The Return of Big Government--Policy Advice for President Obama
AbstractIn the current global financial crisis, economists and policymakers have reembraced Big Government as a means of preventing the reoccurrence of a debt-deflation depression. The danger, however, is that policy may not downsize finance and replace money manager capitalism. According to Senior Scholar L. Randall Wray, we need a permanently larger fiscal presence, with more public services. His advice to President Obama is to discard all of former Treasury Secretary Paulson's actions. Wray believes that we can afford any necessary spending and bailouts, and that these actions will not burden our grandchildren.
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Bibliographic InfoPaper provided by Levy Economics Institute, The in its series Economics Public Policy Brief Archive with number ppb_99.
Date of creation: Mar 2009
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This paper has been announced in the following NEP Reports:
- NEP-ALL-2009-03-22 (All new papers)
- NEP-HPE-2009-03-22 (History & Philosophy of Economics)
- NEP-PBE-2009-03-22 (Public Economics)
- NEP-PKE-2009-03-22 (Post Keynesian Economics)
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