Edward Harrison

Expect Structurally High Unemployment to Continue; Risk of Recessionary Lapse

Yes! The purpose of stimulus is increasing aggregate demand. The best way to do that is to employ people or put more money in their pocket - not through trickle down economics and the invisible had, but through measures that create jobs directly: works programs, tax cuts.

More of that and less of the other, please.


On Oct 23 09:09 AM Old Trader wrote:

> Given that small business is said to account for between 50% to 65%
> of new jobs, depending at which study one uses, it might have been
> nice (as well as more effective), to direct some of the stimulus
> money to such programs as the SBA, rather than supporting "too big
> to fail" banks, and industrial dinosaurs such as GM and Chrysler.