Political Science and the Savings and Loan Crisis

Extract

The juxtaposition of “political science” with the “savings and loan crisis” is interesting in part because it appears a peculiar pairing. What does, or should, political science as an academic discipline have to do with the current crisis in the savings and loan industry? A case can be made, and indeed is arguably the present dominant view within the discipline, that political scientists ought not to seek to be involved in any systematic way with public sector management problems or with governance generally. Following this reasoning, political science ought not to be interested in the savings and loan crisis other than, possibly, to study it after the fact as a political phenomenon.

There are other political scientists, however, who are uneasy with this passive view of the discipline. They have seen the emergence of a massive institutional crisis in the financial system of the nation and no one has thought to seek their advice and counsel towards a solution to the crisis except for them to participate as taxpayers in picking up the bill. But of even greater concern to many of the thoughtful in these ranks is the realization that if someone were to call upon the discipline for advice and assistance, the discipline might have little to contribute. Few of the leaders in our discipline have expertise in the management of complex fields. Indeed, it is unusual today to find political scientists with any experience at all in governmental institutions or affairs. The estrangement between political science and the governance process of the Republic appears nearly complete.