Hey Rocky, watch me pull a rabbit from my hat...
But at heart, this was Krugman vs Summers, which is an inspired match-up: especially in election season, one of the most important criteria for any debate is that it not cleave easily and obviously along party-political lines. That way people just end up voting their party and rehearsing tired party-political talking points.
This debate, because it took place within a basically Keynesian, leftist worldview, was very interesting.
... and debate only the perennial failure of Keynesian solutions in the best of light.
Keynes made a Great Depression of a harsh recession, a perma-recession of Japan's recession, and the Keynesian Depression we live with in the US today.
Fail. Fail. Fail.
And this says nothing of the long term damage exacted on the American economic and political psyche by Keynes' prioritizing spending above saving.
Whatever, keep debating deckchair placement.
out
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