15/09/07 13:07:55.90 sVyrAhIl.net
>>203の続き
4. Austerity hurts: A lot of people who should have known better bought into
the confidence fairy, or at least accepted the notion that multipliers were
fairly small; I said big multipliers under current conditions, little or no
offset from confidence, and the research has caught up with and vindicated
that position.
5. Inadequate stimulus: I warned, early and often, that the ARRA was hugely
inadequate, and that its inadequacy would have lasting consequences ---
that by falling short, it would discredit the whole notion of stimulus
as far as politics was concerned. Alas, I was right.