The great debate in economics is whether heavily indebted governments in Europe and the US should keep spending to stimulate economic recovery or move quickly to balance the books.rnJohn Maynard Keynes, the Depression-era economist who once wrote for The Banker, but whose ideas fell out of favour during the 'markets era' of the past three decades, is very much back in vogue. His ideas and quotations are being used to support the case for continuing deficit spending, underwritten by the threat that failure to do so will presage a return to the economic hardships of the 1930s.
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