Published by:
Harvard Business Publishing
Length: 7 pages
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Abstract
Most people strongly oppose deficits, but that''s because most people don''t understand them, writes Robert Eisner in "Sense and Nonsense About Budget Deficits" (HBR, May-June 1993, Reprint #93303). Deficits can be good as well as bad, he argues, too small as well as too large. The right kind of deficit can generate purchasing power for U.S. products and also enhance total productivity. Historically, in fact, deficits have been associated with greater national saving. In this follow up, eight experts consider Eisner''s views and debate the merits of his argument.
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Abstract
Most people strongly oppose deficits, but that''s because most people don''t understand them, writes Robert Eisner in "Sense and Nonsense About Budget Deficits" (HBR, May-June 1993, Reprint #93303). Deficits can be good as well as bad, he argues, too small as well as too large. The right kind of deficit can generate purchasing power for U.S. products and also enhance total productivity. Historically, in fact, deficits have been associated with greater national saving. In this follow up, eight experts consider Eisner''s views and debate the merits of his argument.