In Our Country, Learned Ignorance Is On

Under The Gold Standard America Had No Major Financial Panics Other Than In 1873, 1884, 1890, 1893, 1907, 1930, 1931, 1932, And 1933.

These Days, However, The Main Problem Comes From The Right - From Conservatives Who, Unlike Most Economists, Really Do Think That The Free Market Is Always Right - To Such An Extent That They Refuse To Believe Even The Most Overwhelming Scientific Evidence If It Seems To Suggest A Justification For Government Action.

The Great Thing About Fiscal Policy Is That It Has A Direct Impact And Doesn't Require You To Bind The Hands Of Future Policymakers.

Anyone Who Thinks That The Last 80 Years, Ever Since Fdr Took Us Off Gold, Have Been A Doomed Venture, That Strikes Me As Kind Of Cranky.

Consumer Spending Is Now Plunging At Serious-recession Rate ... Even If The Rescue Now In Train Succeeds In Unfreezing Credit Markets, The Real Economy Has Immense Downward Momentum. In Addition To Financial Rescues, We Need Major Stimulus Programs.