Since I had been critical of elite economists for using their authority rather than evidence to trash Gerald Friedman’s analysis of Bernie Sanders’ program, I should acknowledge a serious effort to do exactly the sort of analysis I advocated. Christina Romer, one of the four former heads of the Council of Economic Advisers who signed the earlier letter criticizing Friedman’s analysis, along with David Romer (both of whom are now Berkeley economics professors), did a detailed critique of the Friedman analysis.Beat the Press
I could quibble with aspects of their critique, but I would say it is basically right.…
Romer and Romer Do the Numbers on Friedman-Sanders
Dean Baker | Co-director of the Center for Economic and Policy Research in Washington, D.C
Who cares about numbers? Numbers are irrelevant to a sovereign government.
ReplyDeleteExactly. Larry Kudlow has a piece up on realclearpolitics.com that gets to the heart of the issue:
ReplyDelete"Two-Percent Growth Is a Loser for the Angry Middle Class”
http://www.realclearpolitics.com/articles/2016/02/27/two-percent_growth_is_a_loser_for_the_angry_middle_class_129809.html
MRW careful with Kudlow...
ReplyDeleteHis solution is probably more free trade and less regulation and smaller government yada yada...
Yeah, I know. I was just posting this because he’s singing a different song. Or, it appears to be.
ReplyDelete