Eugene David
...The One-Minute Pundit

Wednesday, January 07, 2009


Forbeslist.com scratches its head over a husband-and-wife economist team, the wife of whom will serve The One as head of the Council of Economic Advisers:

The Romers' research actually undercuts the Keynesian approach in a more fundamental way. They find that tax cuts to offset a recession are ineffective, but their reasoning would also apply to government spending increases to offset a recession. In other words, if she believes her own research, Christina Romer should be a strong critic of her new boss's policies.

In other words, economies may resist dogmas, regardless of what Gekko "Grasso" Kudlow and the Angry Nobelist Paul Krugman think.

Whose dogma will work best now?

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