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Source: FT.com

On The Case

Keynes revisited

Date of publication - 09 October 2001




This week, with little ceremony, President George W. Bush quietly brought to a close more than a decade of US economic policy orthodoxy. By signalling his support for lower taxes and higher public spending in the next year that could reach as high as $130bn (£88bn) - 1.3 per cent of gross domestic product - he threw the US administration's weight behind the proposition that a temporary deficiency in aggregate demand should be met by a shift in government finances from surplus to deficit. Full text of this article »




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