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Saturday, January 03, 2009

Shutting the Eyes on the Back our Heads

Joseph Stiglitz:

“I’ve been a bit astonished that all the discussion around the private-sector stimulus has centered on infrastructure,” he said. “Bailouts, too, are aimed at correcting mistakes of the past, so they are backward-looking. We would be much better off spending our money forward-looking. If we spend $700 billion on new technology and innovation, we’d have a stronger, new, real economy. Up to now, the discussion has focused on the sectors that have been mismanaged rather than the sectors that are creating our future.”

    Posted by on Saturday, January 3, 2009 at 05:22 PM in Economics, Fiscal Policy | Permalink  TrackBack (0)  Comments (29)


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