John Berry thinks--along with everybody else--that Republicans are following an old playbook: oppose everything a Democratic president does in the hope of convincing voters that he is in some sense a failure, and then ride opposition to him to congressional majorities. Newt Gingrich did this in 1993...

The speech is here Romer: Of course, one can also debate the baseline and the question of whether creating or saving 3 to 4 million jobs will be enough to fully heal the economy. But it is important to acknowledge that creating or saving that many jobs would be a tremendous accomplishment... I think...

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Why neoclassical economics is an absolutely wonderful thing: Exhibit 1: David Harvey: Reading Marx’s Capital with David Harvey: Why the U.S. Stimulus Package is Bound To Fail: A Financial Katrina - Remarks on the Crisis: Much is to be gained by viewing the contemporary crisis as a surface erup...

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 ...

Paul Krugman says that there is reason to fear that two years from now we will be in deflation: About that deflation risk - Paul Krugman Blog - NYTimes.com: Larry Summers has finally made the point I’ve been pushing for a while — that we’re at major risk of falling into a deflation...

Shame on every single Republican House member for their root-and-branch opposition to a fiscal boost. Shame on the root-and-branch opposition to a fiscal boost by Republican Senators Alexander, Barrasso, Bennett, Bond, Brownback, Bunning, Burr, Chambliss, Coburn, Cochran, Corker, Cornyn, Crapo, DeMi...

Niall Ferguson reaches what I regard as the right conclusion even though I think his premises and the logic of his argument are faulty. It is a mystery: Keynes can't help us now: I heard almost no criticism of the $819-billion stimulus package making its way through Congress. The general assumption ...

David Beckworth asks a question: Macro and Other Market Musings: The Latest Installment in the New Deal Debate: Harold Cole and Lee Ohanian... move beyond the unemployment numbers discussion and present data on hours worked, consumption per capita, and nonresidential investment.... [T]he New Deal di...

Paul Krugman writes: Romer and Bernstein on stimulus - Paul Krugman Blog - NYTimes.com: Christina Romer and Jared Bernstein have put out the official (?) Obama estimates of... the... American Recovery and Reinvestment Plan would accomplish.... Kudos, by the way, to the administration-in-waiting for ...