President-elect Barack Obama said Thursday the recession could "linger for years" unless Congress pumps unprecedented sums from Washington into the economy.That is a very Keynesian view, a belief that the economy lacks strong stabilizing forces. I live in the other camp, the camp that thinks that the economy has strong stabilizing forces over a period of a few years, and the greatest danger is destabilization from the government. What is rather odd is that both views look to the Great Depression for support.
*Uneasy Street: The Anxieties of Influence*
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