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Crass Keynesianism

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This article originally appeared at cobdencentre.org. Via Thrifty families accused of prolonging the recession – Times Online, yet more crass Keynesianism: Anxious families are repaying debts instead of spending in the shops, amid concern over the uncertain economic outlook. The share of income saved in banks and building societies has risen to its highest level in more than a decade, heightening fears that faltering consumer demand could prolong the recession. But see also Correction, Mr. Bernanke: It is real savings […]

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