Monday, November 30, 2009

the curse of Cassandra

It's never easy being Cassandra

What I said in July 2008:
The US government will have to do two things to fix the coming world-wide economic crisis - create a jobs program, as it did during the Great Depression, and put a cap on the interest rates charged by credit card companies.

What Paul Krugman said today:
Meanwhile, the federal government could provide jobs by ... providing jobs. It’s time for at least a small-scale version of the New Deal’s Works Progress Administration, one that would offer relatively low-paying (but much better than nothing) public-service employment.

Not that I'm accusing Krugman of not listening to me - my understanding of economics is hugely influenced by him in the first place. No - Krugman is a Cassandra too, although as a NYTimes columnist and a Nobel Prize winner, he is occasionally listened to - and I wish he had made a point of talking about jobs programs sooner.