Larry Summers on Britains economics lesson for the - TopicsExpress

Larry Summers on Britains economics lesson for the world: Interpreting the British experience correctly is important because of the political stakes in Britain, the impact on future British policy and, most important, the effect on economic policy debates around the world. Unfortunately, properly interpreted, the British experience refutes austerity advocates and confirms Keyness warning about the dangers of indiscriminate budget-cutting in the midst of a downturn. -Erika

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