...are discussed by a notorious left-wing author in THE NATION. First, experts disagree on how much or even whether it worked before. Second, the problem of the early thirties was simple by comparison. People were broke and often jobless, but they usually weren’t in debt. Thanks to all the bankruptcies, lots of debt was just swept away, and the economy was a kind of tabula rasa. Today people, corporations, and governments are increasingly both broke and have mega-debt. Our author, with one historical piece of evidence, reminds us of the alternative of just allowig bankruptcy to run amok, eradicating all the debt, and starting over. He knows, of course, that the results today would be horrible, and that ain’t going to happen anyway. This article has the merit of reminding us that the bipartisan consensus--which includes lefty and many libertarian economists--on the huge stimulus package is a big-time Hail Mary pass.