University of Chicago Economists on the Slow Economic Recovery

Gary S. Becker, Steven J. Davis, and Kevin M. Murphy: Uncertainty and the Slow Recovery – WSJ.com

These facts suggest that it was a serious economic mistake to press for a hasty, major transformation of the U.S. economy on the heels of the worst financial crisis in decades. A more effective approach would have been to concentrate first on fighting the recession and laying solid foundations for growth. They should have put plans to re-engineer the economy on the backburner, and kept them there until the economy emerged fully from the recession and returned to robust growth. By failing to adopt a measured approach to economic policy, Congress and the president may be slowing the economic recovery, and thereby prolonging the distress from the recession.

I couldn’t agree more! Read the whole story. It’s another case of the government trying to set an agenda before it determines the best course of action. I’m getting really tired of this!

billspaced

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