"WE LIVE LIKE GODS, and we don’t even know it." "And yet we are not happy, we expected more, we were promised better." Telling ourselves we are spoiled is an unreliable way to make friends, but we are spoiled. "Progressive economists, led by Paul Krugman, have argued persuasively that what the world economy needs now is government deficit spending to put money in workers’ wallets, to stimulate consumption, to give the private sector a reason to invest and expand." Does deficit spending ever end or does the rationale change as circumstances change? I would feel differently about the Keynesian approach if it were advocated as designed. Deficits in challenging times, surpluses when things are good. It never seems to be. As advocated, rather than as designed, this results in Detroit. lareviewofbooks.org/article.php?type=&id=1845&fulltext=1&src=longreads
Posted on: Mon, 22 Jul 2013 13:52:28 +0000
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