The Public Has No Idea That The

Europe Is Often Held Up As A Cautionary Tale, A Demonstration That If You Try To Make The Economy Less Brutal, To Take Better Care Of Your Fellow Citizens When They're Down On Their Luck, You End Up Killing Economic Progress. But What European Experience Actually Demonstrates Is The Opposite: Social Justice And Progress Can Go Hand In Hand.

Consumer Spending Is Now Plunging At Serious-recession Rate ... Even If The Rescue Now In Train Succeeds In Unfreezing Credit Markets, The Real Economy Has Immense Downward Momentum. In Addition To Financial Rescues, We Need Major Stimulus Programs.

The Growth Of The Internet Will Slow Drastically, As The Flaw In 'metcalfe's Law'–which States That The Number Of Potential Connections In A Network Is Proportional To The Square Of The Number Of Participants–becomes Apparent: Most People Have Nothing To Say To Each Other! By 2005 Or So, It Will Become Clear That The Internet's Impact On The Economy Has Been No Greater Than The Fax Machine's.

These Days, However, The Main Problem Comes From The Right - From Conservatives Who, Unlike Most Economists, Really Do Think That The Free Market Is Always Right - To Such An Extent That They Refuse To Believe Even The Most Overwhelming Scientific Evidence If It Seems To Suggest A Justification For Government Action.

When The Fed Decides That Inflation Is Too High, They Have The Tools, And They've Shown Historically That They Have The Will, To Bring It Down. And, It Might Be Painful.