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Bonus Quotations of the Day…
Posted By Don Boudreaux On September 10, 2012 @ 9:34 pm In Great Depression,State of Macro,Stimulus | Comments Disabled
… are, first, Alan Lockard’s letter in tomorrow’s (Sept. 11th’s) Wall Street Journal :
Alan Blinder argues in favor of policy consistent with the “Rooseveltian consensus” in the face of our current economic woes. Like FDR, President Obama inherited a nation in economic crisis. Let us not forget, however, that Roosevelt’s policies converted the crisis into a decade-long full-blown depression. Why anyone would seek to emulate that experience is beyond me.
and, second, George Leef’s letter in the same issue:
Gov. Romney is like a doctor who tells a terribly obese patient to slow down the increase of his caloric intake. Mr. Blinder is like a doctor who tells that same patient to eat even more to keep up his strength.
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