In 2008, many serious politicians (and economists) like to explain why tax increases would be a good thing. They usually cite their belief that devoting more resources to infrastructure and education would be worthwhile. Others might suggest that this is naive (or even ignorant).
This is why it is useful to have Christina and David Romer chime in with serious work that shows that tax increases actually lower GDP.
Leave the resources where they are most productive. What a concept!
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A blog exploring the intersection of economic thinking and urban planning/real estate development and related big-think themes.
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