Here's a bit of real world data to keep in mind when you hear Krugmanites tout Federal spending as an economic stimulus:
Big spending is another economy-killer. A recent OECD study noted that for every percentage point increase in spending among the nations studied, per capita GDP fell by 0.3% and investment by as much as 0.4%. So more government "stimulus" cures nothing.
2 comments:
Sorry, but I have to mention that ECT is a completely valid, well-established, commonly used treatment for severe psychiatric problems. The way pop culture portrays ECT is a complete fraud which leads people to think it's some kind of barbaric torture, but it's not. It can be an effective treatment in otherwise hopeless cases and 1 million people use it every year.
I stand corrected about it being universally discredited.
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