Tuesday, July 6, 2010

Op-Ed Columnist - A Little Economic Realism - NYTimes.com

(c) 2010 F. Bruce Abel

David Brooks weighs in on the opposite side of Paul Krugman.  Keynes 1; Friedman 1.

This is important and importantly bad.  1930's here we come.

But his logic about corporate enterpreneurs is flawless.

Op-Ed Columnist - A Little Economic Realism - NYTimes.com: "You can’t read models, but you do talk to entrepreneurs in Racine and Yakima. Higher deficits will make them more insecure and more risk-averse, not less. They’re afraid of a fiscal crisis. They’re afraid of future tax increases. They don’t believe government-stimulated growth is real and lasting. Maybe they are wrong to feel this way, but they do. And they are the ones who invest and hire, not the theorists."