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There was interesting exchange between Krugman and Ezra Klein few years back - Krugman insisted that macro models show that the Obama stimulus should have been
by venomsnake 13y ago
There was interesting exchange between Krugman and Ezra Klein few years back - Krugman insisted that macro models show that the Obama stimulus should have been 3-4 times bigger to take effect. The guy is probably right. But Klein replied that even if that big stimulus was passed into law, there just weren't enough quality projects in US which to absorb the stimulus.
So next time someone ask this - the proper reply is - where is the cancer research infrastructure and promising leads which could absorb what we spend every year on smartphones and tablets.
- jlgreco 13y agoAdd enough corruption and fat to those cancer research programs and they would happily consume all the wealth you could ever dream of throwing at them. Eventually you'll reach a point where you realize that instead of throwing those millions at wasteful cancer research, you could get more bang for your buck funding some other startlingly efficient programs.
- 7952 13y agoIt may be better to look for quality projects in basic research into fundamental science. Understanding more about biology and physics helps cure cancer and could devoir almost any budgets (see cern).
- eru 13y agoAmerican infrastructure is creaking. There's lots that can absorb resources. (Though probably not in a very short time, it takes a while to get projects shovel-ready.)
- jrs99 13y agoIt could easily go into a project such as something like Masdar City.