What Gauti says here. I'm one of @JosephEStiglitz's greatest admirers, but I think he picked the wrong target here. He seems to assume that Larry Summers is trying to excuse his errors in power, but that's not what it's about. 1/
Urk. Here is gautieggertsson.blogspot.com/2018/09/secula… 2/
As Gauti says, sec stag is a reason to do more, not less -- which Larry has been saying. And as for the making excuses thing: I started arguing for secular stagnation at about the same time as Summers -- and God knows I was a critic of inadequate stimulus from the start 3/
So this misses the mark -- and actually attacks a doctrine that progressives should welcome, both because it may be right and it strengthens the case for their preferred policies 4/
Summers defends himself, appropriately 5/ project-syndicate.org/commentary/res…
Let's focus our fire on the actual bad guys, OK? 6/
