Monday, April 25, 2016

Brad DeLong — A Methodological-Moral Struggle Over the Sanders Economic-Policy Proposals


Turning up the heat.

Grasping Reality
A Methodological-Moral Struggle Over the Sanders Economic-Policy ProposalsBrad DeLong | Professor of Economics, UCAL Berkeley

7 comments:

mmcosker said...

Why is the balance of trade not considered. A budget deficit and trade deficit each at -3% of gdp is fiscal neutrality. The budget deficit needs to exceed the balance of trade to be stimulative IMO. Another Key is to spend money on projects that cannot import - like infrastructure. Labor and cement tend to be local. I know itbis more complex that that, but....

Dan Lynch said...

It's not clear what DeLong is saying -- he quotes so many different economists and it's not clear whether he is agreeing with them or disagreeing with them. But it sounds like DeLong buys into supply-side limitations?

Politically, it's a moot point because the die was cast when Bernie lost New York. It's over unless Hillary dies in the next few months. Bernie-nomics is not going to happen. Why are we still talking about Bernie?

Matt Franko said...

"Why is the balance of trade not considered. A budget deficit and trade deficit each at -3% of gdp is fiscal neutrality."

Mac that is basically where we are for like 2 or 3 years now.... only foreign savings of USDs... seems to be mostly Chinese accumulating/skimming all that they can and bugging out of that hell hole to US and Australia...

Matt Franko said...

Mac,

From that perspective, bernie's plan to tax domestic entities to "balance the budget" while ignoring the foreign sector savings is domestic economic suicide... and not even close to being in paradigm... who the hell is advising him????

Matt Franko said...

Oh, almost forgot, if you ever talk about the foreign sector, the MMT top end lefties automatically think that is the "xenophobia!" going on there ... so you cant talk about the foreign sector... never mind....

Simsalablunder said...

"Oh, almost forgot…"

You almost forgot continuing making things up? I don't think so.

Bob said...

Talk about beating a dead horse...