by Pater Tenebrarum, Acting-Man.com:
Government Spending and Growth
French president Francois Hollande seems to have realized that something needs to change in France, as the economy continues to remind one of an overcooked vegetable – limp, soggy and all around unappealing.
As a reminder, when Hollande ran for the presidency, he was trying to pass himself off as the coming ‘growth president’. The growth miracle was going to be achieved by adopting an ‘anti austerity’ stance, so in essence, Hollande propagated the theory that deficit spending by government creates economic growth. This economically illiterate position is also held by many prominent economists, so one can probably not blame a professional bureaucrat-politician for believing it. The vagaries of the market are unknown to him – he has been a government apparatchik throughout his career.
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