tag:blogger.com,1999:blog-2761684730989137546.post2306475280456321859..comments2024-03-29T02:19:19.866-04:00Comments on Mike Norman Economics: Joseph E. Stiglitz — The Politics of Economic Stupiditymike normanhttp://www.blogger.com/profile/03296006882513340747noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-2761684730989137546.post-50633172267341159102015-01-21T12:39:16.445-05:002015-01-21T12:39:16.445-05:00Right, the cyclical model of investment is led by ...Right, the cyclical model of investment is led by neither demand nor need, which are the chief economic signals.<br /><br />The model is to wait until the horses have left the barn and then lock the door.Tom Hickeyhttps://www.blogger.com/profile/08454222098667643650noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-20172584821650950812015-01-21T10:06:31.801-05:002015-01-21T10:06:31.801-05:00I'm already getting fed up of the 'infrast...I'm already getting fed up of the 'infrastructure spending' argument. <br /><br />You should always be spending on the necessary infrastructure regardless of the cycle. <br /><br />Infrastructure projects are not start/stop operations that can balance things out. <br /><br />The auto stabilisers are not stabilising sufficiently and we need to ask why and fix them. <br /><br />Otherwise very quickly we'll end up building roads to nowhere and overbidding capital equipment.NeilWhttps://www.blogger.com/profile/11565959939525324309noreply@blogger.com