Austerity Is Not a Solution
AbstractEver since John Maynard Keynes, deficit spending has been a practical way to minimize the pain of recession and launch a recovery. But with deficits running high, those who believe deficits should be reduced right now are gaining in influence. Does austerity at this point make any sense? This may well be the issue of the moment, and this writer provides one of the most comprehensive analyses of the issues around. His conclusion: Austerity right now would be a great mistake.
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Bibliographic InfoArticle provided by M.E. Sharpe, Inc. in its journal Challenge.
Volume (Year): 53 (2010)
Issue (Month): 6 (November)
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Web page: http://mesharpe.metapress.com/link.asp?target=journal&id=106043
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- Robert Pollin, 2012. "The Great U.S. Liquidity Trap of 2009-11: Are We Stuck Pushing on Strings?," Working Papers wp284, Political Economy Research Institute, University of Massachusetts at Amherst.
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