The Economist advocating stimulus over austerity

by personperson

‘Public investment is not a panacea: Japan’s government paved over half the country in failed bids to thwart stagnation with stimulus. But what better time to invest in urgently needed infrastructure than when the cost of borrowing is at record lows? Greater public investment will boost economic potential in the long term and bolster spending in the short term. It should be at the top of today’s bubble-prevention arsenal.’