A quick note on David Brooks's column today. I have no idea what he's talking about when he says, The Demand Siders don't have a good explanation for the past two years Funny, I thought we had a perfectly good explanation: severe downturn in demand from the financial crisis, and a stimulus which we warned from the beginning wasn't nearly big enough. And as I've been trying to point out, events have strongly confirmed a demand-side view of the world.
A quick note on David Brooks's column today. I have no idea what he's talking about when he says,
The Demand Siders don't have a good explanation for the past two years
Funny, I thought we had a perfectly good explanation: severe downturn in demand from the financial crisis, and a stimulus which we warned from the beginning wasn't nearly big enough. And as I've been trying to point out, events have strongly confirmed a demand-side view of the world.
The moral I've taken from recent years isn't Be Humble -- it's Question Authority. And you should too.
"BN 11:58 *KRUGMAN: U.S SHOULD USE `EVERYTHING WE CAN' TO BOOST GDP, JOBS BN 11:58 *NOBEL LAUREATE KRUGMAN COMMENTS IN BLOOMBERG TV INTERVIEW BN 11:58 *KRUGMAN SAYS FED SHOULD HAVE 3%-4% INFLATION TARGET LONG TERM BN 11:58 *KRUGMAN SAYS U.S. GOVERNMENT NEEDS TO `GO OUT AND HIRE PEOPLE' BN 11:58 *KRUGMAN SAYS SECOND MAJOR STIMULUS PLAN PROBABY WON'T HAPPEN BN 11:58 *KRUGMAN SAYS U.S. ECONOMY MAY BE FACING A `VERY LONG SIEGE' BN 11:58 *PRINCETON'S KRUGMAN: `MARKETS HAVE BEEN FAIRLY CALM SO FAR' BN 11:58 *KRUGMAN SAYS FEDERAL RESERVE SHOULD DO MORE QUANTITATIVE EASING" source Diversity is the key to economic and political evolution.
you can't win against these idiots.
