Commentaries (some of them cheeky or provocative) on economic topics by Ralph Musgrave. This site is dedicated to Abba Lerner. I disagree with several claims made by Lerner, and made by his intellectual descendants, that is advocates of Modern Monetary Theory (MMT). But I regard MMT on balance as being a breath of fresh air for economics.
Tuesday, 23 November 2010
Republicans love the recession.
It’s been obvious for some time that the Repugnant Party does not want to provide work for the unemployed. But it’s nice to see a senior member of the party admit as much.
As Senate Minority Leader Mitch McConnell put it, if getting rid of Obama “means doing nothing to help 15 million Americans searching for work who can't find it, too bad.” (Source: Fiscal Times.)
Afterthought (1st Dec): One particularly strident opponent of stimulus and advocate of austerity is Thomans Friedman. Though his qualilfications for playing this role are somewhat diminished by the fact that he lives in an 11,000 square foot house worth about $9million. Worse still, it’s not as if he acquired this palacial abode thanks to his own talents: he married into one of the 100 richest families in the U.S.: the Bucksbaums.
It makes Marie Antoinette and her “let them eat cake” remark look like a socialist.
I got the above information on Friedman from Dean Baker.
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