But if the alternative is a trillion dollar output gap and 6m unnecessarily unemployed workers, that's probably a pretty good trade-off to make.We learned a hugely important lesson from the Depression that central banks could influence the economy and prevent demand-side macroeconomic disasters.
And that is a relatively easy industrial product to measure constant-dollar output.
In 1800, silver deposits once again began to decline, and the total silver dollar output for that year was 220,920.
Yet it still accounts for more than two trillion dollars in output, and American factories are still among the most productive in the world.
Each Chicago worker was associated with 4728 dollars of output (about 100,000 dollars today) or 1856 dollars of value added (about 38,000 dollars today).
Nigeria has dual distinctions as Africa's most populous country (183 million) and largest economy with half a trillion dollars in output).
North Korea leaves research for research's sake to the decadent West, and regards dollars, industrial output, or better weapons as the most important outcome of any scientific program.
North Korea leaves blue-sky thinking to the decadent West, and regards dollars, industrial output or better weapons as the most important outcome of any research programme.
So even if every dollar of spending restored a dollar of output, President Obama would be nearing the end of his first term before output approached the level achieved just before the start of the recession in December 2007.
For every extra dollar of output, the world cranks out more than a dollar of debt.
But funding agencies are starting to wise up to the loose connections that often exist between inputs and outputs in conservation projects, where inputs are donated dollars, and outputs are species and habitats actually conserved.
