Titolo

The debate with Bradford De Long

1 commento (espandi tutti)

I think you're being too hard on yourself. The debate went pretty well, even within the confines DeLong wanted to put it. He wanted to make it only a discussion about the effects of the stimulus bill, and I believe your "band-aid on the butt" metaphor (ironically, after your dismissing the use of metaphors) is going to stick in the audience's mind for a while. 

Unless I missed it (I haven't listened to all the Q&A part) what deserved a reply was DeLong's repeated claim that "governement spending is as good as anyone else", in reference to specific times in history when people found it convenient to spend/invest in specific sectors and unemployment therefore went down. I thought the statement was completely bogus. 

On a side note, accepting your point that we should focus on the financial crisis, the compelling question is: why are we having these debate on the stimulus? Where are the microeconomists debating on how to restructure the financial sector?