Tag: malinvestment
Politics and Government “Investment”

I hope that you are as tired as I am of hearing politicians trot out the term “investment” to justify spending the taxpayers’ money on such things as high-speed rail, “green” energy alternatives to fossil fuels, innovative R&D projects and highways, more widespread Internet access and other so-called infrastructure. The public sector does not...
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The Best Stimulus Right Now?

Writing in the Wall Street Journal on December 23, Robert Lucas expresses approval of the Fed’s latest reduction of its target range for the Federal Funds Rate to approximately zero, calling it “welcome.” Lucas notes that this policy does not leave the Fed without the ability to inject additional reserves into the banking system,...
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