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Austerity is Chipmunk Thinking
Season 1
Episode 7
Published 9 years, 9 months ago
Description
In this podcast Phil Dobbie talks with Steve Keen about the rationale behind government austerity measures, the thinking being that government debt is holding back the prospects for economic growth. Steve argues that this assumes the economy behaves like chipmunks, hording nuts for the winter. In effect, the approach takes money out of the economy, doing the opposite of helping the economy grow.
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