A year of bad ideas

Jeff Madrick has a good post on the "10 Worst Economic Ideas of 2011" (see here, it is worth reading in full).  What does he say they are?  Well,


1. Taxes should be more regressive.

2. Austerity works.

3. Export growth models are sustainable.

4. Fannie and Freddie did it.

5. Cutting Social Security benefits is a priority.

6. Inflation is just around the corner.

7. The Medicare eligibility age should be raised.

8. Competition between Medicare and private health insurance will reform the health care system and reduce costs.

9. Federal spending should be capped at 21 percent of GDP.

10. Balancing the budget should involve equal parts tax hikes and government spending cuts.

I don't remember another time when ideas that have been discredited (and often) have gone on to become so widely embraced by people (and, particularly, the Republican party).  Maybe 2012 will be better.