It has been a rude shock to see so many economists with good reputations recycling old fallacies - like the claim that any rise in government spending automatically displaces an equal amount of private spending, even when there is mass unemployment - and lending their names to grossly exaggerated claims about the evils of short-run budget deficits. |
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Sheila Samples is an Oklahoma writer and a former civilian US Army Public Information Officer. She is a Managing Editor for OpEd News, and a regular contributor for a variety of Internet sites.