Friday, December 26, 2014

Related to that Christmas Eve post...

There's a piece in today's Wall Street Journal called "The Fed's Needless Flirtation With Danger" in which Martin Feldstein writes that to stimulate demand, "Well-designed tax rules are a safe and effective alternative to quantitative easing".  Dr. Feldstein argues that we'd have been better served by stimulative tax policies that induce businesses to make new investments and help consumers consume, as opposed to so much QE.   

Unrelated to that X-mas Eve post...

I once saw an Economist on Squawk Box who insisted that nearly all economists collectively agree on all major policy prescriptions.  I
Nassim Taleb, Wikipedia
wish I could recall his name. 
He still strikes me as wishful, if not slightly delusional.  In my opinion, the guy wanted viewers to believe that the discipline of economics actually breeds the kind of certainty found in the natural sciences.  

In any case, wouldn't a Krugman-Feldstein debate or a Taleb-Krugman debate be an interesting spectacle?  I'd settle for a Twitter smack-down.
Paul Krugman, Wikipedia

I miss the old TV debates that featured thought leaders at opposite ends of a policy spectrum, hashing out their differences on politics and economics.  My favorite debater remains the late William F. Buckley.*
*Amazon Prime members can access some of WFB's old Firing Line debates -- free.
WFB, Wikipedia