Suskind on Obama via DeLong

Brad DeLong posted these very interesting excerpts from Ron Suskind’s new book Confidence Men on his blog:

Maybe this is part of the “women problem” Maureen Dowd mentions in her recent column. But I thought that column was pretty fluffy, battle-of-the-sexes stuff, whereas this Suskind passage is great. Who would have thought that lightbulb would go off in Larry’s head?

–Chris Sturr

One Response to “Suskind on Obama via DeLong”

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  Chris Sturr says:

  September 24, 2011 at 9:17 pm

  A response from Polly Cleveland:

  “Tragically, not only is Obama wrong that unemployment is due to productivity gains, but Romer and Summers are wrong that it’s due to insufficient demand. Joe Nocera had it right in a recent column: the problem is credit rationing. The Fed can bring long and short term interest rates down to near zero–sucking away the savings of retirees–and that won’t get capital to the small businesses that can use it productively. Unfortunately, (which Nocera doesn’t say) the real solution is off the table: raise taxes on rich people and big corporations. And while you’re at it, break up the big banks.”