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dc.contributor.authorHenderson, David R.
dc.date.accessioned2014-08-27T15:59:30Z
dc.date.available2014-08-27T15:59:30Z
dc.date.issued2010-11
dc.identifier.urihttp://hdl.handle.net/10945/43115
dc.descriptionWorking paper No. 10-67en_US
dc.description.abstractWe often hear that big cuts in government spending over a short time are a bad idea. The case against big cuts, typically made by Keynesian economists, is twofold. First, large cuts in government spending, with no offsetting tax cuts, would lead to a large drop in aggregate demand for goods and services, thus causing a recession or even a depression. Second, with a major shift in demand (fewer government goods and services and more private ones), the economy will experience a wrenching readjustment, during which people will be unemployed and the economy will slow.en_US
dc.rightsThis publication is a work of the U.S. Government as defined in Title 17, United States Code, Section 101. As such, it is in the public domain, and under the provisions of Title 17, United States Code, Section 105, may not be copyrighted.en_US
dc.titleThe U.S. Postwar Miracleen_US
dc.typeArticleen_US
dc.contributor.departmentGraduate School of Business & Public Policy (GSBPP)


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