You would think the situation might call for a revisiting of conventional notions, a moment of introspection, an admission that perhaps past advice may have been not entirely of the finest caliber.
You might think so but, well, no.
David Leonhardt, in an unusually early preview of this week’s New York Times Magazine:
But while Washington has been preoccupied with stimulus and bailouts, another, equally important issue has received far less attention — and the resolution of it is far more uncertain. [more]