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Joseph E. Stiglitz argues that the current wave of fiscal austerity in Europe and America poses significant risks, especially given the anemic economic growth and high unemployment rates. He emphasizes that government spending, particularly on investments in education and infrastructure, can lead to lower long-term deficits and should not be prematurely cut back. Stiglitz warns against deficit fetishism and advocates for a balanced approach that prioritizes productive investments over unproductive spending.
- Author
- himara.n
- Language
- EN