Archive for the ‘economic intervention’ Category

“As news of the US economy worsens, worries about whether a stimulus could restart the economy are growing. Making matters more complicated is the fact that our 2009 fiscal deficit will exceed 8 per cent of gross domestic product, even before the stimulus.

What is clear is that tax cuts will not help much. When Barack Obama, president-elect, last week proposed to use nearly 40 per cent of the stimulus for tax cuts, he was rightly told this would be less effective than, say, spending on infrastructure. It has been surprising, then, to see President George W. Bush’s former economic advisers, including Greg Mankiw, argue that tax cuts are the way forward. (…)”

See here the entire article.

By Joseph Stiglitz, January 15 2009 19:48, FT.com

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” (…) If the human and social fallout from this crisis is to be minimised, ministers should stop trying to reflate the old free market, which isn’t working, and move to a new phase of economic intervention and control.”

Seumas Milne, The Guardian, Thursday 15 January 2009

The entire can be seen here.

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