"Increased government spending can provide a temporary stimulus to demand and output but in the longer run higher levels of government spending crowd out private investment or require higher taxes that weaken growth by reducing incentives to save, invest, innovate, and work."

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Thematic Reflection

This quotation examines the core nature of Politics as articulated by Martin Feldstein. Within historical and literary traditions, reflections on Politics provide actionable mental models, challenging individuals to evaluate personal ethics, self-discipline, and daily actions.

About Martin Feldstein

Martin Stuart Feldstein was an American economist. He was the George F. Baker Professor of Economics at Harvard University and the president emeritus of the National Bureau of Economic Research. He served as president and chief executive officer of the bureau from 1978 to 2008. From 1982 to 1984, Feldstein served as chairman of the Council of Economic Advisers and as chief economic advisor to President Ronald Reagan. Feldstein was also a member of the Washington-based financial advisory body the Group of Thirty from 2003.

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