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A Serious Difference

by Amity Shlaes
December 1, 2008

Over the weekend Dr. Krugman blogged some more about the shortcomings of my analysis of Keynesianism. He was responding to a WSJ piece by me.  Simon Constable of Dow Jones is making a video editorial today too.

The real issue is whether the stimulus will stimulate enough to offset whatever damage it  does and whatever other activity it precludes. My friend Bruce Bartlett had a strong piece in the New York Times about how stimuli are almost always late.  The story was the same from November, 1948, on. In that instance, the stimulus was enacted the same month in 1949 that the recession ended.

1 Comment

  • Posted by Peter Buxton

    Speaking of late stimuli, over here at Stimulus Watch you can see my criticism of the $62.5 million that will “create” exactly 852 jobs.

    Which is truly evidence that Barack is the Redeemer as foretold by His prophet Krugman, as that section of road was completed in 2008. In other words, his eco-fu is so strong that Barack creates jobs retroactively.