Ever since John Maynard Keynes, deficit spending has been a practical way to minimize the pain of recession and launch a recovery. But with deficits running high, those who believe deficits should be reduced right now are gaining in influence. Does austerity at this point make any sense? This may well be the issue of the moment, and this writer provides one of the most comprehensive analyses of the issues around. His conclusion: Austerity right now would be a great mistake.
No takes yet. Share an insight, caveat, or question.
Robert Pollin (2010) studied this question.
Synapse has enriched 5 closely related papers on similar clinical questions. Consider them for comparative context: