Wasn't aware that Kelton and Black had gravitated to the U of M- she full time, him part.
Maybe they're the ones who put the funny stuff in the water that Kocherlakota and Kashkari imbibed.
"For the record, in case you’re curious, I’m not tied to Professor Friedman in any way. But the powerful – such as Paul and yourselves – should be careful where you step.
Let’s turn, finally, to the serious question. What does the Friedman paper really show? The answer is quite simple, and the exercise is – while not perfect – almost entirely ordinary.
What the Friedman paper shows, is that under conventional assumptions, the projected impact of Senator Sanders’ proposals stems from their scale and ambition. When you dare to do big things, big results should be expected. The Sanders program is big, and when you run it through a standard model, you get a big result.
That, by the way, is the lesson of the Reagan era – like it or not. It is a lesson that, among today’s political leaders, only Senator Sanders has learned."