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View Diary: Which economists will our next President listen to? (13 comments)

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  •  yep. even more for Britain and Academia (0+ / 0-)

    Obama at least has mixed results, because he did take the advice for a modest stimulus at the beginning of the term. So it's conceivable he could switch. (Unlikely, maybe, but conceivable.)

    But Britain can't. They're too deeply wedded to making austerity work.

    And a professor who's built a career based on a wrong theory can't say "whoops". That career is dead.

    The bigger problem is that since we repeated the exact same  mistakes as the 1930s depression, we're likely to repeat again the next time this happens.

    It's not a question of knowledge.

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