„But further analysis and experience soon raised doubts about the efficacy of these new tools. Empirical research indicated that the Keynesian multiplier was much smaller than earlier analyses had assumed, reduced by a crowding out of interest-sensitive spending caused by an induced increase in the demand for money and by the effect of the larger national debt on long-term interest rates. The leakage of demand through imports and the effect of the fiscal expansion on the exchange rate further reduced the multiplier.“

—  Martin Feldstein, "Rethinking the Role of Fiscal Policy" (2009).
Martin Feldstein photo
Martin Feldstein
1939 - 2019

Citações relacionadas

Rudiger Dornbusch photo
Edward Heath photo
Rudiger Dornbusch photo
Paul Krugman photo
Frank P. Ramsey photo
Aristotle photo

„Money was intended to be used in exchange, but not to increase at interest.“

—  Aristotle, livro Política
Politics, Context: Money was intended to be used in exchange, but not to increase at interest. And this term interest, which means the birth of money from money, is applied to the breeding of money because the offspring resembles the parent. Wherefore of all modes of getting wealth this is the most unnatural. Book I, 1258b.4

Michał Kalecki photo
James Meade photo

„In the new money system we abolish interest and inflation, thereby reducing the prices of all goods and services as well as taxes by about 40%.“

—  Margrit Kennedy German architect 1939 - 2013
Interest and Inflation Free Money (1995), Chapter Three, Who Would Profit From a New Monetary System?, p. 66

Nas photo
George Will photo

„The realistic way to reduce the amount of money in politics is to reduce the amount of politics in money -- the importance of government in allocating wealth and opportunity.“

—  George Will American newspaper columnist, journalist, and author 1941
2000s, Column, April 12, 2001, "PACs and McCain-Feingold" http://townhall.com/columnists/georgewill/2001/04/12/pacs_and_mccain-feingold at townhall.com.

Al Franken photo
Milton Friedman photo
Lysander Spooner photo

„Lorem ipsum dolor sit amet, consectetuer adipiscing elit. Etiam egestas wisi a erat. Morbi imperdiet, mauris ac auctor dictum.“