boston.com - 1/5/2009
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The best way to make sure that a vast stimulus package doesn't turn into a federal boon doggle bonanza is for that money to go directly to private citizens and local governments.
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Ed Glaeser's words of wisdom
Marginal Revolution —
... is hard. Currently, the federal
government spends about $40 billion a year in transportation, and
another $20 billion on other forms of infrastructure. There is a case
for significantly increasing this amount. Our roads do need repairing,
and it makes sense to invest more in a downturn when unemployment is
high. But even doubling the current federal infrastructure expenditure,
a vast increase, would represent only 8 percent of a $750 billion
package. Here is much more, on the mark throughout. Here is related material by Mark Thoma and Paul ...
Glaeser on Stimulus
Greg Mankiw's Blog —
Ed weighs in.
Tax Cuts Should Boost Private Savings
Stefan Karlsson's blog —
... I now see that Harvard economics professor Ed Glaeser also favors tax cuts as the preferred method of stimulus. However, he appears to favor targeted tax cuts just for low income earners, because they are more willing to spend it, similar to the plan Obama presented during the campaign. ...
Related Content
The Allocation of Stimulus Funds
econbrowser.com 4/27/2009 — From Daniel Wilson, "Are Fiscal Stimulus Funds
Going to the 'Right' States?" at the SF Fed (h/t Torsten Slok at DB): ...While
it is too early to tell whether the overall stimulus
package will have its intended effects, this review
suggests that, by ...
Stimulus for Who?
safehaven.com 1/27/2009 — This week the House is expected to pass an $825 billion economic stimulus package. In reality, this bill is just an escalation of a government-created economic mess. As before, a sense of urgency and impending doom is being used to extract ...
Funds of Funds' Madoff Problem
online.wsj.com 12/16/2008 — The fund-of-hedge-funds industry needed the Bernard Madoff scandal like a hole in the head. Already reeling from the financial crisis, assets under management fell from $826 billion at the end of June to $685 billion by the end of October, according ...
$1 Trillion Stimulus
ritholtz.com 12/20/2008 — Stimulus competition grows as companies vie for funds; Caterpillar wants piece of highway projects; GE is pushing to build an electric ’smart grid’; Daimler AG hopes to build new buses for mass transit systems; Obama promises huge ...
Funds of Funds in a Funk
traderdaily.com 12/16/2008 —
The fund-of-hedge-funds industry needed the Bernard Madoff scandal like a hole in the head.
Already reeling from the financial crisis, assets under management fell from $826 billion at the end of June to $685 billion by the end of October, ...
Stimulus Package Unveiled
online.wsj.com 1/16/2009 — [House Democrats Unveil Stimulus Package] Getty Images A key element identified by President-elect Obama has been to spend money improving the efficiency of the federal government.
Against the Big Stimulus
econlog.econlib.org 1/5/2009 — (January 5, 2009 08:54 AM, by Arnold Kling) After reading Willem Buiter's long piece (pointer from Mark Thoma), I decided that it is time to come out firmly against a large fiscal stimulus. Instead, I would prefer a small stimulus. The case for a ...
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