Left Outside

I, for one, would welcome this technocratic overlord

First, stimulus. Mr Osborne has been boasting of his plans to reduce taxes and spending simultaneously. This is precisely the opposite of what is required at a time of weak aggregate demand, and every bit as foolish as when Gordon Brown increased both taxes and spending in a boom. I will unveil a package of spending on roads, railways, primary schools in oversubscribed areas and social housing. In many cases this will simply mean implementing pre-existing plans, so the building work can start without delay. By utilising spare resources in the economy, this plan will stimulate demand and provide urgently needed infrastructure at a low cost to the wider economy. On the “stitch in time” principle it will also reduce the total need for public spending over the next decade and beyond.

More at the FT from Tim Harford.

About these ads

Filed under: Blogging

When NGDP is Depressed, Employment is Depressed

RSS Subsciption

Enter your email address to subscribe to this blog and receive notifications of new posts by email.

Join 8,322 other followers

Increase NGDP, Put These People Back to Work

Follow me on twitter

March 2012
M T W T F S S
« Feb   Apr »
 1234
567891011
12131415161718
19202122232425
262728293031  

Archives

Politics Blogs

Testimonials

Paul Sagar

Left Outside is always worth a read for passionate, and frequently irreverent, analysis and comment.

Sunny Hundal

Oi! Enough of the cheek!

Chris Dillow

Left Outside is, I think, entirely wrong

John Band

This might be the least well informed piece I’ve read on LC, which is quite an accolade.

DEC Appeal

License

Creative Commons License
Left Outside by Left Outside is licensed under a Creative Commons Attribution 2.0 UK: England & Wales License.
Based on a work at leftoutside.wordpress.com.
Permissions beyond the scope of this license may be available at http://wp.me/PvyGQ-gt.

Follow

Get every new post delivered to your Inbox.

Join 8,322 other followers

%d bloggers like this: