Brad De Long rightly criticises Barro.
I thought Barro was questionable when he attempted to say spending in war-time showed no multipliers re fiscal spending. Her forgot about controls in WW2 and didn’t know about the rise in taxation that payed for the Korean war.
Brad De Long rightly criticises Barro.
I thought Barro was questionable when he attempted to say spending in war-time showed no multipliers re fiscal spending. Her forgot about controls in WW2 and didn’t know about the rise in taxation that payed for the Korean war.