NP but robots and robber barons

[C. F. Abel]

Here, Here.

 

C. F. Abel

Department of Government

Stephen F. Austin State University

 

"Only superficial people don't judge by appearances."

 
-- Wilde

 

From: owner-pynchon-l at waste.org [mailto:owner-pynchon-l at waste.org] On Behalf
Of David Morris
Sent: Tuesday, December 11, 2012 8:08 AM
To: alice wellintown
Cc: pynchon -l
Subject: Re: NP but robots and robber barons

 


You are full of beans.

 

Krug has been saying all along that the central problem with the economy is
lack of Demand, a product of unemployment.  FINALLY Ben B has come around to
facing joblessness instead of inflation fear.  Unemployment is very SLOWLY
coming down.  Everyone now knows that Obama's Stimulus Package was much too
small, partly because nobody knew how really bad the Recession was.  We need
more stimulus, as Krug has been saying all along.  Thank God the US has a
Democratic President.  And Europe will continue to be in a shithole as long
as they keep up homage to Austerity.

 

David Morris

On Tue, Dec 11, 2012 at 4:47 AM, alice wellintown
<alicewellintown at gmail.com> wrote


>>Krug doesn't know what the problem is, but he is fixated on the normative
or political economic solutions to what he claims, in his remarkable book,
is a trend of deminishing expectations; he proposes faster growth, easy
money, a focus on employment and improved income equality, all what Ben has
been working on, taking on extraordinary risks, but Krug ignores the
cmplexities of regulations, one area where the Europeans, who have recently
brought in a Canadian, and are slowly merging these giant and complex roles
of central banks. Krug makes it all seem so easy, just lock up the robbers
and promote labor, but these are nothing more than interesting provocations,
and so, Krug has reduced himself to a journalist with a Nobel in Economics.

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