Standard Keynesian economics
says more fiscal stimulus is needed to restore growth because the 2008 recession was so big, and long, and deep.
Zero number of people running for office in 2010, 2012, and 2014 campaigned on raising the national debt to
supply more fiscal stimulus.
«My judgment is that it seems to be that what people are factoring in is [the] likelihood
of more fiscal stimulus and reduced downside risk to the economy.»
Those who spent the last year telling us to follow the American example with yet
more fiscal stimulus need to answer this simple question: why has the US economy grown more slowly than the UK's so far this year?
We should develop a new development philosophy and rise above the debate about whether there should be
more fiscal stimulus or more monetary easing.