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21 Dec 2008 09:27 pm
A Conservative of Doubt
Greg Mankiw isn't sold on the rapidly expanding stimulus plans of the president-elect:
In general, I think economists need a large dose of humility when
evaluating alternative proposals to deal with the current downturn, as there
is still a lot we do not understand.
I am sure I am not the only
person in the economics profession skeptical of spending increases to stimulate
the economy. See, for example, GMU economist Tyler
Cowen. If the new administration wanted to find more skeptics of stimulus
spending among professional economists, I could have come up with some possible
candidates for them, but the Obama economists probably already know who those
likely skeptics would be.
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