Krugsandra on conservative straw men and the intellectual bankruptcy of the right:
What seems beyond their intellectual range is the notion that other people might have subtler beliefs than their own. Keynesianism, in particular, is not about chanting “big government good”. It’s about viewing recessions through the lens of an economic model under which temporary increases in government spending can, under certain circumstances, help reduce unemployment. Indeed, not all recessions call for fiscal stimulus; it’s the special conditions of the liquidity trap that make it essential now — which is why the Bush deficits, run under non-liquidity trap conditions, say nothing at all about the desirability of deficits now.
No comments:
Post a Comment