David Backus '75, Heinz Riehl Professor of International Economics and Finance at New York University's Stern School of Business, has been actively commenting on today's federal economic program. While at Hamilton, Backus majored in economics under the guidance of economics professor Derek Jones and sang with the choir. He is the son of John K. Backus '46 and cousin to Angela North Manson '82.
A piece written by David Backus titled "Stimulus Ambivalence" appeared in the Januray 10 Financial Times Economists Forum:
My daughter has a T-shirt that reads: "I'm confused. No wait, maybe I'm not." Obama's stimulus package has a similar effect on me: "It's a great idea. No wait, maybe it's not." Or maybe I'm just confused. Government spending could very well help get the economy going again. And its example might raise business and consumer confidence: in times of trouble, strong leadership can be a wonderful thing.
But there are also reasons to be sceptical. I can't help it, I'm an economist, we're trained to think this way. ...
This piece is part of the NYU Stern project, "Repairing the US Financial Architecture: An Independent View." To read the complete article by David Backus visit the Financial Times: Stimulus Ambivalence.
A piece written by David Backus titled "Stimulus Ambivalence" appeared in the Januray 10 Financial Times Economists Forum:
My daughter has a T-shirt that reads: "I'm confused. No wait, maybe I'm not." Obama's stimulus package has a similar effect on me: "It's a great idea. No wait, maybe it's not." Or maybe I'm just confused. Government spending could very well help get the economy going again. And its example might raise business and consumer confidence: in times of trouble, strong leadership can be a wonderful thing.
But there are also reasons to be sceptical. I can't help it, I'm an economist, we're trained to think this way. ...
This piece is part of the NYU Stern project, "Repairing the US Financial Architecture: An Independent View." To read the complete article by David Backus visit the Financial Times: Stimulus Ambivalence.
