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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. Copyright protection is not available for this work in the United States.en_US
dc.titleThe U.S. Postwar Miracleen_US
dc.typeArticleen_US
dc.contributor.departmentBusiness & Public Policy (GSBPP)


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