DeLong on C-SPAN

Brad DeLong spoke on C-SPAN yesterday - I'm two-thirds through it as I post this, and so far it's very good - not surprising, given the interviewee. He has a great discussion at the beginning broadening the monetary disequilibrium approach. I think this is important - there's quite a broad audience that embraces a more general monetary disequilibrium approach. Essentially everyone believes the quantity theory of money, and once it dawns on you that the quantity theory is an accounting identity rather than a behavioral law there's really nothing standing between you and monetary disequilibrium. The same logic applies to excess demand for bonds, for safe assets, etc. - and that's where DeLong comes in.

Towars the end he also talks about worries about technological unemployment.