Pubilc borrowing
Keynesian theory and public borrowing
Keynesian theory says that over hasty deficit reduction can be counterproductive. This is because cuts and tax rises depress overall economic activity and thus tax receipts. Depressed activity also pushes up unemployment and results in a bigger benefits bill.
By Ben Chu | Eagle Eye, Econoblog | Tuesday, 26 June 2012 at 12:37 pm
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