giovedì, agosto 06, 2009

Sicuri che i baltici si sbaglino, rigettando Keynes?

Come a notare Martin Hutchinson, le politiche non-keynesiane di Chamberlain furono un successo maggiore del dirigismo rooseveltiano, almeno secondo i parametri dei "keynesiani " moderni à la Ktugman
The Baltic states’ response to recession resembles Chamberlain’s policy in the Great Depression. He rejected Keynes’ advice and cut public spending sharply in 1931-2, including a 10% reduction in public sector pay, arguing that public sector job security was worth more in recession. This freed resources for the private sector, lowered interest rates without inflation and brought rapid recovery. The UK highest five-year growth rate ever was in 1932-37.
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