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Everyone thinks¨"growth" sounds good.

"Stability" is pretty nice, too.

So is "fiscal responsibility".

And "single market freedoms".

And "sovereignty".

And "rising living standards".

And "low taxes".

And "quality public services".

And "a social safety net".

The trouble is having all of these things simultaneously seem to be inconsistent with any view of macroeconomics which is not a fairy tale, in the line of Veblen, Keynes, Fisher, Minsky and Keen.

Oh, darn, I'm sounding like an economics crackpot again...

The brainless should not be in banking -- Willem Buiter

by Migeru (migeru at eurotrib dot com) on Thu May 6th, 2010 at 06:35:39 AM EST
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