Zeev's Turnips Talk Politics (ZTTP)

[BullNBear52]

Economists come from 2 basic schools of thought, Keynes and Friedman and as a side light Chicago.

The first two are equally right depending on the economic circumstances at the time.

What is interesting is that Krugman who writes for the NYTs is a Keynesian when it comes to stimulus but takes a Friedman stance when it comes to the banks.

Mind you neither school advocates socialism. And Obama doesn't have a socialist/Marxist on his economic team. He has surrounded himself with Keynesians and a smattering of Chicago.

Economic theory is like Philosophy. You can argue all day long how Descartes decided that because he thinks he is.

The question at the end is which one works for you.