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Richard Stallman's Political Notes

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Deficit spending

mercredi 22 août 2018 à 02:00

The ten years since the fiscal crisis demonstrate that Keynes is still right: deficit spending leads a country out of a crisis, while government budget cuts make it worse.

Why do today's economists so often refuse to recognize this? I think they are pandering to rich people that will profit from shock capitalism.

The full potential of budget-cutting disaster was visited on Greece, and Greeks will continue to be effectively serfs of the euro-banksters for decades more.