Test your ability. Play the Bailout Game. Wait for the intro to stop. (Hat tip: Greg Mankiw)
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Played twice: 1) generous 2) stingy.
Same result.
An overoptimistic stimulus plan – The Boston Globe
Budget analyst Brian Riedl of the Heritage Foundation points out that “mountains of academic studies show how government expansions reduce economic growth.” A 1997 study in Public Finance Review, for example, concluded that “higher total government expenditure, no matter how financed, is associated with a lower growth rate.”
Real-world evidence of the inefficacy of pump-priming abounds. For starters, there was last year’s massive increase in federal spending, including $105 billion in tax rebates and more than $300 billion in “emergency” spending, not to mention passage of the $700 billion financial-sector bailout. None of it revived the economy. In the 1990s, Japan tried without success to deficit-spend its way out of recession, enacting 10 “stimulus” bills in eight years and spending trillions of yen on public infrastructure. Yet unemployment grew worse, the economy remained anemic, and Japan was left with the largest national debt in the industrialized world: 170 percent of GDP.
Will we follow Japan’s lead? US government spending is at record-busting levels, budget deficits have never been greater, and the national debt is closing in on a once-unimaginable $11 trillion. We are in over our collective head in debt, and our economy is reeling. Borrowing even more heavily will not make things better.
Next: A new New Deal?
games seems a little weighted to favor the government regulation side.
Doug: more like a new USSR.
We might jsut need a short depression to get this out. But this will not happen.
The idiots that have caused this mess are in charge.
The only solution is to get government out of it.. Reduce government across the board by 50% or more. Will never happen with the current political “configuration”.
Reagan was right once again.
The Teflon Dunce, that knew more about the way the World Works than Barry would in three lifetimes.
Rest in Peace, Ron.
“who”
Be nice if it really was a game and it ended and we all went home to the reality of fiscal sanity and freedom from Big Government. Alas!
Trang: It sure woul. It would also be a nice day if it was not raining outside.
Hey I made the leader board! I just always said YES to the giveaway! Played it a second time and always said NO and ended up in a Zombie Depression. Hmmm, do you think the programmers ever read Hayek or Friedman? I think the answer on that is “NO”.
Wretchard, you find some of the coolest stuff! Man! I’m jealous!
We need a sustained, low-key pr campaign (televised fireside chats?) laying out the case for private sector solutions.
So that when the pendulum starts to swing back, we’ll have prepared the battlefield.
9 Staring in Disbelief:
I played it 3 times; the first time no on everything (Zombie Depression!) second time yes on everything (made leader board) third time did whatever the Greenspan recommendation was (made leader board again).
They certainly mocked Greenspan mercilessly with this, but (strangely) following his advice got the high score.
Hi Hawaii!