Re: [Pen-l] PK on Obamanomics

[Carrol Cox <cbcox@xxxxxxxxx>]

If those who see the crisis as something other than the beginning of a
New Depression are correct, then Krugman is correct. But if those, such
as Patrick Bond, who see the crisis as much deeper are right, then
Krugman is as far off or further off than those he criticizes.

During WW2, which ended the Depression, there was not only a huge
increase in industrial production for war. There were also over
10milliion men and women in the military. And of curse there was a huge
increase in government civilian employees. If we reallya re on the verge
of something at all like the 1930s (and I have no opinion on this), then
Krugman's proposals are ALSO pitifully inadequate.

Carrol

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