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Austerity Is Not a Solution

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  • Robert Pollin

Abstract

Ever 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.

Suggested Citation

  • Robert Pollin, 2010. "Austerity Is Not a Solution," Challenge, Taylor & Francis Journals, vol. 53(6), pages 6-36.
  • Handle: RePEc:mes:challe:v:53:y:2010:i:6:p:6-36
    DOI: 10.2753/0577-5132530601
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    File URL: http://hdl.handle.net/10.2753/0577-5132530601
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    References listed on IDEAS

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    1. Arjun Jayadev & Mike Konczal, 2010. "When Is Austerity Right?: In Boom, Not Bust," Challenge, Taylor & Francis Journals, vol. 53(6), pages 37-53.
    2. Olivier Blanchard & Roberto Perotti, 2002. "An Empirical Characterization of the Dynamic Effects of Changes in Government Spending and Taxes on Output," The Quarterly Journal of Economics, Oxford University Press, vol. 117(4), pages 1329-1368.
    3. Barro Robert J, 2009. "Demand Side Voodoo Economics," The Economists' Voice, De Gruyter, vol. 6(2), pages 1-4, February.
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    Cited by:

    1. 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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