What It Will Take To Jump Start The Economy
Kuttner's article, "Why the economy isn't heeding Clinton's call" (Economic Viewpoint, July 26), arguing for an investment stimulus, necessitates comment. First, the Clinton plan to stimulate the economy through deficit reduction or lower interest rates is by itself erroneous, in that lower rates are in themselves a reflection of lower demand. It is no different than saying lower apple demand will reduce the price of apples. However, the lower price will not increase the consumption of apples.
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