Comments on: Managing Expectations Better http://willwilkinson.net/flybottle/2009/02/07/managing-expectations-better/ The Sweet Release of Reason Thu, 09 Feb 2012 18:11:50 +0000 hourly 1 By: Sachs on the Self-Defeating Stimulus http://willwilkinson.net/flybottle/2009/02/07/managing-expectations-better/#comment-20698 Sachs on the Self-Defeating Stimulus Mon, 23 Feb 2009 19:22:27 +0000 http://www.willwilkinson.net/flybottle/?p=2731#comment-20698 [...] By the way, here’s my earlier post on “Managing Expectations Better.” [...] [...] By the way, here’s my earlier post on “Managing Expectations Better.” [...]

]]> By: talboito http://willwilkinson.net/flybottle/2009/02/07/managing-expectations-better/#comment-20699 talboito Mon, 09 Feb 2009 11:48:24 +0000 http://www.willwilkinson.net/flybottle/?p=2731#comment-20699 I for one welcome our, only indirectly, murderous, auto-econorobotic overlords. I for one welcome our, only indirectly, murderous, auto-econorobotic overlords.

]]> By: talboito http://willwilkinson.net/flybottle/2009/02/07/managing-expectations-better/#comment-20697 talboito Mon, 09 Feb 2009 03:48:24 +0000 http://www.willwilkinson.net/flybottle/?p=2731#comment-20697 I for one welcome our, only indirectly, murderous, auto-econorobotic overlords. I for one welcome our, only indirectly, murderous, auto-econorobotic overlords.

]]> By: Glen Raphael http://willwilkinson.net/flybottle/2009/02/07/managing-expectations-better/#comment-20696 Glen Raphael Sun, 08 Feb 2009 11:20:36 +0000 http://www.willwilkinson.net/flybottle/?p=2731#comment-20696 I like the idea but have a different reservation: If you make it a standing policy to build the next batch of bridges on some list every time NBER declares a recession, you create a powerful interest group - the bridge builders - in favor of declared recessions. The more specific you get about what is likely to happen, the clearer it is who the specific beneficiaries would be and the easier it is for that group to organize to corrupt the political process in order to get more and longer recessions declared. I like the idea but have a different reservation: If you make it a standing policy to build the next batch of bridges on some list every time NBER declares a recession, you create a powerful interest group – the bridge builders – in favor of declared recessions. The more specific you get about what is likely to happen, the clearer it is who the specific beneficiaries would be and the easier it is for that group to organize to corrupt the political process in order to get more and longer recessions declared.

]]> By: Matt C http://willwilkinson.net/flybottle/2009/02/07/managing-expectations-better/#comment-20695 Matt C Sun, 08 Feb 2009 10:11:17 +0000 http://www.willwilkinson.net/flybottle/?p=2731#comment-20695 It would be better expectation management, but we open up a whole new set of policy questions as to what the auto-stimulus should be. What if our next recession is not financial in nature, but is a breakdown in healthcare economics? Would giving money to banks and re-paving highways help? It would be better expectation management, but we open up a whole new set of policy questions as to what the auto-stimulus should be. What if our next recession is not financial in nature, but is a breakdown in healthcare economics? Would giving money to banks and re-paving highways help?

]]> By: Michael Drake http://willwilkinson.net/flybottle/2009/02/07/managing-expectations-better/#comment-20694 Michael Drake Sun, 08 Feb 2009 01:41:43 +0000 http://www.willwilkinson.net/flybottle/?p=2731#comment-20694 "Wouldn’t this be better expectation management? "<br><br>Yes. “Wouldn’t this be better expectation management? “

Yes.

]]> By: Mike Farmer http://willwilkinson.net/flybottle/2009/02/07/managing-expectations-better/#comment-20693 Mike Farmer Sat, 07 Feb 2009 23:48:42 +0000 http://www.willwilkinson.net/flybottle/?p=2731#comment-20693 More than likely, a private insurance plan for down times would be more efficient for allowing people and businesses to plan for recessions. You pay into the plan expecting a periodic recession, a layoff, or a job transition, then you receive a temporary pay-out depending on the plan you purchase. Just like paying for insurance in case you become ill in the future. But this could happen only with a smaller, limited government and much lower taxes so that people could afford to pay for the policies. More than likely, a private insurance plan for down times would be more efficient for allowing people and businesses to plan for recessions. You pay into the plan expecting a periodic recession, a layoff, or a job transition, then you receive a temporary pay-out depending on the plan you purchase. Just like paying for insurance in case you become ill in the future. But this could happen only with a smaller, limited government and much lower taxes so that people could afford to pay for the policies.

]]> By: DannyK http://willwilkinson.net/flybottle/2009/02/07/managing-expectations-better/#comment-20692 DannyK Sat, 07 Feb 2009 20:53:11 +0000 http://www.willwilkinson.net/flybottle/?p=2731#comment-20692 Sounds like a good idea! <br>George W. refused to admit we were in recession for a year after it had started, so it would have been helpful to have some automatic countercyclical policies in place. Of course, the NBER always calls recessions retrospectively, so even this would be slower than ideal. Sounds like a good idea!
George W. refused to admit we were in recession for a year after it had started, so it would have been helpful to have some automatic countercyclical policies in place. Of course, the NBER always calls recessions retrospectively, so even this would be slower than ideal.

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