McCarthy was eventhe godather o Robert Kennedysdaughter Kathleen. When McCarthy

    was censured by the Senate, Kennedywas the only Democrat not to votein avor o censure, and the onlysenator not on record. At the time othe vote he was in the hospital with aback injury. Although he could havepaired his vote with another senator,he did not, and reused to indicatehow he would have voted, eectively

    taking an extremely cowardly andsel-serving stance in regards to one othe most obnoxious and destructivedemonstrations o demagogy in

    American history.

    Kennedy ollowed the McCarthystyle o alsely accusing his opponentso being sot on communismin the 1960 presidential election.He attacked the Eisenhoweradministration on the alse premise

    that they had sold out to the USSRand allowed a missile gap to develop.In reality, there was no missile gap, aact o which Eisenhower and Nixon

    were aware but did not announceor the purpose o national security.Likewise, Kennedy claimed thatEisenhower and Nixon had been too

    sot on Castro and had not supportedanti-Castro Cubans in their ghtor reedom. Te extent o thedeamations and machinations, suchas the inuence o organized crimeto help swing states in Kennedys

    avor, has been well documented andanalyzed.

    Tis type o posturing proved to beboth reckless and eckless during theKennedy administration. In regardsto Cuba, Kennedy damned himselto the Bay o Pigs crisis by his owndeamatory campaign rhetoric. Aninvasion o Cuba was already beingplanned during the administration;

    when Kennedy took ofce he lived

    up to his inated promises withawul results. Even i the results weresatisactory, though, and Castro wereoverthrown, I do not think an apologycould be made or the methods oregime change or the reactionarygovernment that likely would havebeen replaced and backed by theUnited States. Furthermore, I ndit questionable that more attentionis not paid to the operations thatcontinued in Cuba with the Kennedy

    administrations approval ater theBay o Pigs Incident. OperationMongoose consisted o US backedsabotage and terror attacks on Cuba,some which were carried out, in thehopes o ostering a revolt againstCastro by October 1962. Clearly, theoperation did more to raise tensionsand risk the apocalypse than it did toremove a dictatorial government.

    In addition to Operation Mongoose,

    Kennedys irresponsibility andposturing chanced nuclear war with the Soviet Union in theCuban Missile Crisis. Kennedyseagerness to demonstrate superiorityand toughness brought about anunnecessary conict with Khrushchev,

    who ater delivering the Secret

    Speech noting Stalins crimes andatrocities, could be seen at least as aleader with whom some compromisecould have been made. Kennedy, asis documented in David Owens InSickness and in Power, was injected

    with intravenous amphetamine justbeore meeting Khrushchev, and was, by his own admission, unableto negotiate eectively. Tis tensionadded to the existing problems othe Bay o Pigs, Kennedys missilegap rhetoric, and the Americandeployment o missiles to Italy andurkey in 1961 coalesced to producethe Cuban Missile Crisis. In act,the quid pro quo which resolved thecrisis was lied about to Congress,

    the Vice President, and the public,only giving Kennedy the illusion oorcing Khrushchev to stand down.It is this type o grand standing thatI think o when recalling the actthat Kennedy waited two years aterthe construction o the Berlin Wall,

    which was only completed in itsconcrete orm in 1980, to deliver hisIch bin ein Berliner speech. I canneither comprehend the masochisticservility necessary or someone to call

    reckless risking o nuclear war suchas ignoring the rst telegram sentrom Moscow and responding thesecond one o the more det movesin diplomatic history, nor sharethe tawdry gratitude or Kennedydiusing a crisis almost entirely o hisown creation.

    Although Kennedy brought the worldto the brink o nuclear war in hisailed eort to overthrow Castro, his

    administration succeeded in osteringa number o bloody coups. Kennedyinitiated the coup against BrazilianPresident Joao Goulart, which wascarried out in 1964 and resulted ina military dictatorship which lasteduntil 1985. Additionally, Kennedysupported the 1963 military coup

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    against Guatemalan PresidentMiguel Ydgoras Fuentes in order toprevent him losing an election to thespiritual socialist Juan Jos Arvalo.In response to continued unrest inGuatemala, the United States led

    a Green Beret counterinsurgencycampaign that included deathsquads and possibly napalm raids.

    Additionally, Kennedy supportedgovernments like El Salvador, which,he stated at the time that the nowinamous death squads were beingsorganized, are the most eective incontaining Communist penetrationin Latin America.

    Additionally orgotten are Kennedys

    ordered assassinations o Raaelrujillo in the Dominican Republicand Ngo Dinh Diem in SouthVietnam. Te latter is importantor the act o Kennedys role incommitting the United States to theVietnam War well beore OperationRolling Tunder in 1965. Otenappealed to by Kennedy apologistsand Oliver Stone style conspiracytheorists is that Kennedy had a

    contingency plan to withdrawAmerican advisors rom Indio-China.Somehow, it seems, the existence o aplan never executed negates the actthat Kennedy committed Americato the Vietnam War militarily with

    resources and symbolically calling it,the cornerstone o the Free Worldin Southeast Asia, the keystone tothe arch, the gure in the dike, andsomehow suggests that regardless oall his actions as president, wouldhave withdrawn ater reelection.Tis suggestion is unbelievableand especially slimy when oneconsiders what Kennedys policyreally accomplished. Kennedy didnot support neutralization o South

    Vietnam. I South Vietnam had beenneutralized, the National LiberationFront would have come to power.o the extent he ound this outcomeuntenable, Kennedy committed

    America to South Vietnam. In1962 the United States eectivelyattacked South Vietnam using theUnited States Air Force to bombcivilian targets and deoliate ruralareas where over 80 percent o the

    South Vietnamese population lived.Tis action was said to be in supporto a deense against terrorist orces.Likewise, Kennedy supported theStrategic Hamlet Program, in whichthe rural population was orced onto

    ortied villages in order to separatethem rom communist insurgents.Tese villages were more similar toconcentration camps and proved tobe counterproductive. Tese policiesare clearly out o touch with theimagined actions o a great president.

    Te sad sycophantic myth o Kennedyas either a great man or presidentsimply does not conorm to historicalact. He sacriced his moral courage

    or the sake o political economy,brandished a puerile bravado, cost thelives o thousands in armed conict,and risked the lives o millions innuclear war. While the sycophantsand jesters may swoon over the canto Camelot, the testimony o historyreports the ailure o the Kennedylegacy to be anything more substantialthan myth.

    A Walk on the SupplySide: Te 1980s andoday

    By Sam TeodosopoulosManaging EditorSupply-side economics, made amousor infamous by rogue economist

    Arthur Laer, its House champion

    Jack Kemp, and nally PresidentReagan, did its job in creating a newconsensus among economists on howto look at the national economy. Buttoday, it has become a requentlymisleading and meaninglessRepublican buzzword that gets in the

    way o good economic policy.

    oday, supply-side economics hasbecome associated with an obsessionor cutting taxes under any and allcircumstances. No longer do itsadvocates in Congress and elsewhereconne themselves to cuttingmarginal tax rates the tax oneach additional dollar earned asthe original supply-siders did.Rather, they support even the most

    gimmicky, economically dubious taxcuts with the same intensity.

    Te original supply-siders suggestedthat some tax cuts, under veryspecial circumstances, might actuallyraise ederal revenues. For example,cutting the capital gains tax rate

    might induce an unlocking eectthat would cause more gains to berealized, thus causing more taxes tobe paid on such gains even at a lowerrate (think the Laer Curve).But today, it is common to hear taxcutters claim, implausibly, that all taxcuts raise revenue. President Bushamously said, You cut taxes andthe tax revenues increase. Senator

    John McCain told National Reviewmagazine during the 2008 campaigntax cuts, starting with Kennedy,as we all know, increase revenues.In 2007, Steve Forbes endorsedRudolph Giuliani or the WhiteHouse, saying, Hes seen the resultso supply-side economics rsthand

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    higher revenues rom lower taxes.Tis is clearly a simplication o

    what supply-side economics was allabout, and it threatens to underminethe enormous gains that have been

    made in economic theory andpolicy over the last 30 years. Itsimportant to remember that at thetime supply-side economics cameinto being, Keynesian economicsdominated macroeconomic thinkingand economic policy in Washington.

    Among the belies held by theKeynesians o that era were these:budget decits stimulate economicgrowth; the means by which thegovernment raises revenue is

    essentially irrelevant economically;government spending and tax cutsaect the economy in exactly thesame way through their impact onaggregate spending; personal savingsis bad or economic growth; monetarypolicy is impotent; and inationis caused by low unemployment,among other things.Tese belies led to many badeconomic policies. In particular, they

    lay at the root o stagation, thatawul combination o high inationand slow growth that bedeviled policymakers in the 1970s. Based on insightsderived rom the Nobel-winningeconomists Robert Mundell, MiltonFriedman, James Buchanan andFriedrich Hayek, the supply-siders

    developed a new program based ontight money to stop ination andcuts in marginal tax rates to stimulategrowth.Te supply-siders believed that

    their tax plan would stimulate theeconomy to such a degree that theederal government would not lose$1 o revenue or every $1 o taxcut. Studies o the 1964 Kennedy-

    Johnson tax cut showed that abouta third o it was recouped, and theReagan crew expected similar results.Tus, contrary to common belie,neither Jack Kemp nor WilliamRoth nor Ronald Reagan ever saidthat there would be no revenue loss

    associated with an across-the-boardcut in tax rates. Rather, they thoughtit wouldnt lose as much revenue aspredicted by the standard revenueorecasting models, which were basedon Keynesian principles.Furthermore, the belie that theederal government might get back athird o the revenue loss was always along-run proposition. Even the mostrabid supply-sider knew we would

    lose $1 o revenue or $1 o tax cut inthe short term, because it took timeor incentives to work and or peopleto change their behavior. WhenPresident Reagan proposed a versiono Kemp-Roth in 1981, every revenueestimate produced by the reasuryshowed large revenue losses rom its

    enactment, based on standard models.Te independent CongressionalBudget Ofce produced gures that

    were almost identical. Moreover, they were adamant that only permanentcuts in marginal tax rates would

    stimulate the economy. emporarytax cuts, tax rebates, tax credits andsuch were, and still are, economically

    worthless.oday, hardly any economist believes

    what the Keynesians believed in the1970s, and most accept the basicideas o supply-side economics that incentives matter, that high taxrates are bad or growth, and thatination is undamentally a monetary

    phenomenon. Consequently, there isno longer any meaningul dierencebetween supply-side economics andmainstream economics.

    Tere is no question we could haveovercome the stagation o the 1970sas quickly or with as little pain as wedid without the supply-side idea. Butsupply-side economics has done its

    job, just as Keynesian economics didin the 1930s. Tose who campaign as

    its champions are ghting a ght longwon and it is time or supply-siderhetoric to go, with its essential truthsembodied in mainstream economicsand its perversions discarded orgood.

    Conservatism and theLimits of Logic

    By Christopher LeveroniColumnist

    Tere are crazy liberals in America.Tey advocate or the elimination othe military, radical income equality,and massive tax-rates on the rich.

    My nightmare. Tere are crazyconservatives in America, too. Tereare people who believe in shredding

    the social saety net, eliminating theincome tax (certainly its progressivenature), and instituting an AynRand-style utopia.

    Te typical moderate response is tocry like Mercutio and reject themboth. Tis is a mistake that Im tired

    o seeing made. Te liberals in theDemocratic Party really do not haveany power. Te concept o a single-

    payer health-care system, not itselsuch a radical notion, was laughed outo the room during the debate in thelast Congress. How many marcheshave you seen advocating equality oincomes in the United States? Howmany liberal commentators writeabout the road to the proletarian

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    C a m p u s O r g a n i z a t i o n A d v e r t i s e m e n t s

    Business & Finance

    Become a member o GWs premierbusiness club on campus, open to allstudents. Te Finance and InvestmentsClub hosts prominent speakers,interesting panel discussions, networking

    events and internship opportunities.Learn more about nance, real estate,entrepreneurship, how to manage yourmoney, and much more. Send an emailto [email protected] i youre interested in

    becoming a member!

    revolution?

    By contrast, I neednt even pointout to you the conservative crazies.Intelligent conservatives like PaulRyan write about a 3 percent rise

    in the marginal tax rate as a roadto serdom. Millions support amovement that scorns responsibleconservatives like Bob Bennet andMitch Daniels while characterizinga moderate president as thepersonication o the Hitler-Stalinpact. Sharon Angle characterizesSocial Security as welare; Rand Paulquestions the constitutionality o theCivil Rights Act.

    Tese views hold real sway in theparty o Lincoln. Tis is not a mattero equivalence.

    Te real problem here isnt thatRepublican partisans have suddenlycaught the crazy. Te problem is thatover time the standard Republicanarguments have been pushed to theirlogical limits. I tax cuts are alwaysgood, then why not just do away with

    taxes altogether? I abortion is murder, why should we make exceptions inthe cases o rape or incest? I privatebusinesses are private, what right doesthe government have to tell me whomthey have to serve? o some readers

    these conclusions may seem absurd,but theyre the natural conclusionso standard Republican arguments.Tese Americans live in a worldo simple extremes. I Republicansbelieve in reedom, then they mustbelieve in absolute reedom. I liberalsbelieve in equality, they must believein an absolute equality o outcomes.

    Tese views, both o them, are radical.Conservatism is never radical.

    ruthully, conservatism is notrepresented in the United States byeither party. What we have instead isa party o the economic let, removalo the economic individual rominstitutions, and a party o the sociallet, removal o the social individualrom social mores and conventions.Tere is no space or a conservatismthat emphasizes the strengthening

    o social bonds, that believes themaintenance o society - its reemarkets and its social conventions, itspast and its present - to be its chieobjective.

    Conservatism in America is adrit in asea o exaggeration.

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