Mission Not Accomplished but…
October 4th, 2009 by Al Lewis (alewis)Paul Krugman has it right that hard times are far from over. But his solution — more government spending — is more indication of the “Methadone Economy” approach in which we try to come down from our 2005-2007 heroin high (the “heroin” being the housinng bubble) with the Methadone of stilumus spending. The approach of the government has been bailouts and bribes (cash for clunkers and first-time home buyer credits, to name two).
OOBonomics is about weaning off methadone altogether with creative ways to make the economy more efficient, rather than just spending more. Order the book for examples of those ideas.
Tags: economic growth, Stimulus spending