When assessing any proposed fiscal stimulus, ask yourself the following questions:
1. Will more debt ruin my country and cause its economy to crumble or explode?
2. Is this project worth doing in its own right?
3. Will more than 53 percent or more of the expenditures come on-line in the next nine months?
4. Will the program actually target unemployed resources?
5. Has fiscal policy already acted to protect previously planned levels of state and local expenditure?
If the answer to #1 is no, proceed if you can either answer "yes" to #2 or if you can answer "yes" to #3-5 together. On related issues, here is a very good piece by Hall and Woodward.
Testing…
Thanks Grant, I have corrected…
I haven’t heard this one, but considering I thought of 30 seconds ago maybe it’s not great.
How ’bout building homes in New Orleans, using Hurriquake nails and many, many concrete pillars of course.
That’s an excellent check list.
Hall and Woodward are well worth reading. They are very smart and we could do worse than simply following their advice to the letter.
Of course, a corollary of my 10:24 point, if it is one, is that temporary sunsetted fiscal stimulus will not have as large a stimulus effect as relatively permanent committments.
Why does Keynes think that the assumptions of classical economics fail to apply under conditions of less-than-full employment when they apply under conditions of full employment? I don’t understand the argument.
I think the thought is this: (1) The economy gets into a state of uncertainty (not risk), (2) this causes people with a high propensity to save to hoard/save rather than consume or spend, (3) this causes the level of interest necessary to attract investment high, (4) the higher level of interest requires that capital make more profits, (5) but under the conditions they have to cut back production to make returns to a smaller number of investors and this involves laying workers off, (6) which in turn creates involuntary unemployment (sticky nominal wages, efficiency wage theory, etc. all help to create the conditions in step 6, right?).
So it’s not the following: IF more than full unemployment, THEN the assumptions of classical economics don’t apply – as if this were a CAUSAL explanation. It’s just a correlation. The assumptions of classical economics stop applying because conditions of UNCERTAINTY somehow suspend them. Is this the idea? That classical economic assumptions only apply when people can take rational risks, i.e. they have some idea of the probabilities of certain outcomes?
The plan could work… precisely because so few projects are “shovel ready.”
What we’re seeing is a service sector recessiion, led by the financial sector. Lots of people with financial analysis skills out of work, along with their support staff. Let’s put the financial whizzes to work figuring out whether or not the projects are actually worthwile. Hopefully, these geniuses will do a better job than they did with mortgage securities. Whether they do or no, it will keep them and the rest of the service sector busy for a year.
By then, either the recession will be over, or it won’t matter.
Real economic growth takes time. We need to focus on buiding infrastructure and increasing productivity/improving efficiency. Lowering the cost of doing business.
You’re not lowering the cost of doing business. You’re shifting it to the taxpayer. Worse yet, the taxpayers will either pay interest on it forever or suffer inflation for it. TANSTAAFL, man.
Thanks for such a great post and the review, I am totally impressed! Keep stuff like this coming.
ths for share
You will find so many suprises if you choose Perfect Emboridery Digitizing, http://www.perfect-digitizing.com, or contact digitizing@perfect-digitizing.com to learn more.
Jordan shoes are popular in our life,we have many kinds of Jordan shoes,The Jordan shoes are very beautiful and fashion,if you want to buy shoes,Jordan shoes is a good choice
You can tell from the lines on her Abercrombie And Fitch face You can see that she’s been there Probably been moved on from every place
Dongguan Perfect watch parts company established in 1998,With 12 years of experience specializing in manufacturing watch accessories and precise watch parts. We provide different types of products, varied from Pumpkin watch Crowns, Special Pusher, 10 ATM Screw Crowns and elegant watch buttons like built-in blue precious stones,watch case,watch backs,watch tubes,watch screws,watch diael,etc.
Fore more details,pls feel free visit our website
http://www.perfectwatchparts.com
Tks a lot!
The Chamberlain showed the two weavers to a large airy room Nike Air Jordan
and they set to work. They asked for a loom, and a sack of gold to start buying materials.
Finally, the Emperor could stand it no more. “Chamberlain, go to the weavers and see how the cloth isAbercrombie and Fitch
processing. The parade is only a week way.” The Chamberlain knocked at the door and waited. “Enter!” said the weavers.
Mechanics. The 2 articles were announced by Air Force Nike
ARXIV.ORG when ARXIV.ORG was relatively close.
if you would go up high, then use your own legs!Louboutin Shoes Do not let yourselves carried aloft; do not seat yourselves on other people’s backs and heads.
Where there is a will, there is a road.
http://www.btob1688.com/
http://brandbagonline.livejournal.com/
http://luxurygathering.livejournal.com/
Although I Antique Oil Paintings
would’ve preferred if you went into a little bit more detail, I still got the gist of what you meant. Will definitely come back for more of this. Great work
As we all know, The medical tool shape rubber shape rubber bandz include 6 shapes and 6 colors silly bandz now is the best selling goods in every store all over the US country, and also selling well through network.
alleged that this series is inspired by Marie Antoinette,including yellow,pink and blue velvet and other fashion elements.Fashion and beauty,are you ready for these shoes crazy?Whether it is more diverse,personalized dramatic and footwear design,or attract more and more focus on the red carpet that is no longer used shoes,clothing designers mixed project.They need to wear,regardless of their feelings,to cope with,even the most intensive model of alternating buy christian louboutin shoes.
many of the stolen goods,they expect customization and programs,such as they are obviously referring to are required to wear with tights or trousers rolled up in the weight loss,so that the whole shoes display.Also is a beautiful gray suede is flexible multi – occasions,using a variety of appropriate colors,including the all important season’ss berry tones.Hidden in the shoes of the platform to allow for more detailed louboutin sale,height without breaking the shoes clean lines,to make it more expensive for you truly.Which only mean one thing: a place where you want to buy so that I can live vicariously.
no follow is so bad for the seoer,so how they avoid the tags and create new way to send inbound links in the future
I have been trying to Gain access to this site for a while. I was using IE7 then when I tried Firefox, it worked just fine? Just wanted to bring this to your attention. This is really a greatblog. I have a few myself. I really love your layout. I know this is off topic but,did you make this theme yourself,or purchaseED Hardy
from somewhere?
The first day I met you
We have been dating for three years since the first day we met each other. Although time past so fast, I still remember the day I met you.
I was walking down street alone, and you were riding a bike go through. You looked so happy and there was a big smile on your face. Suddenly, I also began to feel good, maybe for your smile. I have never seen such sunshine smile before. I stopped walking and watched you to leave. I kept on walking, but was very happy. I came in a jewelry store and just watched around. To my surprise, I found you also in the same store and picked a pendant. I walked towards you intentionally and found the one you pick was much like the one I saw in the internet. A pendant with Pandora chain and pandora charms . It was so cool. I saw you buy it and was about to leave. I went after you and said hello to you, even now I still have no idea where is the courage. You looked at me and said hello, too. Just to be polite, I think.
This is the first day I met you, but I bet you don’t remember these, for these are all my own imagination, and had never existed. It’s just in my mind and you will never know. But it’s just as well. It only belongs to me, my own memory. Just like the pandora charms.
As a perfectionist, she is always strict with herself. No matter what she Nothing better
does, she will try her best. But we also know, there is something that no matter how hard we try, we can’t do it well.
So she is very upset and begins to lose faith to herself. She has no idea about doing it well, when she meets something new. She even has no courage to face it. She is always trying to escaping. But she also knows it’s no good.
After college graduation, she came into the fashion world by accident. She has knew nothing about it before, now all is new to her. She does not know how to do with the job-stylist. Every day she looks at those clothes and accessories a trance. She is a normal girl and not interested in such things.
One day, when she stared at these things, she suddenly found a pandora beads Pandora bracelet was very simple but very beautiful. She picked it up and put it on her wrist, it looked very fantastic. There was a good idea in her mind. Using some pandora beads Pandora beads, she made a DIY bracelet which fit the model well. She also used the pandora beads Pandora charms to make the amazing chain. She was praised by her boss and recouped confidence.
Now she is the fashion advisor in the industry of fashion. Nothing is better than the self-confidence. We all should trust us.
I’m missing you
In the quiet night, bathe in the romantic music, to tell you what I want to said in my heart but never said before, may I?
Night is so quite, the only thing that cannt be quiet is my missing you heart. I don’t know why I am so missing you？not at the moment you send the pandora beads to me.
But thousands of words, in one word: It’s really nice to know you.
Why have I met you out of the 7 billion people in the world, is this what we call destiny? We met each other when we choose the pandora bracelet in the store.
I cannot say that clearly. The only thing that I know is you have a unique instincts attracted me let me to cherish.
Many feeling cannot express by words, this is happened to me.
So I only can use the common saying to express my feeling† I really really like you and miss you.
I want to give you more and more, but I also ask myself† what I want to give you is what you lack, you need? Will you accept?
Yes, expect love miss care thoughtfulness cherish, it seem there is nothing more to give you, so I am ashamed.
But I think I should cherish you and cherish your everything.I cherish that chance that we choose the pandora charms I asked why, later I explain to myself: I must owe you a debt of predestinated love, now it will arrive deadline, I should return to you.
So I always have a expect, an unexpressed feeling, I am really missing you. Are you missing me too?
Find a trustful website to buy sports shoes
Nowdays if you search “http://www.ajfshoes.com“> sports shoes † by google, so many website will be serchefored.You must be dazzled and don’t kown which website is suitable for you. I was in the same situation with you before,but now,I become a regular visitor to this website http://www.ajfshoes.com
There are many kinds of http://www.ajfshoes.com“> sports shoes to choose and also have many other products like http://www.ajfshoes.com/listProduct.asp?categorieId=138“> men T-shirt handbags ,http://http://www.ajfshoes.com/listProduct.asp?categorieId=293“>jacket and so on that you can buy together
Their quanlity is good enough and the price is low.when you make an order from them,it only takes about 7 days for you to get them in hand.and their servicer is very sweety and answer your question quickly
Wish you will have a good shopping experience as mine there
Thanks for sharing
I like it
nice post
Comments on this entry are closed.