Just like Keynesian economics, electroshock therapy was first introduced in the 1930s and then gained widespread use in the 1940s. Now President-elect Barack Obama “anxious to jolt the economy back to life” is considering a federal stimulus package that could reach a whopping $1 trillion. Now that is a shocking number. Problem is, there is just no academic or real world evidence to suggest such a massive ‘shock’ would be healthy for the U.S. economy. In the 1990s, Japan rapidly increased government spending in an effort to recover from its …
