Gracias Brad

En mi ante último post aborde la importancia que tienen las particularidades y los contextos. Brad DeLong me tiro una cuerda con una respuesta sobre los déficits fiscales de EEUU en el tiempo, demostrando que no todo son modas.

Intellectual Garbage Pickup--John Henke at "The Next Right" Edition

rmoomaw writes:

What in your opinion is wrong with this analysis?

John Henke, Doubling Down on the Deficit Disaster The Next Right.

I reply:

r (if I may):

1. The long-run deficits that John Henke decries are not much, much worse than they were in 2003--they are somewhat better. Obama has cut the long-run deficit. Bush boosted it. It remains a big problem--but it's not a problem of Clinton's or Obama's or Pelosi's or Reed's creation, it's a problem created by Bush and his cheerleaders like Jon Henke.
2. Henke accuses Paul Krugman of inconsistency for worrying about deficits in 2003 but not about short-run deficits now. If the 2003 unemployment rate had been forecasted to be above 10%, Krugman would have been calling for bigger deficits in 2003 as well. I don't know whether Jon Henke is foolish or mendacious, but "cyclical deficits when the economy is in deep recession good; long-term structural deficits bad" ought not to be too complex a doctrine to be grasped by someone who claims to be speaking for the Next Right.

I think that takes care of it.

Yours,

Brad DeLong

Me parece que queda claro, no hay una forma inequívoca de juzgar los déficits o cualquier política económica, todo depende del CONTEXTO. No es que Krugman pasó de ser un neoliberal amante de las políticas de ajuste en el 2003, como lo calificaría Cristina, a un keynesiano súper cool. Para un país sin acceso al crédito y donde por ahora no se demuestran deseos de recrearlo como Argentina, no generar fondos anti cíclicos es el equivalente a incurrir en “long-run deficits”, aun mas si era muy posible que cayeran los precios de los commodities eventualmente. Por último, lo que Cristina califica como neoliberalismo y “ajustismo” fue consecuencia de la falta de crédito público. Esperemos que nuestra presidenta no se pase a esta moda “re out” tipo nineties.