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Ignoring Today's Dangers

In: GLOBAL ECONOMIC TURMOIL AND THE PUBLIC GOOD

Author

Listed:
  • Steven Rosefielde
  • Daniel Quinn Mills

Abstract

Leaders and investors everywhere today are disregarding economic and political storm warning. They delude themselves into believing that pre-crisis stability, prosperity and robust growth of the early years of the new millennium will be easily restored in our time because anti-crisis safeguards installed after 2008 will prevent another damaging financial crisis. Policy-makers are trying to create good times for everyone relying primarily on monetary expansion, intensified government deficit spending, statutory wage increases and egalitarian transfers. There are debates, but disagreement is narrowly restricted to disputes over the right mix of steroids and entitlements. No serious consideration is being given by politicians and macroeconomic theorists to the long term causes of global economic growth retardation and the risks of perpetual fiscal and monetary stimulus…

Suggested Citation

  • Steven Rosefielde & Daniel Quinn Mills, 2015. "Ignoring Today's Dangers," World Scientific Book Chapters, in: GLOBAL ECONOMIC TURMOIL AND THE PUBLIC GOOD, chapter 2, pages 11-35, World Scientific Publishing Co. Pte. Ltd..
    • Handle: RePEc:wsi:wschap:9789814590518_0002
    as

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