Monday, October 01, 2012

Doesn't play well with others - Greg Mankiw "The price of fiscal uncertainty": "If Baker et al. are right that [policy] uncertainty depresses the economy, and if Woodward is right that the uncertainty we now face with the upcoming "fiscal cliff" is attributable mostly to the inability of Barack Obama to work with Congress, then the implication is clear: The meagerness of this recovery is not simply a hangover from a financial crisis, but rather a reflection of a fundamental political failure."

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