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Notes to myself, possibly of interest to others.
-- Bill Northlich

Monday, October 25, 2010

Brad Delong quotes Ed Balls quoting Brad DeLong

History teaches us that when none of the three clear and present dangers that justify retrenchment and austerity – interest-rate crowding-out, rising inflationary pressures on consumer prices, national overleverage via borrowing in foreign currencies – are present, you should not retrench.
---DeLong... a good and coherent read on the austerity question (by Ed Balls)