I was wondering earlier why Mankiw would publish such rubbish
Was he just ‘spit-balling’ an idea, as a previous post suggests?
Was he meeting his “publish or perish” quota for the academic world and this is just a fluff piece?
Was he acting as a spokesperson for some group that wanted to float a trial balloon? Maybe the balloon wouldn’t be shot down as quickly if it floated up from the esteemed walls of academia instead of the banking sector?
~
“delusion of the ideological elite in its’ death throes”
this is a mixed blessing – while it will be nice to see them go, history says that their ‘fall back and punt’ strategy is to start a world war – war distracts the population from the collapsing economy and provides an enemy for the people to focus their anger on – don’t expect the elite to just take their marbles and go home
