Saturday, February 07, 2009

Was Keynes Right?

Who knows, but we are about to become a one trillion dollar experiment:

Fact and Fiction on the Stimulus Package | Newsweek Voices - Michael Hirsh
After two weeks of debate in Washington over the stimulus, we now know we have 100 economists in the Senate and 435 in the House. Not to mention the great economic minds that, all of a sudden, it seems, constitute most of the punditocracy and the blogosphere. Some of these people—most, I would say—are pretty certain some sort of stimulus is necessary. Others are convinced that a "Keynesian" approach to government intervention is just the latest version of voodoo economics. Some actually believe it will lead to a catastrophe worse than the one we're in. The question is, what is the truth? Is there, in fact, a truth about this debate?

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