Slamming Stimulus: Chris Edwards on C-SPAN

Economists do not have an accurate or agreed-upon model of the short-run economy, and their advice is often in error. Politicians should be more humble about their ability to control short-term economic ups and downs. Legislative action based on incomplete information risks destabilizing the economy further. Efforts to fix short-term problems often create long-term damage ‹ such as by putting the nation further into debt. Chris Edwards appeared on C-SPAN’s Washington Journal recently to discuss the “stimulus package” proposed by President-elect Obama.

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