Economist N. Gregory Mankiew who writes many of the textbooks used in business school curriculum mentioned today that investment tax credits would have HUGE short term impacts on the economy and I can't believe team Obama isn't embracing this yet.
Probably because it doesn't work. Seriously though Mankiw is more honest than some of his fellow neoconomists but we had eight years of following their suggestions to a T and that landed us where we are today. Mankiw, Hubbard, Lindsey and other assorted right wing economists are discussed in the 2005 book "Neoconomy" by Daniel Altman, which proved to be quite prescient. I am reading that book now and perhaps will review it at some point.
Bottom line is that "free market" supply side economics has been tried and failed. But it was quite successful at increasing wealth for the rich and increasing job "flexibility" for the rest of the nation.
"When the snows fall and the white winds blow, the lone wolf dies but the pack survives." Winter is Coming Now this is the Law of the Jungle—as old and as true as the sky; And the wolf that shall keep it may prosper, but the wolf that shall break it must die. As the creeper that girdles the tree-trunk, the Law runneth forward and back; For the strength of the Pack is the Wolf, and the strength of the Wolf is the Pack.
