The Flip Side of Flip-Flopping

Benjamin Radford, LiveScience's Bad Science Columnist,

LiveScience.com

The economy has brought the dire state of the American

financial markets into the public's consciousness with sharp focus -- along with the presidential candidates'

positions on the issue.

When insurance megacorporation AIG requested $85

million in taxpayer bailouts, John McCain stood firmly

against it, saying "We cannot have the taxpayers bail out

AIG or anyone else." For nearly three decades, Senator

McCain has been loudly and proudly against market

regulation; as he told the "Wall Street Journal" in March,

"I'm always for less regulation."

Yet the federal government did bail out AIG, and within

days McCain changed his position, defending not only the

Wall Street bailout but also calling for more market

regulation to prevent future collapses. This seems like a

prudent, if painful position. But was that an infamous "flip-

flop," in political speak?

Politicians have made a pastime of calling each other

"flip-floppers." Senator John Kerry, during his presidential

bid, was widely ridiculed as a flip-flopper for his infamous

statement, "I actually did vote for the $87 billion [troop

funding bill] before I voted against it."

Such zingers make for memorable political theater and

pop culture sound bites, but gloss over a fair question:

What's wrong with changing your mind?

Americans want to know where candidates stand on

issues; they want a decisive leader who sticks by his or

her convictions. That's all well and good, but where's the

flexibility? Do we really want leaders whose positions on

important issues are engraved in stone, facts be

damned?

Obviously no one wants a president whose opinions and

policies change with the wind, but the political and

economic world is constantly changing. Policies and

positions that work well at one time, under one set of 

circumstances, might be misguided or even devastating

later on. Intelligent people can and do change their minds

as circumstances and facts change. Perhaps the most

important quality the president can have is good

judgment, and that requires a mind open to alternatives.

As Ralph Waldo Emerson wrote, "A foolish consistency is

the hobgoblin of little minds, adored by little statesmen

and philosophers and divines."

In the case of market regulation, there is certainly reason

to reconsider the long-standing deregulation policies that

helped create the economic crisis. While McCain said

that the "fundamentals of the economy are strong,"

Treasury Secretary Henry Paulson declared that the U.S.

economy was within days of a "meltdown."

Is McCain's sudden support of market regulation a flip-

flop, a convenient political stunt to court voters, or does

he really believe he's been wrong on the issue for the last

quarter-century? It's not clear, but in any case no one

should be criticized for coming to the truth, however

belatedly. Ultimately, of course, flip-flopping is in the eye

of the beholder (or spin doctor); while I have "advisors,"

my opponent has "cronies" I change my mind after

"considered judgment," but he "flip-flops."

Candidates should be able to actually be candid and say,

"I was wrong and I changed my mind." Wouldn't that be

refreshing?

·           The Long History of the 2008 Financial Mess 

·           Political Flip-Flops: From Lies to Legitimate Change 

·           One Thing We Know: Flip-Flops Bad For Feet 

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