Is Stimulus Still Necessary?
Conservative-minded economists argue that economic stimulus produces only higher prices, because people spend more money on the same quantity of goods and services. But stimulus packages around the world arrested the slide into depression, and the time to start worrying about inflation is when the recovery is entrenched.
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LONDON – Have stimulus packages brought the world’s traumatized economies back to life? Or have they set the scene for inflation and big future debt burdens? The answer is that they may have done both. The key question now concerns the order in which these outcomes occur.