Here’s a list of articles that I have been reading today (organized by topic):
Professor Mankiw brings up a critical flaw with the Keynesian framework behind the so-called stimulus plan from earlier this year; that is, that the 1930′s style Keynesian theory relied upon by the U.S. Congress and the Obama administration is predicated upon the assumption that households and firms don’t care about the future and therefore are not forward-looking. Once you relax this assumption, then the multiplier effect essentially vanishes as a result of the behavioral adjustments made by forward thinking (i.e., not myopic) households and firms.
Wall Street Journal: “A U.S. withdrawal from Afghanistan would have terrible consequences in the war on terror.”
Health Care Reform
New York Times: “Our move toward physician-assisted suicide springs from the same quest that leads us to spend nearly twice as much on health care as any other developed nation.”
Wall Street Journal: “The higher taxes, debt payments and interest rates needed to pay for health reform mean lower living standards.”
Law and Politics
Wall Street Journal: “Will the Supreme Court finally overturn McCain-Feingold and enforce the First Amendment?”