Neo-liberalism

[Brad De Long]

>That reminds me of Reagan's old anecdote about the boy who opened the barn
>door on Christmas day to find a big pile of horseshit waiting for him. But
>he didn't despair, he was overjoyed - "there must be a horse here somewhere
>then!" As Pritchett's paper shows, or as anyone who plays with Maddison's
>data or the Penn World Tables can see, the "backward" have been steadily
>slipping further backward. Does that mean they're just getting richer with
>potential every day?
>
>Doug

Yep. It does. The *opportunity* is there... But the reality isn't...

Brad DeLong