Monday, September 17, 2012

Along with George Will, Robert Samuelson is a founding member of my Rogues Gallery.

Robert Samuelson Is Tired of Stimulus by Dean Baker

Commenters at various blogs - Dan Kervick, etc. - have been echoing conservative Samuelson about monetary policy for years now. Do they have some relatively prominent blogger who shares their views or no? Naked Capitalism?

Bernanke has said unconventional monetary policy has helped create (or save?) 2 million jobs. That's not nothing. It's better than tax cuts for the rich. Where is Samuelson's evidence that this is wrong?

Recently Bernanke has made a qualitative change in policy in response to the weakness of the labor market. We'll see if it works. I'd like to think he changed his mind in part due to the tireless efforts of the community of bloggers and economists - like Krugman and Mr. Baker! - who discuss the issues day in and day out. No thanks to the naysayers like Robert Samuelson or various commenters who believe fiscal stimulus is somehow going to arrive one day flying on the back of a unicorn all rainbows and sunshine.

I'm tired of Samuelson. We should place David Brooks, George Will and Samuelson in a rocket ship and launch them into space. 


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