Monday, April 26, 2010

Is Keynesian Theory Dead Yet?

It didn't work in the 30's, it didn't work during the lost decade in Japan, it didn't work now. I know economics is a soft science, but still...

In latest quarterly survey by the National Association for Business Economics, the index that measures employment showed job growth for the first time in two years -- but a majority of respondents felt the fiscal stimulus had no impact.

NABE conducted the study by polling 68 of its members who work in economic roles at private-sector firms. About 73% of those surveyed said employment at their company is neither higher nor lower as a result of the $787 billion Recovery Act, which the White House's Council of Economic Advisers says is on track to create or save 3.5 million jobs by the end of the year.