Although the ruling did not require the EPA to regulate emissions, and was specifically limited to addressing vehicles, it did pave the way for expansionary developments that followed.
The French call the period from 1945-1975 "le trente glorieuses" ("the glorious thirty threeree decades of almost full employment in Europe and the US, expansionary policies, rising wages and the development of a welfare state that transferred daily concerns about things such as housing, health and education to the state.
It is possible, he says, for such plans to boost growth via an "expansionary fiscal contraction".
The World Bank and the I.M.F. had been founded at the end of the Second World War to promote expansionary Keynesian policies around the globe, with the bank focussing on long-term development and the fund on short-term crisis management, but they long ago converted to the tenets of what Stiglitz calls free-market fundamentalism.
The key question is whether returnees were critical for the initial development period, or whether they played an important role only in the later, expansionary phase of the industry.
Thailand recovered from the Asian financial crisis after Thaksin kicked out the International Monetary Fund (IMF), and the Thai leader promoted expansionary policies with a redistributive dimension, such as cheap universal health care, a one-million-baht development fund for each town, and a moratorium on farmers' servicing of their debt.
On a day of dramatic market moves: Sweden's central bank pushed its interest rate further into negative territory, taking it to minus 0.50% from minus 0.35% "Uncertainty regarding global developments is still high, with low inflation and several central banks pursuing more expansionary monetary policy," the Riksbank said.
Expansionary fiscal contraction Mr Osborne.
Is the operative word "expansionary"?
Only deficit spending is expansionary.
2. Deficit spending is always expansionary.
