“The ideas of economists and political philosophers, both when they are right and when they are wrong, are more powerful than is commonly understood. Indeed the world is ruled by little else. Practical men, who believe themselves to be quite exempt from any intellectual influence, are usually the slaves of some defunct economist.” - John Maynard Keynes
Monday, March 2, 2009
CBO on Stimulus
I am not a huge fan of the stimulus. I think the range of programs is close, but that it should have been much larger. But, here is the CBO on the stimulus multiplier effects.
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