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Thursday, October 21, 2010

Today Keynes Is Ignored in Europe

Anti-Government Demonstration in London
(photo: Andrew Testa for NY Times)

John Maynard Keynes considered deficit spending to be crucial in times of recession. His view is ignored today by European governments (even in his native land, Britain). The solution found from London to Paris to Athens to Bucharest is totally the opposite of deficit spending: it is to cut spendings. And all over Europe the street is protesting against the measures taken by governments.

Read this article in NY Times...

Zoon Politikon)


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