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.
