Economics: Roger E.A. Farmer Throws A Turd Inwards The Punch Bowl

I may survive mixing my metaphors here.
Or mayhap not.

From Project Syndicate, September 4:

Secular Stagnation Revisited

The correct agency to answer to financial crises is non alongside expansionary fiscal policy, but with policies that restore the value of individual assets. And the correct agency to forestall financial crises inwards the outset house is to intervene inwards the financial markets to moderate swings inwards property values in addition to to caput off recessions earlier they happen.

WARWICK – The populace spat betwixt Nobel laureate Joseph Stiglitz in addition to onetime the U.S. Treasury Secretary Larry Summers is remarkable for the personal animosity that it reveals betwixt 2 economists who essentially concord close the economics. Stiglitz levels a not-so-subtle assail on Summers for failing to insist on a larger financial deficit when he ran the National Economic Council nether the Obama presidency. Summers responds that the politics made a larger financial stimulus infeasible. But piece they concord that the Great Recession could convey been overcome alongside a large financial stimulus, neither has set out the economical model that underpins their confidence inwards this outcome.

Summers reinvigorated the move of Alvin Hansen, who introduced the concept of secular stagnation inwards the 1930s. But I convey non seen Summers lay out a fully articulated dynamic full general equilibrium model that supports his advice. And inwards his written move on this topic, he has seamlessly shifted betwixt a Definition of secular stagnation that involves permanently a 2010 post, the writer of Against the Gods-The Remarkable Story of Risk complimenting  Boston University's main of pension finance in addition to pension economics:

William Bernstein (No slouch either, M.D. Neurologist, PhD. Chemistry, dabbler inwards Modern Portfolio Theory, bestselling author, etc.) inwards i of his Efficient Frontier pieces, "Zvi Bodie in addition to the Keynes’ Paradox of Thrift" described the professor as: 

"Academician, raconteur, in addition to all-around proficient guy Zvi Bodie...".

Then he rips his lungs out. Very typical inwards the academy:...