Sunday, February 3, 2013

Steve Keen — 1937 Redux?

Of course I know that my argument, if it is heard by politicians at all, will fall on deaf ears – and that’s despite the fact that, for once, virtually all economists agree that government surpluses now would be a bad idea (though using very different arguments to mine).
It’s far easier for politicians to treat a nation’s accounts as no different than a household’s – and campaign about reducing government waste – than it is to comprehend the feedbacks that may cause fiscal consolidation to reduce aggregate demand by far more than it reduces the government deficit.
Steve Keen's Debtwatch
Will politicians cause a Roosevelt Recession in 2013?
Steve Keen

No comments: