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Larry Summers’s call for fiscal stimulus falls on deaf ears
It is sad somehow that one of our most brilliant economists seeking to save the global economy by resurrecting simple policy solutions that were proven effective eight decades ago must do so in a newspaper op-ed below the fold. Larry Summers, the Harvard economist whose personality has repeatedly torpedoed his attempts at active policy making, couched his latest jeremiad about the coming stagnation and recession in terms of possible remedies ahead of the International Monetary Fund/World Bank meetings beginning this week. But his op-ed in the Washington Post urging massive fiscal expansion is an indictment of the ... (full story)