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View Diary: Morning Feature: Animal Spirits, Part III - Saving, Stock Prices, Real Estate, Minority Poverty (79 comments)

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  •  It's well worth reading. (8+ / 0-)

    However, tomorrow I may disappoint you, as I'll offer some criticisms of their theory.  The criticisms are less about what they include than what they omit: any mention of extrinsic conditions that have changed the U.S. economy since 1970.  I agree with most of their ideas, but I disagree with their tacit conclusion that if we reintroduce the Keynesian economics that worked so well in the post-World War II era, we'll see the same results.  We're just not holding the same cards we held then.

    Good morning! ::huggggggggggs::

    •  Looking Forward to It (5+ / 0-)

      I, for one, am just glad to see the Chicago Sect being exposed as premised on faulty assumptions.  Especially when there are so many things in our economy that can only be explained by their innovators assuming irrational behavior on the part of consumers.

      "I always found it interesting that people would cast aspersions on failure, as if it were a bad thing." -- Michael Steele, RNC Chairman

      by journeyman on Fri Jul 10, 2009 at 05:13:35 AM PDT

      [ Parent ]

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