Conservative-ish newsweekly The Economist offers an overview of Generally Agreed Upon Macroeconomic Policy Truths.
BECAUSE it is always a good time to relitigate America's fiscal stimulus, the blogosphere has spent the past week or so relitigating America's fiscal stimulus. Rather than plunge headlong into the fray, I'll attempt to distill some fiscal policy truths that should be reasonably acceptable to most participants.
Now I have little doubt that the internet will quickly disabuse me of the notion that these are things to which most economists can agree. But it sure seems to me that these are things to which most economists should be able to agree.
They list seventeen points. I think left-leaning economists might quibble over the last few points, but it's striking how it offers an awfully neo-Keynesian overall picture. Yet you would never know this from our mainstream news media.