The article was pretty good as far as it went. What a shocking is that Delong, who is a Keynesian, limited his tricks to monetary policy. Nor did he ever suggest the problems that have been building up over the years. His "long and veritable lags" again were limited only to monetary policy. Finally, Brad never mentioned that the conservatives know what to do if a recession is on the horizon: cut taxes for the rich. Here, the bag may really be almost empty, since there aren't that many tax cuts for the rich left to do.
-- Michael Perelman Economics Department California State University Chico, CA 95929 Tel. 530-898-5321 E-Mail michael at ecst.csuchico.edu
