As Stiglitz says ....

"Mr Stiglitz said historical evidence showed that increased state spending helped economies emerge from recession. He added that the example of Ireland showed that austerity leads to declining output, rising unemployment and high bond spreads, instead of renewed investment". You can read the full report of Stiglitz's remarks in today's Daily Telegraph here.

Posted in: Inequality • Economics • Fiscal policy

Tagged with: stimulus • austerity • Stiglitz