Something intelligent out of Harvard?
...just not from the law school.
An interesting study on the impact of Congressional spending concludes that government "investment" does not stimulate anything except the pockets of lobbyists.
Following the appointment of a senator to the chair of a powerful committee, we estimate that his state experiences, on average, a 40-50 percent increase in its share of congressional earmark spending, and a 9-10 percent increase in its share of total state level government transfers. At the same time, firms residing in the state cut their capital expenditures by 8-15 percent, reduce R&D by 7-12 percent, and increase payout by 4-13 percent. Employment and sales growth are also impacted, as corporations scale back employment growth by 3-15%, and sales growth falls by up to 15%.
I am so shocked. Really. This is my shocked face.
An interesting study on the impact of Congressional spending concludes that government "investment" does not stimulate anything except the pockets of lobbyists.
Following the appointment of a senator to the chair of a powerful committee, we estimate that his state experiences, on average, a 40-50 percent increase in its share of congressional earmark spending, and a 9-10 percent increase in its share of total state level government transfers. At the same time, firms residing in the state cut their capital expenditures by 8-15 percent, reduce R&D by 7-12 percent, and increase payout by 4-13 percent. Employment and sales growth are also impacted, as corporations scale back employment growth by 3-15%, and sales growth falls by up to 15%.
I am so shocked. Really. This is my shocked face.
posted by Morlock Banduar at 22:16
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