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bloomberg.com - 11/20/2008

Obama Will Take Us Backward By Channeling Keynes: Amity Shlaes

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Commentary by Amity Shlaes Nov. 19 (Bloomberg) -- Every crisis has its heroes. For months now we've all been hearing about Walter Bagehot , whose 19th-century injunction to lend ``freely'' in a panic was cited by the Federal Reserve in its bailouts. Now another Englishman, John Maynard Keynes , ...

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Hullabaloo — Amity Village Horror by digby I was going to write about this, but I see that the shrill one is there before me --- and carrying a whole lot more credibility than I have in such matters): When you hear claims that the New Deal made the depression worse, they often come directly or indirectly from the work of Amity Shlaes, whose misleading statistics have been widely disseminated on the right. Now, Ms. Shlaes has found a new target: John Maynard Keynes. There’s a lot to critique in this piece, but this one takes the cake: But the most telling fact about the new rush to spend is that ...

Unstimulating
RedState: Conservative News and Community — Let's turn the microphone over to Amity Shlaes, who discusses Obamaian plans for an economic stimulus by bringing up the inconvenient facts about the stimulus plan passed earlier this year: The limits start showing up with the tiniest of stimuli, those government checks Americans received in the mail last spring. The idea was that having the cash would cheer up consumers so that they would start shopping again, helping retailers. That in turn would revive wholesalers, shippers, suppliers -- on up the production line. But that stimulus failed, as the University of Michigan's Joel Slemrod and Matthew Shapiro noted. Interviews with ...

Unstimulating
A Chequer-Board of Nights and Days — Let's turn the microphone over to Amity Shlaes , who discusses Obamaian plans for an economic stimulus by bringing up the inconvenient facts about the stimulus plan passed earlier this year: The limits start showing up with the tiniest of stimuli, those government checks Americans received in the mail last spring. The idea was that having the cash would cheer up consumers so that they would start shopping again, helping retailers. That in turn would revive wholesalers, shippers, suppliers -- on up the production line. But that stimulus failed, as the University of Michigan's Joel Slemrod and Matthew Shapiro noted. Interviews with consumers showed that only a fifth said ...

A Neo-Hooverite Fantasy Explored
Open Left - Front Page — ... "Obama Will Take Us Backward By Channeling Keynes" was a Bloomberg commentary piece that ran on Nov. 19.  Not only does Shlaes slam Keynes, that's the easy part.  She actually attacks the interstate highway system, and equates it to the "Bridge To Nowhere"! ...