Oren's Kitchen
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Pessimism of the Intellect...

Mark Thoma:

Economist's View: Paul Krugman: Against Learned Helplessness: I first started worrying about the possibility of a slow recovery of unemployment long ago.... I've tried to keep this issue alive here and in columns, reminding everyone at every opportunity that we need to do more about the unemployment problem, calling or jobs programs, more from the Fed, etc., etc. It's been frustrating. A year ago I gave up on policymakers, but promised "I'll still complain -- there's no reason to let policymakers off the hook." I've tried to do that, to the point where I've sometimes wondered if I'm overdoing it by making the same point again and again. I'm still pessimistic about anything being done to help the millions of unemployed -- I talked earlier this week about how "there seems to be no shortage of reasons to dismiss weakness in labor markets" -- but it's worth it to continue to try...

But I would not call it "optimism of the will." Nevertheless, it is worthwhile to keep on plugging.

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