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December 06, 2008


Larry Mishel

Sorry, but this is crazy and unfair to say about Stiglitz. He's clearly saying that the free ride that market fundamentalist thinking has received over many years is over. And, he's glad. I do believe it is not worthwhile refighting the 1990s intraparty economic policy fights. But it surely is true that too many Democratic economists were cowed by market fundamentalism and tended to echo the 'market works', the 'private sector creates jobs, not the government' and 'the era of big government is over'. Why shouldn't Stiglitz be glad that his view of economics and of the economy is becoming ascendent. He's not enjoying anyones economic misery.
Larry Mishel

Robert Waldmann

Hello Dr Mishel. Did you know that chapter 3 of my dissertation was based on a seminar you gave ?

The interpretation of Stiglitz that I presented as a possibility is not fair. It is not politics to appoint people who don't appear to be loathsome so long as everyone interprets their poorly worded statements fairly. Now Summers has sure said, written and/or signed some crazy stuff, but he demonstrated an ability and willingness to control himself.

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