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Calculated Risk: NY Times Leonhardt: The Optimistic View
Paul Krugman: I'm not sure what the moral of this is, but ...
The Daily Dish | By Andrew Sullivan: Stronger Than We Appear?
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NYT Leonhardt: maybe too pessimistic re economy http://tinyurl.com/yho55ze Calculated Risk blogger McBride rebuts http://tinyurl.com/yf7scot 11/4/2009 |
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Through a Glass Less Darkly: By DAVID LEONHARDT In the fall of 1982, with a long recession ending but the unemp.. http://bit.ly/1Ol2XX 11/4/2009 |
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Through a Glass Less Darkly: By DAVID LEONHARDT In the fall of 1982, with a long recession ending but the unemp.. http://bit.ly/2Pfyj4 11/4/2009 |
NY Times Leonhardt: The Optimistic View
Calculated Risk —
David Leonhardt at the NY Times gives "equal time" to a more optimistic outlook: Through a Glass Less Darkly In the fall of 1982, with a long recession ending but the unemployment rate heading toward 10 percent, The New York Times ran an article titled “The Recovery That Won’t Start.” It quoted prominent economists who worried that “the recovery may amount to nothing more than a few quarters of paltry growth — and possibly not even that.” The economists, the article noted, had “growing doubts about whether the mechanisms of economic recovery will — or can — ...
I'm not sure what the moral of this is, but ...
Paul Krugman —
David Leohnardt unearths a Times article from 1982 that warned that we might never have a decent recovery. OK, although I’m with Calculated Risk : we’re really in a liquidity trap now, which means that it’s much harder for the Fed to turn things around. But while looking back at that old Times article, my memory was jogging me, and sure enough I found an article from earlier in 1982 titled “ A scenario for a depression ,” which warned that we might indeed find ourselves in a liquidity trap and with no way out. But that’s not what’s interesting; what’s ...
Stronger Than We Appear?
The Daily Dish | By Andrew Sullivan —
Leonhardt strikes an optimistic note: [I]t’s a good time to remember that when an economy is just coming out
of recession, its weaknesses are always more obvious than its potential
strengths. Free exchange interjects: As things stand, the medium-term outlook for the American economy
really isn't that bad. The problem is that the near-term outlook is
awful. And the question is: faced with perhaps another year or two of
unemployment near 10%, can the government avoid making any serious
economic mistakes, which might ...
On Predicting the Future
The New Republic blogs —
... -y here, but I love Dave Leonhardt's new column raising--if not quite endorsing--the possibility that current economic pessimism is overstated, and that another boom could be hiding around the corner. In particular I find this compelling: When Bill Clinton convened a conference in the dark economic days after his 1992 election, some of the country s top economists flew to Little Rock, Ark., to share their vision for the future. As Rahm Emanuel, now the White House chief of staff, likes to point out, they didn t spend much time talking about the Internet. They could not see ...
WPA Revisited: Should Government Create Jobs Directly?
The New Republic blogs —
... long-term unemployment, among persons not on work relief, was significantly lower in states with higher-than-average rates of employment growth. So what happens if we create a new WPA, employment growth resumes, and there are large numbers of WPA-type workers who don't want to give up their jobs? What makes our era different than the Great Depression is that we (hopefully) won't have a war-driven employment boom to help encourage people to leave public works jobs. You could argue, as David Leonhardt and ...
