Wednesday, January 28, 2009

The Output Gap II - Revenge Of The Anti-Keynesians

Here's a timely follow-up to yesterday's post, "The Output Gap." The Obama administration may be surprised to learn that not all economists are Keynesians. Not all economists believe that the right course of action is to throw unseemly amounts of borrowed or "printed" money around.

The Cato Institute is running an ad with the signatures of quite a few economists to combat the belief that everyone believes that fiscal stimulus is the correct path. It was nice to see a few names from my alma mater on the list. I also couldn't help but notice that, just like our friend Paul Kr_gm_n, there were a couple of individuals on the list who at one point shook hands with the King of Sweden.

Link to the ad

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