search query: @author Pressman, S. / total: 9
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| Author: | Pressman, S. |
| Title: | Deficits, full employment and the use of fiscal policy |
| Journal: | Review of Political Economy
1995 : APR, VOL. 7:2, p. 212-226 |
| Index terms: | EMPLOYMENT FISCAL POLICY PUBLIC EXPENDITURE |
| Language: | eng |
| Abstract: | According to orthodox economic wisdom, fiscal policy is incapable of solving the unemployment problem because government deficits crowd out consumer spending, business investment and net exports. This paper argues that neither theoretical nor empirical support exists for such claims. In addition misplaced and mistaken fears about government deficits have kept national governments from employing fiscal policy when necessary. By abandoning fiscal policy, national governments have contributed to rising unemployment in the developed world. |
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