Monday, December 13, 2010

"Bad Metaphors Make for Bad Policy"

That's the quote of the day, and it comes from Paul Krugman (here) in the New York Times. 

Krugman was arguing that the stimulative effect of the Obama-Republican tax deal is unlikely to be sufficient to rescue the economy from its current malaise. The economy is not like a stalled car that just needs a "jump-start." Nor is it like an invalid who "just needs some rest." Rather, according to Krugman, our economic woes require long-term, "well-designed, sustained support." Whether or not you agree with Krugman about that, the quote is excellent.

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