Liveblogging World War II: January 27, 1942
The Volcker Disinflation and the Volcker Recovery Were Both Primarily the Work of… Volcker: Macroeconomic History Things That Really Should Not Need to Be Said Department

Quote of the Day: January 27, 2012

"The most obvious damage is to his prose. Whenever Hobsbawm enters a politically sensitive zone, he retreats into hooded, wooden language, redolent of Party-speak. “The possibility of dictatorship,” he writes in The Age of Extremes, “is implicit in any regime based in a single, irremovable party.” The “possibility”? “Implicit”? As Rosa Luxemburg could have told him, a single irremovable party is a dictatorship. Describing the Comintern’s requirement in 1932 that German Communists fight the Socialists and ignore the Nazis, Hobsbawm in his memoirs writes that “it is now generally accepted that the policy . . . was one of suicidal idiocy.” Now? Everyone thought it criminally stupid at the time and has thought so ever since—everyone, that is, except the Communists."

--Tony Judt: Reappraisals: Reflections on the Forgotten Twentieth Century