David H. Romer<http://blog-imfdirect.imf.org/2011/03/16/an-important-starting-point/>, the co-host of the IMF "Conference on Macro and Growth Policies in the Wake of the Crisis" had "one major source of unhappiness" with the conference:
Today, not only is unemployment higher than most 2008 forecasts of its peak levels, but the expected pace of recovery is weaker. Despite this deterioration, the dire sense of urgency in late 2008 has not increased. Indeed, it has largely disappeared. *I find this complacency in the fact of vast, preventable suffering and waste hard to understand.* The Sandwichman is shocked! Shocked to find that complacency is going on in here! ... Sandwichman doesn't find the complacency so hard to understand. The official dogma on unemployment is that doing something about it is futile, unnecessary and even *harmful*. Instead, the panacea of boosting business confidence (or "competitiveness") is always at hand. This is not so much complacency as a confidence game. The persistence of this scam is not at all hard to understand -- it is a lucrative swindle. What is more perplexing is why "the rest of us" fall for it over and over again. http://ecologicalheadstand.blogspot.com/2011/03/complacency-what-complacency.html -- Sandwichman
_______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
