dc.contributor.author | Henderson, David R. | |
dc.date.accessioned | 2014-08-27T15:59:30Z | |
dc.date.available | 2014-08-27T15:59:30Z | |
dc.date.issued | 2010-11 | |
dc.identifier.uri | http://hdl.handle.net/10945/43115 | |
dc.description | Working paper No. 10-67 | en_US |
dc.description.abstract | We 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.rights | This 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.title | The U.S. Postwar Miracle | en_US |
dc.type | Article | en_US |
dc.contributor.department | Graduate School of Business & Public Policy (GSBPP) | |