Nov 20th 2014

Philosopher Kings Versus Philosopher Presidents

by Robert Skidelsky

Robert Skidelsky, a member of the British House of Lords, is Professor emeritus of political economy at Warwick University, author of a prize-winning biography of the economist John Maynard Keynes, and a board member of the Moscow School of Political Studies.

LONDON – When I recently met Irish President Michael Higgins – sharing a platform for a speech in which he connected his newly launched “ethics initiative” to a book I co-wrote with my son, How Much is Enough? Money and the Good Life – I was struck by his devotion to thought. Indeed, engaging with ideas is a passion for Ireland’s poet-president – one that more heads of states should take up.

Last May, Higgins told economics students at the University of Chicago that they were studying a deformed discipline, torn from its ethical and philosophical roots. “The recent economic and financial upheavals,” he declared, “have thrown a glaring light on the shortcomings of the intellectual tools provided by mainstream economics and its key assumptions regarding the sustainability of self-regulating markets,” especially “largely unregulated global financial markets.” He then proposed a “critical examination of some of the core assumptions that underpin economics as it is currently taught in university departments across the world.”

What other head of state would be able to pinpoint the deficiencies of economics so accurately, buttressing his arguments with quotations not just from Adam Smith, but also from Max Weber, Thorstein Veblen, and Jürgen Habermas?

Higgins’ experience as an academic and his status as an acclaimed poet undoubtedly give him an advantage over other heads of state, enabling him to hold his own with top thinkers in a way that few others can. More important, however, is his recognition that a political leader should also be a leader of thought and culture for his or her country – and the world. Such intellectual leadership should be a major function of all titular (non-executive) heads of state, an important way for them to “earn their keep.”

Of course, the head of state – whether the president or the monarch – has other critical duties as well, including acting as guarantor of the constitution and a symbol of national unity. Moreover, in proportional voting systems like Italy’s, where no single political party normally wins a majority of seats in parliament, the president often plays a key role in appointing the prime minister. The Italian president can also compel parliamentary deputies to rethink their decisions (in the United Kingdom, the monarch has outsourced this authority to the House of Lords).

But there is also considerable scope for heads of state to behave in accordance with Ecclesiasticus 44:4: “Leaders of the people by their counsels, and by their knowledge of learning meet for the people, wise and eloquent are their instructions.” This is particularly important today, when public discourse in democracies is relentlessly demotic and academic work is increasingly specialized.

Though some scholars and thinkers are fit to be “leaders of the people,” a favorable environment is needed to coax them out of their ivory towers. To this end, an open-minded, culturally literate, and ideas-oriented head of state could play a pivotal role.

Ideally, that head of state would be an elected president, rather than a hereditary monarch. Indeed, anything worthwhile that a monarch can do, an elected non-executive president can do better – not least because an elected official is much less likely to be undermined by the scandals of pampered offspring or degraded by the inevitable hypocrisy and servility of a royal court.

More important, an elected president has much greater legitimacy than a hereditary monarch, whose claim to authority depends exclusively on tradition and ceremony. With a king or queen unable to say or do anything that may cause a whiff of controversy, the monarchy has been stripped of its power of action or reflection.

To be sure, monarchs – and especially their spouses, heirs, and relations – often carve out niches for themselves, from wildlife protection to sports and charities. (Architecture has proved distinctly risky, as Prince Charles learned after launching jeremiads against modernism.) Monarchs and their courts can, to some extent, still act as leaders of art, music, and fashion, as they did in the eighteenth century. But this role has atrophied with the rising expectation that they should be “normal,” representing their populations’ habits and tastes as closely as possible.

An elected president has a stronger mandate to be controversial, especially in areas of thought and culture that lie beyond the domain of quotidian politics but shape the quality of the public space in which politics plays out. It would be inconceivable for a reigning monarch to attack the financial oligarchy, as Higgins did in his speech in Chicago.

Even in 1936, when King Edward VIII of Britain declared that “something must be done” about unemployment, he was criticized for overstepping his brief. Yet, in May, Higgins declared that his position as head of state compelled him “to represent the experience and hardships of the Irish people” in the years since economic crisis befell them.

But the most important reason why an elected president is better equipped than a monarch to catalyze a public conversation about a society’s values and priorities is that he or she is more likely to be a person of superior ability. Indeed, that is why, on balance, a meritocratic system will always produce better results than a hereditary one.

Monarchs today are reared to be ordinary, as suits their diminished role in national life. But democratic countries need symbols of the extraordinary if they are not to sink into permanent mediocrity.


Copyright: Project Syndicate, 2014.
www.project-syndicate.org

 


This article is brought to you by Project Syndicate that is a not for profit organization.

Project Syndicate brings original, engaging, and thought-provoking commentaries by esteemed leaders and thinkers from around the world to readers everywhere. By offering incisive perspectives on our changing world from those who are shaping its economics, politics, science, and culture, Project Syndicate has created an unrivalled venue for informed public debate. Please see: www.project-syndicate.org.

Should you want to support Project Syndicate you can do it by using the PayPal icon below. Your donation is paid to Project Syndicate in full after PayPal has deducted its transaction fee. Facts & Arts neither receives information about your donation nor a commission.

 

 

Browse articles by author

More Current Affairs

Mar 18th 2024
EXTRACT: "....the UK’s current economic woes – falling exports, slowing growth, low productivity, high taxes, and strained public finances – underscore the urgency of confronting Brexit’s catastrophic consequences."
Mar 18th 2024
EXTRACTS: Most significant of all, Russia’s Black Sea fleet has suffered significant losses over the past two years. As a result of these Ukrainian successes, the Kremlin decided to relocate the Black Sea fleet from Sevastopol to Novorossiysk on the Russian mainland. Compare that with the situation prior to the annexation of Crimea in 2014 when Russia had a secure lease on the naval base of Sevastopol until 2042." --- "Ukrainian efforts have clearly demonstrated, however, that the Kremlin’s, and Putin’s personal, commitment may not be enough to secure Russia’s hold forever. Kyiv’s western partners would do well to remember that among the spreading gloom over the trajectory of the war."
Mar 8th 2024
EXTRACT: "As the saying goes, 'It’s the economy, stupid.' Trump’s proposed economic-policy agenda is now the greatest threat to economies and markets around the world."
Mar 8th 2024
EXTRACT: "Russia, of course, brought all these problems on itself. It most certainly is not winning the war, either militarily or on the economic front. Ukraine is recovering from the initial shock, and if robust foreign assistance continues, it will have an upper hand in the war of attrition."
Mar 8th 2024
EXTRACT: "...... with good timing and good luck, enabled Trump to defeat [in 2016] political icon Hillary Clinton in a race that appeared tailor-made for her. But contrary to what Trump might claim, his victory was extremely narrow. In fact, he lost the popular vote by 2.8 million votes – a larger margin than any other US president in history. Since then, Trump has proved toxic at the ballot box. " -----"The old wisdom that 'demographics is destiny' – coined by the French philosopher Auguste Comte – may well be more relevant to the outcome than it has been to any previous presidential election. "----- "Between the 2016 and 2024 elections, some 20 million older voters will have died, and about 32 million younger Americans will have reached voting age. Many young voters disdain both parties, and Republicans are actively recruiting (mostly white men) on college campuses. But the issues that are dearest to Gen Z’s heart – such as reproductive rights, democracy, and the environment – will keep most of them voting Democratic."
Mar 8th 2024
EXTRACTS: "How can America’s fundamentalist Christians be so enthusiastic about so thoroughly un-Christian a politician?" ---- "If you see and think outside the hermeneutic code of Christian fundamentalism, you might be forgiven for viewing Trump as a ruthless, wholly self-interested man intent on maximizing power, wealth, and carnal pleasure. What your spiritual blindness prevents you from seeing is how the Holy Spirit uses him – channeling the 'secret power of lawlessness,' as the Book of 2 Thessalonians describes it – to restrain the advent of ultimate evil, or to produce something immeasurably greater: the eschaton (end of history), when the messiah comes again."
Mar 1st 2024
EXTRACT: "The lesson is that laws and regulatory structures are critical to state activities that produce local-level benefits. If citizens are to push for reforms and interventions that increase efficiency, promote inclusion, and enable entrepreneurship, innovation, and long-term growth, they need to recognize this. The kind of effective civil society Nilekani envisions thus requires civic engagement, empowerment, and education, including an understanding of the rights and responsibilities implied by citizenship."
Feb 9th 2024
EXTRACT: "Despite the widespread belief that the global economy is headed for a soft landing, recent trends offer little cause for optimism."
Feb 9th 2024
EXTRACT: " Consider, for example, the ongoing revolution in robotics and automation, which will soon lead to the development of robots with human-like features that can learn and multitask the way we do. Or consider what AI will do for biotech, medicine, and ultimately human health and lifespans. No less intriguing are the developments in quantum computing, which will eventually merge with AI to produce advanced cryptography and cybersecurity applications."
Feb 9th 2024
EXTRACTS: "The implication is clear. If Hamas is toppled, and there is no legitimate Palestinian political authority capable of filling the vacuum it leaves behind, Israel will probably find itself in a new kind of hell." ----- "As long as the PLO fails to co-opt Hamas into the political process, it will be impossible to establish a legitimate Palestinian government in post-conflict Gaza, let alone achieve the dream of Palestinian statehood. This is bad news for both Israelis and Palestinians. But it serves Netanyahu and his coalition of extremists just fine."
Jan 28th 2024
EXTRACTS: "According to estimates by the United Nations, China’s working-age population peaked in 2015 and will decline by nearly 220 million by 2049. Basic economics tells us that maintaining steady GDP growth with fewer workers requires extracting more value-added from each one, meaning that productivity growth is vital. But with China now drawing more support from low-productivity state-owned enterprises, and with the higher-productivity private sector remaining under intense regulatory pressure, the prospects for an acceleration of productivity growth appear dim."
Jan 28th 2024
EXTRACT: "When Chamberlain negotiated the notorious Munich agreement with Hitler in September 1938, The Times did not oppose the transfer of the Sudetenland to Germany without Czech consent. Instead, Britain’s most prestigious establishment broadsheet declared that: “The volume of applause for Mr Chamberlain, which continues to grow throughout the globe, registers a popular judgement that neither politicians nor historians are likely to reverse.” "
Jan 4th 2024
EXTRACTS: "Another Trump presidency, however, represents the greatest threat to global stability, because the fate of liberal democracy would be entrusted to a leader who attacks its fundamental principles." ------"While European countries have relied too heavily on US security guarantees, America has been the greatest beneficiary of the post-war political and economic order. By persuading much of the world to embrace the principles of liberal democracy (at least rhetorically), the US expanded its global influence and established itself as the world’s “shining city on a hill.” Given China and Russia’s growing assertiveness, it is not an exaggeration to say that the rules-based international order might not survive a second Trump term."
Dec 28th 2023
EXTRACT: "For the most vulnerable countries, we must create conditions that enable them to finance their climate-change mitigation" ........ "The results are already there: in two years, following the initiative we took in Paris in the spring of 2021, we have released over $100 billion in special drawing rights (SDRs, the International Monetary Fund’s reserve asset) for vulnerable countries.By activating this “dormant asset,” we are extending 20-year loans at near-zero interest rates to finance climate action and pandemic preparedness in the poorest countries. We have begun to change debt rules to suspend payments for such countries, should a climate shock occur. And we have changed the mandate of multilateral development banks, such as the World Bank, so that they take more risks and mobilize more private money."
Dec 27th 2023
EXTRACT: "....if AI causes truly catastrophic increases in inequality – say, if the top 1% were to receive all pretax income – there might be limits to what tax reforms could accomplish. Consider a country where the top 1% earns 20% of pretax income – roughly the current world average. If, owing to AI, this group eventually received all pretax income, it would need to be taxed at a rate of 80%, with the revenue redistributed as tax credits to the 99%, just to achieve today’s pretax income distribution; funding the government and achieving today’s post-tax income distribution would require an even higher rate. Given that such high rates could discourage work, we would likely have to settle for partial inequality insurance, analogous to having a deductible on a conventional insurance policy to reduce moral hazard."
Dec 21st 2023
EXTRACT: "Shocks are here to stay, and our task is not to predict the next one – although someone always does – but to sharpen our focus on resilience. Staying the course of politically mandated policies while minimizing the inevitable dislocations is easier said than done. But that is no excuse to fall for the myth of being victimized by the unprecedented."
Dec 21st 2023
EXTRACTS: "A new world is indeed emerging. It will be characterized not only by more interdependencies, but also by more insecurity, danger, and war. Stability in international relations will become a foreign concept from a bygone age – one that we did not fully appreciate until it was gone."
Dec 14th 2023
EXTRACT: "Yet one must never forget that Putin is first and foremost an intelligence officer whose dominant trait is suspicion."
Dec 2nd 2023
EXTRACTS: "In a recent commentary for the Financial Times, Martin Wolf trots out the specter of a 'public-debt disaster,' that recurrent staple of bond-market chatter. The essence of his argument is that since debt-to-GDP ratios are high, and eminent authorities are alarmed, 'fiscal crises' in the form of debt defaults or inflation “loom. And that means something must be done.' ----- "If, as Wolf fears, 'real interest rates might be permanently higher than they used to be,' the culprit is monetary policy, and the real risk is not rich-country public-debt defaults or inflation. It is recession, bankruptcies, and unemployment, along with inflation." ---- "Wolf surely knows that the proper remedy is for rich-country central banks to bring interest rates back down. Yet he doesn’t want to say it. He seems to be caught up, possibly against his better judgment, in bond vigilantes’ evergreen campaign against the remnants of the welfare state."
Nov 27th 2023
EXTRACT: "The first Russia, comprising those living in Russia’s two biggest cities, Moscow and Saint Petersburg, can pretend there is no war at all." ---- "Then there is the other Russia, the one you find in small towns and villages scattered across the country’s massive territory. Here, the Ukraine war is a source of patriotic pride,"