There is a great piece in the New York Times profiling Ken Rogoff and Carmen Reinhart and their book, This Time is Different. The background on each of them makes for an interesting read in and of itself.
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Mr Rogoff has a good point! Its the same one that I have been making here on earlier posts. The subject of theoretical macroeconomics can explain our present situation and by simulation using a number of possible polices provide a workable solution. The model that I use for this is as simple as possible without being too simple. I am writing up my original analysis and discoveries, but if anyone is really interested please contact me
chesterdh@hotmail.com
If any one is intereted in why the Rogoff etc book is wrong they should read Randy Wray’s article in the Levy Economic News [ Levy Economics Institute at Bard College] or contact Randy at the University of Missouri-Kansas City and ask him to send a copy of his article.
Paul