Wednesday, June 17, 2009
How Stimulating Is Stimulus? Not very. (Sorry, Paul Krugman.)
There are a number of economists who strongly object to even the basic idea that government spending is a useful tool during this crisis. For example, 1995 Nobel Laureate Robert Lucas called multiplier estimates from Economy.com "schlock economics"; John Cochrane of the University of Chicago has called government spending stimulus "a fallacy"; Robert Barro of Harvard called one version of the American Recovery and Reinvestment Act (ARRA) "the worst bill that has been put forward since the 1930s..."
Forbes: How Stimulating Is Stimulus? Not very. (Sorry, Paul Krugman.)
Forbes: How Stimulating Is Stimulus? Not very. (Sorry, Paul Krugman.)
Permalink posted by markw @ 7:15 AM 
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