Monday, May 04, 2009

Larry Summers’ New Model « The Baseline Scenario

Simon Johnson wrote about Larry Summers’ New Model. Johnson doesn't agree with Summer's approach.

"Larry Summers spoke on Friday afternoon at the InterAmerican Development Bank in Washington DC.  As he was addressing a group with  much experience living through and dealing professionally as economists with major crises, he spoke the ‘language of economics’ (as he called it) and largely cut to the analytical chase. Summers made five points that reveal a great deal about his personal thinking - and the structure of thought that lies behind most of what the Administration is doing vis-a-vis the crisis.  Some of this we knew or guessed at before, but it was still the clearest articulation I have seen."

It's a good read and pretty short.

No comments: