Wednesday, December 3, 2014

Yeah for Mark Thoma!

How many economists go out of their way to examine in public what they got wrong in their past views, and what they learned by making such mistakes? I'd say the list is exceedingly short.

So three cheers for Mark Thoma, who does just that in an excellent column in the Financial Times. This is how you inspire trust.

10 comments:

  1. I posted the following on Mark's column.

    Suspicious as one should be of simple solutions there really is a simple monetary solution to recessions. Create a federal sales tax controlled by the Fed. Allow it to drop below 0 when a stimulus is necessary. In other words, a negative sales tax will be a rebate on all purchases. The Fed will adjust the rate positive or negative as the economy requires.

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