He misses two important threads. Had John McCain won last November, very few of the New Deal denialists would be out in public--instead, the Republican legislators and their tame intellectuals would be enthusiastially rallying behind McCain's tax cut-based Keynesian fiscal stimulus package right now...

Part of my continuing attempt to think through the Decline of the Chicago School--here I try to argue that Milton Friedman tried too hard to sell a stable nominal money growth rule as a laissez-faire policy, and thus undermined the ability of his students' students to actually say anything coherent ...

TPMCafe | Talking Points Memo | What Is Non-Depression Economics?: This discussion has so far one major lack: it does not tell us what "depression economics" is supposed to replace--it does not tell us what non-depression economics is, or was. So let me try my hand at a definition of non-depression ...

Some time ago Ezra Klein asked why we economist types were so happy--well, why all we economist types except those of us with offices on the same hall who will miss her company and must teach her and her husband's courses in the spring--at Barack Obama's decision to choose Great Depression and monet...

Paul Krugman notes that we now have an ongoing test of Keynes-Bernanke vs. Friedman-Schwartz accounts of the Great Depression: Paul Krugman: Has anyone else noticed that the current crisis sheds light on one of the great controversies of economic history? A central theme of Keynes’s General Th...

Apropos of Krugman's evisceration of the underbriefed George F. Will http://delong.typepad.com/sdj/2008/11/what-a-change-t.html: I have never been able to make any sense at all of the right-wing claim that the New Deal prolonged the Great Depression by creating a "crisis of confidence" that crippled...