Quote:
Originally Posted by alexamenos
David Brooks helps Krugman look like a serious economist:
China, a country on the rise in no small part because it has gone capitalist pig, and government banks printing money....these are short comings of a free market???
Brooks seems to get that 'higher debt, a grossly enlarged financial sector, and unsustainable bubbles' are intrically linked with a flood of easy money, so I suppose that's a step forward.
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brooks use of the term "exogenous" is in reference to the relatively recent emergence of china in the world's economy. remember it was just a couple of decades ago when china was not integrated in the world's economy but was an island of only domestic production/consumption.
the question that the article you attached begs is this: his advise to the republican party is to get with the plan and work to put forth proposals to confront the economic crisis, and stop being the party of "just say no".
in that regard he is right. the crisis needs solutions, and to take the position that if we do nothing everything will work itself out is ostrich-like.