And bloody Cokey says – “but what you both are saying is the same thing”???

NOOOOO! Cokey! What Krugman is saying is that FDR introduced RULES that had largely been circumvented within the financial markets after a decade of Republican demands that “laissez-faire” speculation be allowed back into the market. And that in a state of national emergency Roosevelt was convinced to apply Keynesian economic models to bring the nation back. It was only when he prematurely shifted from this model, that the economy dipped again.

Will is an idiot. Thank goodness for Paul.

Thanks Ian.

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Sure Krugman just won a Nobel Prize on economics, but the important question is what is Cokie’s take?