znet/weisbrot on deflation - critique?

Jim Farmelant farmelantj at juno.com
Fri Jul 11 04:44:02 MDT 2003

On Fri, 11 Jul 2003 15:22:49 +1000 Gary MacLennan
<g.maclennan at qut.edu.au> writes:
> I too would be interested in a response from the economically
> literate as well.
> My own opinion, from the depths of the most partial of
> understandings, is
> that the article makes too easy an assumption about how the cure for
> deflation could be brought about.  For him it appears to be a simple
> case
> of pressing the Keynesian button, printing money and increasing
> demand.
> If it is so simple why hasn't Japan done it?

It is my understanding that Japan tried that during
the 1990s and it failed.  It was one thing to make
cheap money available but quite another  to get
people to borrow and spend it.

>He gives no
> explanation
> here.  To say that the problem is not economic but political really
> betrays
> at best a liberal consciousness.  Even if the characterisation is
> correct
> why should political problems be easier to solve than economic ones?
> I will await what my economic betters say with great interest.
> Gary
> d equation between KeynesianAt 12:12 AM 11/07/2003 -0400, you wrote:
> >a request to folks on the list, as i am still learning the
> economics - is
> >there anything fundamentally wrong with the assessment here?
> >
> >http://www.zmag.org/content/showarticle.cfm?SectionID=10&ItemID=3857

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