Dear Bill, Now don't go getting over-stimulated by the stimulus of the not-very-stimulating media reports. :) Seriously though, I notice all the time that members of the news media refer to any tax cut with Keynesian demand-side analysis--if indeed one can credit any of their reports with anything approaching actual analysis.
David P.S. I hope you're enjoying your break. In a message dated 1/8/03 10:21:50 AM, [EMAIL PROTECTED] writes: << Does anyone else here find listening to news anchors talk about "stimulus" and economics horribly painful? Where did people get this idea that the purpose of a tax cut is to get people to spend it??? I know, I know, Keynes. But isn't there anyone out there that these nightly shows can bring on to offer a sensible viewpoint? I mean, I saw ABC World News Tonight's "Business and Economics" correspondent get up there and interview two families. She asked them what they planned to do with their share of the tax cut. Both families claimed they planned to save it (Heaven Forfend!). The conclusion was then reached by Peter Jennings that the policy was doomed to failure. As if saving and investment doesn't lead to production and growth!! As Steven Landsburg has pointed out, why is it that everyone feels entitled to speak about economic matters when they are not economists? No one asks non doctors to get up and speak about medical issues..... Stimulus is now my least favorite word in the English language. -Bill >>
