Wednesday, May 25, 2016

Larry Summers as Bad as Paul Krugman

But at least admits it, in WaPo:
 I cautioned that while 2009 could have seen a repeat of 1929-1933 and that did not happen, there are no grounds for complacency. 

Krugman has still not apologized for this 2012 embarrassment:

As for Summers, although I doubt he will admit this, he now sounds like the reckless Donald Trump:
  The decline in U.S. infrastructure investment is indefensible in light of recent declines in interest rates, employment opportunities and materials costs.


  1. If fed cam create booms, why not the fiscal/.gov give it a try as well. May be they can alternate, and we won't have busts.

    1. How do you propose creating booms without busts? And why does the outcome depend on who is doing it? Does the boom bust cycle spin the other way south of the equator?