We Are All Neo -Neo -Keynsians Now

I was reading yet another economist's bromide for fixing the economy. His three part solution included: 1) growing US productivity and innovation at home rather than relying upon outsourcing; 2) moving beyond financial "innovations" and producing real products we can sell at home and abroad, and 3) a fiscal stimulus plan aimed at funding infrastructure education and innovation rather than consumer spending.

The source of such left wing snake oil? Businessweek.

To be fair, I am sure the author of this particular article, Michael Mandel, has been consistently advocating these types of changes for a while. A lot of economists and policy makers have. But their ideas were drowned out by the din of Wall Street lobbysist and conservative think tanks. The sad thing about our current economic debacle is not that there was no one to predict it and no one to suggest a change of course. There was. We just did not listen.