Surplus NOT from Capital Gains Receipts (Re: Krugman qualitycontrol

Doug Henwood dhenwood at panix.com
Wed Jul 26 06:18:06 PDT 2000


Max Sawicky wrote:


>Only if you credit him for the boom. Some don't, except in
>the
>backward sense that he hasn't tried very hard to kill it.

Surely AG's greatest achievement was not tightening in '96, when there was great pressure from his colleagues and from Wall Street to do so. The Asian collapse would have been a real humdinger if he had, and U.S. unemployment sure wouldn't be 4%-ish.

Doug



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