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An economy for everyone
The New Bazaar
Is There a Need to Stimulate More?
I was writing lots of columns at the time saying, this is just because demand isn't strong enough. The honesty, it was quite horrible and frustrating to watch policy makers continually underestimate how bad the growth actually was. If you have high pressure demand in the economy, even to the point of some inflation, businesses and workers think that that pressure will remain n then they will make choices based on that. That includes things like signals of what the tax system will look like. For example, will there be a high price on carbon in the future, so that companies know now whether it's worth investing in a battery factory or a solar panel factory.
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