Here's a thoughtful analysis by one of Greg Mankiw's friends in the White House about the virtues of the first stimulus package versus the possibility of a second. The great thing about this note is that it is filled with economic principles put to use in the real world.
Note the interesting co-operation between sound economics and politics. No matter what, politics comes into play. This is what happens when folks who know nothing about economics insert themselves into a purely economic scenario.
It's kind of like people, other than your doctor, telling you how to treat your heart condition -- people like those employed by insurance companies. That's stupid, too, and we would NOT dare allow that! (Now that's sarcasm!)
Greg Mankiw's Blog: The View from the White House
Note the interesting co-operation between sound economics and politics. No matter what, politics comes into play. This is what happens when folks who know nothing about economics insert themselves into a purely economic scenario.
It's kind of like people, other than your doctor, telling you how to treat your heart condition -- people like those employed by insurance companies. That's stupid, too, and we would NOT dare allow that! (Now that's sarcasm!)
Greg Mankiw's Blog: The View from the White House
0 comments
Post a Comment