Friday, February 11, 2011

I like this article... I'm linking to it:
Libertarian Will Wilkinson writing for The Economist's Democracy in America blog:
"Reaganomics debased: Paul Ryan's Republicanomics."

"Reagan met the specific challenges of the American economy in the early 1980s through tax cuts and tight money, among other things. Republicanomics transformed the policies of the Reagan administrations and the Volcker/Greenspan Fed into hardened ideology."

Wilkinson, oddly enough, gets much of his thought from an article by a progressive writer in The Daily that is also worth reading:
The Curse of Republinomics.

It's the same stuff Scott Sumner, David Beckworth, and other conservative monetary economists have been saying for a while. I can't resist re-writing a Scott Sumner quote into my own words:

"Sometimes I feel like I am trying to save conservatives from themselves... I do have a problem with conservative politicians sitting on regulatory bodies, like Paul Ryan, who are ignorant of the key tenets of monetary theory, that do not know the meaning of basic economic terminology, indeed that seem to have created a private language that has nothing to do with the real world. "

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