Looking back, this is worth a read. It’s one of my most popular blogs. IMF are still pushing infrastructure investment
Originally posted on Dr Alf's Blog:
Krugman focuses on the long-term unemployed that are are a direct casualty of misguided and erroneous policies of austerity. It’s time to focus on getting people back to work and addressing the cancer of youth unemployment, the lost generation.
Policy-makers need to be bold and embrace tested Keynesian medicines for recession. Central banks have done magical stuff, now it is the turn of fiscal policy. Huge reflation is required.
Because of the austerians, there will be a huge skills shortage. It is time to bring back all people on the bench…
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