October 7, 2008

Bailout in the News, Or, ‘why It is a Good Thing That Journalism is Just the First Draft.’

Michael Giberson The recent “first rough draft of history” will need some editing to smooth out the narrative. Pity the poor newspaper reporters and headline writers who daily examine stock market movements and then try to write an account of what it all means. Last Tuesday, the Wall Street Journal featured on the front page: …

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Lessons from the Depression: Emergency Policies Can Prolong Weakness

Lynne Kiesling When Steve Horwitz says that we have to control the narrative in the wake of the bailout plan’s approval, here’s one example: following up on a link to a 2004 UCLA press release, I found this paper: “New Deal Policies and the Persistence of the Great Depression: A General Equilibrium Analysis” Harold Cole …

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