Stimulus Package Is an Income Redistribution Scheme, Not an Income Expansion Scheme

Corporate Welfare |
By Joseph Haslag | Read Time 1 minute

Joseph Haslag, economics professor at the University of Missouri–Columbia and executive vice president of the Show-Me Institute, explains in for KBIA 91.3 FM in Columbia that real economic stimulus comes from thousands of little things, a wide array of market actions and decisions that can’t be anticipated or controlled by a centralized plan. “It will take some time for balance sheets to heal,” Haslag concludes, “but it will happen. Citizens should refrain from idly waiting for the illusory salvation of the stimulus package.”

About the Author

Joseph Haslag is a professor and the Kenneth Lay Chair in economics at the University of Missouri Columbia. Until the end of 2018, Professor Haslag was the Institute's chief economist. An expert in monetary policy, Haslag has done research at the Federal Reserve Banks of Saint Louis, Dallas, and Atlanta. He serves on the Federal Reserve Bank of Kansas Citys Economic Roundtable and the Federal Reserve Bank of Saint Louis Business Economic Regional Group. He has taught at Southern Methodist University, Erasmus University in Rotterdam, and Michigan State University. Haslag has published his research in the Journal of Monetary Economics, the Journal of Money, Credit and Banking, and the International Economic Review. His research has been cited in more than 100 academic papers. In his role as director of EPARC, Haslag is a standing member of the Consensus Revenue Forecasting Group that forecasts state revenues for state legislators and the governor.

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