• Matt Klein: "Slouching Towards Utopia" and "The Long 20th Century": ‘Brad Delong's new history makes an important point well, and gave me a lot of food for thought. But I have some quibbles: Certain moments are decisive breaks between “before” and “after”: think of the invention of agriculture, the birth of monotheism, the Columbian exchange, or the American Revolution. In
"[about 2008-2020] “we had forgotten the Keynesian lessons of the 1930s"
No, we had forgotten Freidman-Schwartz lessons of the 1930. :)
Inflation expectations seldom reached and never remained at 2.3% pa. That was Bernanke-Yellen's fault, not Obama, not even House Republicans.