WHERE KEYNES WENT WRONG
Published on The Weekly Standard (http://www.weeklystandard.com) What if government spending depresses instead of stimulates? Charles Wolf Jr. November 7, 2011, Vol. 17, No. 08 EXCERPT FROM THIS ARTICLE: Keynes assumed that the initial deficient level of aggregate demand would remain unchanged until the stimulative (“pump-priming”) effect of additional government spending kicked in. In other words, […]
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