Monday, February 29, 2016

James Galbraith — The Friedman v. Romers Growth Debate on the Sanders Plan – A Summing Up

Here is a brief summary of the state-of-debate over the Sanders economic program and the growth projections made by Professor Gerald Friedman.

Major points

1) The growth projections have no bearing on the desirability of Sanders’ program, which consists of major structural reforms in health care, education, and public investment, in public governance and in the distribution of the tax burden.
2) The original mudslinging by four past Chairs of the Council of Economic Advisers was based on nothing, except that Friedman’s growth numbers looked high. No analysis preceded that claim.…
Naked Capitalism
James Galbraith: The Friedman v. Romers Growth Debate on the Sanders Plan – A Summing Up
James K. Galbraith, Professor of Government/Business Relations at the Lyndon B. Johnson School of Public Affairs, the University of Texas at Austin. His most recent books are Inequality and Instability and The End of Normal

1 comment:

Dan Lynch said...

Wake me up if the economists stop evaluating the evaluaters and instead start asking why Bernie wants to increase regressive taxes on the working class and suck money out of the economy.

The way the poll numbers are trending Bernie will soon be irrelevant.