Here is the link to Jared Bernstein's post, which links to the others: http://jaredbernsteinblog.com/full-employment-trade-deficits-and-the-savings-glut-a-fascinating-debate-in-the-macro-blogosphere/
And these big names are the best of a bad lot. On Fri, Apr 3, 2015 at 12:28 PM, Eugene Coyle <[email protected]> wrote: > > On Apr 2, 2015, at 12:00 PM, Tom Walker wrote: > > > > > > > ------------------------------ > > > > Message: 6 > > Date: Thu, 2 Apr 2015 07:39:08 -0700 > > From: Tom Walker <[email protected]> > > Subject: [Pen-l] Economists discover the world! > > To: PEN-L list <[email protected]> > > Message-ID: > > <CANz+BQzB5W45S+Ek+7xQJVh=jN9= > [email protected]> > > Content-Type: text/plain; charset="utf-8" > > > > There is a buzz on the econoblogosphere about the debate about secular > > stagnation between Ben Bernanke, Larry Summers and Paul Krugman. Jared > > Bernstein breathlessly sums up the excitement: "we've made important > > diagnostic progress here by bringing the international dimension... into > > the discussion." > > > > You mean to tell me that up to now economists have left out the > > international dimension? > > > > -- > > Cheers, > > > > Tom Walker (Sandwichman) > > -------------- next part -------------- > > An HTML attachment was scrubbed... > > URL: > http://lists.csuchico.edu/pipermail/pen-l/attachments/20150402/1f72af9e/attachment-0001.html > > > > ------------------------------ > > > > I looked for the buzz and didn't find the specific items Tom Walker refers > to, but I did find some exchanges about the diagnosis of secular stagnation > by the buzzers. (buzzards?) > > I was struck by how obvious it is that they all have an underlying > foundation of existing full employment as they analyze the economy. It is > all about adjusting the equilibrium from one spot to another, whether it is > where the demand for money curve crosses the supply of money curve and/or > where the demand for anything shifts from Europe to Asia or North America. > It is all equilibrium, all the time. > > And these are the big name economists, utterly baffled by what's going > on. They differ only in the need for stimulus vs the need for liquidity. > Or in one case, the need to do nothing. > > Gene > > > _______________________________________________ > pen-l mailing list > [email protected] > https://lists.csuchico.edu/mailman/listinfo/pen-l > -- Cheers, Tom Walker (Sandwichman)
_______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
