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Thomas F. Cooley and Peter Rupert
The bloviators of the blogosphere have been in full roar the past few weeks over the claimed success of the economic stimulus program. Much of this was ignited by Christina Romer, chair of the President's Council of Economic Advisors, in a speech addressing the question of whether the stimulus was working--and concluding that it was, "absolutely."
Richard Posner blogged that Romer's speech was implausible and irresponsible (and also took the opportunity to trash macroeconomists who study business cycles). Posner, in turn, was subjected to a vitriolic barrage from some of the least pleasant voices in the blogosphere. That people should think before they hit the "post" button is a discussion for another forum.
Economists don't play well together. That is well-known. But this discussion has tipped over into the realm of the ridiculous. Most of it makes no logical sense and it doesn't appeal to the data that one could use to try to address it.
The Stimulus Is Definitely Working?! - Forbes.com
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