Posted by: Sommer Saadi on July 14, 2011
Bloomberg View is brand spankin’ new but carries with it the combined wisdom of David Shipley, James Rubin and Company. They just had their first great economic moment.
John Taylor and Brad Delong engage and we benefit.
Here Taylor requests courage to do nothing and is suspect of our ability to succeed with policy even if we get the prescription right. He follows his BV essay with a killer post Economics One chart that describes the thundering 2011, 1982 difference.
Brad DeLong disagrees here. Do something now and we do have the body of theory to have confidence to be less timid. Politics is jobs and no job growth is fear and fear is sweat. Sweat needs a theory to fall back upon and that theory is John Hicks.
You may side with Taylor, Delong, Ethan Harris or Mark Blaug. What I know is we need a vigorous smart economic and better informed political debate…now.
Start with Bloomberg View. Start with Taylor and Delong throwing javelins into the SFO flightpath. Start with Ethan Harris canceling lunch to do Surveillance Midday. Start with Blaug’s seminal Methodology of Economics. Start with John Hicks. Discuss.