Thursday, November 12, 2009
Barro on the Great Depression and the impact of fiscal policy.
I invited Robert Barro to be a participant in my second book on the economics of the Great Depression along with Ben Bernanke, Lee Ohanian, Peter Temin and others. He never answered my letter. Such is life on the D list for both me and Kathy Griffin (although I have yet to have plastic surgery). Here Barro talks about lessons of the Great Depression and makes no mention of the gold standard. How odd? Then he goes on to explain what we know about the impact of government spending and how it is measured. This is where we really should pay attention.