Economic Anthropology: David Graeber Meets the Noise Machine...
Adam Posen: The Case for Doing More (Expansionary Monetary Policy, That Is)

Doug Elmendorf: More Fiscal Expansion Now

Doug Elmendorf:

Testifying in Front of the "Supercommittee": Credible policy changes that would substantially reduce deficits late in the coming decade and over the long term, without immediate cuts in spending or increases in taxes, would support the economic expansion in the next few years and strengthen the economy over the longer term,” Elmendorf said at the hearing. “There is no inherent contradiction between using fiscal policy to support the economy today, while the unemployment rate is high ... and imposing fiscal restraint several years from now, when output and employment will probably be close to their potential….

If policymakers wanted to achieve both a short-term economic boost and medium-term and long-term fiscal sustainability, a combination of policies would be required: changes in taxes and spending that would widen the deficit now but reduce it later in the decade…

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