Look: I am eager to learn stuff I don't know--which requires actively courting and posting smart disagreement.

But as you will understand, I don't like to post things that mischaracterize and are aimed to mislead.

-- Brad Delong

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Tuesday, July 6, 2010

Idle Money

I read somewhere in the early naughts that corporations were sitting on record piles of cash - hoarding rather than investing or hiring.   I can't say that this has or hasn't been a constant over the decade*, but I've suspected for quite a while that this is the case now - either still or again.

Krugman confirms my suspicion, and even suggests a remedy.

He didn't even mention that the Gov't could borrow now at historically low rates - but I guess that does go without saying.

* If anyone knows how to track down this information, I'd be grateful to know about it.

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