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07 Dec 2008 08:06 pm
Fixing The Economy By Screwing In Light Bulbs
By Patrick Appel
Tyler Cowen analyzes parts of Obama's fiscal stimulus plan:
When it comes to fiscal policy, many projects are not very good. Most projects take a long time to come on-line. The fiscal stimulus should, most of all, be directed at an effective marginal incentive scheme to keep up state and local spending. I am still enthusiastic about Obama's economic team, but I am starting to worry a little. How many of these expenditures actually help needy people? How many actually will help the economy? In fairness to Obama this was a radio address, and thus hardly the setting for meaty analysis, but still I am a little underwhelmed.
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