Article Review #1

Overall, while reading the "Why The Keynesian Chorus Is Cackling Like Chicken Little" article, I was extremely confused. I was unfamiliar with many of the concepts and ideas that David Stockman discussed in the  article, and this led to a lot of confusion for me the first time I read through it. However, upon reading it another time through I looked definitions and info about many of the concepts that Stockman addressed and it made my understanding of the article a lot more clear. First, I looked up who David Stockman was for context on what some of his positions and views might be. I learned that he is a former business man/politician, was the Republican U.S. Representative for Michigan (1977-1981), as well as the Director of Office of Management and Budget under Reagan. Knowing that he was a Republican politician gave me an idea on what his stance might be on many economic issues in the U.S., as most politicians within a certain political party have similar views on key issues. I was surprised to find while reading the article that his tone while writing was extremely aggressive. The article was very opinionated and was filled with his own personal views. I was surprised to find this only because I went into reading it expecting a strictly informative article about economics. A few of the things I was very confused about in the article, even after looking them up, were the terms “free money is actually tight money” (an opinion Stockman does not agree with) and the term “auto loop” from the sentence “the Goldman index consists of financial variables that are so powerfully influenced by Fed policy that they comprise the next closest thing to an auto loop.” Even after looking these ideas up I was not able to understand them or find any explanation of them.