For several years, the European Commission has encouraged debt-ridden members of the European Union to embrace environmental taxes, saying that its economists have concluded they have "a less detrimental macroeconomic impact" than new income taxes or corporate taxes.
Cheap borrowing costs encouraged Americans to load up on debt to buy homes, even when they had no savings, no income and no job prospects.
It takes them a few years to drain these pools and get into trouble.By pushing down spreads, investors reduced the cost of capital and encouraged companies to take on more debt.
But it did some useful work on debt reduction in the developing world, and encouraged economic development in Africa.
This encouraged non-rich households to take on ever more debt, the better to generate higher levels of investment, mostly in the form of single-family homes.
This encouraged households to join the borrowing bonanza, expanding housing and credit card debt at a dizzying pace.
Additionally, we find that deposit insurance schemes enhance moral hazard, as this encouraged banks to take on more risk and perform poorly during the sovereign debt crisis.
("Retro attire is encouraged").
"I was very encouraged," he said.
Basketball is another encouraged pastime.
