Prof Joseph Stiglitz (as do Bernake, Obama and Geithner probably believe) austerity is not the solution to the US or Euro crisis. The Columbia University professor thinks that stimulus is the answer. Of course, there are two differing and opposing point of views
It is battle between stimulus and frugality. Some Obama staff defended that the high level of welfare assistance to the unemployed (now at 46 million) stimulates spending and thus props up the economy.
What to you think?
Is more govt spending the answer to economic slowdown (Keynesian, Neo Keynesia) the key to economic growth and recovery? How about welfare?
Why am I mentioning a lot of US news for Phil entrepreneurs? Are they relevant?
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