Market and academic prognosticators now argue which way to best grow the U.S. and global economies—via austerity or government stimulus and tax cuts. The latter’s proponents recall the Reagan era. The former reference 5,000 years of history, according to David Graeber. Whether at 90% of GDP or more, excessive borrowing has often fueled inflation or stunted economic growth (with one major exception).
Food Scarcity May Leave World Hungry Despite Growth
Stephen Leeb, Contributor, Forbes
Thu, 04/25/2013 - 8:34am
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