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...neoclassical economists have an unhealthy infatuation with irrationally excluding discretionary fiscal and industrial policy from the realm of macroeconomic planning.

It probably goes down better with most to just instinctually reject those policies they know in their guts will provoke the ire of TPTB, or, especially, of  those agents of TPTB who have influence over their careers. Gaffney showed rather clearly how this got started through the power of patronage over US private universities, it has been ongoing for over a century and Krugman's blindness to even the role of debt probably only seems willful.

"It is not necessary to have hope in order to persevere."
by ARGeezer (ARGeezer a in a circle eurotrib daught com) on Sun Mar 18th, 2012 at 07:27:46 PM EST
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