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Keynes the Destroyer
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Issue Analysis

Keynes the Destroyer

          Claude Frédéric Bastiat was a nineteenth century French political and economic philosopher.  In his famous work titled That Which is Seen and That Which is Unseen, Bastiat sets up the parable of the broken window.  The lesson of the parable is that the destruction of capital only hurts economic growth instead of he

05/19/2011
Keynesian Bubble Reinflation
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Blog

Keynesian Bubble Reinflation

Mario Rizzo at NYU has a great article has a great article in this issue of the Freeman explaining how Keynesian stimulus packages can't restore confidence to an economy.  He argues that in order to restore confidence in the market, which Secretary Geithner has claimed is the goal, we have to fix the causes of the problem rather than the symptoms.  A stimulus package does not correct, even in Keynesian terms, the "collective irrationality" that lead to a housing bubble in the first place.  

04/07/2009
Why Are You REALLY Opposed to the Stimulus?
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Blog

Why Are You REALLY Opposed to the Stimulus?

Opening my public policy class last night, the professor brought up an interesting question regarding the "stimulus" package: what seems to be the public's response and why are they reacting that way? My interaction with the public and perusal of media sources seems to indicate that there are many Americans discontent with this debt plan and the reasons vary.

02/20/2009
Why Pork and not Economics?
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Blog

Why Pork and not Economics?

Many of those who have been criticizing Obama's stimulus package have been arguing that it's filled with pork that won't create jobs or help to end the recession.  That's true.  But, the really important issue with the stimulus is that it just won't work and I'd like to hear a lot more about that from the media.  

01/30/2009