Why have the CIS/IPA not commissioned something like this?

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7 Responses to “Why have the CIS/IPA not commissioned something like this?”

  1. Chris Says:

    good ad…

  2. JaketheMuss Says:

    …They don’t have any money?

  3. Trout Says:

    Daniel J. Mitchell (at 2:36 in the video) is missing the point. No one is advocating that government spending is a legitimate means to maintain economic growth. Long term economic growth depends predominately on investments in human capital and encouraging private sector investment. Nonetheless, large government spending is a legitimate means to smooth out fluctuations in the business cycle over the short term. In other words, spend in recession, and save during booms. The last point, in my opinion, was one of the main failings of the Howard government. They spent way to much throughout a period of significant economic prosperity. If they didn’t engage in so much useless consumption spending, there may not be the problem of the impending budget deficit.

  4. John Roskam Says:

    Tim
    Good question…Cato has just a little bit more money than we do at the IPA. If someone would like donate to the IPA to allow us to do such an ad we’d be delighted!

  5. Tim Says:

    1)”No one is advocating that government spending is a legitimate means to maintain economic growth.” – yes they are – Krugman et al
    2)”large government spending is a legitimate means to smooth out fluctuations in the business cycle over the short term” – as nice as this no doubt sounds for you in undergraduate economics, it doesn’t work, it hasn’t work, and it won’t work. Such simplistic Keynesian prescriptions rely on government omniscience that is quite impossible to ever even come close to – check out austrian school theorisits on this
    3)I agree the Howard government overspent

  6. Trout Says:

    If you could post a link to the Krugman article, it would be much appreciated. I haven’t exactly been a fan of his in his new found career as a political commentator, but advocating government spending as a legitimate means to maintain (and by maintain, I mean over the medium to long term) economic growth is unbeleivable.

    With regards to point 2, let’s be honest. As much as I admire Hayek, the Austrian School is a fringe group and doesn’t hold a great deal of credibility. Nonetheless, you could have just used the new classicals real business cycle theory as a more mainstream argument against smoothing out fluctuations.

    And as far as the ‘you’ve only finished undergrad, so you don’t know how things really work’ argument is concerned, come on. You can do better than that. At the very least I’m not just blindly following ideology, dismissing the ideas of all others with different political veiws.

  7. JaketheMuss Says:

    “With regards to point 2, let’s be honest. As much as I admire Hayek, the Austrian School is a fringe group and doesn’t hold a great deal of credibility. Nonetheless, you could have just used the new classicals real business cycle theory as a more mainstream argument against smoothing out fluctuations.”

    http://en.wikipedia.org/wiki/Appeal_to_authority

    “And as far as the ‘you’ve only finished undergrad, so you don’t know how things really work’ argument is concerned, come on. You can do better than that. At the very least I’m not just blindly following ideology, dismissing the ideas of all others with different political veiws.”

    http://en.wikipedia.org/wiki/Appeal_to_authority

    It takes balls to in one breath appeal to authority and in another breath, accuse someone else of appealing to authority.

    You are my new hero. I’m very aroused.

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