JP Hochbaum
DP Veteran
- Joined
- Feb 7, 2012
- Messages
- 4,456
- Reaction score
- 2,549
- Gender
- Male
- Political Leaning
- Independent
And austerity Bad.
"There is a lesson here for eurozone governments: use expansionary fiscal policies to promote well-designed reform rather than austerity to try to force change. For all the blood spilled in terms of unemployment and benefit cuts in Europe since the financial crisis began, the yield in terms of labour market reform has been meagre, and in product market liberalisation even worse. Given the damage to growth, adverse demographics and the need for structural reform, the prospects for public debt are only getting worse."
Shinzo Abe’s stimulus is a lesson for the world - FT.com
"There is a lesson here for eurozone governments: use expansionary fiscal policies to promote well-designed reform rather than austerity to try to force change. For all the blood spilled in terms of unemployment and benefit cuts in Europe since the financial crisis began, the yield in terms of labour market reform has been meagre, and in product market liberalisation even worse. Given the damage to growth, adverse demographics and the need for structural reform, the prospects for public debt are only getting worse."
Shinzo Abe’s stimulus is a lesson for the world - FT.com