Is Fiscal Stimulus Pointless?
The Harvard economist Robert Barro, writing in The Wall Street Journal, recently made an intelligent argument against America’s fiscal stimulus. But Barro misreads how his own evidence applies to the current situation in the US, and he wrongly dismisses the importance of the timing of government borrowing.
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The Harvard economist Robert Barro, writing in The Wall Street Journal , recently made an intelligent argument against America’s fiscal stimulus. After wading through the drivel of ethics-free Republican hacks and knowledge-free academic hacks who claim, one way or another, that the basic principles of economics make it impossible for government spending decisions to alter the flow of economic activity, reading Barro comes as a great relief.