Another reason to like Austan Goolsbee: he responds to the blogosphere. I linked to JW Mason’s argument here and it bounced around the internet until Goolsbee responds to Atrios bringing it up:
I saw you link to an argument that my dissertation fifteen years ago on investment subsidies implied that the administration’s recently-announced policy calling for temporary expensing of capital investment and making the R&D tax credit permanent would not work. While I admit to a small amount of joy that someone actually looked at my old research, I think the details in that work say differently. I started from the obvious point that subsidizing the demand for something when there are capacity constraints or a steeply rising supply curve, should tend to drive up prices in the short run rather than purely inducing more purchases. This was often true of capital goods like machinery in the data period I…
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Utopia, you are standing in it! 
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