As I’ve already pointed out,the prospect of a Keynesian stimulus is having a weird effect on conservative economists, as first-rate economists keep making truly boneheaded arguments against the effort.
The latest entry: Robert Barro argues that the multiplier on government spending is low because real GDP during World War II rose by less than military spending.
Thursday, January 22, 2009
For Wonks Only
Krugman tells you. Stay away from most other sources on this subject.
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