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Preventing Another Crisis: The Need for More Profound Reforms

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  • Dimitri B. Papadimitriou
  • Greg Hannsgen

Abstract

There is no justification for the belief that cutting spending or raising taxes by any amount will reduce the federal deficit, let alone permit solid growth. The worst fears about recent stimulative policies and rapid money-supply growth are proving to be incorrect once again. We must find the will to reinvigorate government and to maintain Keynesian macro stimulus in the face of ideological opposition and widespread mistrust of government.

Suggested Citation

  • Dimitri B. Papadimitriou & Greg Hannsgen, 2010. "Preventing Another Crisis: The Need for More Profound Reforms," Economics One-Pager Archive op_5, Levy Economics Institute.
  • Handle: RePEc:lev:levyop:op_5
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