2 resultados para Fiscal discipline

em Bucknell University Digital Commons - Pensilvania - USA


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Civic Discipline argues that the story of the origins of American geography is a distinctly "New York story." Wealthy businessmen began America's first geographical society - the American Geographical Society - in 1851, inspired by what geographical knowledge of the globe could offer an expanding American commercial Empire at home and abroad. AGS meetings were spectacularly popular among the public and press. At them, geography was cast as a science in the service of the public and civic good. Meanwhile though, AGS men's spatial and financial "missions" became closely linked. They helped improve derelict spaces in New York City and weighed in on controversial scientific questions of the day in the Arctic, yet the geographical knowledge they advanced - such as in the American West and in Central Africa - also created enormous personal wealth. Civic Discipline shows that it was not just that historical events shaped geography, but rather, that geography shaped historical events.

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Conventional wisdom contends that fiscal policy was of secondary importance for the economic recovery in the 1930s. The recovery is then connected to monetary policy that allowed non-sterilised gold inflows to increase the money supply. Often this is shown by measuring the fiscal multipliers and demonstrating that they were relatively small. This paper shows that problems with the conventional measures of fiscal multipliers in the 1930s may have created an incorrect consensus on the irrelevance of fiscal policy. The rehabilitation of fiscal policy is seen as a necessary step in the reinterpretation of the positive role of New Deal policies for the recovery.