Job Creation and the Economic Stimulus Package: August 1978 (Classic Reprint) - Hardcover

Inhaltsangabe

Excerpt from Job Creation and the Economic Stimulus Package: August 1978

Economists and policy makers alike know that a dollar of expenditure has a greater economic impact than simply the dollar itself.l An economic disturbance (change) in the economy has secondary effects of a certain, at least crudely measurable magnitude. The analogy of a stone thrown into a pond is useful to illustrate that secondary economic effects rise, spread, diminish and eventually die over time. The stone creates a large splash and waves (in all directions) which fade with time, in a manner that is depend ent on the size of the initial splash and on the distance from the impact site. Thus, each dollar of new public or private spending will generate a new flow of goods and services whose value is greater than one dollar.

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