Quick Thoughts on Taylor Versus Summers et al

Stanford Professor and former Bush administration economist John Taylor is taking strong exception to the secular stagnation argument being put forward by Larry Summers, Paul Krugman, and right-thinking economists everywhere. His alternative explanation for an unusually weak recovery and a decade of poor growth is excessively expansionary monetary policy and policy uncertainty due to items like the Affordable Care Act and Dodd-Frank. Both of these lines of argument are a bit hard to follow.

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