The Age of Delirium

It's been a while since Billmon has knocked one completely out of the park, but, when he gets the fat part of the bat on the ball . . . . Here's an excerpt. Go read the whole thing.

"It's getting hard to see how these trends can be reversed. Maybe they can't (which would explain why all empires, at least so far, have eventually declined and fallen.) In the past I've used the economic concept of market failure to describe the process whereby dissident voices and uncomfortable views are gradually weeded out of the "marketplace of ideas," allowing errors to go uncorrected, lies to go unchallenged (or ignored) and ideological orthodoxy to calcify into self-delusion:

Watching the punditocracy spin its ideological wheels these days, it's hard not to be reminded of the later years of the Soviet Union -- a nation dedicated to proposition that the marketplace of ideas should never be allowed to clear. As the system declined into senility it, too, became increasingly detached from reality. Soviet pundits and academic ideologues churned out reams of bad ideas and stupid policies. Soviet Krauthammers advised the Politburo to invade Afghanistan. ("It will be a cakewalk.") Soviet [James] Glassmans told it to crank up the central planning. ("Traditional capitalist measures of valuation mean nothing.")

When the public discourse on Edward R. Murrow's old network consists of Katie Couric introducing Rush Limbaugh's buffoonish views, you know the intellectual and ideological rot is well advanced -- maybe not quite as far as the Soviet Union in the '80s, but getting there. One of my favorite books about the Soviet collapse was titled "The Age of Delirium" which I think perfectly captured the progressive insanity of a system that could no longer even understand, much less believe, its own lies. I think of that book practically every time George W. Bush or Dick Cheney or Donald Rumsfeld open their mouths in public."