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Jean-Claude Trichet, president of the European Central Bank, argues that fiscal thrift will increase private spending by reducing uncertainty about government tax policy and debt.Both sides of this debate oversimplify their cases.
What some do recall is that the football team was shut down for budget reasons in 1950, a decision still echoing in the program's current course of fiscal thrift.
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Any mention of thrift, fiscal responsibility or long marriages — Mr. Nicklaus has been married for 52 years, Mr. Romney for 43 — went over particularly well.
DESPITE its deserved reputation as a nation of thrift and fiscal discipline, Germany has a habit of making bond markets nervous.
In these dire circumstances, it is easy to see why Miliband and Balls, rather than trying to educate the public about fiscal multipliers, the paradox of thrift, and other staples of Keynesian economics, chose to adopt the political strategy of "if you can beat them, join them".
But the region's libertarian thrift is harnessed to a remarkable fiscal recklessness.
Rather than accepting that bigger fiscal deficits would be the natural counterweight to private thrift, politicians pushed for austerity.
In theory, by running fiscal surpluses the federal government would raise national saving (unless individuals made up for government thrift with greater profligacy of their own).
If they raise short-term rates too far, too fast, debt-laden consumers will buckle.Moreover, the abundance of foreign thrift makes it unnecessary for American politicians to tackle their country's own fiscal challenges.
Jiejian (thrift).
New Thrift.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com