Is The Stimulus Working?

by Pejman Yousefzadeh on August 27, 2009

No. And no one should be surprised that we ought to find in the negative on this issue.

I have no confidence whatsoever that this failed experiment in Keynesianism is going to convince people that Keynesianism is a bad policy response the next time an economic crisis rolls around. But there is no excuse for the degree to which the economic data are being misrepresented and massaged into showing that the stimulus package passed by Congress is having much effect on the economy. To quote from the Forbes article, “[t]here is nothing like data to kill a good story.”

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