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Tuesday, September 20, 2011

The most powerful AD denier of all

TheMoneyIllusion � The most powerful AD denier of all:

So for 200 year rapid productivity growth didn’t cause any serious unemployment problems in America, but now, right after NGDP collapses, we are to believe it is producing mass unemployment, even though recent productivity gains have been rather low.� I’m at a loss for words.� We elected a Luddite as President of the United States.

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