By: XTOL on Lunedì 22 Giugno 2015 13:36
#i#tesi vecchiotte e strasputtanate#/i#
e infatti:
^The Math Behind Fiscal Stimulus#http://julian-liberty.tumblr.com/post/64687888072/the-math-behind-fiscal-stimulus^
We can break all of this data up into three periods: that in which the Austrian business cycle theory mostly dominated (1887-1913), that in which the US government practiced monetary but not fiscal stimulus (1913 to 1932) and then the period in which the United States practiced stimulus spending to cure recessions (1933-2013). The second period, as a hybrid period, is useless for our purposes. So let’s study Period 1, characterized by an Austrian laissez-faire approach to recessions, and Period 3, characterized by stimulus spending.
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This is the legacy of fiscal stimulus. It balloons the deficit and misallocates economic resources in the name of preventing or fixing recessions. But, looking at the numbers, it does a poorer job of handling recessions than a laissez-faire Austrian approach.