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kpete

(71,898 posts)
Thu Jul 12, 2012, 10:26 AM Jul 2012

KRUGMAN: "I really don’t get it."

PAUL KRUGMAN IS ALSO PUZZLED BY JEFF SACHS:

http://krugman.blogs.nytimes.com/2012/07/12/magneto-muddles:

Keynes argued that the Great Depression could be thought of as a failure in the car’s electrical system; so let’s think of it as a situation where your car won’t run because it has a dead battery — that is, you could get it running again with a fairly trivial and easy intervention: just buy a new battery, which costs only a tiny fraction of the expense of a new car.

In saying this I am not denying that there may be other problems with the car, perhaps even big ones. Maybe it needs new brakes, or a new transmission, and these had better be dealt with soon.

Still, what sense can it possibly make to say that therefore you shouldn’t start by replacing that dead battery?

I really don’t get it.

http://krugman.blogs.nytimes.com/2012/07/12/magneto-muddles/

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KRUGMAN: "I really don’t get it." (Original Post) kpete Jul 2012 OP
Yeah, that's a GREAT analogy. DCKit Jul 2012 #1
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