Professor Robert Skidelsky, in his article published on New Europe’s website, has articulated a strong argument against the current economic wisdom, which is favouring policy measures that depress aggregate demand.
He rightly argues that, in this way, the certain outcome will be less growth or even a recession, without any benefit for public finance, since lower GNP will lead to even less tax incomes for state budgets and ever increasing public deficits.
Instead, Skidelsky prop...
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