Economics in the Age of Shouting . . .


Bill Keller wrote a compelling column in the November 28 New York Times. Here’s the gist:

“There really is a textbook way to fix our current mess. Short-term stimulus works to help an economy recover from a recession. Some kinds of stimulus pay off more quickly than others. Once the economic heart is pumping again, we need to get our deficits under control. The way to do that is a balance of spending cuts, increased tax revenues and entitlement reforms. There is room to argue about the proportions and the timing, but the basic formula is not only common sense, it is mainstream economic science, tested many times in the real world.”

His question: “So what’s the problem? Why is our system so fundamentally stuck?”

To read his answer, click on column.

*Thanks to Jim Morin, my favorite editorial cartoonist.

2 responses »

  1. Norma my good friend
    Am I really the first to say that I like the post and am I really the first to leave a comment? I will read the column (thanks for making it so easy!!) but first I want to say to you personally that this posting is a wondrous surprise to me, so much so that even though I have loved, really loved all of your travelling/book signing/family and bornandraised community postings, I have avoided making a comment – a little shy, wondering where its going, who will read it etc….this one has got me going. It is so hard to know what to do and who to ask and who to believe in times like these. Thank you for being the you who starts my ball rolling. And thank you for your transparent courage. That’s what moved me in the end.
    Can’t wait till you’re home and we can visit and mull this over, and start a revolution (like in the old days).


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