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Monday, 6 July 2020

Future Spending, or Keynesianism for Slow Learners

I am struck that many Conservative MPs now seem to accept the basic Keynesian logic that running a deficit now in order to restart activity is worth it even though it leads to a bigger national debt that because of low interest rates it costs relatively little to service it.

This sounds awfully like the words I quoted from Ed Balls In August 2010.  It is also a tacit admission that the entire austerity policy pursued by Tory politicians over the many years since 2010 was just wrong.

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