Sunday, November 6, 2011

Richard Posner Is a Keynesian

In a post (here) comparing and contrasting Greece and the US, Judge Posner makes the following assertion:
In both countries, government is cutting spending when (from an economic standpoint) it should be increasing it, to take up the slack in private investment and stimulate employment and in turn consumer spending (which drives business spending, which increases the demand for labor).

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