Quote of the Day: Mark Thoma

Kenneth Rogoff: “Those who believe — often with quasi-religious conviction — that we need even more Keynesian fiscal stimulus, and should ignore government debt, seem to me to be panicking.”

Since we’re giving opinions — let’s call them “seems to me-isms” — rather [than] analysis, let me give mine: “Those who believe — often with quasi-religious neoclassical conviction — that no further  Keynesian fiscal stimulus is needed, and that government debt cannot be ignored, seem to me to be insensitive to the needs of the millions of unemployed, and at odds with the available evidence.”

As for the snide remark about “panicking,” for those who are truly panicking due to the struggles they face finding a job, paying the bills, and so on, some urgency from policymakers would be much appreciated.

— Mark Thoma (University of Oregon)

Best of the Week(s): June 13 – July 10, 2010

10. Sudan’s Next War and the Failure of U.S. Leadership — Eric Reeves
9. NOAA: Warmest May, Spring, and Jan-May on Record — Joseph Romm and Global Warming and GDP — Jim Manzi, Brad Plumer, Ezra Klein, & Mike Konczal
8. Could Raising the Income Cap Save Social Security? — Dylan Matthews
7. Regulate Short-Term Funding To Make Banking Safe — Enrico Perotti
6. Costs of Fiscal Austerity — J. Bradford DeLong & Paul Krugman, The Arrogant David Brooks Tells Readers That Stimulus Will Risk National Insolvency — Dean Bakerand Don’t Expect Miracles from Monetary Policy — Mark Thoma
5. The Crisis and the Euro — George Soros
4. Iraq Surge Narrative Challenged by Studies — John Agnew & Claudio Guler
3. On Dodd-Frank: An Overlooked Provision, Section 716, and the Volcker Rule — Economics of ContemptOn Dodd-Frank: Major Swap Participants, Swap Execution Facilities, and Block Trades — Economics of Contempt, and Reforming the Over-the-Counter Derivatives Market: What’s To Be Gained? — Kent Cherny & Ben R. Craig
2. Blackwater’s New Sugar Daddy: The Obama Administration, Former Top CIA Spy: How U.S. Intelligence Became Big Business, and Obama Administration Keeping Blackwater Armed and Dangerous in Afghanistan — Jeremy Scahill
1. The Runaway General — Michael Hastings
BONUS: They Grow Up So Quickly, Don’t They? — A. O. Scott