Krugman Versus Summers

http://www.futureofcapitalism.com/2009/08/krugman-versus-summers

One of the best counter-arguments to Paul Krugman's claim this morning -- "reasonable estimates suggest that around a million more Americans are working now than would have been employed without that plan — a number that will grow over time — and that the stimulus has played a significant role in pulling the economy out of its free fall" -- is the one made by President Obama's economic aide, Lawrence Summers: "It is too early to know how successful our policies have been. It is not even clear how we will know ultimately whether they have succeeded, because of the difficulty of constructing a counterfactual and knowing what would have happened without intervention."

by Editor  |  Aug 10, 2009 at 9:15 am Related Topics:  Lawrence Summers, Press, Stimulus receive the latest by email: subscribe to the free futureofcapitalism.com mailing list