The Greening of America

Andrew Leonard has a short piece over at Salon titled, Chicago School: Bloodied But Unbowed. It's an interesting little piece full of links to previous articles and statements. It also includes this zinger:

.... some of the Chicago economists don't sound a whole lot different from your typical South Carolina Republican. Here's Sam Peltzman, the Ralph and Dorothy Keller distinguished service professor emeritus of economics (italics mine):

"This experience is going to seal the tomb on socialism for all time," he says. "If this can't bring it back, it's hard to think about what could." A burst of Keynesianism should surprise no one, he argues. Of course we hope the government can step in and save the economy. In a crisis people "become infantilized and go back to what's comforting to you as a child."

The Keynesian burst, Peltzman insists, will wane. "It's clear already it's not working," he says. "There are two possible reactions to that: 'Well, it's not big enough,' from the left. The other, from people like me, is it'll make it still worse if you go down that road."

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To refute Peltzman's claim, Leonard offers a link to THE ECONOMIC IMPACT OF THE
AMERICAN RECOVERY AND REINVESTMENT ACT OF 2009, FIRST QUARTERLY REPORT, SEPTEMBER 10, 2009
. This is the official administration report which makes for much more interesting reading. It's 48 pages of PDF and I have only had a cursory look through it. Needless to say, it paints a self-congratulatory and very "greeny" picture.

Have at it everyone!

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But if the stimulus does work...

then could be obliterate all of these 'neo-liberal' policies, demolish the University of Chicago (at least the building with the economics department) and kick all these 'neo-liberal' fu*ks out the country?

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Another thing why does "chicago school" have any credibility

after their huge debacle in Chile and creation of multiple asset bubbles and huge income inequality in the U.S.

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Look at public discourse.

There has been a very deep and profound brainwashing campaign deliberately employed by "movement conservatives" over the last almost half century. It is the stuff started by Goldwater and Reagan in the mid 60s, and it craftily employed the strategies of Kevin Philips, Lee Atwater, Grover Norquist, etc.. Milton Friedman's close association with the early movement and the introduction of the "Santa Claus" strategy created the economic pulse of the movement. I would highly recommend Thomas Frank's excellent review of the conservative (= Chicago School) tactics and history in his book "The Wrecking Crew". It's a terrific piece of investigative journalism.

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