James reminds us that it's not theory that matters, but what works. To
some it looks like Treasury and the White House are building policy on
hopelessly outdated theory... not to mention outrageous insider
dealings. James is more circumspect in his critique of Mr. Obama's
economic policy thus far, but when he feels the time is right he may
well lay out certain fairly strong objections. We shall see...
In any case, the point is to avoid having the Great Recession turn
into the Second Great Depression, and James' intelligent voice calling
for the government to spend more money is extremely helpful.
As always, if you find this podcast interesting and worthwhile, please
feel free to forward the link.
http://www.electricpolitics.com/podcast/2009/07/economic_snapshots.html