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In Greece, Italy and, to a lesser extent, France, unsustainable tax cuts and spending sprees added
In Greece, Italy and, to a lesser extent, France, unsustainable tax cuts and spending sprees added
In Greece, Italy and, to a lesser extent, France, unsustainable tax cuts and spending sprees added
In Greece, Italy and, to a lesser extent, France, unsustainable tax cuts and spending sprees added
In Greece, Italy and, to a lesser extent, France, unsustainable tax cuts and spending sprees added
In Greece, Italy and, to a lesser extent, France, unsustainable tax cuts and spending sprees added
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Edmund Phelps:
The main cause of Europe's deep fall - the losses of inclusion, job satisfaction and wage growth -Edmund Phelps:
Disciples of Keynes, who focus on aggregate demand, view any increase in household wealth as raisinEdmund Phelps:
Economists of a classical bent lay a large part of the decline of employment, and thus lagging outpEdmund Phelps:
After a major loss of dynamism in the 1960s, productivity growth rates began dropping in most countEdmund Phelps:
'Egalitarians' who complain about inequality view the wealth of the wealthiest as bad in itself: itEdmund Phelps:
Developing new products is labour- intensive. So is producing the capital goods needed to make themEdmund Phelps:
With less competition to fear, companies are emboldened to raise their mark-ups and profits. That lEdmund Phelps:
Some economists believe that the Greeks' work ethic and thrift can pull them through. But the classEdmund Phelps:
The Keynesian belief that 'demand' is always at the root of underemployment and slow growth is a faEdmund Phelps:
No amount of debt restructuring, even debt forgiveness, will help the Greeks achieve real prosperit