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Politics : View from the Center and Left
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To: neolib who wrote (31330)11/9/2006 9:38:17 PM
From: Sun Tzu  Read Replies (1) of 541673
 
Neo, I am on my way out and will not be posting on SI for the next few months. So here is my very short answer.

I believe you are mistaking the actual multiplier effect with claims on economic effects associated with it. In effect you may be debating JMK's views rather than the actual multiplier, and that is something that cannot be debated in a short space. There is no question that injecting money at the bottom of economy increases GDP. But you can debate if that increase in GDP is any more "real" than the increase we get if you and I just sold each other the same egg for a million dollars over and over again.

Here is a good (and brief) description of the subject en.wikipedia.org The external link on the page is titled "The Myth of the Magical Multiplier". But if you read it, you see that it is really critical of JMK and the *claims* associated with the multiplier.

Sun (now I really have to go) Tzu
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