There's kind of a weird double-think involved in arguments that the slump should be allowed to follow its natural course. It's true that classical economics says that we should let market forces do their work; but classical economics also says that severe recessions can't happen. This idea that we must not intervene is based on a worldview that is refuted by the very fact that the economy is in the mess it's in.
--Paul Krugman
Between a Crock & A Weird Place
-
This post was too long, so I cut in half and will publish part one today.
I just finished a One Cosmos-like effort at a Total Explanation, called The
Rhy...
8 hours ago
No comments:
Post a Comment