Thomas Firey on The Cato Institute's blog questions the Obama stimulus model, revisiting old questions on whether the New Deal was as good as advertised.
Firey: "Long before she was named chair of Obama’s Council of Economic Advisers, Christina Romer wrote a short paper for the Journal of Economic History titled “What Ended the Great Depression?” The paper provides empirical evidence that FDR’s fiscal policy provided little stimulus during the Great Depression."
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