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Politics : View from the Center and Left

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To: JohnM who wrote (188430)	5/6/2012 6:34:27 PM
From: Dale Baker	Read Replies (2) of 541791

It bugs me because the program that is politically impossible to achieve is also based on the unproven assumptions of a small clique of economists, a very iffy field to begin with in terms of proven solutions. Whenever I see people taking multiple degrees of uncertainty and pronouncing them a pat solution, it bugs me. When they do that to politically impossible proposals, it bugs me more, because then it looks like an exercise in smug self-serving "analysis". "Only we know what must be the perfect solution, of course, no one has ever seen it work and no one will ever try, but we KNOW it must be true, and we can look down our noses at anyone who disagrees." It's the flip side to the crude assumptions of Austrian economics. Maybe they're right, but you and I both know the solution will never be tested. And the one modern case where endless stimulus has been tried, Japan, has sunk down a rathole of sluggishness. The pure Keynesians have a long way to go to get to the pedestal they believe themselves to stand on.

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