Nobel Prize-winning American economist battles British deficit hawks. Read more.
Fact: austerity measures have failed everywhere, in Europe and in the United States. A global depression looms, an economic catastrophe that could kill democracy, and deficits have very little to do with the problem. The solution--massive government stimulus--is well known and available yet rejected out of hand by the powers that be. Why? The answer must be that massive unemployment is a strategy adopted by forces that aim to permanently pauperize the middle classes under cover of "reform" and "competitiveness."
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