April 25, 2015

Sense about the deficit by Simon Wren–Lewis

In his latest blog, Mediamacro myth 4: The immediate necessity of belt tightening ,Simon Wren-Lewis demonstrates the folly of governments trying to cut the deficit in a recession when interest rates are as low as they currently are.

We must always remember that a country is an economy not a company or a single household. Attempting to cut the government deficit in a recession only succeeds in making things worse.

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