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Economic Journal Macroeconomics (MANG0079) Bruce Rayton 13/3/02 "Bush advisor turns optimistic on US economy" Larry Lindsay, who is president Bush's economic advisor has stated that he is currently optimistic regarding the situation of the American economy. He believes that the possibility of the economy facing a "double-dip" recession, whereby the economy appears to be recovering after a period of recession yet growth falls again, is unlikely. The economic stimulus has been generated from a recent tax cut which in turn has triggered investment. This fiscal policy seeks to influence the level of economic activity in the economy through the control of taxation and government expenditure. Lindsay believes that there is incentive for new investment due to the effects of the tax cut feeding through into the economy having a positive effect on consumption within the economy. This concept relates to the Keynes theory which rejects the assumption that all markets would clear. A fall in aggregate...

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