Summers now seems to have retreated from his “secular stagnation” thesis, and is now suggesting that raising demand will employ more people. Amazing. But that’s no more than Keynes said about 70 years ago.
I’m waiting with baited breath for Summers’s next pearl of wisdom. Perhaps he’ll announce that water is wet, or that grass is green. Let’s see.
H/t to Mike Norman.
I must remember talk self-contradictory bullshit in future: obviously that’s the way to fame, fortune, academic preferment, and getting articles published in the FT.