Think Tanks and Tea Parties

Think tanks don’t have as much impact as they could, or should. Economists talking to each other has its uses. It is the first stage in generating ideas and trickling them down to the masses. Trouble is, in subsequent stages, those ideas tend to get lost.

Case in point: we live in a democracy. In the long run, the people get what they want. Good or bad. Looking at polling data, people tend to want bad economic policies. And that’s exactly what we’re getting.

Sound policy needs to become popular policy. Think tanks should increase their popular outreach. Going on cable news is great, but most people don’t watch cable news. Getting published in the Wall Street Journal or New York Times is great, too. But most people don’t read them.

That’s why there’s been a push toward grassroots-style activism lately. Maybe that could aid in trickling good ideas down to the masses. The tea parties that happened on tax day are only the latest example.

I would be hard pressed to find a less effective form of activism.

Many kind, sane people were there, holding up their signs and saying their peace with a quiet dignity.

They were drowned out by nuts, cranks, and assorted loons; such people are drawn to protests like moths to a flame. They make for more exciting media coverage than the average attendee. They’re louder, for one, visually and sonically. The crazies are also very good at making any event at which they appear look bad.

They hijacked an event that was supposed to be about taxes and spending. A taxing-and-spending message that I generally agree with quickly became something else entirely.

Abortion kills! End the Fed! No gay marriage! Then the conspiracy theorists. We must stop the cabal of five Jewish bankers who run the world financial system from impoverishing us all for the benefit of Israel!

Where do these people come from? They were everywhere.

It almost made me embarrassed that I favor lower taxes and spending. Are these my fellow travelers? What am I thinking?

By comparison, even the loftiest, most disengaged think tank is an effective agent of change. People do listen to economists, even if they don’t understand them. We can be taken seriously. Meanwhile protesters are politely ignored, or a nuisance.

Yes, we think tankers need to spend more time speaking to ordinary folks. A lot more time. But at least we do have some influence.

Which is better than none at all.