Dean Baker on Rewriting Economic History
Dean Baker, and a few others, are shaking their heads over the New Yorker’s Ryan Lizza’s profile of Larry Summers, former, and formerly infamous, President of Harvard, and now President Obama’s head of the National Economic Council.
…we are told in conclusion that: “So far, none of the worst fears of those who believed that the stimulus was too small or that nationalization was the only option or that taking over car companies would destroy the fabric of capitalism have materialized.”
Sorry, but this is wrong, big time. The worst fears of some of us who said that the stimulus was too small were that we would be sitting around with 10 percent unemployment for a long period of time and that stimulus would be discredited. That pretty well describes the world
Jason Linkins at HuffPo adds a few cents worth and points to Felix Salmon who had both good and bad to say about the Lizza article and Summers himself.
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