Wednesday, February 1, 2017

Forget multiple equilibria stick to comparative dynamics

Roger farmer wants us to condemn Paul Samuelson for his belief in spontaneous ie endogenous 
Recovery from contractions 

Nonsense !

The problem with leaving it to the corporations and households is obvious
It's too SLOW 
too long between trough and recovery yes too long 
and too deep a drop from peak to trough too ! 

The state with correct macro nautics can do better !
In fact the state can end the output and employment cycle as we know it 

And we know it and have known it ..more or less ..
since the  late 1930's and early 40's 

After thirty years of reactionary NEW DEMOCRAT hegemony
The prog wing of the  Democrats ...the new majority democrats....
The new hegemonic democrats ....need to thrust 
this self evident truth 
on a long suffering long awaiting multitude 
of job class dis illusionists

Perpetual full employment !