FDL Book Salon Welcomes Dean Baker, Getting Back To Full Employment: A Better Bargain for Working People

By: Sunday January 19, 2014 1:59 pm

In 2009 there was the Keynesian moment. With the economy shedding hundreds of thousands of jobs a month, with the financial system imploding and GDP crashing, the US government stepped in with a stimulus bill designed to get spending started, to boost the states, and to invest for the long-term. At a spending level nowhere near the challenged, President Obama still managed to oversell what it would deliver. By 2010, with unemployment still high, Democrats would silently walk away from the entire endeavour.

This lead to the counter-Keynesian assault of 2011-2012, politically lead by the Tea Party in Congress.


The Grand Bargain Circus Is Back in Town!

By: Wednesday September 25, 2013 5:45 pm

Hey looky, the circus is back in town – and here come the two lead clowns, one red clown and one blue clown – specially chosen by the Ringmaster.

Larry Summers Says That Reinhart-Rogoff Type Mistakes Are “Distressingly Common” Then Goes On to Prove His Point

By: Monday May 6, 2013 6:30 pm

Larry Summers weighed in on the famous Reinhart-Rogoff Excel spreadsheet error in a Washington Post column this morning. His first big lesson from the debate is:

“Anyone close to the process of economic research will recognize that data errors like the ones they made are distressingly common.”

Robert Samuelson Tries to Salvage Reinhart-Rogoff and Austerity

By: Thursday April 25, 2013 4:00 pm

I have a policy of not discussing items that directly refer to me in this blog, but I will make an exception today because the issues raised by Robert Samuelson are important. In his column Samuelson makes two key arguments. First, that the Reinhart-Rogoff conclusions about high debt leading to slow growth still stand even after the errors in the original paper were corrected, and second, that this work was never really the basis for austerity anyhow.

Late Night: ‘No Matter How Much the Results Change, the Hypothesis Must Remain the Same’

By: Wednesday April 24, 2013 8:00 pm

A study on the flawed study of austerians Reinhart & Rogoff.

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