[lbo-talk] Economic Stimulus for whom?

[CHRISTOPHERR CARRICO]

Paul Krugman wrote in his New Year’s Day column in the NY Times that
“Nobody understands debt.”  He complained about the “wrong-headed,
ill-informed obsession with debt” that characterizes the current
Republican-controlled Congress and is a key element in contemporary
conservative thought.

Krugman makes a number of arguments about why the debt is not as
pressing a problem as Republicans assert, all of which are valid. But
Anwar Shaikh's Marxist analysis in “The First Great Depression of the
21st Century” makes some observations about how debt is spent that are
missing in Krugman's Keynesian model.

full text here:

http://asitoughttobe.com/2012/01/06/economic-stimulus-for-whom/