What I would add to his fine review is wherever Professor Davidson indicates ‘increased government spending’ I would add ‘and/or tax cuts depending one’s politics.
Published in the Summer 2010 issue of the JOURNAL OF POST KEYNESIAN ECONOMICS by Paul Davidson:
Making Dollars And Sense Of The United States Government Debt
On Sun, Nov 15, 2009 at 10:47 AM, Davidson, Paul wrote:
I agree with Warren on his entire argument except for one point. He calls these New Keynesians and neoclassical people “relatively intelligent”. Ha! As an academic who has been challenging their assumptions for more than 35 years, I reject the idea that they are relatively intelligent!!
Paul
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