Is Government Making the Economy Worse?


	Is Government Making the Economy Worse?

mepstein

10-13-2009 5:43 PM

47 views

tags:

economy, government, politics, partisanship, left, right, ypnation

mepstein says:

Good debate. Maybe getting a little personal.

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<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/c9e6dc62-039b-454a-ac97-6a1a998933fb/9CA4C298-9661-4B8F-9328-F2255A09CB0F/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://www.ypnation.net/blogs/government-making-it-worse-evidence-says-no" href="http://www.ypnation.net/blogs/government-making-it-worse-evidence-says-no" style="font-size: 11px;">www.ypnation.net</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.ypnation.net/blogs/government-making-it-worse-evidence-says-no"><H2>Is Government Making it Worse? The Evidence Says No</H2></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.ypnation.net/blogs/government-making-it-worse-evidence-says-no"><div align="center"><img src="http://content7.clipmarks.com/blog_cache/www.ypnation.net/img/A140C4CE-D23A-4166-B1FD-EEAA7982BB40" alt="" /></div></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.ypnation.net/blogs/government-making-it-worse-evidence-says-no"><DIV>I appreciate Ewan’s <A target="_blank" href="http://www.ypnation.net/blogs/we-need-fiscal-credibility-not-fiscal-stimulus">response</A> to my last <A target="_blank" href="http://www.ypnation.net/blogs/primer-our-burning-economy">post</A> on how recessions are like fires that must be put out. But his post has left me confused, and—I’m sorry to say—more convinced that ideological opponents to fiscal stimulus are economic nihilists. Maybe ‘nihilists’ is too strong a word. Let’s go with fatalists.</DIV></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.ypnation.net/blogs/government-making-it-worse-evidence-says-no"><DIV>
I call this anti-stimulus position economic fatalism because it holds that the government is incapable of mitigating the length and severity of recessions. Ewan seems to support this view. In fact, he states that government actions only exacerbate recessions, and that it should get out of the way by cutting spending. Essentially he is saying that government should shrink itself, and we’ll just cross our fingers that the private markets will pick themselves up again.</DIV></blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;">&nbsp;</td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/9CA4C298-9661-4B8F-9328-F2255A09CB0F/blog/" title="blog or email this clip"><img src="http://content8.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>

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