On Friday I was invited to a conference call with Ed Lazear, Chairman of the President’s Council of Economic Advisors. The call was devoted to the topic of an economic stimulus package being considered by the President. Supply side economists like me were respectful but somewhat skeptical of the idea of the government sending out checks to the public in the hopes that we’ll spend the money. The idea is that we have a short run slow-down and we need a quick kick to get us through this rough spot. I don’t agree...
