Tuesday, February 10, 2009


I have been really hard on the EPI in the past for giving people the title "Economist" and lending our credentials to moronic claims and misleading statistics, so it is only fair that I give them credit when they let an actual economist present an actual claim on the economy. The EPI has an economist quoted on CNN who actually holds a PhD in economics:
But the risk of doing nothing is far greater than the current price tag, some economists contend.

"The single worse thing that can happen when the economy gets mired down is to sit on the sideline, pull back, start acting like a scared household, because that's the recipe for a recession that lasts a decade rather than three years," said Josh Bivans of the Economic Policy Institute.
I don't think that is the recipe or that it is the single worst thing, but whether or not it is an important ingredient can be well argued. Congrats to the EPI!

No comments: