Many people on the left are having a one-sided debate about how to deal with a cyclical downturn. ... But you can only mask structural problems for so long. The whole thing has gone kablooey. The current model, in which we try to compensate for structural economic weakness with tax cuts and an unsustainable welfare state, simply cannot last. The old model is broken. The jig is up.
Tuesday, May 8, 2012
The Structural Revolution
A nice David Brooks column this morning saying the left doesn't get it (which I guess also means his fellow columnist Krugman.)