Monday, February 23, 2009

The stimulus and repeating history.

A couple of excellent pieces from Jeff Frankels: Is $800 Billion too much or too little? Jeff says Yes. It depends on what you're trying to accomplish. And, might this recession look like the Great Depression? We've learned a number of lessons from that catastrophe, I think (regardless of the disagreement over just what happened).

Jeff brings up a couple of points I've been talking about, but Jeff makes the points much better than I can.

(h/t Andrew Cassel at the Dismal Scientist)

The other Jeff--economics rockstar Jeffrey Sachs--also weighs in on the issue. He brings up the good point that we shouldn't go for wild swings in the economy. We shouldn't shock our economy into short-term recovery at the expense of long-term growth.

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