Econoblog, Arnold Kling vs. Brad DeLong, excerpt:
The New Deal is a mythical event in history. Just as we revere the
constitution as the basis for our government and we revere Abraham
Lincoln for ending slavery and preserving the union, we are supposed to
revere the New Deal as somehow providing the basis for our modern
prosperity. Yet the policies of the New Deal are quite a mixed bag, to
say the least. Most were discarded by 1950. The survivors include
agricultural policies that were almost certainly wrong then and are
almost certainly wrong now. Most of the financial regulations, such as
interest rate ceilings on bank deposits, proved unworkable by the
1970s. Social Security, and its offspring Medicare, are going to be the
next great financial crisis in this country.
Can you guess which of the two wrote that?