I generally like Tyler Cowen. He has some heterodox views that make him interesting to read and he often focuses on areas that most other economists overlook. However, it is clear that over the past 2 years he has come to support the demand side view of the current recession and seems to broadly favor Scott Sumner/Matt Yglesias/Ryan Avent style monetary policy.
His post today expresses some of his reservations but notes that higher inflation wouldn't be so bad. Great! However, as Noah Smith tweeted, we need more of this type of advocacy in places like the NYT, WSJ and on network TV. Cowen is not thought of as being a political partisan, so unlike Krugman his opinions could actually influence conservative thinkers and push the median economist towards greater support for a more expansionary monetary policy. As a public intellectual during the largest economic recession in 65 years he should do this. Long term technological slowdown in America and the slowing of the Indian economy are important topics but i'd prefer to see him focus on areas where his (well regarded) opinion can really influence policy change for the better. Right now that's monetary policy.
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