On Jul 18, 2010, at 3:52 PM, raghu wrote:
...Galbraith wishes Krugman would stop even mentioning remote
theoretical
possibilities of deficit-related problems because it provides fuel to
fear-mongers.
I am with Krugman on this; nuance is a valuable tool *against* fear-
mongering...
Fear mongers, and their deluded audience, are totally immune to
"nuance." What they will pick up on is that they can cite Krugman to
the effect that Galbraith is ignorant of basic economics. So it is
Krugman who is totally off base, especially since he does not even
mention Galbraith's central point--that the Simpson-Bowles "Deficit
Reduction Commission" is a totally mischievous device to promote
Peterson's campaign to eviscerate Social Security and Medicare, whose
only possible positive contribution would be to reduce the present
deficit by promptly voting itself out of existence.
Shane Mage
"All things are an equal exchange for fire and fire for all things,
as goods are for gold and gold for goods."
Herakleitos of Ephesos, fr, 90
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