Ultimi link in questa sezione

05/10/2015
Why we must end upward pre-distribution to the rich
17/07/2015
How Goldman Sachs Profited From the Greek Debt Crisis
14/07/2015
Solo lo spirito del Dopoguerra potrà salvarci dalla crisi eterna
12/03/2015
The Conundrum of Corporation and Nation
22/02/2015
La Grecia, le riforme e il giallo della tabella
10/02/2015
Basic Income Pilots: A Better Option Than QE
05/02/2015
Le coup de force inadmissible et irresponsable de la BCE contre la Grèce

Fiscal austerity and the euro crisis: where will demand come from?

25/11/2013

Fiscal austerity has emerged from the debate on the euro crisis as the main strategy to restore growth and employment. Governments (and voters) considering further cuts to fiscal deficits should ask themselves an important question: where will demand come from?

Fiscal austerity promised to bring growth back to Europe by taking governments "out of the way." Unsurprisingly, it hasn't worked. Prescriptions of austerity typically fail to recognize the economy's resource constraint: demand only comes from households, businesses, government and the external sector. With households and businesses struggling with the recession, and trade expansion impossible for all countries at once, it is not clear what the expectation of growth is based on.

Read more

Tratto da www.ase.tufts.edu
eZ Publish™ copyright © 1999-2015 eZ Systems AS