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The Second Gilded Age Once Again

Lawrence Summers Is Chopped Liver?

I have sometimes been referred to as if my name were "Coauthor"--as in "Lawrence Summers and Coauthor argue". And I have even--once or twice--seen Larry referred to as "Coauthor".

But I have never before seen Larry edited out of existence completely. But here it is:

Tyler Cowen: When it comes to the lacklustre recovery from the financial crisis, the dominant left-wing narrative has been shaped by Paul Krugman and other Keynesians. The main villain in the piece is austerity. In this view, if only Western governments had the guts to borrow and spend more money, economic recovery would have been much quicker. Instead, the doctrines of the "Austerians" have ruled, and spending cuts have left much of the West in an economic torpor or even brought a downward spiral. It has become a common view - promoted by the University of California at Berkeley economist Brad DeLong - that more government borrowing and spending might have paid for itself through boosting economic growth, a kind of "Laffer Curve" for the Left…

The paper is:

J. Bradford DeLong and Lawrence H. Summers (2012), "Fiscal Policy in a Depressed Economy", Brookings Papers on Economic Activity 2012:1 (Spring) http://www.brookings.edu/~/media/Files/Programs/ES/BPEA/2012_spring_bpea_papers/2012_spring_BPEA_delongsummers.pdf