Beware governments' post-doping malaise

Across the English speaking world, growth has failed to recover to pre-GFC levels. In these circumstances, a fetish for reducing government deficits risks triggering a modern version of the Roosevelt Recession.

Recent economic data from both the UK and US should have taken the wind out of the sails of those in the Anglosphere who – despite clearly contradictory evidence from mainland Europe – continue to argue that fiscal tightening is needed for economic growth is to recover.

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