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Mainstream media discussion of the macro economic picture goes something like this: “When there is a recession, the Fed should stimulate. We know from history the recovery comes about 12–18 months after stimulus. We stimulated, we printed a lot of money, we waited 18 months. So the economy ipso facto has recovered. Or it’s just about to recover, any time now.”
In my Mises Daily “A End to Austerity” I refer to a study that estimates that eliminating the job of one regulator causes a surprising large number of job to be created and a large increase in GDP. Here is a link to that study.
