Preventing Another Crisis: The Need for More Profound Reforms

Dimitri Papadimitriou and Greg Hannsgen

Economics One-Pager Archive from Levy Economics Institute

Abstract: There is no justification for the belief that cutting spending or raising taxes by any amount will reduce the federal deficit, let alone permit solid growth. The worst fears about recent stimulative policies and rapid money-supply growth are proving to be incorrect once again. We must find the will to reinvigorate government and to maintain Keynesian macro stimulus in the face of ideological opposition and widespread mistrust of government.

Date: 2010-11
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