Krugman: Think Beyond Stimulus to New Economy
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Once the nation’s economy begins to recover; we should build a durable and broadly shared prosperity. That was the message Nobel laureate Paul Krugman brought today to the first in a series of conferences on progressive ideas to turn around the economy.
Speaking to more than 800 participants at the Thinking Big/Thinking Forward conference in Washington, D.C., Krugman said that to prevent the nation’s economic pit from becoming a permanent trench, we will need a combination of fiscal and financial policies. And that will require the government to invest in the economy in a big way to spur demand.
Krugman, who won the Nobel Prize in economics in 2008, disputed Republican claims that the best way to stimulate the economy is through tax cuts.
There’s more bang for the buck from government spending than from tax cuts.
Time to Think Big, Push for Progressive Government Action
President Obama’s economic stimulus package is just the beginning of a long-overdue public investment in rebuilding our nation’s economy. And now is the time to seek broad solutions—to think big about what can be done.
Today at the Thinking Big/Thinking Forward conference, hundreds of progressives took the first steps to building a movement to coalesce public support for a more activist, progressive government to rebuild our nation’s economy.
The one-day conference in Washington, D.C., was co-sponsored by The American Prospect, Institute for America’s Future, Demos, and the Economic Policy Institute (EPI).
Thinking Big About a New Economy
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Nobel Prize-winning economist Paul Krugman, Pennsylvania Gov. Ed Rendell (D) and Rep. George Miller (D-Calif.) will headline an array of economic experts and progressive leaders as they gather in Washington, D.C., tomorrow to discuss strategies for rebuilding a new and more sustainable economy.
More than 800 people are expected to attend the Thinking Big/Thinking Forward conference, co-sponsored by The American Prospect, Institute for America’s Future, Demos, and the Economic Policy Institute (EPI). In a joint statement, the conference organizers say the current economic crisis requires far more than a short-term stimulus.
The current recovery plan must be understood as a down-payment on a sustained expansion of public investment vital to building this new economy. It is time to discard the scorn for effective government that contributed to our current travails and commit to making the investments critical for our future as a centerpiece of a new economics of shared prosperity.
