MaggieMae
Reality bits
- Apr 3, 2009
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Take off the rose-colored glasses and stop playing the blame game.
Appearing in FORTUNE magazine, October 15, 2010:
Who can magically fix the economy? No one - Full version - Oct. 15, 2010
More at link.
Appearing in FORTUNE magazine, October 15, 2010:
Who can magically fix the economy? No one - Full version - Oct. 15, 2010
From listening to what passes for public debate in our country, you'd never know that. You'd think that the federal government could revive the economy quickly if only Congress would let it be more aggressive with stimulus spending. Or that the Fed could fix it if only it weren't overly worried about touching off inflation. Or that the free market could fix it if only we made deep and permanent tax cuts. Watch enough cable TV, listen to enough talk radio, read enough blogs and columns, and you'd think that they -- the bad guys -- are forcing the country to suffer needlessly when a simple and painless solution to our problems is at hand.
But if you look at things rationally rather than politically, you'll see that Washington has far less power over the economy, and far less maneuvering room, than many people think.
More at link.