“Teach America: Government can work”
Economists Jeff Madrick, Dean Baker and James Hamilton talk about how President-elect Obama should proceed with his stimulus plan.
Tuesday, Jan 13, 2009 12:05 PM UTC 20All Salon U.S. Economy, Barack Obama
James Hamilton
All Salon U.S. Economy, Barack Obama
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Paul Krugman’s right: Austerity kills. "In an economy where we’re all in the same boat, one person’s spending is another person’s income. So when the government cuts spending, it reduces people’s income, leading to less business, more unemployment, and a vicious spiral of slowing down the economy."
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