Wretched Excess

Scheiber, Noam
December 2001
New Republic;12/3/2001, Vol. 225 Issue 23, p19
Focuses on recession in the United States. Strategy of Chairman Alan Greenspan and the Federal Reserve to cut interest rates and use monetary policy to prevent recession; Use of tax cuts of government spending to put extra money into the hands of consumers and businesses; View that the recession was not caused by a change in consumer spending, but in business spending; Discussion of the business cycle; Issues related to capital spending; Information on the model developed by economist Joseph Schumpeter.


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