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Ken Rogoff, Professor of Economics, Harvard and Former Chief Economist, IMF

Alpha Exchange

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Shifts in Economic Philosophy: From Austerity to Increased Spending

This chapter explores the changing economic philosophies regarding government debt and austerity measures following the 2008 financial crisis and the Eurozone crisis. It examines the shift from austerity to an embrace of increased government spending, highlighting the influence of Modern Monetary Theory and the importance of understanding economic trade-offs during crises.

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