Tuesday, April 7, 2009

Freshwater Economists

This is getting a little out of hand--Brad DeLong and Krugman know more about Chicago economic theory than Chicago economists.  I'm not a fan of the Treasury's plan to fix the banks--I don't think anyone is--and I'm fairly mistrustful of the stimulus as passed.  The administration's plans on energy, healthcare, and education leave me a little worried.

But even more scary is the complete lack of credible opposition.  A world in which Cochrane and Lucas are apparently willing to have the government do nothing about a massive credit crunch and economic downturn is one that spells complete intellectual disrepute for the conservative movement.  Add the fact that the media foot soldiers--your Rush Limbaughs and so forth--are completely radioactive.  And then that Republicans in Congress can't think beyond spending freezes, and apparently don't realize that Americans want affordable healthcare.  

Sure, Republicans will win again after liberal overreach.  But the quality of that governance will depend on people thinking now about how to apply their principles to pressing issues.  

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