Saturday, September 10, 2011
Paul Davidson on Obama's job speech
Here is a link to an interview with Paul Davidson. He makes it clear why a payroll tax cut and other incentives to hiring will not be enough to create new jobs. Lower costs will not lead to hiring if there is no demand. It's not just basic economics, it's simple logic.
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Precisely. Thats why I am nagging on just do the darned f***ing jobs (now, now, don't jump to conclusions). That is the twofer that reduces immiseration and increases effective demand about as effectively as you can.
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