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Let’s Get Fiscal

It may be true that there is no gain without pain, but there can be pain without gain – a lesson that Western populations have been learning the hard way since at least 2012. Years of fiscal austerity in the US, Europe, and Japan have achieved nothing, and it is time for governments to start spending again.

LONDON – Everyone knows there is no gain without pain. But there can be pain without gain – a lesson that Western populations have been learning the hard way since at least 2012. With years of fiscal austerity in the United States, Europe, and Japan having achieved nothing, it is time for governments to start spending again.

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