It’s fascinating that in the mainstream media, at least here in the U.K., the Keynesians seem to have won the day. Whenever members of the government are questioned about the nation’s current austerity program on the radio or on television, they’re asked: “Where will the economic growth come from?”
It’s become an assumption among interviewers that consumer spending and government expenditure have to be boosted, even though it was arguably borrowing to overspend by consumers and governments that got us into this mess in the first place.
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