Thursday, November 13, 2008

Greg Mankiw's Blog: Cues from History

Greg Mankiw's Blog: Cues from History

Learning form the History
History teaches us that this backlash generates a populist push that can easily morph into economic policies that turn away from free trade, tax high-income earners, impede markets in the name of redistributing income, and pander to special-interest groups that cost a lot while carrying few benefits. The result can be large and long-lived effects that depress economic activity, sometimes for decades.
How to nail this nasty temperamental bitch and relinquished her right to have any resurrection. Then probably there would be no economy cycle than he has to re-write his beloved text book again