Some prominent left-wing commentators have devoted weekly columns and blogs to the notion that Great Britain has misguidedly pursued harsh spending “austerity” and that doing so has left the country lingering in unnecessary anguish. In the opinion pages of The New York Times, Paul Krugman inveighs that: Britain, in particular, …
My Corner post from last Wednesday — pointing out that government “stimulus” spending does not add new purchasing power to the economy because the government must first borrow that purchasing power out of the economy — caused a stir among liberal bloggers Brad DeLong, Matt Yglesias and Stan Collender. Their posts …
U.C. Berkeley Economics professor Brad DeLong has made it his mission to label any economist who says anything bad about Barack Obama’s deficit spending plan as “ethics-free Republican hacks.” To this end he has compiled a list Republican former members of the President’s Council of Economic Advisers who have either …
