Niall Ferguson's Absurd Critique of Obama in One Chart

A blog about business and economics.
Aug. 19 2012 8:53 PM

Niall Ferguson's Absurd Critique of The Obama Administration in One Chart

1345423985981

Niall Ferguson, the once-distinguished economic historian turned crank political pundit has a big attention-grabbing piece in Newsweek offering a comprehensive takedown of Barack Obama and his tenure in office. Indeed, it's so comprehensive as to be completely incoherent. Noah Smith notes, for example, that it's odd to simultaneously deride fiscal stimulus while asserting that the looming "fiscal cliff" will deal a terrible blow to the American economy. But really the chart above tells you all that you need to about the ridiculous kitchen sink quality of the argument.

Ferguson is implicitly making two points with this graphic and it's difficult to know which of them is more absurd—the idea that Obama is responsible for rapid economic growth in China or the idea that if he were responsible that would be blameworthy.

Matthew Yglesias is the executive editor of Vox and author of The Rent Is Too Damn High.

TODAY IN SLATE

History

The Self-Made Man

The story of America’s most pliable, pernicious, irrepressible myth.

Does Your Child Have Sluggish Cognitive Tempo? Or Is That Just a Disorder Made Up to Scare You?

Mitt Romney May Be Weighing a 2016 Run. That Would Be a Big Mistake.

Amazing Photos From Hong Kong’s Umbrella Revolution

Rehtaeh Parsons Was the Most Famous Victim in Canada. Now, Journalists Can’t Even Say Her Name.

Television

See Me

Transparent is the fall’s only great new show.

Doublex

Lena Dunham, the Book

More shtick than honesty in Not That Kind of Girl.

What a Juicy New Book About Diane Sawyer and Katie Couric Fails to Tell Us About the TV News Business

Rehtaeh Parsons Was the Most Famous Victim in Canada. Now, Journalists Can’t Even Say Her Name.

  News & Politics
Damned Spot
Sept. 30 2014 9:00 AM Now Stare. Don’t Stop. The perfect political wife’s loving gaze in campaign ads.
  Business
Moneybox
Sept. 30 2014 11:25 AM Naomi Klein Is Wrong Multinational corporations are doing more than governments to halt climate change.
  Life
Atlas Obscura
Sept. 30 2014 10:10 AM A Lovable Murderer and Heroic Villain: The Story of Australia's Most Iconic Outlaw
  Double X
Doublex
Sept. 29 2014 11:43 PM Lena Dunham, the Book More shtick than honesty in Not That Kind of Girl.
  Slate Plus
Slate Picks
Sept. 30 2014 11:42 AM Listen to Our September Music Roundup Hot tracks from a cooler month, exclusively for Slate Plus members.
  Arts
Brow Beat
Sept. 30 2014 11:38 AM Tim & Eric Brought Their Twisted Minds—and Jeff Goldblum—to This Bizarre Light Bulb Ad
  Technology
Future Tense
Sept. 30 2014 7:36 AM Almost Humane What sci-fi can teach us about our treatment of prisoners of war.
  Health & Science
Bad Astronomy
Sept. 30 2014 7:30 AM What Lurks Beneath the Methane Lakes of Titan?
  Sports
Sports Nut
Sept. 28 2014 8:30 PM NFL Players Die Young. Or Maybe They Live Long Lives. Why it’s so hard to pin down the effects of football on players’ lives.