Mainstream Economists: “Mission Accomplished”

Washington’s Blog
July 29, 2010

Numerous current stories show how disconnected mainstream policy-makers are from reality.

For example, Ryan Grim points out that there is an “unbelievable disconnect” between the American people (who are people are against the Afghanistan war) and Congress and the political elite (gung-ho to escalate this never-ending war):

Even after the Wikileaks revelations, even though there is no logical reason to be in Afghanistan, even though the war won’t help the economy, and even though most Americanswant us to get out, Congress keeps increasing funding for the endless war.

And Alan Blinder (economist, banking consultant and former Vice Chairman of the Board of Governors of the Federal Reserve System) and chief Moody’s economist Mark Zandi wrote a paper yesterday called How We Ended the Great Recession:
How We Ended the Great Recession