Fixing the Economic Stimulus

On Monday, two heavy hitters in economics weighed in on the economic crisis facing the United States (and the global economy more generally).  In an opinion piece published in the New York Times, Nobel Prize-winning economist Paul Krugman offered a powerful argument in favor of a Keynesian-style stimulus package.  In particular, he contends that because the Federal Funds rate is effectively at zero, the only real policy option remaining for the U.S. government is a fiscal stimulus package.  In an article writing for CNN, Nobel Prize-winning economist Joseph Stiglitz offers an equally powerful critique of the current discourse surrounding the economic stimulus packageBoth make powerful points in addressing the current crisis.  Hopefully, Geithner is listening.

 

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