Thank goodness someone of the stature and sophistication of John K. Galbraith is identifying the terrible short fall of the current plans for an economic recovery. Although he is not yet familiar with our program, he has essentially identified and is calling for a Monetary Policy as set forth by The Prosperity Mandate.
Read his article at:
http://www.washingtonmonthly.com/features/2009/0903.galbraith.html
and then take action on this site to ask your President, Senator, and Representative to study the Monetary Policy for a sustainable and renewable economic recovery.
Except from his excellent article:
Barack Obama’s presidency began in hope and goodwill, but its test will be its success or failure on the economics. Did the president and his team correctly diagnose the problem? Did they act with sufficient imagination and force? And did they prevail against the political obstacles—and not only that, but also against the procedures and the habits of thought to which official Washington is addicted?
The president has an economic program. But there is, so far, no clear statement of the thinking behind that program, and there may not be one, until the first report of the new Council of Economic Advisers appears next year. We therefore resort to what we know about the economists: the chair of the National Economic Council, Lawrence Summers; the CEA chair, Christina Romer; the budget director, Peter Orszag; and their titular head, Treasury Secretary Timothy Geithner. This is plainly a capable, close-knit group, acting with energy and commitment. Deficiencies of their program cannot, therefore, be blamed on incompetence. Rather, if deficiencies exist, they probably result from their shared background and creed—in short, from the limitations of their ideas.
Tags: Economic Recovery, economic stimulus, John Kenneth Galbraith, new monetary policy, recovery plan
