Monday, February 16, 2009

Stimulus Link Roundup

Things worth reading about the Stimulus that I didn't manage to work into my last post.

What's In The Bill
- Michael Grabell, ProPublica: The Stimulus Plan: Where the Money Would Go
- Karen Yourish & Laura Stanton, The Washington Post: Taking Apart the $819 billion Stimulus Package

How We Got In This Mess In the First Place
- John B. Taylor, The Wall Street Journal: How Government Created the Financial Crisis; Research shows the failure to rescue Lehman did not trigger the fall panic.
- Scott S. Powell, Barrons: The Culprit Is All of Us; The government's meddling got us into this mess.
- Julia Finch, The Guardian: Twenty-five people at the heart of the meltdown ...

Why It Won't Work
- Stephen Dinan, Washington Times: CBO: Obama stimulus harmful over long haul
- Robert Stacy McCain, American Spectator: It Still Won't Work
- Mario Rizzo, ThinkMarkets: The Macroeconomic Knowledge Problem
- Russell Roberts, Cafe Hayek: Corrupt
- The Daily Beast Big Fat Story: Six New Stimulus Woes

What's Hiding In the Bill
- Betsy McCaughey, Bloomberg: Ruin Your Health With the Obama Stimulus Plan
- James C. Capretta, NRO's The Corner: The House’s Hidden Employer Mandate

What Should We Be Doing Instead?
- Alex Adrianson, Heritage InsiderOnline Blog: The Case for Free Market Solutions to the Economic Crisis
- Russell Roberts, NPR: Economists Offer 2 Takes On Obama Stimulus Plan
- Russell Roberts, Cafe Hayek: Inconceivable.

And, finally, the Wisdom of Hayek:

The theory [...] which I contend is largely the product of such a mistaken conception of the proper scientific procedure, consists in the assertion that there exists a simple positive correlation between total employment and the size of the aggregate demand for goods and services; it leads to the belief that we can permanently assure full employment by maintaining total money expenditure at an appropriate level. Among the various theories advanced to account for extensive unemployment, this is probably the only one in support of which strong quantitative evidence can be adduced. I nevertheless regard it as fundamentally false, and to act upon it, as we now experience, as very harmful.

- Friedrich August von Hayek, in hisNobel Prize Lecture. (h/t Don Boudreaux)

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