Monday, November 8, 2010
RE KRUGMAN'S DOING IT AGAIN
He has the best advice, from an economist, but our status now does not seem open to mere Keynsian efforts like those begun shortly before WW II.
Additionally, I would point out that Bernanke's speech 8 years ago re Friedman's claim perpetuates a false account both of the causes and 'cure' for the Depression, and of the role and capacity of the 1920s Fed, or the 2010s Fed.
Many other causes played into the Depression, causes not directly susceptible to mere Fed manipulation, even back then. It's a long list.
Similarly, but perhaps more so, today.
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