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Larry Summers versus the Stimulus
- shams93 6y agoMany lost 100k or more of income but Larry is concerned about 1400 overheating the economy? How is extra help preventing people from getting jobs when 80% of jobs are eliminated? I think the way we collect these stats is incredibly broken the chasm between Summers brain and the reality on the ground is absolutely enormous.
- melling 6y agoThere’s a lot more in the stimulus than checks for people. Anyway, it would help if people left their emotions out of the conversations and attempted to learn and discuss the benefits. Economics is a field where no two economists agree on much.
- ratsmack 6y agoI believe only 9% of the $1.9T stimulus is for individuals. The rest is for a multitude of projects and bailouts. Edit: Actually, it's 9% for covid healthcare and 21% for $1400 checks to individuals, which would mean 70% goes for the projects and bailouts.
- nabla9 6y ago> Economics is a field where no two economists agree on much This is a myth. Here is short list from Mankiw https://gregmankiw.blogspot.com/2009/02/news-flash-economists-agree.html https://gregmankiw.blogspot.com/2009/02/news-flash-economist... When economists agree on something, it is rarely discussed in economics. You just read it from the textbook. This may skew the perception.
- Gibbon1 6y agoI got to say I'm rather tired of boomer economists and their hysterical obsession with wage and price inflation. Reading them go on and on about how we can't have nice things because inflation reminds me of Ada Doom. https://www.youtube.com/watch?v=UYd9I5i1_Ps https://www.youtube.com/watch?v=UYd9I5i1_Ps Also reasonable piece on why no one should listen to Larry Summers. https://www.thenation.com/article/economy/larry-summers-stimulus-neoliberalism/ https://www.thenation.com/article/economy/larry-summers-stim...