My understanding, and that of most economists I believe, is that Keynsian stimulus doesn't actually work.
That's not my impression. From what I've gleaned sense the bubble burst is that economists (not, in my opinion, a particularly impressive bunch to judge from their track record of predicting the future beyond the end of next week) have undergone a mass-conversion. Doesn't mean they're right, but that is what most of them are now saying.
This is why he didn't want to "do" anything to stop the recession - stimulus is always too late and recessions happen, you don't want to make them worse, but you can't do a heck of a lot to make them better.
Maybe so. Neil Reynolds published a very interest article in Wednesday Globe, essentially arguing that Canada's economy is too small to have significant influence on the course of the world economy, that our (former) deficit-free position was a great strength and that our best option would have been to simply hunker down and let the US do the heavy-lifting, then reap the benefits if that works — and if it doesn't, we'll be no worse off than we would have been anyway, except that we wouldn't have an extra $60-billion added to our national debt.
Another theory you'll enjoy - Harper is shrinking the size of government in as permanent fashion as possible so that even when the Conservatives lose power, the ability to increase spending will be greatly restricted.
You should read my piece again — that's my theory!
And as someone who doesn't want to spend another 20 years paying off Liberal debts (thank you Trudeau!) I have to admit, I'm a fan!
Then you shouldn't be. Because what he's doing is putting us into debt!
Citations?
That's not my impression. From what I've gleaned sense the bubble burst is that economists (not, in my opinion, a particularly impressive bunch to judge from their track record of predicting the future beyond the end of next week) have undergone a mass-conversion. Doesn't mean they're right, but that is what most of them are now saying.
This is why he didn't want to "do" anything to stop the recession - stimulus is always too late and recessions happen, you don't want to make them worse, but you can't do a heck of a lot to make them better.
Maybe so. Neil Reynolds published a very interest article in Wednesday Globe, essentially arguing that Canada's economy is too small to have significant influence on the course of the world economy, that our (former) deficit-free position was a great strength and that our best option would have been to simply hunker down and let the US do the heavy-lifting, then reap the benefits if that works — and if it doesn't, we'll be no worse off than we would have been anyway, except that we wouldn't have an extra $60-billion added to our national debt.
Another theory you'll enjoy - Harper is shrinking the size of government in as permanent fashion as possible so that even when the Conservatives lose power, the ability to increase spending will be greatly restricted.
You should read my piece again — that's my theory!
And as someone who doesn't want to spend another 20 years paying off Liberal debts (thank you Trudeau!) I have to admit, I'm a fan!
Then you shouldn't be. Because what he's doing is putting us into debt!