The Crowding out Debate and the Economic Experience of the 1990s in the US

By Michael Meeropol and Carlos F. Liard-Muriente.

Published by The Social Sciences Collection

Format Price
Article: Print $US10.00
Article: Electronic $US5.00

The “crowding-out” debate or the argument that "fiscal discipline" will bring private investment to a growth path as a result of a decrease in real interest rates is appealing and an important discussion within Economics. More recently, the crowding-out debate was put in the forefront as an aftermath of the Clinton Administration economic boom legacy. However, we conclude based on data from the experience of the US economy during this period of extraordinary “fiscal discipline” that the evidence does not validate the typical Crowding-out arguments.

Keywords: Macroeconomics, Crowding-out, Budget Deficits, Interest Rates, Investment, Government Borrowing/Expenditures, US Economy

The International Journal of Interdisciplinary Social Sciences, Volume 2, Issue 2, pp.81-92. Article: Print (Spiral Bound). Article: Electronic (PDF File; 766.990KB).

Michael Meeropol

Professor, Department of Economics, Western New England College, Springfield, MA, USA

Michael Meeropol is the older son of Ethel and Julius Rosenberg. Born in New York City, as Michael Rosenberg, Meeropol spent his early childhood living in New York and attending local school there. His father Julius, an electrical engineer, was a member of the Communist Party. His mother Ethel, a union organizer, was also active in the Communist Party. When Michael was 7 years old, his parents were arrested and executed for conspiracy to commit espionage. He attended Swarthmore College, and did graduate work at King's College, Cambridge University and the University of Wisconsin at Madison where he received his Ph D in Economics. In 1998 he authored SURRENDER, How the Clinton Administration Completed the Reagan Revolution. (University of Michigan Press, paperback edition, 2000) At present, Michael Meeropol is an economics professor and Chair of the department at Western New England College in Springfield, Massachusetts.

Carlos F. Liard-Muriente

Assistant Professor, Department of Economics, Central Connecticut State University, New Britain, CT, USA

Carlos F. Liard-Muriente was born in San Juan, Puerto Rico. After completing undergraduate studies in Economics and International Finance at the University of Puerto Rico, he attended the American Economic Association Summer School at the University of Texas-Austin, and later completed his Ph.D. in Economics at the University of Massachusetts-Amherst. After finishing his Ph.D., he taught undergraduate and graduate Economic courses at Western New England College. He now teaches economics at Central Connecticut State University in New Britain. His teaching and research interests include Development Economics, Globalization, International Economics, Latin American and Caribbean Economics, Latinos/as in the US, and Macroeconomics.


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