Max, if you were only correct. The public sector "crowds out" productive private spending, like oil companies buying stock instead of expending money on physical capital. The public sector distorts incentives. The public sector is wasteful ...
On Mon, Apr 07, 2008 at 11:16:45AM -0400, Max B. Sawicky wrote: > > The striking thing to me about the Warsh book re: mainstream growth theory > is the > myriad of means by which economists gloss over the role of the public > sector, even as > explicitly implied by their own models. > > -- Michael Perelman Economics Department California State University Chico, CA 95929 Tel. 530-898-5321 E-Mail michael at ecst.csuchico.edu michaelperelman.wordpress.com _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
