the dismal page

O.M.G. Is Summers a supply-sider?

Posted by admin on 11.18.08 12:05PM under the dismal page

Never mind that, as Mark Ames notes in this The Nation article, that Summers was a protégé of his dissertation advisor Martin Feldstein, the supply-side economist, and served on Ronald Reagan’s Council of Economic Advisors, but

Some fifteen years after Summers’s stint in the Reaganomics war room, he reappears as one of the key villains fighting to suppress the regulatory efforts of a top official, Brooksley Born, who was trying to call attention to the dangers of the unregulated derivatives, such as credit swap defaults, which today are considered the key to the current economic crisis.

Deregulation! That’s the ticket. What do you think? Anyone? Anyone?