|Author (Person)||Stephens, Philip|
|Series Title||Financial Times|
Commentary feature. Austerity policies designed to sustain credibility have begun to have the opposite effect.
The central point – blindingly obvious but lost to the cacophony – is that what matters is the mix and sequencing of policy choices. Deficit-reduction depends on growth, but growth is sustainable only in the context of preprogrammed fiscal discipline. Thinking in terms of binary choices is self-defeating: when the discussion turns to Keynes versus Hayek, the game is lost.
|Subject Categories||Economic and Financial Affairs|
|Countries / Regions||Europe|