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Re: Re: Re: RE: saving and aggregate demand

Haven't conservatives been calling for this policy mix for years --
cut back on
gov't spending and let the fed handle agg. demand?

Brad DeLong wrote:


What's conservative about a high rate of investment? What's
conservative about recognizing that--in normal times--the decision
cycle of the Federal Reserve in making monetary policy is much
shorter than the decision cycle of the President-plus-Congress in
making fiscal policy?


Brad DeLong


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