i-Side Economics

Ike Brannon pointed me to a great op-ed piece by Andy Kessler in the Wall Street Journal last Tuesday describing comparing the New Keynesian spending policies of the Obama administration over the last three years to what he calls "i-side economics" ("i stands for "investment"), which is just a clever rebranding of the supply-side economics. The idea is that taking government funds (that have to come from somewhere) and giving them to someone does not create anything. It is investment that creates value and permanent new jobs. Very nice piece.