So let s summarize: The economy isn t fixing itself. Nor are there real obstacles to government action: both the bond vigilantes and structural unemployment exist only in the imaginations of pundits. And if stimulus seems to have failed, it s because it was never actually tried.
Listening to what supposedly serious people say about the economy, you d think the problem was "no, we can t. But the reality is "no, we won t. And every pundit who reinforces that destructive passivity is part of the problem. |