Professor Rotunda Published Op-Ed on Stimulus Plan
April 3, 2009
Professor Ronald Rotunda published an op-ed in Chicago Tribune, entitled “Was Madoff good for the economy?” In this piece, Professor Rotunda discusses the Obama Administration’s economic stimulus plan. Professor Rotunda argues, “Perhaps it made sense during the Depression for the government to spend money when the alternative was people hiding cash in their mattresses. But that is not what happens today. We either spend our money or we save it. If we spend it, it circulates in the economy and creates jobs. If we save it, it does not go down a black hole or into a mattress. We put it in the bank, which lends it to others. It circulates in the economy and creates jobs.” Read op-ed…