#8 incomplete in that is does not deal with externalities. The market is not blessed but fallen like anything else humanity has made.
#9 True but not actionable
#11. Multi-lemma
DeLong’s supposed lacunae
1. Environmental destruction. Not conceptually important. Just one more externality to be addressed with Pigou taxation. Maybe DeLong should have asked Pigou to co-celebrate the Hayek-Polanyi union.
2. USSR as spur to the Hayek-Polanyi honeymoon? Quite probable but not as interesting a possibility as the much earlier disintegration of USSR, non-existence of Nazism/Fascism/Maoism had the US Fed not blundered the world into a Great Depression.
"Democrat party elites should embrace and partner with the resurgent social democratic left" because for the time being, there are no sensible potential allies on the Right. For now, we have to be Party and Loyal Opposition at the same time.
Turkis summary:
#3 Does DeLong say this? # 4-#6 do not imply #3
#8 incomplete in that is does not deal with externalities. The market is not blessed but fallen like anything else humanity has made.
#9 True but not actionable
#11. Multi-lemma
DeLong’s supposed lacunae
1. Environmental destruction. Not conceptually important. Just one more externality to be addressed with Pigou taxation. Maybe DeLong should have asked Pigou to co-celebrate the Hayek-Polanyi union.
2. USSR as spur to the Hayek-Polanyi honeymoon? Quite probable but not as interesting a possibility as the much earlier disintegration of USSR, non-existence of Nazism/Fascism/Maoism had the US Fed not blundered the world into a Great Depression.
3. Semantics
Agree, thanks to Turkis are in order.
I like my replies better than yours. 😊
"Democrat party elites should embrace and partner with the resurgent social democratic left" because for the time being, there are no sensible potential allies on the Right. For now, we have to be Party and Loyal Opposition at the same time.