Over at Equitable Growth: The highly-estimable Jared Bernstein has a very nice piece today. It attempts to sum up a great deal about the state of the economy in a very short space with five super-short equations;
- One is about our current likely-to-be-chronic inequality problems.
- Two are about our demand-management and maintaining-employment problems.
- Two more strongly suggest that the solutions to our problems are extraordinarily simple. They say that in our current dithering and paralysis we are frozen out of fear of dangers that simply do not exist. Thus we are leaving very large and very gourmet free lunches on the table.
So, first, let us listen to Jared: