We can't help the economy? Or won't? (Krugman)

[woo me with science]

http://www.nytimes.com/2011/07/11/opinion/11krugman.html?_r=1

No, We Can’t? Or Won’t?
By PAUL KRUGMAN
Published: July 10, 2011


If you were shocked by Friday’s job report, if you thought we were doing well and were taken aback by the bad news, you haven’t been paying attention. The fact is, the United States economy has been stuck in a rut for a year and a half.

Yet a destructive passivity has overtaken our discourse. Turn on your TV and you’ll see some self-satisfied pundit declaring that nothing much can be done about the economy’s short-run problems (reminder: this “short run” is now in its fourth year), that we should focus on the long run instead.

This gets things exactly wrong. The truth is that creating jobs in a depressed economy is something government could and should be doing. Yes, there are huge political obstacles to action — notably, the fact that the House is controlled by a party that benefits from the economy’s weakness. But political gridlock should not be conflated with economic reality.

Our failure to create jobs is a choice, not a necessity — a choice rationalized by an ever-shifting set of excuses...

(more at link)

[xchrom]

1. recommend

[Electric Monk]

2. You forgot the link (k&r)

http://www.nytimes.com/2011/07/11/opinion/11krugman.html

[woo me with science]

5. Thanks. Fixed. nt

[strategery blunder]

3. More at link that doesn't exist, please add one n/t

[Autumn]

4. I'll take "won't" for a 1000.

It's an easy fix and none of them want to. It is of no benefit to them. K/R

[unblock]

6. how long to we take it as an article of faith that the free market will put people back to work?

i'm not an anti-bailout person -- i think the bailouts could have been handled better (MUCH better) but i think they were necessary and things would have been worse without them.

however, i think it's RIDICULOUS that big institutions get huge bailouts immediately without being required to hire, lend, get the economy going.

and mere mortals have to wait for years for jobs, because we can't have the government actually giving them jobs; no, mere mortage have to wait for the private sector to work its magic.

[woo me with science]

7. Kick. nt