Friday, October 03, 2003

As Promised: Garth's post on Ricardian Equivalence is up at America's Outback. He's quite willing to entertain the possiblility that the effect is limited, with which I would agree, but the truth is that monetary policy has acquitted itself right well lately (unless you're in the wing of the Democratic party that sees Tom Joad headed west out of the dustbowl everywhere it looks). Granted, Nixon had bigger fish to fry, but it's an odd coincidence that fiscal policy hit rock bottom not long after Dick declared "We're all Keynesians now."

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