Ten Second News

We Need Countercyclical Spending, Not Counterintuitive Spending Cuts

Matt Yglesias points out once again that since we can borrow money at basically negative real interest rates, we should do it. We should do it to stimulate the economy, put money into infrastructure like high-speed rail, and get the beast chugging along again. Given that lower-than-projected growth is actually leading to an increase in…

Growth vs/equal to Prosperity?

Will Wilkinson reprints the response of John Cochrane to the Brad DeLong-Luigi Zingales debate at the Economist.  [The whole debate is very much worth the read]. Cochrane begins: Nobody is Keynesian now, really. Keynes distrusted investment and did not think about growth. Now, we all understand that growth, fueled by higher productivity, is the key…