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<oembed><version>1.0</version><provider_name>naked capitalism</provider_name><provider_url>https://www.nakedcapitalism.com</provider_url><author_name>Yves Smith</author_name><author_url>https://www.nakedcapitalism.com/author/yves-smith</author_url><title>Satyajit Das: Voodoo Economics Redux | naked capitalism</title><type>rich</type><width>600</width><height>338</height><html>&lt;blockquote class="wp-embedded-content" data-secret="RhELITb9Ph"&gt;&lt;a href="https://www.nakedcapitalism.com/2011/04/satyajit-das-voodoo-economics-redux.html"&gt;Satyajit Das: Voodoo Economics Redux&lt;/a&gt;&lt;/blockquote&gt;&lt;iframe sandbox="allow-scripts" security="restricted" src="https://www.nakedcapitalism.com/2011/04/satyajit-das-voodoo-economics-redux.html/embed#?secret=RhELITb9Ph" width="600" height="338" title="&#x201C;Satyajit Das: Voodoo Economics Redux&#x201D; &#x2014; naked capitalism" data-secret="RhELITb9Ph" frameborder="0" marginwidth="0" marginheight="0" scrolling="no" class="wp-embedded-content"&gt;&lt;/iframe&gt;&lt;script type="text/javascript"&gt;
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</html><description>n the film Ferris Bueller&#x2019;s Day Off, an economics teacher, played by Ben Stein, launches into an improvised soliloquy: "&#x2026; Anyone know what this is? Class? Anyone? Anyone? Anyone seen this before? The Laffer Curve. Anyone know what this says? It says that at this point on the revenue curve, you will get exactly the same amount of revenue as at this point. This is very controversial. Does anyone know what Vice President Bush called this in 1980? Anyone? Something-d-o-o economics. "Voodoo" economics."  In the late twentieth century, US President Ronald Reagan discovered voodoo economics. In framing policy responses to the global financial crisis, central bankers and governments have increasingly embraced more exotic forms of voodoo.</description></oembed>

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