Robert Shiller

This article is a contribution to 'Is There Anything That Can Be Done? A TNR Symposium On The Economy.' Click here to read other contributions to the series. There are two facts about our current economic situation that can no longer be denied: Our economy is in desperate need of government stimulus, and our political system won’t abide any increase in our national deficit. Taken together, the two points seem to bode poorly for the United States. But we shouldn’t be too quick to assume a contradiction.

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