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A Case for Big Government

Monday, January 26, 2009

In Barack Obama’s inaugural speech, he said "the question we ask today is not whether our government is too big or too small, but whether it works." Jeff Madrick, author of The Case for Big Government, argues that in the current financial crisis, big government is the most effective way to regulate the economy.

Guests:

Jeff Madrick

Comments [8]

Ellen from Manhattan

I thought this theory of how to improve our economy made more sense than anything I've heard so far. I wish President Obama would call the author in for a long discussion.

Jan. 27 2009 01:13 PM
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Tom from NYC

Please clarify if the speaker wants higher tax rates or higher tax dollars collected. The two are not the same.

Jan. 26 2009 01:47 PM
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RC

Can the author discuss what technical innovation that has helped spurred economic growth that came from the government?

From what I understand that all of the satellite technology has come from NASA. The Internet from the Defense department and jet engine technology from the Defense dept.

Also Friedman's claim to fame is in Monetary theory. Which most liberals and conservatives use.

Jan. 26 2009 01:47 PM
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alex from Brooklyn

Is the income tax not illegal according to the constitution? Don't our income taxes go to pay off government debt rather than promote social well-being? It's not an apportioned tax.

Jan. 26 2009 01:46 PM
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Amber Smart from New York City

I don't want to spend anymore - with or without a tax cut. My family is realizing so much of the stuff we use to buy was not needed - junk really - mostly from China. I want to see the dollars spent on something that will last - education, green energy, and infrastructure.

Jan. 26 2009 01:44 PM
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alex from Brooklyn

I'm really interested in hearing how someone can still actually make such an inane case. keynesian economics, Central Planning and big government are proven to be inefficient. These are the precise ideals and structures that brought us to this dismal point. A voice from the Austrian school of economics (the type of foundation this country was built on) would be a good contrast. I'm definitely not as educated as the author of this book, but I'm certainly not stupid (like the millions of others who can see right through these insipid arguments in favor of prolonging failed policies). I'll certainly listen to this segment, but I doubt this guy can make much of a case.

Jan. 26 2009 12:17 PM
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Shahin Khalisdar from NYC

It brought my attention that many Americans forget that what is America. America is built by hard working poor immigrants. They came in this country from English imprisonment to political refugees and created big asset.I wish the opportunist those who come here for opportunity they understand that this country built from the blood of slave to poor Chinese Immigrants. The creator of USA decided to small government. I think, every president need to put their mind on small government and assist citizens to open small business. thank you

Jan. 25 2009 06:56 PM
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Leon Freilich from Park Slope

DISCOUNTING THE RECESSION

Recession? Don't even think about it. If notthinking is not your thing, you might consider exploiting it. Why not? Plenty of merchants are doing that already:

Met Opera--half-price if you bring your own chair

Met Museum--free to everyone splashing out upwards of $75 in the gift shop

Movie theater--50% reduction for companion if both of you sit in the front row

Bowling alley--down six beers, choose your gratis lane

Employment agency--hired? We'll pick up your subway tab

Real estate agency--fee-back guarantee if house explodes or sinks

Driving school--two students for the price of one when that one brings his/her own steering wheel

Grocery--yesterday's bread at tomorrow's deflationary price

Gas--clean the car windows of customers taking premium and changing oil

Shoemaker--three shoes fixed for the price of two

Pediatrician--twins count as one patient; triplets, one and a half

Family doctor: will pay you the minimum wage for time waited beyond three hours

Lawyer--you sue someone, free; you sue a second party, standard price; failure to pay that, we sue you

Divorce lawyer--group rates for polygamists

Bookshop--buy one Stephen King, next published within one year at 1/3 off, the following at 2/3 off; any additional King novel before year's end, no cost

Computer--vow to post no smart aleck postings, 35 percent reduction

Theater--see first or second act of pricey musical free; if satisfied, pay full price for next Wednesday matinee

Drugstore--all the aspirin you can heft, $5

Restaurant--bar/bat mitzvah reception free for anyone putting down a healthy deposit for kid's wedding

Car dealership--Take it, take it.

Jan. 25 2009 02:40 PM
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