observing the summers blanchard thing it seems like a lot of elites just become “i’m the person that always says x and i will find whatever justification to say x over and over because i’m the x guy”
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it might serve some social interest, it might not, but the important thing is to just keep repeating it until someone comes along who wants what you are selling
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Replying to @lionel_trolling
I don't think this is quite right. mid-Obama years both Summers and Blanchard turned against austerity, even wrote papers on it. now, I suspect, the class politics of it are coming back
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Replying to @lionel_trolling @ryanlcooper
You are wrong in this particular case (what is shocking about Blanchard and Summers is that they are, for no very good reason, completely flipping from the strong Keynesian stance they took in last decade) but you are right about underlying principle.
7:47 AM - 8 Feb 2021
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