Speaking of superheroes, here’s last night’s debate at UC Davis between Brad DeLong and Michele Boldrin over whether the stimulus will or can work.
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Or that’s what it was supposed to be over. Instead Boldrin seemed to want to say, “but we need to fix the banks.” And DeLong would say, “yes, we do, but that doesn’t preclude stimulus.” And Boldrin would say, “I don’t want my taxes to go up.”
It’s actually a lot funnier, and more fun, than that summary suggests.
The Edge of the American West 
7 comments
March 5, 2009 at 9:35 pm
Josh
107 minutes? Can you at least give us timestamps for the high points?
(Not that I don’t believe you, but if I’m going to watch anything for 107 minutes it’s damn well not going to be on my laptop.)
March 5, 2009 at 11:10 pm
tf smith
Yeah, but will Debbie Schlussel-whatever harrumph “WHO WILL PROTECT THE CHILDREN!!!” over and over in ALL CAPS in order to protect BofA’s honor from the evil R-rated-anarchist-mohammedan-rotarians???
Tune in next week, same moonbat-crazy-time…
I actually went out with a Young American for Fascism luna-fraulein like Schlussel-feffer once; not something I did again…
March 6, 2009 at 11:09 am
gappy
That’s ridiculous and demeaning. “Boldrin seemed to say”. If you quote someone, do it right. He clearly said that:
1. some parts of the stimulus may be more or less acceptable (tax cuts, education);
2. the stimulus as a whole will be ineffective and does not address the structural problem;
3. that the reform of the banking system is fundamental, and that there is sufficient circumstantial evidence to prescribe effective policies;
4. the entire classical keynesian framework is inadequate.
March 6, 2009 at 2:28 pm
eric
gappy, I didn’t say he seemed to say; I said he seemed to want to say — my use of “seem” is to indicate that I don’t know his true state of mind, but his behavior suggested he very much preferred to talk about the banking crisis.
March 6, 2009 at 4:38 pm
StevenAttewell
However, I would say that he never actually explains why the classical Keynesian framework is inadequate, or really engages with with the stimulus will be ineffective. For example, his comments about housebuilders not becoming nurses, ergo health care money isn’t stimulative. This is patently ridiculous. Nurses get more money, they might go out and buy a house since housing is very cheap, they definitely go out and spend their wages on food, clothing, housing, entertaintment, etc. Those employers might decide to rehire workers and add shifts and expand their stock to keep up with increasing demand, they might even build bigger premises, and hey presto, the housebuilder gets a job because of more money for nurses.
But Boldrin really didn’t engage with that in a sustained way. He just stated it and moved on.
March 6, 2009 at 4:39 pm
StevenAttewell
* above, that should say “with why the stimulus will be ineffective.” Or “explains why the stimulus will be ineffective.”
March 6, 2009 at 7:03 pm
Bloix
I’ve never seen Prof DeLong on tv before. He reminds me of Wallace Shawn.