Andrea Terzi — Fiscal responsibility means quality spending and a large enough deficit

Austerity is a respectable policy approach when it is concerned with the quality of public spending. Austerity is harmful and unscrupulous when it is concerned with making all levels of government balance their books.

Using the wrong tool for the job botches the job.

Money and the Real Economy
Fiscal responsibility means quality spending and a large enough deficit —A response to Steve Hanke’s defense of austerity
Andrea Terzi | Professor of Economics at Franklin University Switzerland, and a Research Associate at the Levy Economics Institute of Bard College, NY