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The Folly of Scrapping Stimulus

The Folly of Scrapping Stimulus

David Olive

World leaders are now learning the folly of hastily declaring victory over the worst effects of the Great Recession. Turns out we’re not even remotely out of the woods after the worst economic collapse since the Depression of the 1930s.

With the Great Recession consigned to the history books, austerity became the mantra among the advanced economies that had suffered most from the epic downturn.