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Great Depression II

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  • Laurence Seidman

Abstract

This economist argues that fiscal and monetary stimulus likely saved us from a Great Depression. He explains clearly how and why Keynesian stimulus works, but he also argues that deficit spending cannot go on indefinitely. When the economy strengthens, that is the time to deal with government spending, not before. He offers a plan to do so.

Suggested Citation

  • Laurence Seidman, 2011. "Great Depression II," Challenge, Taylor & Francis Journals, vol. 54(1), pages 32-53.
    • Handle: RePEc:mes:challe:v:54:y:2011:i:1:p:32-53
    DOI: 10.2753/0577-5132540102
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    References listed on IDEAS

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    1. Nicholas S. Souleles & Jonathan A. Parker & David S. Johnson, 2006. "Household Expenditure and the Income Tax Rebates of 2001," American Economic Review, American Economic Association, vol. 96(5), pages 1589-1610, December.
    2. Claudia R. Sahm & Matthew D. Shapiro & Joel Slemrod, 2010. "Household Response to the 2008 Tax Rebate: Survey Evidence and Aggregate Implications," NBER Chapters, in: Tax Policy and the Economy, Volume 24, pages 69-110, National Bureau of Economic Research, Inc.
    3. Kenneth Lewis & Laurence Seidman, 2011. "Did the 2008 rebate fail? a response to Taylor and Feldstein," Journal of Post Keynesian Economics, Taylor & Francis Journals, vol. 34(2), pages 183-204.
    4. Laurence Seidman, 2001. "Reviving Fiscal Policy," Challenge, Taylor & Francis Journals, vol. 44(3), pages 17-42.
    5. Martin Feldstein, 2009. "Rethinking the Role of Fiscal Policy," American Economic Review, American Economic Association, vol. 99(2), pages 556-559, May.
    6. Laurence S Seidman & Kenneth A Lewis, 2009. "Does Fiscal Stimulus Cause Too Much Debt?," Business Economics, Palgrave Macmillan;National Association for Business Economics, vol. 44(4), pages 201-205, October.
    7. John B. Taylor, 2009. "The Lack of an Empirical Rationale for a Revival of Discretionary Fiscal Policy," American Economic Review, American Economic Association, vol. 99(2), pages 550-555, May.
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    Cited by:

    1. Laurence Seidman, 2013. "Stimulus Without Debt," Challenge, Taylor & Francis Journals, vol. 56(6), pages 38-59.
    2. Laurence Seidman, 2011. "Keynesian Fiscal Stimulus: What Have We Learned from the Great Recession?," Working Papers 11-11, University of Delaware, Department of Economics.
    3. Laurence Seidman, 2012. "Keynesian stimulus versus classical austerity," Review of Keynesian Economics, Edward Elgar Publishing, vol. 1(0), pages 77-92.

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