Alan Greenspan: It is Very Regrettable that My Model of the World Is Wrong--and the World Needs to Shape Up...
http://delong.typepad.com/sdj/2010/06/alan-greenspan-it-is-very-regrettable-that-my-model-of-the-world-is-wrong--and-the-world-needs-to-shape-up.html Paul Krugman via Brad DeLong: You know, some people might take the fact that what’s actually happening is exactly what people like me were saying would happen — namely, that deficits in the face of a liquidity trap don’t drive up interest rates and don’t cause inflation — lends credence to the Keynesian view. But no: Greenspan KNOWS that deficits do these terrible things, and finds it “regrettable” that they aren’t actually happening. The triumph of prejudices over the evidence is a wondrous thing to behold. Unfortunately, millions of workers will pay the price for that triumph. -raghu. _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
