WIST = Wish I'd Said That. Today's hero, Price Fishback
in Q&A on the stimulus package at the Council on Foreign Relations:
There seems to be a little bit of disconnect. The government has always built roads, it's always built infrastructure and things like this. I think the point that Ellen's trying to make in this context is if you're expecting it to be a big stimulus, it's not that -- it's not going to be a huge stimulus, but if you build these roads and bridges and things along these lines on the basis of what their cost and benefits look like, that makes a lot of sense to do that.
So the big question is can you move them up or move them forward? Does it make sense to actually build something that's not worth the money to do it? And what she's saying, what a lot of people are saying is no, it doesn't make sense to build a bridge to nowhere. It makes sense to build the right projects, but don't expect that you're going to get some huge extra stimulus behind it.
A couple years ago I read "ten little words" from Peter Gordon
on applied economics:
Labels: economics, Obama