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Politics : View from the Center and Left

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To: Steve Lokness who wrote (102814)	2/2/2009 12:57:16 PM
From: TimF	Read Replies (1) of 542657

I see. Apparently (correct me if I'm wrong), you seem to be looking at the stimulus not as a classical Keynesian stimulus (or at least not mostly as a Keynesian stimulus) but as an action to improve confidence. No solid theories about that, no one's ever figured a reliable, repeatable way to restore confidence, but just as there is no solidly established theory as to how to do it, there isn't much established as to how not to do it. So I can't back up any claim that such a spending plan would not do so. I saw an interesting blog comment recently. Someone else was responding to the idea of the stimulus as a means to restore confidence. They ideas was that it was like the placebo effect. Even if the direct effect of the program wasn't massively good, if you could convince people it was, than the economy would be better off. Anyway the commenter said that if we want a placebo effect than congress should pretend to spend all the money. <g>

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