Russia’s Economic Policy in 2010: Quest for Innovations
The austerity vs stimulus discussion among economists and politicians is gaining momentum. Not surprisingly, both parties are actively appealing to the memory of John Maynard Keynes who, indeed, put forth the idea of economic stimulus but never recommended that it be used on a scale as massive as that in the 1970s, when Richard Nixon declared himself a ‘Keynesian’ and pursued state intervention policies under the guise of Keynesianism.
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