Noah Smith vs John Cochrane on Jeb Bush’s 4 percent solution
- Here, Four percent?, John Cochrane thinks it's doable through Free Market, Reagan-like policies
- Noah Smith says it may not be that easy and that Mr. Cochrane didn't really offer any proof that free-market policies would even work. Growth Fantasy of Tax Cuts and Small Government
- Cochrane, doing his best Tucker Carlson imitation, counters that, yes, he admits that he didn't offer any proof that the free-market would save the day but Noah didn't offer his own theory for growth so there! The other Smith on Growth
- Mr. Smith finally destroys Mr. Cochrane here: Free-market ideology and the burden of proof
I think history will show that Reagan's real, lasting legacy won't be the economic turn-around of the 80s, the fall of the Soviet Union, or the explosion of the national debt. Instead Reagan's stamp-on-history will be his influence on a generation of future US leader-elite, who saw the US shake off the post-Vietnam malaise of the late 70's with Free-Market Reaganomics and who now think those same free market policies can, and should, be applied to every economic situation.
When you grow up as a hammer, every problem looks like a nail.
The generation of Noah Smith may save us.
tnb
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