How did we get here? The economic crisis explained

How did we get here? The economic crisis explained
Document type
Guidance
Author(s)
Meadway, James
Publisher
New Economics Foundation
Date of publication
2 February 2012
Series
Reboot for a new economy
Subject(s)
Trends: economic, social and technology trends affecting business
Collection
Business and management
Material type
Reports

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This is a short guide to how the global financial crisis broke, and some ideas on how to get out of it. Politicians call for austerity and little else. But spending cuts are economically illiterate. They wreck weak economies by locking them into a cycle explained by John Maynard Keynes over 80 years ago. Breaking this vicious circle is the first step towards recovery. But we can’t return to the old world of chronic dependence on carbon and debt. 

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