Good article the other day by Thomas Sowell on the financial crisis. He begins: From television specials to newspaper editorials, the media are pushing the idea that current economic problems were caused by the market and that only the government can rescue us. What was lacking in the housing market, they say, was government regulation […]
Archives for February 2009
Reaganomics vs. Obamanomics
Peter Ferrara had an excellent article in yesterday’s Wall Street Journal contrasting Reagan’s and Obama’s economic policies. Here are the key points of the article. In his inaugural address, President Barack Obama said, “The question we ask today is not whether our government is too big or too small, but whether it works — whether […]
Is Government Spending the Answer to an Economic Downturn?
Keynesian economics — which dominated economic thought for a decent chunk of last century — said yes. Other schools of economic thought — which I find more plausible — do not think so. Gregory Mankiw had a good, brief discussion in the NY Times last month of how there is ample reason to doubt that […]